The IRS finalized a new law for depreciation under the Tax Cuts and Jobs Act (TCJA), allowing businesses to immediately expense more qualified property. The final regulations put into effect the August 2018 proposed regulations but include some modifications. The final regulations include expensing of section 179 property, an increase in bonus depreciation from 50% […]
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Surgent CPA Review introduces MyMCQ™, a machine-learning-powered progressive difficulty feature
Surgent CPA Review, an exam prep provider known for its innovative personalized learning software, recently announced an enhancement called MyMCQ™ to its machine-learning algorithm. MyMCQ automatically adjusts the difficulty level of multiple-choice questions based on each candidate’s level of proficiency in that particular topic, pushing them to more advanced competency levels and getting them exam […]
New FASB accounting standards update to debt classification in classified balance sheet
After receiving comments from various stakeholders following an initial proposal in 2017, on Sept. 13, the FASB rereleased proposed Accounting Standards Update, Debt (Topic 470): Simplifying the Classification of Debt in a Classified Balance Sheet (Current versus Noncurrent). The standard applies to all for-profit and not-for-profit companies that have outstanding debt and prepare a classified […]
Top Excel skills for accountants
Ask any accountant in any field which software they use on a daily basis, and the most common answer will be Microsoft Excel. The spreadsheet tool is perfect for anyone working in the finance and accounting fields due to its versatility and specific financial applications. At this point, it’s expected that you be proficient in […]
6 ways to improve your CPA Exam score
It’s one thing to fail a test when you haven’t invested your full effort. However, when you fully invest your time and effort, only to come up just a little bit short, it’s among the worst feelings in the world. Failing a section of the CPA Exam can feel like an overwhelmingly negative setback. At […]
2020 CMA Exam Content Changes Released
Starting January 1, 2020, the CMA exam will undergo substantial changes to ensure that the certification is current, relevant, and valid for accountants seeking to work in management accounting. The Institute of Certified Management Accountants (ICMA) decided on these changes after performing a thorough job analysis. Both parts of the exam will feature changes to […]
The Certified Internal Auditor Exam Expands Globally
The Institute of Internal Auditors (IIA) is expanding the Certified Internal Auditor exam to several new languages to accommodate international candidates seeking the credential. As the only globally recognized internal audit certification, it is important that the CIA exam be accessible to a multitude of audiences across the world. The IIA estimates that there are […]
IIA Changes CIA Eligibility Requirements
Starting September 1, 2019, The Institute of Internal Auditors has changed the Certified Internal Auditor (CIA) program eligibility window from four years to three years. This change reflects the time it normally takes candidates to complete the CIA certification process, and candidates within the three-year program will be able to request a one-year extension if […]
Audit Analytics: How Data Analytics is Transforming the Internal Auditing Field
In today’s business environment, how a company works with “big data” has become analogous with how well that company does within its industry or market. Being able to effectively work with data to drive business decisions and develop business insights is the difference between a competitive company and a company behind the curve. Data analytics […]