October 2002 Issue

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October Features

Who Moved My Ledger?

The only constant in business is change. The escalating pace of change in recent years means that experiences which were once merely unsettling might overwhelm individuals inadequately prepared to deal with the transition. Confronting fears of change and understanding the change management process are crucial to successful transitions. (Article)

A Radical Proposal for Accounting Education

The schism between practice and academia has existed from the earliest days of the accounting profession. The author, in response to The CPA Journal Forum on Accounting Education (August 2002), argues that the future development of the profession will depend on unifying these constituencies through a common educational background. (Article)

In Defense of Accounting Education

This counterpoint to Bruce Nearon' radical proposal offers a defense of the current state of accounting education. The author makes the case that accounting education model has evolved over the last decade and places declining enrollments within a broader context. He also makes an interesting case for the dynamic between accounting research and teaching ability. (Article)

Partnerships, LLCs, LLPs, and S Corporations

The newer pass-through entities have made state tax laws more complex and complicated the entity choice decision. Although pass-through entities are generally treated similarly, there are subtle differences that can have a substantial effect on certain owners. (Article)

GASB 34: New Requirements for General Capital Assets

States, cities, towns, villages, and school districts and public utilities must now capitalize all general fixed assets, including general infrastructure assets. These assets will now be reported on the Statement of Net Assets and the annual cost of using such assets will be charged to the Statement of Activities as an operating expense. Because this capitalization represents such a large undertaking, GASB 34 includes a phase-in period that gives small governments more time to implement the changes. (Article)


October Departments


Auditors' views on audit committees and financial reporting quality (Article)


Redesigning the first accounting course (Article)

Federal Taxation

2001 Tax Act boosts qualified state tuition programs (Article)

Personal Financial Planning

Section 529 plans for New York residents (Article)
The marriage tax: current effects and future changes (Article)

IRA Planning

New minimum distribution rules for IRAs (Article)

Employee Benefit Plans

What small business should know about pretax plans (Article)

Practice 21

Commission-Based Services (Article)

Guest Editorial

The charge: Failure to see the big picture in financial reporting
By John P. McAllister (Article)


News & Views

In Memoriam: James L. Craig, Jr., CPA

In GAAP we trust

Record Retention 101: Seeking a Nexus of Commonality

Good internal controls and auditor independence

Proposed regualtion defines experience rating

Book review: Why Companies Lie: Why Enron Is Just the Tip of the Iceberg

Website of the month: Accounting Software 411

Letters to the Editor

'Well-performed' nothing

Lots to do

Reviving the profession

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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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