Jim Stice

In this session, we explain the accounting and Retirement of treasury stock using the cost method. Start your free trial: https://lnkd.in/g4hZAp2 Whether you are an accounting student, CPA, CMA or EA candidate, Farhat Lectures can help. How to use Farhat + your CPA review course: https://lnkd.in/eyuW3Fz3 Add Farhat to your CPA exam review course whether it is Becker, Uworld, Gleim, Miles, Surgent or other. ❌I don’t replace your CPA course. Farhat is: ✅mapped to your CPA course ✅explain the material in depth ✅provides tons of MCQs including AICPA ✅Support and guidance by Farhat and his team. #accountingstudent #accounting #accountant #accountingmajor #cpaexam #cpaexams #cpaexamtips #cpaexamstudy #pwc #kpmg #ey #deloitte #accountingstudents

2

Post Tax Day: Your Business Action Plan Tax Day is a checkpoint, not the finish line. Most business owners breathe a sigh of relief after April 15. But the smart ones use it as a launchpad for the rest of the year. Here's your post-April action plan: By filing status: ✅ Filed on time? Review your "Safe Harbor" number. Divide your 2025 total tax by four → that's your 2026 quarterly payment. ⚠️ Missed the deadline? File immediately. The 5% late-filing penalty is 10x higher than the late-payment penalty. 📂 Filed for extension? Start gathering documents now—receipts, 1099s, everything. Don't wait until October. Key deadlines: 📅 April 30 – Form 941 payroll tax deadline (all employers with W-2 workers) 📅 June 15 – Q2 estimated tax payment due The real shift: Stop treating taxes as a once-a-year event. Reconcile books monthly. Schedule a CPA planning meeting in Q3. Estimated penalty reality check (on a $10K tax bill): 1 week late → $500 (5%) 3 months late → $1,500 (19%) Penalties add up fast. Don't learn that the hard way. Which step will you tackle first? 👇 Delivering Financial Clarity You Can Trust. — Shamim, CPA #TaxPlanning #SmallBusinessTaxes #CPA #BusinessFinance #EstimatedTaxes #TaxDeadlines #FinancialClarity #EntrepreneurMindset #TaxStrategy #ShamimCPA

1

What exactly does your CODM review and does your segment footnote reflect it? Segment reporting is back in focus as registrants implement ASU 2023-07 under ASC 280. A key theme in recent SEC questions is the disclosure of significant segment expenses. When expense categories are regularly provided to the CODM and used to assess performance or allocate resources, regulators expect to see them disclosed by segment. When segment expenses are not presented, companies are often asked to explain what information the CODM reviews instead. At LMAM Consulting, we help teams align CODM reporting, ASC 280 conclusions, and filing ready segment disclosures to reduce avoidable back and forth. #SegmentReporting #ASC280 #ASU202307 #FinancialReporting #TechnicalAccounting #CODM #CODMreporting #LMAMConsulting

2

At CPA Trendlines: Burnout, Be Gone: Accounting Needs a Boundary Breakthrough | ARC: Learn how to protect your time, energy, and sanity in a world of nonstop pings. Accounting ARC With Liz Mason, Byron Patrick, and Donny Shimamoto Center for Accounting Transformation Go PRO for members-only access to more Center for Accounting Transformation. http://dlvr.it/TL5RS3 #CPA #tax #accounting

1

Accounting isn’t losing relevance. It’s changing shape.  When Saul Sony asked Leroy Kerry what he would say to a college student today, the answer was clear. AI will handle more of the knowledge work, but the real value will live in relationships, judgment, and trust. That’s why accounting remains one of the most durable professions out there.  Watch the full podcast conversation here: https://lnkd.in/dXuX8x-S    #MYCPEONE #WTFPodcast #FutureOfAccounting 

16

🧵 Are you relying too much on your tools? In this AI Hub Podcast clip, Adam Parks tells a story from his high school accounting class that still resonates today: "QuickBooks does it for me." "But do you know what QuickBooks is doing—and if it’s doing it right?" As we apply AI to everyday tasks, the message couldn’t be more timely. Tools can make us more efficient, but they don’t replace understanding. 🔹 Learn why AI requires oversight—just like financial software 🔹 Understand how dependence on automation can create risk 🔹 Build smarter, more accountable workflows 🔗 Clip + Full Episode: https://lnkd.in/eQUu-rNG #AIAccountability #PromptEngineering #ReceivablesInfo #AIinCollections #FintechLeadership

1

I wrote a response to Peter (someone I've worked with and respect alot) in his post, the short version of which is that he accuses academics of being unrealistic and idealistic, but I think that's exactly what he is doing in this post. Both the theory and practice of carbon markets are showing severe problems, and the only explanations I have been able to come up with for their continued popularity in the e-NGO sector are (a) self interest and/or (b) ideological committment. Peter finds a world without carbon markets less hopeful, but I find a world in which people stay ideologically attached to their preferred solutions in the face of contrary evidence less hopeful, and instead find hope in people seeking to craft solutions that work regardless of whether they fit some preconceived notion. TNC, where Peter works, as well as a bunch of other big NGOs and prominent scientists, seem to me to be overly focused on "how do we make carbon markets work?" instead of the more important question, which is "how do we make carbon storage in the land system work?" Its of course possible that something will turn carbon markets around and they will start being effective, but why do we have to wait for that when there are plenty of locally crafted solutions that work quite well?

56

11 Comments

How can our profession bridge the talent pipeline gap? Accounting+ is driving interest in the accounting profession among high school and early college students by introducing them to accounting careers in the classroom, a key setting to shape how students see their future. By breaking down outdated perceptions, making the subject relevant to their interests, and opening doors to real career opportunities, in-classroom engagement is turning curiosity into career ambition. Learn more from Elizabeth Barentzen, JD, ACC, Vice President of Operations and Talent Initiatives, about our latest research report in partnership with EVERFI: https://ow.ly/URV150X2O75 #AuditInAction

9

Markus is moderating a webinar today with Stone and Christine Botosan titled "Inspiring Students with The Accounting Hall of Fame". They will be sharing ideas on how to bring breakthrough and defining moments into the classroom to spark curiosity, elevate professional pride, and motivate the next generation of accountants. American Accounting Association #AccountingHallofFame

16

3 Comments

Luke Watson is spot-on! "Beyond the curriculum, the gift of time is another precious resource that accounting students should not overlook. I tell my students to picture their life under two different scenarios. In the first scenario, they complete their bachelor's degree and go immediately into their career, studying after long workdays to try to pass the CPA exam, while trying to deepen their accounting technical knowledge, technology skills, and trying to socialize and stay physically and mentally well all at the same time. It’s a lot to manage. In the second scenario, they have taken, and hopefully passed, multiple parts of the CPA exam while in their [master's] program, so the CPA exam burden is either gone or greatly reduced. Their technical knowledge and technology skills are much further along because they have taken deep coursework on these topics. They can focus on accelerating their career while maintaining a healthy work life balance." This is a very clear articulation of one of the many reasons why the 150-hour traditional pathway is the better pathway!

29

5 Comments

The manufacturing industry is entering 2026 with both momentum and mounting complexity. AI is scaling fast, automation is expanding, supply chains are shifting, costs are rising, and cybersecurity is becoming non‑negotiable. Leaders are adapting quickly, and the pace isn’t slowing down. Eide Bailly's 2026 Mid‑Market Manufacturing Outlook breaks down what’s driving the industry forward with data on where manufacturers are investing, how they’re navigating challenges, and the opportunities emerging in the year ahead. See the trends shaping the industry. 👉 https://bit.ly/4qW1o7a #Manufacturing #ManufacturingTrends

15

At the end of last week, I shared some general advice on preparing for the CPA exam—both emotionally and academically. To my surprise, that post sparked a wave of responses, including messages from people I’ve never met who wanted to share their thoughts or ask questions. It was an unexpected but very positive experience. Because of that engagement, I’ve decided to take the conversation further. Over the past few days, I’ve compiled a list of study tips—both “academic” and “emotional”—that I’ve given to students throughout my career. Starting this week, I’ll be posting a Tip of the Week to help candidates prepare effectively for the CPA exam. Honestly, these tips apply to other professional exams as well. If you’ve already taken the exam, my posts may bring back some familiar memories. If you’re preparing now—or know someone who is—I hope these insights prove useful. I also welcome dialogue, so if you’d like to discuss any of these ideas, feel free to send me a DM. Tip of the Week (Week 1) Treat the CPA exam like a marathon, not a sprint. Build endurance by pacing your study blocks and managing expectations. Your timeline determines the level of commitment required. You don’t need to be the fastest to pass—you just need to pass. Set your exam date only after confirming you have enough time to prepare. Cramming rarely works; a steady, manageable pace greatly increases your chances of success. For example, if you schedule the exam in 30 days but only have two hours a day, four days a week to study, the odds are not in your favor. Enjoy the journey, and DM me if you’d like to talk more!

24

Check out this video from my blog post at TheAccountingDr.com that examines percentage-based budgeting frameworks, such as the 50/30/20 and 70/20/10 rules, through the lens of strategic wealth stewardship. It highlights how these models offer a simplified starting point for financial management, specifically for young professionals and families who must balance faith-based tithing with high living costs. The video emphasizes the importance of tax optimization, noting how charitable giving and retirement contributions can lower taxable income in high-tax regions like Boston. While these rules promote consistency, we suggests that individuals with complex finances may eventually require zero-based budgeting for greater precision. Ultimately, we argue that the most effective financial plan must align one's spending habits with both spiritual values and long-term tax efficiency. Zero-Based Budgeting: https://lnkd.in/erXDkDEV

5

DOES the FASB LISTEN to CORPORATIONS? (with Lawrence D. Brown) The Financial Accounting Standards Board (#FASB) follows an elaborate #due-#process #procedure when it sets #accounting #standards. Surprisingly, little is known regarding what role submissions before the FASB play in the FASB's decision making process. This study examines one set of FASB decisions, changes between its 1974 and 1978 Exposure Drafts on price-level accounting, and relates it to firm specific characteristics suggested by economic theory. The model suggests that a corporation's influence on the FASB is positively related to its #resources, the number of #diverse #constituencies it represents, and its #previous #success at influencing regulators. Proxies for theses factors are the firm's 1974 net sales, the number of lines of business it disclosed in its 1974 10-K reports, and its 1974 tax subsidy, respectively. The #resources and the #number of #lines of #business variables are found to be significant determinants of corporate influence. The results suggest that #corporations do #influence #FASB decision making, and that some corporations are more influential than others.

2

2 Comments