AccountingWEB.com

AICPA Creates Social Networking Site for Aspiring Accountants

Wed, 08 Feb 2012 17:20:45 +0000

By AccountingWEB Staff

Joint Committee on Taxation Releases Backgrounder in Advance of House W&M Hearing on Interaction of Tax, GAAP on Tax Reform

Wed, 08 Feb 2012 03:47:48 +0000

In advance of Wednesday's (Feb. 8) Congressional hearing on the interaction of tax law and financial accounting standards, in particular as may relate to behaviors (corporate actions) arising from either or both, and specifically in the context of the potential resulting impact on tax reform, the Joint Committee on Taxation released a related background paper earlier today (Tues. Feb. 7).

Internet Advertising Revenue: What State Gets It?

Tue, 07 Feb 2012 23:58:08 +0000

Internet advertising - everyone is doing it.

What do I mean? Well, it has become commonplace for certain types of companies to allow other companies to post "ad impressions" or advertisements on their websites. By allowing these other companies to advertise on their site, they are creating "advertising revenue."

THE QUESTION

How Confident are you When Researching Tax Questions?

Tue, 07 Feb 2012 21:20:51 +0000

Where will you find one sentence that is nearly twice as long as the entire Gettysburg Address? The Internal Revenue Code, of course. The Gettysburg Address is 278 words, while one whopper of a sentence in the IRC exceeds 450 words. And this isn’t the only instance of a long and confusing sentence! The IRC, with its 4 million words, is full of mind-bending sentences about limitations that hinge on combinations of multiple variables. Think algebra!

IRS Casts Bait to Reel in Taxpayers with Offshore Accounts

Tue, 07 Feb 2012 18:54:33 +0000

By Ken Berry

AccountingWEB Readers Find Time Management a Challenge

Tue, 07 Feb 2012 14:19:47 +0000

By AccountingWEB Staff

Intuit Small Business Employment Index Results

Mon, 06 Feb 2012 21:26:26 +0000

Small businesses created 50,000 new jobs in January but paid employees less and gave them fewer hours. The East Coast, especially New York, showed more weakness in employment than in other parts of the country.

Paging All Capitol Hill Staffers: Pay Your Taxes!

Mon, 06 Feb 2012 19:17:57 +0000

By Ken Berry

Mitt Romney isn't the only one in Washington, DC, with his tax returns under the microscope. According to new data released by the IRS, 3 percent of Senate employees and more than 4 percent of House members in our nation's capital still owe tax for the 2010 tax year, adding up to approximately $10.6 million in unpaid taxes.

Overall, this is practically a drop in the bucket when compared to the $1.03 billion in taxes owed by roughly 98,000 federal, postal, and congressional employees throughout the country.

Free Career Exploration Program for Ohio Minority Students

Mon, 06 Feb 2012 18:02:29 +0000

By AccountingWEB Staff

Sensiba San Filippo: Winner of Fittest Accounting Firm 51+ Members

Mon, 06 Feb 2012 16:04:04 +0000

By Deanna C. White

"What Do You Do?"

Mon, 06 Feb 2012 14:30:19 +0000

"What do you do?" is a common question you often receive, but how do you answer it? I know there have been countless articles on "elevator speeches," etc. But how do you explain what you do to people who are not familiar with your field so they can actually understand what it is you do?

Company Announcements: Week of February 6, 2012

Sun, 05 Feb 2012 19:38:59 +0000

Citrin Cooperman announced that partner Scott Rutter has been named cochair of the board of directors for the Real Estate Networking and Transactions Group (R.E.N.T.), a New York-based organization for professionals in the real estate and allied industries. Rutter also will continue to serve as treasurer for the organization, on whose board he has served for six years.

Accounting Firms Merge and Expand in Dallas

Fri, 03 Feb 2012 21:57:21 +0000

On February 3, 2012, Austin-based PMB Helin Donovan LLP (PMB) announced its merger with Vink Teague & Associates LLLP (VTA). The firm will operate under the PMB Helin Donovan name.

Ernst & Young Hosts Events to Enhance Diversity and Inclusiveness

Fri, 03 Feb 2012 21:48:30 +0000

By Anne Rosivach

Nearly 150 ethnically diverse students from 73 campuses in the United States traveled to New York City to attend Ernst & Young LLP's (E&Y) sixth annual Discover Ernst & Young event January 4–6. Accounting and business majors interacted with firm leaders and E&Y personnel, who were eager to present the challenges and exciting potential of an accounting career at E&Y.

Jeanette Franzel Named to PCAOB Board

Fri, 03 Feb 2012 21:04:10 +0000

Earlier today, SEC Chairman Mary L. Schapiro announced the appointment of Jeanette M. Franzel to the PCAOB board. Franzel, currently a Managing Director at the U.S. Government Accountability Office (GAO), fills the vacancy created when board member Dan Goelzer's term ended; Goelzer remained on the board pending the naming of his replacement.

House Ways and Means Sets Hearings on Tax and GAAP

Fri, 03 Feb 2012 20:58:33 +0000

The House Ways and Means Committee, chaired by Rep. Dave Camp (R-MI), has annouced it will convene two hearings on the interaction of tax policy and U.S. Generally Accepted Accounting Principles (GAAP). The first hearing will take place on Tues. February 8.

Fresh perspectives in health care

Fri, 03 Feb 2012 19:00:06 +0000

The topic of the 8th annual Connected Health Symposium was timely: Driving Quality Up and Costs Down: New Technologies for an Era of Accountability. Nevertheless, what made it a great conference were the fresh perspectives it brought to the fore.

Measurement, analysis, and communication are imperative

Efficient Tests of Balances Series—No. 11: Considering Risk when Calculating the Lower Limit for ISIs

Fri, 03 Feb 2012 18:44:48 +0000

In my previous blog, I briefly discussed the impact of risk on the nature of the tests of balances procedures for accounts receivable. The assessed levels of risk of material misstatement at the assertion level also will determine the number (extent) of necessary accounts receivable confirmations from both sampling and non-sampling plans. Risk determines tolerable misstatement at both the financial statement and assertion levels; tolerable misstatement is the basis for the lower limit of individually significant items. Following is an example of the calculation process.

Lessons from Lehman: It's All about Confidence

Fri, 03 Feb 2012 18:44:45 +0000

By Alexandra DeFelice

Most Say It's Wrong to Cheat on Taxes; Some Say It's Okay

Fri, 03 Feb 2012 17:31:24 +0000

By AccountingWEB Staff