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Unscripted: Accounting for Cryptocurrency

Alfred Mitchell Innes, a monetary scholar of the 20th century once stated, “The hand has never touched, nor the eye seen, a dollar.” As money is a unit of measure, the physical object by which we measure it could – in theory – be anything, from bottle caps to gold coins. In 2021, more and more are choosing to measure it in bits and, as always, financial advisors and accounting professionals have one more thing to add to their ever-growing acumen.

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HealthCare

Continuing Conversations: The Role of Education in Personal Finance

More public high schools nationwide are integrating personal finance into their curriculum than ever, but only six states mandate a standalone course for graduation. MICPA Financial Literacy Task Force member and author of “Let’s Be Fair” Robyn Fuller, CPA, discusses the revelations of her research and why more states need to adopt personal finance requirements.

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The Way You Give Feedback Is All Wrong

It's a lesson in emotional intelligence. ... Here's How to Do It Right ... So I asked myself: How do you give critical feedback in a way that others ...

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The Adviser’s New Dilemma

According to recent reports by Bankrate, there is a rising trend among millennial couples – more than half are committing financial infidelity against their current partner1. While this type of financial deception occurs at differing levels, from minor purchases to major money secrets, one commonly occurring theme is the absence of open communication among these couples regarding finances. The motivation for that lack of communication, however, is where the nuance of the situation lies.

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COVID

Temporary Extension of Time Under Rule 1220

Pursuant to SR-FINRA-2020-026 as extended by SR-FINRA-2020-043 and SR-FINRA-2021-005, FINRA has adopted temporary Supplementary Material .07 under FINRA Rule 1220 providing that individuals who were designated to function as Operations Professionals prior to March 3, 2021 will be given until June 30, 2021 to pass the appropriate examination. FINRA does not anticipate providing any further extension of this relief beyond June 30, 2021.

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3 Tools to Help Leaders Steady Their Teams During a Transition

When we experience a big change, we need support to help us make it to the other side. Developmental psychology, and particularly the seminal work of D.W. Winnicott, offers a way to do this: through transitional objects. These objects — whether they take the form of a physical item (like a security blanket) or something more abstract (like a routine, habit, or action) — provide the necessary grounding to help us navigate uncertainty.

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GAO: Guidance for single audits should be more timely, responsive

The timing and content of key yearly federal guidance provided to single audit practitioners needs to be more responsive to auditors’ input and needs, according to a U.S. Government Accountability Office (GAO) report to Congress.

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MICPA’s Top 10 Home Office Gadgets to Make Work Life Better (or More Fun)

From computer accessories to noodles (yes, noodles), get our picks for the top 10 gadgets you should add to your home office in 2021. Plus, find out what helpful gadgets the MICPA Emerging Leaders Task Force can’t live without.

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Pushing Financial Literacy Forward in 2021

Once again, the MICPA is excited to continue its efforts to drive financial literacy to new heights in 2021. After a year of global uncertainty, the importance of building better financial awareness in our communities and at home is paramount. Find out why financial literacy is important to you, what you can do to get involved and what topis to watch for in this year’s coverage from the MICPA.

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Additional Guidance Available on Treatment of Unemployment Compensation for Tax Year 2020

LANSING, Mich. - The Michigan Department of Treasury has posted a notice for taxpayers related to the treatment of unemployment compensation for tax year 2020.

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