This symbol identifies articles in the home study CPE program.

Investments
INSCRUTABLE INDEX FUNDS
Mark Johnson and Laura A. Collins
Finding the answers to some key questions about index funds and how they work will help CPAs assess whether they are the right investment for a client or employer.

THE QUEST TO OUTPERFORM
Larry Swedroe
Taxes and overhead can substantially shrink investment returns. For an active portfolio manager, these costs can create a hurdle to profitability that’s too high to leap. Pursuing a passive-management strategy may be a better way for an investor to achieve the best overall return.

Practice Management/Case Study
INTERNATIONAL ASSOCIATIONS
Richard Glickman
Small and midsize CPA firms are joining associations to gain worldwide market share, an opportunity previously reserved exclusively for larger firms.

Auditing
GOVERNMENT REPORTING FACES AN OVERHAUL
Edward M. Klasny and James M. Williams
The approval of GASB Statement no. 34 means state and local entities will have to make major changes in their financial reporting.

Software
SPREADSHEET SMARTS
Justin D. Stein
This tutorial demonstrates how to use three powerful spreadsheet tools: Conditional Formatting, Subtotals and AutoFilter.

Banking
THE STATION NEVER SLEEPS
Jeff McKinney
Treasury workstations are becoming an essential cash management tool for midsize companies. Let your computer call your bank to transfer funds, convert currency and find the best interest rates 24 hours a day—in every time zone. Sound good? Some people think so.

Corporate Tax
FOR WHOM THE SOUTH CENTRAL BELL TOLLS
Anthony Michael Sabino
The U.S. Supreme Court ruled that states cannot impose discriminatory taxes on out-of-state corporations doing business within the state. Multistate corporations should compare their tax burdens in states where they are foreign corporations to weed out flawed state tax assessments.

Professional Issues
Ernst & Young LLP has become the first accounting firm to form an alliance with a law firm in the United States. Financed by an E&Y loan, the new venture is independent and complies with the U.S. legal profession’s ban on fee sharing with nonlawyers.

Special Report
Speakers at NASBA’s annual meeting discuss alternative practice structures, CPA education and progress on the new CPA examination.

Auditing
The AICPA has strengthened independence requirements for auditors of public companies. The new rules are intended to bolster investor confidence in financial reporting.

Personal Financial Planning
The typical American family needs financial planning advice, and PFS practitioners can provide it. But first they’ll have to target the middle-income market more effectively.

By the Numbers
Everyone benefits when employers inject fun into management.

The Internet
Smart stops on the Web.

Business and Industry
The Securities Industry Association has asked the SEC to consider alternatives to the net capital rule, which sometimes requires greater capital reserves than the SIA thinks necessary.

Correction

Checklist
Is your company managing its risk?

Tax Matters
Tax division names Leonard Podolin 1999 Arthur J. Dixon Memorial Award winner.
David A. Lifson gives Congress possible solutions for the tax shelter problem.
Social Security Administration announces cost of living adjustments.
Tax Brief: Individual. CPAs can help taxpayers avoid penalties that result from IRS distributions in a divorce judgment.
Tax Brief: Individual. IRS issues a letter ruling on community property IRAs.
Tax Cases: Taxpayers must meet material participation requirements to deduct short-term rentals…IRS draws the line between deductible client expenditures and nondeductible advances.
Line Items.

From the Tax Adviser
Company-owned life insurance.

Inside AICPA
Illinois accountant wins Elijah Watt Sells gold medal.
Edward J. Mazur named outstanding CPA in government.
AICPA releases new Qs&As on software revenue recognition.

Technology Q&A
Making technology work for you.

Letters
More about the elusive Roth IRA advantage.
Some policies are automatically tax qualified.
Attracting and retaining young talent.

Golden Business Ideas
Practical ideas for improving your business.