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Genuine Learning Blog

Welcome to the Genuine Learning Blog—a video series dedicated to keeping CPAs informed about the latest trends, standards, and insights in the accounting profession. Packed with essential updates and in-depth industry analyses, our videos are your go-to resource for navigating the ever-evolving world of accounting. Don’t miss a thing—subscribe to the Genuine Learning Newsletter for timely updates and exclusive content!

Brainstorming at the GLS Retreat in New Orleans 2024
FASB & AICPA Issue Annual Reports

FASB & AICPA Issue Annual Reports

Both the FASB & AICPA are nonprofit organizations that make their financial statements available to the public. Both organizations also have a December fiscal year end which means they both recently issued their annual reports. This blog will introduce you to the...

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IFR4NPO ED3

IFR4NPO ED3

The International Financial Reporting for Nonprofit Organizations (IFR4NPO) has issued the last of its 3 exposure drafts intended to create the world’s first internationally applicable financial reporting guidance for nonprofits. ED1 was issued in 2022 and ED2 was...

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2023 Enhancing Audit Quality Report

2023 Enhancing Audit Quality Report

Through the Enhancing Audit Quality initiative, the AICPA promotes high quality auditing and assurance, with a focus on subject matter that has created challenges for practitioners. According to the 2023 Enhancing Audit Quality (EAQ) Report, the AICPA's areas of focus...

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Proposed Ethics Interpretation on Recruiting

Proposed Ethics Interpretation on Recruiting

The AICPA’s Professional Ethics Executive Committee (PEEC) has issued another proposed interpretation, this one addressing recruiting as a nonattest service. The proposal provides updated guidance on the threats to independence as part of the AICPA’s IESBA convergence project. Comments are due September 10th.

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Ethics Proposal: Tax Services

Ethics Proposal: Tax Services

The AICPA’s Professional Ethics Executive Committee (PEEC) is proposing changes to the tax services rules with respect to independence. As part of their IESBA convergence, the rules address the potential advocacy threats created by providing tax advisory services to attest clients. Comments are due by September 10, 2024.

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Proposal: CECL & Programmatic Investments

Proposal: CECL & Programmatic Investments

The AICPA has released a proposal of Chapter 8 of the Not-for-Profit A&A Guide on Programmatic Investments. The chapter provides context as to the impact of CECL on programmatic investments including examples. Comments are due July 12, 2024.Check out our CPE...

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2024 AICPA Spring Council

2024 AICPA Spring Council

This week the AICPA Council met in Orlando, Florida. This blog will give an overview of the topics discussed along with key highlights from the meeting including the inauguration of the 111th Chair of the AICPA, Carla McCall!Check out our CPE webcasts for more great...

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PCAOB – Auditor Use of Data and Reports

PCAOB – Auditor Use of Data and Reports

This week’s blog provides an overview of a recently issued PCAOB Spotlight that can help firms with evaluating audit evidence. While the report is issued by the PCAOB, many of the insights also apply to private companies.

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Disclaimer: The information contained within this blog is provided for informational purposes only. Viewing this material does not qualify for CPE credit. Additionally, this general knowledge is not intended to substitute for obtaining accounting, legal, or financial advice from a professional accountant with specific knowledge of your organization. Finally, watching this blog and/or subscribing to the newsletter do not create an accountant-client relationship.

MONEY MATTERS

FOR NONPROFITS

Money Matters for Nonprofits demystifies financial statements and basic accounting, empowering nonprofit board members to better advise their organizations and make an even greater difference in the world.

Jaclyn Veno CPA | Auditing Level Training | CPE

Melisa Galasso, CPA, CSP, CPTD

Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting.

Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts.

Melisa is a Certified Speaking Professional, a Certified Professional in Talent Development (CPTD), and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers.

She also serves on the FASB’s Not-for-Profit Advisory Committee (NAC), AICPA Council, and the AICPA’s Women’s Initiative Executive Committee (WIEC). She also serves as a Subject Matter Expert for the Center for Plain English Accounting. She previously served on the AICPA’s Technical Issues Committee (TIC), the VSCPA’s Board of Directors, and is a past Chair of the NCACPA’s A&A committee. In addition, Melisa is the author of Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting which is available on Amazon or anywhere you purchase books online.

Melisa received a Top 50 Women in Accounting Award in 2021 by Ignition, is a 2020 Enterprising Women of the Year Award recipient, and was honored as a “40 under 40” by CPA Practice Advisor in 2017, 2018, and 2019. She was also named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.