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Companies Focus on Derivatives Compliance

   BY THE NUMBERS Companies Focus on Derivatives Compliance FASB Statement no.133, Accounting for Derivative Instruments and Hedging Activities, issued in June 1998, requires that companies report their derivatives holdings at fair value and disclose the purpose and effectiveness of their hedging strategy. For most, the standard took effect January

Explain the Difference

In “So That’s Why It’s Called a Pyramid Scheme” ( JofA, Oct.00, page 91) , the article states that, “during a review and compilation engagement for a small client….” Will you please explain what a review and compilation engagement is? I thought we only had three levels of engagements and

More On Spreadsheet Headers

If you tried to follow Monika Smith’s alternative way to create a faux header in Excel ( JofA, Oct.00, page 122 ) and it didn’t work, don’t blame yourself or Smith. I misstated one small—but significant—instruction. In the final step, where you fill in the info-type box, don’t enter the

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Exhibit 4  

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Exhibit 3  

The Tax Court’s Enhanced Power to Help Innocent Spouses

igning a joint return can be a bit like walking into a minefield. For example, a taxpayer, James, left preparation of their joint 2000 federal income tax return to his wife, Joanne. Unknown to him, Joanne had won $200,000 in a state lottery in May 2000, put the money in

International

   IASC Provides Guidance on Financial Instruments  In September the IASC issued guidance on the implementation of International Accounting Standard no. 39, Financial Instruments: Recognition and Measurement. IAS no. 39, which was released in March 1999 (see “IASC Puts Derivatives on the Balance Sheet” July99, JofA, page 20) , required

Questions Title

“Facing a Hobson’s Choice” ( JofA, Sept.00, page 57) was an excellent and timely article. The importance of making decisions in connection with IRA distributions and beneficiaries cannot be overstated, and CPAs are taking on awesome responsibilities in this area. Thanks for publishing the story. I did find the title

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Exhibit 2  

After Regulation FD: Talking to Your Constituents

EXECUTIVE SUMMARY NEW SEC REGULATION FD CAN HAVE a significant impact on the way information about public companies is disseminated. The rule intends to abolish selective disclosure practices and level the playing field for investors. Since regulation FD increases public companies’ financial communication responsibilities, CPAs will be affected by it.

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Exhibit 5  

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Exhibit11  

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Exhibit16  

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Exhibit 20  

On the Uniform CPA Exam

I just took the uniform CPA exam, and I believe I passed all four parts on the first try. I feel it is a great equalizer and allows people, such as myself, who have attended so-called “third-tier” educational institutions to demonstrate the knowledge we obtained rather than the amount we

Government Accounting

FASAB ED Addresses Taxes-Receivable Standard In November the Federal Accounting Standards Advisory Board released an exposure draft, Elimination of Disclosures Related to Tax Revenue Transactions by the Internal Revenue Service, Customs, and Others, Amending Statement of Federal Financial Accounting Standards No. 7, Accounting for Revenue and Other Financing Sources, that

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Exhibit18  

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Exhibit 26  

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Exhibit19  

SPONSORED REPORT

Tools for finding CAS clients

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 31, 2026

Considerations for intergenerational split-dollar arrangements

March 6, 2026

Navigating the Form 1099-DA reporting maze