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.
 
The AICPA in May released a practice aid, Valuation of Privately-Held-Company Equity Securities Issued as Compensation, that provides useful information on measuring the cost of such transactions and properly reflecting them in company financial statements. Copies (product no. 006617JA) are available from the AICPA at 888-777-7077 or www.cpa2biz.com .

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A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.