This episode includes a discussion on an SEC proposal to change the frequency of reporting and the implications of doing so. It also highlights a new tool from NASBA to help with CPA license mobility as states continue to adopt multiple pathways to CPA licensure. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* CPA Mobility tool (https://cpamobility.org)* Accounting and auditing articles and events (https://www.njcpa.org/stayinformed/hubs/topics/auditing)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

As finance teams face mounting pressures, from talent shortages to increasing reporting demands, many are turning to outsourcing as a strategic solution. At the same time, artificial intelligence is reshaping how financial information is processed, analyzed and reported. Hear about a new report from the Financial Executives International and CohnReznick about how outsourcing in finance and accounting is evolving in the age of AI. Topics discussed:* Overview of survey findings* The most pressing issue for finance leaders right now* Uncertainty about the role of AI* How finance leaders should approach AI when making outsourcing decisions* Opportunities and challenges with outsourcing* Advice for finance leaders considering outsourcingResources:* Full report: Financial and Accounting Outsourcing in the Age of AI* Highlights of report (https://www.financialexecutives.org/About-FEI/For-the-Press/2025/New-Report-from-FEI-Addresses-How-Finance-Teams-ar.aspx)

The Financial Accounting Standards Board issued a new standard the that addresses concerns about accounting for derivatives. It covers the application of derivative accounting to contracts with features based on the operations or activities of one of the parties to the contract as well as the diversity in accounting for share-based noncash consideration from a customer that is consideration for the transfer of goods or services. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* FASB Issues Standard on Derivatives Scope Refinements (https://www.fasb.org/news-and-meetings/in-the-news/fasb-issues-standard-on-derivatives-scope-refinements-423111)* Accounting and auditing articles and events (https://www.njcpa.org/stayinformed/hubs/topics/auditing)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

How can public policy, private enterprise and smart regulation work together to build a stronger New Jersey economy? Eric Brophy, former Deputy Chief of Staff for Economic Growth to Governor Phil Murphy and now co-chair of the new Government & Regulatory Law Group at CSG Law, joined us to discuss his time in the Governor’s Office shaping state economic initiatives, his new role at CSG and what’s ahead for New Jersey’s business and regulatory landscape. Topics discussed:* The biggest policy or political challenge Eric faced* How New Jersey can best compete with neighboring states for major business investment* One economic development initiative Eric wishes got more public attention* Misconceptions about how businesses can engage with state agencies* Eric’s new role at CSG Law* Addressing common stumbling blocks for private entities dealing with state government* Major economic or regulatory trends shaping New Jersey in the next 3-5 years* If he had a magic wand, the one aspect of New Jersey’s business climate Eric would improveResources:* Connect with Eric Brophy (https://www.csglaw.com/people/eric-d-brophy/)* About CSG Law’s Government & Regulatory Law Group (https://www.csglaw.com/service/government-regulatory-law/)* Economic and regulatory news (https://www.njcpa.org/stayinformed/hubs/topics/economy)

A new report from the Illinois CPA Society (ICPAS), titled The Readiness Divide, explores the disconnect between how early-career accounting and finance professionals view their skills and how their managers assess their readiness. Geof Brown, president and CEO of ICPAS, discusses the report’s findings, including gaps in communication, critical thinking, problem solving and even tech skills – and what these gaps mean for the accounting profession. Topics discussed:* Overview of the report and why it was created* The disconnect between self-awareness and employer expectations* Risks if gaps in communication, critical thinking and problem-solving are not addressed* Practical steps to close the divide* Final takeaways Resources:* The Readiness Divide: How Next-Gen Accounting Talent Measures Up* Career Development Knowledge Hub (https://njcpa.org/career)* Employee Management Knowledge Hub (https://www.njcpa.org/hub/employeemanagement)

We’re covering three topics in this episode: proposed modernization of peer review administration requirements, proposed private-equity-related updates to peer review standards and guidance on attest client association. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* Proposed Peer Review Standards Update No. 3, Modernizing Peer Review Administration Requirements (https://www.aicpa-cima.com/resources/download/proposed-peer-review-standards-update-no-3-modernizing-peer-review)* AICPA Seeks Comment on Administrative Peer Review Proposal for Firms with Private Equity Backing and Other Alternative Practice Structures (https://www.aicpa-cima.com/news/article/aicpa-seeks-comment-on-administrative-peer-review-proposal-for-firms-with)* PEEC releases guidance on attest client association, simultaneous employment (https://www.journalofaccountancy.com/news/2025/sep/peec-releases-guidance-on-attest-client-association-simultaneous-employment/)* Accounting and auditing articles and events (https://www.njcpa.org/stayinformed/hubs/topics/auditing)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

One of the hottest topics in the profession right now is compensation. Accounting Today recently released its 2025 Salary Survey, which offers a comprehensive look at pay across firms of all sizes and levels.Dan Hood, editor in chief of Accounting Today, breaks down the survey results and what they mean for firms, professionals and the CPA pipeline. Topics discussed:* Key takeaways from the survey* Why salaries have increased* Manager and partner salary increases at smaller firms* Impact of total compensation packages* How small firms are keeping up* Rethinking culture, career development and other non-monetary factors Resources:* 2025 Accounting Today Salary Survey (https://www.accountingtoday.com/list/the-2025-accounting-today-salary-survey)* Career Development Knowledge Hub (https://njcpa.org/career)* Employee Management Knowledge Hub (https://www.njcpa.org/hub/employeemanagement)

Find out about the new standard from the Financial Accounting Standards Board that updates the guidance on accounting for internal-use software costs. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* FASB Issues Standard That Makes Targeted Improvements to Internal-Use Software Guidance (https://www.fasb.org/news-and-meetings/in-the-news/fasb-issues-standard-that-makes-targeted-improvements-to-internal-use-software-guidance-423046)* Accounting and auditing articles and events (https://www.njcpa.org/stayinformed/hubs/topics/auditing)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

This fall, a new advanced placement course is being piloted at 100 high schools across the country. AP Business with Personal Finance is designed to give high school students a strong foundation in business, economics and personal finance and, importantly for the accounting profession, it includes a significant unit on accounting. Hear about the impact of the course from Livingston High School’s Alex Lamon - one of the teachers piloting the program - and Alexander Chang, a student who has taken the course. Topics discussed:* Overview of the AP Business with Personal Finance course* Information about the accounting unit of the course* Student perspective on the AP course* Impact on providing students with business/accounting exposure* Overview of Money Talks Conference* How students view accounting and financial literacy Resources:* About AP Business with Personal Finance (https://apcentral.collegeboard.org/courses/ap-business-personal-finance/about)* New Jersey Council for Economic Education (https://njeconomics.com)* CPA Pipeline Knowledge Hub (https://njcpa.org/cpapipeline)

The AICPA has issued an updated practice aid to help firms implement the new quality management standards. See if it can help you. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* AICPA unveils new QM resources to help firms meet Dec. 15 deadline (https://www.journalofaccountancy.com/news/2025/aug/aicpa-unveils-new-qm-resources-to-help-firms-meet-dec-15-deadline/)* Quality management standards articles and events (https://njcpa.org/stayinformed/hubs/topics/new-quality-management-standards)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

The filing deadline for New Jersey's three property tax relief programs is around the corner. Christina Quinones of the New Jersey Division of Taxation joins us to discuss who is eligible for each program and how to apply. Don’t miss out on the relief you’re entitled to. Topics discussed:* Overview of property tax relief programs* Details on the Senior Freeze program* Application process and deadlines* How to get in-person or online assistance Resources:* Senior Freeze program (https://www.nj.gov/treasury/taxation/ptr/index.shtml)* ANCHOR program (https://www.nj.gov/treasury/taxation/anchor/index.shtml)* Stay NJ program (https://www.nj.gov/treasury/taxation/staynj/index.shtml)* Property tax relief public events (https://www.nj.gov/treasury/taxation/propertytaxreliefevents.shtml)

The GENIUS Act includes robust new requirements for stablecoin users, including reserve backing; transparency and audits; anti-money laundering and sanctions compliance; and restrictions on marketing and yield. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* Accounting and auditing articles and events (https://njcpa.org/hub/accounting)* Cryptocurrency and digital assets articles and events (https://njcpa.org/stayinformed/hubs/topics/blockchain)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

Whether you call it soft skills, people skills, relational abilities or core professional competencies — communication, emotional intelligence and adaptability often make a big difference in a professional’s career growth. CPA and author Jerry Maginnis returns to the podcast to discuss the role of soft skills in a successful career. Topics discussed:* How soft skills can be a differentiator between average and outstanding professionals* How the value of soft skills has changed* The most critical soft skills for young CPAs* How companies can better identify, nurture and reward soft skills among their teams* An example of how soft skills played a crucial role for Jerry Resources:* Jerry’s book, Advice for a Successful Career in the Accounting Profession, How to Make your Assets Greatly Exceed your Liabilities* Career development articles, resources and events (https://njcpa.org/career)

The Financial Accounting Standards Board has issued a new standard for the measurement of credit losses for accounts receivable and contract assets. Are you prepared to implement it? *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* FASB Issues Standard that Improves Measurement of Credit Losses for Accounts Receivable and Contract Assets (https://www.fasb.org/news-and-meetings/in-the-news/fasb-issues-standard-that-improves-measurement-of-credit-losses-for-accounts-receivable-and-contract-assets-422498)* Accounting and auditing articles and events (https://njcpa.org/hub/accounting)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

As the next generation of accountants and finance professionals enters the workforce, one priority stands at the forefront: building a workplace that not only attracts younger talent but also keeps them engaged and inspired for the long haul. Alex Romero of Galasso Learning Solutions. Topics discussed:* Understanding what younger talent values* Creating a culture of belonging* Key elements of emotional intelligence that foster retention and engagement* The importance of emotional intelligence for young professionals* Other important skills for young professionals* Tactics to build an employee experience that retains and energizes Resources:* Employee management articles, resources and events (https://njcpa.org/hub/employeemanagement)* Career development articles, resources and events (https://njcpa.org/career)* Learn about Galasso Learning Solutions (https://galassolearningsolutions.com)

Does your nonprofit receive government grants? The accounting rules may be changing. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* Proposed FASB ASU: Government Grants (Topic 832) (https://www.fasb.org/page/ShowPdf?path=Proposed%20ASU%20Government%20Grants%20(Topic%20832)%E2%80%94Accounting%20for%20Government%20Grants%20by%20Business%20Entities.pdf)* Accounting and auditing articles and events (https://njcpa.org/hub/accounting)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

Mark Koziel, CPA, CGMA, the new president and CEO of the American Institute of CPAs, recently sat down with Aiysha (AJ) Johnson, MA, IOM, CEO and executive director of the NJCPA, to discuss numerous issues impacting the accounting profession. Topics discussed:* Expanding the pathway to CPA* Mobility concerns* Additional efforts to attract more people to the profession* One Big Beautiful Bill (HR1)* Other pending legislation impacting the profession* The future of the PCAOB* Implementation of new quality management standards* Mark’s priorities for the coming year Resources:* CPA Pipeline Knowledge Hub (https://njcpa.org/stayinformed/hubs/topics/pipeline)* NASBA Licensure Pathway Tracker (https://nasba.org/blog/2025/07/01/new-licensure-pathways/)* One Big Beautiful Bill Knowledge Hub (https://njcpa.org/hub/bbb)* Quality Management Standards Knowledge Hub (https://njcpa.org/hub/qualitymanagement)

Misinformation about the One Big Beautiful Bill was rampant even before it was signed into law on July 4. Joining us to separate fact from fiction about several provisions of the bill is Lauren Landolfi, CPA, shareholder and tax department practice leader at WilkinGuttenplan.  Topics discussed:* Myth 1: There are no federal taxes on Social Security income* Myth 2: The new $40,000 SALT deduction cap is just for married filers* Myth 3: There are no taxes on overtime or tips* Myth 4: There are no changes to the deductibility of charitable contributions* Myth 5: Gamblers can continue to deduct all of their losses* Myth 6: I still don’t need to worry about the AMT Resources:* Events and information about the One Big Beautiful Bill Act (https://njcpa.org/hub/bbb)* Social Security Administration press release (https://www.ssa.gov/news/press/releases/2025/#2025-07-03)

Are you ready to step up your fraud detection game? Following three years of research, the AICPA’s Auditing Standards Board has proposed updates to the Statement on Auditing Standards regarding auditors’ responsibilities related to fraud. Get an overview of the proposal. *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano (https://njcpa.org/nano). *** Resources:* AICPA Seeks Comment on Proposed Update to Auditors’ Responsibilities Related to Fraud (https://aicpa-cima.com/news/article/aicpa-seeks-comment-on-proposed-update-to-auditors-responsibilities-related)* Accounting and auditing articles and events (https://njcpa.org/hub/accounting)* Join the Accounting & Auditing Standards Interest Group (https://njcpa.org/groups)

Get a rundown on what’s included — and not included — in New Jersey’s $58.8 billion budget for fiscal year 2026.Topics discussed:* Overall thoughts on the budget from the business community’s perspective* Tax increases* Assistance to businesses* Property tax relief* Maintaining a budget surplus* Impact of the One Big Beautiful Bill Act on New JerseyResources:* More about New Jersey’s budget (https://njcpa.org/njbudget)