Journal of Accountancy articles from July 2004

Journal of Accountancy archives from July 2004

Two firms launch new ethics programs: BKD, Moss Adams aim to ensure high ethical tone throughout firms.
July 1, 2004... Moss Adams LLP in Seattle and BKD LLP in Springfield, Missouri, are striking out for a new frontier in CPA firm management--formal ethics oversight. Their approaches differ--Moss Adams hired a single individual to act as an independent ethics...

View from the top: interview with John J. Castellani: Business Roundtable president highlights challenges facing nation's CEOs.(Interview)
July 1, 2004... Business Roundtable (www.businessroundtable.org) is an association of chief executives of leading corporations with a combined workforce of more than 10 million U.S. employees and $3.7 trillion in annual revenues. Its CEO members are committed...

Create an effective direct-mail campaign.
July 1, 2004... CPA financial advisers who market their services have had to find new ways to target clients ever since the national telemarketer "do not call" list took effect in 2003. Direct mail offers them one such option. Here are some tips on how to...

Give your skills a CAT scan: compare where you are with where you want to be by using the AICPA Competency Self-Assessment Tool.
July 1, 2004... EXECUTIVE SUMMARY * PRACTITIONERS CAN USE the AICPA Competency Self-Assessment Tool (CAT) to evaluate which professional performance areas they need to strengthen to refine skills for their present jobs or train for positions they aspire...

Road to the future: use internships to contribute to the younger generation and get a good look at potential hires.
July 1, 2004... EXECUTIVE SUMMARY * INTERNSHIPS FOSTER SUCCESSFUL PROFESSIONAL development for students and firms. To get started, a firm's project manager should check the local university or college's Web site for its requirements and the name of the...

Off the beaten path: CPAs' skills and contacts are a flexible foundation for many enterprises.
July 1, 2004... EXECUTIVE SUMMARY * CPAs CAN USE THEIR UNDERSTANDING of business structures, familiarity with financial reports and disciplined, analytic thinking to succeed at other endeavors. Those who have launched alternative or auxiliary careers...

What's next in corporate pay practices? An enhanced role for compensation committees and a hard look at stock options are in the offing.
July 1, 2004... EXECUTIVE SUMMARY * RECENT SCANDALS HAVE CREATED A PUBLIC perception that corporate executives are putting their own interests ahead of shareholders' concerns. While the Sarbanes-Oxley Act of 2002 does not directly mandate changes in...

The lowdown on lean accounting: a new way of looking at the numbers.
July 1, 2004... EXECUTIVE SUMMARY * LEAN MANUFACTURING PRINCIPLES FOCUS on eliminating waste and producing only to meet customer demand. They also typically require a company to move from a functional division of work to work cells where all of the...

Make your own push-button database: your information is just a click away.(Access push-button feature Switchboard)
July 1, 2004... Access, the Microsoft database, although very powerful and flexible, is hardly the friendliest tool in the Office suite. Even experienced users have been known to fume over its complexity. So what do you do if your organization's customer lists...

Offers in compromise.(tax compromise)
July 1, 2004... Taxpayers unable to pay their income tax liability may make an offer in compromise under IRC section 7122 to settle the tax bill. Such an offer can, however, have a negative impact on other rights available to taxpayers, as the Tax Court...

Private annuities can aid Medicaid eligibility: planning today for later years.(from The Tax Adviser)
July 1, 2004... Clients sometimes ask CPAs how they can qualify for Medicaid. With monthly nursing home costs between $5,000 and $7,500, for many older adults Medicaid is the only way to pay for long-term care. Each state sets income and asset limits to...