February Features: 
  Two Firsts for the AICPA
  An Interview with AICPA Chair Olivia F. Kirtley By James L. Craig, Jr.
    The new chair of the AICPA marks two firsts for the organization: Olivia F. Kirtley is the first woman to hold the post and the first CPA from outside of public practice. In this interview, she describes her agenda, which includes the continuation of the Vision Process, increased involvement in he international arena, and greater diversity within the AICPA leadership.  (Article)


  Status of the New Governmental Financial Reporting Model
  By Craig Foltin
    GASB's January 197 exposure draft was met with a great deal of controversy, and, as a result, the board has shifted its focus. The dual-perspective approach has been eliminated. Complex, unresolved issues remain; however, GASB is determined to produce a final statement by June 1999.  (Article)


  The Federal Sentencing Guidelines for Organizations
  By W. Max Rexroad, Toby J.F. Bishop, Joyce A. Ostrosky, and Linda M. Leinicke
    The Federal Sentencing Guidelines for Organizations were established to encourage organizations to police themselves to ensure compliance with federal laws. Organizations that do not enforce these guidelines runt he risk of criminal penalties. The authors highlight the consulting and assurance opportunities FSGO presents.  (Article)


  Online Financial Reporting
  By Simon Petravick
    Many public companies are now using their websites to disseminate financial information, such as annual reports, SEC filings, and stock data. When properly utilized, online reports can be far more accessible and useful to the consumer. The authors provide a number of sites as examples of the technology in practice.  (Article)


  Legal Costs as a Medical Expense
  By Mark A. Segal
    To qualify as a medical deduction, an expense must be for services directly or proximately related to the diagnosis, treatment, or prevention of a disease. The author reviews a number of court cases dealing with the issue of whether certain legal costs meet the essential standard and are therefore deductible. 


  Accounting for Software Development Costs
  By Paul Munter
    The new SOP on internal use software requires that the costs of developing or acquiring such software be capitalized and amortized. The new SOP will affect most enterprises.  (Article)


  Answers to 20 Questions on Dealing with IRS Collections
  By Peter A. Karl, III
    What can you do when Uncle Sam comes after you? The author asks and answers 20 questions that might come up when dealing with IRS collections, reviewing offers in compromise, creditor protection, bankruptcy options, changes brought about by the IRS Restructuring and Reform Act of 1998, and more.  (Article)


  February Departments: 
  · A spreadsheet program for bond discount and premium amortization (download)  (Article)
  · A case study on detecting fraud in a financial statement audit  (Article)
  The CPA in Industry
  · Multiple banks equal new opportunities for mid-sized companies   (Article)
  Employee Benefit Plans
  · PBGC extends deadlines and relaxes certain penalties
  · Cost of living adjustments
  · New York legislation reduces workers' compensation costs   (Article)
  Personal Financial Planning
  · Intentionally defective grantor trusts  (Article)
  SEC Advisor
  · SEC interpretative release on disclosure of Year 2000 issues   (Article)
  Federal Taxation
  · Tired of waiting for 59 1/2? You may want to try 55   (Article)
  Estates and Trusts
  · Income tax issues after the death of a spousal joint tenant   (Article)
  February News & Views: 
  · Using Valuation Software To Resolve Litigation  (Article)
  · IASC Approves Standard On Financial Instruments--Last Major Project On Core Program  (Article)
  · Harcourt Brace Publishes First "How To" Guide On Electronic Commerce Assurance Services  (Article)
  · Tax Court Imposes Early Distribution Penalty Due To Modifications Made After Age 59 ½  (Article)
  · Global Institute For Taxation Calls For Papers  (Article)
  · Movie Money: Understanding Hollywood's (Creative) Accounting Practices  (Article)
  · Auditor Independence: Illusion Or Reality?  (Article)
  · First AICPA Chair From Industry Represents Paradigm Shift  (Article)
  · American Express Tax And Business Services Acquires Altschuler, Melvoin And Glasser  (Article)
  · Development Of International Auditing Standards  (Article)
  · AIPB Announces New Program To Certify Bookkeepers  (Article)
  · Financial Executives Institute Appoints Philip B. Livingston As President And Chief Executive Officer  (Article)
  · Arthur Andersen/NSBU Releases Survey Of Small And Mid-Sized Businesses  (Article)
  · Accounting Firm Settles Software Copyright Claims  (Article)
  · Tax Professionals Call For Radical Tax Code Changes  (Article)

  Coming Soon:
· The CPA Journal symposium on auditor independence
· Valuing gifts of interests in closely held businesses
· New technologies to combat check fraud
Deferred taxes--personal financial statements
Personal Financial Planning
Significant changes in the New york State Medicaid policy
The CPA in Industry
Putting together a Y2K team

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The CPA Journal is broadly recognized as an outstanding, technical-referred publication aimed at public practitioners, management, educators, and otheraccounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments. 

Last Updated February 10, 1999 by Anthony H. Sarmiento
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