Bankruptcy / Not-for-Profit
Nonpublic companies and other entities are in the enviable position of being able to choose which provisions of the Sarbanes-Oxley Act they adopt as best practices. Here are some they should consider.
Auditing
SAS no. 103, Audit Documentation, strengthens the provisions SAS no. 96 established for private company audits not long ago. Auditors don’t have much time to absorb and implement the new provisions, which are effective for audits of financial statements for periods ending on or after December 15, 2006.
Business Continuity / Practice Management
Hurricane Katrina has provided one of our country’s most dreadful experiences and hardest preparedness case studies. CPAs in Louisiana, Mississippi and Texas share war stories and details about how they coped and got back to work.
Tax
Taxpayers such as manufacturers, retailers and individuals can claim the deduction for qualified domestic production activities under IRC section 199. Here are provisions of the tax code section and practical examples to help your clients maximize the deduction.
Technology
You don’t have to be a high-tech CPA to turn your computer into the most efficient office tool. This article lists low-cost, easy-to-implement steps to improve its operation.
Practice Management / Technology
A database of firm-client interactions does more than just help you stay in touch. Use it to figure out what services to offer tomorrow.