A semiannual AICPA survey of CPAs serving as senior corporate executives revealed they have a mostly favorable outlook for the U.S. economy in 2006 ( http://fmcenter.aicpa.org/NR/rdonlyres/ ). Sixty percent of respondents believed that the economy will continue to improve, and 74% of them had high hopes for their own organization’s
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The magazines
Options Valuation Models
I read with interest “ How to Excel at Options Valuation ” ( JofA , Dec. 05, page 57). It appears that the strength of the binomial model presented is inversely related to the number of assumptions made. In the example given in the article, for four years of stock
International
The International Accounting Standards Board (IASB) published an ED to amend International Financial Reporting Standard (IFRS) 2, Share-based Payment ( www.iasb.org ) by stipulating that the vesting conditions an individual or organization must satisfy to receive shares concern only specified periods of service or required performance targets. It also requires
Highlights
The Treasury Department and the IRS proposed amendments to Circular 230, which governs tax professionals practicing before the IRS ( www.irs.gov/newsroom/article/0,,id=154248,00.html). The revisions would modify the definition of practice, eligibility for enrollment as an agent, unenrolled practice and the rules concerning contingent fees, conflicts of interest, standards with respect to
Document Image Writer: The “Printer” You Never Knew You Had
I use Word to make up multicolor brochures for my firm, then check that the makeup and colors are just right by using Print Preview . While the test image it produces is OK, it doesn’t give me quite the precision I need to feel comfortable printing several hundred copies
Business Bookshelf
Business Valuation and Taxes: Procedure, Law, and Perspective by David Laro and Shannon P. Pratt 450 pages; hardcover; $85.00 John Wiley & Sons, Inc. Hoboken, New Jersey, 2005 ny CPA/ABV preparing a business valuation (BV) has undoubtedly heard of U.S. Tax Court Judge David Laro and valuation pioneer Shannon Pratt.
Avoid Performance Negativism
GOLDEN BUSINESS IDEAS fter you give a subordinate a poor performance review, beware of the ensuing silence. Wise managers keep the communication lines open by offering suggestions for improvement and setting short-term goals with frequent review dates. That sort of response sends a message to the unhappy employee: The manager
Options and the Deferred Tax Bite
Just when you thought it couldn’t get any more complicated. EXECUTIVE SUMMARY Implementation of FASB Statement no. 123(R) goes beyond selecting a method to value employee stock options. CPAs also must help companies make the necessary tax accounting adjustments to properly track the tax benefits from stock-based compensation. Statement no.
Financial Reporting
FASB issued as final two staff positions—FSP SOP 94-6-1, Terms of Loan Products That May Give Rise to a Concentration of Credit Risk, and FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution
Auditing
The ASB has approved for issuance eight statements on auditing standards (SASs) for audits of nonissuers related to risk assessment. These standards address the auditor’s assessment of the risk of material misstatements in financial statement audits and the design of audit procedures responsive to such risks ( www.aicpa.org/members/div/auditstd/2005_06_15_risk_assess.htm ). The
Time for a Coffee Break?
SURVEY SAVVY What’s the least productive time of day for employees? Accountemps put the question to 150 senior executives from the nation’s 1,000 largest companies. Of those surveyed, 33% said employee output was the lowest from 4 p.m. to 6 p.m., while 29% cited noon to 2 p.m. as the
Well, Virginia…There May Be a Real Estate Bubble.
SURVEY SAVVY t least according to a recent survey by ThinkGlink.com. With the value of U.S. residential real estate reaching more than $18.6 trillion, many Americans are sensitive to the question of whether there really is a bubble. Some 66.3% of survey respondents said they believed a bubble exists. But
Smart Stops on the Web
SMALL BUSINESS SITES Be Your Own Boss www.abcsmallbiz.com CPAs thinking of going out on their own should bookmark this URL for start-up basics including information on Small Business Administration funding and venture capital. Find a nine-part series on how to write a winning business plan, links to state business assistance
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GAAP
FASB is codifying U.S. GAAP literature for nongovernment entities into a single authoritative reference that will supersede all existing standards and be available online. The board is seeking researchers’ feedback on the capabilities such a system should have ( www.fasb.org ).
Help Wanted
SURVEY SAVVY Newspapers, surprisingly, are still the top choice for job hunters. A December survey from the Conference Board found that three out of four people checked the print ads first when looking for employment. The Internet ran a close second; three out of five said they went online to
FYI
Robert L. Bunting, AICPA immediate past chair, was appointed to the board of the International Federation of Accountants for a three-year term. In this post he will help determine how the international accountancy profession can best meet its public-interest responsibilities and contribute to worldwide economic growth and stability. Bunting is
Different Strokes for Different Folks
DIFFERENT STROKES FOR DIFFERENT FOLKS The article on decorating an office, “Feng Shui for Beginners” ( Dec.05, page 36 ), is the most stupid topic I have ever seen covered in the JofA . While the profession is still reestablishing itself as worthy, something like this gets printed. At my
Section 404 for Small Caps
EXECUTIVE SUMMARY In 2005 about 3,700 large-cap ($75 million or more) companies underwent the first wave of Sarbanes-Oxley section 404 audits. Here, a firm experienced with Sarbanes-Oxley section 404 audits for accelerated filers shares its best practices to help with compliance for nonaccelerated filers (companies with market capitalization under $75
International
The International Accounting Standards Board (IASB) amended International Accounting Standard 21, The Effects of Changes in Foreign Exchange Rates, to clarify its requirements and to resolve certain implementation concerns. The IASB also published a discussion paper, Measurement Bases for Financial Accounting—Measurement on Initial Recognition, that was prepared by the staff
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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
