June 10, 2008  

Editor's Note

While we all shudder at the price of gasoline, especially as we plan our summer getaways, we can depend on one thing - prices aren't anywhere near peaking yet. Our top story today features advice from some CPA financial planners about saving money on fuel. How have you chosen to face the rising costs? Car-pool? Telecommute? Purchase a Harley? Grin and bear it? Please share your tips with us and we'll continue to keep you posted with new ideas for surviving in the new economy.

Gail Perry, CPA
Managing Editor, AccountingWEB.com

Questions & Advice

Mary Zankl offers some advice to James Gooding on Vacation Accruals

Read and Respond Now

AccountingWEB Blogger Liz Zitzow offers suggestions to Peter Lundstedt about capital gains when moving across the pond.

Read and Respond Now

Recent Supplements
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Excel Zone
Tax Zone

Bloggers Crew
What have you got to say today?

Eva Rosenberg, MBA, EA:
Talk to TaxMama

I am going to sue!
Someone just told me a story that just got my juices flowing. It's one of those things where you really wish you were there to talk to the client. It's not an uncommon story, though. You've probably heard it, too. More frequently than you'd like. At the end of this story, I'm going to give you the lines to use next time you are faced with a call like this....

David Tate, CPA, Esq.:
The Legal & Accounting Blog

Audit Committee, CEO, CFO, Internal Audit, Outside Auditor Hypothetical
The following is a hypothetical based at least in part on a real occurrence. How do you believe the various parties should handle the situation? 1. The internal auditor and the CEO disagree about whether an item should be booked currently, or left as an unadjusted error and booked over time....

Alex Vuchnich, CPA, CFE:
Profit Matters Blog

Will the Risk Standards be a Fad?
I realize that the risk assessment standards are here to stay as part of our auditing standards, but what I am wondering is whether the impact of the risk assessment standards will virtually disappear by the end of the 2008 calendar year....

Emerging Real Estate Markets: How to Find and Profit from Up-and-Coming Areas
by David Lindahl

How a Dirt-Poor Landscaper Cracked the Code to Emerging Market Real Estate Investing - and Built a Financial Empire.

While many real estate markets have cooled off, there are major hot spots throughout the country that are booming due to population growth and urban expansion. These emerging markets are where the next wave of big-time real estate profits will be found. In Emerging Real Estate Markets, David Lindahl shows you how to find these markets, get started investing with little of your own cash, and maximize your profits.

Top News

CPAs offer advice for cutting fuel costs

Now that the average cost of a gallon of gas is hovering around $4, are you thinking about buying a more fuel-efficient vehicle? The American Institute of Certified Public Accountants advises that you consider all the costs involved in trading in the old for the new. more

IRS improves Online Payment Agreement application
FASB issues Exposure Draft on Accounting for Hedging Activities
FASB will add disclosure requirements to Statement 140

Small Business News

Marketers Unite!

The first Association for Accounting Marketing (AAM) annual conference I attended was in 2001 in Toronto. Last week's gathering in San Diego was a stark contrast. Oh, sure, some things haven't changed, such as few CPAs in the mix. These conferences are outstanding opportunities for a firm's managing partner to accompany the marketing director they are sending. Hopefully, someday that will be the norm rather than the exception. more

SBA shows its color - turns out it's green
10-minute checklist for reviewing your firm's Web site

2008 Not-for-Profit Update

Wednesday, June 18, 2008 9:00 AM Central
This program is sponsored by Business Professionals' Network, Inc. Business Professionals' Network, Inc. is registered with the National State Board of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors under #107810. The Accounting CPE Network (ACPEN) is a consortium of 34+ state CPA societies that has been developing high quality, professionally produced CPE since 1997 using Internet webcasting, satellite delivery and the latest recording technology. The ACPEN network is owned and operated, for state societies, by the Business Professionals' Network, Inc. (BPN).For more information about affordable, flexible, and convenient ACPEN CPE, available courses, and in house product lines, contact ACPEN.

Those practicing in the not-for-profit environment are faced today with new challenges daily. Learn what you need to know about the latest and most important developments affecting non-profit organizations from a panel of national experts. Review the latest developments affecting both tax and GAAP issues for these specialized entities.

Our panel of experts will address the most recent AICPA audit and accounting guidance affecting Not-for Profits and the work of the Accountability Task Force. This year’s course will have a special focus on the proper preparation and completion of the new IRS form 990 series forms and schedules. You will also receive a refresher on Unrelated Business Income Tax (UBIT) and, at a time when the IRS is focusing more attention on non-profits, learn the most effective techniques for preparing for an IRS audit and handling the audit itself. Get the latest on Intermediate Sanctions, Executive Compensation and 501(c )(6) issues.

Firm/State News

Deloitte tax partner wins AICPA Tax Division Distinguished Service Award

Alan R. Einhorn has received the American Institute of Certified Public Accountants Tax Division 2007-2008 Distinguished Service Award. The award was presented by Jeffrey R. Hoops, chair of the AICPA Tax Executive Committee, at the Spring Meeting of the AICPA Tax Division in New Orleans, Louisiana on June 2. more

Rowe & Deming, LLC expands presence in greater Portland area
Schneider Downs expands team
Rene Stranghoner named Marketer of the Year

Tech News

Microsoft announces $1 million commitment to minority accounting association

In an effort to further diversity efforts, Microsoft Corp. recently unveiled a $1 million commitment of cash and software over the next three years to the National Association of Black Accountants Inc. (NABA). The multifaceted commitment is an extension of Microsoft's longstanding relationship with NABA. more

Windows XP operating system will still be offered on certain computers
Microsoft introduces two new training and certification programs

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