A&A news December 2011

A&A

IMA Ready to Compete with AICPA/CIMA Management Accounting Designation

The IMA, which has offered the CMA credential since 1972, is facing "fierce competition" from a new management accounting designation – Chartered Global Management Accountant (CGMA) – that the AICPA and CIMA will launch in January 2012, according to Jeffrey Thomson, IMA President and CEO.
A&A

NC State University Students Win AICPA National Accounting Competition

On December 17, the AICPA named seventeen students from North Carolina State University winners of the AICPA National Accounting Competition. The case competition focused on a fictional Texas company looking to expand its business into the Nigerian oil fields. The team received a $10,000 award.
Tax

Web Sites Designed for Accountants by Thomson Reuters & Emochila Team

On December 9, Thomson Reuters announced it had acquired Emochila, a leading Web site design company that works specifically with accounting and tax firms. Thomson Reuters and Emochila will now work in collaboration to assist accounting professionals in creating and maintaining their Web sites.
Practice

AICPA Panelists Examine Economic Outlook Survey Findings

AICPA Business and Industry Economic Outlook Survey measured nine components All nine components showed modest improvement in the fourth quarter Survey revealed increased optimism that the US economy will improve in 2012 AICPA Webcast, "Looking Ahead to 2012: Progress of Paralysis?" covering the survey to be made available
A&A

IFRS Update: SEC Decision Still Months Away

James Kroeker, the SEC chief accountant, said last week that the SEC staff will need "at least a few more months" to complete its work on a report to the commission that will show the impact of adopting IFRS on US companies and capital markets. The SEC will study the staff report before making a decision.
A&A

QuickBooks 2012: What’s New and Improved

If you or your clients use QuickBooks Pro, Premier, or Enterprise, you'll find that QuickBooks 2012's new features will help you gain new insights into financials, get more organized, and save time and steps.
A&A

Clowning CPA Gives Back to Community

There's more on Edward Estrin's resume than his thirty-five-year career as a CPA and his tenure as president of the CalCPA. He's also a professional clown, who brings joy and laughter to sick children, senior citizens, and the men and women stationed at the Marine Corps Base Camp Pendleton.
Technology

Three Irreverent Time Management Strategies for the Digital Era

Getting through your to-do list faster isn't what time management is about – at least not anymore. After all, this is the digital era! Rather than managing our existing time as if it was finite, we need to find ways to multiply it and make our lives better.
A&A

Bank Controls Lacking, Regulation Insufficient

Significant losses by banks have demonstrated the need for improved risk management and internal controls to avoid past mistakes. To be successful, these changes require a stronger ethical culture, not more of the same regulatory actions that failed in the past.
A&A

Updated Statement on Standards for CPE Programs To Be Released

Final recommendations for revisions to the Statement on Standards for CPE Programs – the framework for the development, presentation, measurement, and reporting of CPE programs – will be presented to the NASBA and AICPA joint CPE Standards Committee in January 2012.
AccountingWEB Life

Cybercrime - No One Is Immune

Organizations and their managers need to take cybercrime seriously. According to PricewaterhouseCoopers' economic crime report, "Cybercrime: Protecting Against the Growing Threat," businesses face serious threats from cybercriminals, from both within and outside their organizations. The PwC report warns that cybercrime one of today's top four economic crimes.
Tax

CBA Elects Michael Savoy Secretary/Treasurer

Michael Savoy, CPA and the managing director of Santa Monica–based Gumbiner Savett Inc., has been elected the California Board of Accountancy's secretary/treasurer for 2012. In this position, he will help drive the organization forward and keep its finances in sound shape. Savoy has been a CPA for thirty-seven years.
A&A

AICPA Awards $233,300 to Seventy-Eight Minority Accounting Students

The AICPA Scholarship for Minority Accounting Students program began in 1969, with the aim of increasing ethnic diversity in the CPA profession. Since the program's inception, the AICPA Foundation has awarded more than $14.6 million in scholarships to approximately 8,000 accounting students.
A&A

New Jersey State Board Waives Requirement for CPA Exam

The New Jersey State Board of Accountancy is sorting out confusion over the CPA Uniform Exam requirements in the state.