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AICPA

New Resources for Auditors Available

Two new resources are available for auditors.
Tax

Tax Update: Motor Vehicles

The high cost of fuel is a popular topic these days. The debate over oil prices, however, obscures the fact that considerable legislative, regulatory, and legal action has been taken over the last year affecting motor vehicles, including the Energy Tax Incentives Act of 2005, the Safe, Accountable, Flexible, Efficient, Transportation Equity Act: A Legacy for Users (SAFETY), Rev. Proc. 2006-15, 2006-5, IRB 387, Rev. Proc. 2006-18, 2006-12 IRB 845, and Notice 2005-44, 2005-25 IRB 1287.
Practice

Professional Accounting Societies Applaud COSO Small Business Guidance

The American Institute of Certified Public Accountants (AICPA) and the Institute of Management Accountants have both affirmed support for new guidance for smaller public companies released during a webcast on July 11 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
A&A

CPAs Debate FASB’s Pension Draft

The American Institute of Certified Public Accounting (AICPA), state societies of Certified Public Accountants and accounting firms have expressed the views of many in the profession in comment letters published on the Financial Accounting Standards Board’s (FASB) web site on the Exposure Draft of the Proposed Statement, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans.
Technology

Rivet's XBRL Analysis Tool in Sync with AICPA's Enhanced Biz Reporting Effort

Denver-based Rivet Software has taken another step forward as the accounting professions’ most prominent developer of eXtensible Business Reporting Language (XBRL) technologies and has further intertwined its business future with the American Institute of Certified Public Accountants (AICPA) by rolling out a business analysis software suite.Like all of Rivet’s products, it’s new Interactive Financials (i-Fi) Suite leverages XBRL, which is the business report version of the EXtensible Markup Language (XML) platform for coding individual items within documents so that they can be immedi
Community News

Auditors Spotlighted As Options Scandals Come To Light

Auditors are in the spotlight as the number of stock-option scandals expands. It seems the manipulation of option prices was more common than previously believed.

AICPA Brings XBRL Closer to Reporting Improvement Effort

The American Institute of Certified Public Accountants’ (AICPA) merger of the management of its Extensible Business Reporting Language (XBRL) development and Enhanced Business Reporting (EBR) initiatives may be more than just a reshuffling of operational hierarchy.

Government in Canada Wants Better Access for Internationally Trained Accountants

Legislation that that will standardize and ensure fairness for the licensing process in Ontario for internationally trained professionals, including accountants, was introduced on June 8 by Mike Colle, the Province’s Minister of Citizenship and Immigration, the Toronto Sun reports.
Education & Careers

Tight Job Market Can Mean Increased Workloads for Accountants

Demand for accountants continues to exceed supply in 2006, and while employers are offering higher salaries and more benefits in an effort to keep their employees, low staffing levels are creating high pressure and resulting in even longer hours for many accountants, Times Argus reports. Finance professionals who feel overworked rose from 42 percent in 2004, to 53 percent this year, according to a survey from CareerBuilder.
Community News

InfoBytes Becomes CPExpress as AICPA Enhances Online CPE Library

The American Institute of Certified Public Accountants (AICPA) is re-releasing their popular online learning library of continuing professional education materials as CPExpress. Advertisement
Practice Management

AICPA Announces FlexWise to Help Members with Flexible Work Arrangements

Leslie Murphy, chair of the American Institute of Certified Public Accountants (AICPA), formally announced the FlexWise program during her presentation Monday at the Institute’s Practitioners Symposium in Las Vegas.As employers across the country deal with retention issues, more and more are turning to flexible work arrangements to keep talented employees.

Hiring Tips: “CPA Wanted” Classifieds Don’t Cut It in Today’s Talent Wars

With the battle for accounting professionals at all-time highs across the country, and with business growing faster than the pool of available talent, firms looking to hire good people must approach recruitment from an entirely different perspective.
Technology

Sage Quantum – Accountants’ Edition Launched at AICPA Tech 2006

Sage Software announced Peachtree by Sage Quantum – Accountants’ Edition, available exclusively to members of the Sage Software Accountants Network, on Monday at the American Institute of Certified Public Accountants (AICPA) Tech 2006, in Austin, Texas.
Technology

CPA2Biz Joins Internet Retailer’s Top 500 Retail Web Sites

CPA2Biz has been named to the Internet Retailer Top 500 guide to Retail Web Sites which ranks companies according to 2005 online sales data. With less than a month remaining in the fiscal year, CPA2Biz is trending toward profitability for the second consecutive year.
A&A

Historic AICPA/FASB Joint Proposal Aims to Improve Private Company Financial Reporting

The Financial Accounting Standards Board (FASB) joins the American Institute of Certified Public Accountants (AICPA) today in announcing a joint proposal exploring the development of accounting standards for privately held companies.
Practice Management

Mark Your Calendar: PCPS Debuts New Practice Management Forum

The Private Company Practice Section (PCPS) of the American Institutes of Certified Public Accountants (AICPA) is debuting a new series of online practice management forums with How to Identify and Manage Your Firm’s Key Profitability Drivers featuring Jeffery Pawlow, CEO of The Growth Partnership, on Wednesday, June 7, 2006, from 2 p.m. to 3 p.m. Eastern time.
Community News

Karen Pincus Earns Distinguished Achievement in Accounting Education Award

“The future of our profession is built on the quality and the number of the young people who join us,” Leslie Murphy, American Institute of Certified Public Accountants (AICPA) Chair explained while presenting the Distinguished Achievement in Accounting Education Award to Karen V. Pincus, Chair of the Department of Accounting at the University of Arkansas. “That, in turn, depends on whether quality people decide to study accounting and how well they are trained in their collegiate and post-collegiate education.

Saudi Best Practices Lead Arab World

Dr. Ahmed Bin Abdulla Al Moghames will address the World Accounting Summit being held the last week in May in Dubai. He is the Secretary General of the Saudi Organization for Certified Public Accountants (SOCPA). The local challenges of international finance convergence and the misconceptions of Saudi accounting ethics will be the subjects of Dr. Al Moghames’s address to the summit. “People think that accounting in Saudi Arabia is weak, and that our standards come from nowhere. But those who don’t know can’t judge.
A&A

Sales tax compliance costs hit hard on SMBs

In what offers the faint hint of another area where accountants can assist small and midsized (SMB) clients, a government and business study has found that the costs of complying with state sales tax regulations is a financial burden for all retail businesses and hits especially hard on the smallest.
Tax

AICPA Offers Credit Monitoring After Loss of Computer Hard Drive

The American Institute of Certified Public Accountants (AICPA) has told members that a computer hard drive containing names, addresses and Social Security numbers has been lost.Advertisement

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