The XBRL committee, an AICPA-led consortium of more than 50 accounting firms, financial services providers and technology companies, in July released XBRL for Financial Statements, a formal specification of the extensible business reporting language for implementation in the United States. (See “Comments Encouraged on Newly Named XBRL,” JofA, June00, page
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Information management and technology assurance
The SEC’s Proposed Auditor Rule Threatens Our Profession and the Public.
SEPTEMBER 2000 VOLUME 190, NUMBER 3 Editorial Staff Publisher/Editor-in-Chief Colleen Katz Executive Editor Barbara J. Shildneck Managing Editor Elizabeth Uva Senior Editors Katharine W. Coveleski Peter D. Fleming Michael Hayes Raj Rangarajan Robert Tie Cynthia Waller Vallario Stanley Zarowin Assistant Editors Sarah Cobb Vincent Nolan Contributing Editors Maria
Expanding Into Cyberspace
EXECUTIVE SUMMARY PRACTICALLY EVERY ASPECT OF THE tax preparation field is changing, evolving into a totally new market and business. The number of tax software brands on the market is shrinking, leaving thousands of CPAs tax software orphans with fewer replacement products to choose from. WHILE THE NUMBER OF
Drilling for Information
EXECUTIVE SUMMARY TODAY’S TECHNOLOGY GIVES financial managers the opportunity to create interactive, multidimensional reports. With the click of a few buttons, you can prepare up-to-date financial reports automatically. IN ADDITION, THE REPORTS can provide drill-down functionality. Click on a number in the report, and the underlying support data appear.
Finally, Business Talks the Same Language
EXECUTIVE SUMMARY XBRL, EXTENSIBLE BUSINESS REPORTING LANGUAGE, soon will be the lingua franca for all business reporting—from issuing financial statements to banks and shareholders to filing 10-Ks with the SEC or uploading business information onto a Web site. The development surely will revolutionize how business information is reported, used
Harding Recognized for XBRL Efforts
The AICPA presented Wayne Harding, a vice president of Great Plains Software, Inc., with its Special Recognition Award at the Institute’s Tech 2000 conference in Atlanta recently. Harding played a key role in the development of XBRL (extensible business reporting language), an XML-based specification that allows for the preparation and
New AcSec Chairman
The AICPA named Mark V. Sever, a partner of Ernst & Young LLP, as chairman of its accounting standards executive committee (AcSEC), effective October 2000. Sever, who is a current AcSEC member, succeeds David Kaplan of PricewaterhouseCoopers, who completes his three-year term as chairman.
Confronting Retirement
EXECUTIVE SUMMARY ALTHOUGH MOST CPAs HAVE their own personal retirement accounts, a surprising number of practitioners don’t have formal retirement plans for their businesses. AS RETIREMENT PLANS ARE DEVELOPED, senior partners may have doubts about whether their successors can honor future obligations, intend to stay with the firm or
IT Credential to Help CPAs Make Business Sense Out of Technology
Aimed at CPAs involved in information technology, strategic planning, management and implementation, the new certified information technology professional (CITP) designation the AICPA introduced in May was designed to leverage the CPA’s abilities as a strategist and general business adviser. “Market research reveals that business owners and executives need impartial guidance
Overnight to India
t sounds like magic: Send your back-office chores away at night and find the finished work waiting with your e-mail in the morning. Believe it or not, some CPA firms are doing it: e-mailing tasks to accounting and programming personnel in India, where the workday begins just as Americans head
Comments Requested on Newly Named Version of XML for Business Reporting
SPECIAL REPORT The first specification for a business-reporting variant (XBRL) of extensible markup language (XML) was the subject of an April symposium. The XBRL project committee held the meeting to encourage comments on the specification and to announce its new name. Until then, it had been known as XFRML—for financial
Lawmakers Tackle Privacy
EXECUTIVE SUMMARY E-COMMERCE PRIVACY ISSUES ARE HIGH PROFILE in Washington. Technology allows the easy accumulation and distribution of personal financial data as well as the theft of these data, and security must be ensured. INCIDENTS THAT CAUGHT THE ATTENTION OF Congress were a bank selling confidential information to third-party marketers;
Practice Management
CPA Firms Profit From Alliances, Says Survey CPA firms short on time and staff, but eager to meet their clients’ varied and extensive needs, are building up their service offerings and profits through alliances with organizations savvy about investments, insurance and regulatory compliance. This is according to a 1999 survey
Launch a Web Site—Now
Business-to-business transactions on the Internet are outpacing business-to-consumer transactions by 3 to 1, according to AdRelevance, a Web market research organization. EXECUTIVE SUMMARY AN ORGANIZATION WITHOUT a Web site in its marketing plan doesn’t have a realistic marketing plan. The Internet is becoming the preeminent medium for selling, buying, communications
Line Items
Media Circus Caused Lower Property Values But Not a Loss After O.J. Simpson was charged with murder, his Brentwood, California neighborhood was overrun with reporters, law enforcement officials and curious bystanders. As a result, the owners of the adjacent house and land experienced a sudden decline in the value of
Transfers Incident to a Divorce
Divorce can be a very complex matter, both emotionally and financially. The financial complexity is illustrated by the many tax implications of divorce. People going through divorces often find themselves in disputes with the IRS. The Tax Court recently decided one such matter. John and Louise Young were married in
Start Your Own Firm
EXECUTIVE SUMMARY IF YOU PLAN TO START YOUR OWN FIRM, it is imperative that you take steps ahead of time to ensure you start off on the right foot. WORK FOR A SMALL PRACTICE BEFORE you leave a large firm. Learn the profession, sharpen your skills, and learn how to
Court Rules on Lottery Payoffs
In United States v. Estate of Shackleford, the Eastern District Court of California ruled a taxpayer’s estate did not have to use IRS valuation tables to calculate the value of lottery annuity payments. It said use of IRC section 7520 tables would result in unrealistic and unreasonable values because of
S Corporation Stock Basis
When an insolvent S corporation negotiates a reduction in its liabilities, it recognizes cancellation of debt (COD) income. Because the corporation is insolvent, the income is nontaxable. Can shareholders in the S corporation increase the basis of their stock by the amount of their share of COD income? In 1986,
Taking Back the Dependency Exemption
In divorce situations, the custodial parent is generally entitled to take the dependency exemptions for the children (IRC section 152(e)). This applies as long as both parents provide more than half the children’s support and the children live with either or both parents for more than six months each year.
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Agentic accounting has arrived: What’s hype and what’s real?
Artificial intelligence (AI) is moving beyond chatbots and into accounting workflows. A new generation of agentic AI tools can plan, execute, and adapt as they complete tasks, raising expectations for what automation can do inside firms and finance departments. What can agentic AI realistically do today and what challenges are there in its implementation? Find out in this Journal of Accountancy sponsored report.
From The Tax Adviser
August 31, 2026
2026 tax software survey
July 31, 2026
