April 28, 2011
Top News | Tax | Accounting & Auditing | Technology | Education & Careers | Fitness | Blogs | Watchdog
Welcome to the new edition of AccountingWEB's Weekly News Analysis. We've got a slight diversion for you this time around. Please check out this very quick (three multiple choice questions) accounting content questionnaire: http://www.accountingweb.com/survey.

Five entries will be selected at random to receive new Sift Media ball caps!

Now that Busy Season is over, many accountants are committing to some volunteer work. When I was at a public accounting firm, I fondly remember our tree planting day for a not-for-profit agency. It rained hard most of the day, but we got a huge load of trees planted!

In the words of basketball immortal John Wooden, "You can't live a perfect day without doing something for someone who will never be able to repay you."

Rob Nance
Challenges, best practices for the first XBRL filing
Thousands of small public companies will submit eXtensible Business Reporting Language (XBRL) financial reports, for the first time, with their regular June 15, 2011 filings with the SEC. Read More...
IRS gets serious about return preparer rules
The PTIN registration is the first step in a multi-year effort by the IRS to provide standards for and oversight of the tax preparation industry. Starting this fall, certain paid preparers will be required to pass a new competency test. Read More...
FASB issues proposed accounting standards update on testing goodwill for impairment
The Financial Accounting Standards Board (FASB) has issued an exposure draft of a proposed accounting standards update intended to simplify how an entity is required to test goodwill for impairment. Read More...
IRS turns up the audit heat again
The IRS is reporting that tax audits of individual taxpayers overall went up for the 2010 fiscal year. But that's not all. It appears that certain groups are being targeted. Read More...
Making the most of the law firm mixer
Many accounting firms regularly network with law firms and host or attend events with a group of attorneys for the purpose of growing each firm's or individual's respective practice. The challenge is how to make these very nice events deliver the results we want. Read More...
How to make your blog an effective firm marketing tool
The primary – and only – goal your firm's blog should have is for it to be a worthwhile marketing vehicle. If it is not, then you shouldn't bother blogging! Read More...
Florida CPA firm has a gym, wellness fair, and Biggest Loser competition
Everyone gets older, even firms. Kaufman Rossin & Co. is a company with a long history of keeping a fresh young attitude toward health and wellness. Read More...
New site explains what all of those crazy credential letters mean
Long confused by the alphabet soup of designations after the names of financial advisors, consumers now have a reliable resource to help them determine which credentials are rigorous and offered by leading institutions, as well as credentials awarded for attendance at one-day seminars. Read More...
Company announcements: Week of April 25, 2011
Following is the latest roundup of accounting community news for the week of April 25, 2011. Read More...
SEC releases special study on Sarbox 404(b) for smaller Public Cos.
The SEC has released a special study on implementation of Sarbanes-Oxley Section 404 (b) – the auditor's report on internal control over financial reporting – with respect to smaller public companies (specifically, accelerated filers with market cap between $75 million and $250 million). Read More...
Do we really have a social security problem, or is this just another heist?
Former Senator Alan Simpson, a former member of the Deficit Commission (the "Gang of Six"), referred to the federal government's $2.5 trillion debt to the Social Security trust fund for retiring Americans as "just a bunch of IOUs", indicating that he had no intention of honoring that debt obligation… Read More...
Falling dollar, higher inflation, debt ceilings… What does it all mean?
People continue to ask me for my opinion of what is happening with the budget deficit and debt ceiling. Why are food prices going up and the cost of gas surging? What is the economic future for our country? Read More...
Arizona enacts Tax Recovery Program (Amnesty)!
According to recent legislation (SB1616) enacted by the Governor of Arizona, the director of the department of revenue shall establish a tax recovery program or "Amnesty" program from September 1 through October 1, 2011 Read More...
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