November 2012 - Journal of Accountancy

Richard J. Caturano, CPA, CGMA Title: Executive managing partner, Boston office, McGladrey LLP City: Boston Education: B.S. in accounting, M.S. in taxation, Bentley College Date of birth: Nov. 18, 1952 Family: Wife, Barbara; son, Anthony; daughter, Christina Ryan; son-in-law, Shane Ryan; grandson, Rhys Richard Ryan Device he can’t live without:

Traditional accounting principles form the foundation for a new approach to financial reporting that the AICPA is developing for small and medium-size entities (SMEs) and released for public comment Thursday. The proposed Financial Reporting Framework for SMEs (FRF-SME) is designed to emphasize familiar accounting concepts such as historical cost and

With the Oct. 26 release of Windows 8, Microsoft unveiled a new look and new direction for the operating system that runs 92% of desktop computers worldwide. But Windows 8 isn’t about desktop dominance. It’s about Microsoft seeking to gain a foothold in the mobile market, where Apple’s iOS and

Editor’s note: Also read “Windows 8: Jump or wait?” in the November 2012 issue of the JofA. KEYBOARD SHORTCUTS Windows + Arrow Keys: Use this to place an application window to the left/right of the screen and also to maximize/minimize. Windows + Shift + Arrow Keys: Maximize, restore and move

The first two years of corporate income tax returns requiring Form 1120, Schedule UTP, Uncertain Tax Position Statement, have been filed, and the IRS has described first-year returns and provided guidance for the growing number of business taxpayers that will be required to file it. Schedule UTP was a required

During the past few years, as businesses have focused on surviving a rough economy, human capital development has largely been pushed to the back burner. Workers who survived rounds of layoffs have had more to do and less time to hone new skills or dream of that corner-office promotion. But

You can’t pick up a newspaper or go online this fall without seeing stories about the coming “tax cliff” or “taxmageddon”—the time at the end of this year when the current tax rates for income, capital gains, gifts, and estates are scheduled to expire. Mostly overlooked by the news media

News reports show the frightening weather satellite images of a hurricane that is causing concern for leaders of an automobile manufacturing plant. The storm’s possible effects on the supply chain seem obvious as it approaches one of the company’s suppliers. The problems this could cause for internal control over the

The smallest firms have been the biggest winners among U.S. accounting firms during the past two years. That’s one of the findings of the 2012 National MAP (Management of an Accounting Practice) Survey, a biennial benchmarking survey conducted by the AICPA Private Companies Practice Section in conjunction with the Texas