Featured Online Content for December 2011


FEATURED VIDEO

 

The Cloud: Security and Opportunities

Donny Shimamoto, CPA/CITP, managing director of IntrapriseTechKnowlogies, examines risks and rewards of cloud computing and explains how business concerns should play the key role in deciding whether to move services to the cloud. The video is available here.

 

 

ONLINE EXTRAS

 

ARTICLE

IRS Updates, Clarifies Travel Allowance, Reinstates High-Low Method

The IRS said it will continue to allow taxpayers to use the high-low method to substantiate travel expenses, reversing a July decision to discontinue the method. The IRS also provided guidance on the use of the federal per diem rate. The article is available here.

 

BONUS CONTENT

New Revenue Sources for CPA Firms

In this online-only excerpt from our “Technology 2012 Preview” series (see Part 2 on page 30), three of the accounting industry’s top technology experts, David Cieslak, CPA/CITP, Randy Johnston and Rick Richardson, CPA/CITP, look at ways CPA firms can leverage technology to create new revenue streams. The article is available here.

 

ARTICLE

AICPA Survey: Most CPAs Support IFRS Option

A majority of CPAs support optional adoption of International Financial Reporting Standards (IFRS) for public companies, according to the AICPA’s latest IFRS Readiness Tracking Survey. Some 120 countries either use or permit the use of IFRS. The article, which includes other survey findings and a link to the full results, is available here.

 

 

SOCIAL MEDIA TIP

 

Showcase Volunteerism on LinkedIn

 

CPAs are passionate about giving back and lending their expertise through volunteer work. But how many of your peers, co-workers or clients know about your volunteerism or the causes you support? Recently, LinkedIn launched a feature that allows users to highlight these accomplishments. Users can list volunteer positions, causes they care about and organizations they support. It’s simple to use. Here’s how:

 

  • At the top of your page, hover over the “Profile” tab.
  • Click “Edit Profile.”
  • Under the main profile portion, you will see an orange box that says “New.”
  • Click “Add Sections” to launch a pop-up box.
  • On the left side, scroll down to select “Volunteer Experience & Causes.”
  • Click “Add to Profile.”
  • Follow the steps to fill out the information you would like to highlight.

 

For volunteer opportunities at the AICPA, visit volunteers.aicpa.org. For more social media tips and how-to’s, visit facebook.com/JournalofAccountancy and click the “Social Media Tips” link in the left column.

 

Stacie Saunders (ssaunders@aicpa.org) is the AICPA’s social media strategist.

 

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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.