In these worrying economic times, I must admit I feel invigorated. This is when finance can really have a huge impact. In good times, everybody does well. It’s not so easy to stand out in the good times; it’s easier to stand out in the bad times. I’ve always had
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Government
GASB issued a technical bulletin that clarifies the requirements for calculating the annual required contribution (ARC) adjustment under GASB Statement no. 27, Accounting for Pensions by State and Local Governmental Employers, and Statement no. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions. Technical Bulletin no.
Magazine Article Not a Penalty Defense
The Tax Court upheld penalties against a corporation that ignored its CPA’s advice against claiming bonus depreciation on a used airplane. The corporation instead had relied on a magazine article anticipating a possible law change that would have permitted the deduction. Congress, however, failed to pass the provision. On March
Shifting Priorities for CEOs
The weakening global economy grabbed a bigger slice of CEO attention as 2008 drew to a close, pushing HR issues further down the agenda. According to a global survey of chief executives by The Conference Board, when asked to rate their greatest concerns from among 94 challenges, the sample of
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IRS ANNOUNCES LIEN RELIEFIn December, the Service said it would expedite processing of requests to subordinate a tax lien to another lien or discharge it in some cases where a home is being sold for less than the amount secured by a mortgage. See Announcement IR-2008-141. The IRS typically takes
Online CPE Grading Gets an Upgrade
The Institute has improved its Online Grading Web site for CPE self-study courses. The enhancements include a new design, improved navigation, new features to the exams and a simplified login process. AICPA CPE Online Grading is free and available for any AICPA self-study course in formats that include text, DVD
The Redesigned Form 990
Most nonprofit organizations are now reviewing their first redesigned IRS Form 990 and its many new information requirements designed to enhance transparency and accountability. CPAs with nonprofit clients now are seeing the pieces fit together with satisfaction or, if drawing together the information has been difficult, perhaps with some concern.
Data Point: 36
The percentage of CPA workplaces (firms and businesses) that will be adding to their work forces this year, according to a survey by CPA2Biz, a subsidiary of the AICPA. Source: CPA2Biz, www.cpa2biz.com.
One-Size Security Doesn’t Fit All
“Protect Your Wireless Network—And Your Business” (Nov. 08, page 88) suggested a number of steps to protect wireless networks from outside monitoring and other unauthorized access. As an international consultant and a contributing editor for Wiley’s Computer Security Handbook, 5th Edition, I differ with some of the recommended measures. Several measures
Debt Crusader
David Walker is a man on a mission. As U.S. comptroller general, he used the bully pulpit to fuel a campaign of town hall meetings highlighting the country’s ballooning federal deficit. The Fiscal Wake-Up Tour and the publicity it generated begat the documentary I.O.U.S.A. Walker hopes the film will do
Comments on Selected Parts of the New Form 990 and Schedules
Editor’s note: This is a sidebar to “The Redesigned Form 990: Advising Nonprofit Organizations,” March 09. Part I provides a snapshot of the entire organization because it summarizes the income statement and balance sheet on the first page. It also asks for a description of the organization’s mission. Since this is
Plastic Looking a Little Less Fantastic
Americans may be learning, albeit slowly, to live without their credit cards. In a recent survey by Bankrate Inc., 40% of consumers said they would not be upset if their credit lines disappeared. Of the respondents who had credit cards, nearly one-third (32%) said they probably would buy less on
Change the Way Dates Appear in a Document
I know the shortcut for entering a date in Word is Alt+Shift+D, but I don’t know how to change the way the date is displayed. I want the date format to be March 19, 2009, not 3/19/09. You can change the default by clicking on Insert, Date and Time, which
Growing More (and Better) Accounting Ph.D.s: What Some Universities Are Doing
Faculty in charge of accounting Ph.D. programs at American colleges and universities say they recognize that CPAs starting out on an academic career track encounter challenges that can best be met by creative approaches. Most often, these approaches emphasize a personal touch through mentoring and advising. Nearly always, these leaders
The Safe and Easy Way to Unplug a Memory Stick
I’ve been told to never, never, ever unplug a USB device, like a memory stick, until the Safely Remove Hardware icon gives the OK. And that’s my problem: Some days the icon is in my toolbar, and other days it’s missing. What’s going on? What can I dop? So what
Internal Auditors Doing More, Need More Training
Internal auditors are expanding their roles beyond compliance to include advising on business improvement and strategy, but their skills in these specialty areas may not be keeping up, according to the Ernst & Young 2008 Global Internal Audit Survey. The results of the survey, which included 348 internal audit executives
A Profession’s Response to a Looming Shortage: Closing the Gap in the Supply of Accounting Faculty
For some time, leaders of the accounting profession have been concerned about an impending shortage of accounting professors, particularly in the audit and tax specializations. A recent analysis co-sponsored by the AICPA and the American Accounting Association reveals that between 500 and 700 accounting faculty per year will retire over
A 2009 Tuneup for Your Firm’s Succession Planning
The pending retirement of the baby boomer generation and the unrelenting challenge of finding and keeping talented staff can have grave consequences for firms that fail to develop a succession strategy. With the AICPA’s 2008 PCPS Succession Survey showing that only 35% of multiowner firms had a written succession plan,
Small Business
The Small Business Administration issued an interim final rule for new lender oversight regulations in its guaranteed loan program. The regulations, which went into effect Jan. 12, give the agency greater enforcement authority and increase transparency on how risk is evaluated. The new regulations clarify supervision and enforcement actions for
Help! I’ve Run Out of USB Ports
My computer has only three built-in USB ports, and all are in use. But now I want to plug in several other USB devices, such as a remote hard drive and a memory stick. What are my options? You can buy a component called a hub that contains one male
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FROM THIS MONTH'S ISSUE
Create interactive dashboards with Excel PivotCharts and slicers
Leave the static spreadsheets behind. This JofA Technology Q&A article with video walkthrough provides a step-by-step guide for creating interactive dashboards in Excel that decision-makers can use.
From The Tax Adviser
January 31, 2026
Trust distributions in kind and the Sec. 643(e)(3) election
January 31, 2026
Effects of the OBBBA on higher education
December 31, 2025
