June 1998 - Journal of Accountancy

EXECUTIVE SUMMARY CPAs IN PUBLIC PRACTICE AND INDUSTRYheavy users of information technology (IT) themselvesare increasingly involved in the design, control and operation of their clients and companies information systems (IS). Therefore, they must advise clients or companies on using outside vendors to manage and support IT. IS AND IT OUTSOURCING

Executive Summary IN TODAYS BUSINESS WORLD, where data increasingly are in electronic format, manual audits may not be good enough. Powerful software applications that audit through rather than around the computer can examine raw accounting data faster than is possible manually and in as much detail as desired. SUCH SOFTWARE

Index Index to volume 185 January 1998 to June 1998 AUTHORS Antonucci, Yvonne Lederer; Lordi, Frank C.; Tucker, James J. III The Pros and Cons of IT Outsourcing. June, p. 26. Subjects in the Index Assurance Services Auditing Business/Industry Compensation and Benefits Education Exposure Drafts Outstanding Financial Reporting (includes Financial

EXECUTIVE SUMMARY KANSAS SOLE PRACTITIONER DeAnn Hill has succeeded by sticking to her small business niche. However, these companies are interested in far more than basic traditional services. TO AVOID BECOMING COMPLACENT about her client base or about her clients capabilities, Hill has begun to investigate online opportunities for her

EXECUTIVE SUMMARY CHANGES IN CORPORATE POLICIES mean that more companies seek high-level employees for short-term projects. Four CPAs created Accountants 4 Contract, a company that provides businesses with high-end accounting, finance, tax and business management talent for assignments that might last from a few weeks to a couple of years.

The door in Maryland Hall reads room 200, but students might think theyve walked into Multimedia Computer Techniques rather than Introductory Accounting I or II. From the moment you step into Professor Barry Rices classroom at Loyola College in Baltimore you know something is different. There is a blackboard, but

EXECUTIVE SUMMARY CORPORATE SPIN-OFFS HAVE BECOME POPULAR ways for companies to release shareholder value and achieve other business purposes. The transaction involves the pro rata distribution of a controlled corporations stock to the distributing corporations shareholders without their having to surrender any stock in the distributing corporation. Since the Tax

EXECUTIVE SUMMARY AICPA STANDARDS CLEARLY STATE procedures for confirmation of accounts receivable. Nevertheless, and despite an auditing procedure study, peer reviews continue to find that CPA firms have problems understanding the various processes. RECEIVABLE CONFIRMATIONS ARE NOT ALWAYS required if accounts receivable are immaterial, the use of confirmations would be