CPA Letter articles from November 2006

CPA Letter archives from November 2006

AICPA and Ad Council launch financial literacy ad campaign--Feed the Pig[TM].(news update)
November 1, 2006... The highly successful 360 Degrees of Financial Literacy initiative is extending its reach with the launch of Feed the Pig[TM], a national public service announcement campaign. This joint effort of the AICPA, state CPA societies and the Ad...

President Bush signs into law bill giving CPAs exemption from Gramm-Leach-Bliley annual notification requirement.(just in ...)
November 1, 2006... In a major, hard-fought victory for the profession, President Bush on Oct. 13 signed into law the Financial Services Regulatory Relief Act of 2006 containing a provision that exempts CPAs from the Gramm-Leach-Bliley Act's annual privacy...

AICPA annual report for 2005-2006 posted to Web site.
November 1, 2006... The AICPA's annual report for the fiscal year Aug. 1, 2005, through July 31, 2006, has been posted to our Web site in PDF format (www.aicpa.org/About+the+AICPA/ Understanding+the+Organization/AICPA+ Annual+Report.htm). "Strengthening Our Core"...

Call for nominations for AICPA educator award.
November 1, 2006... State CPA societies and individuals are invited to nominate an accounting educator for the 2007 AICPA Distinguished Achievement in Accounting Education award. This award is designed to recognize full-time college accounting educators...

AICPA participates in international resource for CPAs in business.
November 1, 2006... The AICPA, as a member of the International Federation of Accountants, has collaborated with other member organizations to develop a new resource: IFACnet--A KnowledgeNet for Accountants in Business (www.IFACnet.com). This new global resource...

Lower rates introduced for AICPA's new preferred group variable universal life plan.
November 1, 2006... The AICPA's Insurance Trust is introducing a new Group Variable Universal Life plan with lower rates for members in good health aged 50-79 (The CPA Letter, Oct.). The new GVUL Preferred rates offer significant reductions on the cost of...

How to obtain permission to reprint CPA Letter articles.
November 1, 2006... Our authorized permissions agent, Copyright Clearance Center, can provide you with quick permission for the reproduction of articles from The CPA Letter. Submit a self-service permission request form via the Internet, which can be accessed...

CPA Letter supplements available.
November 1, 2006... To obtain the public accounting, business and industry, government and education member-segment supplements produced this month with The CPA Letter, visit: www.aicpa.org/pubs/cpaltr/nov2006/supps/index.htm

Public meeting notices.(Calendar)
November 1, 2006... Accounting and Review Services Committee: Nov. 20-21, Jersey City, N.J. Accounting Standards Executive Committee: Nov. 28-29, New York Professional Ethics Executive Committee: Nov. 30-Dec. 1, Durham, N.C.

New chairman takes reins at October council meeting.
November 1, 2006... Jimmy L. Williamson of Alabama is the new chairman of the AICPA Board of Directors. His term, which became effective at the fall governing Council meeting, will expire in Oct. 2007. He previously served a three-year term as a member of the...

XBRL-US to become independent organization; SEC to fund U.S. financial reporting taxonomy development.
November 1, 2006... XBRL-US will become an independent, not-for-profit organization early next year. Initially formed as a volunteer committee of the AICPA, the new entity will continue as the chartered U.S. jurisdiction of XBRL International, Inc., and as a...

AICPA study: Americans 25-34 face uncertain future.
November 1, 2006... A new study commissioned by the AICPA shows that the target group for the Feed the Pig campaign--Americans aged 25-34--faces an uncertain financial future unless they change their ways. Dr. Christopher Thornberg and Dr. Jon Haveman, economists...

Chair's corner.
November 1, 2006... I am honored to serve you as chairman this year and look forward to keeping you informed through these CPA Letter columns. Let me first say that even though I am a member of a small firm in Alabama, I believe each CPA belongs to a family of...

CPA2Biz announces strong year-end business results for fourth consecutive year.
November 1, 2006... CPA2Biz Inc. recently reported strong business results for its fiscal year ending July 31. Top line revenue grew by 10% to $15.7 million with net income of $1.5 million, up from $14.3 million and $0.2 million respectively, the year before. The...

AICPA requests PPA 2006 technical correction suggestions.(regulatory matters)
November 1, 2006... The AICPA Tax Division is identifying issues in the Pension Protection Act of 2006 where practitioners need technical corrections. These are commonly sought after a major bill is passed. At this time, Congress is expected to begin work on a...

AICPA gives IRS comments on long-term strategic plans.(regulatory matters)
November 1, 2006... The AICPA submitted a comment letter to the Internal Revenue Service Oversight Board on the Service's five proposed long-term enterprise measures to be used in conjunction with the IRS's Strategic Plan for 2005-2009. In its letter, the...

Treasury extends transition relief for nonqualified deferred compensation, as AICPA requested.(regulatory matters)
November 1, 2006... In Notice 2006-79, the Treasury and Internal Revenue Service extended the deadline for many aspects of complying with section 409A Nonqualified Deferred Compensation Plans from Jan. 1, 2007, until Jan. 1, 2008. Certain discounted stock options...

GASB issues statement on sales and collateralized borrowing.(accounting & auditing news)
November 1, 2006... The Governmental Accounting Standards Board has issued Statement No. 48, Sales and Pledges of Receivables and Future Revenues and Intra-Entity Transfers of Assets and Future Revenues. This statement establishes criteria that governments will...

FASB issues standards on fair value, pension plans.(accounting & auditing news)
November 1, 2006... The FASB (www.fasb.org) has issued a standard that provides enhanced guidance for using fair value to measure assets and liabilities. The standard also responds to investors' requests for expanded information about the extent to which companies...

AICPA Foundation Awards grant to help practitioners become academicians.
November 1, 2006... A $25,000 grant has been awarded by the AICPA Foundation to AACSB International the Association to Advance Collegiate Schools of Business--to fund scholarships for its Bridge Program (The CPA Letter, Aug.), which helps business professionals...

2006 corporate tax returns videocourse.(CPE news)
November 1, 2006... 2006 Corporate Tax Returns Videocourse (DVD: No. 112621CPA11; VHS: No. 112622CPA11). Presenter Sidney Kess leads a team of tax authorities in reviewing major tax developments--such as the Pension Protection Act of 2006 and the Section 199...

2006 individual tax returns videocourse.(CPE news)
November 1, 2006... 2006 Individual Tax Returns Videocourse (DVD: No. 113610CPA11; VHS: No. 113611CPA11). Presenter Sidney Kess and team review major tax developments--including the Pension Protection Act of 2006--affecting 1040 return preparation for 2006 and...

AICPA's federal tax update by Biebl and Ranweiler, 2006-2007 edition.(CPE news)(American Institute of Certified Public Accountants)(Brief article)
November 1, 2006... AICPA's Federal Tax Update by Biebl and Ranweiler, 2006-2007 Edition (No. 731135CPA11). Effectively and confidently complete tax planning and compliance engagements with guidance from two of the nation's leading tax authorities. This course...

AICPA's tax update for controllers, 2006-2007 edition.(CPE news)
November 1, 2006... AICPA's Tax Update for Controllers, 2006-2007 Edition (No. 732508CPA11). Designed to meet the unique needs of the controller, this tax update covers recent tax legislation, regulations, cases and rulings. Recommended CPE Credit: 16. Level:...

AICPA's complete tax update for corporations and pass through entities, 2006-2007 edition.(CPE news)
November 1, 2006... AICPA's Complete Tax Update for Corporations and Pass Through Entities, 2006-2007 Edition (No. 731573CPA11). 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, 2006-2007 edition.(CPE news)
November 1, 2006... AICPA's Complete Tax Update for Individuals and Sole Proprietors, 2006-2007 Edition (No. 731583CPA11). Practical insights and valuable tax-saving strategies from AICPA's seasoned tax pros who know what the new laws, rules and court decisions...

Managing Your Tax Season.(now available)(Brief article)(Book review)
November 1, 2006... Managing Your Tax Season (No. 090488CPA11), by Edward Mendlowitz, CPA. The best way to manage your firm's tax season is to implement a system. Managing Your Tax Season helps you improve the system, streamline it or amend it, so that your next...

AICPA awards grants for performance measures research.
November 1, 2006... The AICPA has announced the awards of grants for research on performance measures as part of a program in collaboration with the American Accounting Association Management Accounting Section (The CPA Letter, Aug.). The recipients of the three...

Happenings at board of directors' September meeting.
November 1, 2006... Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Sept. 19-20: * Leslie Murphy, now former chair, reported on her outreach activities since the July board of directors'...

Disciplinary actions.
November 1, 2006... 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:...

AICPA releases second exposure draft of proposed business valuation standard.
November 1, 2006... A revised exposure draft of a proposed Statement on Standards for Valuation Services, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset, was issued on Oct. 16. Last year, in an effort to help members provide...

AICPA in the media--recent highlights.
November 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. From Aug. through mid-Oct., the AICPA shared the profession's...