November 1997 - Journal of Accountancy

EXECUTIVE SUMMARY ANALYTICAL PROCEDURES can improve audit efficiency and effectiveness, yet these procedures require significant audit judgment on the part of the auditor in identifying and investigating unexpected fluctuations. STATEMENT ON AUDITING STANDARDS no. 56, Analytical Procedures, characterizes the steps to be used in these procedures. RESEARCH STUDIES found auditors

For Minnesota sole practitioner Leota Goodney, the use of flexible and part-time scheduling for employees is “the way Ive been able to survive.” Like many other tax practitioners, her workload is concentrated during the first three or four months of the year, so she does not need full-time help in

EXECUTIVE SUMMARY IN RECENT YEARS IT HAS BECOME difficult for companies to provide key executives with adequate retirement income through qualified plans. Qualified plan limits and the declining prospects for Social Security mean companies must turn to nonqualified deferred compensation to fill the gap. FAVORABLE TAX BENEFITS FOR employer and

EXECUTIVE SUMMARY THE $150,000 LIMIT ON RECOGNIZED compensation—imposed by Congress in 1994—restricts the amount of benefits available to higher paid employees under tax-favored retirement plans. Indexing for inflation increased this limit to $160,000 in 1997. USING “PERMITTED DISPARITY,” PLANS are allowed to have limited discrimination in favor of higher paid

Stuart Kessler, the new chairman of the board of the American Institute of CPAs, characterizes himself as the quintessential CPA—his firm, Goldstein Golub Kessler & Co. in New York City, of which he is the senior tax partner, is extremely diverse; he loves working with people; and he leads an

EXECUTIVE SUMMARY WHILE THE VICE-PRESIDENT of finance and administration at the Indiana Credit Union League, Susan Kline found that gaining expertise in employment law enabled her both to help her employer and to serve as a consultant to its constituency. BECAUSE EMPLOYMENT LAW is a complex and expanding field, employers

A Journal Survey About a generation ago, the only tools an accountant used were a hand-cranked calculator, a columnar pad and a sharp pencil. In those days, an electric pencil sharpener was considered a high-tech accessory. Today, you probably wont find any of those tools in an accountants office—except maybe