Periodic payout reviews also advisable

BY EDUARDO JORDAN, CPA

What a great article and wonderful sage advice that appeared in the JofA (“When a client leaves or loses a job,” Feb. 2012, page 40).

As a CFO and controller in industry, may I add that it would be wise for participants to periodically review their choices of payout to make sure that their choices reflect their desires and current lifestyles. Over the last couple of decades, I have encountered several instances when employees are retrenched and, lo and behold, these terminated employees realize that they have chosen a payout from either their deferred comp or their 401(k) plans that does not match their current situation.

Keep up the great articles.

Eduardo Jordan, CPA
Aliso Viejo, Calif.

Editor’s note: Jordan is a member of the AICPA governing Council.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.