Journal of Accountancy articles from January 2002

Journal of Accountancy archives from January 2002

Smart stops on the web.(personal financial planning)
January 1, 2002... PERSONAL FINANCIAL PLANNING SITES A Free Plan for the Future www.atlanticfinancial.com Investors can get a free financial plan by filling out a short online questionnaire at this site. For a thorough analysis, they can download a...

Ten "musts" for developing a PFP practice.(personal financial planning by certified public accountants)
January 1, 2002... CPAs interested in careers in personal financial planning or who have established practices and would like to create a niche in this area can follow these steps to get started: [] Select a practice structure. Depending on their firm's...

Don't invest for clients - plan for them: why investing is not financial planning.(certified personal accountants and financial planning)
January 1, 2002... EXECUTIVE SUMMARY * AS CPAs ADD FINANCIAL PLANNING SERVICES TO their professional offerings, it's important not to limit planning to just discussing investments. Effective planners must develop an in-depth strategy by examining all aspects...

A primer on exchange-traded funds: CPAs should know the difference between ETFs and mutual funds.(exchange-traded funds)
January 1, 2002... EXECUTIVE SUMMARY * SINCE THE AMERICAN STOCK EXCHANGE INTRODUCED them in 1993, the market for exchange-traded funds continues to grow despite the current disappointing investment climate. As an alternative to index mutual funds, ETFs offer...

Teaming up for the bottom line: what's in a game? A tool for personal and business growth.(football as a model for a firm's incentive program)(marketing case study)
January 1, 2002... EXECUTIVE SUMMARY * FOR A MODEST INVESTMENT within reach of any small to midsize firm, a 48-member, seven-partner office of J.H. Cohn drew on football as a model for a team incentive program (TIP). * THE FIRM'S GOALS WERE to bring in...

Modeling and discounting future damages: income stream analysis gives a better picture of what a plaintiff really may have lost.
January 1, 2002... EXECUTIVE SUMMARY * IN LITIGATION INVOLVING FUTURE ECONOMIC damages, experts' calculations must discount the amounts to present value. The courts have offered little guidance on appropriate discount rates. * BUSINESS DAMAGES MAY BE FOR...

Cut down on contract stress: automating a critical process can make your business work better.(contract management systems)
January 1, 2002... EXECUTIVE SUMMARY * AUTOMATED CONTRACT MANAGEMENT SYSTEMS are network-based software platforms that make contract terms accessible to every person within an organization who is affected by them. Customers and suppliers can also be brought...

Performance measures for NPOs: how one organization developed a way to collect meaningful information.(nonprofit organizations)
January 1, 2002... EXECUTIVE SUMMARY * SINCE MOST KEY BUSINESS PERFORMANCE MEASURES don't work for not-for-profit organizations, these groups need to develop specialized measures to help them achieve their goal-driven strategic plans. One approach NPOs use...

Put a database to work: perform complex jobs with a few clicks.
January 1, 2002... What makes a database so useful is its unique ability to selectively harvest from its vast fields of stored facts just what you need--no more and no less--and then to assemble that information in such a way that you can perform complex and...

Effect of built-in gain on value of closely held stock.(tax law)
January 1, 2002... The valuation of stock in a closely held corporation is a difficult issue frequently argued before the courts. Since no independent valuations, such as market quotations, are available, a stock's fair value may be difficult to determine....

Income tax consequences of certain gift transactions: some transfers may result in income or gain to the donor.
January 1, 2002... Estate planners most often focus on minimizing estate and gift taxes when dealing with their clients' situations. However, when clients wish to transfer certain types of property as gifts, CPAs should advise them to be wary of possible...

When the external auditor also performs the internal audit: separation of staffs may safeguard independence.
January 1, 2002... Just how objective are auditors that perform both external and internal audits for clients? From the SEC to commercial loan officers, this question is on the minds of many who worry about the impact of such an arrangement on auditor...

... And one for me: skimming is by far the most popular method for stealing an organization's cash.
January 1, 2002... Roger had worked hard to earn his CPA. He had big dreams--he had planned to use his newfound financial expertise after college to build a fortune. But 10 years later, here he was, stuck as the controller for a midsize soft drink bottler and...

Life insurance compliance rules: how to survive in a highly regulated industry.
January 1, 2002... Insurance is among the most highly regulated of the financial services industries. When coupled with the professional standards inherent in the practice of public accounting, compliance issues can quickly become complicated for CPA firms that...

Duped by Derivatives: A Manhattan Murder Mystery.
January 1, 2002... Duped By Derivatives: A Manhattan Murder Mystery By Gall Farrelly 285 pages; paperback; $6.99 Chicago Spectrum Press, Chicago Start with Reilly Investment Co., a New York firm that's in trouble because of derivatives trading gone bad. Add...

The Big R: An Internal Auditing Action Adventure.
January 1, 2002... The Big R: An Internal Auditing Action Adventure By D. Larry Crumbley, Douglas E. Ziegenfuss and John J. O'Shaunessey 266 pages; paperback; $25 Carolina Academic Press, Durham, North Carolina A while back some enterprising professors and...

The Audit.
January 1, 2002... The Audit By Edward J. McMillan 384 pages; paperback; $15.95 Harwood Publishing, Churchton, Maryland Fraud in the world of not-for-profit organizations is not new, and every once in a while, a news story surfaces about illegal activities in...