EXECUTIVE SUMMARY WHILE NONQUALIFIED SUPPLEMENTAL EXECUTIVE retirement plans (SERPs) are a tax-efficient way to restore benefits lost due to the limits in IRC sections 415 and 401(a)(17), they are not the best way to transfer wealth to the next generation. Multiple taxation and lost earnings can erode up to
Advertisement
TOPICS
Management accounting
Taking Account: Key Dates for the Profession
he accounting profession has made remarkable progress since its early days, when practitioners struggled to establish credibility. An examination of some of the most important events during the first nine decades of the 20th century offers a glimpse into what has made the profession what it is today. Although
Valuing Closely Held Stock for Estate and Gift Tax Purposes
PAs who work with estates know that, if a decedent owned stock of a closely held business at his or her death, the value of the stock generally must be determined if an estate tax return will be filed. The value for such purposes is the date-of-death fair market value
New Rules, New Responsibilities
EXECUTIVE SUMMARY THE AUDIT COMMITTEES OF CORPORATE BOARDS of directors have assumed more responsibility—and potential liability—as a result of new rules the SEC, the New York Stock Exchange, the American Stock Exchange, the National Association of Securities Dealers and FASB enacted that took effect this year. THE RULES ARE
Smart Stops on the Web
RISK MANAGEMENT SITES From the Risk Experts www.irmi.com One of the most useful features of the International Risk Management Institute (IRMI) site is its Expert Commentary section, which posts articles written by industry specialists in insurance, law, legal trends and other aspects of risk management. IRMI also has a resource
A Taxing Problem
INVESTMENTS When a fund’s manager factors taxes into investment decisions, investors should do better. A Taxing Problem BY PETER D. FLEMING EXECUTIVE SUMMARY INCOME TAXES CAN EAT UP A SUBSTANTIAL PORTION of the investment return on an equity mutual fund. For tax conscious investors, tax-managed mutual funds offer a
Auditing
Audit Committee Rules to Improve Disclosure To address earnings management concerns raised by SEC Chairman Arthur Levitt, Jr., the National Association of Securities Dealers (NASD), the New York Stock Exchange (NYSE), the American Stock Exchange (Amex), the auditing standards board (ASB) and the SEC itself individually adopted rules and standards
Auditing
New SASs Address Communications and Adjustments SAS no. 90, Audit Committee Communications (December 1999). The ASB issued SAS no. 90 (see Official Releases, page 103) to address concerns about audit committees’ oversight of corporate financial reporting. A “blue ribbon” panel, established by the National Association of Securities Dealers (NASD) and
You Can Work and Have a Life Too
For many American employees, working and having a life are the impossible dream. According to author Gloria Dunn, time is the culprit that keeps frustrated workers from improving their current job conditions. Dunn tells workers how to find the time they need to “reinvent” their work lives—create a better work/life
The Station Never Sleeps
EXECUTIVE SUMMARY A TREASURY WORKSTATION INCLUDES both hardware and treasury management applications. Systems that go by that name generally allow companies to automate most of their core treasury operations seamlessly with a database and communicate directly with banks, other financial institutions and sometimes even customers and suppliers. They can typically
Index Funds: Who Are They Good For?
INVESTMENTS Is it a search for the Holy Grail? The Quest to Outperform BY LARRY SWEDROE EXECUTIVE SUMMARY THE DEBATE OVER THE EFFICIENCY of financial markets leaves investors—and those who advise them—to answer this question: Can active portfolio managers exploit market inefficiencies enough to overcome the costs of their
The Quest to Outperform
EXECUTIVE SUMMARY THE DEBATE OVER THE EFFICIENCY of financial markets leaves investors—and those who advise them—to answer this question: Can active portfolio managers exploit market inefficiencies enough to overcome the costs of their efforts? For those who answer no, the best option is to own passively managed funds. MUTUAL FUNDS
Hedging Your Megawatts
EXECUTIVE SUMMARY ELECTRIC UTILITY DEREGULATION introduces new price risks for companies that consume large quantities of power. Several electric utilities have been surprised by sudden dramatic electricity price moves. Hedges can reduce that risk. A HEDGING STRATEGY CAN BE as simple as a long-term fixed-rate contract or as complicated as
A Graceful Exit
EXECUTIVE SUMMARY FORMULATING A successful exit strategy requires figuring out what your client really wants and devising a plan to get there. CPAs in public practice and in industry are uniquely positioned as trusted advisers to develop a sound exit strategy. FINDING OUT WHAT YOUR CLIENT WANTS is the first
Eastern Exposure
EXECUTIVE SUMMARY ON SUMBAWA, A REMOTE INDONESIAN ISLAND east of Bali, Newmont Mining Corp. began developing a huge mining project that represented tremendous opportunity as well as political, social and financial risk. Newmont tried to anticipate risk during the 13-year development of Batu Hijau but did not foresee government overthrow,
What a PEO Can Do for You
EXECUTIVE SUMMARY MORE THAN EVER BEFORE, BOTTOM-LINE-CONSCIOUS companies are outsourcing HR functions by making use of professional employer organizations. PEOs perform a wide variety of tasks ranging from payroll management and employee benefit design and administration to tax filings and compliance with state and federal workplace legislation. GIVEN THE MYRIAD
Staff Performance Advice for CPAs
EXECUTIVE SUMMARY EXPERIENCED HUMAN RESOURCE directors are implementing changes in performance management that not only make your job as the de facto personnel director easier but also usually improve the performance of the entire staff—making you look good. SOME HR DIRECTORS are introducing values-based systems that integrate the company’s mission
Getting the Best From Staff
EXECUTIVE SUMMARY ANNUAL RAISES AND PROMOTION opportunities arent always enough. Managing the changing needs of professional staff requires individualized attention, specialized incentive programs and compensation plans more closely tied to individual achievement and performance. A STANDARD COMPENSATION PLAN or a firmwide incentive program will not have the same effect on
Best Practices for CPA Firms
EXECUTIVE SUMMARY THE AICPA HAS COMPLETED TWO projects to identify “best practices” for accounting consultations and auditor communications with boards of directors and audit committees. These practices are intended to help CPA firms evaluate and enhance their policies and procedures in these critical areas. IN FIRMS THAT FOLLOW BEST PRACTICES,
Internal controls.
Internal Control Checklist An effective internal control system enables you to manage significant risks and monitor the reliability and integrity of financial and operating information. It also ensures that the audit committee acts as a powerful and proactive agent for corporate self-regulation. The Committee of Sponsoring Organizations of the Treadway
Features
SPONSORED REPORT
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
