THOMAS J. GROSKOPF, CPA, CVA, MBA
Director
“It’s easy to get caught up in the numbers—it’s much harder to step back and figure out what those numbers mean for your business. Helping our clients to first gain a ‘big picture’ view, and then plan a strategy to reach their objectives, is something of which to be proud.”
Tom provides leadership and counsel for the firm’s accounting and audit practice. His experience includes approximately 20 years in public accounting both with Barnes Dennig and with a large international firm.
Tom is a member of the Financial Accounting Standards Board (FASB) Private Company Financial Reporting Committee (PCFRC). Prior to his service on the PCFRC, Tom served a three-year term on AICPA’s Technical Issues Committee. Tom was invited to be a participant in the Financial Accounting Foundation's Strategic Advisory Panels. Recently, he was appointed by the IFRS Foundation to the International Financial Reporting Standards SME Implementation Group.
His involvement with the FASB provides unique insight into the process and outcomes for financial accounting standards in the United States. This includes all of the Board’s major international convergence projects- revenue recognition, leases, financial instruments, and insurance contracts. Tom also led the PCFRC’s efforts to reduce cost for private entities testing goodwill for impairment. These efforts, as well as a comment letter authored by Tom on behalf of the PCFRC, were cited by the FASB in the Basis for Conclusions in Accounting Standards Update (ASU) 2011-08, Testing Goodwill for Impairment. ASU 2011-08 permits an entity to make a qualitative assessment when testing goodwill for impairment instead of the costly annual quantitative valuation requirement.
Tom is a nationally recognized presenter on accounting and auditing topics. He has spoken at national events including AICPA National Accounting and Auditing Technical Symposium (NAAATS), PKF Summit, AICPA/IFRS Foundation Conference on IFRS, and AICPA Fair Value Conference.
He has been quoted as an authority on audit and accounting matters in national publications including those published by BNA and Financial Executives Institute as well as the Journal of Accountancy. Locally he has been quoted by the Business Courier and the Cincinnati Enquirer on a variety of accounting related topics.
Tom’s expertise is recognized by the legal community and he is sought by attorneys in need of his knowledge. As such, he has been deposed and has testified in open court as an expert witness in accounting related cases on numerous occasions.
Xavier University has appointed him a member of its Accounting Department’s Board of Executive Advisors. In addition to being a CPA, he also holds the designation of Certified Valuation Analyst (CVA).
Tom is a summa cum laude graduate of Xavier University with a Bachelor of Science in Accounting. He also holds a Master of Business Administration degree with a concentration in Finance with High Honor from Xavier University.
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