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Obstacles to International Accounting Standards
Convergence
By Jane E. Campbell,
Heather M. Hermanson, and John P.
McAllister
The convergence of GAAP
and International Accounting Standards in the near future
hinges on the possibility that the standards can be
harmonized. The authors examine the conceptual frameworks
behind the two sets of standards and conclude that they pose
few intractable barriers to convergence. (Article)
Leading
High-End Accounting Software
By Anthony Basile, Louis J. Papa, and Randy
Johnston
The choice of accounting
software is an important decision for most companies. Making
the right decision requires a careful comparison of all the
available options. Current and future needs must be
considered, and purchasers should look beyond a simple feature
set to all of a program’s benefits and drawbacks. (Article)
New and
Expanded Internal Audit Standards
By
Janet L. Colbert
The Institute of Internal
Auditors (IIA) recently adopted a Professional Practices
Framework that updates its guidance for internal auditors. The
framework expands the definition of internal auditing and
raises the standards for internal audit work. (Article)
Intellectual Property
Primer
By Barry A.
Cooper
Developing and utilizing
intellectual property is increasingly crucial to a business’s
success. The author reviews the primary forms of intellectual
property—patents, copyrights, trademarks and trade dress—and
how they are registered and protected. Accounting for an
expanded set of intangible assets requires the knowledge to
identify when property rights attach. (Article)
Postmortem
Events and Claims Against an
Estate
By Ted D. Englebrecht and
Joseph J. Suhoski
Executors have long
relied on the Supreme Court’s decision in Ithaca Trust
when establishing the deductibility and valuation of claims
against an estate. A number of recent cases have interpreted
Ithaca more narrowly and warrant clarification and a a
reassertion of the sensibility of the Court’s decision. (Article)
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