Valuation Services

Topics

April 1, 2000

A New Approach to Compilations

AUDITING Proposed revisions to SSARS no. 1 make some bold changes. A New Approach to COMPILATIONS BY DIANE S. CONANT AND J. RUSSELL MADRAY EXECUTIVE SUMMARY THE AICPA ACCOUNTING AND REVIEW SERVICES committee issued a proposed revision of SSARS no. 1, Compilation and Review of Financial Statements, in December

March 1, 2000

Tips for the Valuator

EXECUTIVE SUMMARY FOLLOWING BASIC TENETS will provide business appraisers in both industry and public practice enhanced understanding and skills to comply with business valuation standards. FIRST, FULLY UNDERSTAND THE NATURE of each BV assignment. CPAs WHO OFFER BV MUST CONFORM with several standards on professional competence, due professional care, planning

March 1, 2000

Is Business Appraising for You?

EXECUTIVE SUMMARY BV IS A VERY CHALLENGING BUSINESS that requires an unusual set of skills. CPAs SUCCESSFUL AT OFFERING BV tend to: — Function well under intense pressure. — Communicate well, both orally and in writing. — Integrate quantitative and subjective data coherently. — Be unfazed by ambiguity and uncertainty.

March 1, 2000

Measuring Public Companies

PRACTICE DEVELOPMENT/BUSINESS VALUATION Skills you need to value businesses. Is Business Appraising For You? BY ELIZABETH DANZIGER EXECUTIVE SUMMARY BV IS A VERY CHALLENGING BUSINESS that requires an unusual set of skills. CPAs SUCCESSFUL AT OFFERING BV tend to: — Function well under intense pressure. — Communicate well, both

March 1, 2000

Smart Stops on the Web

Online Articles Add Value www.businessvalue.com Banister Financial, Inc.’s site offers articles from Fair Value, the company’s business valuation newsletter. Click on the article library banner for such topics as family limited partnership valuations, employee stock ownership plans and key business valuation trends. A Source for Resources www.instbusapp.org The Institute of

February 1, 2000

Counseling Clients on Credit

EXECUTIVE SUMMARY WITH CONSUMER DEBT AT AN ALL-TIME HIGH, CPAs need to help clients focus more attention on debt management. The Federal Reserve says Americans owed $1.33 trillion, excluding mortgage debt, at the beginning of 1999. MOST LENDERS AND CREDIT COUNSELORS RECOMMEND that families limit debt payments to 36% of

February 1, 2000

The CPA As E-Consultant

FEBRUARY 2000 VOLUME 189, NUMBER 2 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 John von Brachel Michael Hayes Emily S. Plishner Stanley Zarowin Senior News Editor Robert Tie Associate News Editor Mavis C.

July 1, 1999

About the Publisher

July 1999 Vol. 188 No. 1 Highlights Publisher/Editor-in-Chief Colleen Katz ExecutiveEditor Barbara J. Shildneck Managing Editor Elizabeth Uva Senior Editors Katharine W. Coveleski Peter D. Fleming John von Brachel Michael Hayes Emily S. Plishner Stanley Zarowin Senior News Editor Robert Tie Associate News Editor Mavis C. Allen Assistant

April 1, 1999

When Your Customer Goes Belly-Up

EXECUTIVE SUMMARY BANKRUPTCY LAW HAS SOME UNPREDICTABLE consequences. If a customer has physical possession of its supplier’s property, ownership may be debated. Conversely, a supplier may reclaim some goods it has already shipped. If a supplier files a formal proof of claim, it may waive other rights. THE COURT MAY

August 1, 1998

Tax Brief. Business/Industry: New pension plan self-correction programs.

BUSINESS/INDUSTRY New Pension Plan Self-Correction Programs The IRS consolidated four correction programs for tax qualified plans into a single Employee Plans Compliance Resolution System (EPCRS). Self-correction programs allow employers that sponsor tax-qualified pension plans to correct failures or defects that otherwise might threaten a plan’s qualification. Revenue procedure 98-12 provides

January 1, 1998

Do We Understand Each Other?

EXECUTIVE SUMMARY THE AUDITING STANDARDS BOARD issued SAS no. 83 and SSAE no. 7 to provide CPAs with guidance on establishing an understanding with the client. THE TWO NEW STATEMENTS ARE IN LINE with SQCS no. 2, which requires firms to have policies and procedures in place for obtaining an

November 1, 1997

A Journal Survey: The Software CPAs Use

A Journal Survey About a generation ago, the only tools an accountant used were a hand-cranked calculator, a columnar pad and a sharp pencil. In those days, an electric pencil sharpener was considered a high-tech accessory. Today, you probably wont find any of those tools in an accountants office—except maybe

April 1, 1997

Litigation Services: Standards and Ethics

EXECUTIVE SUMMARY LITIGATION SERVICES continue to grow in popularity, and practitioners must understand the standards and ethics that govern them. MANAGEMENT CONSULTING SERVICES standards govern litigation services. These include serving the client interest, understanding with client and communication with client. AUDITING STANDARDS, ATTESTATION standards and accounting and review services standards

March 1, 1997

Who Got Sued?

EXECUTIVE SUMMARY AUDITOR LITIGATION RESEARCH SHOWS that auditors encounter a significant level of weak claims and engage in costly activities to dispose of these weak claims. DEFENDING AGAINST WEAK LAWSUITS is a difficult, time-consuming and financially burdensome experience. The average weak claim costs $3.7 million to defend against and 3.7