A continuing devotion to fiscal responsibility has led to a resolution by the AICPA board of directors supporting two nonpartisan organizations devoted to combating the U.S. federal debt. In the resolution, the AICPA expresses support for the Campaign to Fix the Debt and the Comeback America Initiative, which express concern
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Management accounting
To ascend to CFO role, controllers must take a broader look at business
Controllers hoping to make the move to CFO must be willing to add new words to their vocabulary. The focus on numbers, while important, has to change from lookback mode to look-ahead. Concerns about month-end close should not be forgotten, but they should be accompanied by thoughts such as, “How
Management accounting
After rising significantly at the end of 2011 and the beginning of 2012, CPA business leaders’ optimism about the U.S. economy has faded substantially in recent months, according to the latest AICPA Business and Industry Economic Outlook Survey. With an uncertain political environment in the run-up to the Nov.
Schedule UTP: The early returns are in
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
Award recognizes early-career researcher’s work on management accounting issues
Jasmijn C. Bol, Ph.D., associate professor of accounting at Tulane University’s Freeman School of Business in New Orleans, received the Best Early Career Researcher Award from the AICPA. The $2,000 grant is given to the researcher with the best overall body of research in management accounting and whose research was
Applying the principles: COSO proposal relates framework to external financial reporting
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
From CGMA Magazine: Developing the talent pipeline
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
COSO shows how to put risk assessment into practice
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) on Friday released a thought paper, Risk Assessment in Practice, designed to help organizations find the optimal risk-taking zone, which the paper refers to as the “sweet spot.” “Risk assessment is all about measuring and prioritizing risks so that risk
New tool aids in evaluation of external auditors
With interactions between audit committees and external auditors a focus of a steady stream of news recently, a new tool has been developed to assist audit committees in annual evaluations of external auditors. The Center for Audit Quality (CAQ), which is affiliated with the AICPA, is one of seven organizations
CAQ releases practice aid on audit communication
How should audit firms and audit committees be talking to each other? The Center for Audit Quality (CAQ) examines the question in a brief guide released Wednesday on ways to enhance the flow of information on audit inspections and quality-control matters. The CAQ practice aid says that “transparent, candid communication
From CGMA Magazine: The merits of thinking the unthinkable
You’re about to embark on an important project. You think it will be a success, but you can’t be sure. So you imagine that, a year down the track, your project has failed. Then you seek answers: What killed it? How could failure have been avoided? What other kinds of
Plan now for inside buyouts
Succession planning took a hit in recent years. The financial crisis of 2008 touched off an unnerving chain of events for business owners looking for an exit. Constrained lending diminished the number of able buyers and lowered valuations. Baby Boomers, particularly those close to retirement, were forced to put plans
U.S. starting salaries in accounting and finance appear headed for an increase in 2013
U.S. accounting and finance starting salaries will rise in 2013 despite an uncertain economy, according to a recently published salary guide. Average starting salaries for corporate accounting employees in the United States are projected to increase between 2.7% and 4.5% compared with 2012, depending on the position and the size
COSO proposals give real-world internal control examples
News reports show the frightening weather satellite images of a hurricane that’s causing concern for leaders of an automobile manufacturing plant. The possible effects on the supply chain as the storm approaches one of the company’s suppliers seem obvious. The problems this could cause for internal control over the company’s
COSO seeks comment on internal control proposals
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is seeking public comment on a proposed document that explains how to apply its guidance to internal control over external financial reporting. COSO on Tuesday released an exposure draft of its Internal Control Over External Financial Reporting (ICEFR): Compendium of
Scope of appropriate content, structure in auditor’s report under debate
Change apparently is coming to the auditor’s report, but views vary over the appropriate content and structure for reports, and particularly over the issue of “auditor commentary.” The question of appropriate content and structure for the auditor’s report was the subject of an International Auditing and Assurance Standards Board (IAASB)
Private-company financials often shielded from employees
Employees at publicly traded companies have an advantage when it comes to understanding the financial health of their companies. After all, public companies are just that: public. And they release detailed financial results each quarter for the world to see. Employees at private companies, however, aren’t as plugged in. Indeed,
CPAs sour on U.S. economy as election nears
After rising significantly at the end of 2011 and the beginning of 2012, CPA business leaders’ optimism over the U.S. economy has faded substantially in recent months, according to the latest AICPA Business & Industry Economic Outlook Survey. With an uncertain political environment in the run-up to the Nov. 6
Talent: A battle on two fronts
Finding the right talent—from knowledge industries such as pharmaceuticals to heavy industries such as industrial manufacturing—is a problem worldwide, despite a large, easily accessible pool of educated people. Forty-three percent of 1,200 global CEOs surveyed by PwC late last year said hiring workers had become more difficult. A quarter of
Treasury basics for an overseas expansion
Understanding regulatory requirements and standard operating procedures in international locations is essential for domestic corporations expanding into overseas markets. The following tips, compiled by Wells Fargo’s international banking division, can help companies establish an effective global treasury policy: Consult with key advisers early. Draft the overall scope and plan for
Features
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Right-sizing risk management
Sole practitioner or small firm? Risk management doesn’t have to be “one size fits all.” Learn how to help protect your practice without adding unnecessary admin time.
From The Tax Adviser
July 31, 2026
Current developments in S corporations
July 31, 2026
