Outlook articles from March 1998

Outlook archives from March 1998

A CPA exam for the 21st century. (test for certified public accountants)
March 22, 1998... In September 1995, the American Institute of CPAs' Board of Examiners issued to state boards of accountancy and other interested parties an Invitation to Comment on the conversion of the Uniform CPA Examination to a computer-based examination...

Tax aid by phone offered year-round.
March 22, 1998... Busy season may be finished, but the AICPA's TIPS (Tax Information Phone Services) program isn't. This service, which offers technical tax assistance by phone to CPAs, may be reached at (900) 555-TIPS. It's a member benefit, so you will need...

Risky business. (managing risk-prone engagements with clients in accounting)(includes related article on assurance services)
March 22, 1998... Great risk can sometimes lead to great rewards. It can also be a trapdoor to disaster. You're out on the course with your golfing buddy Bob, the same guy you've been golfing with for years. It's nearly noon on this summer day; the sun is hot...

Advising the suddenly wealthy.
March 22, 1998... F. Scott Fitzgerald once offered the statement, "The rich are different from you and me." To which Ernest Hemingway bluntly replied, "Yes, they have more money." CPA planners who deal with wealthy clients would certainly agree with both...

Where to now, CFO? (CPAs as corporate officers or controllers)(includes related article on enhancing new finance skills)
March 22, 1998... Greg Patti had never heard of the New Finance, a phrase coined by the American Institute of Certified Public Accountants, when he was contacted by Outlook magazine for an interview on the topic. He had never heard the terms New CPA or New...

Gone but not forgotten. (telecommuters)(includes related article on remote management by telecommuters and Internet Web-based telecommuting resources)
March 22, 1998... CPA Tony Teng enjoys being around his co-workers - he even says he wants to socialize with them more often - but the fact is, he gets more work done when they're not around. Teng, a founding partner of Orange County's Performance Technology...

How to avoid eight common mistakes made by businesses in financial crisis.
March 22, 1998... Businesses in financial crisis often compound their misery by making ill-advised decisions at crucial times. Avoiding these common mistakes could mean the difference between survival and bankruptcy for your company or your client's business....

Does your client qualify as a real estate professional?
March 22, 1998... The 1993 Budget Reconciliation Act contained a provision that excludes certain rental real estate activities of real estate professionals from the passive activity rules. You may be surprised to find that you do not have to be a full-time real...

Calculate basis for immediate tax savings.
March 22, 1998... Our clients have been putting money into retirement assets for a number of years. Now many clients are taking required minimum distributions or contemplating the rollover of an existing Individual Retirement Account (IRA) to a Roth IRA. It is...

OCBOA variations from GAAP must be noted, but not quantified. (other comprehensive basis of accounting)(generally accepted accounting procedures)
March 22, 1998... Q: Our firm issues financial statements that are prepared on an other comprehensive basis of accounting (OCBOA). What are the required disclosures for these types of financial statements? A: The disclosures for OCBOA financial statements are,...

Is it time to upgrade your network? The pros and cons.
March 22, 1998... For those who are already networked, or those who have not yet taken the plunge, this article provides guidance on the networking options currently available. The most essential form of networking today doesn't involve playing golf,...

Software training and upgrading strategies that work. (computer-based training)(includes related article on training options)
March 22, 1998... Let your employees know that you expect them to actively participate in the learning game, and to take partial responsibility for their own learning and training. Meet Kelly. Kelly works for one of my clients, and over the years, she has...

Password protected: The ins and outs of business extranets.
March 22, 1998... A key aspect of extranets is the ability to access rapidly changing information in real time. Dynamic pages are created on the fly, in response to user requests. How many of your clients will be building extranets in the next two or three...