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The WSCPA will be closed Wednesday, June 19th in observance of Juneteenth.

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Q2 2023 in Review

July 24, 2023

The second quarter of 2023 was a slower one for standard setters. We'll look at the standards that were issued and proposed from April through June of 2023 at the FASB, GASB and AICPA.

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Stepping Stones to Licensure

July 24, 2023

Education, Exam, and Experience. These three components serve as the essential building blocks for achieving CPA licensure.

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Keeping Watch: Post-Legislative Session Updates and Ongoing Challenges

July 20, 2023

While the 2023 Washington State legislative session ended in April there are still many challenges and changes coming toward the profession in the months ahead. The Department of Revenue (DOR) and Washington State Board of Accountancy (WBOA) are both going through rulemaking.

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WSCPA Membership Summit 2023: A Resounding Success

July 20, 2023

On June 12-13, 2023, WSCPA members from all stages of their careers converged upon Bellevue, Washington, for the inaugural WSCPA Membership Summit. The event proved to be a remarkable platform for networking, knowledge exchange, and celebrating the accounting profession.

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A New Path Forward

July 17, 2023

The new Chair of the WSCPA Board of Directors, Andrew Brajcich, carries the WSCPA baton into the year ahead. Learn how Andrew plans to advance the CPA profession under his new leadership.

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IFRS Sustainability Disclosures (IFRS S1)

July 17, 2023

The International Sustainability Standards Board (ISSB) has issued the first of their new sustainability disclosure standards. The goal is to provide a single, global baseline of sustainability disclosures to enhance the providing of disclosures. This blog reviews S1, General Requirements for Disclosure of Sustainability-related Financial Information, which were issued recently.

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City of Seattle Releases Updated Rules for Penalties, Warranties and Maintenance Agreements, Computer Software, Computer Hardware, Taxation of Information Services and Computer-Related Services

July 07, 2023

The Seattle Office of City Finance has scheduled a public hearing on updated rules for Penalties, Warranties and Maintenance Agreements, Computer Software, Computer Hardware, Taxation of Information Services and Computer-Related Services. New rules are also being introduced for Digital Products and Information Requests—Aggregation and Confidentiality. The hearing will be held on July 11, 2023, from 10:00 a.m. to 11:30 a.m.

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Ethics Proposal: Public Interest Entities

June 27, 2023

The AICPA's Professional Ethics Executive Committee (PEEC) has proposed a new definition of publicly traded company and has revised the definition of public interest entity as part of their IESBA convergence. The definition explains when AICPA independence standards would apply and when related ethics standards like PCAOB and NAIC standards would apply. Comments are due September 15.

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Claim Chronicles 122: Voluntary Payments

June 26, 2023

This article focuses on the narrow outcome when CPAs settle a claim before contacting their professional liability insurance provider.

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Mastering the Art of Networking: A Guide for Accounting Students

June 22, 2023

As an accounting student, you're likely aware of the significance of networking in today's competitive job market. Building connections with accounting firms not only increases your chances of securing internships and full-time positions but also provides valuable insights and mentorship opportunities. Let’s explore the best ways for accounting students to network effectively with accounting firms, allowing you to pave a path towards a successful career in the field.

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CPAs from Washington Visit Capitol Hill to Discuss Issues Important to Accounting Profession

June 06, 2023

Last month, CPAs from Washington joined their partners at the American Institute of CPAs (AICPA) in Washington, D.C. to meet with lawmakers on issues important to the accounting profession during the AICPA Spring Meeting of Council and Annual Members Meeting.

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Spring Council 2023

June 06, 2023

This week's GLS Genuine Learning Blog gives an overview of the happenings at the Spring 2023 AICPA Council meeting with a look at the agenda and key topics covered during Hill visits. We'll review the key focus areas of the 2 day meeting.

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2023 Compliance Supplement

May 30, 2023

On Friday May 19, the Office of Management & Budget issued the 2023 Compliance Supplement. This blog will review the largest changes of the various parts of the Supplement. The new Supplement is effective starting with our June 30, 2023 year ends.

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Celebrating Women in Leadership

May 25, 2023

Recently the WSCPA celebrated International Women’s Day and Women’s History Month by recognizing the contributions women have made to the accounting profession.

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Risk Management Considerations for Firms Contemplating Outsourcing

May 22, 2023

Outsourcing is a hot topic right now for the profession as CPA firms struggle with staffing constraints. Current challenges associated with firms attracting and retaining talent are expansive and include issues such as staffing qualified professionals for complex engagements, employee burnout, unrealistic and “heavy” workloads, as well as limitations on the ability to maintain and foster high-touch client relationships.

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The AI Revolution: How ChatGPT is Redefining the Way We Work

May 18, 2023

The internet has been buzzing with the latest leap in technology, ChatGPT. This innovative AI tool has the potential to revolutionize the way CPAs work. Find out what this means for our profession and you.

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Beneficial Ownership Information Rules: What CPAs Need to Know

May 17, 2023

Under the Financial Crimes Enforcement Network (FinCEN)’s Corporate Transparency Act, most businesses created in or registered to do business in the United States will need to report information on their beneficial owners to FinCEN starting January 1, 2024. There are stiff taxpayer penalties for noncompliance with this requirement.

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Paying It Forward: The Impact of Washington CPA Foundation’s Scholarship Program

May 15, 2023

It’s no surprise that pursuing a career in accounting can be expensive and that cost is a considerable barrier to many students. Scholarships and other financial assistance become essential to these students and make a real difference in their overall success.

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Dismantling Barriers for Those Who Want to Become CPAs

May 11, 2023

Identifying barriers can be a challenge. We are well conditioned to maintain the status quo if we personally do not see things as broken or cumbersome. We also tend to insert our own experiences, opinions, and biases in everything we do. It takes conscious thought and practice to notice a potential barrier and dissect it. It can be even more difficult to bring others along with you.

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Finding Harmony in Your Workspace: Selecting a Plant to Complement Your Accounting Career

May 09, 2023

You know what qualities and expertise are needed in your accounting field, but did you know there’s a plant species that can actually complement those qualities? We’ve put together a fun list of accounting types and matched them with a common houseplant (or office plant) that is sure to thrive and bloom in your particular environment.

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