They say summer is the season for marriages, and our continuing
news of accounting firm mergers, listed in the Firm/State News
section of this e-newsletter, would seem to testify to that
fact. New firm combinations mean changes in the workplace. Not
only do firm members have to embrace a new group of colleagues
as their own, but cultures must merge, and clients must be made
to feel their interests will continue to be well-served.
There's much more to the merger than signing papers and moving
desks. Our best thoughts go out to those firms who have decided
it is in their interests to join forces.
Gail Perry, CPA
Texas's new margin tax - is it a business tax or an income tax?
Read and Respond Now
An accounting students wants to know how accounting information
system controls can promote efficiency or effectiveness.
Read and Respond Now
What have you got to say today?
Financial Reporting Blog
SEC's Complexity Committee Agrees On Report
Earlier today (July 11), the SEC Advisory Committee on
Improvements to Financial Reporting (CIFiR) passed all
recommendations in its Draft Final Report unanimously, with
some editorial changes....
Voices of the AccountingWEB Staff
Staying on top of the game
With all of us, there's a point in life where our skills reach
a summit and then begin to decline. I was made painfully aware
of this yesterday in a Dads vs. Sons baseball game....
Alex Vuchnich, CPA, CFE:
Profit Matters Blog
Greed, Ethics, Profitability
Within our profession there is a long standing tradition of
maintaining the highest level of ethical principles in our
professional and business practices. This is evident in our
professional code of conduct and the largely self-regulated
nature of the accounting profession. It implies that we
understand that in order to provide our services to the public
we have a responsibility to do so under certain self-imposed
restrictions on how we provide those services....
The Zone of Insolvency: How Nonprofits Avoid Hidden Liabilities & Build Financial Strength
by Ron Mattocks
Would you know if your nonprofit is in the Zone of Insolvency and understand the related legal responsibilities and
liabilities of operating in financial distress? Approximately one-third of nonprofits—more than 450,000 organizations—function
perpetually in the Zone of Insolvency, i.e., in financial distress, and approximately seven percent are completely insolvent. What
is the impact of hundreds of millions of dollars given to charitable organizations that operate in perpetual financial distress?
Do board members have an inherent obligation to keep nonprofit organizations in operation regardless of their financial condition,
or their mission effectiveness?
On July 8th, the IRS met with several major accounting firms
that have foreign offices - a group which is thought to include
Ernst & Young, PricewaterhouseCoopers, KPMG, Deloitte & Touche,
BDO Seidman and Grant Thornton - to solicit their help with the
Qualified Intermediary program. That program began in 2000 and
is designed to help the IRS track funds that may be secreted in
IRS warns of latest scam attempts
Congress working on bill to help homeowners
Imagine the strongman game at the carnival. You lift the
sledgehammer over your head and swing it down onto the
platform. When it strikes the target, a metal cylinder rises up
and up - 20 feet up the pole until it rings the bell. On its
way down the pole the cylinder passes the same words it passed
on the way up: strongman, tough guy, athlete, junior, and
'Why doesn't your old resume work anymore?'
Election Watch: Obama unveils $6 billion small business health plan
Indianapolis accounting firm Katz Sapper & Miller, has
announced plans to merge with another Indianapolis firm, Heaton
and Eadie, effective August 1, 2008. The newly-combined firms
will operate as Katz, Sapper & Miller.
San Antonio firm to merge with BKD
Michigan CPA firms announce mergeer
The American Institute of Certified Public Accountants is
offering a special two-day seminar, July 22-23, for financial
professionals on understanding and applying the new eXtensible
Business Reporting Language (XBRL) required for public
companies by the Securities and Exchange Commission.
Microsoft's had enough: Fighting back at Mac
Microsoft launches new software subscription service