TSCPA News

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Elizabeth Watkins Selected to Attend AICPA's Leadership Academy

August 16, 2017 Elizabeth Watkins, CPA, was one of only 38 CPAs honored by the American Institute of CPAs (AICPA) as a member of the Leadership Academy’s ninth graduating class. Watkins was selected based on her exceptional leadership skills and professional experience for the four-day Leadership Academy program, which will be held from October 1-5 in Durham, N.C.

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FASB Proposes Changes to Not-for-profit Grant and Contribution Accounting

August 16, 2017 The Financial Accounting Standards Board (FASB) recently issued a proposed Accounting Standard Update (ASU) intended to clarify and improve the scope and the accounting guidance for contributions received and made, primarily by not-for-profits. Stakeholders are asked to review and provide comment on the proposed ASU by November 1, 2017.

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TSCPA Hosts Accounting Curriculum Training for High School Teachers

August 2, 2017 In an effort to increase the amount of high school students taking college-prep accounting courses across the state, the Tennessee Society of CPAs partnered with the American Institute of CPAs (AICPA) and the Kentucky Society of CPAs to bring the third annual Accounting Pilot and Bridge Project (APBP) to Tennessee.

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2017 Global risk oversight report

June 28, 2017 This report from CIMA summarizes the perspectives of 586 executives in organizations around the world and provides an overview of the current state of enterprise-wide risk oversight.

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GASB Establishes Single Approach for Reporting Leases

June 28, 2017 GASB Statement No. 87, Leases, provides guidance for lease contracts for nonfinancial assets - including vehicles, heavy equipment, and buildings - but excludes nonexchange transactions, including donated assets and leases of intangible assets (such as patents and software licenses).

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Final Legislative Update - June 2

June 2, 2017 The bills on the following list have been identified by TSCPA’s legislative tracker as bills of interest to the CPA profession. They may be viewed in their entirety at www.legislature.state.tn.us/. If you have questions or comments, please email tscpa@tscpa.com.

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Streamlined Sales Tax Delayed

April 20, 2017 The Tennessee General Assembly recently enacted a law that delayed the start date of the Tennessee sales and use tax provisions that bring Tennessee sales and use tax law into compliance with the Streamlined Sales and Use Tax Agreement (SSUTA). The provisions are now set to take effect July 1, 2019.

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