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This symbol identifies articles in the home study CPE program. |
Software
FINALLY, BUSINESS TALKS THE SAME LANGUAGE
Stanley Zarowin and Wayne E. Harding
Businesses and professional organizations are agreeing on a universal business reporting language—XBRL—and they’ve committed substantial resources to develop it. The language soon will be loaded on most accounting software products. XBRL surely will revolutionize how business data are reported, used and calculated.
E-Commerce
THE ALLURE OF THE INTERNET START-UP
Kimberly Grob
The Internet isn’t just for techies—Web companies need CPAs, too, but only the risk-tolerant need apply. If you are excited by the unpredictable and hunger for new challenges and greater responsibilities, then joining a Web start-up may be just what the career doctor ordered.
Technology Workshop
DRILLING FOR INFORMATION
Jeff Lenning
Financial reports printed on paper are static documents. What’s on the paper is what you get. But technology opened the door to a new kind of financial report—one that allows a user to dig below the surface of the numbers on a screen to their source. Here’s how to prepare such a drill-down report.
Corporate Governance
NEW RULES, NEW RESPONSIBILITIES
Carol A. N. Zacharias
The SEC and other regulatory bodies have developed rules that give the audit committees of corporate boards of directors increased responsibility—and, perhaps, liability.
Practice Monitoring
PEER REVIEW CHANGES FOR SMALL FIRMS
Gary Freundlich and Walter H. Webb
Revised peer review standards, which become effective January 1, 2001, are designed to streamline the review process for participants and reviewers and improve the quality of financial reporting. The changes will most notably affect the nearly 18,000 small firms that perform only review or compilation engagements (and no audits).
Mutual Funds
PICKING THE RIGHT BENCHMARK
John S. Battaglia, Jr., and Richard C. Musar
By selecting the appropriate benchmark for a client’s mutual fund investment, CPAs have a standard they can use to measure the fund’s performance. Different kinds of funds are best judged by different benchmarks, depending on the investment style of the fund.
Assurance Services
SYSTRUST AND THIRD-PARTY RISK
Carl Pacini, Stephen E. Ludwig, William Hillison, David Sinason and Leslee Higgins
CPAs’ third-party legal exposure with the new SysTrust assurance engagement is uncertain but probably will vary from state to state. CPAs who know the legal history in their states can make informed decisions about entering this exciting new field and make themselves as “lawsuit proof” as possible.
Checklist
How to avoid the “seven deadly sins” of managing a family business.
Tax Matters
Tax News. IRS announces the start of its large and midsize business division.
Tax Brief. Individual. Contingent fees paid to an attorney were taxed as income even though the taxpayer never was entitled to them.
Tax Brief. Individual. Tax Court disallows accuracy penalty in a case of first impression involving the unclear application of a code amendment.
Tax Case. Taxation of contingent fee awards.
Tax Focus
Easing the chronically ill’s tax burden.
Technology Q&A
Cleaning out temporary files…Getting rid of fractions…Changing upper- to lower-case and vice versa… Customizing the view of Outlook’s calendar…Making the whole toolbar appear…Viewing multiple Excel worksheets…Is it “your” or “you’re”? Word can help you.
Inside AICPA
AICPA and NASBA are working on a new industry standard for competency-based CPE.
A. A. Sommer, Jr., wins the Institute’s Medal of Honor.
Stuart Kessler is IMA’s Executive of the Year.
AICPA encourages electronic submission of questions to its Accounting and Auditing Technical Hotline.
Two videos from Vision communications campaign win awards.
Letters
Another look at IRA assets.
More about mutual funds and taxes.
JofA gets “A” for effort.
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