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National Public Accountant, The

is personal cell phone use out of control in your organization?

Cell phone etiquette at work: is personal cell phone use out of control in your organization? Greg Taillon HOW MANY TIMES HAVE YOU HEARD SOMEONE’S CELL PHONE RING AT WORK? IN TODAY’S WIRELESS SOCIETY, EVERYONE SEEMS TO BE CONNECTED, HOWEVER, THOSE PESKY CELL PHONES CAN LIMIT PRODUCTIVITY. UNTIL RECENTLY, COMPANIES HAD CONTROL OF COMMUNICATIONS BY […]

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National Public Accountant, The

cleaning garbage off your system

Making sense out of your computer: cleaning garbage off your system Caleb Jones When you first buy your computer, it has plenty of free space and runs fast. After all, it is nice and clean. As time goes on, you install software, utilize software, get email attachments, and create data. All of this creates garbage […]

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National Public Accountant, The

Small business growing pains

Small business growing pains Louis A. Orlando Small Business Growing Pains I recently met a young heating and air conditioning (HVAC) contractor who had just filed a Chapter 11 bankruptcy and several of his creditors. The young businessman had many of the characteristics necessary for success in business: above average intelligence, neat personal appearance, good […]

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National Public Accountant, The

Sources of stockholders’ equity: retained earnings and dividends

Sources of stockholders’ equity: retained earnings and dividends Anna D. Gowans Young In recent columns we have talked about incorporating and how the contributed capital accounts change after the formation of the corporation. This month we will look at retained earnings and dividends. RETAINED EARNINGS Retained earnings are the sum total of a corporation’s accumulated […]

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National Public Accountant, The

Personal liability of directors of not-for-profit corporations

Personal liability of directors of not-for-profit corporations Ralph V. Switzer, Jr. This article contains research results of an original survey of not-for-profit organizations, with focus upon the Board of Directors. The information gathered from the survey allows an analysis of the operations of not-for-profit entities for determination of possible personal exposure to Internal Revenue Code […]

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National Public Accountant, The

a victory for fair value accounting

SFAS 115: a victory for fair value accounting James H. Thompson Statement on Financial Accounting Standards No. 115 (SFAS 115), Accounting for Certain Investments in Debt and Equity Securities, represents another victory for proponents of fair value accounting. Accounting for financial instruments i general has recently been a priority of the FASB. Previous standards have […]

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National Public Accountant, The

statement of financial accounting standards No. 103

Reporting comprehensive income: statement of financial accounting standards No. 103 S.G. Strickland Comprehensive income is defined as the change in equity (net assets) of a business enterprise during a period resulting from transactions and other events and circumstances from nonowner sources.(1) Using this definition, certain income items that now appear in financial statements as direct […]

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National Public Accountant, The

Going-concern audit report recipients before and after SAS No. 59

Going-concern audit report recipients before and after SAS No. 59 Marshall A. Geiger It has been suggested that SAS No. 59, one of the profession’s “expectations gap” standards issued in 1988, increased auditors’ responsibility vis-a-vis going concern. Since SAS No. 59 was issued as an expectations gap standard to better serve financial statement users and […]

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National Public Accountant, The

Application of SAS No. 82 to audits of small businesses

Application of SAS No. 82 to audits of small businesses Thomas A. Radcliffe * Describes fraud and its characteristics. * Requires the auditor specifically to assess the risk of material misstatement due to fraud and provides categories of fraud risk factors to be considered in the auditor’s assessment. * Provides guidance on how the auditor […]

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National Public Accountant, The

Subchapter S corporations gain big under new tax laws

Subchapter S corporations gain big under new tax laws Jeffrey A. Lear The changes are primarily focused on increasing access to capital for S corporations, increasing estate planning opportunities for S corporations and easing the administrative burden on S corporations. The new provisions also provide a variety of new opportunities and challenges for S corporations […]