Weekly News Round Up: Reducing College Costs; Decline in Internal Control Audit Deficiencies; and Personal Finance Lessons from Greece

Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.

This week, we highlight Hillary Clinton’s plan to make college more affordable, as well as the AICPA’s concerns about the proposed changes to accounting standards for nonprofits. In addition, the economic crisis in Greece serves as a lesson in personal finance.

Clinton Proposes Plan to Reduce College Costs by Limiting Tax Deductions

Hillary Clinton has rolled out a plan to make college affordable, which will enable students to pay for higher education without taking out costly student loans.

PCAOB Sees Decline in Internal Control Audit Deficiencies

The Public Company Accounting Oversight Board is seeing some improvements in audits of internal control over financial reporting, but also some contradictory findings.

AICPA Outlines Concerns about Proposed Changes in Nonprofit Accounting

The AICPA has sent a comment letter to the FASB weighing in on proposed changes in accounting standards for nonprofits and saying they could create divergence from the financial reporting model used by for-profit businesses.

Key Metric for Close-to-Disclose Cycle Time

According to this CFO Magazine article, the top 25 percent companies could finish the cycle of completing quarterly financials of earnings per share in 12 days or less.

NASBA Announces 2015 Accounting Education Research Grants Recipients

The National Association of State Boards of Accountancy (NASBA) recently announced the recipients of its Accounting Education Research Grants Program.

Personal-Finance Lessons From the Greek Crisis

According to this Wall Street Journal article, the fate of Greece can teach us plenty about personal finance.