COMPENSATION SITES Plan for Tomorrow Today www.adp401k.com This retirement services site offers detailed explanations of various plans—defined contributions, 401(k) safe harbors, SIMPLE IRAs and executive deferred compensation. It also provides users with overviews and information about the requirements for and contributions to such plans. A Web-Based Watchdog www.aflcio.org/paywatch/index.htm Although a
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New Value in Old Policies
any clients have life insurance policies they view as unnecessary because they no longer meet their original need. As estate tax rules change and the policies clients purchased to pay these taxes become unnecessary, this trend is likely to increase. JE McGowan Consulting estimates the potential secondary market for life
Bring the Real World to the Classroom
EXECUTIVE SUMMARY SOME PROFESSORS ARE BRINGING practitioners into the college classroom to talk to their students about the profession and its opportunities. Here are some tips about how such exposure can double as tailor-made recruiting. CPA GUEST SPEAKERS CAN demonstrate professional diversity and encourage students to stay with an accounting
Put A 10-Key Calculator In Excel
Q. Okay, so Excel is a whiz-bang spreadsheet calculator. But, frankly, when I’m working on a complex spreadsheet there are times I’d like to have immediate access to an old-fashioned 10-key calculator rather than having to stop to figure out some Excel formula. Is there a way to get an
On Clients and Their Files
On Clients and Their Files After reading “…And Nothing But the Truth: Uncovering Fraudulent Disclosures” ( JofA, July01, page 47), I take exception to the implications regarding clients who resist allowing auditors open access to files. The article admitted that a client has the right to refuse free access and
Research Summary 22: Haphazard Sampling and Selection Bias
verybody has a favorite color and season—preferences that seem innate, always defying reason. Auditors are no different when it comes to haphazard sampling, a process in which—ideally—they choose samples without regard to size, shape, location or other physical characteristics. Experts have expressed concern about bias in such sampling and, as
Top 5 Pay Even More
TAX MATTERS Source: Tax Foundation, www.taxfoundation.org .
Government Accounting and Auditing
GOVERNMENT ACCOUNTING AND AUDITING The IRS needs to improve its accounting procedures and internal controls, says the GAO. In audit findings, the watchdog agency cited the IRS’s inaccuracy in reporting costs for reimbursable activities, lack of procedures to record working-capital-fund prepaid expenses, use in financial reports of unverified financial information
The Uncertainty of Death and Taxes
EXECUTIVE SUMMARY CONGRESS HAS APPROVED SIGNIFICANT TRANSFER tax changes as of January 1, 2002. The act repeals estate and generation-skipping transfer taxes in 2010. In the interim, it phases in lower rates and higher exemptions. However, the full estate tax repeal applies only in 2010. Additional legislation will be needed
FYI
FYI In order to modernize the profession’s rules on independence, the AICPA professional ethics executive committee adopts revisions to the financial interest and family relationship provisions under rule 101, Independence . The new requirements, which take an engagement-team-focused approach to independence, apply to all parties that are in a position
People In The News
PEOPLE IN THE NEWS Two CPAs Honored for Lifetime Achievements The Accounting Hall of Fame inducted Nicholas Dopuch and James Don Edwards into its ranks during the American Accounting Association’s annual meeting in August. Dopuch, the Moog professor of accounting at Washington University’s Olin School of Business in St. Louis,
Research Summary 21: Audit Committee Appointments
oes the emphasis on not appointing to an audit committee corporate board directors who have significant relationships to a company obscure consideration of other characteristics that also may be important? Independence aside, a director’s ability and willingness to perform well may ride on whether he or she has equity investments
International
INTERNATIONAL South Africa becomes the first country to say it will base its public sector accounting practices on the International Federation of Accountants’ public sector accounting standards (IPSASs). As support for the standards rises—the Organisation for Economic Development and Cooperation is basing its 2001 financial statements on them—IFAC’s public sector
Italy Joins the New Global Credential Steering Committee
An international body of major accountancy organizations that is exploring the creation of a new global business credential has added its first European member. The Consiglio Nazionale dei Dottori Commercialisti and the Consiglio Nazionale dei Ragionieri e Periti Commerciali, which represent more than 90,000 Italian accountants, are merging. The newly
gbc_ex2
Exhibit 2: Vision CPA significantly boosts interest in pursuing a CPA Interest doubles among nonaccounting business majors and rises dramatically among the undeclared. Before description of Vision CPA (i.e., based on preconceptions) After description (i.e., based on the Vision CPA)
Some Get Incorrect Refund Notices
TAX NEWS Some Get Incorrect Refund Notices As a result of the Economic Growth and Tax Relief Reconciliation Act of 2001, the IRS announced refunds would go to anyone who paid taxes in 2000 and sent out approximately 112 million notices. Approximately 523,000 taxpayers, the IRS said in July, were
gbc_ex5
Exhibit 5: The global business credential represents an opportunity to keep students in the fold who would otherwise be lost While the “market” for a combined credential is strongest in the existing core—accounting majors—the minimal loss of accounting majors is more than offset by potential gains elsewhere. Question: What would
Why We Oppose the CPA Credential
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Why We Oppose the Proposed Global Business Credential BY HERBERT SCHOENFELD AND ROBERT GOLDFARB SCHOENFELD, MENDELSOHN, GOLDFARB LLP, N.Y., CERTIFIED PUBLIC ACCOUNTANTS Only a complete understanding of XYZ will result in an intelligent vote. ur relationship with the AICPA has been a good
Accounting
For news from the AICPA and state societies, visit www.cpa2biz.com , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites. ACCOUNTING Following its July decision to ban the pooling-of-interests method of accounting, FASB issues Statement no. 141, Business Combinations,
Replace The Missing Close Icon in Excel
Q. My version of Word contains a Close icon (for closing an open file). But in Excel, there’s just the word Close —no icon. What’s up? Do I have an economy version of Excel—one with limited icons? A. No, all copies of Excel are that way. It must be an
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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
