CPA Letter articles from May 2006

CPA Letter archives from May 2006

AICPA tells House subcommittee new financial reporting model offers investors better information.(news update)
May 1, 2006... Barry C. Melancon, the AICPA's president and chief executive officer, testified in Mar. before Congress on the need for a new financial reporting model that gets more quality information into the hands of investors faster, thereby enabling them...

AICPA launches online center for reporters.
May 1, 2006... In its continuing efforts to reinforce media relationships and serve as an outlet of information for the press, the AICPA last month unveiled a new online resource center for reporters (www.aicpa.org/mediacenter/welcome.htm). The media center...

AICPA career opportunities for CPAs.
May 1, 2006... If you are interested in serving the profession, the AICPA has a variety of career prospects for CPAs in its new Durham, N.C., location. As reported in Oct. 2005, to lower operating costs and enhance member services, the AICPA is relocating...

PCPS relocks its premium web content.
May 1, 2006... This month, PCPS is relocking all the free premium content (anything marked with a padlock icon) at the online Firm Practice Center (www.aicpa.org/pcps). May 15 is the last day for visitors to view this information without joining PCPS or, in...

AICPA Insurance Trust relocates to streamline operations, boost savings.
May 1, 2006... In May 2005, the AICPA Life Insurance and Disability Plans Committee approved a proposal to relocate AICPA Insurance Trust operations from New York City to Hatboro, Pa. The move, which began last Aug., was completed on Apr. 1. The Hatboro...

Public meeting notices.(Calendar)
May 1, 2006... Accounting & Review Services Committee: May 30-31, New York Auditing Standards Board: June 20-22, Chicago Council: May 22-23, Salt Lake City Tax Executive Committee: June 19-20, Atlanta

FASB issues proposal to improve financial reporting on pension plans, three EITF draft abstracts.(accounting & auditing news)
May 1, 2006... The Financial Accounting Standards Board has issued a proposal that it believes would improve financial reporting by requiring employers to recognize the overfunded or underfunded positions of their defined benefit postretirement plans,...

CPA financial planners demonstrate expertise with PFS credential.
May 1, 2006... CPA financial planners have an advantage over non-CPA financial planners because they possess a broader range of experience and follow the AICPA's strict code of ethics. To assist CPAs with demonstrating that breadth of expertise, skills and...

AICPA interactive recruitment game wins Internet Advertising Award.
May 1, 2006... The Turnaround Game, an interactive online game designed to teach students about the accounting profession as they save a failing record company, has won the Best Non-Profit Interactive Application in the Internet Advertising Competition...

No significant problems arise during 2006 tax filing season, AICPA tells Congress.
May 1, 2006... No significant problems have arisen during the 2006 tax filing season, the AICPA told Congress last month as the end of the tax filing season approached. Tax practitioners are "generally pleased" with the IRS's performance this year, Tom...

Recommendations made to Congress to reform Subchapter S.(Brief article)
May 1, 2006... Last month the AICPA made recommendations to members of the Senate Finance Committee about provisions the Institute believes should be included in the S Corporation Modernization Act of 2006. In its letter, the AICPA said the recommendations...

Tax Day public service announcement.
May 1, 2006... Tax Day is always a fright but this year screams of angst were kept to a minimum, thanks to a humorous public service announcement reminding Americans that Tax Day this year was Apr. 17 (in most states), not Apr. 15. The PSA, produced by the...

AICPA informs public about 10 common tax filing mistakes.
May 1, 2006... As this year's tax filing deadline approached, the AICPA reminded taxpayers of l0 of the most common mistakes made each year by individual taxpayers on their federal tax returns. A press release, which drew the attention of several media...

AICPA partners with Daubert Tracker to provide financial testimony tool.(member news)
May 1, 2006... Through a partnership with Daubert Tracker (www.dauberttracker.com), the AICPA now can provide members of the AICPA Business Valuation and Forensic and Litigation Services Section with discounted access to the Daubert Tracker online database....

Shaping Up Your Accounting Function: Trimming the Fat and Going Lean.(CPE news)
May 1, 2006... Shaping Up Your Accounting Function: Trimming the Fat and Going Lean (No. 733040CPA05). Gain insight on the tools and techniques that can be used to streamline your financial, operational and managerial accounting operations. Prerequisite:...

Employee Benefit Plans: Audit and Accounting Essentials.(CPE news)
May 1, 2006... Employee Benefit Plans: Audit and Accounting Essentials (No.733000CPA05). Master the fundamentals in accordance with AICPA and EBSA standards and avoid the snafus. Prerequisite: Knowledge of ERISA and IRS requirements for benefit plans....

Tax Research Techniques for an Effective, Efficient Practice.(CPE news)
May 1, 2006... Tax Research Techniques for an Effective, Efficient Practice (No. 733160CPA05). Develop "best practices" in tax research through the use of time-tested methods combined with the newest electronic research techniques. Prerequisite: None....

Section 199: Benefiting From the Production Activities Deduction.(CPE news)
May 1, 2006... Section 199: Benefiting From the Production Activities Deduction (No. 186491CPA05). Make the most of the new production activities deduction. This new CPE videocourse is ideal for individual self-study or on-site staff training. Prerequisite:...

Disciplinary actions.
May 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:...

AICPA/Harris poll: tough retirement years ahead for Americans unless they take control now.
May 1, 2006... Many Americans are headed for tough retirement years and may not be able to maintain their current standard of living, suggests a new poll conducted by Harris Interactive for the AICPA. Harris Interactive surveyed 1,000 U.S. adults during Mar....