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Children's average allowance in 2019: $120 a month

10/7/2019

How a kid's allowance can teach money-management skills

10/2/2019

An AICPA survey has found that a majority of parents pay their children an allowance, with an average rate of $30 a week. However, only a tiny percentage of children put away any of that money. If you want your kid to develop mature money-management skills, turn allowance into a teachable moment.

Children's average allowance in 2019: $120 a month

10/1/2019

Children receive an average of $120 a month in allowance, according to an AICPA survey. Eight in 10 parents say their children must do chores in exchange for allowance money. Almost half of parents say they talk about money with their children at least once a week.

AICPA seeks guidance on adjustments for conversions from S corp. to C corp.

9/27/2019

In comments submitted to the Internal Revenue Service, the AICPA requested expeditious guidance concerning adjustments attributable to conversions from an S corporation to a C corporation.

TQAs discuss 2019 Compliance Supplement's guidance for performing single audits

9/25/2019

Guidance for performing single audits is contained in the Office of Management and Budget's 2019 Compliance Supplement. Background information and discussion of the guidance is included in Technical Questions and Answers 9110.24 to 9110.27 issued by the AICPA.

AICPA finds public accounting hiring model shifts

9/20/2019

The AICPA's 2019 Trends in the Supply of Accounting Graduates and Demand for Public Accounting Recruits report says technological advances and new-hire upskilling needs continue to affect the accounting profession. The report also reveals undergraduate accounting enrollment was the second highest on record in 2017-18.

Report finds shift in accounting firm hiring

9/11/2019

A record 44% of enrollees in accounting bachelor's degree programs were nonwhite in the 2017-18 academic year, according to an AICPA survey. There was a nearly even gender split among enrollees in bachelor's and master's programs. In addition, the report shows that firms are increasingly hiring nonaccounting graduates.

Hurricane Dorian: Protect yourself and clients

8/29/2019

If you're in Hurricane Dorian's path, take every necessary precaution to stay safe. In this blog from last September, the AICPA collated a list of pre- and post-disaster resources, including ways in which you can provide or receive assistance.

Determining materiality for nonquantitative subject matters

8/22/2019

Emerging engagements such as sustainability attestation services and System and Organization Controls reports require auditors to consider materiality for subject matters that can't be quantitatively measured. An AICPA invitation to comment and discussion paper provide information and seek feedback on the issue as nonauthoritative guidance is developed.

CEOs: Corporate responsibility goes beyond shareholders

8/20/2019

The Business Roundtable, made up of CEOs from some of the biggest corporations, has adopted a statement that says maximizing shareholder value should not be the only priority of businesses. The statement says companies should also consider the well-being of employees, suppliers and the environment. For information on enhanced business reporting, visit the AICPA Financial Reporting Center page devoted to the topic.