Blog
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Updates: Beneficial Ownership Information (BOI) Reporting Requirements
The Corporate Transparency Act (CTA) introduced significant changes to reporting requirements for millions of small businesses, with the aim of combating money laundering and enhancing transparency. However, ongoing legal challenges have created uncertainty regarding compliance deadlines and enforcement. AAFCPAs is following developments closely and will share updates as appropriate. The following aims to provide the […]
Reframing AI and the Evolution of the CPA’s Role
Colorado Society of CPAs- Artificial intelligence (AI) has garnered significant attention in the accounting profession in recent years. To better understand its potential impact, it is useful to reflect on lessonsfrom past technical advancements in the field. With this foundation, we can shift ourfocus to how AI can reshape current practices and the practical steps […]
Flood Shares Leadership Insights at San Diego Firm Growth Forum
AAFCPAs’ Destiny J. Flood, CPA, Commercial Partner, Outsourced Accounting & Fractional CFO will be joining a panel discussion on the evolving role of CPA firm partners at Accounting Today’s Firm Growth Forum. This session, Next-Gen Perspectives: Insights from Newly Minted Partners, will highlight the journeys of new partners, their motivations for leadership, and how they […]
HRSA Cancels 2025 UDS+ Reporting Requirement
AAFCPAs would like to make clients aware that the Health Resources and Services Administration (HRSA) announced health centers will not need to submit the UDS+ report for the 2024 reporting year, originally due May 30, 2025. This update was shared during HRSA’s BPHC Program Updates webinar this week and confirmed in the Primary Health Care […]
How to Make Inventory Decisions That Drive Profit
Challenges to Profitability in the Cannabis Industry Profitability in the cannabis industry is challenging due to a combination of regulatory hurdles, banking restrictions, high tax rates, intense market competition, and cash flow management issues. The complex regulatory environment increases compliance costs, while federal laws limit access to traditional banking resources. Additionally, IRS Code Section 280E […]
Avoiding Costly Mistakes in Software Implementation
The Key to Successful Software Implementation is Careful Planning Implementing new software offers more than just a chance to update systems; it’s an opportunity to refine how your organization operates. While the drive to launch quickly may seem appealing, rushing the process can lead to missed opportunities, inefficiencies, and even long-term complications. A deliberate and […]
Pursuit of happiness: AICPA Chair Carla McCall emphasizes people, positivity
Journal of Accountancy (April 16, 2025)- A chair, by definition, is stationary. A chair, when occupied by Carla McCall, CPA, CGMA, is anything but. “Some chair roles are like, ‘Oh, you’re the chair, but you don’t really do much,’” McCall said. “This chair position is immersed in the profession.” McCall’s tenure as AICPA chair has […]
Navigating Economic Uncertainty: Strategies for Nonprofit Resilience
In this article: Economic volatility threatens not only nonprofit organizations but also the communities they serve. Funding uncertainty may disrupt essential services, particularly for vulnerable populations who rely on healthcare, housing, and social support programs. As costs rise and providers consolidate, access to care may become more limited, leaving individuals and families with fewer options […]
Pickleheads, the Wheel of Life, and Personal Growth
As a wealth advisor and a former clinical psychologist, I’ve always believed that true financial well-being is about more than just dollars and cents. It’s about creating a life that feels balanced, meaningful, and fulfilling in all areas. One of my favorite tools to support this mindset is the Wheel of Life—a simple yet powerful […]
Navigating Funding Uncertainty: Strategies for Life Sciences Organizations to Mitigate Risk
In the life sciences sector, where innovation often relies on grant funding, financial stability has become increasingly uncertain. Federal budget constraints and shifting political priorities pressure organizations to adopt a proactive approach to managing grants. As opposed to reacting to changes as they happen, AAFCPAs advises that clients anticipate potential funding risks and implement strategies […]