AICPA President and CEO Barry Melancon, speaking at the fall meeting of the Institute’s governing Council in Las Vegas on Monday, gave an update on the impact of globalization on the profession, the AICPA’s ongoing efforts to support members and the public during the economic downturn and recovery, and on new technology efforts on the horizon. Melancon said small business will drive the economic recovery.
Many attribute the beginning of the financial crisis to the collapse of the housing market. While the housing bust indeed plays an important role, particularly in the health and stability of the banking sector, the real problem is deeper. The fluctuations observed across real estate markets over the last decade or so simply reflect sizable macroeconomic imbalances. It is the nature of these imbalances that we must fully appreciate to better understand the crisis and to potentially forecast plausible scenarios going forward.
The authors explain the role of macroeconomic imbalances—namely excessive consumption by government and households—in the current economic crisis and discuss the tough policy choices necessary to restore the nation to long-term prosperity.
Heightened optimism among CPA financial executives seems to indicate the worst of the recession is in the past, but the consensus is growing that the U.S. economy is still a ways off from achieving a full recovery. While optimism about the economy continued to improve and spread across most industries in the third quarter, the percentage of executives who don’t see a recovery beginning until at least the second half of 2010 increased substantially (27% vs. 43%) from the previous quarter.
The Management Minute is a monthly podcast providing finance and accounting managers easy-to-use management and career advice to help them improve their leadership skills and reach their professional aspirations. Topics include:
Accounting for sustainability is the practice of considering the environmental and social costs of doing business when measuring organizational performance. During the recent economic crisis, practicing sustainability has become a competitive business tool and can also be a key contributor to the economic and environmental health of society. See how sustainability initiatives may influence your company's bottom line in ways you may not have considered.
FREE audio Infocast discussions from a year-long series on helping organizations survive the current economic crisis. This series is designed to guide senior financial executives and their professional advisors by focusing on those events or processes that need to be “top of mind” in the CFO office in order to successfully navigate through calendar year 2009.
Plan for the Worst & the Best Might Happen
http://video.webcasts.com/events/pmny001/viewer/index.jsp?eventid=29560
Obsessing About Your Liquidity
http://video.webcasts.com/events/aicp001/29969/
Working With the Board & Audit Committee – Tough Times … Big Challenges
http://video.webcasts.com/events/aicp001/30657/
Scouring Your Balance Sheet: Where Cash is King
http://video.webcasts.com/events/aicp001/30972
Working Through the Economic Crisis with Your Lenders
http://video.webcasts.com/events/aicp001/31998
These Webcasts On-Demand are also available:
Avoiding Restructuring & Bankruptcy - What every CFO needs to know – CFO Roundtable Webcast ($49.00)
http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/FinancialManagement/Finance/CashManagement/PRDOVR~PC-780164/PC-780164.jsp
If you find yourself out of a job in this downturn, keep in mind that restrictive covenants may limit your next move. If you are a party to such an agreement, you could face a costly lawsuit if you go to work for a competing company or firm or start your own—even if you are terminated without cause. Consider these steps before leaving, accepting new employment, or starting a competing business.
Barry Melancon, president and CEO of the AICPA, spoke recently about the top issues affecting the CPA profession. Following is a Q&A in which Melancon explores tax preparer registration, fair value accounting, regulation, IFRS and other topics.
Continue reading "AICPA President and CEO Addresses Issues Facing Accounting Profession" »Insight, June 2009
Innovative thinking and fresh strategies frequently emerge from the midst of chaos, and in the process make an organization stronger and more adaptable to a new and often transformed business environment. A post-crisis audit that results in necessary change, reviews how a crisis was handled, has a forward-looking approach and tracks results can position a business to learn from the crisis and thrive in the afterglow of recovery.
NewsAccount, Colorado Society of CPAs, July/August 2009
Although SFAS 159, The Fair Value Option for Financial Assets and Financial Liabilities (as amended), and SFAS 157, Fair Value Measurement, were effective simultaneously, the focus has been on SFAS 157 and other issues, to the exclusion of SFAS 159. This article discusses SFAS 159’s purpose and applications, dissenting opinions on the standard, and the best circumstances for the fair value option.
In handy download format, this book focuses on how to assess and modify your firm’s estate planning services in a volatile market. Includes sample checklists and a marketing PowerPoint presentation.
Learn More
Listen to these FREE audio Infocast discussions from a year-long series on helping organizations survive the current economic crisis.
Learn More
In this infocast, CPAs who also serve as audit committee chairs discuss how CFOs should communicate with the board and audit committee, what actions they should avoid or embrace during tough economic times, and how audit committee chairs can help CFOs without crossing the independence line.
Listen to the Infocast
Showcases the profession's leading experts on what's "hot" at the SEC. Live Webcasts in Feb, Jun, Sep, and Dec.
Author Ron Rael, who has helped hundreds of companies increase their profits with his strategies, provides you with 50 different techniques to greatly enhance your risk management skills.
This course illustrates how accounting functions can be aligned with lean goals and lean performance measures and how your firm or client can make a smooth and successful transformation to a lean accounting function.
This course provides specific steps to help auditors and accountants fully meet fraud-handling expectations. The how-to approach helps participants identify fraud exposures and risks and provides practical ideas on “how to” handle those exposures.
Employers: Post your CPA job listings here.
CPAs: Post your resume or search job listings for free.
This course provides an auditor with the tools to identify fraud schemes. It trains CPAs to focus their analytical and substantive tests on the fraud triangle when evaluating internal controls. It also illustrates the latest in fraud prevention and detection programs implemented by industry leaders.
Train to focus analytical and substantive tests on the flow of cash through the company, utilizing financial and nonfinancial information. Learn to identify critical signs of misappropriation of assets and analyze fraud schemes.
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