05/22/2012 - 14:06 - 157 reads
The FAF, the oversight body of the Financial Accounting Standards Board (FASB), is seeking interested stakeholders who would like to be considered to participate in a post-implementation review (PIR) survey of FASB Statement No. 131, Disclosures about Segments of an Enterprise and Related Information.
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05/22/2012 - 12:43 - 215 reads
The liquor and tobacco industries are frequent targets of "sin taxes" aimed at drumming up revenue from sources that cater to certain vices. But the latest call for a sin tax is directed at a group that's decidedly more button-down than bootleggers and barkeeps: Wall Street brokers.
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05/22/2012 - 11:20 - 254 reads
Two US Senators are feeling anything but friendly toward Eduardo Saverin, one of the cofounders of the social networking site Facebook. They have proposed new legislation, called the Ex-PATRIOT Act, which would impose a mandatory 30-percent capital gains tax rate for expatriates on all future investment gains.
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05/22/2012 - 10:28 - 293 reads
The American Institute of CPAs (AICPA) Private Companies Practice Section (PCPS), in partnership with the Texas Society of CPAs, is now gathering data for its much-anticipated 2012 benchmarking survey ‒ the National Management of an Accounting Practice (MAP) Survey.
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05/22/2012 - 10:09 - 120 reads
According to a new survey by Deloitte, more Americans will be traveling this upcoming Memorial Day holiday than they did last year. This could be welcome news to clients who own rental properties as the traditional vacation season kicks into high gear. But some dark clouds still loom on the horizon . . .
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05/21/2012 - 16:22 - 346 reads
A new survey conducted by Rasmussen Reports for the Consumer Federation of America ‒ the COUNTRY Financial Security Index - shows a gap between what Americans think they're spending and what's happening in reality.
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05/21/2012 - 10:38 - 658 reads
If you have a Facebook account, you’ve probably faced the dilemma of whether to accept a friend request from a business associate.
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05/21/2012 - 10:12 - 449 reads
The IRS issued a written apology to Dionne Warwick and has cut more than $1.2 million of its original sum of back taxes that Warwick owes stemming from money she earned back in the 1990s.
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05/20/2012 - 16:53 - 741 reads
MetLife has released its "Tenth Annual Study of Employee Benefits Trends," the results of which confirm that despite uncertain and shifting times, the potential of benefits to help attract and retain talent and improve employee productivity are stronger than ever.
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05/20/2012 - 12:40 - 668 reads
Following is the latest roundup of accounting community news for the week of May 21, 2012.
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05/19/2012 - 21:06 - 378 reads
This year’s congressional visits led the agenda on the first full day of AICPA Spring Council with CPAs from all around the country visiting the offices of their congressional representatives and senators armed with two great new tools from the AICPA.
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05/18/2012 - 16:31 - 143 reads
Now that busy season is over, it's a good time to consider attending a conference.
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05/18/2012 - 14:24 - 594 reads
The CPA and advisory firm BKD, LLP, has tapped Regional Managing Partner Ted Dickman as its next CEO, effective Friday, June 1, 2012.
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05/18/2012 - 11:10 - 1098 reads
After thirty-five years, the venerable software program known as Peachtree Accounting is adopting a new moniker - Sage 50 Accounting.
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05/18/2012 - 10:09 - 540 reads
Barbara Murry, Douglas Murry, Douglas Murry III, Yolanda Moses, Lee Moses, Veronica Temple, Jeffrey Temple, Almetta Johnson, and Courtney Johnson were charged in an indictment by a federal grand jury in the Middle District of Alabama on a variety of counts stemming from an identity theft and tax fraud scheme.
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05/18/2012 - 10:00 - 472 reads
If your clients are unfamiliar with web portals, you can explain how web portals save everyone time and make the exchange of files easier. For end clients, using a web portal means they never need to be concerned about an e-mail server being bogged down or rejecting the exchange of large QuickBooks files.
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05/17/2012 - 13:20 - 1131 reads
According to the Business Software Alliance's (BSA) ninth annual study - 2011 BSA Global Software Piracy Study - the value of software theft is at an astounding all-time high ‒ $63.4 billion in 2011, up from $58.8 billion in 2010.
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05/17/2012 - 11:03 - 912 reads
In his opening remarks to AICPA Spring Council Wednesday, AICPA President and CEO Barry Melancon was nostalgic, waxing poetic about the profession’s humble beginnings and major milestones in the AICPA’s 125 year history, which is being celebrated this week in Washington, DC.
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05/16/2012 - 14:50 - 531 reads
How can taxpayers follow how their money is being spent on public education? What is the difference between a school district's budget and its financial statements? Answers to these questions, and many others, can be found in GASB's new user guide, What You Should Know about Your School District's Finances.
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05/16/2012 - 13:51 - 796 reads
Margaret Kirksey, a resident of Montgomery, Alabama, was sentenced May 8 in the Middle District of Alabama to eighty-one months in federal prison for filing false tax returns using stolen identities, the Justice Department and the IRS announced.
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There are upsides and downsides to attending accounting conferences. One upside is the opportunity to immerse yourself in education and learn about the latest trends and tools that can help you in your profession. Another benefit is the chance to fulfil your requirement for annual CPE credits, and yet another is to interact with peers and find out how others in your profession do their jobs and relate to their clients. There are downsides as well.
Gail Perry, CPA