On Nov. 11, just before the release of the SEC’s proposed road map for IFRS adoption, Mexico announced it would adopt IFRS for all listed entities beginning in 2012. Mexico plans to allow early adoption for some entities beginning with 2008 results subject to requirements that will be established by
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Data Point: 122
The number of nonfatal occupational injuries and illnesses per 10,000 full-time workers in 2007. That was a 4% drop from 2006. Source: U.S. Bureau of Labor Statistics, www.bls.gov.
Nine Lives for Ohio’s CAT?
The Ohio Supreme Court has been asked to rule on Ohio’s commercial activity tax (CAT) as applied to certain food sales, after the tax was found by a state appeals court to violate the state constitution in that regard. A gross receipts business tax, the CAT was enacted in 2005
Recoverability of Equity-Based Compensation Deferred Tax Assets
As the stock market slides, more stock options and related deferred compensation instruments are “underwater,” and the related deferred tax assets may no longer be recoverable. The balance sheets and tax footnotes of many entities highlight the magnitude of these equity-based compensation deferred tax assets. When and how they are
Government
The Federal Accounting Standards Advisory Board (FASAB) issued Statement of Federal Financial Accounting Standards (SFFAS) 33, Pensions, Other Retirement Benefits, and Other Post-employment Benefits: Reporting Gains and Losses from Changes in Assumptions and Selecting Discount Rates and Valuation Dates. The standards in SFFAS 33 require (1) gains and losses from
Institute Releases Annual Report
The AICPA’s annual report for the fiscal year ended July 31 is available in PDF format here. The report, titled “CPA: Commitment. Performance. Accountability,” includes the Institute’s financial statements, describes how CPAs define and represent the profession’s messages and highlights some of the AICPA’s significant activities.
Line Items
CONGRESS TRUMPS SUPREME COURTIn Announcement 2008-103, the IRS provided procedures and guidelines for claiming refunds of excise tax paid by domestic coal producers and exporters on exported coal. The guidance was in response to an extension by Congress of the tax years for which refunds may be claimed, to those
Motivated Employees
As uncertainty continues to buffet the economy, companies are looking for ways to keep employees feeling valued while maintaining their compensation policies. A Deloitte survey shows lower earnings and falling stock prices decimated the value in some companies’ annual and long-term incentive plans in 2008, leaving them searching for ways
Exercising Leadership
Editor’s note: On Oct. 21, Ernie Almonte began a one-year term as the AICPA’s chairman. Almonte, Rhode Island’s auditor general, is the first AICPA chairman from the government sector. This is a condensed version of Almonte’s inaugural speech, delivered at the October meeting of the Institute’s governing Council in Tucson,
Copy a Hyperlink in Excel—Without Triggering it
All I wanted to do was copy a bunch of hyperlinks from one worksheet into another. But often when I highlight the cell containing the hyperlink, the link gets triggered before it can perform the copy task. Is there a way to prevent that? Yes, there is a little trick
Click Open the Alpahnumeric Code to Locate Vista’s Office Functions
I am struggling to wade through the collection of hard-to-find application functions in Office 2007. I concede that, once I locate them, some are more powerful than those in the prior version of Office, but first you’ve got to find them in that cluttered ribbon. Any thoughts? I’ve been asked
AICPA Offers Four Scholarships for 2009–2010
The Institute is offering several academic scholarships for students interested in accounting and business. They include: ■ AICPA Scholarship for Minority Accounting Students—Financial awards of up to $5,000 for undergraduate and graduate minority accounting students. Deadline: March 6. ■ AICPA/Accountemps Student Scholarship—A joint program with Accountemps, awarding five $2,500 scholarships
Economic Crisis a Time for Self-Analysis
The unstable economy can lead to business challenges for some companies and opportunities for others. To help you and your clients make difficult decisions, Protiviti Inc., a business consulting and internal audit firm and a subsidiary of Robert Half International, has formed the Financial Crisis Team. The team suggests the
Optimistic Outlook
The hiring outlook for 2009 remains bright for many workers in the accounting and finance fields, according to a salary guide released by Robert Half International. The guide forecasts salaries will rise 3.4% for finance and accounting staff. The top three positions, according to the Robert Half International 2009 Salary
Social Security for Two
CPA financial planners are often confronted with the question, “When should I start collecting Social Security benefits?” For married couples, the question should be asked in the plural. Current financial needs and expected life span may be paramount considerations for a single person. However, the implications of when to begin
Data Point: 70
Percentage of CFOs surveyed who said international experience will be necessary for accounting and finance professionals five years from now. That number is up from 2002, when 56% of CFOs said some international experience was necessary. Source: Robert Half Management Resources, www.rhi.com.
Preventing Identity Theft Throughout the Data Life Cycle
The Federal Trade Commission estimates that as many as 9 million people have their identities stolen every year. According to the Privacy Rights Clearinghouse, more than 200 million instances of data breaches have occurred since the beginning of 2005, and they show no signs of letting up. In the first
Companies Kick Into 401(k) Pool
Company contributions to 401(k) plans averaged 3.2% of pay for the 2007 plan year, according to the 51st Annual Survey of Profit Sharing and 401(k) Plans by the Profit Sharing/401k Council of America. Numerous formulas are used to determine company contributions. For plans with fixed matches, the most common matches
Small Business
The Small Business Administration created an online course to help small businesses explore exporting opportunities in international markets. Global Enterprise: A Primer on Exporting is a free, self-paced course that provides practical guidance on exploring international markets. The course illustrates how to identify international markets, develop an export strategy, make
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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.
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