November 2011 - Journal of Accountancy

When the FASB statement on business combinations was revised (modifying Statement no. 141 into Statement no. 141(R), now codified as FASB Accounting Standards Codification (ASC) Topic 805, Business Combinations), one change required that all items of consideration transferred by the acquirer be measured and recognized at fair value at the

Greg Anton, CPATitle: Founding partner, Anton Collins Mitchell LLPCity: DenverEducation: Bachelor’s degree in accounting, University of Northern ColoradoDate of birth: Nov. 6, 1963Family: Wife, Julie; sons Cameron and JakeHobbies: Mountain biking, skiing, fly fishingDevice he can’t live without: iPadCaff or decaf: NeitherGood read: 212: The Extra Degree, by Sam ParkerEmail:

Much attention is given to safeguarding financial and physical assets from fraud, but proprietary information can also be a target for theft. How much do you know about protecting personal and corporate information from would-be fraudsters? Take this Fraud IQ quiz to find out. 1. Ferdinand’s personal financial information recently

With 2012 just around the corner, the JofA gathered the three technology keynote speakers from the AICPA’s 2011 Practitioners Symposium/TECH+Conference to talk about tech trends heading into the new year. The nearly 90-minute conversation covered a wide range of technical issues critical to all CPAs. Participating in the call were:

The Patient Protection and Affordable Care Act of 2010 (PPACA) imposes reporting requirements under new IRC § 501(r) for charitable hospitals regarding the fulfillment of their charitable purpose as tax-exempt organizations. Specifically, if they have not already done so, these hospitals must complete a community health needs assessment and draft

The AICPA has expressed profound disappointment with a Financial Accounting Foundation (FAF) proposal on private company accounting standard setting and is urging CPAs and others to weigh in on the debate. The FAF proposal released in October (available at tinyurl.com/3stvppq) would create a Private Company Standards Improvement Council (PCSIC) to

Charitable contributions of conservation easements allow taxpayers to obtain a federal tax benefit while helping to conserve land for public use or enjoyment or to preserve a historic structure. Through the use of these easements, ownership of land or a historic building is kept in private hands but with restrictions

Brazil is a nation rapidly on the rise. In 2010, the country’s economy grew 7.5%, making it the seventh-largest in the world, according to the World Bank. In 2011, Brazil’s GDP is expected to grow 4.5%, slower than last year but still a healthy pace. And growth over the next