Virginia news

Education & Careers

Colleges and universities must be ethical

The actions of colleges and universities provide examples to their students of how to act with – or without – a high level of ethical standards. From grading practices to sustainability, these institutions need to be cognizant of the message they send.
Education & Careers

Improving accounting students’ writing skills

All of us who teach or advise students know about their dislike for writing papers. These students are under the false impression that accountants do not have to write, or at least not much.
Education & Careers

Class notes: Accounting education in 2010

Accounting students and recent grads face several important issues including changes to the CPA Exam in 2011, the continuing internationalization of the accounting curriculum and practice, codification of GAAP, and the general health of the accounting profession.
A&A

Virginia CPAs offer tips on preparing financially for disaster

Peak hurricane season for Virginia and the Mid-Atlantic States has arrived. While it’s unsettling to think a natural disaster could affect you, emergencies can and do occur.
Tax

IRS can spell tax relief for disaster victims

"I'm from the government and I'm here to help you" may be regarded by some to be the most terrifying words in the English language, but not so when you are dealing with a disaster.
Tax

One IRS attacker goes to prison, others under investigation

Frustration with the Internal Revenue Service is nothing new. But in recent months, acts of violence and inappropriate treatment of agents are escalating.
Practice Development

Measuring the effectiveness of in-house training

Accounting firms that offer training programs in house for staff and management want to ensure that individuals meet continuing professional education requirements. At many firms, training programs encompass larger goals and are at the core of a firm’s culture.
A&A

Businesses await new standard for lease accounting

The Financial Accounting Standards Board and the International Accounting Standards Board are on track to publish the final version of a common standard on lease accounting during the second quarter of 2011. The standard could go into effect as early as 2013.
A&A

D.C. launches amnesty program waiving penalties, fees on back taxes

Delinquent taxpayers will get a rare opportunity to pay outstanding taxes and interest to the District of Columbia, have their penalties and fees waived, and avoid criminal prosecution. The DC Tax Amnesty program will run from August 2 through September 30, 2010.
Community News

KPMG Foundation awards $470,000 in scholarships

The KPMG Foundation this week announced it has awarded a total of $470,000 in scholarships to 47 minority accounting doctoral students for the 2010-2011 academic year.
Tax

Revenue worries don't stop states from offering tax holidays

Taxpayers in 16 states will get sales tax breaks on the purchase of various school-related purchases during certain dates in July and August.
A&A

Five ways to get sued

Here are the top five ways CPAs can make themselves vulnerable to litigation.
Tax

Block and Liberty: A marriage in the tax prep industry?

John Hewitt, founder of Liberty Tax Services, is reaching out to H&R Block to see if there might be a commercial marriage in their future.
A&A

CPE mid-year 2010 update: Rules, regulations, trends

Mid-year 2010 has arrived and accountants in approximately half the jurisdictions in the United States are facing compliance deadlines. Tax time is well behind us and crunch time for compliance is here.
Tax

Celebrity chef violates “clean hands” rule

Roberto Donna is a celebrity chef in the Washington, D.C. area, having won a James Beard Award in 1996 for his legendary restaurant, Galileo. He is looking to reopen Galileo in a new location, but authorities are telling him, "Not so fast." He can’t pass the clean-hands test.
Tax

More whistleblowers needed, organizational transgression appears to be growing

Whistleblowers are still a major source for uncovering fraud and wrongdoing within companies, but being a whistleblower is a difficult, arduous process with an uncertain conclusion.
Practice Development

The Virtual CFO: Using payments/banking technology to increase value

Business owners need more help than ever to manage cash flow and budget expenses – and 68 percent say they are looking to their accounting and financial partners to provide this help, according to a SunTrust survey.
Tax

Fear factor: Intimidating print, TV ads used in amnesty program

Tax amnesty can be an effective way for a taxing authority to quickly fill its coffers, clear a lot of names off the delinquency list, and help balance the budget. States do it from time to time, though critics warn that it can undermine regular collections if taxpayers begin to sense a pattern.
Education & Careers

SIFE members' passion for business can be powerful force for change

Students In Free Enterprise, an international non-profit network of students, academics, and business leaders working with businesses and higher education organizations, is in the midst of its regional and national competitions.
Education & Careers

Jobs least difficult to find in San Jose, CA, and Washington, D.C.

Times are tough all over, but finding employment is least difficult among the largest 50 U.S. cities in San Jose, California, and most difficult in the Detroit metropolitan area, according to the Job Search Difficulty Index released this month by Juju.com, an online job search engine.

Pages

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
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