MARCH  Features


Special Millennium Series
Entrance to the Profession

  The Perilous Future of Accounting Education

  By W. Steve Albrecht and Robert J. Sack

  Critics of accounting education point to declining student enrollments and practitioner dissatisfaction as evidence that the programs have failed to remain relevant. Here, the authors analyze their exhaustive survey (sponsored by the AAA, IMA, AICPA, and Big Five) of the current crisis and suggest how accounting education can become a vibrant part of the profession’s future. (Article)


  Championing Dynamic State Regulation 
  An Interview with David A. Costello
  By Robert H. Colson 

  David A. Costello, president and CEO of NASBA, is committed to making a century-old state licensing system effectively regulate a changing profession. His primary challenge: getting the state boards to accept a Uniform Accountancy Act that ensures ease of mobility for licensees and continues to protect a dynamic public interest. (Article)


  150-Hour Preparation 

  By William J. Read, K. Raghunandan, and Clifford Brown  

  Although it has come under increasing scrutiny, the 150-hour requirement was intended to produce CPA candidates with superior skills and knowledge. The question is whether the increased requirement has, in practice, lived up to this promise. Given the improved performance of 150-hour candidates on the CPA exam, the answer is yes. (Article)



  Auditing Derivatives and Securities   
  By Paul Munter and Thomas A. Ratcliffe 

  SAS No. 92 was issued to help auditors prepare for SFAS No. 133, which requires that derivatives be reported at fair value. To this end, auditors face particular challenges in finding evidence to support management’s assertions as to the existence, completeness, and valuations of derivatives that the standard and its audit guide try to address. (Article)


  Developing the Knowledge Base of New Tax Professionals
  By Donald Samuelson and Paul G. Schloemer

  Researchers have found a strong connection between a practitioner’s knowledge base and job performance. By following training methods aimed at enhancing knowledge—such as specialized experience, higher-level job tasks, and quality CPE—professionals can perform at a higher level. (Article)


  MARCH Departments

  · Subtle issues in revenue recognition (Article) 
   Practice 21 

  · The accountant's paradox (Article)     

  The CPA in Industry 

  · Signs of fraud: a case by case review (Article)   

  The SEC Advisor
  · SAB 101: Frequently asked questions (Article)  
   State and Local Taxation 

  · N.J. tax court decision reinforces strict interpretation of sales tax exemptions (Article) 

   The CPA in Mediation and Arbitration 

  · The Equal Employment Opportunity Commission's mediation program (Article)

    Federal Taxation 
  · Eighth Circuit allows deduction of acquisition costs (Article)  
   The CPA Manager 

  · A basis for comparison: The national results of the 1999 management of an accounting practice survey (Article) 

  · Practitioners and entrants: A message from CPA Journal Editor-in-Chief Robert Colson


MARCH  News & Views

  · Education ...   
 · Business owners weigh in on MDP issue     
  · A tribute to SEC Chairman Arthur Levitt   
  · Seeking inclusiveness, perfecting innovation, following the Vision: AICPA Chair Kathy Eddy 
  · Why six new chapters? It's about the membership!
  · Website of the month: AccountantsWorld
  · Book Review: What a Difference Knowledge Makes: A Guide to Intermediate Sanctions for Tax-Exempt Organizations and Their Leaders
  · Firms must spend more, market better, increase efficiency
Letters to the Editor
  · October Website of the month
  · UAA: Ballyhoo that accomplishes nothing 
  · UAA propaganda

 Coming SOON

 · In search of innovation   
 · Accounting for stock options 

 · Investigating fraud  

The SEC Advisor  
 · SEC current developments   
Federal Taxation 
 · Netting property transactions at year-end   
The CPA and the Computer  
 · Lease vs. purchase 


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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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