| Way to Go! |
Manescalchi, director of marketing for Boulay, Heutmaker, Zibell
& Co. in Minneapolis, was named the CPA Marketing
Reports 1997 Accounting Marketer of the Year.
Manescalchi received the award at the Association for Accounting
Marketing conference in New Orleans. The award is the only
national honor for marketing excellence within the accounting
You Can Practice Here
Alabama State Board of Public Accountancy adopted a
substantial equivalency rule, effective June 18, 1997.
According to the rule, any applicant with a valid unrevoked
license to practice as a CPA from any jurisdiction and who is
in compliance with the current Uniform Accountancy Acts CPA
registration requirements is qualified to practice in Alabama.
Alabama and Texas are the first two states to pass such a
Ready for 2000?
Securities and Exchange Commission issued a report on the
readiness of the SEC, the U.S. securities industry and public
companies in addressing the Year 2000 computer problem. The
report said most members of the securities industry are
involved in the assessment and remediation phases of the
effort to address the problem but some companies had only
recently become aware of the problem. The report is available
on the SEC Web site at
The Federal Accounting Standards
Advisory Board issued two exposure drafts for public comment.
Accounting for Internal Use Software provides
recommended standards for general property, plant and
equipment software used to operate an entitys programs. The
second ED, Governmentwide Supplementary Stewardship
Reporting Standards , solicits comments on proposed
standards amending Statement of Recommended Accounting
Standards no. 8, Supplementary Stewardship Reporting
. Comments on both proposals are due by mid-September.
For more information, contact the FASAB at 202-512-7350.
America Loves Mutual Funds
Investment Company Institute reported investments in mutual
funds continue to rise. In May 1997, the net assets of all
mutual funds totaled $3.905 trillion, up from $3.174 trillion
a year earlier.
Wrest Money From the Government
Bobby L. Rush (D-Ill.) chaired the Illinois earned income
credit program, sponsored by the Illinois CPA Societys CPAs
for the Public Interest. CPAs helped more than 4,300
low-income taxpayers prepare federal and state returns; the
program resulted in $3.3 million in refunds.
The "Golden Door" Opens Wide
Multilingual CPAs may find themselves with a big advantage.
The most recent Census Bureau statistics show more than 9% of
U.S. residents are foreign born and more than 25% of them came
to the United States after 1990.
The Canadian Institute of
Chartered Accountants announced a change in leadership at its
recent annual meeting: Donald H. Penny, FCA, managing partner
of Meyers Norris Penny & Co., is the groups chairman.
Michael H. Rayner, FCA, remains as president.
The International Environment
International Federation of Accountants is seeking comments on
a proposed international auditing practice statement.
The Consideration of Environmental Matters in the Audit of
Financial Statements examines issues such as
considering relevant environmental laws and regulations,
having sufficient knowledge of the environmental matters and
using the work of environmental experts. Comments on the
exposure draft are due by September 30. A copy is available on
the IFAC home page at
http://www.ifac.org or by calling 212-302-5952.
Gone But Not Forgotten
retirees were honored recently. Dennis Beresford, immediate
past FASB chairman, received the California Society of CPAs
National Lifetime Service Award. The award goes to a
Californian who has made an extraordinary contribution to the
accounting profession on a national level. Also, JT Ball,
recently retired assistant director of research and technical
activities, was surprised with $20,000 in pledges from current
and former FASB fellows to establish a scholarship. The JT
Ball/FASB Fellows Endowed Scholarship Fund is being
established at the School of Accountancy at the University of
South Florida, Tampa.