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In an interpretation, the ASB addresses the Year 2000 issue and an entitys ability …
Y2K and the Going Concern The ASB is considering the possibility that the Y2K problem may not only cause problems for clients, but it may also stop them dead. The board recently issued an interpretation, “Effect of the Year 2000 Issue on the Auditor’s Consideration of an Entity’s Ability to
How To Report A Joint Activity
EXECUTIVE SUMMARY IN MARCH 1998, THE AICPA ISSUED SOP 98-2 , Accounting for Costs of Activities of Not-for-Profit Organizations and State and Local Governmental Entities That Include Fund-Raising . Effective for years beginning on or after December 15, 1998, the SOP applies to all fundraising activities of NPOs and to
Special Report: A comprehensive survey reveals Americans financial planning attitudes …
Survey Points the Way to Opportunities Your clients have problems. The smart practitioner knows, however, “There are no problems, only opportunities.” If that’s true, CPA financial planners face an array of opportunities in 1998. Every year, the Phoenix Home Life Mutual Insurance Co. conducts its Fiscal Fitness Survey to discover
Fixing late S elections.
IRS provides relief for certain corporations. From The Tax Adviser: Fixing Late S Elections T o be an S corporation, a corporation must make a subchapter S election by no later than the fifteenth day of the third month of the taxable year for which the election is to be
A New Way to Sell Financial Planning
Seven years ago, as Stephen A. Batman, better known as Tony, tells it, some of his friends began whispering that perhaps he was being a bit foolish. First, he had left a fast-track-to-partner position at Arthur Andersen to join a real estate development company. Two years later, he had jumped
Design a better Web site.
Design a Better Web Site CPAs by the hundreds have been creating Web sites on the Internet with the expectation that these virtual stores will generate new business for them. However, many of those CPAs are wondering why new clients aren’t beating a path to their doors and why their
Short takes, notes and items of interest.
F Y I Short takes, notes and items of interest Accountant Volunteers Relocate ¤ Accountants for the Public Interest has moved to offices on the campus of the University of Baltimore. The new address is Accountants for the Public Interest, University of Baltimore, Thummel Business Center, Room 155, 1420 North
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How to Report a Joint Activity By Gregory B. Capin and Joel Tanenbaum
Take A Load Off
When CPAs help clients select life insurance, they should be aware that its not always necessary to pay an agents commission as part of the purchase. Just as no-load mutual funds have gained popularity in the securities arena, low-load life insurance is slowly emerging as an option in this market.
Benefits and state government employees.
State Government Benefits As government employees move toward health maintenance organization (HMO) and point-of-service (POS) plans, costs change as well. However, most states continue to experience increases: Employee coverage Family States with increasing costs 22 24 States with decreasing costs 11 11 Reining in Costs Cost management programs
A Virginia firm uses a virtual office arrangement to combine the convenience and …
A small firm can present an impressive front by using technology to implement a virtual office. The Virtual Multioffice Firm By Anita Dennis Anita Dennis is a Journal contributing editor and the author of Creating a Virtual Office: Ten Case Studies for CPA Firms EXECUTIVE SUMMARY BROWN &
Learning for the Future
At the end of the first phase of the CPA Vision Process, delegates from the countrys 50 states and three jurisdictions emerged from the National Future Forum with lists of the accounting professions top-five values, services, competencies and issues (see sidebar). Topping the list of values is a reaffirmed commitment
Seven Steps to Judging Life Insurance
EXECUTIVE SUMMARY BECAUSE OF THEIR KNOWLEDGE OF clients financial circumstances, CPAs are in a unique position to help clients evaluate proposed life insurance coverage. By following seven commonsense steps, a CPA can make sure the client is making the best possible business decision. EVALUATING THE INSURANCE AGENT and his or
Workers sick time is down.
Worker’s Sick Time Is Down The number of hours employees have spent out of the workplace due to injury of illness has declined since 1992.
The Journal news staff talks with President Barry Melancon about key issues.
A Talk with Barry Melancon Recently, AICPA President Barry Melancon sat down with the Journal news stafffor the first of a series of periodic talksto share his thoughts on issues ranging from the CPA Vision Project to derivatives legislation. From his unique vantage point, what does he see in the
Questions about diversity.
Letters Queries on Diversity I read Minority Issues at Forefront and the accompanying diversity statement (JofA, Jan.98, page 13), and I wonder if the AICPA is considering amending the criteria by which one gains membership. Presumably, with academic and CPA exam standards already in existence, diversitywhatever that iswill be determined
Proposed revisions to SSAEs to allow for direct reporting.
Revamped SSAEs Practitioners add new services, such as CPA WebTrust, to their roster of services. Clients ask their CPAs to provide assurance on information beyond the traditional financial statements. These increasingly popular engagements fall under the statements on standards for attestation engagements. Realizing that the standards have to keep up
The Problems of Transfer Pricing
EXECUTIVE SUMMARY WHEN A COMPANY adds facilities in another stateor even worse, when it goes internationalit suddenly must contend with the complex process of transfer pricing. A KEY ELEMENT of transfer pricing is the presence of a buyer-seller relationship between units of a single company. Although owners and managers may
New independent contractor bill is introduced in the House.
New Independent Contractor Bill New legislation was introduced in the House on April 23 that would clarify the difference between independent contractors and employees for federal tax purposes. The Independent Contractor Tax Simplification Act of 1998 (HR 3722), sponsored by Congressman Jon Christensen (R-Neb.), provides a simple set of criteria
Features
SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
From The Tax Adviser
November 30, 2025
Digital asset transactions: Broker reporting, amount realized, and basis
October 31, 2025
Recent developments in estate planning
October 31, 2025
