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Practice Development/Consulting
KICK THE TIRES OF A NEW NICHE
Sarah Phelan
If you’re a CPA cruising for business growth, there’s opportunity in an auto specialty, say experienced practitioners. Car dealers are a large and prospering market, and they need CPA services.

Technology Workshop
PUSH-BUTTON SPREADSHEETS
Stephanie M. Bryant and Michele Martinez
With a single mouse click you can get a spreadsheet to perform a wide assortment of oft used tasks. It’s an especially helpful tool for users who are not computer-savvy.

Practice Development
MEYNERS MINES ITS TALENT
Phaedra Brotherton and Michael Hayes
When Meyners and Co. of Albuquerque set out to sell more services, it soon saw it didn’t have the resources to handle an increased workload. The firm’s already overworked partners needed a plan to expand capacity ahead of new business. Here’s how they prepared the firm.

MAKE STRATEGIC RELATIONSHIPS A SUCCESS
Irv Gamal
CPA firms can offer clients more types of services at lower cost by pooling complementary strengths. It’s not a new idea, but it’s still a practical way a firm can expand its range of competencies.

Auditing/Practice Management
A PERSPECTIVE ON AUDIT MALPRACTICE CLAIMS
Sherry Anderson and Joseph Wolfe
For CPA firms that audit nonpublic entities such as private companies, government units or not-for-profit organizations, understanding what leads to costly audit malpractice claims can help in managing and minimizing the risk of performing these audits.

Education Update
BEYOND THE “OLD SCHOOL”
From small CPA firms to national giants, a major concern is educating, recruiting and retaining high-quality students for careers in accounting. Here’s a look at activities originating at all levels of the profession to attract the best candidates.

Tax
SMART EDUCATION TAX MOVES
Ron West
Congress continues its efforts to make college more affordable with a new round of tax incentives. CPAs can play a significant role in helping clients take maximum advantage of these often complicated provisions.

Tax Practice
THE TIMING OF SECTION 1033 ELECTIONS
Larry Maples and Melanie Earles
The IRS issued guidance about the timing of certain IRC section 1033 elections taxpayers make to defer gain following an involuntary conversion. But questions remain.

The Fraud Beat
BILLING SCHEMES, PART 3: PAY-AND-RETURN INVOICING
Joseph T. Wells
Resubmitting vendors’ legitimate invoices and stealing their resulting refunds is only one way unscrupulous employees can defraud their companies. That’s why it’s important not only to have adequate internal controls but also to give workers the means to report what they see and hear—often the most valuable information in the fight against employee fraud.

Insurance Issues
DISCLOSING INSURANCE COMMISSIONS
Neil Alexander
CPAs who receive a share of commissions on client insurance transactions are required to disclose those arrangements under the AICPA Code of Professional Conduct.

News Digest
Financial Reporting…Government Auditing…International…Securities…FYI.

The Internet
Smart stops on the Web.

At a Glance: Charts and Graphics
Let there be light.
Outsiders looking in.
Liberty comes a little sooner.
Kiddie tax grows up.

Letters
Disappointed with JofA news.
Profession needs monitoring and control.
Wrong choice of words?
Letter on target.

Checklist
Petty cash counts, too.

Tax Matters
Tax Brief: IRS TEAM pilot program.
Tax Case: Contribution of appreciated stock.
Tax Case: Taxing Social Security benefits.
Tax Case: S corporation conversion doesn’t trigger Lifo recapture.
Tax notes.

From the Tax Adviser
Sales and use tax reverse audits.

Technology Q&A
Opening unopenable files…Faster alternatives to Bookmark in Word… Boilerplate access in Outlook…Use Outlook to track telephone calls… Formula crib sheet in Excel…Sort out text from numbers in Excel…How to silence the hissing modem…Shortcuts.

Golden Business Ideas
Practical ideas for improving your business.

In This Issue