CPA Letter articles from June 2005

CPA Letter archives from June 2005

CPA profession receives high marks from business decision makers, executives, investors.(Certified public accountants)
June 1, 2005... New independent research shows the CPA profession continues to garner high marks from business decision makers, executives and investors, earning favorability ratings of 97%, 95% and 89%, respectively. In fact, business decision makers and...

AICPA, state societies, labor department expand national education campaign on fiduciary responsibilities and health benefits compliance.(American Institute of Certified Public Accountants)(Brief Article)
June 1, 2005... The AICPA, state CPA societies and the U.S. Department of Labor are expanding their nationwide campaign to improve workers' health and retirement security by educating employers and service providers about their fiduciary responsibilities under...

Remember to renew your AICPA membership.
June 1, 2005... It is time to renew your AICPA membership for 2005-2006. Look for your AICPA annual dues statement via U.S. mail this month. For your convenience, you can pay your dues online at www.aicpa.org/ about/dues.htm. This method is the easiest way to...

Send in nominations for individual, firm public service awards.(Brief Article)
June 1, 2005... The AICPA Individual and Firm Public Service Awards help recognize individual CPAs and firms who have distinguished themselves in the area of community service. Eligible candidates for the Public Service Awards are submitted by individual...

Retirement planning brochure, speech added to CPA marketing tool kit.(Certified Public Accountants)(Brief Article)
June 1, 2005... If you are looking for ways to reach out to your clients about the retirement planning advice you can offer, consider sending them the new brochure, How to Afford a Long, Happy Retirement. Members may access the brochure free by clicking on...

Business and promotional merchandise in accessories collection proudly sport "CPA" logo.
June 1, 2005... Tens of thousands of members visibly display the "CPA" logo on their business cards, letterhead, promotional literature, signage, and even on lapel pins. In addition, many members use business gifts and giveaway merchandise which also...

Responses due June 30 for online poll on electronic CPA Letter.(Certified Public Accountants)(Brief Article)
June 1, 2005... In 2003, the AICPA revised the format and frequency of The CPA Letter to improve member communications. We began publishing the newsletter 12 times a year instead of 10, and put the full text online instead of an abbreviated issue. Six of the...

Public meeting notices.(Calendar)
June 1, 2005... Accounting and Review Services Committee: June 27-28, New York Accounting Standards Executive Committee: July 19-20, Chicago Tax Executive Committee: June 16-17, San Francisco

Secure payment service from U.S. Treasury can help clients avoid penalties.(United States)
June 1, 2005... The Electronic Federal Tax Payment System offers businesses and individuals a secure and easy way to pay all federal taxes online or by phone--and possibly avoid IRS penalties. Moreover, it is available free from the U.S. Department of the...

Tax season was smooth, AICPA tells Congress.
June 1, 2005... "It's been a smooth tax filing season," the AICPA told Congress recently. Tax practitioners are "generally pleased" with the performance by the Internal Revenue Service this year, Tom Purcell, chair of the AICPA's Tax Executive Committee and...

AICPA: complexity eroding voluntary tax compliance, especially among small businesses.(American Institute of Certified Public Accountants)(Brief Article)
June 1, 2005... Complexity is eroding voluntary compliance with our tax laws, the AICPA told the House Small Business Committee recently. "By and large, small businesses obey the law, but it's only human to inadvertently disobey a law if you do not or...

Chair's corner.
June 1, 2005... I grew up in a small town in Idaho which claimed to be the gateway to the Idaho wilderness area. It was a clean, safe, nurturing place where my friends and I could pretty much run free and without close parental supervision during the long...

Happenings at Board of Directors' April meeting.(Brief Article)
June 1, 2005... Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Apr. 21-22: * Board members approved establishing a task force to study the peer review transparency issue. Appointment...

Special feature: benefits of membership in the AICPA.(American Institute of Certified Public Accountants)
June 1, 2005... AICPA membership provides a host of resources, information and tools to help CPAs succeed and expand their professional horizons. Here are some of the many benefits, services, discounts and other savings available to members: Information...

Disciplinary actions.(Brief Article)
June 1, 2005... As a result of an investigation of alleged violations of the Codes of Professional Conduct of the AICPA and/or state CPA societies, the following ethics case has been resolved by settlement agreement under the Joint Ethics Enforcement Program:...

Government Accountability Office issues CPE guidance.(Continuing Professional Education )
June 1, 2005... In Apr., the Government Accountability Office issued a CPE document titled, Government Auditing Standards: Guidance on GAGAS Requirements for Continuing Professional Education (GAO-05-568G). This document is a follow-up to a June 2003 revision...

Partner compensation--always an important topic.
June 1, 2005... With all the changes taking place within the profession, ranging from Sarbanes-Oxley to succession planning, the one topic that continues to remain hot is the area of partner compensation. Oftentimes in multi-partner firms, it is not so...

Seminars.(CPE news)(accounting services)(Brief Article)
June 1, 2005... Start your 2005 CPE season with our wide variety of quality seminars. Visit our course listing at www.aicpalearning.org/seminars for dates and locations of the following new seminars or choose from over 150 other titles: * Accounting for...

Self-study courses.(CPE news)(video format of educational material)
June 1, 2005... New--Ethics: Non-Attest Services, Integrity, and Objectivity (No. 739400hsCPA06). Whether working in industry or public practice, this new course will give you a renewed understanding of basic principles critical in today's evolving business...

FASB issues proposal on GAAP hierarchy.(accounting & auditing news)(Financial Accounting Standards Board )(Generally Accepted Accounting Principles)(Brief Article)
June 1, 2005... Moving toward its goals of enhancing the quality of financial accounting standards and the standard-setting process, the Financial Accounting Standards Board has published an exposure draft, The Hierarchy of Generally Accepted Accounting...

Governmental accounting standards board issues concepts statement related to communication methods.(accounting & auditing news)
June 1, 2005... The Governmental Accounting Standards Board recently issued Concepts Statement No. 3, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements. According to the GASB, the Concepts Statement...

Accounting Education Center launched; Minority Initiatives, work/life balance covered as well.
June 1, 2005... Continuing its efforts to improve resources and services to members, the AICPA in late Apr. launched the Accounting Education Center at www.aicpa.org/aec. The Center, which was developed by the Academic and Career Development Team, contains...

Texas congressman cites AICPA in resolution on financial literacy.(American Institute of Certified Public Accountants)(Brief Article)
June 1, 2005... Rep. Ruben Hinojosa (D-Tex.) cited the AICPA's 360 Degrees of Financial Literacy campaign during remarks to the House of Representatives in Apr. that urged adoption of House Resolution 148, "Supporting the Goals and Ideals of Financial Literacy...

Financially literate audit committees boost stock price, study says.(Brief Article)
June 1, 2005... Audit committee members with knowledge of accounting issues and their related business ramifications translates into a higher stock price, according to a recent study by a University of Chicago researcher. Accountants, controllers or other...