Journal of Accountancy Large Logo
September 2008
Red Flag
TAX / EMPLOYEE BENEFITS

Be wary of single-employer section 419 welfare benefit plans being pushed by promoters. These arrangements, which commonly purport to allow deductibility of premiums paid for life insurance under a welfare benefit plan, have been deemed by the IRS to be tax-avoidance schemes or otherwise abusive. The penalties can be especially costly for small businesses.

Managing Multiple
TECHNOLOGY / BUSINESS & INDUSTRY
As companies look for ways to streamline corporate governance and internal control systems, identity and access management (IAM) has garnered new attention. Four accounting technology experts explain how CPAs can explore and implement IAM. 
FORENSIC AND VALUATION SERVICES
Increased focus on the importance and value of intangible assets has spawned numerous high-stakes disputes among market competitors. Many of these disputes have resulted in multimillion-dollar verdicts where the parties were unable to negotiate a license agreement for the use of patents. Litigation consultants can use this article to learn how to measure economic harm in the form of reasonable royalties in intellectual property disputes.
Bookshelf Review

Recent research has confimred that most executives agree intellectual capital is critical to the future success of their businesses, but their approaches to measuring and managing the invisible enabler of performance are either poor or nonexistent. This article introduces the new Management Accounting Guideline Impacting Future Value: How to Manage your Intellectual Capital.

TECHNOLOGY WORKSHOP
Modifying the default join property of data extraction and analysis software makes it easier to spot the warning signs of fraud and other irregularities. Get a step-by-step guide to changing join properties to perform a variety of audit tests.
TAX
Advising the IRS as a member of this citizens advisory body is one way tax professionals can harness their expertise for the public good.
HEADLINER Q & A
Ian Dingwall, chief accountant for the Department of Labor’s Employee Benefits Security Administration, shares insights on employee benefit plan accounting and auditing.

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