November 1998 - Journal of Accountancy

EXECUTIVE SUMMARY AFTER SEVERAL YEARS OF DELIBERATION , FASB has issued Statement no. 133, Accounting for Derivative Instruments and Hedging Activities. In an effort to keep up with the rapidly changing global financial markets, the statement applies to all derivatives, even those that have not yet been developed. STATEMENT NO.

EXECUTIVE SUMMARY IN RECENT YEARS, SPREADSHEETS have taken on a role far more important than they had in the pre-computer days: shaping business strategies and being used increasingly for ongoing projects by many different people who need to go in and out of a file, to add material and even

EXECUTIVE SUMMARY THE UNIFORM LAWS COMMISSION INTRODUCED a new version of the Uniform Principal and Income Act in 1997. CPAs, who often act as trustees themselves or more frequently advise clients who are trustees, should be familiar with the changes that will result from states adoption of these laws. UPIA-97

EXECUTIVE SUMMARY ONLINE CPE—STILL IN ITS INFANCY— is available to CPAs wherever they are at any time. It saves time and money, especially for CPAs who may have to travel far to attend conventional seminars. BECAUSE VENDORS CAN REACH A HUGE AUDIENCE, they may be encouraged to offer classes in

EXECUTIVE SUMMARY REGULATORY CHANGES ARE UNDER WAY IN the accounting profession, and the AICPA and NASBA are addressing them with a new version of the Uniform Accountancy Act. THIS THIRD EDITION OF THE UAA covers key issues such as globalization of business, the impact of technology, additional services CPAs are

EXECUTIVE SUMMARY YOU CAN HELP YOUR SMALL BUSINESS clients find a rewarding banking relationship in a number of ways. For example, you can Anticipate what the bank will want to know about your client and have the information ready. Make inquiries about the bank. Check out its financials and its

EXECUTIVE SUMMARY THE FEDERAL BANK REGULATORY AGENCIES are encouraging community banks to hire CPAs for attestation engagements. Director’s examinations, which are less rigorous and can be performed by people who are not CPAs, may become obsolete. The new policy is expected to become effective in the first quarter of 1999.