FEBRUARY  Features

 

The CPA Journal Millennium Series

  Three Perspectives on Multidisciplinary Practice

  By Francis T. Nusspickel, Thomas O. Rice, and Dan L. Goldwasser 

  The debate over multidisciplinary practice has been a lively one, sparking informed and impassioned arguments from both sides of the professional divide. The authors present three compelling, sometimes contradictory viewpoints in favor of coordinated practice, professional independence, and further consideration of the hurdles that must be cleared before the two distinct professions--accounting and law--can be united. (Article) 

  

  The IRS Market Segment Specialization Program
  By Darlene Pulliam Smith  

  As an alternative to the unpopular Taxpayer Compliance Measurement Program, the IRS has developed the Market Segment Specialization Program to make the audit process more effective. The IRS hopes that by opening up its audit procedures it will increase the rate of voluntary taxpayer compliance. (Article)        

 

  CPE: Changing with the Profession 

  By Paula B. Thomas and Betty S. Harper 

  CPE has changed considerably in the 30 years it has been a hallmark of the accounting profession. A recent AICPA and NASBA joint exposure draft, Statement on Standards for Continuing Professional Education, is an attempt to bring state regulatory standards up to date with current CPE practice, such as self-directed learning activities. (Article)

 

  How Does Your Firm Compare?   
  By Charles P. Zlatkovich and Karl B. Putnam 

  New U.S. Census Bureau data (for 1997) recognize CPA firms as a distinct business category, allowing CPAs to identify general competitive information by region. Interestingly, CPA firms remain concentrated in central business districts, whereas recent economic growth has occurred most rapidly in suburban locations. (Article)

 

  Maximizing the Front-Loading of Alimony Payments   
  By Bruce M. Bird and Mark A. Segal  

  Special rules apply to accelerated payments of alimony or separate maintenance that may result in their unintended recapture under IRC section 71(f). The authors provide an algorithm and spreadsheet for maximizing the front-loading without triggering recapture. (Article)

 


  FEBRUARY Departments

   Auditing 
   Customized tables for tests of controls: A spreadsheet  (download)   (Article)
   Federal Taxation  

   Tax incentives for higher education (Article)    

  International Taxation 

   IRS Revenue Procedure 2000-35: Dispositions of U.S. real estate by foreign persons (Article)  

 The CPA in Industry
   Generational revenue analysis (Article)  
   IRA Planning 

   Available exceptions for early withdrawal penalties (Article)

   Estates and Trusts  

  Oppressed shareholders' rights can affect estate and gift tax valuation (Article)

   The CPA Consultant 
   Stock options as marital property (Article)  
   Personal Financial Planning

   Traditional pension maximization strategies (Article)

   Employee Benefit Plans 
   IRS final regulations and revenue ruling address involuntary cash-outs (Article)
   IRS releases guidance on default elections (Article)  
    

   Scope of practice: Independence and MDP. A message from CPA Journal Editor-in-Chief Robert Colson

  

FEBRUARY News & Views

   Multidisciplinary practices: never say never?  
  SFAS No. 133 causes companies to reevaluate derivative strategies    
   The real MDP question: Who's the boss?  
   FASB decisions on treatment of goodwill
   The UAA, from the grassroots: John Peace
   Visit CPAJournal.com
   Book Review: API's Complete Guide to the Nonprofit Audit
  Website of the month: PDI
Letters to the Editor
   Statistical hair-splitting?
   The next generation of CPAs


 Coming SOON

Special Millennium Section
Entrance to the Profession

  Accounting education  
  The 150-hour rule 

  The Uniform Accountancy Act  

The CPA Manager  
  The accountant's paradox  
Federal Taxation 
  Deduction of acquisition costs  
Personal Financial Planning 
  Marriage penalty and innocent spouse provisions


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The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting 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.

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