News

A&A

Confirmation.com Audit Service Helps FBI Uncover Fraud Scheme

A North Carolina man who was the owner and operator of an investment fund that defrauded investors of approximately $6 million over a seven-year period agreed to plead guilty to securities fraud in US District Court on June 17.
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Education & Careers

Moss Adams Pledges $500,000 to Western Washington University

Moss Adams has pledged to donate $500,000 over the next five years to the College of Business and Economics at Western Washington University to help fund student scholarships and enhance faculty development opportunities.
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Tax

Soccer Star Lionel Messi: A Tax Mess or Example?

In soccer, he's the World Player of the Year. But lately, the Spanish tax authorities have turned the hot glare of suspicion on Lionel Messi, along with his manager/agent father, Jorge Horacio Messi.
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Tax

IRS Provides Few Answers to NSA on the Retirement of Two e-Services

The National Society of Accountants met recently with IRS officials to discuss why the agency is retiring the Disclosure Authorization and Electronic Account Resolution e-services products on August 11 and options to allow these services to be continued.
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Education & Careers

Surge Continues in Learning and Development Spending

In a recent study, Bersin by Deloitte found that overall spending on training rose 12 percent on average in 2012 – a sign that amidst greater financial stability, organizations are focused on reskilling their workforces.
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Education & Careers

USU Students Win Regional Beta Alpha Psi Competition

As any CPA knows, trying to explain accounting, the "language of business," to clients can sometimes be a difficult task. Now try to imagine explaining complex financial topics to a troop of Boy Scouts.
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Education & Careers

So You're Thinking of Joining a LinkedIn Group: 10 or so Tips for Getting the Most Out of the LinkedIn Group Experience

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Practice

Partner Succession - It's All about Client Transition, Retention

CPA firms are wrestling their way through partner retirements and the accompanying succession issues in numbers that the profession has never seen before. It's the baby boomer bubble, up close and personal.
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Tax

Sinbad's Mountain of Tax Debt: It Ain't So Funny

For comedian Sinbad, life hasn't been all that fun for the last several years. Right now he's in debt to the tune of nearly $11 million. Of this amount, more than $8 million is owed to the IRS and another $2.3 million to the state of California.
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A&A

FASB Approves Deferral on Certain Benefit Plan Disclosures

The FASB voted on June 12 to indefinitely defer certain disclosures about investments held by a nonpublic employee benefit plan in its plan sponsor's own nonpublic equity securities.
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Tax

Faith Evans' Tax Mess: More Blues than Rhythm

It sounds like small potatoes compared to other celebrities in tax trouble, but it's bad enough to pump up the blues for rhythm and blues singer Faith Evans. Evans is into the state of California for $29,535.48 relating to her 2011 income.
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Community News

Company Announcements: Week of June 17, 2013

Following is the latest roundup of community news for the week of June 17, 2013.
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A&A

NASBA Advises Private Companies Not to Use AICPA Framework

Stating that it would "significantly weaken the financial reporting of private companies," NASBA is recommending to privately held businesses that they not use the FRF for SMEs that was introduced by the AICPA June 10.
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Technology

Improving the Integrity of Excel's SUM Function

My unscientific observation is that the SUM function is the most widely used function within Excel spreadsheets. This function makes it easy to add up multiple cells at once without laboriously adding multiple cells together individually.
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Tax

Crime Watch: June 13, 2013

Melvin Mooring, a Gainesville, Virginia, accountant, was sentenced to six years in federal prison for stealing $3.3 million from the company where he served as the chief financial officer. He had pleaded guilty to wire fraud and tax evasion charges in March.
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Education & Careers

5 Tips & Tricks for Reviewers

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Tax

Acting IRS Head Daniel Werfel Receives Temporary Title Change

The acting head of the IRS will be given a different title until President Obama nominates a permanent commissioner for the tax enforcement agency. The title change is called for under the Vacancies Reform Act.
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Technology

ZenPayroll Adds Contractors to Its Cloud-Based Payroll Service

When ZenPayroll launched in 2012, its mission was to bring the power of modern software to the payroll industry through a Cloud-based service that's easy to use, comprehensive, and accessible 24/7 from any computer or mobile device.
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Practice

AAM Awards Distributed to Honor Top Marketing Firms

The Association for Accounting Marketing (AAM) distributed thirty-three Marketing Achievement Awards (MAAs) to twenty-three firms in recognition of their outstanding achievements in the areas of accounting marketing and communications.
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A&A

Three Private Company Accounting Proposals Backed by FASB

The FASB on June 10 endorsed three accounting proposals from the Private Company Council in the hopes of addressing concerns raised by stakeholders about the complexity of certain aspects of US GAAP for privately held companies.
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Pages

Voice of the Editor

Results from a recent AICPA survey disclosed the two top priorities for CPA firms as they plan for the future: bringing in new business and finding talent. Our goal at Sift Media is to help our readers deal with the issues most important to them. One way in which we are doing this is through the launch of our new recruitment/placement service, Going Concern Jobs. Check it out today for your talent needs.
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Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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This Week on AccountingWEB

Brian Fox, CPA, founder and CMO of Confirmation.com, explains how the company's electronic audit confirmation service helped the FBI uncover a $6 million fraud scheme.
Russ Wilson of Moss Adams talks with us about the firm's collaboration with WWU in educating and developing talented accounting and business professionals.
Plante Moran CPAs Gordon Krater, Alicia Sturtevant, and Susan Perline spoke with AccountingWEB about the firm's Women in Leadership initiative.
Jeff Thomson, CMA, president and CEO of the IMA, talks with us about the 2013 jobs market for accounting professionals.
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