Highlighting the experiences of successful entrepreneurs, the U.S. Small Business Administration, in partnership with Dell Inc., launched an online video series offering tools and strategies to help small business owners rebound from the recession and put themselves in a position to expand and create jobs. Strategies for Growth: Advice
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Gail Farrelly, CPA
As different as they seem, accounting and mystery writing actually have a lot in common: Both deal with details. Both are structured. Both require intricate and involved thinking. And, on a personal level, both have been an important and fulfilling part of my life. Writing mysteries was not one of
Office 2007 Users Can Change Their “Save As” Defaults to Accommodate Those Still Using Office 2003
Q Although I upgraded to Office 2007 soon after Windows 7 came out, many of my clients and colleagues are still using Office 2003. As a result, they often can’t open my Word or Excel files. So I try to remember to save all the files I share with them
Countdown to Convergence
In November, FASB and the IASB reaffirmed their commitment to a 2006 Memorandum of Understanding (MoU) that outlines major convergence projects scheduled for completion by June 2011. The affirmed convergence plan continues the commitment made by the two boards seven years ago in “The Norwalk Agreement” to “make their existing
The F8 Key Adds a Sophisticated Assist When You Need to Highlight Text in Word
Q I once read that the F8 key provides a better way to custom-select text you want to copy, delete or just format. But I can’t figure out how to do it. Can you help? A Sure, in fact it’s one of my favorite shortcuts. As you know, the basic
Breaking Into Business Valuation
An aging population, increased regulation and the move toward fair value reporting have led to increased demand for valuation services in recent years. As baby boomers approach retirement and start thinking about succession and estate planning, the first step is often valuing the family business. Changes to the tax code
Banking
The Deposit Insurance Fund (DIF) balance decreased by $18.6 billion (180%) to negative $8.2 billion during the third quarter, the FDIC said in its Third Quarter 2009 CFO Report to the Board. The decrease was primarily due to a $21.7 billion increase in the provision for insurance losses, which
Windows Explorer Renames Multiple Files in One Fell Swoop
Q I have a large group of files, all with different names, that relate to one subject. I’d like to rename all of them with the same name, but I also want to give them individual identifiers—such as Money Smith (1), Money Smith (2), etc. I really don’t want to
Adjust the Size of Desktop Icons With a Spin of the Mouse Wheel
Q I sure would like to be able to customize the size of my Windows 7 Desktop icons. Do you know how I can do that? A The icons in the Desktop’s toolbar can be adjusted to either large or small—but nothing in between (see screenshot below). The default
Shortcuts
+ E: Opens the Explorer Window. + D: Toggles between the Desktop and returns you to the last open screen. + L: Locks your computer. + F1: Displays the Windows Help menu. + Pause: Displays the System Properties dialog box. + U: Displays the Utility Manager with accessibility options:
News Highlights for March 2010
A new blue-ribbon panel is poised to take on the issue of whether separate accounting standards are needed for private companies. The AICPA and the Financial Accounting Foundation, FASB’s parent organization, have launched the panel charged with making recommendations on the future of standard setting for private companies. The
Allowed Uses of Taxpayer Info Widened
The IRS in late December issued temporary and proposed regulations under IRC § 7216 clarifying and expanding the ways in which tax return preparers may disclose or use certain tax return information without taxpayer consent (TD 9478 and REG-131028-09). The IRS also issued two revenue rulings approving several scenarios involving
Financial Reporting
The AICPA published a set of free technical practice aids that offer nonauthoritative implementation guidance to FASB’s Accounting Standards Update (ASU) 2009-12, Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). These entities, often called alternative investments, include hedge, private equity and real estate
Auditing
The PCAOB on Dec. 17 voted to repropose for comment seven auditing standards and related amendments that collectively would revise the requirements for assessing risk in an audit. The PCAOB initially proposed the standards on Oct. 21, 2008. The reproposed standards include changes made in response to comments received
Grow and Thrive
What are you doing to grow your practice? How can you help your clients become more profitable? Use the following tips to redefine the services you provide clients, and look for additional opportunities to develop new revenue sources: —By Alexandra DeFelice (adefelice@aicpa.org), a JofA senior editor, based on a presentation
The ESOP Exit Strategy
The scenario is all too common. A majority partner wants to retire, but the remaining partners can’t afford to buy him or her out, or they want out themselves. Key employees eye the door as rumors swirl that the company may be sold to a larger competitor that is sure
Missing Links?
In “Tax Matters: When a Tax Return Is Not a ‘Return’” (Dec. 09, page 73), I believe that you were addressing the specific issue of what is a validly filed return for purposes of Bankruptcy Code § 523(a). While I appreciate your pointing out the Links case, I think that
International
The International Accounting Standards Board (IASB) re-exposed part of a proposed replacement for IAS 37, Provisions, Contingent Liabilities and Contingent Assets. IAS 37 applies to liabilities not covered by other accounting standards, such as liabilities to decommission assets and liabilities arising from legal disputes. The IASB previously published proposals
More Red Flags for Detecting Circular Cash Flow
In the article “Detecting Circular Cash Flow” (Dec. 09, page 26), I found the facts of the case study using Moxie Alloys to be extremely interesting and thought provoking. I thought the authors did a nice job explaining the exposure to a lender as well as the auditor’s risk surrounding
How to Get Those Vanished Tabs at the Bottom of an Excel Workbook to Reappear
Q Every now and then the tabs at the bottom of an Excel workbook disappear. I don’t know what I did to cause that to happen, and I can’t figure out how to get the tabs to reappear. Please help. A Any number of things can trigger that disappearing act—
Features
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