SPECIAL:
BOOK EXCERPT
Planning
for Trouble
by
Jane Bryant Quinn
The voice of
personal financial planning for a
generation of Americans gives us a
glimpse of her new book—and offers
CPAs some good information about building
a personal-finance safety net to guide
your clients through even the most
turbulent of times.
SPECIAL
REPORT
Taking Care of Small Business
by
James C. Metzler
Smaller companies
rely on their CPA firms for a range of
services—so the AICPA has developed
numerous value-added programs and
services to support them both. 
 For CPAs serving
small business clients.
SUCCESSION
PLANNING/M&As
Two-Stage Deals
by
Joel Sinkin and Terrence Putney
Retiring partners
concerned about losing autonomy to a
successor firm can exit their practices
in increments rather than all at once. A
transition in stages also is good for
buying firms that use acquisitions as an
expansion strategy.
For CPAs in public practice.
SOFTWARE
Small Business Software Grows Up
by
J. Carlton Collins
With competition
for small business accounting software
heating up, the available products are
growing more powerful and
sophisticated—a trend that is
expected to continue.
PRACTICE
MANAGEMENT/CASE STUDY
Section
404 for Small Caps
by
John W. Green
One firm that has
performed Sarbanes-Oxley section 404
audits for accelerated filers shares its
best practices to help auditors in their
work with nonaccelerated filers—who
must begin filing for fiscal years ending
after July 15, 2007.
For public practice CPA
firms.
FINANCIAL
REPORTING/TAX
Options and the Deferred Tax
Bite
by
Nancy Nichols and Luis Betancourt
There’s more
to handling employee stock options than
selecting a valuation method. FASB
Statement no. 123(R) has tax accounting
implications as well. This article
explains how to handle them.
For CPAs helping implement
Statement no. 123 (R).
HIGHLIGHTS
NEWS DIGEST
Accounting…Auditing…Compliance…Financial
Reporting…GAAP…Government
Accounting…International…Investment…Peer
Review…Retirement…Succession
Planning…FYI.
THE
INTERNET
Smart stops on the Web.
AT A
GLANCE: CHARTS AND GRAPHICS
Risky business.
Well-made matches.
Fewer refunds, higher total.
Uncle Sam saves time and money.
Under the wire.
LETTERS
Build
wealth, not credit.
Using VLOOKUP to do bank
reconciliations.
CPA salaries then and now.
Different strokes for different
folks.
TOP LINE
News, people, trends and other
noteworthy items.
CHECKLIST
Small business computer
security.
TAX MATTERS
Tax Case: Advances to S
corporations.
Tax Case: Loans to
employee-shareholders.
Tax Case: Deducting S
corporation losses.
FROM THE
TAX ADVISER
Tax
consequences of home purchase programs.
TECHNOLOGY
Q&A
E-mail blind copy (Bcc)
addresses are secure…Break
Excel formulas into bite-size sections…Document Image Writer: The
“printer” you never knew you
had…Access
Format Painter via the keyboard…Word
shortcuts.
BUSINESS
BOOKSHELF
An inside view of what makes BV
reports relevant, credible and reliable.
INSIDE
AICPA
AICPA turns students on to
business and accounting.
Educator/researcher lauded for
management insight.
THE LAST
WORD
A
closer look at some of the intriguing,
inspiring and imaginative folks who are
the heart of the AICPA.
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