Under IRC section 1041, taxpayers recognize no gain or loss on property transfers between spouses during marriage or related to a divorce. The section’s intent is to treat spouses as a single economic unit and defer (but not eliminate) any tax on appreciation until property is transferred to a third
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Ways To Stop (Or At Least Reduce) Spam
Q. I get loads of junk mail and it jams my inbox. Is there some way to stop it? A. The solution to that problem may be as elusive as the design of an antigravity, perpetual-motion machine. Seriously, some of the best computer minds are struggling with the problem. Unfortunately,
Shortcuts
Shortcuts Remove a Toolbar Button: Hold down the Alt key as you click on the button you want removed and drag it off the toolbar. Internet Explorer: Alt+D puts your cursor into the address bar; there’s no need to use the mouse. For many Web sites, you don’t even have
Management Is Responsible, Too
he audit standard issued by the AICPA auditing standards board (ASB) in October 2002—SAS no. 99, Consideration of Fraud in a Financial Statement Audit —does something no audit standard has ever done. It contains a document titled Management Antifraud Programs and Controls: Guidance to Help Prevent, Deter, and Detect Fraud,
Takes Issue With Report Cited
It is more than disappointing the JofA chose to publish unsubstantiated allegations made against ExxonMobil in a study by Claros Consulting (“ Is Disregard for the Environment Bad Business? ” JofA , Jan.03, page 55), especially without seeking our comment or response. At the very least this does not represent
Uncle Sam Empties His Pockets
Source: IRS, www.irs.gov .
Are Education Appropriation Levels Appropriate?
Source: Tax Policy Center, www.taxpolicycenter.org .
Tranforming ZIP Codes To Five Digits From Nine
Q. My company’s mailing list, which is in Excel, has thousands of names and addresses, and many of these contacts contain a nine-digit ZIP code. My manager wants to convert those with a nine-digit code to a five-digit code. Short of going through the list manually and cutting off those
Letters To The Editor
Letters to the Editor The JofA encourages readers to write letters on important professional issues in addition to comments on published articles. Because space is limited, letters submitted for publication should be no longer than 500 words. Please include telephone and fax numbers. JofA e-mail address: JOAED@aicpa.org .
Financial Reporting
The AICPA releases an online tool kit ( www.aicpa.org/members/div/mcs/vm_toolkit.asp ) to facilitate the performance of valuations related to business combinations and to acquired goodwill and other intangible assets, as discussed in FASB Statement nos. 141 and 142, respectively. In addition to practical information on performing fair value measurement engagements for
A Quick Way To Add In Excel
A. Yes, and the keyboard approach is much, much quicker. Just click on a cell at the bottom of any column you want to add (it can even be many cells below the last number), hold down the Alt key, type in = and then press Enter.
Smart Stops on the Web
SMART STOPS ON THE WEB IT Lessons and Links www.toejumper.net Dedicated to offering troubleshooting guidance, this Web site provides information on crashproofing and maintaining PCs, as well as speeding up computer functions. CPAs also can link to search engines, business advice, new product information and Toejumper’s newsletter archives. Tune It.
Timing Is Everything
Source: Survey of 1,400 CFOs, Accountemps, Menlo Park, California, www.accountemps.com , 2003.
More About Payroll Fraud
I read with interest “ Keep Ghosts Off the Payroll ” ( JofA , Dec.02, page 77) and would like to share what our firm discovered a number of years ago while conducting some basic auditing procedures for a local business. The payroll clerk in this particular company was a
Working Around A Broken Mouse
SUBSTITUTE MOUSE Q. Is there a way to operate the mouse cursor if my mouse fails? I’ve had the experience twice when I was at a client’s office with my laptop: In one case the mouse button broke, and in the other, the mouse software malfunctioned. A. I do know
FYI
The AICPA and the Association of Certified Fraud Examiners release an interactive CD-ROM CPE course, “Fraud and the CPA,” that can be ordered at www.cpa2biz.com/cs2000/products . It features a series of presentations by fraud-detection-and-prevention specialists who explain how CPAs can help corporations spot and thwart fraud. The Institute releases Consulting
Accounting Educators Honored
Jay C. Thibodeau, Ulric J. Gelinas and Elliott S. Levy, professors at Bentley College in Waltham, Massachusetts, won the American Accounting Association’s first Innovation in Auditing Assurance Education Award, which recognized them for developing a case study that introduced students to computer-assisted auditing techniques.
Auditor Should Resign
“ The Padding That Hurts ” ( JofA , Feb.03, page 67) was an excellent discussion of the reactions of various parties to fraud. However, I believe an independent auditor should resign from the audit of any company such as the one described. The external auditor knew a major officer
Hiding Behind E-Mail?
Source: Nationwide survey of 150 executives, Accountemps, Menlo Park, California, www.accountemps.com , 2002.
CFOs for Hire
EXECUTIVE SUMMARY FOR SOME CPAs, A CAREER AS A TEMPORARY CFO may bring financial rewards, professional challenges and career flexibility. A growing number of placement companies have sprung up to help these executives find interim assignments, which can sometimes lead to permanent jobs. COMPANIES TYPICALLY HIRE AN INTERIM CFO for
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