The FDIC chairman says a forthcoming reform proposal will address the allocation of deposit insurance costs among covered institutions, the timing of premium collections and inflation’s effect on insurance benefits ( www.fdic.gov/news/news/speeches/chairman/sp07mar01.html ).
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Exhibit 1: Who Needs Profits? Company name Stock price Revenues (000s) Net income (net loss) Retained earnings/ (accumulated deficit) (000s) Market capitalization (000s) Updated stock price (000s) As of 8-23-00 6 months ending 6-30-00 As of 6-30-00 As of 6-30-00 As of 8-23-00 As of 12-15-00 iVillage 7 18
Golden Business Ideas
Just Rewards Although there’s no question that issuing rewards (money, gift certificates, vacation time) for outstanding job achievements is an effective motivational tool, such programs often break down due to one issue: Who picks the winners? Typically, the first cut is made by the manager closest to the “shop” floor—whether
Systems OK, CIOs say
Source: Survey of 1,400 companies with 100 or more employees, RHI Consulting, Menlo Park, California, www.rhic.com , 2000.
Innocent Spouse Provisions
One of the most important changes Congress introduced recently to make the tax laws more equitable was a revision of the innocent spouse rules. Since their enactment, the courts have been busy determining which taxpayers qualify for relief. Ellen Hinckley was married for more than 30 years and, for most
Institute, State Societies Form LLC
The AICPA and the State Society Network Inc. (SSNI), which comprises the societies in the 50 states, Washington, D.C., and Puerto Rico, have jointly established the Shared Services Limited Liability Corporation (SSLLC). The new venture’s initial objective is to develop a national membership database, which will be licensed to the
Employee Benefits
Researchers warn that a potential Social Security shortfall and a shift from defined-benefit to defined-contribution retirement plans will put the onus on workers to ration benefits effectively throughout their retirement years ( www.ebri.org/ibex/ib232.htm ).
Use Annuity Tables to Value Lottery Payments
In a case this year ( Gribauskas, 116 TC no. 12), the Tax Court ruled that future payments of lottery winnings must be valued for estate tax purposes using the IRC section 7520 valuation tables. This ruling specifically rejected a California district court’s 1999 decision in Shackleford Est. v. United
Auditor Independence and Tax Practitioners
EXECUTIVE SUMMARY THE SEC’s NEW AUDITOR INDEPENDENCE RULES could have a significant effect on some tax practitioners. The SEC includes tax among the non-audit services CPA firms provide. AS PROPOSED, THE SEC RULES PUT IN DOUBT whether an auditor can do anything other than review the tax provision in
Research Summary 14: Audit Committees and Auditor Selection
FOR THE PRACTICING AUDITOR—RESEARCH SUMMARIES #13 AND #14 Summary #13 Workpaper Reviews Specialized reviews don’t improve audit efficiency. BY E. MICHAEL BAMBER AND ROBERT J. RAMSAY ccounting firms spend a significant amount of time on workpaper review; audit managers devote more than 50% of their time to it. Firms
Unscrambling Word Formatting When Copying Text
Q. If there’s one thing about Word I hate, it’s the perverse way it “copies” text from one document to another. For example, if the text in the original document is formatted in 12 point Times New Roman and I copy it into another document that’s formatted differently, I’m never
What We Sell Is Between Our Ears
EXECUTIVE SUMMARY CAROLYN SECHLER, CPA. HEADS A 14-MEMBER virtual office workforce (three employees are full-time) that serves 300 clients in several states and countries. Team members are from firms having strategic alliance agreements with hers and work on a project basis. CPA services include bookkeeping, write-up, tax returns and
Financial Reporting
A FASB report de-emphasizes “new economy” considerations and recommends cooperation among national and international standard setters to improve business and financial reporting. Comments are due by July 1 ( accounting.rutgers.edu/raw/fasb/sr_new_economy.pdf ). FASB plans to issue final statements in July on business combinations and intangible assets. The new rules likely will
More Are Giving It Away
Source: IRS, www.irs.gov .
Auditing
New OCC guidance says the agency is not conducting “audits of the auditors” when it reviews banks’ external audits, but instead is assessing how and whether banks are meeting requirements ( www.aicpa.org/belt/notices.htm ).
Smart Stops on the Web
IT News From the Net http://news.dci.com This Web site offers advice and news for corporate information technology officers. A recent article in the eBusiness News section was titled “Getting Venture Capital for Your Internet Start-Up.” The site provides links to other e-business sites (see the five listed below). Consult the
Get Ready for the World of B2B
EXECUTIVE SUMMARY SINCE NO ONE REALLY KNOWS when B2B exchanges will get their act together, now is a good time for CPAs to help their employers and clients take stock of their internal systems capabilities, the quality and quantity of their technical support staff and the technological literacy of
The CPA’s Role in Fighting Money Laundering.
EXECUTIVE SUMMARY MONEY LAUNDERING HELPS ILLICIT ORGANIZATIONS by lowering their cost of capital, giving them a competitive advantage over legitimate businesses. NEITHER GOVERNMENT OFFICIALS NOR THE BUSINESS community alone has the resources to counter international money laundering by drug cartels and other organized criminal groups. ACCOUNTANTS ACTING IN A
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Exhibit 2
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Exhibit 5
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
March 6, 2026
