Accounting Today articles from April 2008

Accounting Today archives from April 2008

Mobility, education headline AICPA priorities.(American Institute of Certified Public Accountants)
April 14, 2008... New York -- The American Institute of CPAs has ramped up its mobility efforts to allow CPAs to practice in other states, with mobility bills enacted now in 12 states and legislation pending in 22 other states. Seven states Illinois,...

See ya, CDs!: Software as a Service is finally catching on.
April 14, 2008... Most likely youre aware that Software as a Service is fast becoming a viable alternative to traditional, on-premise applications. What you may not know is that users and providers alike are praising the platform because of its flexibility,...

Lawmakers mull reform options for estate tax.
April 14, 2008... Racing to find political common ground on estate tax policy before the Bush administration tax cuts expire, congressional leaders are urging Republicans and Democrats to think outside the box when considering reforms. Among the...

GASB proposal clarifies fund balance reporting.(Governmental Accounting Standards Board)
April 14, 2008... Norwalk, Conn. -- When the Governmental Accounting Standards Board issued Statement 34, requiring government-wide accrual accounting and modified accrual accounting for governmental funds, it improved financial reporting enormously, but...

Senate confirms Shulman at IRS.(Douglas H. Shulman )(Brief article)
April 14, 2008... Washington, D.C. -- The Senate has confirmed Douglas H. Shulman as the new commissioner of the Internal Revenue Service. Shulman, formerly vice chair of the Financial Industry Regulatory Authority, was nominated in November to replace Acting...

Tax haven legislation gaining momentum.
April 14, 2008... Two bills proposed in the Senate last year that take aim at tax havens and the U.S. taxpayers that operate in them have been given greater impetus by the recent European and U.S. probes into accounts in Liechtenstein that were alleged to hide...

In Brief.(H&R Block has sold the mortgage loan-servicing business of its Option One Mortgage Corp.)
April 14, 2008... SAGE APPOINTS NORTH AMERICA CEO Irvine, Calif. The Sage Group has appointed telecommunications industry veteran Sue Swenson as the new president and CEO of the British software companys North American business. Swenson will lead Sage...

Greed works?(New York Stock Exchange )
April 14, 2008... In the classic tale of corporate greed, Wall Street, the ruthless corporate raider Gordon Gekkos young protege, Bud Fox, asks how much money is too much. How many yachts can you water ski behind? asks Fox. Gekko calmly replies, Its all about...

Commentary: Accidents happen: Know your responsibilities when client data goes missing.(Reprint)
April 14, 2008... In virtually every type of business, data is received, processed, stored, transported and otherwise disseminated in digital form via electronic media. In the accounting profession, digital data is ubiquitous. As a result, laptops and...

IRS survey: Online filing continuing to grow.(Survey)
April 14, 2008... An increasing number of taxpayers filed or intended to file their tax returns online this tax season, according to recent data supplied by both the Internal Revenue Service and global researcher The Conference Board. As of early March, IRS...

In Brief.
April 14, 2008... IRS REHIRES PRIVATE COLLECTORS Washington, D.C. The Internal Revenue Service has decided to renew the contracts of two companies involved in its controversial private debt collection program. The two firms Pioneer Credit Recovery and...

Tax Strategy: Like-kind exchanges of vacation properties require caution.(Internal Revenue Service)
April 14, 2008... Despite a recently issued safe harbor now available for like-kind exchanges of vacation properties, the Internal Revenue Service continues to keep taxpayers guessing on the precise boundaries of the law itself. Last September, the...

Commentary: The need for a touchstone: Historical cost and transaction basis.
April 14, 2008... Until 1991, the accounting profession was largely guided by historical cost, transaction-based accounting. Granted, fair market value and historical cost at the point of the transaction were deemed equivalent, provided that arms-length...

Change of Auditors.
April 14, 2008... MOODYS ENGAGES KPMG New York-based credit rating concern Moodys Corp. has appointed Big Four firm KPMG as its auditor, replacing PricewaterhouseCoopers. KPMG will also serve as independent accountant to the companys profit-sharing plan....

The Spirit of Accounting: Clearing the air: Off-balance-sheet financing is dysfunctional.(Viewpoint essay)
April 14, 2008... In mid-February, we received an e-mail about our off-balance-sheet financing column (Off-balance-sheet financing: Holy Grail or holey pail? Accounting Today, Feb. 11-24, 2008, page 13) from Craig Bruya, currently chief financial officer of a...

Before the sale: Get your business in order.
April 14, 2008... Grizzled business veterans can pontificate about how successful enterprises are built from strength, character and luck. These elements, they say, together serve as the underpinning of business and of life beyond it. And it can be tempting to...

In Brief.
April 14, 2008... FIDELITY: RETIREES NEED $225,000 FOR HEALTH CARE Fidelity Investments has released a report estimating that a 65-year-old couple retiring in 2008 would need approximately $225,000 to cover their medical costs in retirement, a 4.7 percent...

Policymakers propose broad revamp of credit markets.
April 14, 2008... Washington, D.C. -- The nations economic policy heads outlined sweeping recommendations to strengthen the nations credit markets, calling for stronger licensing standards for mortgage brokers, more due diligence from credit-rating agencies and...

Software Review: Time & billing software: Making sure the check is in the mail!
April 14, 2008... Accounting firms and consulting practices have different priorities when it comes to what applications are considered mission-critical. For some practices, the management aspect knowing how firm resources are being applied to service clients...

In Brief.
April 14, 2008... TIW UNVEILS ALERE VERSION 5.2 TIW Technology, parent to the Alere accounting products, has released Alere Version 5.2, an upgrade that includes a number of enhancements affecting ordering, inspection, expiration and the general ledger. ...

Boomer's Blueprint: From plan to success.
April 14, 2008... Firms that have recently completed or plan to develop a strategic plan should be concerned about implementation, accountability, discipline and commitment. Expectations should be dealt with now, rather than later, to insure success. Each...

Women's initiatives gather steam.
April 14, 2008... Theres encouraging news for firms interested in pursuing strategies to retain and promote women: You dont have to re-invent the wheel. In fact, the timing couldnt be better, as dozens of top programs are under way at firms across the...

New Products.(DeferEm.com software realeased by TRex Global)(Videx Inc. introduces new CyberAudit-Web Lite software)
April 14, 2008... Software & Hardware COME OVER! Red Rover, the childrens game, often ends in tears and howls of outrage much as the use of spreadsheets does. RedRover Audit, the spreadsheet quality control software, aims to end the tears at least...

People.(briefs)(CBiz Accounting, Tax & Advisory Services)
April 14, 2008... ALABAMA Keith Barfield, a founding shareholder of Barfield Murphy Shank & Smith PC, Birmingham, has been elected to a three-year term on the Partners Advisory Council of the BDO Seidman Alliance, while founding partner John Shank has been...

Firms.(briefs)(Kernutt Stokes Brandt & Co. LLP)(Catalyst Technology Group)(Brief article)
April 14, 2008... ILLINOIS Crowe Chizek and Co. LLC, Oak Brook, has been named one of the Best Places to Work in Indiana by the Indiana Chamber of Commerce; one of the Best Places to Work in Kentucky by the Kentucky Chamber of Commerce and the Kentucky...

Coming Events.(Calendar)
April 14, 2008... APRIL 14-16: Gaming Conference, Institute of Internal Auditors. Las Vegas. Contact: www.theiia.org/iia-training. 17: Chapter Meeting, American Association of Attorney-CPAs, Arizona Chapter. Offices of Stanley Bronstein, Scottsdale,...

Advertiser Index.
April 14, 2008... Advertiser Page ADP Small Business Services 21 The Advisory Board 27 AT&T Wired 17 ATX/TaxWise 4 BQE...