Careers for CPAs can seem pretty cut and dry: get your accounting degree, pass the CPA Exam and then start out as an entry-level staff accountant in public and work your way up, or switch over to industry at some point. However, the skills required to pass the CPA Exam and become a CPA, and […]
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FAQs: What is blockchain and how does it impact me?
With the influx of new technologies, we know that the role of each accountant professional is changing. But with terms like “blockchain” and “cryptocurrency” being little more than buzz words to a lot of us, Jack Castonguay, our Director of Accounting and License Preparatory content, has answered some of our most frequently asked questions. Get […]
Guidance for accountants navigating cryptocurrency and digital assets
It’s no secret that the United States is in the midst of a digital transformation – that’s easy to see with the growing popularity of cryptocurrencies and digital assets, as evidenced by the huge growth in 2019 that’s expected to surge again in 2020. Much of the criticism surrounding cryptocurrencies relates to its value being […]
Top 6 Trends in Accounting and Auditing for 2020
Believe it or not, we’re already heading into a new decade. Huge leaps have been made in the accounting industry in the previous decade, including a much greater focus on information technology which we’re seeing reflected in both the education and hiring processes. It comes as no surprise that this focus will continue in the […]
Getting Ready for 606: Best Practices for Successful Implementation
Most private companies will shortly be preparing their first set of financials under the provisions of ASC Topic 606, Revenue from Contracts with Customers. Whether you are well-prepared for 606 or still have a while to go, you can always gain valuable insights from somebody who has already gone through it. Join Surgent’s Rich […]
Press release: Surgent Exam Review adds reporting tool Firm360 to suite of services
Surgent Exam Review, an innovator in the exam prep market, recently introduced Firm360™, a reporting dashboard that helps Human Resources and Learning and Development professionals at accounting firms better coach their staff through the exam review process, leading to higher pass rates and more productive employees. After learning from firm partners and mentors that the […]
Will artificial intelligence take over accounting?
Artificial Intelligence (AI) is often used in science fiction to describe robots that take over the world, but lately the term has worked its way into workplaces around the world. As technological innovations become more sophisticated, AI is able to take on specific tasks in industries like customer service and manufacturing that previously could only […]
IRS Offers Safe Harbor to Claim Rental Real Estate as QBI Deduction
The IRS issued Revenue Procedure 2019-38 on September 24th, 2019, finalizing a safe harbor under Section 199A for rental real estate owners to claim a qualified business income deduction of up to 20%. Defining “Rental Real Estate Enterprise” For the real estate business to qualify for the safe harbor, it must meet the definition of […]
IRS Finalizes New Bonus Depreciation Regulations
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% […]