As U.S. comptroller general, David Walker used the bully pulpit to fuel a campaign highlighting the country’s ballooning federal debt levels and unfunded promises. Now president and CEO of the Peter G. Peterson Foundation, he’s stumping on issues including the deficit, savings levels, entitlement benefits, health care costs and the nation’s tax system.

Nonprofit organizations' board members and managers are filing their first returns under the much more extensive reporting requirements of the revised IRS Form 990. If the proper groundwork has been laid, they'll find the task much easier.

Also download the form and related schedules from the IRS Web site.

Given the highly unusual market conditions in recent months and recent guidance issued by FASB, companies are struggling to understand and properly apply accounting guidance to their investment securities. Two experts provide tips for improving such evaluations under new FASB Staff Position, EITF 99-20-1, Amendments to the Impairment Guidance of EITF Issue No. 99-20, published Jan. 12.

IRC § 1231 is often thought of as the best of both worlds: Upon sale or other disposition of business property, it allows long-term capital gain treatment of net gains but ordinary treatment of a net loss. But its interaction with other provisions governing capital gains and losses means there’s no one-size-fits-all approach. Savvy tax planning requires careful timing of property sales and recognition of gains and losses.

Common sense and advanced planning can prepare your firm for potential problems that may arise in the event of a merger or acquisition.

Faculty in charge of accounting Ph.D. programs at American colleges and universities say they recognize that CPAs starting out on an academic career track encounter challenges that can best be met by creative approaches.