Exhibit 6
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Under the Wire
Source: National Bankruptcy Research Center, www.nbkrc.com .
coll_ex1
Exhibit 1
Using VLOOKUP To Do Bank Reconciliations
USING VLOOKUP TO DO BANK RECONCILIATIONS I enjoyed the article “Double-Teaming in Excel” ( JofA , Nov.05, page 83 ). VLOOKUP is so versatile; I have used it to reconcile outstanding checks each month. I download the checks that were paid for the month from our bank’s Web site into
Break Excel Formulas into Bite-size Sections
My spreadsheets contain very long, complex formulas that are hard to read. Is there some way to break them into smaller pieces without affecting the integrity of the formula? There is an easy solution. For example, take this long formula: Wouldn’t it be easier to read if it were broken
Deducting S Corporation Losses
When an S corporation incurs losses, its shareholders can directly deduct their share of them in accordance with the flowthrough rules of subchapter S. A shareholder’s aggregated amount of losses and deductions for any taxable year can’t exceed the sum of his or her adjusted basis of stock in the
AICPA Turns Students On to Business and Accounting
www.aicpa.org T he AICPA developed “The Turnaround Game” ( www.theturnaroundgame.com ), a Web-based interactive business simulation that introduces students to the CPA’s role in business by having them compete to devise the best strategy for saving a record company from bankruptcy. The game is the latest installment in an ongoing
Taking Care of Small Business
The Institute’s vice-president for small firm interests describes AICPA programs for small firms and their small business clients. mall businesses—the fastest-growing sector of the U.S. economy—rely on their CPAs for business advice, making them a core practice area for many practitioners. In recognition of this important relationship, the AICPA provides
The Last Word: Donna Sylver
Donna Sylver, CPA CFO, Mutual Community Savings Bank Raleigh, North Carolina AFTER HIGH SCHOOL I HELD SEVERAL JOBS that gave me the opportunity to get into the trenches and understand the operations of a business. The diversity of that experience was a great help in my career. Two kids and
A Note of Pessimism
Senior executives of U.S. multinationals were sounding less optimistic about both the domestic and world economies in the latter part of 2005. According to Management Barometer, some 59% of them saw energy prices as a possible deterrent to their company’s growth (compared with 39% in the second quarter). Only 70%
401(k) the Easy Way
Source: Hewitt Associates, www.hewitt.com , survey of 450 large companies, 2005.
Manage Your Risks
Risk management can be an intimidating and complex undertaking, but as a company leader you can’t just ignore your company’s vulnerabilities. Save yourself some sleepless nights by avoiding these common mistakes: Failing to understand the consequences and long-term business impact of risk. Half of all businesses that suffer a catastrophe
Longer Tour Equals Less Pay
Source: Employee benefits survey of 3,000 U.S. companies, Business and Legal Reports Inc., Old Saybrook, Conn., www.compensation.blr.com , 2005.
Castellano Wins Institute’s Top Citation
James G. Castellano, CPA, received the AICPA’s Gold Medal for Distinguished Service at the fall council meeting. Doyle Z. Williams, CPA, chair of the AICPA Awards Committee, presented the medal, which recognizes those who have had an extraordinary positive influence on the profession. Castellano, a former AICPA chairman, is chair
Deducting an MBA
Employees can deduct educational expenses if the coursework allows them to improve or maintain their job skills or if their employer or the law requires them to attend the classes. But educational expenses are not deductible if the courses are taken to prepare for a new trade or business or
Ensure Today’s Data Are Readable Tomorrow
When I started with computers in the 1980s, we had those 5 inch floppy disks—and they really were floppy. Then PCs and DOS came along with three-inch disks (and although they were still called floppies, there were no longer floppy). Now my new computer doesn’t even have a floppy slot.
New Kids on the Block
EXECUTIVE SUMMARY In the face of new regulatory demands, more companies are hiring chief accounting officers (CAOs) to handle everything from corporate accounting, financial reporting and internal controls to corporate tax and Sarbanes-Oxley compliance. In addition to day-to-day compliance activities, CAOs also sometimes take on the duties of a controller
Manners Mistakes Managers Make
ittle etiquette errors can diminish your image and, eventually, your power. So watch your Ps and Qs, and be careful to Recognize subordinates when passing them in a hall and receptionists when entering offices. Silence your cell phone and beeper during meetings. Take invitations from subordinates seriously. Never ignore them
IRS Eases Extension Request Rules
emporary regulations issued under IRC section 6081 (TD 9229, 11/4/05) simplify how individuals, partnerships and others can obtain an automatic six-month extension of time to file a number of income tax returns with a single request. The rules also remove the requirements for a signature and an explanation of the
Privacy
The IRS issued proposed regulations on the disclosure and use of tax-return information by return preparers. While a related IRS press release describes how the regulations will affect the offshoring of tax returns or tax-return information, they have broader implications for tax practitioners. Generally, the regulations revise the manner and
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