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We'll show you how to automate your entire 1040 and 1120 tax workflow, from online client organizers to client research and the delivery of finished returns directly to secure client portals. You'll get a free white paper for attending one or both of our 90-minute webcasts. Learn more |
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- Execs profit from trades ahead of announcements, review shows
Executives who trade their company's stock in the week before an important announcement are almost twice as likely to post a profit than a loss, according to a review of trades since 2004 by The Wall Street Journal. Insiders who dip irregularly in and out of their company's stock make a quicker profit than those whose trading follows a predictable annual pattern, the newspaper found. The Wall Street Journal
(11/27)     
 | AICPA Conference on Current SEC and PCAOB Developments
Dec. 3-5, Washington, DC: Get the latest SEC & PCAOB updates directly from the regulators, including issues affecting SEC reporting entities and their auditors. Attend the live conference or one of 4 simulcast locations. Virtual option also available. > Register Now |
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- New U.K. standards call for careful evaluation
The Financial Reporting Council has released the first two parts of a framework that will replace U.K. GAAP. The new standards allow for reduced disclosures for subsidiaries, but advisers say companies should weigh carefully how the rules might be applied to them and not underestimate the cost and effort involved. Financial Director (U.K.)
(11/25)
| Tax Spotlight | | |
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- Why practitioners should have a tax practice quality control system
Tax practitioners today face a new environment, with increased return preparer penalties, revisions to Circular 230, Internal Revenue Service initiatives, and increased client expectations. Gerard Schreiber, CPA, explains why practitioners in this new environment should have a tax practice quality control system in place and how it will help ensure that they provide high-quality tax services to clients and meet current regulatory requirements. The Tax Adviser
(11/2012)
| Policy & Regulatory | | |
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- Obama proposes small-business tax breaks
President Barack Obama asked Congress to appropriate $25 billion to cover the cost of tax breaks for small businesses that hire workers or give pay raises to current employees. Under the proposal, small businesses would get a refund of 10% of increased payroll costs. The Washington Post
(11/27)
- Incoming SEC chief will face many challenges
Elisse Walter, the designated successor to Mary Schapiro as head of the Securities and Exchange Commission, will immediately face a number of issues, such as the back-and-forth over regulation of money market mutual funds and Dodd-Frank rules not yet finalized. Also, unless President Barack Obama renominates her and the Senate approves, her term could end in one year. Reuters
(11/27)
| International View | | |
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- OECD warns about Europe as it cuts growth forecasts
The Organization for Economic Cooperation and Development lowered its forecasts for global economic growth, noting that the eurozone debt crisis is the greatest threat. "The U.S. fiscal cliff is a very important source of concern, but the greatest downside risk remains the eurozone," Chief Economist Pier Carlo Padoan said. The OECD says that if leaders fail to resolve the debt crisis, central banks must be prepared for more monetary easing. Reuters
(11/27)
| Here & There | | |
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- Is your state well-run?
North Dakota is the best-run state in the U.S., according to a 24/7 Wall Street analysis that looks at debt per capita, budget deficits and state unemployment.
It's followed by Wyoming and Nebraska. The worst-run states are California, Rhode Island and Illinois. 24/7 Wall St.
(11/27)
| Leadership & Trends | | |
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| AICPA News | | |
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 | I may not have gone where I intended to go, but I think I have ended up where I intended to be."
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| About AICPA |
The American Institute of Certified Public Accountants is the world’s largest association representing
the accounting profession, with nearly 386,000 members in 128 countries and a 125 year heritage of serving the public interest. AICPA members represent
many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the
profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and
grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business
valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global
Management Accountant designation to elevate management accounting globally.
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| | Recent CPA Letter Daily Issues:
- Tuesday, November 27, 2012
- Monday, November 26, 2012
- Wednesday, November 21, 2012
- Tuesday, November 20, 2012
- Monday, November 19, 2012
| | | Lead Editor: Tom Anderson
Contributing Editor: Erika Morphy
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