February 1999 - Journal of Accountancy

Tax law is extremely complex and despite debate in Congress about fundamentally restructuring the Internal Revenue Code, it has not gotten simpler. The ongoing enactment of new laws, such as the 1997 Taxpayer Relief Act, continues to frustrate taxpayers and CPAs and makes it especially difficult for small and midsize

EXECUTIVE SUMMARY THE MOVE TO THE INFORMATION AGE has opened up opportunities such as WebTrust for CPAs, but with new opportunities come possible litigation problems. Education is the key to safely performing WebTrust engagements. IN BOTH NEW AND TRADITIONAL SERVICES, CPAs have had to face the expectation gap, the difference

EXECUTIVE SUMMARY CAPITAL MARKETS CURRENTLY ARE MUCH MORE volatile than they have been in years. That has caused some pension plan fiduciaries to rethink their role, including their investment strategies. Investment committees should review their plans strategy in light of the changing market conditions. BEGIN THE STRATEGY REVIEW with the

EXECUTIVE SUMMARY EVERY BUSINESS PERSON KNOWS WHAT IT feels like to waste time at a poorly run meeting. Luckily, modern technologies, such as e-mail, may eventually reduce the number of face-to-face confabs and save time for employees. WHEN YOU CALL A MEETING, BE SURE TO have a clear idea of

EXECUTIVE SUMMARY NEW, FAST-GROWING COMPANIES often can’t balance the dual goals of building sales and managing profitability. Not until a business hires an experienced CFO can it focus on ways to find such a balance. But there are steps even a young enterprise can take, on its own or with

EXECUTIVE SUMMARY NATURAL DISASTERS, MAN-MADE DISASTERS, communications and data network disruptions or the like can put a company out of business. A business continuity plan can help it survive. CPAs HAVE THE SKILLS TO ADD value to business continuity plans. These skills come from experience with risk identification and management

EXECUTIVE SUMMARY AS THE NUMBER OF BANKRUPTCY FILINGS grows, CPAs are likely to find an increasing number of clients involved in the process. To provide timely advice, CPAs should be familiar with the current bankruptcy system as well as reforms being considered by Congress. CONGRESS CREATED THE NATIONAL BANKRUPTCY Review