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Technology
FACING THE FUTURE
Stanley Zarowin
The biggest challenge before the accounting profession is preparing for technological changes. New developments are altering the way business does business, and today’s CPAs must rethink their work processes and be ready to adopt new tools for the e-economy.

Technology Workshop
THE AUTOMATED SPREADSHEET
Anna M. Rose and Jacob M. Rose
Excel has a function that can monitor a database or a Web site and, depending on the criteria you establish, alert you to predetermined data changes. It can even automatically send e-mails to selected people to alert them to the changes.

Marketing
BE A STANDOUT ON THE WEB
Richard Siedlecki
Effective Web marketing should differentiate your CPA firm from the competition and give potential clients a reason to visit—and revisit—your site. Interesting, informative linked content will make your site a resource.

Personal Financial Planning
COUNSELING OLDER CLIENTS
Marion Kopin and Arlene Hibschweiler
Elderly clients can represent a significant part of a CPA’s practice. To advise them, practitioners should be familiar with topics such as taxation of Social Security benefits, reporting gain from the sale of a principal residence, deductibility of medical expenses and the tax treatment of retirement and other benefit payments.

Auditing
TOP 10 AUDIT DEFICIENCIES
Mark S. Beasley, Joseph V. Carcello and Dana R. Hermanson
CPAs can use the mistakes other auditors made to help them better understand how to detect financial statement fraud. CPA firms can use the deficiencies alleged by the SEC in 45 audits to develop more comprehensive audit procedures.

In My Opinion
INDEPENDENCE AND PUBLIC PERCEPTION: WHY WE NEED TO CARE
Ann Morales Olazabal and Elizabeth Dreike Almer
To maintain the public trust and their professional autonomy, CPAs should be concerned about the impact of even seemingly trivial breaches of independence.

News Digest
Auditing…Banking…Employee Benefits…Financial Reporting… Fraud…Government…Government Accounting and Auditing… International…Investments…Legal…Mergers and Acquisitions…Professional Issues…Technology…FYI

Correction
A misstatement in the article “The Engagement Team Approach to Independence” (JofA, Feb.01, page 57) is corrected.

Special Report
The proposed global credential will provide another option for CPAs.

Frontline Views
An Internet community for CPAs, their clients and employers nears completion.

The Internet
Smart stops on the Web.

By the Numbers
Electronic commerce between businesses is surging as companies boost their efficiency by jumping on the B2B bandwagon.

At a Glance: Charts and Graphics
Earned income still no. 1.
AGI on the rise.

Checklist
Doing business internationally.

Tax Matters
IRS plans to revamp its home page.

Tax Brief: Individual. Tax Court demonstrates its dislike for frivolous cases and delay tactics.

Clarification. Authors of January 2001 JofA day-trader article take a second look.

A response from the IRS on day traders.

Tax Case: Lease determination costs.

Tax Case: Supreme Court rules on COD income and S corporation stock basis.

Tax Case: Family limited partnerships funded with personal use property.

Line Items.

Tax Focus
Installment method again available for accrual-basis taxpayers.

From the Tax Adviser
Tax planning for expatriates.

Technology Q&A
Add document’s full file name and path on the screen…Jump between worksheets without a mouse…Rotate the data in Excel…Sort row information in a spreadsheet…Customize headers and footers…The straight story on screen savers…How to “fix” a spell check dictionary.

For the Practicing Auditor
Research Summary 9: External Auditors’ Reliance on Work Performed by Internal Auditors.
Research Summary 10: The Auditor’s Objectivity Vis--vis Material Misstatements.

Letters
Day-trading debate continues.
More on day trading.
Auditing employee benefit plans—another factor.
The value of tax practice peer reviews.
You read about it first in the JofA.

Golden Business Ideas
Practical ideas for improving your business.

In This Issue