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GASB Issues Proposed Implementation Guide on Leases

The Governmental Accounting Standards Board (GASB) has issued a proposed Implementation Guide (PDF) that contains questions and answers about the GASB’s new standards on accounting and financial reporting for leases. The Exposure Draft proposes answers to questions about GASB Statement No. 87 ,

New Law Forces Accounting Firms to Disclose Investigations

The U.S. Defense Department (DoD) will soon force accounting firms it hires to disclose investigations they face, a requirement that chips away at federal protections that have long helped keep flawed audits of public companies under wraps. The directive was slipped without notice into last August’s

NASBA Proposes Peer Review Changes

The National Association of State Boards of Accountancy (NASBA) is proposing changes to the Uniform Accountancy Act (UAA) Model Rules related to peer review programs. The UAA is a nonbinding model designed to provide best practices for state laws and regulations related to the accounting profession.

The CPA Exam in 2017, by the Numbers

After a record 2016, the number of candidates taking the CPA Exam dipped somewhat in 2017, according to data recently released by the National Association of State Boards of Accountancy (NASBA). Virginia was the sixth-highest volume state, with 7,813 sections taken. Click here for more information.

Executive Director Jewell Leaving VBOA

Virginia Board of Accountancy (VBOA) Executive Director Wade Jewell will leave the organization effective Aug. 1, the agency announced in its summer 2018 newsletter. Jewell leaves the VBOA to join the executive team at the National Association of State Boards of Accountancy (NASBA) as president of

Can You Be Too Lean?

The implementation of lean, if done carefully and contentiously, benefits not only the bottom line but also helps define an organization’s culture: what people say as much as what they do and how they interact. The dialogue within a company fundamentally changes: continuous improvements (kaizen),

Intermediate 2 Accounting Revenue Recognition Papers

Intermediate 2 Accounting Papers In the fall semester in 2014, students in Intermediate 2 Accounting, a Virginia Tech course taught by John Brozovsky, Ph.D., researched how changes in revenue recognition will affect various industries. Click the links below to view the students' research.

Top Firms Roundtable: It’s About Relationships

As always, the future of the CPA profession was a majortopic of discussion at the VSCPA’s Top Firms Roundtable, held at the Williams Mullen offices in downtown Richmond on Sept. 16. This annual event brings together leaders from Virginia CPA firms to discuss trends impacting the profession and their own businesses. This year, discussion centered on the beginning and end of the CPA career cycle — sort of, that is. The career end discussed at Top Firms wasn’t the usual issue of

North Carolina Department of Revenue Strengthens Statutes for Information Reporting From Occupational Licensing Boards

The North Carolina Department of Revenue (NCDOR) has issuedinformation related to G.S. 105-251.2(a), including changes to information reporting requirements for occupational licensing boards aimed at increasing tax compliance. The statute changes require occupational licensing boards in the state, including the North Carolina State Board of CPA Examiners, to provide the NCDOR with information related to their licensees, including: Licensee name License number Tax Identification Number Business

How to Ask for a Raise With Confidence

Would you ratherendure a root canal than approach your boss about a raise? According to a study from global staffing firm Robert Half , the idea of asking for a pay bump causes workers so much anxiety that some would prefer to do almost anything else — even if they believe they deserve more money. Their angst may well be because they don’t know how to ask for a raise. Employer confidence versus self-confidence Eighty-nine percent of U.S. workers surveyed for the study believe they