California CPA articles from September 2001

California CPA archives from September 2001

FORMER AICPA LAWYER TAKES THE HELM AT SEC.(Harvey Pitt)(Brief Article)
September 1, 2001... Harvey Pitt, corporate lawyer and former general counsel to the SEC under President Jimmy Carter, has been confirmed as SEC chairman. He replaces Laura S. Unger, who has served as acting SEC chairwoman since Arthur Levitt's resignation in...

SEC's "FORCE OF NATURE" LYNN TURNER RESIGNS.(Brief Article)
September 1, 2001... After a three-year stint as chief accountant with the SEC, Lynn Turner stepped down in August to join the faculty at Colorado State University as director of the Center for Quality Financial Reporting. Acting SEC Chairwoman, Laura Unger...

GROUP TO RESOLVE AUDITOR INDEPENDENCE DISBANDS.(Independence Standards Board is disbanded)(Brief Article)
September 1, 2001... The Independence Standards Board, a 1997 creation of the AICPA and SEC to resolve auditor independence issues, discontinued its operations at the end of July. With the adoption of the SEC's new rules on auditor independence and the...

NEW SALES & USE TAX EXEMPTIONS.(California's petroleum price policy)(Brief Article)
September 1, 2001... Gas finally gets a break. California's recently approved 2001-02 budget included a "budget trailer" bill that enacted a number of new sales and use tax exemptions. Beginning Sept 1, sales and purchases of liquefied petroleum gas for...

HANDY URL FOR EMPLOYER WAGE RULES.(www.dir.ca.gov)(Brief Article)
September 1, 2001... Employers: need to know the latest news regarding wage rules? The Department of Industrial Relations, www.dir.ca.gov, has up-to-date, online information on labor laws, workers' compensation, overtime, minimum wage, and occupational safety...

ITALY CLAIMS A PIECE OF THE XYZ PIE.(Italian accounting firms join American Institute of Certified Public Accountants)(Brief Article)
September 1, 2001... Italy has jumped on the global credential bandwagon as the first European country to join the AICPA's Global Credential Steering Committee. Italy's two leading accountancy bodies, the Consiglio Nazionale dei Dottori Commercialisti and the...

LEADERSHIP SERIES TAKES YOU TO NEW HEIGHTS.
September 1, 2001... Whether you are new to leadership or consider yourself seasoned, the three-day Leadership Series for CPAs in public practice is for you. This program features customized workshops that focus on how to maximize your leadership skills. ...

HUMAN RESOURCES HELP IS JUST A CLICK AWAY.(Brief Article)
September 1, 2001... The Group Insurance Trust has two new member benefits that can make your human resources functions a breeze to manage: eBenefits eBenefits Virtual HR costs as little as $3 per employee, per month, and can help you with benefit and...

SHOW ME WHERE THE MONEY GOES.(California)(Brief Article)
September 1, 2001... The FTB has developed an interactive guide designed to give you a sense of how California spends your income taxes. The "receipts" generated at this site provide an itemized listing showing how you contributed--in actual dollars and...

FORM 568--SECRETARY OF STATE (SOS) FILE NUMBER.(Brief Article)
September 1, 2001... According to the FTB, many Limited Liability Company Return of Income forms (Form 568) filed for tax year 1999 showed incorrect SOS numbers. These are 12-digit numbers that begin with the year the LLC organized or registered with the...

Government Relations Interactive Advocacy Site.(California societyof Certified Public Accountants)(Brief Article)
September 1, 2001... The CPA profession faces constant legislative threats from public and private interests. CalCPA is on the front line, making sure your interests are aggressively represented before state lawmakers. Member volunteers and our full-time government...

TOP 10 ways to hire & retain quality staff.(Brief Article)
September 1, 2001... Finding, hiring and retaining quality staff remain the top concerns for firms today Based on extensive research the AICPA's Partnering for CPA Practice Success Executive Committee recommends employers take the following steps to assists in...

REGISTER NOW TO FILE 2001 W-2s ELECTRONICALLY.(Brief Article)
September 1, 2001... Filing over the Internet is available for employers or CPAs who use Social Security's Magnetic Media Reporting and Electronic Filing requirements format. If you use this format and register for a personal identification number and...

NEW FILING LOCATIONS--FORMS 706 AND 709.(Brief Article)
September 1, 2001... The IRS has announced (Ann. 2001-74) filing location changes in some states for the following tax returns: Form 706, Form 706-CE, Form 706-GS(D), Form 706-GS(D-1), Form 706-GS(T), Form 709 and Form 709-A. You can access the proper filing...

ACROBAT READER FOR PALM OS NOW AVAILABLE.(Brief Article)
September 1, 2001... Now your Palm-powered PDA has increased functionality. New Acrobat Reader for Palm OS gives users the flexibility and freedom to view PDF files on Palm-powered, handheld devices. "It's simple to use and seems to work well," says David...

SPEAK OUT!
September 1, 2001... NEWS THAT'S RELEVANT Just a few words to say how much I enjoyed Stuart R. Josephs, CPA article summarizing the individual side of The 2001 Tax Act in our July California CPA issue. I found it easy to comprehend because it was written...

SITE LISTS NEW CPA REQUIREMENTS.(Certified Public Accountants)(Brief Article)
September 1, 2001... The California Board of Accountancy has posted information on the new exam and licensure requirements for California CPAs at www.dca.ca.gov/cba. Members also may access the information by going to CalCPA's interactive government relations Web...

Californians Bring Home the Bacon.(Brief Article)(Statistical Data Included)
September 1, 2001... Californians Bring Home the Bacon Solvency may be a matter of temperament and not of income, but here's a look anyway at what Californians brought home in 2000. These income statistics (inflation adjusted), are according to the latest...

NEW ACCOUNTING FOR PROPERTY AND EQUIPMENT.(Brief Article)
September 1, 2001... NEW ACCOUNTING FOR PROPERTY AND EQUIPMENT Now is the time CPAs to speak on two proposed statements that affect the accounting for real estate projects. FASB has issued an exposure draft which proposes to amend it's Statement No. 67,...

MEMBER MILESTONES.
September 1, 2001... ANNOUNCEMENTS San Jose-based Petrinovich Pugh & Co has promoted John R. Kawamoto to partner... In Los Angeles, Wendy C. Klein has been named principal of RBZ... Los Angeles-based Gursey, Schneider & Co has promoted Robert Watts to...

CalCPA Chair David George: Look.(California Society of Certified Public Accountants)
September 1, 2001... DAVID GEORGE has done it all--litigation support, tax preparer, controller, peer review team captain, financial adviser. He even took a turn as a stockbroker. But it's the role George just stepped into for which he seems to have been born:...

eyes wide open.(fees or commissions)(Statistical Data Included)
September 1, 2001... CPAs Choose Carefully Between Fees & Commissions the question used to be, and to some CPAs it still is: should CPAs be allowed to accept commissions? Since 1999, California CPAs have been allowed to charge commissions following passage of...

Talking California Tax.(Brief Article)
September 1, 2001... There's No Such Thing as a Stupid Tax Question Non-California Tax-free Interest As you know, tax-free interest from non-California sources is taxable on California income tax returns even though it is tax-free for federal income tax...

Endangered Species.(Independent contractors)(Brief Article)
September 1, 2001... California Takes Aggressive Stance on Independent Contractors Independent contractors may be California's next endangered species if the Legislature passes SB 1128 (Kuehl) in 2002. The bill would require employers to consider the principles...

All in the Family.(financial planning)
September 1, 2001... Can your clients be too focused on the bottom line? THEY CAN IF ATTENTION TO BUSINESS operations causes them to neglect planning for the orderly transfer of family wealth. Succession planning often plays second fiddle in family-owned...

Tax Relief.
September 1, 2001... IRA and Pension Highlights From the 2001 Tax Act Following are summaries of the 2001 Economic Growth and Tax Relief Reconciliation Act's IRA and pension provisions. Because of budgetary restrictions, these new rules will no longer be in...

CALCPA TREASURER'S REPORT.(California Society of Certified Public Accountants)(Brief Article)
September 1, 2001... After two years of streamlining operations, CalCPA is back on track The year ended April 30,2001 reflects an increase in net assets of $1,247,000, bringing ending net assets up to $3,754,000. Revenues exceeded budget by about $400,000 while...

FOUNDATION TREASURER'S REPORT.(Certified Public Accountants. Education Foundation)(Brief Article)
September 1, 2001... I am pleased to present the year-end financial results for the CPA Education Foundation. The Foundation continues to be a most effective resource of continuing professional education programs for our members and other financial professionals in...

GILBERT ACCOUNTANCY CORPORATION.(California Society of Certified Public Accountants, California Certified Public Accountants Education Foundation)(Brief Article)
September 1, 2001... CERTIFIED PUBLIC ACCOUNTANTS INDEPENDENT AUDITOR'S REPORT Board of Directors The California Society of Certified Public Accountants Board of Trustees California Certified Public Accountants Education Foundation ...

CONSOLIDATING STATEMENTS OF FINANCIAL POSITION.(California Society of Certified Public Accountants)(Brief Article)(Statistical Data Included)
September 1, 2001... CONSOLIDATING STATEMENTS OF FINANCIAL POSITION The California Society of Certified Public Accountants California Certified Public Accountants Education Foundation Apri1 30, 2001 and 2000 CalCPA ...

CONSOLIDATING STATEMENT OF ACTIVITIES.(California Soceity of Certified Public Accountants)(Brief Article)(Statistical Data Included)
September 1, 2001... CONSOLIDATING STATEMENT OF ACTIVITIES The California Soceity of Certified Public Accountants California Certified Public Accountants Education Foundation Years Ended April 30, 2001 and 2000 ...

STATEMENTS OF FUNCTIONAL EXPENSES.(California Society of Certified Public Accountants )(Brief Article)(Statistical Data Included)
September 1, 2001... STATEMENTS OF FUNCTIONAL EXPENSES The California Society of Certified Public Accountants Years Ended April 30, 2001 and 2000 Member Events Other...

STATEMENT OF FUNCTIONAL EXPENSES.(California Certified Public Accountants Education Foundation)(Brief Article)(Statistical Data Included)
September 1, 2001... STATEMENT OF FUNCTIONAL EXPENSES California Certified Public Accountants Education Foundation Years Ended April 30, 2001 and 2000 2001 Professional Education ...

CONSOLIDATING STATEMENTS OF CASH FLOWS.(California Society of Certified Public Accountants, California Certified Public Accountants Education Foundation)(Brief Article)
September 1, 2001... CONSOLIDATING STATEMENTS OF CASH FLOWS The California Society of Certified Public Accountants California Certified Public Accountants Education Foundation Years Ended April 30, 2001 and 2000 CalCPA...

NOTES TO FINANCIAL STATEMENTS.(California Society of Certified Public Accountants )(Statistical Data Included)
September 1, 2001... 1. Organization and Significant Accounting Policies The California Society of Certified Public Accountants (CalCPA) is a nonprofit incorporated membership organization whose purpose is to advance the profession of accountancy in the State...

Plug Into the Media Circuit.(California Society of Certified Public Accountants)(Brief Article)
September 1, 2001... California's electrical flow may shut down now and then, but a new business pipeline is flowing for CPAs who take advantage of CalCPA's public relations programs. Members have found that media training, an ear to the ground and sustained effort...

Will All the Pieces Fit?(accounting and auditing rules)(Brief Article)
September 1, 2001... Following the flurry of independence rule activity? In February, the SEC issued its new rules on auditor independence. Next came the AICPA's omnibus proposal of changes to the Professional Ethics Division's interpretations and rulings, which...