At an NJCPA Accounting Educators Workshop on May 3, several of New Jersey's top accounting professors came together with accounting practitioners and the New Jersey Business & Industry Association to discuss what’s needed to entice more students to enter the accounting profession.

Non-public businesses with fiscal year ends beginning after Dec. 15, 2022, (or interim periods during 2023) should begin preparing for the adoption of Financial Accounting Standards Board ASC Topic 326 by developing policies and procedures. CPAs need to stay up on what has changed in the current expected credit loss (CECL) model and what is new such as forecasts.