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. 184, No. 5, November

Adding Value
Many organizations today seek multitalented employees who can offer a variety of skills that will benefit the company while keeping staff ranks lean. Susan Kline, the vice-president of finance and administration at the Indiana Credit Union League...
Administration Introduces Its Own IRS Restructuring Bill
Congressman Charles B. Rangel (D-N.Y) introduced, on behalf of the Clinton administration, a bill to improve the oversight and management of the Internal Revenue Service. The bill, the Internal Revenue Service improvement Act of 1997 (HP 2428), is...
A Journal Survey: The Software CPAs Use
About a generation ago, the only tools an accountant used were a hand-cranked calculator, a columnar pad and a sharp pencil. In those days, an electric pencil sharpener was considered a high-tech accessory. Today, you probably won't find any of those...
At-Large Trustee Heads FAF
Manuel H. Johnson has been elected chairman of the board of trustees and president of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board. A relative newcomer...
Charities Tread Lightly with New Statement
A new, stricter Statement of Position, Aaccounting for Costs of Activities of Not-for-Profit Organizations and State and Local Governmental Entities That Include Fund Raising, is already arousing the ire of not-for-profit organizations. Although the...
Court Rules on Liability for Financial Forecasts
A California appellate court ruled that an accounting firm can be sued by third-party investors based on the firm's work in reviewing financial forecasts in conjunction with a private offering of limited partnership interests. Vintech Inc. is a California...
Creating a Future
Stuart Kessler, the new chairman of the board of the American Institute 91 of CPAs. characterizes himself as the quintessential CPA -- his firm, Goldstein Golub Kessler & Co. in New York City, of which he is the senior tax partner, is extremely...
Deducting Severance Payments
In two technical advice memoranda (TAMs), the Internal Revenue Service ruled that an acquiring company can deduct (on a current basis) post-acquisition severance payments made to the acquired company's employees. In TAM 9721002, a buyer, which...
Florida First Amendment Case Settles Little
On the surface, it's a simple court decision: The 11th Circuit Court of Appeals ruled that CPAs, even when working for an unlicensed entity, may advertise their designation. American Express and one of its CPA employees, Stephen M. Miller, had sued...
IASC Issues Two New Exposure Drafts
The International Accounting Standards Committee is two steps -- and two exposure drafts -- closer to completing a core set of accounting standards that, if approved by the International Organization of Securities Commissions, could be used for cross-border...
IASC to Consider U.S. Financial Instruments Standards
According to Sir Bryan Carsberg, secretary-general of the International Accounting Standards Committee, the IASC staff h, Pro. posed that its board adopt -- on an interim basis -- the Financial Accounting Standards Board's rules on finanoial instruments...
Marketing Clinic
Most people treat a sales proposal merely as an administrative document to be completed at the end of the sales cycle. They use it simply to provide a generic description of a new service and communicate fees and availability. On top of that, many...
Maximizing Retirement Plan Benefits
Ever since Congress imposed the $150,000 limit on recognized compensation for tax-favored retirement plans in 1994, companies have found there to be severe restrictions on the amount of benefits available to higher paid employees. What's more the...
More Than Golden Handcuffs
Until recently, an executive's retirement income package comprised qualified plan benefits, Social Security, income from personal investments and benefits from any nonqualified plans. Most packages were designed to provide benefits from the first...
Profiting from Scheduling Alternatives
For Minnesota sole practitioner Leota Goodney, the use of flexible and part-time scheduling for employees is "the way I've been able to survive." Like many other tax practitioners, her workload is concentrated during the first three or four months...
Software Revenue Recognition Updated
Software vendors are facing more stringent accounting with the issuance of a new statement of position that supersedes SOP 91-1, Software Revenue Recognition. "During the exposure period, we received comments that certain criteria of the proposed...
SSARS Hearing Yields No New Answers
There is still widespread disagreement about when financial statements have to be compiled and the so-called plain-paper issue, according to Wanda Lorenz, chairwoman of the American Institute of CPAs accounting and review services committee. ARSC...
The Firm as Host
Most online firms make do with one Web site, but Hungerford, Aldrin, Nichols & Carter (HANC) has over two dozen and counting. One site is HANC'S own, but its servers store (or, as is more commonly known, "host") the Web sites of about 28 clients...
The New Family-Owned Business Exclusion
When discussing estate and gift taxes, most individuals were familiar with one dollar figure: the $600,000 exemption for lifetime gifts. That was the total dollar amount of gifts a taxpayer could make, during his or her lifetime and at his or her...
When Judgment Counts
CPA firms continue to compete for audit clients and therefore need to offer them value-added services. One way they can improve the efficiency and effectiveness of audits is by expanding the use of analytical procedures in all phases of the audit....
Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.