AICPA April 1999

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April 1999 Vol. 187 No. 4 Table of Contents

Publisher's Info Page		This symbol identifies articles in the home study CPE program.
Articles
Consulting		Education/Practice Management
The CPA As Sleuth: Working the Fraud Beat Craig M. Beek, W. Max Rexroad, Linda M. Leinicke and Joyce A. Ostrosky A client calls you and says she suspects an employee has his hand in the till. What do you do next? What does the law say you can do in a fraud case? And how should you work with a client's lawyer? CPAs who know the rules can play a key role on an investigative team. Buy or Lease: The Eternal Question Deanna Oxender Burgess CPAs can offer invaluable assistance to clients who are trying to decide whether to buy or lease a car. Financial and nonfinancial factors must be considered in deciding which alternative best meets a particular client's needs.		150 Hours: A Look Back John Cumming and Larry J. Rankin More accounting students will have to meet the 150-hour requirement to become CPAs. How will this change firm management, salaries and recruitment in public accounting? The transition in Florida, the first 150-hour state, provides some insight.
		Career Development
		Filling the Knowledge Gap Karyn M. Waller To help accountants acquire and hone professional skills, the AICPA developed a software program called the Competency Assessment Tool. CAT was designed to help CPAs identify the skills they need to map out a learning program that will support their professional advancement in a fast-paced business environment.
Practice Management		Technology
Solo, But Not Alone Stephen Weinstein Many practitioners who wish to remain independent must consider entering alternative practice structures that leverage their specialties and give them a competitive edge. Case studies: One sole practitioner chooses to stay solo, another merges for security.		What You Really Need Stanley Zarowin New technology is coming at such a fast pace that it's hard to determine what hardware and software will boost productivity and what claims are just vendor puffery. With the broad spectrum of office technology available, CPAs need guidance on the goods that will make a real difference in the professional workday.
Assurance Services		Bankruptcy
Helping Clients Grow Old Gracefully Karen A. Roberto and James A. Yardley As the U.S. population ages, CPAs have an opportunity to use their unique assurance skills to make sure the elderly have access to quality services that will enable them to lead independent lives.		When Your Customer Goes Belly-Up Stephen T. Bobo and Kenneth J. Goodheart Simple precautions can help CPAs safeguard a company's interests when a customer goes bankrupt. Here's how financial executives and accountants can help creditors pick their way through the bankruptcy minefield
News
Financial Accounting		Government Auditing and Accounting
The FASB and its associates take stock of the major issues and what should be on its agenda the results are often far from unanimous.		The National State Auditors Association is pooling its members' resources to make sure that the Y2K problem doesn't shut down police departments, motor vehicle bureaus and other key offices.
Pension plans of state and local governments are the province of the GASB, as the FASB shows by deleting Statement no. 75 and ending years of postponements of Statement no. 35.		FYI
		Short takes, notes and items of interest.
Auditing		Professional Issues
The Independent Standards Board issues its first standard, requiring auditors of public companies to make a statement about their independence to their clients.		William R. Snodgrass, long-time Tennessee State Comptroller and pioneer in state and local standards, talks about how the states came to be where they are.
Business and Industry		At a Glance: Charts and Graphics
Phil Livingston, A CPA with experience in technology, management and public accounting, takes the helm at the FEI as P. Norman Roy retires.		The rise of IT. Jobs in finance still looking good. CFOs rate luxury cars. Welcome to the company. Poor bear brunt of excise taxes. As audits decline, concern rises.
The Internet
Smart stops on the Web.
By the Numbers
Are there layoffs in your future?
Columns
Monthly Checklist Series		From the Tax Adviser
Organizing a Business Retreat.		Deducting Entertainment Expenses.
Tax Matters		Letters
The IRS tightens the squeeze on family limited partnerships. Tax Brief. Business/Industry: New proposal enhances stock disposition regulation. Tax Brief. Individual: Taxpayers and practitioners may face penalties for aggressive tax treatments. Tax Case. Recognizing income on forclosures. Line Items.		Don't buy into "politically correct" CPE. Computerized CPA exam may have problems. Retirement planning and asset allocation: more art than science. When does an incentive compensation system work? More e-mail etiquette suggestions.