Compensation and Benefits / Practice Management
CPA firms can employ a unique plan that uses the compounding effect of the time value of money in a tax-free environment to minimize the pain of paying benefits to retired partners.
The Vision Process
Three CPAs who attended the CPA Vision Project's National Future Forum as delegates discuss how all the brainstorming about the future of the profession has begun to change their day-to-day work. They also look at what effect it may have on their careers into the next century.
Financial Reporting
Over time, businesses have used different income reporting concepts in preparing their financial statements. With statement no. 130, the FASB has moved closer to an all-inclusive income determination method.
Auditing
SAS no. 82—the first auditing statement to call a fraud a fraud—is now in effect. What are your responsibilities for fraud detection, documentation and reporting? What skills do you need? The time to educate is now. Case study: Misappropriation of assets.
Government Auditing
The OMB released final audit requirements for not-for-profits and state and local governments that receive federal financial awards. This article describes the legislative and regulatory changes resulting from the new guidance and explains how they will affect auditors who perform single audits. Also included is an outline of recent AICPA single audit guidance. Case study: Auditors In Training: How one state prepared its auditors for the plunge.
New Assurance Services
Interested in performing WebTrust engagements? Before you start, learn about some of the key problems of e-commerce, what the market is looking for who your possible competitors will be. Case study: How an online discount currency exchange ensures the security of its transactions.
Technology
Many of the stories about the ability of computer viruses to spread from machine to machine are pure fiction. However, computer viruses are very dangerous. This article debunks many of the rumors about how computers get infected and provides guidance on how to protect your system against a virus attack.