Recently added articles from Pennsylvania CPA Journal:
Change Seems to be the Only Constant
Jul 01, 2008; ... For many, summer means a change of scenery. Who knows? Maybe you are enjoying this issue on a beach somewhere. This idea of a summertime change of scenery fits well with this issue, which, I believe, has this common thread of "change" running through it. The world continues to evolve ...
PROFESSIONAL ROUNDUP
Jul 01, 2008; ... Recent Developments in the Accounting Profession Big Four Exec Calls for IFRS Adoption Dennis Nally, U.S. chair and senior partner for Pricewater-houseCoopers LLP, joined the list of those calling for the adoption of International Financial Reporting Standards (IFRS). In a recent ...
Working through Benefit-Responsive Investment Contract Guidelines
Jul 01, 2008; ... The Financial Accounting Standards Board's (FASB's) Staff Position (FSP) AAGINV-1 and SOP 94-4-1, which is effective for periods ending after Dec. 15, 2006, significantly changed the reporting of certain guaranteed investment contracts in the financial statements of defined contribution pension ...
Consider VDAs to Manage Tax and Financial Statement Exposure
Jul 01, 2008; ... Over the past several years, the focus for many CFOs, controllers, and tax directors has shifted from rate reduction to risk management. One way to reduce state tax reserves and related risk due to FAS 109/FIN 48 and FAS 5 is through voluntary disclosure agreements (VDAs). VDAs can be entered ...
The Jelke Reversal Won't Keep You "Trapped-in"
Jul 01, 2008; ... The Federal Court of Appeals, Eleventh Circuit, reversed the Tax Court's decision regarding the Estate of Frazier Jelke III(1) on Nov. 15, 2007. Business appraisers, especially those performing valuations for the purposes of estate and gift tax, will be pleased with the prospect of taking a 100 ...
Win the Battle to Retain Good Employees
Jul 01, 2008; ... Demand for the next generation of finance professionals has skyrocketed, largely due to an increase in corporate governance regulations and the impending retirement of baby boomers. Within this high demand for quality professionals, there is a bigger question: how does a company keep the quality ...
IFRS Gaining Ground as a Global Standard
Jul 01, 2008; ... Call it the next British Invasion. The clamor over the International Financial Reporting Standards (IFRS) published by the London-based International Accounting Standards Board could create a sea change in the way U.S. companies conduct financial reporting and other business ...
Accounting for Environmental Remediation Liability
Jul 01, 2008; ... The Governmental Accounting Standards Board's (GASB's) Standard No. 49 requires state and local governments to estimate the components of expected pollution remediation outlays and determine whether outlays for those components should be accrued as a liability or capitalized when goods and ...
CHOOSE YOUR DIRECTION
Jul 01, 2008; ... The Right Network or Association Can Point the Way Going it alone is tough in the accounting industry. Small local practices and large regional firms all know that growing a business requires a competitive edge. Better connections, improved ability to handle inter-regional and ...
Confronting the Inevitable Blame Game
Jul 01, 2008; ... Insightful lessons can be learned by reviewing professional liability issues. With this in mind, Bollinger Inc. provides this column. For more information, contact Bollinger at robert. connolly@bollingennsurance. com. CPAs are well aware of the scandals and litigation of the recent past ...
Executives, Too, Must Plan for the Unexpected
Jul 01, 2008; ... When designing a financial plan for executives, one of the major risks to consider is job loss. During the 2001 recession, executives and people over 45 years old were more likely to experience long-term unemployment than ever before. This trend is expected to continue. The U.S. Department of ...
Credit Crunch Plus Inflation Equals Really Bad News for Business
Jul 01, 2008; ... For the past several months, government agencies, rhe domestic financial press, and many financial pundits have been trying to put a brave face on significantly bad economic data that will drastically affect business opportunities for at least the short term. The essence of this dim view ...
Preserving Independence for Those Providing Attest Services
Jul 01, 2008; ... AICPA and PICPA recently changed their codes of professional conduct to include Ethics Interpretation 101-3 (ET 101-3), Performance of Nonattest Services under Rule 101, Independence. This ethics update covers members who are providing nonattest accounting services to clients for whom the ...
The Dual-Career Balancing Act
Jul 01, 2008; ... A significant number of accounting professionals, regardless of their specific discipline, share a common dilemma: managing the dual-career challenges that arise from their and their spouses' employment. The accounting profession, like most professions in society today, has members, both ...
The Check Is (NOT) in the Mail
Jul 01, 2008; ... Electronic payments, which were once a means of expediting the exchange of funds between corporations, have become a standard instrument of doing business. Over the past 15 years, new products and operational changes have made electronic payments a substantially more attractive option for ...
PICPA's Advocacy Efforts Create Strong Bonds
Jul 01, 2008; ... Part of PICPA's mission to further the welfare of our nearly 20,000 members is served by advocating for our members and articulating positions relevant to the CPA profession. Advocacy is a sometimes overlooked component of the extensive benefits received by PICPA members. PICPA monitors ...
Chapter ABC Events Receive Rave Reviews
Jul 01, 2008; ... Successful professional women know that the best way to get ahead is to attend their chapter's ABCs of Networking events. Established for attorneys (A), bankers (B), and CPAs (C), the ABCs of Networking events are a great opportunity for today's working woman to interact with other successful ...
The Value of Business Valuation
Jul 01, 2008; ... PICPA's Business Valuation Committee was formed in August 2007. Prior to its formation, business valuation issues were covered by the Forensic and Litigation Services Committee. The rationale for breaking out valuation was based on the emerging importance of these issues across many financial ...
Business Combinations in a New World
Jul 01, 2008; ... A long-awaited overhaul of accounting for business combinations and consolidations was recently completed by the Financial Accounting Standards Board (FASB). FASB issued a revised FAS 141, Business Combinations (FAS 141B) and the new FAS 160, Noncontrolling Interests in Consolidated Financial ...
Alan G. Bassman, CPA
Jul 01, 2008; ... Why He Is in the Spotlight As a child, Alan G. Bassman, CPA, would ride by an airfield a few miles from the Willow Grove Naval Air Station outside of Philadelphia and dream of becoming a pilot. He made that dream come true and, in the process, he is helping the critically ill get the ...