Featured Online Content for February 2012



Time to Test-Drive the Revenue Recognition Proposal
Russell Hodge, global technical controller at General Electric, said a new standard on revenue is close enough to reality that he is instructing business managers to keep the likely new regulations in mind as they draw up contracts. Read what Hodge and other members of a panel on the topic had to say about the impact of the proposed changes and how to prepare for the new rules.


New Auditors’ Reporting Model Proposal Set for Release in Q2
By the second quarter of this year, the PCAOB’s proposal for a new auditors’ reporting model should be completed, PCAOB Chair James Doty said at an AICPA conference on SEC and PCAOB developments in Washington. The PCAOB also will hold a public meeting in March on the issue of potential limits of audit firm tenure with public companies.

Example Worksheets for a Statement of Cash Flows for an Organization With Multiple Functional Currencies
Mistakes in accounting for foreign-currency translations are commonplace, and the results of those errors can be costly. The online version of the feature article “Three Common Currency-Adjustment Pitfalls,” contains example worksheets illustrating one of the three common mistakes and the correct method.


LinkedIn Introduces Company Status Updates
Enhancements to LinkedIn’s “Company” pages allow users to receive status updates—such as news, job openings, employee promotions or departures, videos, new services or product information—directly from the companies they follow.

LinkedIn has more than 2 million company pages. To find companies you’re interested in, choose “Companies” in the dropdown menu to the left of the search bar and enter the company name in the search bar. When you locate the page you’d like to follow, click the blue “Follow Company” button in the right column of the page.

You will see status updates from all of the companies you follow on your home page news feed or by clicking the “Companies” link in the navigation bar at the top of the page.

For more social media tips, visit facebook.com/JournalofAccountancy and click the “Social Media Tips” link in the left column.

Megan Pinkston ( mpinkston@aicpa.org ) is a JofA senior editor.



Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.