CPA Letter articles from July 2006

CPA Letter archives from July 2006

FASB, AICPA issue proposal to improve financial reporting for private companies.(news update)
July 1, 2006... The Financial Accounting Standards Board and the AICPA last month issued a joint proposal intended to improve the financial reporting process for private company constituents. Specifically, the joint initiative seeks constituent feedback on...

Senate passes Gramm-Leach-Bliley privacy exemption for CPAs.(just in ...)
July 1, 2006... An important victory for CPAs and their clients was won last month when the Senate passed a bill containing the profession's Gramm-Leach-Bliley Act privacy notice exemption regarding disclosure of personal financial information. Our exemption...

New online toolkit on job flexibility offered; DVD on staff retention released.(news briefs)
July 1, 2006... A new AICPA Web-based toolkit helps professional service firms and corporations implement flexible work arrangements to accommodate employees' work-life needs. FlexWise[TM], developed by Rupert and Company, is a comprehensive set of online...

AICPA Annual Members' Meeting to be held on October 24.(news briefs)
July 1, 2006... The AICPA's Annual Members' Meeting will be held on Tuesday, Oct. 24, at the Wynn Las Vegas Hotel in Las Vegas. Members also are invited to observe Council's deliberations, which will take place Oct. 23-24. CPE will be provided, as appropriate,...

AICPA, others partner to form think tank on wealth-building.(news briefs)
July 1, 2006... The AICPA's Tax and Personal Financial Planning membership sections have banded with several other major legal and financial service organizations to help address the different disciplines that today make up financial and wealth preservation...

AICPA merges staff support of XBRL, enhanced business reporting to facilitate improving business information.(news briefs)
July 1, 2006... A strategic merger of the AICPA's support of two principal initiatives for the profession--Enhanced Business Reporting and XBRL--was announced last month. Both Enhanced Business Reporting and XBRL have as their fundamental goals improved...

AICPA tax membership section free for limited time.(tax info)
July 1, 2006... To help CPAs strengthen their tax practices with tools and information, all AICPA members can access tax section member benefits online between July 1 and Aug. 15. Among the resources available from the Web site (www.aicpa.org/tax) are the...

AICPA patners with treasury on "Simplify" campaign; treasury offers enhanced batch provider software.(tax info)
July 1, 2006... The AICPA has signed on as an official U.S. Department of the Treasury partner on "Simplify"--a national initiative to communicate to tax preparers, small businesses and the financial services industry the benefits of paying federal taxes...

Tax talk web cast covers benefits of updating retirement plans.(tax info)
July 1, 2006... "Why Fix Mistakes in Retirement Plans Now Rather Than Later?" was the title of June's Tax Talk Today, an IRS co-sponsored monthly Web cast that addresses the most contemporary and complex tax issues. Programs are archived for one year and may...

Chair's corner.(AICPA)
July 1, 2006... For me, one of the great satisfactions of being a CPA is having the chance to use my skills to give something back to my community. The CPA profession is devoted to the public good, and that means not only performing professional services that...

Disciplinary actions.(AICPA)
July 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:...

Serving members' interests: an update on AICPA initiatives.
July 1, 2006... As a professional organization, the AICPA has two critical goals: to help CPAs live up to their time-honored commitment to the public interest, and to provide timely, effective tools to support CPAs in maintaining their competencies and leading...

Happenings at May Council meeting.
July 1, 2006... Following are some of the more significant actions and events that took place at the AICPA governing Council meeting May 21-23: * Council members were informed of the upward trend for CPA exam candidates. An increase of 48% in the number of...

AICPA in the media--recent highlights.
July 1, 2006... The AICPA's ongoing media relations efforts work to keep the national and business press informed about the Institute's wide-ranging initiatives and the outstanding work of CPAs. During the months of May and early June, the AICPA shared the...

Consider giving back to your profession for CPAs now and in the future.(member news)
July 1, 2006... As a member of the AICPA, you are likely well aware of the professional and advocacy activities of the AICPA. However, what you may not be aware of are the programs and services the AICPA offers its members and the profession through the AICPA...

Remember to renew your AICPA membership.(member news)
July 1, 2006... It is time to renew your AICPA membership for 2006-2007 if you have not already done so. AICPA annual dues statements were mailed last month. For your convenience, you can pay your dues online at www.aicpa.org/about/dues.htm. This method is the...

CPExpress, formerly InfoBytes, launches successfully.(Brief article)
July 1, 2006... On May 7th the AICPA successfully launched CPExpress (The CPA Letter, June). Feedback received from product subscribers has been very positive. Formerly known as AICPA InfoBytes, the online learning library has been completely upgraded....

Auditor's risk assessment process: tackling the new risk assessment SASs.(CPE news)
July 1, 2006... Auditor's Risk Assessment Process: Tackling the New Risk Assessment SASs (Text, No. 732990CPA07; DVD/Manual, No. 182990CPA07). Learn the requirements that significantly enhance the quality and depth of the understanding of the entity and its...

Nonprofit auditing and accounting update, 2006-2007 edition.(CPE news)
July 1, 2006... Nonprofit Auditing and Accounting Update, 2006-2007 Edition (Text, No. 732092CPA07; DVD/Manual, No. 182073CPA07). Covering all the latest auditing and accounting developments affecting nonprofit entities, this course will give you a complete...

Best tax and financial planning and money management ideas for your growing, middle income clients.(CPE news)
July 1, 2006... Best Tax and Financial Planning and Money Management Ideas for Your Growing, Middle Income Clients (No. 731714CPA07). Guide your client through planning for income and deductions, home ownership, savings, investments and retirement....

New finance and management accounting.(CPE news)
July 1, 2006... New Finance and Management Accounting (No. 731961CPA07). Discover new approaches to cost control and profitability analysis. Prerequisite: management responsibility in finance, operations or accounting. Recommended CPE credit: 12. Level:...

Innovative tax planning for small businesses: corporations, partnerships & LLCs.(CPE news)
July 1, 2006... Innovative Tax Planning for Small Businesses: Corporations, Partnerships & LLCs (No. 745519CPA07). Author Bill Bischoff, CPA, identifies savings opportunities and tax traps. Prerequisite: Basic knowledge of corporate income taxation....

Executive education customized for CPAs.
July 1, 2006... To ensure that CPAs can receive the same training opportunities as other professionals, the AICPA has created an executive education program in conjunction with the University of Southern California Marshall School of Business. The program is...

FASB seeking comments on bifurcation of insurance, reinsurance contracts.
July 1, 2006... As part of a broader initiative to improve financial reporting for insurance accounting, the Financial Accounting Standards Board recently announced it is seeking constituent comment and perspective on the potential bifurcation of insurance and...

Technical practice aid questions released on parent financial statements, accounting for purchased loans.
July 1, 2006... Three Technical Practice Aid Qs&As were issued recently by AICPA staff. One is on parent-company-only financial statements and their relationship to generally accepted accounting principles. Two others provide implementation guidance on...