Journal of Accountancy

A monthly publication of the American Institute of Certified Public Accountants focusing on the latest news and developments related to the field of accounting, and written for CPAs and other accounting professionals.

Articles from Vol. 170, No. 4, October

Accounting Professors: A Valuable Resource
Establishing working relationships with academic faculty members at nearby universities and colleges can be a profitable step for a local practitioner because it provides access to specialized knowledge, training, skills and experience at a relatively...
Can I Get CPE for That? for Members Not in Public Practice, the Options for CPE Are as Diverse as the Members Themselves
How can you get continuing professional education credits if your employer won't allow time off for class attendance? Can you receive CPE for teaching a course? How do the new American Institute of CPAs CPE rules compare with government "yellow book"...
Current Value Reporting for Real Estate: An Industry Perspective
Current value reporting provides users with information about financial resources that may be available to an entity either through their use or sale. In addition, it reflects changes in those amounts from one reporting period to another. Current...
"Double-Dip" Tax Benefit Leases
ISSUE NO. 89-20 Here's an interesting situation. Imagine: Two entities on opposite sides of the Atlantic Ocean can each claim ownership of the same asset and reap the tax benefits from owning that asset in their respective countries. Sound...
Finally, Guidance on Like-Kind Exchanges
Recent tax law changes that seek to raise funds through "revenue enhancement" or "loophole closing" have left tax practitioners with fewer and fewer opportunities to defer the recognition of income. But the use of like-kind exchanges under Internal...
Fred Goldberg: Shaping a More Responsive IRS
When Fred T. Goldberg, Jr., speaks of his position as commissioner of the Internal Revenue Service, he often remarks, "I love this job." That's understandable, because he apparently developed an affinity for the service early in his career. When...
FTC Order concerning Restraints on CPAs
ANNOUNCEMENT As you may be aware, the American Institute of Certified Public Accountants ("AICPA") has entered into a consent agreement with the Federal Trade Commission that became final on August 9, 1990. The order issued pursuant to the consent...
Investing Excess Cash: Reducing Speculation
The thin line between investing and speculation is often blurred. Unfortunately, many who are directly responsible for their organization's investments have difficulty in separating speculation from investment. As a result, they may undertake a higher...
Managing a Profitable Tax Practice; Insights into What It Takes to Build a Prosperous Practice
CPAs provide valuable financial advice to business owners but sometimes don't place sufficient importance on their own firms as their most important customers. Many CPAs are so busy helping clients achieve their financial objectives they can lose...
Mark-to-Market: Freddie Mac's Fourth Financial Statement
For a number of years the management of Freddie Mac (the Federal Home Loan Mortgage Corporation) has used mark-to-market (MTM) information to assess corporate performance in its operations and decision making. When our stock began trading without...
Personal Information Managers: Useful Tools for Accountants
Accountants must work efficiently with words as well as numbers. An accounting firm's or a company's numerical data usually fit easily into the structure of spreadsheets, databases and other traditional software products. But other information, such...
Sweet Charity
Even when they are being charitable, people like the idea of getting something in return. Many organizations recognize this and use inducements to gain contributors. As part of their fund-raising activities, these charities will offer something of...
Using a Durable Power of Attorney
A durable power of attorney is an important part of the planning process. When a client faces surgery, illness or an extended absence, the need to write checks, sign tax returns, engage in financial transactions, maintain insurance, operate a business,...

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