What would happen if you were unable to work for an extended period of time? Practice continuation plans are essential for CPAs. They ensure clients are taken care of and preserve the value of a practice, especially for small to medium-size firms, if an owner or sole practitioner falls ill.
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Management accounting
Eight Habits of Highly Effective Audit Committees
EXECUTIVE SUMMARY To ensure that your committee is up to its mission, you must first define the mission by drafting a strong charter that identifies audit committee functions, authority and responsibilities, along with the skills and experience its members must possess. Success is not automatic. Specify critical
A Bid for Fair Value
EXECUTIVE SUMMARY Zions Bancorporation developed Employee Stock Option Appreciation Rights Securities (ESOARS) as a market-based pricing technique for expensing stock options under FASB Statement no. 123(R). ESOARS auctions may be able to achieve a lower expense for Statement no. 123(R) purposes than other option-pricing models such
ABCs of Batch Processing
EXECUTIVE SUMMARY In batch processing, if costs are not isolated, high-volume customers and products tend to subsidize lower-volume ones. This article reviews different types of batch activities and how they would be handled under traditional costing and two different variations of activity-based costing (ABC). Traditional costing
Buy-Sell Agreements: Ticking Time Bombs or Reasonable Resolutions?
by Z. Christopher Mercer, ASA, CFA Peabody Publishing LP, 2007, 324 pp. Predicting the future is practically impossible. For businesses, that uncertainty makes planning crucial. Z. Christopher Mercer offers a granular look at one method of applying present tense solutions to future decisions and transitions. Mercer examines the world of
Workshop Focuses on Future
Workshop Focuses on Future T he Institute’s Minority Initiatives Committee hosted the 13th annual AICPA Accounting Scholars Leadership Workshop in June in Peachtree City, Ga. About 90 accounting students from across the country attended the workshop, which had the theme “CPAs: Leaders in Action.” The committee was established in 1969
Smart Stops on the Web
HUMAN RESOURCES EASY DOES IT www.simplyhired.com Many of us may not consider a job search “a simple yet effective, enjoyable journey,” but that’s exactly what the creators of this vertical employment search engine strive to provide. The site features millions of positions fed from thousands of
Technical Education a Must for CAEs
Chief audit executives reported relatively high competency levels in the technical areas important to internal audit but said there’s still room for improvement. The top responsibilities needing improvement were: “Need to Improve” Rank General Technical Knowledge Competency 1 COSO Enterprise Risk Management Framework 3.2 2 Enterprise Risk Management 3.6 3
Tune Up for High-Performance Wealth
Each year, individuals and business owners should evaluate their wealth management initiatives to make sure they have the appropriate portfolio for their age and investment goals. Practitioners should emphasize the following key points to help clients maximize their saving potential. Maximize retirement plan contributions. The 401(k)/403(b) maximum
Auditing
The AICPA’s Private Companies Practice Section created an online toolkit devoted to Statement on Auditing Standards no. 112, Communication of Internal Control Related Matters Identified in an Audit. SAS 112 is effective for audits of periods ending on or after Dec. 15, 2006. The toolkit includes talking points, sample client
An Antidote to Excess
A recent study by Institutional Shareholder Services found CEO succession planning, which many public company boards have adopted over the past three years, to be a key practice in reducing excessive executive and golden parachute payments. The study suggests that without a succession plan in place, a board can become
Data Point: 84
The percentage of financial institutions with a chief risk officer on staff. Another 8% plan to add this position. Source: Deloitte & Touche USA LLP’s Accelerating Risk Management Practices , www.deloitte.com .
Internal Controls
Despite making progress in safeguarding sensitive or confidential information, the SEC still lacks consistency in implementing key data controls, the GAO said in its annual audit released in April. Information security control weaknesses identified included 13 that remained unresolved from the previous year’s audit, plus 15 new ones, the GAO
Value Proposition
EXECUTIVE SUMMARY The CPA is the gold standard in financial credentials, but CPAs are increasingly in short supply. The result is that it is more difficult and more expensive for companies to find qualified CPAs. CPAs can benefit companies in a number of ways that they
Summits Address Capital Market Concerns
The AICPA participated in two meetings on the competitiveness of U.S. capital markets in Washington in March. The first, hosted by Treasury Secretary Henry M. Paulson on March 13, included an open discussion among 45 of the nation’s top business and association executives on whether the U.S.
Optimizing Company Cash: A Guide for Financial Professionals
by Michèle Allman-Ward and A. Peter Allman-Ward AICPA, 2007, 271 pp. Cash flows, liquidity, the banking system and other touchstones of business finance are laid out in this comprehensive and easy-to-follow guide to cash management, with copious exhibits and examples. Of particular interest to practitioners in this increasingly specialized field
Perfect Storm Prompts Changes in Pension Accounting
EXECUTIVE SUMMARY FASB has issued Statement no. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans, to reform accounting for pension and other postretirement benefit plans. The new statement requires companies to move off-balance-sheet items onto their financial statements. The schedule of comprehensive income
Dirty Little Secrets of 401(k) Plan Fees
In September 2006, eight Fortune 500 companies were named in class action lawsuits alleging they failed to monitor and disclose 401(k) fees under so-called revenue-sharing arrangements. To protect your company or client, watch for these red flags when reviewing a 401(k) plan offering: Determine how expenses in
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
April 30, 2026
Current developments in taxation of individuals: Part 2
April 30, 2026
Hedge funds: Tax structuring, planning, and compliance
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
