California CPA articles from October 2008

California CPA archives from October 2008

I am confident in the resilience of our capital markets.(news&trends)
October 1, 2008... "I am confident in the resilience of our capital markets, and in the commitment of U.S. regulators and market participants to work together through this difficult period." --Treasury Secretary Henry M. Paulson Jr.

CalCPA leaders wanted.(news&trends)
October 1, 2008... California CPAs are the driving force behind one of the world's largest economies. Isn't it time you put your leadership skills to use for the betterment of the CPA profession? [ILLUSTRATION OMITTED] The CalCPA Nominations Committee is...

$19,000 The approximate amount of debt the average graduate leaves college.(the numbers)
October 1, 2008... $19,000 The approximate amount of debt the average graduate leaves college with.--Professional Education Services

77% Number of workers.(the numbers)
October 1, 2008... 77% Number of workers who say having paid sick days is "very important." --National Opinion Research Center

85% Number of nearly 900 international companies.(the numbers)
October 1, 2008... 85% Number of nearly 900 international companies surveyed that reported at least one serious incident of fraud during the past three years. --Kroll Global Fraud Report

$639 billion assets held by Lehman Brothers Holdings, Inc.(the numbers)
October 1, 2008... $639 billion Assets held by Lehman Brothers Holdings, Inc. when it filed for bankruptcy Sept. 15, making it the largest corporate bankruptcy case in the U.S. --SmartPros

One-in-five number.(the numbers)
October 1, 2008... One-in-Five Number of employers that use social networking sites to research job to research job candidates. --Career Builder

Plan for the future, today.(CalCPA News)
October 1, 2008... Missing a formal succession plan? When you retire, what will happen to the firm you have built? Keynote speaker William L. Reeb, CPA and other experts will help you navigate this critical transition at the 2008 Succession Planning Conference...

Reduce e-mail clutter.(CalCPA News)
October 1, 2008... Please take three minutes to update your personal profile on our website, www.calcpa.org/myaccount, and indicate your preferred fields of interest. This will allow us to target your meeting announcements so that you receive only those of most...

Disclosures about Credit Derivatives and Certain Guarantees.(CalCPA News)
October 1, 2008... FASB has issued Staff Position (FSP) No. 133-1 and FIN 45-4, Disclosures about Credit Derivatives and Certain Guarantees: An Amendment of FASB Statement No.133 and FASB Interpretation No. 45. The FSP is intended to improve disclosures about...

(5% FTB: new adjusted interest rate.(CalCPA News)
October 1, 2008... The adjusted interest rate will drop to 5 percent from 7 percent, effective Jan. 1-June 30, 2009. The interest rate (California Rev. and Tax. Code Sec. 19521, formerly 19269) is compounded daily and accrues for personal income, corporate income...

SOX delays.(CalCPA News)
October 1, 2008... SOX delays: 34% of non-accelerated filer companies gave little or no consideration to Sec. 404 delays and completed assessments at the last minute or not all at.

Fraud up 22%.(CalCPA News)
October 1, 2008... The average company's loss because of fraud has increased by 22 percent, largely driven by the credit crunch and tough economic climate, according to the Kroll Global Fraud Report. Companies lost an average of $8.2 million to fraud in the...

New tax credit for homebuyers.(CalCPA News)
October 1, 2008... First-time homebuyers should begin planning to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. Available for a limited time only, the credit: * Applies to home purchases after...

Big givers.(CalCPA News)
October 1, 2008... Big Givers: Women surpassed men as the more prolific givers. In an analysis of IRS gift tax data for 2005, the most recent year information is available, women donated $21.7 billion in gifts, while men donated $16.8 billion.--Grant Thornton

Announcements.(membermilestones)
October 1, 2008... McGladrey & Pullen LLP has named Debora Sigler and Cari Koval directors and Joseph D. Rumley has joined the firm as an audit and assurance partner... Michael G. Ueltzen, CPA, John D. Moyle, CPA, Craig M. Enos, CPA, Theodore K. Mitchel, CPA and...

A little help from your friends.
October 1, 2008... In April, the AICPA issued the new Standards for Performing and Reporting on Peer Reviews, which will be implemented for peer reviews commencing on or after Jan.1, 2009. The AICPA Peer Review Board rewrote the standards with a focus on...

Defining benefits 412(e)(3) plans are attractive options for small businesses.(retirement plans)
October 1, 2008... (a) major goal of the 2001 Economic Growth and Tax Relief Reconciliation Act (EGTRRA) was to encourage the establishment of small-business retirement plans. Since then, as an incentive to small-business owners, the tax-deductible dollar limit...

Thank you: CalCPA Institute donors: giving back and helping the profession.
October 1, 2008... CalCPA Institute would like to thank the following individuals and businesses for their tax-deductible contributions and supporting its key initiatives, including financial literacy, scholarships for accounting students, CPA careers oureach,...

More tax legislation: 2008 Housing Assistance Tax Act: pluses and minuses.(Fed Tax)
October 1, 2008... The following are selected highlights of the 2008 Housing Assistance Tax Act (P.L. 110-289), signed into law July 30, 2008. First-time Homebuyer Credit Under this new law, an individual taxpayer who is a first-time homebuyer of a...

Get involved: make sure legislators hear the voice of CPAs.(CapitolBeat)
October 1, 2008... Now that political season is in full swing, we're hearing our presidential candidates promise not to be beholden to special interests while they reform the office of president and return it to doing the people's business. The implied message is...