The European Federation of Accountants (FEE) advises its member states to permit groups of companies to file consolidated tax returns—a practice currently not allowed in certain European nations. The FEE says it is essential that all member states endorse its proposal so none will have an unfair competitive advantage over
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WebTrust Client Base Grows
Here are the latest companies to pass WebTrust audits of their online operations: Ariba Inc., a Sunnyvale, California, provider of B2B e-commerce software, became the first company of its kind to earn WebTrust approval. Health insurer Blue Cross & Blue Shield of Wisconsin met WebTrust’s standards for protecting the privacy
Enemies Within
ometimes, the truth isn’t very pretty. Consider, for example, the American workforce. Although regarded by many as the finest in the world, it has a dark side. According to estimates, a third of American workers have stolen on the job. Many of these thefts are immaterial to the financial statements,
Accounting for Asset Retirement Obligations
EXECUTIVE SUMMARY TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement applies to retirement obligations for tangible long-lived assets. THE STATEMENT REQUIRES ENTITIES TO RECOGNIZE asset retirement obligations at their
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Exhibit 3: Depreciation Accounting for Retirement Costs (Superseded Method)
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Exhibit 4: Annual Expenses—Depreciation and Interest-Expense Accretion
Vigilant Spreadsheets
Key to Instructions To help readers follow the instructions in this article, we use two different typefaces. Boldface type is used to identify the names of icons, agendas and URLs. Sans serif type indicates commands and instructions that users should type into the computer and the names of files. ould
Wisconsin Official Named Best Government CPA
Wisconsin Controller William J. Raftery accepts the AICPA’s 2001 Outstanding CPA in Government Award from Ernest A. Almonte, chairman of the Institute’s members in government committee. The citation, this year presented in August, recognizes government CPAs who significantly improve government efficiency and effectiveness and thus enhance the profession.
Get Maximum Use From NOLs
EXECUTIVE SUMMARY TOUGH ECONOMIC TIMES BRING BUSINESS LOSSES. Taxpayers can carry these losses back and get a tax refund or carry them forward and reduce their future tax liability. Proper use of net operating losses requires careful attention to the rules in the tax code and regulations. THE IRC ALLOWS
Securities
SECURITIES The SEC responds to the financial markets’ urgent needs in the wake of the attack on the World Trade Center. For the first time, the agency uses its emergency powers to grant temporary relief from regulatory restrictions on certain activities including companies’ repurchase of their own securities, brokerage firms’
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Exhibit 1: Statement of Net Assets
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Exhibit 2: Top 10 Criteria for Vendor Selection Clients can evaluate whether a firm provides the best terms for their outsourcing needs. What is the firm offering for 1. Commitment to quality. 2. Price. 3. References/reputation. 4. Flexible contract terms. 5. Scope of resources. 6. Additional value-added capability. 7. Cultural
Innovation: The New Route to Wealth
here does new wealth come from? Like a four-year-old asking how babies are born, it’s a deceptively direct question that often disarms our conventional capacity to answer. To be sure, we’re ready with pat responses peppered with references to ROI, RONA and EVA, but these measures tell us more about
Governmental Accounting
GOVERNMENTAL ACCOUNTING The Financial Accounting and Standards Advisory Board (FASAB) requests comments on an exposure draft. Titled Accounting for National Defense PP&E and Associated Cleanup Costs, the ED amends current standards for ND property, plant and equipment by changing its definition, the method of accounting for it and the information
How to Build an Outsourcing Niche
EXECUTIVE SUMMARY THERE’S WIDER RECOGNITION OF OUTSOURCING as a tool for day-to-day management. Outsource services CPA firms provide most often are accounting and finance functions—payroll, accounts receivable/payable, financial statement preparation and analysis, budgeting, cash management, internal audit and tax—but the possibilities include CFO functions, too. REDUCING THE COST IS THE
Intermediate Sanctions on NPO Executives
EXECUTIVE SUMMARY CONTINUED IRS ENFORCEMENT AND NEW Treasury regulations are focusing increased attention on a relatively new tax on executives of charitable organizations. Sometimes called an intermediate sanction, the tax can be a serious matter for these NPO executives as well as their family members and any family-controlled entities. CONGRESS
AMT Takes Bigger Bite
TAX MATTERS Source: IRS, www.irs.gov .
Fraud
FRAUD The Treasury Department issues its 2001 National Money Laundering Strategy. As in the past, the plan warns of the negative roles lawyers, bankers and accountants can intentionally or unintentionally play in abetting criminal efforts to disguise unlawful income. But this year’s strategy also focuses on training lawyers and accountants
Translate Fractions in Excel
Q. I often need to enter fractions in my Excel worksheets. I have no problems when I enter a complex fraction like 234 , but when I enter a fraction without an integer, such as 2/3 , Excel changes it to a date—February 3 in this case. I can reformat
Hide A File
Q. Is there a way to hide a file? A. Yes, there is. Here are the steps to take: Go into Explorer and left click on the file you want to hide and click on Properties , bringing up this screen: Check the Hidden box and click on Apply and
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How to protect nonprofits from hidden fraud risks
CPAs can help not-for-profits spot the red flags of common schemes, so they can take steps to tighten controls and reduce exposure.
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
