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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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.