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.
The AICPA hosted a round-table event among CPAs from the personal financial planning community to discuss the recent financial crisis, its effect on client investment strategies, and the outlook for the future.
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.
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:
CPAs in public practice and the banking industry discuss the importance of reaching out to clients and share perspectives on how the economy is affecting clients' business.
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.
Insight, Illinois CPA Society, May/June 2009
Even during uncertain times, demand remains strong for finance executives whose expertise is invaluable during marketplace shakeups. In fact, the Robert Half Global Financial Employment Monitor reports that some employers are having difficulty filling finance positions, including those in the C-suite. This article uncovers where the best opportunities can be found. It also explains strategies CPAs can follow to position themselves for these jobs; compensation estimates; necessary skills, qualities and expertise; and job demands and expectations.
This downloadable Publication On-Demand shows how CPA firms can take advantage of opportunities the current economy presents. Learn how to analyze your structure, culture, and "service offering curve" to maximize opportunities now and in the subsequent recovery.
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This new comprehensive CPE self-study course will help you identify and react to the areas of increased audit risk that have developed along with the crisis. Earn 8 CPE credits.
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This Audit Risk Alert focuses on the current economic crisis, legislative and regulatory actions taken to curtail the crises, and accounting and auditing issues arising as a result of these events.
Showcases the profession's leading experts on what's "hot" at the SEC. Live Webcasts in Feb, Jun, Sep, and Dec.
Along with advice regarding income, gift, and estate taxes, your clients may need your help to plan for future long-term care needs. Get answers on elder law issues, including advanced directives, Medicaid, Medicare and other topics facing elderly clients.
The Accountant's Business Manual has proven to be a dependable complete "quick answer book" for a wide array of business, legal, tax and financial questions.
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.
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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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