Genuine Learning Blog: FASB ITC – 2025 Agenda Consultation
GFOA explores rethinking financial reporting to enhance usability and efficiency, addressing limited audience engagement with annual government financial reports.
View from the Dome February 28, 2025
Major legislation passed the Senate this week on government restructuring, while the House passed school choice. Tort reform, another major issue, cleared its first major hurdle, passing out of committee in the Senate. Week seven of the 18-week legislative session is now complete. This week, the Senate adopted S. 264 (Senators Peeler, Climer, Ott, Johnson and Kimbrell), …
View from the Dome February 21, 2025
The House Ways and Means Committee adopted its version of the state budget. School choice, energy generation, government restructuring and tort reform were also debated this week in committee. As this was the sixth week of the session, we have now completed one-third of the 18-week legislative session. This week, the House adopted H. 3814 (Rep. Hixon), …
Genuine Learning Blog – AICPA Ethics: Simultaneous Employment Proposal
GFOA explores rethinking financial reporting to enhance usability and efficiency, addressing limited audience engagement with annual government financial reports.
View from the Dome February 14, 2025
State economists met and increased the budget estimate for next year due to our growing economy. The House passed its first major legislative priority dealing with energy generation. Numerous subcommittees met in both bodies, advancing legislation.. On Tuesday, the House Agriculture, Natural Resources and Environmental Affairs Committee adopted H. 3814 (Rep. Hixon), a Joint Resolution relating to …
Genuine Learning Blog: FASB Proposes Changes to Grant Accounting for Businesses
GFOA explores rethinking financial reporting to enhance usability and efficiency, addressing limited audience engagement with annual government financial reports.
Love Our Legislators Day: Sweet Success at the State House
On Wednesday, February 12, SCACPA members gathered in Columbia for the second annual Love Our Legislators Day. This impactful event strengthened connections between CPAs and their elected officials. This high-energy day was a fantastic opportunity to share the CPA story and advocate for the profession. The day began with a welcome breakfast, setting the stage …
National Pipeline Advisory Group (NPAG) Releases Official Report
Author: Jaclyn Veno, CPAThis article originally appeared in the Fall 2024 issue of the South Carolina CPA Report The AICPA’s National Pipeline Advisory Group (NPAG) initially began work in July 2023 to respond to the accounting talent shortage, which is currently one of the accounting profession’s most pressing issues. After extensive research, surveys, and stakeholder …
Alert for SC Tax Professionals: IRS System Error Causing Erroneous Late Filing Notices
South Carolina CPAs, take note: The IRS has confirmed a systemic input issue that caused erroneous late filing penalty notices for taxpayers in disaster-affected areas. We have learned some South Carolina zip codes were not correctly flagged for disaster relief, leading to unnecessary penalty assessments and, in some cases, improper enforcement actions. What You …
View from the Dome February 7, 2025
The General Assembly met in a Joint Session this week for the election of judges. Numerous subcommittees and committees met to advance bills, including several major priorities of school choice, energy security and restructuring the state’s behavioral health agencies. On Tuesday, by a unanimous vote, the Senate adopted S. 103 (Senator Climer), which would make it unlawful …