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Tax
AVOID THIRD-PARTY TRANSFERS IN A DIVORCE
Tina Steward Quinn and Keith W. Smith
When more than two parties are involved in a divorce-related property transfer, the tax consequences can be unpredictable. To help the client steer clear of unpleasant tax surprises, a CPA should examine the code, regulations and court cases.

Technology Workshop
MAKE YOUR MARK IN SPREADSHEETS
Mark W. Lehman
Electronic comments and explanations can be attached easily to complex spreadsheets to help in the audit and review of financial statements.

Professional Issues
A FRAMEWORK FOR AUDITOR INDEPENDENCE
Susan McGrath, Arthur Siegel, Thomas W. Dunfee, Alan S. Glazer and Henry R. Jaenicke
What concepts and principles will the ISB use in future standard setting? An ED proposes a structure for analyzing key issues.

Auditing Services
AN END TO THE PLAIN PAPER DEBATE?
George R. Young and J. Russell Madray
The AICPA accounting and review services committee ended more than 20 years of debate on plain-paper financial statements by issuing SSARS no. 8, Amendment to SSARS No. 1, Compilation and Review of Financial Statements. The changes let accountants use their professional judgment in deciding how best to meet client needs.

Personal Financial Planning
USING MONEY MANAGERS
Cynthia Harrington
CPAs may find that individual money managers can help them provide tax, investment and other financial planning services to their clients. Selecting the right manager can be crucial to the success of this strategy.

Practice Management
HOW TO BE CAREFUL AND STILL BE CLEAR
Elizabeth Danziger
Many CPAs use convoluted language to describe their findings because they want to cover all bases, thus protecting themselves from liability if an engagement goes sour. This article spells out several alternatives to some common linguistic smokescreens.

Worth Repeating
AN ALL-INCLUSIVE AICPA
Kathy G. Eddy
At the AICPA’s annual meeting, new chairman Kathy G. Eddy vowed to include all CPAs as she helps lead implementation of the Vision Process.

Auditing
The ASB issues SAS no. 92 on auditing derivatives, hedging and investments in securities.

SAS no. 93 summarizes actions affecting three auditing standards.

International
IFAC seeks responses to a new exposure draft intended to help those auditing commercial banks.

The Internet
Smart stops on the Web.

Financial Reporting
AcSEC issues an exposure draft on accounting for investors’ interests in unconsolidated real estate investments.

FYI
News, notes and items of interest.

Personal Financial Planning
A new survey reports on how Americans manage their personal finances.

By the Numbers
More and more companies, especially in technology, are turning to the Web for recruiting.

At a Glance: Charts and Graphics
Workday gets longer for execs.
Women invest in other women.
Bracing for the boomers.

Checklist
Is your firm prepared to offer investment services?

Tax Matters
Social Security benefits increase for this year.

Tax Brief: Individual. Nonpetitioning spouses have the right to challenge a spouse’s or former spouse’s petition for innocent spouse relief.

Clarification: Authors of an October 2000 story regarding day trader rules address readers’ questions.

Special Report: Charles O. Rossotti, commissioner of the IRS, reports on how ongoing changes in his agency are improving service, expanding electronic filing and addressing chronic problems.

Line Items.

From the Tax Adviser
Tax status of medical residents.

For the Practicing Auditor
Research Summary #3: The Effect of Auditor Attestation and Tolerance for Ambiguity on Commercial Lending Decisions.

Research Summary #4: The Effects of Internal Audit Outsourcing on Perceived External Auditor Independence.

Inside AICPA
A tale of two CPAs.
James G. Castellano is Council’s choice to be vice-chairman of the board of directors.
Council grants approval to continue development of global professional designation.
Harvey Coustan receives the Arthur J. Dixon Award.
Institute announces revised guidelines for PFS credential.
Two Institute videos win top honors.
Richard E. Piluso and Dominic A. Tarantino win gold medals.

Technology Q&A
Display two or more documents on one screen…Links create up-to-the-minute data charts…Find a “goal” in a spreadsheet…Set your own shortcut keys…Filter out junk e-mail…How to save e-mail outside of Outlook.

Letters
On managing earnings per share.
Imprecise rule book better than none.
Another view.
Accountants as scapegoats?
An additional recruiting resource.

Golden Business Ideas
Practical ideas for improving your business.

In This Issue