CPA Letter articles from November 2005

CPA Letter archives from November 2005

New chair takes reins at October council meeting.(news update)
November 1, 2005... Leslie A. Murphy of Michigan is the new chair of the AICPA Board of Directors. Her term, which became effective at the fall governing Council meeting, will expire in Oct. 2006. Murphy's service to the Institute has included membership on...

New article series coming on peer review transparency.
November 1, 2005... The AICPA is continuing member communications regarding peer review. As part of this effort, over the next several months a series of articles will be posted in the special spotlight "Greater Transparency" section of the AICPA Web site (URL...

Gallup survey shows accounting's image still rising.
November 1, 2005... Consistent with independent research by Penn, Schoen & Berland Associates showing the CPA profession continues to garner high marks among business decision makers, executives and investors (The CPA Letter, June), a new Gallup poll reveals the...

AICPA annual report for 2004-2005 posted to web site.
November 1, 2005... The AICPA's annual report for the fiscal year Aug. 1, 2004, through July 31, 2005, has been posted to our Web site in PDF format (www.aicpa.org/about/annrpt/homepage.htm). "America Counts on CPAs" focuses on the initiatives, programs and...

Private companies being asked about enhanced business reporting.
November 1, 2005... The AICPA Private Company Enhanced Business Reporting Task Force developed a series of sample reports that illustrate what enhanced business reporting would look like for privately held companies. As part of that effort, the task force has...

Professional issues task force issues Practice Alert 2005-1.(Variable Interest Entities)(Brief article)
November 1, 2005... The Professional Issues Task Force has issued Practice Alert 2005-1, Auditing Procedures With Respect to Variable Interest Entities. The Practice Alert provides guidance to auditors of nonissuers and their firms in planning and performing...

Public meeting notices.(Calendar)
November 1, 2005... Accounting and Review Services Committee: Nov. 29-30, New York Accounting Standards Executive Committee: Nov. 15-16, New York; Jan. 10-11, Las Vegas

Chair's corner.
November 1, 2005... We hear it everywhere: We need more qualified people. In 2004, one out of six CPAs changed their position--up 2% from 2003. While we all recognize that this turnover is much too high, many of us are unsure how to react. It seems simple enough....

First "Women to Watch" Award recipients announced.
November 1, 2005... Five women CPAs from Illinois and six from New Mexico are recipients of the first "Women to Watch" Award, co-sponsored by the AICPA's Work/Life and Women's Initiatives Executive Committee, the Illinois CPA Society and the New Mexico Society of...

Financial literacy campaign picks up three more prestigious awards.
November 1, 2005... Three additional prestigious awards further demonstrate the value of the profession's national 360 Degrees of Financial Literacy effort. The AICPA recently was honored with the 2005 Clarion Award from the Association for Women in Communications...

CPA volunteers needed to develop new simulation concepts for CPA exam.
November 1, 2005... The AICPA is now forming workgroups of CPA volunteers to develop new simulation concepts for the Auditing and Attestation, Financial Accounting and Reporting, and Regulation sections of the Uniform CPA Examination. Simulations are condensed...

AICPA, IRS seeking volunteers to mystery shop low-income tax clinics.
November 1, 2005... The AICPA is working with the Internal Revenue Service to strengthen volunteer tax-return-preparation clinics for low-income families. Many CPAs volunteer at VITA and similar clinics. To help improve quality control so taxpayers are...

Business filings Incorporated joining the AICPA Member Elite Values Program.(member news)
November 1, 2005... Values Program AICPA members and their business clients can now take advantage of affordable incorporation services in all 50 states, thanks to Business Filings Incorporated joining the AICPA Member Elite Values Program. As part of the program,...

Guide to Wireless Technology, Networking offered.(member news)(American Institute of Certified Public Accountants, Guide to Wireless Technology and Networking)(Brief article)
November 1, 2005... The AICPA recently issued A CPA's Guide to Wireless Technology and Networking (No. 889585CPA11) to help members use wireless technology to improve the productivity of people and the efficiency of processes. It will enable CPAs to select the...

New Ethics Interpretation adopted; two exposure drafts released.
November 1, 2005... The Professional Ethics Executive Committee recently adopted a new Ethics Interpretation [101-15--Financial Relationships], under Rule 101, Independence (AICPA, Professional Standards, vol. 2, ET sec. 101-01) which defines financial interest,...

Highlights from board of directors' September meeting.
November 1, 2005... Following are some of the more significant actions that took place at the AICPA Board of Directors' meeting Sept. 22-23: * Board members received an update on Hurricane Katrina relief efforts (The CPA Letter, Oct.) regarding CPAs helping...

2005 Corporate Tax Returns Videocourse.(CPE news)
November 1, 2005... 2005 Corporate Tax Returns Videocourse (DVD: No. 112616CPA11; VHS: No. 112617CPA11). Presenter Sidney Kess leads a team of tax authorities in reviewing major tax developments affecting 1120 and 1120S return preparation for 2005 and provides...

2005 Individual Tax Returns Videocourse.(CPE news)(Brief article)(Video recording review)
November 1, 2005... 2005 Individual Tax Returns Videocourse (DVD: No. 113606CPA11; VHS: No. 113607CPA11). Presenter Sid Kess and team review major tax developments affecting 1040 return preparation for 2005 and provide planning strategies. Prerequisite: Knowledge...

AICPA's Federal Tax Update, by Biebl and Ranweiler, 2005-2006 Edition.(CPE news)(Brief article)(Book review)
November 1, 2005... AICPA's Federal Tax Update, by Biebl and Ranweiler, 2005-2006 Edition (No. 731134CPA11). Effectively and confidently complete tax planning and compliance engagements with guidance from two of the nation's leading tax authorities. Prerequisite:...

AICPA's Tax Update for Controllers, 2005-2006 Edition.(CPE news)
November 1, 2005... AICPA's Tax Update for Controllers, 2005-2006 Edition (No. 732507CPA11). Designed to meet the unique needs of the controller, this tax update covers recent tax legislation, regulations, cases and rulings. Prerequisite: A working "knowledge of...

AICPA's Complete Tax Update for Corporations and Pass Through Entities, 2005-2006 Edition.(CPE news)
November 1, 2005... AICPA's Complete Tax Update for Corporations and Pass Through Entities, 2005-2006 Edition (No. 731572CPA11). Identify ways to integrate the latest tax law changes into your planning and compliance engagements and provide more value-added...

AICPA's Complete Tax Update for Individuals and Sole Proprietors, 2005-2006.(CPE news)
November 1, 2005... AICPA's Complete Tax Update for Individuals and Sole Proprietors, 2005-2006 Edition (No. 731582CPA11). Practical insights and valuable tax-savings strategies on new laws, rules and court decisions. Prerequisite: Familiarity with federal tax...

2005 Bankruptcy Revisions: Implications for Businesses and Financial Advisors.(now available)
November 1, 2005... 2005 Bankruptcy Revisions: Implications for Businesses and Financial Advisors (No. 056515CPA11). Fundamental changes in the longstanding bankruptcy law have created new responsibilities for practitioners who advise debtors to achieve bankruptcy...

Tax Research Techniques, Seventh Edition.(now available)(Brief article)(Book review)
November 1, 2005... Tax Research Techniques, Seventh Edition. (No. 061071CPA11). Tax Research Techniques is designed to aid tax advisers and researchers in the development of their research skills. The book employs a systematic approach to tax problems based on...

New--Stock Option Accounting, FASB 123R, and SAB 107--Financial Reporting Alert: Understanding the Accounting and Debate Related to Share-Based Payments.(now available)
November 1, 2005... New--Stock Option Accounting, FASB 123R, and SAB 107--Financial Reporting Alert: Understanding the Accounting and Debate Related to Share-Based Payments (No. 022485CPA11). The new and controversial accounting rules governing stock option...

FASB issues revised proposal on earnings per share; GASB releases proposal clarifying existing guidance.(accounting & auditing news)(Financial Accounting Standards Board, Governmental Accounting Standards Board)(Brief article)
November 1, 2005... The Financial Accounting Standards Board recently issued a revised exposure draft of a proposed standard that would make targeted improvements to the reporting of earnings per share. Specifically, the proposed changes would clarity earnings per...

Disciplinary actions.
November 1, 2005... 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:...

Members say CPA letter is useful, valuable: new readership survey shows 91% of respondents give publication high marks.
November 1, 2005... Results from The CPA Letter's seventh readership survey show the newsletter continues to be a valuable communications vehicle serving members' information needs. In fact, 91% of respondents gave the newsletter an overall rating of good, very...

Recruitment efforts successful in attracting best and brightest to CPA profession.
November 1, 2005... Efforts to pump up interest in accounting as a career choice through the profession's award-winning "Start Here. Go Places." student recruitment campaign (www.startheregoplaces.com) have yielded very positive results. After three years, the...

Business, promotional merchandise in accessories collection sport "CPA" logo.
November 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...