A&A news September 2010

A&A

NYSSCPA's Barry appointed to AICPA Board of Trustees

Joanne S. Barry, CAE, executive director of the New York State Society of Certified Public Accountants, has been appointed as a member to the American Institute of Certified Public Accountants Foundation Board of Trustees.
A&A

INSIDE Public Accounting names nation's best accounting firms

Every year, INSIDE Public Accounting’s Best of the Best recognition honors 25 firms for their stellar management and superior operational performance on more than 50 criteria.
A&A

Obama signs bill designed to jump-start small business

President Obama signed into law this week the Small Business Jobs Act, which is intended to help small businesses by way of tax breaks and credits, as well as make it easier for small businesses to obtain much-needed loans and hire additional employees.
A&A

Greed is good: Wall Street sequel opens 23 years after original

More than two decades have zoomed by since Oliver Stone's blockbuster film Wall Street appeared on theatre screens across America, capturing the go-go 80s and the era's money-must-be-made vibe.
A&A

New IRS tax preparer regulations: What they mean for you

In June of 2009, the IRS began a review of tax preparers to investigate whether greater oversight was needed for those who collect compensation for preparing tax returns. The IRS released a report in December of 2009 giving recommendations on further oversight for tax preparers. How will the new regulations affect you?
A&A

What is known, unknown about financial reform law

At 2,300 pages, the Dodd-Frank Wall Street Reform and Consumer Protection Act is, by most definitions, a monumental piece of legislation. It also is one of the most sweeping reforms of the American financial system since the Great Depression.
AccountingWEB Life

Converting to a Roth IRA easier in 2010

A provision within the Small Business Jobs and Credit Act of 2010 passed by the House Thursday will allow participants in 401(k), 403(b), and 457 tax deferred plans to convert those savings into a Roth IRA account if employers sponsor a Roth IRA in their plan.
Tax

Small accounting firms could see large benefits from new tax legislation

A small-business jobs bill awaiting approval from President Obama that aims to boost billions of dollars of lending and investment to entrepreneurs and provides $12 billion in tax cuts to small businesses is getting mostly positive reviews from two small accounting firms.
A&A

Obama seeking additional spending before November elections

The Obama administration last week submitted to lawmakers a spending proposal that would cost, according to Republican estimations, between $20 billion and $30 billion.
A&A

Warren named Consumer Financial Protection Bureau czar

Is Harvard Law Professor Elizabeth Warren a pioneer of consumer financial protection issues or is she too critical of Wall Street and the banking industry? Americans will have to find out while she is on the job.
A&A

CAQ survey: Investors remain confident in U.S. companies and audited information

Despite fluctuating markets over the past year, individual investors remain confident in investing in U.S. companies that are publicly traded and in audited financial information.
A&A

SEC wants public companies to disclose more info about short-term borrowing

The Securities and Exchange Commission has voted unanimously to propose measures that would require public companies to disclose additional information to investors about their short-term borrowing arrangements.
A&A

PCAOB announces participants in roundtable on new proposed communications standard

The Public Company Accounting Oversight Board has announced the names of the participants in the roundtable discussion on its proposed standard on auditors' communications with audit committees.
A&A

Russell Golden appointed to FASB, replacing Herz

The Board of Trustees of the Financial Accounting Foundation has announced the appointment of Russell G. Golden to the Financial Accounting Standards Board, effective October 1, 2010. Golden will fill the board member vacancy on the FASB resulting from the retirement of Robert H. Herz
Practice

Financial management and new-world thinking

The playing field is evolving. Professional toolkits are morphing. And it’s all because of new discoveries in cognitive thought.
Practice Development

Growing your business

Selling doesn't work. The customers are in control. They decide what they want to buy. It's not about us or even our goods and services. It's about them, our customers, and how they buy.
Tax

Tax planning for 2010 remains uncertain

With the tax cuts enacted in 2001 and 2003 expiring at the end of 2010, many critical decisions remain up in the air. Congress has moved slowly on tax law in recent years but this year, watching paint dry or metal rust would seem speedy by comparison.
A&A

What’s hot for 2010 tax season?

The 2010 tax season is full of opportunities for tax professionals. The challenge is to keep up with the record number of federal tax updates and make sure clients can take advantage of them.
A&A

QuickBooks billing tips, tricks, workarounds

There are various tips, tricks and workarounds for handling professional billing using QuickBooks. Following are processes that work best for The Woodard Consulting Group and its clients.
A&A

CPE Link helping CPAs understand Health Care Act

The Patient Protection and Affordable Care Act will implement fundamental health care reforms and require most of the 32 million uninsured individuals to obtain health care coverage or pay penalties. The act contains more than $400 billion in revenue raisers and new taxes on employers and individuals.

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