Practicing CPA, The

Ten Technologies That Impact Your Firm and Your Clients

One of the lists most useful for CPA firms is the AICPA's Top Ten Technologies list. For more than 20 years, the Institute's Top Ten Technologies program has served to educate AICPA members in public accounting, business and industry, government, and education-and perhaps their clients as well. The following are the 2005 top ten technologies: 1. information security, 2. electronic document management, 3. data integration, 4. spam technology, 5. disaster recovery, 6. collaboration and messagin...

Looking Ahead: Emerging Technologies

In addition to a list of the top ten technologies, the AICPA Top Technologies Task Force issued a list of five emerging technologies: 1. RFID (radio frequency identification), 2. search, 3. fuel cells, 4. digital home, and 5. display technology.

Should Peer Review Results Be Public?

AICPA's governing council approved a resolution at its Spring 2004 meeting supporting increased transparency in the peer review process. It also authorized a member awareness program to inform members about the issues surrounding peer review transparency and to assess their opinions about two possible ways to make peer review results more available. The two possible ways are: 1. Creating a public file that would be open to inspection by the general public, or 2. Creating a state regulatory ...

Top Ten Financial Reporting Challenges

The top ten financial reporting challenges companies face in 2005 as identified by Financial Executives International (FEI), a professional association of CFOs, treasurers, and controllers based in Florham Park, New Jersey, are: 1. stock option expensing, 2. complying with Sarbanes-Oxley, 3. revenue recognition, 4. assessing sustainability of tax benefits, 5. recording taxes on repatriated earnings, 6. accounting for business combinations, 7. expensing inventory costs, 8. disclosing off-balan...

Resources for Disaster Recovery

A list of Web site resources for disaster recovery of interest to accounting firms and CPAs is presented.

Office Security: 'Important' Small Business Issue

According to the Information Technology Solution Providers Alliance (ITSPA) survey, the majority of solution providers ranked the following five amall and medium-size business security issues as "most important": 1. Upgrading the computer network 2. Upgrading the computer firewall 3. Regularly auditing computer and software inventories 4. Downloading computer security updates 5. Installing up-to-date antivirus software.

Map Networking Group Meetings!

Practitioner's Symposium

Pcps Update

Pcps Update - Critical Information for Cpa Firms

360 Degrees of Financial Literacy

The AICPA has launched 360 Degrees of Financial Literacy, a volunteer database for CPAs interested in improving America's financial knowledge. This will allow all CPAs to join the effort to educate Americans of all ages on financial topics that apply to their life stage and needs. The program also provides an excellent opportunity for firms to elevate their firm brand in their locale and position themselves as financial experts.

Did You Know?

Top performers among small to medium-sized CPA firms averaged $1.77 million in total income versus $1.49 million for all firms combined. That is just one of the many findings of this year's PCPS/TSCPA National MAP Survey. Top performers were defined as the top 25% of respondent firms across all regions using earnings per owner and earnings per owner per hour weighted equally. Top performers bested all firms combined in the categories of: 1. Net remaining for owners - $736,273 for top performe...

'My Cpa Says Extend!'

The PCPS has developed an indispensable brochure entitled: My CPA Says Extend." Clients with complicated or incomplete data sometimes think that extensions will cause trouble or lead to an audit. This PCPS brochure explains the extension process and answers common questions in an easy to read, understandable format.

Complying with Ethics Interpretation 101-3: Nonattest Services

As of December 31, 2004, practitioners are required to comply with Ethics Interpretation No. 101-3, Performance of Nonattest Services, under Rule 101, Independence. The documentation requirement applies to all nonattest services in process on or commencing after December 31, 2003.