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. 200, No. 2, August

Answer Please: Fraud-Based Interviewing; Ask Probing Questions and Assess the Response
EXECUTIVE SUMMARY * ONE WEAPON AUDITORS CAN USE AGAINST FRAUD is simply to speak to clients, managers and employees while observing their behaviors. Normal interview skills may be insufficient to determine whether an individual is withholding information,...
Emergency for Rx Windows XP: What to Do When Your Computer Needs Repair
Microsoft's Windows XP operating system contains an assortment of emergency tools that can come to your rescue if your computer doesn't run right--or won't run at all. Rest assured, you don't have to be technically proficient to use them, but some...
Experienced Professionals
Your individuality makes you who you are. Use your unique perspective to help us help our clients succeed and we'll help you build and advance your career. PricewaterhouseCoopers offers a wide range of assurance, tax and advisory services to many of...
Exploding Generation X Myth: What the Next Batch of Leaders Want in Their Work/personal Lives
There's a lot you should know about the new generation of leaders moving up in America's top companies and professional services firms. Often referred to as Generation X, it's made up of people born between 1964 and 1975. Numerous stereotypes and myths...
Exposure Drafts Outstanding
(This list was compiled as of July 1, 2005. For exposure drafts issued after that date, consult The CPA Letter. Note: The policy for updating the list of exposure drafts is that a document should remain on the list until a final document has been issued...
Looking Back: 100 Years: 1905-2005
The JofA's "Focus On" series, which ran in the mid-1990s, asked CPAs for their opinions on a variety of issues, including casual-dress policies. It was only in the early to mid-1990s that casual Fridays ushered in a more informal era in office dress....
New AICPA Book Helps CPAs Go beyond Planning and into Action: CPAs Can Aid Government, NPOs in Taking Strategic Planning into the Real World
Governmental and not-for-profit organizations constantly face increasing demands for services when already limited resources are inadequate to address existing needs. The altruistic nature of governmental and not-for-profit organizations leads them...
New Horizons: Enterprise-Wide Compliance: A Better Way to Manage Regulatory Demands
EXECUTIVE SUMMARY * COMPLYING WITH SARBANES-OXLEY HAS LED many companies to search for a better way to manage all the regulatory demands they face. Some are doing so on an enterprise-wide basis by coordinating and integrating compliance into all...
Recoverable Costs
A taxpayer who is the prevailing party in a legal dispute with the IRS may be entitled to recover some of his or her litigation-related costs. There have been numerous suits outlining the costs taxpayers can recover if they hire an attorney. When taxpayers...
Statement of Financial Accounting Standards No. 154-Accounting Changes and Error Corrections: (A Replacement of APB Opinion No. 20 and FASB Statement No. 3)
SUMMARY This Statement replaces APB Opinion No. 20, Accounting Changes, and FASB Statement No. 3, Reporting Accounting Changes in Interim Financial Statements, and changes the requirements for the accounting for and reporting of a change in accounting...
Stay out of Trouble: Observe Fundamentals; Know the Standards; Select Clients Carefully; Communicate Often
EXECUTIVE SUMMARY * DEBATE HAS RAGED FOR YEARS in financial and accounting circles over issues of independence, auditing and accounting standards, and corporate governance. In the event of an auditing malfeasance trial, a juror--unaware of this...
Tax Benefits of Royalty Trusts: Another Way of Investing in Commodities
Royalty trusts provide income-oriented taxpayers with opportunities to invest in natural resources, realize cash flows and participate in the tax benefits afforded this specialized industry. To educate interested clients, CPAs should familiarize themselves...
Technology Q&A: Command Word to Repair Itself ... Create an Excel Contents Tab ... Shade Alternating Rows or Columns ... a Better Idea ... the Right Way to Count the Zeros ... Shortcuts
COMMAND WORD TO REPAIR ITSELF Q. My copy of Word is not working well. I'm getting error messages, and on occasion it locks up. Do you have any idea what could be wrong? A. It could be any number of things. I would begin by running a full scan...
The Best of Both Worlds: A Combination of Cost Segregation and Like-Kind Exchanges Can Save on Real Estate Taxes
EXECUTIVE SUMMARY * COMBINING COST SEGREGATION AND SECTION 1031 exchange allows taxpayers to defer the maximum amount of income taxes. * USING COST SEGREGATION, OWNERS CAN RECLASSIFY real property as personal property in order to obtain faster...
The Last Word: In This Monthly Column, the JofA Takes a Closer Look at Some of the Intriguing, Inspiring and Imaginative Folks Who Are the Heart of the AICPA
One of my mottoes in life is "Make a Difference." Volunteering in the community and being active professionally are important to me. I'm on the task force for financial literacy in Florida; we started a program with the Orlando Chamber of Commerce...
Withdraw without Penalty: Do Your Clients Rate an Exemption from the Penalty for Early Withdrawal of Retirement Funds?
EXECUTIVE SUMMARY * WHEN CLIENTS ARE DESPERATE FOR FUNDS because of unforeseen circumstances, CPAs can help them tap retirement funds without triggering the 10% early withdrawal penalty. Eight exemptions to this penalty relate to life cycle events...
XBRL: It's Unstoppable: A Conversation with the Father of the Digital Language of Business
If you thought Lotus 1-2-3 revolutionized spreadsheets, get a good grip on your mouse because XBRL will do even more for financial reporting and analysis. Here's the breakthrough: XBRL (extensible business reporting language), a new global open standard...
Author Advanced search

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.