Recently added articles from The CPA Journal:
The New 401(k) Landscape: How Plan Sponsors Can Adapt
Sep 01, 2008; Armstrong, Frank III ... A recent U.S. Supreme Court case held that an individual may sue defined contribution plan sponsors for any breach of fiduciary duty. This ruling could go a long way toward clearing up the 401(k) landscape. While the facts of LaRue v. DeWolff, Boberg & Associates, Inc., et al. [450 ...
Let's Learn to Walk... ... Before Running to International Standards
Sep 01, 2008; Grumet, Louis ... Federal officials have cited global competition and economic globalization as the impetus in the move toward International Financial Reporting Standards (IFRS). By adopting international standards, however, we may cede effective control to bodies outside U.S. borders, diminishing investors' and ...
When Accounting Finally Becomes Global
Sep 01, 2008; Thomson, Jeffrey C ... Within the last 50 years, the accounting and finance profession has essentially been reinvented. Advances in technology have moved the profession from pencil and paper to electronic information. At the same time, the demands on businesses have changed, placing increased importance on accurate ...
Correction
Sep 01, 2008; Anonymous ... In the June 2008 issue, there is an error in the ad for CPE on the Go! on page 61. Under the ...
inbox: letters to the editor
Sep 01, 2008; Anonymous ... On the CFF Credential Thanks to Louis Grumet for continuing to beat the drum on the CFF issue in his July Publisher's Column ("If I Only Had a CFF"). As with the "XYZ designation," the CFF seems to be another manifestation of the CPA inferiority complex devaluing our respected ...
The Complete Idiot's Guide to Success as a Personal Financial Planner
Sep 01, 2008; Bregman, William ... The Complete Idiot's Guide to Success as a Personal Financial Planner By John P. Napolitano, CFP, CPA, PFS, MST Published by Alpha Books, a member of Penguin Group (USA), Inc.; December 2007; ISBN: 978-1-592-57686-9; 352 pages (paperback); $19.95 Reviewed by William Bregman The ...
Paper or Plastic?
Sep 01, 2008; Hoffman, Michael J R; McKenzie, Karen S; Paris, Susan ... CPAs Can Educate College Students on Responsible Credit Card Use The growing credit crisis in the United States may be centered on homeowners and lenders, but in tough financial times, no group can afford to be financially illiterate. Although most college students do not hold a ...
Classifying Considerations Given by a Vendor to a Customer
Sep 01, 2008; Marshall, Brian H ... Where Do They Belong on the Income Statement? Companies often provide cash payments and other forms of consideration to their customers for a variety of reasons. The income statement classification of this consideration by both vendors and customers has traditionally been subject to ...
Complying with the SEC's Compensation Discussion and Analysis Requirements
Sep 01, 2008; Grant, Gerry ... The latest SEC regulation focusing on executive compensation, the Executive Compensation and Related Person Disclosure amendment to Regulation S-K, aims to improve shareholder governance by providing a more complete and transparent view of executive compensation ...
Tax Consequences of Home Sales and Foreclosures
Sep 01, 2008; Segal, Mark A; Bird, Bruce M; Leonard, Barbara ... In many areas of the United States, home prices have fallen during the past year. The number of housing units for sale has increased. So, too, has the average length of time before a housing unit is sold. Late payments on mortgages are on the rise. During the last decade many homeowners took out ...
Tax Planning Rules for Ministers
Sep 01, 2008; Englebrecht, Ted D; Cameron, Jonathan A ... Ministers are individuals who have devoted their lives to teaching, edification, and service to their church and other people. While some ministers may be excellent teachers, pastors, and mentors, many are unfamiliar with the special tax laws applicable to ministers. First, ministers may exclude ...
Life Insurance Is Now Taxable?
Sep 01, 2008; Weinstock, David ... Pension Protection Act Adds IRC Section 101(j) As a general rule, life insurance proceeds should be free of income tax under IRC section 101(a). This has been the presumption when arranging most life insurance transactions. On August 17, 2006, however, the passage of the Pension ...
Social Security Planning: Emphasis on Married Couples
Sep 01, 2008; VanZante, Neal R; Fritzsch, Ralph B ... The United States currently has a sizeable population approaching retirement age, and there are myriad factors that individuals and married couples need to consider when making their Social security decisions, namely in determining how to coordinate these decisions and managing their other ...
Internal Control at Private Companies and Nonprofits
Sep 01, 2008; Jeffrey, Chris ... Using SOX to Your Advantage Should the Sarbanes-Oxley Act (SOX) be applied to a private company? What about SOX at a nonprofit? Over the past few years, it has become evident that the strong corporate governance and systems of internal controls put in place by SOX are here to stay. It ...
The Importance of Listening Skills in Tax Preparation
Sep 01, 2008; Golen, Steven; Lynch, David H ... To a tax practitioner, the ability to listen effectively may be an overlooked skill that is more important than writing or speaking. Listening carefully to a client is critical in order that a tax issue is properly defined and the subsequent application of the tax law is correct. It would not be ...
What Are Students Taught in International Accounting Courses?
Sep 01, 2008; Zarb, Bert J; Jagolinzer, Philip ... The Need for Global Education in U.S. Classrooms The dynamic growth of global markets in recent years has spurred a demand for new knowledge and skills. Each advance in technology, systems, and processes reaffirms that need. For students to succeed, they must learn how the global ...
Using Automated Identity and Access Management Controls
Sep 01, 2008; Aldhizer, George R III; Juras, Paul E; Martin, Dale R ... Protecting a Network Against Insider Attacks Over the past few years, information technology (IT) audit and security managers have embraced e-commerce and focused their resources on installing network-level automated controls. The purpose of these controls is to help protect against ...
Website of the Month: NewRetirement
Sep 01, 2008; Anders, Susan B ... New Retirement LLC uses its website www.newretirement.com to promote its retirement planning products and services. Visitors to the site can create a free personal account to use the discussion board, or simply take advantage of the substantial resources that are accessible to the public. While ...
"If You Find Yourself in a Hole ..." "... Stop Digging!"
Sep 01, 2008; Kranacher, Mary-Jo ... The collapse of the subprime mortgage market in the United States, followed closely by the banking crisis and credit crunch, has sparked many discussions among those seeking to determine where to place blame for the mess that has unfolded over the past year. Should it fall on the shoulders of ...
Valuation of Hedge Funds
Sep 01, 2008; Poniachek, Harvey ... Moving Toward Greater Standardization The term hedge fund, as generally defined, means a pooled investment vehicle that is privately organized, administered by a professional investment manager, and available to institutional investors and high-net-worth individuals. Hedge funds do not, ...