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April 23, 2009


Publisher's Note
I haven’t read “Outliers: The Story of Success” by Malcolm Gladwell yet, but I really think I should. About a dozen accountants have told me this a great book--one that should jump to the top of any business person’s reading list. What great books have you read this year? What books are on your summer reading list? Well, let’s start that summer reading list right here! Click here to contribute and also see what other accountants plan to read this summer.

Rob Nance
Publisher
AccountingWEB, Inc.

publisher@accountingweb.com



Don't Shoot The Accountant . . .

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Questions & Advice

Available for Sale Securities: US GAAP vs IFRS

I was just wondering if anyone can go into a little detail about the differences of handling AFS securities for both IFRS as well as US GAAP.
Add your input!

Set up a Budget

I have a client that has just decided he wants a budget in place. He has never had one in the past. How do I start a budget for him for 2009 going forward? What information do I need? I have a P&L that I can pull and a Balance Sheet too. They only have things such as payroll, sub contractors, rent, and various small bills.
Share your suggestions!

Loan from one company to another

My client was an LLC and he has now started an S-Corp. Due to the payroll not being setup under the S-Corp yet I have to take the money from the S Corp bank account and move it to the LLC bank account to cover payroll until the account is setup in for payroll in the S-Corp which should be in a week. With this money being transfered as such is this considered a loan from the LLC to the S-Corp? When I write a check from QuickBooks would I say "Loan to S-Corp"? Also since we are going to dissolve the LLC if this is a loan from LLC does the S-Corp have to show it paid back the LLC, how would that work?
Add your input!


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This week's CPA review

Featured links
Tax and Audit Staff Training from Industry Leaders AuditWatch and PPC
Specialty Taxes: Estate and Gift and Employment Taxes – Free Webcast May 12
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Top News

11th annual Rosenberg MAP Survey open for participation

The Rosenberg Associates, a management consulting firm to the CPA industry, is pleased to announce survey input forms are now being accepted April 20 through June 1 for the 2009 Rosenberg MAP Survey of CPA Firm Statistics. more >>
Small businesses say retirement plans are still excellent benefits
Revamp your communications plan and increase revenues
U.S. and Switzerland begin negotiations for tax information exchange
Tax and Audit Staff Training from Industry Leaders AuditWatch and PPC

With the time-tested AuditWatch University, the brand new TaxWatch University, and additional special topic seminars, we help you keep pace with an ever-changing industry. Training is available on-site for your firm, and in public seminars in over 20 cities nationwide.

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Featured Articles
A Conversation with David Cottle: Author of Clients4Life

Accountants need to do a one-eighty if they want greater success. That's the advice of CPA consultant, public speaker, and author, David Cottle. more >>
Real Life: Funny stories from the busy season
Castroneves found not guilty of tax evasion
Alexis Stewart, Martha's daughter, suing CPA over tax return
The Tax Show for the Tax Pro Free Webcast Sponsored by the IRS

Next Program:
Specialty Taxes: Estate and Gift and Employment Taxes Tuesday, May 12, 2009, 2:00 p.m. to 3:40 p.m. ET

More Program Information

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Firm/State/People News
Procrastinators take heart: The experience of the late tax filer is universal

For all you procrastinators out there who look upon April 15th with a dread similar to what George Bailey felt when the IRS showed up in Bedford Falls, you are not alone. more >>
Morton's Steakhouse appreciates CPAs
Chicago firm receives highest rating in peer review
Advertise in the Weekly News Analysis E-Newsletter
Many advertising opportunities are available
Contact Diane Williams, Sales Manager
866-688-1678 x 17 or e-mail dwilliams@accountingweb.com
CPE Webinars by David Ringstrom, CPA
Save big money when you register for multiple sessions


For information on more upcoming webinars,
visit the links below:

Excel Speed Tips
Tuesday, April 28
Mastering Excel Pivot Tables
Tuesday, May 12
SQL for Excel Users
Tuesday, May 19
Excel 2007: Filtering and Formatting Data
Thursday, June 4
Easing the Transition to Excel 2007
Thursday, June 11
Automating Excel-based Financial Statements
Thursday, June 18

And Many More... Click here to see the full season.

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