Consolidated Carryback of Product Liability Expenses The U.S. Supreme Court resolved a conflict between the Fourth and Sixth Circuit appeals courts in a case involving the 10-year carryback of product liability losses under IRC section 172(b)(1) for an affiliated group filing a consolidated return. In 2000, in Intermet Corp., 209
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Pro…What Advocates Say
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL The range of services required by our clients has increased dramatically in recent years. I feel the proposed XYZ designation provides our profession with an enhanced opportunity to access the fast-growing consultancy work available in areas such as business strategy and IT. If
Research Summary 19: Detection of Fraudulent Financial Reporting
nternal auditors are responsible for pursuing perpetrators of fraud every day. They always, according to the Institute of Internal Auditors’ Standards for the Professional Practice of Internal Auditing, should be alert to the possibility of wrongdoing and have sufficient knowledge to recognize potential fraud. Researchers found company managers sometimes have
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Exhibit 4: Substantial numbers would at least consider pursuing the global business credential Question: How likely would you be to pursue this profession?
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Exhibit 3: The appeal of the global business credential is significant …especially among accounting and other business majors. Question: Now that you know more about this profession, how appealing do you find this concept?
“It’s Up To You.”
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL “It’s Up to You” Others see new competitive asset. y the time the debate subsides and the information campaign ends, millions of words will have been written and spoken about the global business credential—more than 12,000 of them in this insert alone. Powerful
Adding Value to the Profession: The Proposed Global Business Credential
n extraordinary opportunity is before us. We are now considering a credential that adds enormous value to our profession. Its holders can be characterized as rooted in strategy, facilitators of organizational change, savvy in performance measurement systems, entrepreneurial in nature, globally aware and grounded in knowledge integration. They will
Market Research: Data Suggest Demand for Global Business Credential Skills
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Market Research: Data Suggest Demand for Global Business Credential Skills BY KEN GERBETZ AND ROBERT S. SCALEA, STRATEGIC CONSULTING, INTERPUBLIC GROUP OF COMPANIES arket research on the global business credential concept began in 1999. A consortium of international accounting organizations conducted qualitative and
Get Excel to Remove The Dreaded #DIV/0 Error
Q. I prepare model Excel spreadsheets for different groups of people who generally are not—how should I say it—financially or spreadsheet nimble. So when they see that dreaded #DIV/0 error they panic, even though I’ve explained to them that all it means is that Excel (or anyone else, for that
Contigency Fees Revisited
Contingency Fees Revisited The dispute over the proper taxation of contingency fees paid to an attorney continues. Several circuit courts have maintained the amounts were not taxable. A recent case expanded the exclusion. Mattie Foster won a verdict in an Alabama state court of $50,000 compensatory damages and $1 million
Should CPAs Lead the Way?
SPECIAL REPORT: THE GLOBAL BUSINESS CREDENTIAL Should CPAs Lead the Way? A call to objectivity. bjectivity: It is the century-old hallmark of the certified public accountant. It has been re-affirmed as a core value in the grassroots vision process. It is essential for CPAs as they assess the viability
Save a Building, Save on Taxes
Save a Building, Save on Taxes The National Park Service, part of the U.S. Department of the Interior, has released a report, Federal Tax Incentives for Rehabilitating Historic Buildings, that summarizes the positive effects of the historic preservation program started 25 years ago. The Tax Reform Act of 1976 allowed
IRS Challenges to FLPs
s tools for saving estate and gift taxes and, at the same time, retaining family control over assets, family limited partnerships are extremely popular. These partnerships enable older family members to maintain control over property and provide them with estate and gift tax savings through the use of discounts and
Fraud
FRAUD The Treasury reports a sharp rise in the frequency of identity theft—for example, fraudulent use of Social Security numbers to obtain loans for buying luxury cars—and offers tips on how to detect suspicious financial activity and notify the appropriate authorities ( www.treas.gov/fincen/sarreview06182001.pdf ; www.treas.gov/fincen/sarreview2issue4web.pdf )
Say Good-Bye to Pooling and Goodwill Amortization
EXECUTIVE SUMMARY NEW FASB STANDARDS prohibit the pooling-of-interests method of accounting for business combinations and require a purchase accounting method that does not allow goodwill amortization. The standards are a radical change, and management accountants, auditors and financial executives must understand and work with a very different accounting process.
IT and the Audit
EXECUTIVE SUMMARY TO HELP AUDITORS COPE WITH THE ISSUES surrounding the explosive growth in information technology use, the ASB issued SAS no. 94, The Effect of Information Technology on the Auditor’s Consideration of Internal Control in a Financial Statement Audit. SAS NO. 94 PROVIDES AUDITORS WITH GUIDANCE on IT’s
Create Worksheet Groups For Fast Formatting
» Key to Instructions To help readers follow the instructions in this article, we used two different typefaces: Boldface type is used to identify the names of icons, agendas and URLs. Sans serif type shows the names of files and the names of commands and instructions that users should type into
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Exhibit 2
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Exhibit 5
Key Business Insurance Solutions
nsurance isn’t only the purview of public practice CPAs. Companies use insurance to meet a wide variety of business needs. For example, in most corporations, proper risk management for the company’s property and employees is the responsibility of the CFO. And more than 70% of Fortune 500 companies have
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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
