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JULY Features
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The CPA Journal Millennium Series
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Moving the AICPA into the New
Millennium:
An Interview with Barry C. Melancon
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By James L. Craig, Jr.
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With its proposed global
business certification and e-commerce portal, the AICPA
may be taking a bold step into the new millennium--or it may
be risking the profession's reputation. AICPA President Barry
Melancon discusses the reasoning behind these and other recent
initiatives and their chances for success. (Article)
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FASB Interpretation No. 44:
Accounting for Certain Transactions Involving Stock Compensation
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| By Anthony F. Cocco and Glenn Vent
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The debate over accounting
for employee stock options has long been a contentious
one. To help qualify some of the issues left unresolved by
earlier standards, FASB has released Interpretation No. 44. (Article)
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| Information
Technology Security Engagements: An Evolving
Specialty
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By Bruce H. Nearon
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With network connectivity
driving the productivity boom, computer security is once
again a high priority. Risk avoidance is the key to
maintaining a secure information technology environment, and
CPAs can develop and monitor the controls that keep an
organization safe. (Article)
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| Western
Accounting Firms in the Aftermath of the Russian Financial
Crisis
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By Thomas C. Taylor and Jack E.
Wilkerson, Jr.
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Western accounting firms
have been exploring the market potential of the former Soviet
Union for more than a decade. After the financial of August
1998, however, they had to look at the current market more
realistically while remaining optimistic about the long
term. (Article)
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| National Retail Sales Tax: Time for
a Closer Look
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By Charles E. Price and Leonard G.
Weld
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The cries for federal tax
reform are growing louder every year, but the question is what
would be the alternative. A national retail sales tax would be
fair and easy to administer, but would it be regressive, and
where would the rate be set? (Article)
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| IRC Section 121 Gain Exclusion for
Bankrupt
Debtor's Principal Residence
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By Bruce M. Bird
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The exclusion of the gain
from the sale of a principal residence from capital gains
taxes is unclear when the seller is a bankruptcy trustee.
Recent court rulings, however, have favored trustees
and bring some relief to those facing bankruptcy. (Article)
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