Michigan CPA articles from June 1990

Michigan CPA archives from June 1990

President's prospectus. (AICPA and MACPA plan to restructure) (column)
June 22, 1990... By the time this column is published my term as president will have ended. It was an amazingly fast 12-month term. This year was one of transition. The profession is in the middle of dramatic changes as a result of the passage of the AICPA...

Strategic management for public accounting.
June 22, 1990... Why are some firms successful, some only moderately so, and why do some fail? The answer probably lies in the firm's ability to fit into its environment. Strategic management is the process of attempting to match an organization with its...

Guidelines for setting up a client database.
June 22, 1990... Is your present client database giving you the information you need to service your clients effectively? Are you just now computerizing? Or are you upgrading your off ice equipment from early microcomputer days? To maximize the efficiency of...

Four steps to better client retention.
June 22, 1990... Marketing buzzwords have hit the accounting profession. No longer do we refer obliquely to practice development." We select our niche," use a rifle" approach and "segment" our market in our quest to capture new clients. But what...

Michigan taxation of subchapter S corporations and their shareholders.
June 22, 1990... This article discusses the Michigan taxation of subchapter S corporations and their shareholders. The primary focus is on the single business tax and the income tax, although the intangibles tax and inheritance tax are also covered. Taxation...

New law impacts accounting; revised Business Corporation Act affects accounting for capital transactions.
June 22, 1990... Effective October 1, 1989, wide-ranging changes were made to the Michigan Business Corporation Act (MBCA). A number of those changes are significant to CPAs because of the potential effect on reporting shareholders' equity in the financial...

Tax treatment of farm debt forgiveness. (column)
June 22, 1990... The Agricultural Credit Act of 1987 forced the Farmers Home Administration (FmHA) and the Farm Credit System (FCS) to put more emphasis on renegotiation of loans using loan and interest writedowns, extension of repayment periods and loan...

Determining economic damages in commercial litigation. (column)
June 22, 1990... Then an attorney, and/or attorney's client, hires an economic expert, he is typically looking for someone with expertise in the areas of finance, accounting and economics to help him to quantify the economic aspects of the case at hand. In...

Proposed reporting and display changes for the healthcare industry. (column)
June 22, 1990... Many differences in content and format exist between the financial statements of for-protit and not for-profit entities. Similarly major differences exist between the various industries that comprise the not-for-profit sector. In 1986, the...

Michigan real and personal property tax: a general primer.
June 22, 1990... While other taxes have been subjected to numerous reforms during the past decade, the Michigan property tax has not been significantly reformed since it was enacted in 1893. In Michigan, property taxes (both real and personal) have...

New developments for single audits of Michigan school districts. (column)
June 22, 1990... Performing audits of school districts has never been easy due to the complexity of the audit requirements and the diversity and complexity of the federal financial assistance programs. Therefore, several recent developments should be of...

Toward a fairer, simpler tax-free exchange law. (column)
June 22, 1990... If it is time for a kinder, gentler nation, maybe it's also time for a fairer, simpler tax-free exchange law; one that would eliminate a thousand points of regulations. This could be accomplished by amending internal Revenue Code Section 1031...

Taxation of construction contractors for Michigan sales & use tax. (column)
June 22, 1990... Over the last several years, there has been much controversy and confusion surrounding the taxation of contractors in Michigan for sales and use tax purposes. The confusion stems from 1982 legislation, [1] which redefined how manufacturer...