CPA Letter articles from February 2006

CPA Letter archives from February 2006

Highlights from board of directors' December meeting.(news update)
February 1, 2006... Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Dec. 8-9, 2005: * A new edition of the AICPA/National Association of State Boards of Accountancy Uniform Accountancy Act...

PCPS Firm Practice Center unlocks premium web content for limited time.(American Institute of Certified Public Accountants. Private Companies Practice Section)(Brief article)
February 1, 2006... The PCPS Firm Practice Center (www.aicpa.org/pcps) has opened its premium content to everyone, including firms that are not members of PCPS. Through mid-May, visitors to the site are able to view articles, tools, technical updates and other...

AICPA announces Top Technologies for 2006.(news briefs)
February 1, 2006... Initial results on the AICPA's Top Technologies for 2006 are in, with information security taking the top spot for the fourth year in a row. Four new technologies made the list for the first time this year: assurance and compliance, IT...

Members offered airline, car rental, Amtrak discounts.(news briefs)
February 1, 2006... The AICPA has a special agreement with Carlson Wagonlit Travel--The Leaders Group, to assist you with travel arrangements (call 800/345-5540) when attending eligible AICPA conferences or meetings. If you prefer to make your own travel plans,...

Financial Literacy efforts honored again.(360 Degrees of Financial Literacy)(Brief Article)
February 1, 2006... 360 Degrees of Financial Literacy won a 2005 Platinum Award from the League of American Communications Professionals and was included on the organization's list of Top 50 Communications Materials for 2005. In addition, the program won a...

How to obtain permission to reprint CPA Letter articles.(news briefs)
February 1, 2006... Be advised that our authorized permissions agent, Copyright Clearance Center, can provide you with quick permission for the reproduction of articles from The CPA Letter. The CCC will always advise you of the required permission fee before...

CPA Letter supplements available.(news briefs)
February 1, 2006... To obtain the public accounting, business and industry, government or education member-segment supplements produced this month with The CPA Letter, visit: Website: www.aicpa.org/pubs/cpaltr/feb2006/supps/index.htm

Chair's corner.
February 1, 2006... The majority of our members practicing in public accounting firms are working in smaller firms. Working to address the unique challenges facing small firms is among the AICPA's most important functions. I want to talk this month about some of...

Disciplinary actions.
February 1, 2006... As a result of investigations of alleged violations of the Codes of Professional Conduct of the AICPA and/or state CPA societies, the following ethics cases have been resolved by settlement agreement under the Joint Ethics Enforcement Program:...

GAO provides temporary exemptions, guidance in response to hurricanes.(regulatory matters)
February 1, 2006... Audit organizations that audit entities in the Presidentially Declared Disaster Areas should be aware that on Dec. 15, 2005, the Government Accountability Office released a document that provides temporary exemptions to certain provisions of...

Tax standard on quality control exposed for comments.(tax info)
February 1, 2006... The AICPA Tax Executive Committee recently voted to expose for public comment proposed Statement on Standards for Tax Services No. 9, Quality Control. In light of tax season, the comment period has been extended to Aug. 31, 2006. The...

AICPA comments on proposed tax legislation, expresses deep concern over certain provisions.(tax info)
February 1, 2006... The AICPA sent Congress a comment letter on several revenue provisions contained in S. 2020, the Tax Relief Act of 2005. Our comments related specifically to the bill's Sec. 501, Understatement of taxpayer's liability by income tax return...

AICPA convinces IRS to revise Schedule D reporting.(tax info)
February 1, 2006... After comments from the A[CPA about the burden imposed on tax practitioners, the Internal Revenue Service has released a statement clarifying the Form 1040, Schedule D instructions involving capital gains transaction reporting. The AICPA was...

AICPA initiatives for members: an update.
February 1, 2006... Enhancing members' professional lives has long been a primary focus of the AICPA. Here's a review of some Institute programs and accomplishments in recent months. Serving the Public Interest * When hurricanes devastated the southern...

2005 tax acts: three acts in one!(CPE news)
February 1, 2006... (No. 733050CPA02). From widespread hurricane provisions to significant energy credits to major bankruptcy provisions, your clients may be impacted. Find guidance in this new CPE self-study course. Prerequisite: None. Recommended CPE credit...

The AMT for individuals: strategies to escape its reach.(CPE news)
February 1, 2006... (DVD--No. 181463CPA02; VHS--No. 181462CPA02). Presenter Sidney Kess leads a team of expert panelists in reviewing ways practitioners can advise clients on tax planning strategies to escape the AMT. This new edition CPE videocourse is ideal for...

Section 199: benefiting from the production activities deduction.(CPE news)
February 1, 2006... (DVD-No. 186491CPA02; VHS--No. 186490CPA02). Make the most of the new production activities deduction. This new CPE videocourse is ideal for individual self-study or on-site staff training. Special prepublication discount--save 15%. Be sure to...

Not-for-profit organizations strategic briefing, 2005-2006 edition.(CPE news)
February 1, 2006... (No. 780039hsCPA02). Expert panelists address current accounting, auditing and regulatory developments, including the impact of recently issued pronouncements on both preparers and auditors of not-for-profit financial statements. Based on a...

GASB publishes implementation guide on statement 44 statistical section.(accounting & auditing news)
February 1, 2006... The Governmental Accounting Standard Board has published a Guide to Implementation of GASB Statement 44 on the Statistical Section. The guide was prepared by GASB staff primarily to assist preparers and auditors of governmental financial...

PCPS releases Succession Planning white paper, steps to help firms meet succession needs.
February 1, 2006... Despite the fact that many CPA firm owners are reaching retirement. 81% of firms in a recent Private Company Practice Section survey do not have a documented succession plan. To help firms with this pressing concern, PCPS has rolled out an...

AICPA hosts webcast on small business tax questions.
February 1, 2006... AICPA Vice President--Taxation Tom Ochsenschlager hosted the Small Business Administration's Dec. 22 Web chat, Tax Planning & Preparation for Small Businesses. To access the archived program, visit www.sba.gov/chats/. The SBA began its series...