November 2008 - Journal of Accountancy

Ernie Almonte, the 2008 – 2009 AICPA board chairman, believes that thinking and acting differently is critical to success in our rapidly changing world. As Almonte begins his one-year term, he is stressing the importance of the profession remaining open to shifting perspectives and different voices. Almonte brings to the

In December 2007, FASB adopted two new business combination standards: Statement no. 141(R), Business Combinations, and Statement no. 160, Noncontrolling Interests in Consolidated Financial Statements. Both culminated years of work directed at improving reporting for consolidated entities. An article in the June 2008 issue of the JofA (“A New Day

To a large extent, your company is being managed right now by a small coterie of long-departed theorists and practitioners who invented the rules and conventions of “modern” management back in the early years of the 20th century. Management is out of date. Like the combustion engine, it’s a technology

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between the two bodies that set out a road map for convergence between IFRS and U.S. GAAP. The goal is to create

It’s hard to stop hackers from gaining access to something as ethereal as an electronic signal. That’s why it has always been challenging to secure a wireless network. If yours isn’t secure, your business and its data are at great risk. Hackers may be able to monitor which sites you

In today’s increasingly technology-driven economy, CPA/ABVs face an arduous task in putting a price on technology-based intellectual property. Even with examples like Google’s search engine, Apple’s iPod, or Microsoft’s Windows platform, where established markets exist and discrete revenue streams can be tied to a specific technology, determining value apart from

The Treasury has issued final regulations (Treasury Decision 9314) explaining how to depreciate modified accelerated cost recovery system (MACRS) property that has been acquired in a section 1031 like-kind exchange or through a section 1033 involuntary conversion when both the acquired and relinquished property are subject to MACRS in the

         EXECUTIVE SUMMARY The CPA profession’s continuing professional education regimen requires a supply of class presenters, or discussion leaders, who in turn receive honoraria, CPE credit and the satisfaction of imparting valuable skills and knowledge. CPAs considering becoming discussion leaders can take several exploratory steps, including facilitating