California CPA articles from September 2002

California CPA archives from September 2002

Get in on the action--become a CalCPA officer. (CalCPA News).(California Society of Certified Public Accountants)(Brief Article)
September 1, 2002... Even those with the greatest leadership potential sometimes need a nudge to the fore, especially when it comes to assuming a formal role. Help shape CalCPA's next group of leaders by nominating a member for the job. Or contact members who...

Strategic plan to drive CalCPA straight to success. (CalCPA News).(California Society of Certified Public Accountants)(Brief Article)
September 1, 2002... CALCPA's Council and Board of Directors have developed a strategic plan that will serve as a road map for CalCPA during this period of significant professional change. The plan begins by redefining CalCPA's vision, mission and core values....

Answerline improves your ROI. (CalCPA News).(return on investment)(Brief Article)
September 1, 2002... Just as you advise clients to put their investments to work for them, you should do the same. Your CalCPA membership represents a valuable investment for your practice. If managed properly, it certainly will improve your return on investment....

CFOs feel the heat. (News & Trends).
September 1, 2002... CFOs Feel the heat CFOs were asked: How often have you felt pressure from your company's CEO to misrepresent its financial results during the past five years? Never 83% Once 4% Twice ...

E-file? Some CalCPA members prefer not. (CalCPA News).(Brief Article)
September 1, 2002... More than 300 of you responded to CalCPA's latest BUZZ poll and told us that you just aren't fond of e-filing. Over half of all respondents never e-file any tax returns--federal or state. About a quarter of you, however, e-file about a...

Foundation Awards give special recognition for 2001 CPE season. (Education Foundation).(Brief Article)
September 1, 2002... Congratulations to the following winners of the Education Foundation Instructor/Speaker Awards for the 2001 CPE season. Awards for Instructor Excellence went to Bonnie Nagayama and Al Partington. John Brainerd won the Award for Meritorious...

The profession's future is up to you. (Student Outreach).(Brief Article)
September 1, 2002... The accounting profession has made headlines for almost a year. Now, more than ever, students are interested in what you do. So, carpe diem! As the school year begins, schedule a visit to your local high school and show students the...

IRS issues final OIC regulations. (IRS News).(United States. Internal Revenue Service, Offers in Compromise)(Brief Article)
September 1, 2002... The IRS has issued final regulations on submitting and processing Offers in Compromise, effective July 18. Download the new regulations at www.irs.gov/pub/irs-utl/oic.pdf.

New guidance for health reimbursement arrangements. (IRS News).(Brief Article)
September 1, 2002... IRS Notice 2002-45 and Rev.Rul. 2002-41 offer new guidance for employer-provided health reimbursements arrangements. Reimbursements are deductible by employers but are not taxable to employees. An HRA is an arrangement that: * Is paid...

Ask a CPA--promote yourself and the profession. (Online Web Focus).(Brief Article)
September 1, 2002... Interested in doing a little PR for your practice and your profession? Participate in Ask a CPA. By answering consumers' questions about tax, personal financial planning and small business, you can get positive publicity and that warm fuzzy...

EIN issuing process changes, again. (IRS News).(employer identification number)(Brief Article)
September 1, 2002... Now there are two ways to get an EIN: phone (866) 816-2065, Mon-Fri., 7:30 am. - 5:30 p.m., EST; or fax a copy of the SS-4 Application for EIN to (215) 561-3990. The December 2001 version of the form contains a space for a third-party...

IRS suspends Schedule K-1 matching program. (IRS News).(United States. Internal Revenue Service)(Brief Article)
September 1, 2002... The IRS stopped issuing taxpayer notices Aug. 1, regarding discrepancies between the information on tax year 2000 Schedules K-1 and individual tax returns. Thanks to the help of California CPAs, CalCPA and the AICPA were able to coordinate...

Common Interest Realty Associations conference. (CPE Opportunities).(Brief Article)
September 1, 2002... Sept. 18 in San Francisco and Oct. 1 in Universal City. This conference won't be offered again until 2004! If you have homeowner associations as clients, you need to be up to date on important taxation and legal requirements that affect...

The high-tech industries conference for financial professionals. (CPE Opportunities).(Brief Article)
September 1, 2002... Sept. 19 in Sunnyvale. As technology and business practices continue to evolve at a much faster rate than accounting and tax guidance, advisers to high-tech companies continue to face a variety of challenges. Investors and auditors alike...

Retirement planning conference: new developments. (CPE Opportunities).(Brief Article)
September 1, 2002... Sept. 20 in San Francisco and Sept. 30 in Universal City. Your clients expect you to be able to answer all their questions about retirement planning. They want to know their options, how much they can contribute and deduct, the tax...

E-filing & loving it. (Speak Out!).(Brief Article)
September 1, 2002... ... I have been e-filing (federal and state) for two years. I do every return I can (unless there's some form that the IRS precludes me from e-filing). I have not even made it an option for my clients--this is the way it's done and I love it....

California business portal. (Web Resource).(Brief Article)
September 1, 2002... Find all the information you need to start and file a business entity in California at this gem of a Web resource: the California secretary of state's business portal, www.ss.ca.gov/business/business.htm. Here you can access information...

FTB website gets smarter with new IQ service. (FTB News).(California Franchise Tax Board)(Brief Article)
September 1, 2002... A new FTB service, IQ, which stands for Internet Query, allows you to view your clients' estimated state tax payments, current-year payment activity and their balance. Practitioners must provide the client's Social Security number and...

Accelerated deadline for insider transaction reports. (SEC Update).(Brief Article)
September 1, 2002... The SEC has issued supplemental information about the provision of the Sarbanes-Oxley Act that accelerates the due date for officers', directors' and principal security holders' reports of transactions. This amendment, which was effective...

Changes loom: new reporting requirements and discipline standards. (Government Relations).(Brief Article)
September 1, 2002... Effective consumer protection has always been top on the California Board of Accountancy's agenda. AB 270 gives the CBA new tools it needs to ensure that the consumer will continue to come first. An Unlicensed Majority The bill, which...

Green accounting: a new route to corporate transparency?
September 1, 2002... THE PLATFORM ON Julia "Butterfly" Hill's beloved tree, Luna--the one she lived on for two years to protest destruction of nearby old-growth forests in Northern California--may be getting a little crowded these days. CFOs, CEOs, auditors and...

Surfing a tsunami of change: CalCPA chair Nancy Wheeler-Chandler stays cool under pressure. (President Profile).
September 1, 2002... FOR SOMEONE SURFING a tsunami of change, Nancy Wheeler-Chandler displays remarkable Zen-like calm. National accounting reform has rained down upon the profession, the media is featuring corporate scandals du jour, the stock market is in...

In the name of the dollar: a closer look at the Sarbanes-Oxley Act of 2002.
September 1, 2002... To protect the investing public, Congress passed and President Bush signed the Sarbanes-Oxley Act of 2002 in July. Following is a summary of the major provisions of the Sarbanes-Oxley Act, adapted from materials provided by the AICPA....

Heads, it's revenue: why companies struggle to comply with revenue recognition guidance.
September 1, 2002... COST OVERRUNS ARE A FACT OF LIFE in large, multiphase construction projects, and it's not unusual for clients of big construction companies to dispute the bills. But bill disputes are problematic from an accounting perspective-they take time...

Spousal joint tenancies: different rules apply to post-1976 and pre-1977 tenancies. (Federal Tax).(Brief Article)
September 1, 2002... Under pre-1977 law, the entire value of joint tenancy property was included in a decedent's gross estate except for the portion of the property attributable to the consideration furnished by the survivor. For joint interests created...

Rules vs. principles.(accounting standards )
September 1, 2002... They may be called generally accepted accounting principles, but you'd be hard-pressed to find a CPA who doesn't consider the U.S. system rules-based. Those rules, which are based on principles, have come under attack since the Enron collapse,...

Getting down to basics. (Life Insurance).
September 1, 2002... Life insurance is not about earning commissions off an investment product. As a financial adviser, chances are your clients will investigate or purchase life insurance--and they will consult you. According to some estimates, average Americans...

CalCPA treasurer's report. (2002 Annual Report).(California Society of Certified Public Accountants)(Brief Article)
September 1, 2002... CalCPA continued to experience positive financial operating results in FY 2001-02 and completed planned initiatives on budget despite the effects of Sept. 11, the Enron bankruptcy and the demise of the dot-coms. Our accomplishments included...

Foundation treasurer's report. (2002 Annual Report).(California CPA Education Foundation)(Brief Article)
September 1, 2002... I am pleased to present the FY 2001-02 financial reports for the California CPA Education Foundation. The Foundation continues to be an effective continuing professional education resource for our members and other accounting professionals at a...

Independent auditor's report. (Gilbert Associates, Inc. CPAs and Advisors).(California Society of Certified Public Accountants, California Certified Public Accountants Education Foundation)(Brief Article)
September 1, 2002... Board of Directors The California Society of Certified Public Accountants Board of Trustees California Certified Public Accountants Education Foundation Redwood City; California We have audited the accompanying...

Consolidating statements of financial position. (2002 Annual Report).(California Society of Certified Public Accountants, California Certified Public Accountants Education Foundation)(Brief Article)(Statistical Data Included)
September 1, 2002... CONSOLIDATING STATEMENTS OF FINANCIAL POSITION The California Society of Certified Public Accountants California Certified Public Accountants Education Foundation April 30, 2002 and 2001 ...

Consolidating statements of activities. (2002 Annual Report).(Brief Article)(Statistical Data Included)
September 1, 2002... CONSOLIDATING STATEMENTS OF ACTIVITIES The California Society of Certified Public Accountants California Certified Public Accountants Education Foundation Years Ended April 30, 2002 and 2001 ...

Statements of functional expenses. (2002 Annual Report).(Brief Article)(Statistical Data Included)
September 1, 2002... STATEMENTS OF FUNCTIONAL EXPENSES The California Society of Certified Public Accountants Years Ended April 30, 2002 and 2001 Member Events ...

Statements of functional expenses. (2002 Annual Report).(Brief Article)(Statistical Data Included)
September 1, 2002... STATEMENTS OF FUNCTIONAL EXPENSES California Certified Public Accountants Education Foundation Years Ended April 30, 2002 and 2001 Professional Management ...

Consolidating statements of cash flows. (2002 Annual Report).(Brief Article)(Statistical Data Included)
September 1, 2002... CONSOLIDATING STATEMENTS OF CASH FLOWS The California Society of Certified Public Accountants California Certified Public Accountants Education Foundation Years Ended April 30, 2002 and 2001 ...

Notes to financial statements. (2002 Annual Report).(California Society of Certified Public Accountants)
September 1, 2002... 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...

Intentionally defective? Estate planning with intentionally defective irrevocable trusts.(Brief Article)
September 1, 2002... An intentionally defective irrevocable trust (IDIT) is not a term you normally use when discussing estate planning with your clients; however, it can be a significant estate planning tool. The trust is not literally defective. It's an...

File that power of attorney: and other ways to keep California Tax practitioners busy. (California Tax).(Brief Article)
September 1, 2002... According to several listserve participants, since July 1, the FTB has required a power of attorney to be on file before talking with a taxpayer representative. According to the FTB, www.ftb.ca.gov/other/poa/index.html, taypayers must...

Announcements. (Member Milestones).(Brief Article)
September 1, 2002... In the Inland Empire, Chad Porter has become a shareholder in the firm of Smith Marion & Co... Thane Kelton and Laura Feichtner joined the La Jolla office of Duffy, Kruspodin & Co., Kelton as a manager and Feichtner as a supervisor... Susan...

Firm news. (Member Milestones).
September 1, 2002... The West Covina firm Parke, Guptill & Co. is celebrating its 38th anniversary... Armanino McKenna has opened its new headquarters in San Ramon at Bishop Ranch. The firm will maintain offices in San Leandro and Walnut Creek... Campbell-based...

Achievements. (Member Milestones).(Brief Article)
September 1, 2002... The American Woman's Society of Certified Public Accountants has elected Marina del Rey-based CPA Louise Teeter to national vice president-publications for 2002-03 Cristen Stier, audit manager in the Southern California office of Hem +...

Members in the news. (Member Milestones).
September 1, 2002... Los Angeles-based CPA Mike Eisenberg was quoted on Bankrate.com June 12, and in July he had an article printed in American Coin-op... In July, CalCPA's immediate past chair David George, had an Op-Ed piece printed in the San Francisco...