APRIL Features

 

   Myths and Realities of Flexible Work Arrangements

  By Elizabeth Dreike Almer and Steven E. Kaplan

  Are flexible work arrangements the solution to balancing work and family demands? Many myths obscure the reality--that flexible work arrangements can work, and that the repercussions are exaggerated. (Article)

 

   Alternative Minimum Tax: Bane of Middle-Income Taxpayers
  By James J. Maroney, Timothy J. Rupert, and Carol M. Fischer

  Despite its stated objectives, the alternative minimum tax has generated unintended consequences for middle-income taxpayers. Many families may not realize that they are at risk until they check all the details.(Article)

 

The CPA Journal Millennium Series

  Social Security Trust Funds and the Federal Budget
  By Charles F. O'Donnell and Robert Strittmatter

  Few Americans are fluent in the details of accounting for the Social Security trust funds. Different accounting methods, often fueled by political motives, can drastically shape the Federal government's fiscal outlook, turning surpluses into deficits and back again.(Article)

 

   Understanding SAS No. 89, Audit Adjustments

  By Thomas A. Ratcliffe

  Why not place the responsibility for materiality where it belongs, on client management? SAS No. 89, yet another product of SEC Chair Arthur Levitt's attack on improper earnings management, does just that.(Article)

 

  The Latest Thinking on Nursing Care and Long-term Care Insurance
  By Marc H. Miller

  Extended stays in nursing homes and other long-term care facilities can consume a lifetime of wealth accumulation. Proper planning, such as the use of long-term care insurance, can preserve personal and family resources while maintaining the necessary standard of care.(Article)

 

    Just-in-Time Accounting Education
  By Jacqueline Burke and Nathan Slavin

  New technologies have transformed distance learning into a rich, interactive experience. With the benefits it offers in cost savings and convenience, distance learning makes an appealing alternative to traditional methods of continuing professional education and lifelong learning.(Article)

 


  APRIL Departments

  Accounting
   Case study on auditing in an electronic environment(Article)
  Federal Taxation

   Interest expense on debt-financed acquisitions of pass-through entities(Article)
   Sale of a partnership interest(Article)

  State and Local Taxation

   Taxed like a New Yorker: like it or not(Article)
   Technical service bulletin addresses commuter tax(Article)

  Estates and Trusts
   A valuation report does not meet gift tax disclosure regulations(Article)
   Are tax-deferred variable annuities appropriate for an investment portfolio?(Article)
   Timing is key in gift-giving(Article)
   IRS allows gift tax exclusion for prepaid tuition(Article)
   Employee Benefit Plans

  401(k) conversions: Legal fiduciary, and practical considerations(Article)
   Benefit and contribution limits under IRC section 415(e) repealed(Article)

   SEC Advisor

  SAB 100 interprets rules to limit earnings management(Article)

   The CPA in Industry
  Activity-based costing for sales and administrative costs: A case study(Article)

  

APRIL News & Views

   Government trust funds smoke and mirrors
  Big Five continue to seek regulatory solutions and capital 
  SEC issues concept release on international accounting standards
  Levitt praises ABA for banning pay-to-play
  New rules from FEI on internal controls reporting
  AICPA establishes mandatory quality control system requirements for auditor compliance with independence rules
  IRS announces pilot program for prefiling agreements for large business taxpayers
  New marketing vehicle for accountants? 
  Second European FASB-SEC Financial Reporting Conference
  GASB and FASB appointments
  SEC orders securities markets to begin trading in decimals
  Book review: Alternative Dispute Resolution for CPAs
Letter to the Editor
'What--read a tax article?'


  Coming SOON

   Restructuring the International Accounting Standards Committee
   Business valuation services

   Accountants and the responsible person penalty

The CPA in Industry
   Activity-based management software
Federal Taxation
   Installment method no longer available for accrual-basis taxpayers
SEC Advisor
   SAB 101, Revenue Recognition in Financial Statements

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