A FASAB proposed standard would eliminate the requirement to report changes in certain receivables from the public as a resource on the statement of financing. Comments are due by June 8 ( www.financenet.gov/financenet/fed/fasab/pdf/ed_para80.pdf ). New FASAB guidance amends standards for direct loans and loan guarantees, effective for periods beginning after
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Exhibit 4
FYI
A commission of business and government leaders will propose ways to make the Social Security program more modern and fiscally sound ( www.ssa.gov/ssacommission.htm ). The SEC launches an online margin calculator that helps an investor estimate the likelihood of his or her broker’s issuing a margin call—for insufficient account equity—in
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Exhibit 3
International
Canada’s securities regulator requests opinions on the pros and cons of allowing Canadian and foreign equity issuers to file financial statements according to U.S. GAAP or international accounting standards. Comments are due by June 30 ( www.iasc. org.uk/news/cen8_195.htm ). IFAC exposes a draft statement on strengthening the relationship between bank
An Easy Way To Count The Blanks
Q. I frequently have to count the number of empty cells in a spreadsheet. Do I need to put some identification mark in those cells or can Excel just count the blanks? A. There’s no need to specially designate empty cells. Excel has a special formula that counts the blanks.
German, Austrians Get Top Exam Honors
Werner Ellmauer of Munich, Germany, won the Elijah Watt Sells gold medal by earning the highest overall score on the November 2000 Uniform CPA Examination, conducted by the AICPA. A total of 62,000 candidates took the exam. Ellmauer, who graduated from Johannes Kepler University with a master’s degree in social
Outsourcing a 401(k) Plan
EMPLOYEE BENEFITS How to make the right choices. Outsourcing a 401(k) Plan BY MAUREEN NEVIN DUFFY EXECUTIVE SUMMARY WITH 401(k) BALANCES GROWING, SMALL AND MEDIUM- sized companies are finding themselves burdened with myriad responsibilities of operating a retirement plan for employees. Many companies are choosing to outsource the plan to
Passive Loss Carryovers—A Reversal.
The complexity of the tax law has resulted in numerous instances of apparent contradictions between Internal Revenue Code sections. In an effort to eliminate the conflict, the courts usually try to apply some general rules of code construction. In a case of first impression (an issue it had never decided
Institute Taps Pugliese for Member Innovation VP
Anthony Pugliese recently was promoted to vice-president, member innovation. In this newly created post, he will be responsible for research, development and delivery of new services. Pugliese will oversee information technology, personal financial planning, assurance services, consulting services, accreditations, the Center for Investment Advisory Services and the PCPS and Group
Advance Agreements Help Businesses Avoid Costly Audits
Business taxpayers can now benefit from yet another alternative tax issue resolution approach offered by the IRS. The new tool is the pre-filing agreement (PFA) program, which lets a taxpayer request an advance IRS examination of specific issues before filing a tax return. Revenue procedure 2001-22, dated January 22, 2001,
Rainey Named Strategic Alliances VP
The Institute appointed Valerie Rainey, who served until recently as senior manager, e-commerce, in the tax division, to the newly created position of vice-president, strategic alliances. In that role, Rainey will manage the AICPA’s current strategic relationships with cpa2biz and Shared Services, LLC, a consortium of state CPA societies. In
Avoid Taxes in Liquidation
EXECUTIVE SUMMARY THE IRS SAYS DISTRIBUTIONS of customer-based intangibles to shareholders are taxable. When a firm or corporation distributes to its shareholders all of its assets, both tangible and intangible, and ceases doing business, the IRS says there is a taxable distribution of its intangible goodwill. THE CRITICAL ISSUE FOR
Government
SEC to host roundtable discussions on regulating financial portals, global markets ( www.sec.gov/news/speech/spch465.htm ).
Entering Dates And Time In Excel
Q. Is there a quick way to enter dates and times in an Excel spreadsheet? A. To enter the current date, select a cell and press Ctrl+; (that’s Ctrl and then the semicolon). To enter the current time, use Ctrl+: (the colon). These shortcuts work even when you are entering
Employee Health Insurance Costs to Jump
Employers will pay more this year for their workers’ health insurance. The cost of prescription drug coverage is expected to increase nearly 20%. Dental insurance premiums, however, will rise only moderately. Medical coverage* Prescription drug coverage* Dental coverage‡ * For active employees and retirees under
CPA Exam Graders Needed
CPA Exam Graders Needed The AICPA is seeking CPAs and attorneys to assist in grading future CPA exams. The Uniform CPA Examination is given twice a year—in May and November. The grading period begins two to three weeks after the exam is given and continues for about six weeks. Graders
Compliance Costs
Source: Tax Foundation, www.TaxFoundation.org.
Home Is Where the Deduction Is
Source: IRS, www.irs.gov .
CPAs Speak Up on New Global Credential
EXECUTIVE SUMMARY THE CONCEPT OF A NEW GLOBAL CREDENTIAL grew out of the AICPA’s efforts to uncover opportunities to help members continue to excel in a competitive marketplace. STUDENTS SEE XYZ AS A COMPLEMENT to existing professions, rather than as a replacement. The concept of a combined XYZ and CPA
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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
