The SEC adopted amendments to give regulatory relief to mutual funds in enforcing prohibitions against short-term trading. In October the SEC issued final amendments to a rule requiring funds to negotiate agreements with all broker-dealers or other intermediaries holding shares on behalf of other investors in an “omnibus account.”
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Government Accounting
The Governmental Accounting Standards Board (GASB) issued Statement no. 48, Sales and Pledges of Receivables and Future Revenues and Intra-Entity Transfers of Assets and Future Revenues ( http://gasbpubs.stores.yahoo.net/gs48.html ; also see Official Releases, page 97). The statement establishes criteria for governments to determine whether the proceeds from certain transactions—such
Need More ZZZs
Nearly 30% of working adults said they missed work or made errors at work because of problems sleeping. Seventy-five percent of all adults reported at least one symptom of a sleep problem, although most said they could live with it. Among adults with sleep partners, 77% said that person kept
New Rules for Individuals Working Abroad
CHANGES TO INCOME AND HOUSING EXCLUSIONS New Rules for Individuals Working Abroad n general, U.S. citizens are subject to federal income tax on all their income, wherever earned. U.S. citizens or residents living abroad have been allowed to exclude certain foreign earned income and housing costs from taxable income, regardless
Ethics Rules Get Tighter
EXECUTIVE SUMMARY The PCAOB in April 2006 issued a set of seven rules for auditors of public companies. The rules focus primarily on tax services, but also address contingent fees, audit committee preapproval of tax services and fundamental requirements for ethics and independence. Individuals who contribute directly and substantially to
Hands-Off Investors
ar from being day traders, most participants in 401(k) plans are content to sit tight and leave their allocations alone, according to a Wharton School of Business study. Eighty percent made no trades in two years, and 10% made only a single trade, researchers found. The study analyzed retirement accounts
Use Color Highlight As A Document Guide
I’ve just updated a huge office instruction manual and I want the staff to review only the parts I’ve changed. I can’t think of an easy way to accomplish that. Any ideas? I’d suggest using Word’s Highlight tool as a graphic guide. It’s not only effective, it’s easy to use.
Practice Management
Illinois temporarily suspended a provision of a law that would have required CPAs licensed in other states to register in Illinois even to do something as simple as complete an Illinois state tax return for a client, regardless of whether the CPA or client ever entered the state. In
Global Networking Tips
Doing business in a foreign country can be tricky. One wrong move or mistranslation by you or your clients can poison vital relationships. Here are three points to remember: 1 | Know your business card etiquette. Exchanging business cards is an integral part of business relations in some cultures. For
Dial a Forecast
usiness forecasts typically are based on historical information that is modeled by current conditions and anticipated futures. But to make the forecasting exercise more useful for planning, accountants can tinker further with the numbers by calculating how even an unanticipated future will change various metrics. This article will describe a
Smart Stops on the Web
SMALL OFFICE/HOME OFFICE (SOHO) SITES By the Numbers www.businessknowhow.com Could your small office/home office clients use four tips for taking the terror out of giving presentations or the seven secrets of Internet marketing? Could you? Go to this e-stop to get the lowdown, plus eight ways to market your home
G.K. Chesterton Quote
AS QUOTED “Price is a crazy and incalculable thing, while value is an intrinsic and indestructible thing.” —G.K. Chesterton
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 the computer.
Out of Balance
ore than half (53%) of business executives had not achieved a satisfactory work/life balance, according to a survey by the Association of Executive Search Consultants (AESC). And in a sign that things may not get much better soon, 46% said their work/life balance worsened in the past five years. A
News from the AICPA and State Societies
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 Never-Stop-Learning Department
In the August 2006 issue (page 80) I said that selecting Current page in the Print command only prints the page showing on the screen. Not so, advises Roger Winslett, a CPA from Marietta, Ga. Current Page will print the page where the cursor is positioned , and that’s not
You’ve Got (Someone Peeking At Your) E-mail
If you work for a company with more than 1,000 employees, there’s a better-than-even chance your outbound e-mail is being monitored for rule-breaking, which can include such things as leaked trade secrets, improperly disclosed financial information or offensive words. That information, from a Forrester Consulting survey, was reported by the
Unlucky Investor Traps
1 | Affinity fraud. Con artists target members of religious, political or ethnic groups. 2 | Churning. Unethical securities professionals make unnecessary or excessive trades to generate commissions. 3 | Equity-indexed certificates of deposit. In a volatile market, these uninsured CDs pose liquidity problems and are not suitable for most
Income Recognition
TAX CASE he courts have uniformly held that generally accepted accounting principles (GAAP) are not determinative of tax rules. Whether a taxpayer recognized income for financial statement purposes is irrelevant in deciding whether he or she must report the income on a tax return. The Ninth Circuit Court of Appeals
Banking
Federal financial regulatory agencies issued final guidance on risks posed by residential mortgage products that allow borrowers to defer principal and sometimes interest payments. Often referred to as “nontraditional” or “alternative” mortgages, these loans typically allow a borrower to trade lower payments early in the mortgage for higher payments
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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
