A&A news January 2012

A&A

Governments and Private Companies Exploring Benefits of XBRL

Congress is beginning to mandate the use of XBRL to track spending and improve transparency in government reports. Bills that contain language calling for the implementation of data standards, such as XBRL, have not yet passed into law, but the requirement could become part of the final payroll tax cut bill.
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A&A

The Economy – Americans Feeling Better, CEOs Feeling Gloomy

Is the economy getting better or worse? It depends on who you ask. Two recent polls show that Americans are beginning to feel a bit better about the economy, but CEOs are feeling gloomy. For the first time in almost a year, more Americans say the economy is getting better than those who say it’s getting worse.
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A&A

Talk of Taxes and Economic Growth Rose above Fray at Florida Debate

On January 23, the remaining contenders for the GOP presidential nomination hit the ground running in Tampa. Romney and Gingrich dominated the debate and traded barbs over character and electability. But, despite the fireworks, core issues – tax reform, deregulation, and economic growth – were discussed.
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A&A

Review of the PCAOB's Enforcement and Investigations Program

In his January 2012 letter to Mary Schapiro, chairman, SEC, James Doty, Chairman, PCAOB, stated, "I am pleased to transmit to you a summary of the PCAOB's most recent performance review, Review of the Public Company Accounting Oversight Board's Enforcement and Investigations Program."
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A&A

SEC Seeking Public Comment on Dodd-Frank Financial Literacy Study

The Securities and Exchange Commission is requesting public comments on financial literacy and investor disclosure issues that it is studying as part of a review mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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A&A

Enhancing Your Clients' Experiences

What does the Ritz-Carlton do, that other hotels don't, that makes your stay with them such a memorable experience? The hotel chain has instilled a culture of treating guests like royalty.
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A&A

AAA Warns: Watch Your Language on Earnings Reports

Last month, when a pension fund owning stock in Bank of New York Mellon brought suit against that financial behemoth, the fund not only took aim at the bank's allegedly fraudulent currency trading, but it cited a variety of upbeat claims in its SEC filings that the plaintiff considered highly doubtful.
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Tax

Video News Update for Week of January 9, 2012

AccountingWEB's Weekly News Update for the week of January 9, 2012 is available in video format!
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Practice Development

Paychex Introduces Website to Spur Small Business Development

In the more than forty years Rochester, New York–based Paychex, Inc. has been in business, its mission has been to provide excellent payroll, human resources, and benefits outsourcing solutions to the backbone of the American economy – small and medium-sized businesses.
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A&A

FASB Is Viewing Private Company Standards through a Different Lens

In advance of a formal decision by the FAF on a differential framework for making exceptions and modifications to GAAP for private companies, the FASB has taken steps to identify and make decisions/tentative decisions regarding current accounting standards.
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Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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This Week on AccountingWEB

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
WestArk RSVP and Fayette County Community Action Agency – organizations that received grant funding through the IRS Tax Counseling for the Elderly (TCE) program – spoke with AccountingWEB about how they assist senior citizens in their communities.
CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.
Retiring KPMG Centennial Professor of Accounting at the University of Texas at Austin McCombs School of Business Robert May, PhD talks with AccountingWEB about his rewarding forty-three-year career.
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