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Most Recent News
2.10.12 Employers have incentive for teaching financial literacy — Efforts to educate employees about budgeting, investing and other financial matters are gaining ground, as companies find that money stress makes workers less productive. A Society for Human Resource Management survey of human resources professionals found that 83% said their companies were affected by workers' personal financial problems. About half said workers had trouble focusing on work, and 24% said financial problems led to tardiness and absenteeism. The AICPA and SHRM joined forces to launch the WLIFE awards, recognizing organizations with exemplary workplace financial literacy programs. Learn how to start one in your office. Time.com/Moneyland Blog.
2.10.12 Government and banks announce $25 billion settlement — State and federal government officials reached a $25 billion settlement with major banks over foreclosure issues. The deal will provide some relief to troubled borrowers and could help the economic recovery. However, it isn't expected to be a panacea for the housing market. "It is frankly a headline victory for both banks and attorneys general with a modest impact on the housing market," said Joshua Rosner, managing director at Graham Fisher & Co. The Wall Street Journal, Los Angeles Times, Bloomberg.
2.09.12 PCAOB Announces Settled Disciplinary Order for Audit Failures Against Ernst & Young and Four of its Partners Ernst & Young to Pay $2 Million to Settle Charges. Read the press release here.
2.09.12 Accounting jobs are growing at steady clip — The accounting profession can expect solid job growth for the next six years. The Bureau of Labor Statistics estimates that the sector will have grown 22% by 2018, from 2008. Public accounting firms, such as the Big Four, and other corporations are in hiring mode. FINS.com
2.09.12 Add Revenue, Not Workload — Hear from a panel of accountants who partner with myPay Solutions to process their clients’ payroll without the liability and hassle, while providing top quality service from a trusted provider. Learn more at a free one hour webcast: ADDING REVENUE, NOT WORKLOAD: How Firms are Getting Ahead with myPay Solutions. Register
2.09.12 U.S. companies plan to invest domestically as economy warms up. Read story here.
2.09.12 Corporate treasurers protest money market fund measures. Read the story at The Wall Street Journal/CFO Journal.
2.09.12 Some CFOs worry about disclosure requirements in FASB proposal The FASB is generally receiving positive feedback on its revised proposed Accounting Standards Update on Revenue Recognition (Topic 605), in anticipation of the March 13 comment deadline. However, some CFOs say the standard will result in "onerous disclosure requirements" likely to lengthen financial statements. AICPA members can learn more about FASB's revenue recognition proposal and other convergence projects at the Financial Reporting Center on AICPA.org. CFOworld.
2.09.12 IRS proposes rules for foreign financial institution reporting and withholding under FATCA — The IRS issued proposed regulations on Wednesday under the Foreign Account Tax Compliance Act that would provide a step-by-step procedure for foreign financial institutions and certain other entities to use when identifying U.S. accounts, reporting on those accounts, and withholding tax on certain payments. The U.S. and five European countries also announced that they are exploring ways to cooperate in fighting international tax evasion. JournalofAccountancy.com.
2.09.12 The AICPA has several items on its tax advocacy to-do list — AICPA Insights.
2.09.12 Sign up for the AICPA Corporate Taxation Insider e-newsleter.
2.09.12 Officials and banks close in on $26 billion foreclosure deal — Read the story at The Wall Street Journal.
2.09.12 Congratulations to Johnson Jacobson Wilcox for being named the best small firm to work for for the second year in a row. — Are you one of the best accounting firms to work for? Accounting Today can help you find out! Click here for more information.
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AICPA & WOrld News
2.07.12 Congratulations to Johnson Jacobson Wilcox for being named the best small firm to work for for the second year in a row. — Are you one of the best accounting firms to work for? Accounting Today can help you find out! Click here for more information.
2.06.12 Making the Right Successor Choice
— As your client’s CPA and trusted adviser, you are in a good position to bring some objectivity in designing this process to achieve the best outcome. - by Heidi Bolger, CPA, ABV
2.06.12 Did You Know Napping Can Enhance Productivity?— The pesky issue of rest management - by Justin Locke
2.01.12 IRS refund delays cause problems for some taxpayers— Accounting Today
2.01.12 10 planning considerations when a client leaves a job — Tax practitioners can help clients who lose their jobs -- voluntarily or involuntarily -- mitigate some of the tax consequences through careful planning. Here are 10 planning considerations practitioners should make their clients aware of when they face the loss of a job.
2.01.12 Finance teams take on bigger strategy role, survey says — A Deloitte survey shows that setting strategy is becoming a higher priority for finance teams, which are encountering challenges as a result. CGMA Magazine.
1.31.12 Education tax credits, deductions and 529 plans can reduce tax liability — Fox Business.
1.30.12 Deal for payroll-tax cut is near, lawmakers say — Republican leaders in Congress say they're close to a compromise with Democrats to extend a payroll-tax cut that is scheduled to expire Feb. 29. The lawmakers didn't say how they plan to pay for it. Bloomberg Businessweek (01/30) TheFiscalTimes.com (01/29)
1.30.12 IRS explains when and how airline miles should be taxed — LA Times article.
1.25.12 New Tax Provisions for 2012 — With the ringing in of the new year, several new tax provisions took effect. Read this article, written by Alistair M. Nevius, here.
More AICPA News. More World News.
Nevada Society News
1.23.12 Planning Underway for the 34th Annual Gaming Conference — The NVCPA will be presenting the 34th Annual Gaming Conference on May 22-23, 2012. Regarded as one of the most prestigious conferences in the Gaming Industry, this year's theme, "interactive.innovative.informative.", is focused on ways, ideas, and practices that are being developed to change the gaming industry in the more technologically social environment. For more information please visit our gaming page.11.11.11 Send the Financial Accounting Foundation a Comment Letter Supporting an Independent Board for Private Company GAAP ModificationsThe AICPA is urging CPAs to immediately send a comment letter to the Financial Accounting Foundation (FAF) to help make financial reporting more relevant and less complex for millions of the nation’s businesses. CPAs are asked to respond to FAF’s Plan to Establish the Private Company Standards Reporting Council, released on October 4 for public comment, and express support for the Blue Ribbon Panel on Standard Setting for Private Companies’ recommendation that FAF create an independent board to set exceptions and modifications in U.S. GAAP for private companies. According to FAF’s proposal, decisions of the new council would have to be reviewed and approved by the Financial Accounting Standards Board (FASB), which FAF oversees.
11.10.11 Positive Progress Announced with H.R. 674 — This afternoon, the Senate passed H.R. 674, which is now part of the “VOW to Hire Heroes Act.” This bill includes the provision to repeal the 3% withholding requirement on certain payments made to vendors by Federal, state and local government entities.
The bill will go back to the House because it was amended in the Senate to include the veterans hiring provisions. We expect the House to accept the amended bill, and we also expect that President Obama will sign it.
11.10.11 Positive Progress Announced with H.R. 674— This afternoon, the Senate passed H.R. 674, which is now part of the “VOW to Hire Heroes Act.” This bill includes the provision to repeal the 3% withholding requirement on certain payments made to vendors by Federal, state and local government entities.
The bill will go back to the House because it was amended in the Senate to include the veterans hiring provisions. We expect the House to accept the amended bill, and we also expect that President Obama will sign it.
10.27.11 NVCPA Southwest Tax Conference — The third annual Southwest Tax Conference is just around the corner. The event will take place December 6th and 7th. Are you signed up yet? Read More.