November 2010 - Journal of Accountancy

Paul Stahlin is acutely aware that his term as AICPA chairman appears to be on course to intersect with a series of major changes for the profession. The year ahead holds the potential for a shift to different accounting standards for private companies. FASB and the International Accounting Standards Board

The IRS unveiled a number of significant changes to its plan to require certain business taxpayers to report uncertain tax positions on their tax returns (see Announcement 2010-75 and Announcement 2010-76). The changes, released in September, come in response to numerous comments received on the proposal and on the draft

Nexus can be a hidden danger for a company with a multistate presence. Certain activities might cause nexus for sales and use tax, income tax, franchise tax or other business taxes. One key to successfully navigating these widely varying provisions is for tax professionals to review the statutes and rulings

A mentor’s job is to foster one-to-one relationships that challenge people to rise to higher levels of competence and responsibility. This article discusses three key characteristics of an effective mentor: 1. An effective mentor asks challenging questions that help people expand their scope of responsibilities. 2. An effective mentor is

The market for mergers and acquisitions in the accounting profession has changed dramatically over the past 18 months. Before the financial crisis in 2008, M&As were viewed more as a tool for acquiring experienced talent and less as a means for growing the top line. The economic shift has contributed

The business valuation practice area is maturing, and rapid growth is no longer the norm for the profession’s established firms. Although demand for valuation services is robust, it is harder for firms entering the field to earn superior returns unless they have a competitive advantage such as some existing expertise