TOP 10 When I… Uh huh. If I can do X, then Y will result… Big if. It should… Yeah, it should, but will it? I could… Yes, but will you? If I could just… Nah, it’s not that easy. Done deal… No deal is done until the client’s check
(Estate) Size Matters
Source: IRS, www.irs.gov .
Help Wanted
Source: Survey of 1,209 middle and high-net-worth pre- and post-retirees, New York Life Investment Management LLC, Parsippany, N.J., www.nylim.com , 2005.
A Better Way
In the December 2005 item “How to Fix a Scrambled Registry,” a reader asked how to repair a Word file that refused to open in Word. Since I assumed a worst-case situation, in which the registry was scrambled and thus all the Word files were similarly afflicted, I offered a
The New World of Auditing Standards
A conversation with the ASB. ver the past several years the Sarbanes-Oxley Act and other events have dramatically affected the setting of auditing standards and the focus of the audit process. While the act requires auditors of public companies—the issuers—to follow the Public Company Accounting Oversight Board’s (PCAOB) auditing standards,
Managing Meetings
Here are some tips for planning great meetings, holding down costs and establishing processes to protect firms and companies from the unique temptations that meetings budgets offer to those who plan and sponsor them.
Home Sweet Home
This article explores how taxpayers should compute the tax basis in their homes and the records they should maintain to avoid the risk of additional tax, interest and penalties.
Managing Meetings
EXECUTIVE SUMMARY Every good meeting has three elements: an agenda, a site that’s conducive to the meeting objectives and a contract that guarantees you get what you need on the budget you expect. If you are planning many meetings in the same city or have a large transient travel budget,
Financial Literacy
A survey by the AICPA and Weekly Reader Corp., an educational publisher, found that many “tweenagers”—children aged 9 to 12—have surprisingly prudent fiscal habits. Of the more than 1,200 youngsters polled in the January 2006 study, 56% earned a weekly allowance, but only 18% spent it all. More than half
Excel Shortcuts
Stanley Zarowin, a former JofA senior editor, is now a contributing editor. His e-mail address is zarowin@mindspring.com . Do you have technology questions for this column? Or, after reading an answer, do you have a better solution? Send them to contributing editor Stanley Zarowin via e-mail at zarowin@mindspring.com or regular
Start Your Own Practice
EXECUTIVE SUMMARY A decade of declining enrollment in college accounting programs during the 1990s combined with passage of the Sarbanes-Oxley Act in 2002 and the new financial reporting and internal control demands on publicly traded companies have created a sellers’ market for CPAs. That makes it a good time to
Convert Hyperlinks to Text
I often receive documents that contain many hyperlinks—links to Web sites and e-mail addresses. I have to go through the entire document and convert the hyperlinks to regular text one at a time. Is there a faster way to do that? For those who aren’t familiar with hyperlink elimination, here’s
Accounting
The Financial Accounting Standards Board and the International Accounting Standards Board published a memorandum of understanding that reaffirms their goal of jointly developing high-quality, common accounting standards to facilitate cross-border financial reporting by removing impediments such as the requirement that foreign issuers registered with the SEC reconcile their IFRS-based financial
Use Office Clipboard to Control Selective Copying
I can copy a word or a group of contiguous words and paste it in another location in a document. But is there a way to copy a bunch of words in different parts of the document and then selectively paste them in different places? Say hello to the Office
Best Practices in EBP Audits
EXECUTIVE SUMMARY The Department of Labor requires employee benefit plan (EBP) audits for employers with more than 100 eligible plan participants and some smaller plans. EBPs include defined-benefit, defined-contribution, 401(k) and ESOP, health and welfare, and vacation and severance plans sponsored by a single company or several employers under common
Anchor an Excel Range without $ Signs
Here’s a tip sent by reader Mike Hendricks, CPA, cost accounting manager of Yarnell Ice Cream Co., Searcy, Ark.: If you have a range of data you need to keep together—for instance, a lookup table—you can anchor it without using dollar signs, such as in $A$1:$Z$50 . Do this instead:
Happy Employees Come to Work
BUSINESS TIP Want to keep employees at their desks every day? Try boosting morale. Organizations with good or very good employee morale experienced fewer unscheduled absences (1.5%) compared with those where morale was poor or fair (3.2%), according to the 2005 “CCH Unscheduled Absence Survey.”
Know When to Fold ’Em
ON THE RECORD Sometimes tough management requires being the one who calls a halt to a direction, a project, a process or any action moving forward for the wrong reason. Source: Tough Management: The 7 Ways to Make Tough Decisions Easier, Deliver the Numbers, and Grow Business in Good Times
Privacy
The AICPA’s board of directors approved a document that replaces the initial Privacy Framework developed by the AICPA and the Canadian Institute of Chartered Accountants (CICA). The new guidance, “Generally Accepted Privacy Principles (GAPP),” is based on the premise that good privacy practices are essential to effective corporate governance and
Modified Statements for NPEs
I fully agree with the sentiments expressed in the letter “ Different Standards for Nonpublic Companies? ” ( JofA , Jan.06, page 11). I have been financing nonpublic businesses for banks and finance companies and rely on financial statements to make credit decisions. In particular I agree that the idea
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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.
