July 2000 - Journal of Accountancy

   EXECUTIVE SUMMARY THE TIME IS RIGHT FOR MAKING A MOVE from the business world to academia as increasing enrollment and other factors help create new positions. BEFORE EMBARKING ON AN ACADEMIC CAREER, practicing CPAs should be aware that academic life is very different. It has special rewards—such as flexible

   EXECUTIVE SUMMARY ALMOST OVERNIGHT, A MULTITRILLION-DOLLAR worldwide bazaar is blossoming out of the Internet, and companies that had never heard of each other before suddenly are buying and selling from each other. THIS IS HAVING A MASSIVE impact on the professional role of corporate CPAs and financial managers. With

     AUDITING SEC, Big Five Agree on Independence Review Program A fter the July 2000 issue of the JofA went to press, the Big Five accounting firms agreed, at the SEC’s request, to review their compliance with rules limiting auditors’ and their relatives’ financial interests in the stock of

   EXECUTIVE SUMMARY ONE OF THE MOST POWERFUL ways to present numerical data is with graphs and charts because they can translate an enormous collection of numbers instantly into a concise, eye-appealing statement. THIS ARTICLE PROVIDES four tools—the horizontal bar graph, the Gantt chart, the thermometer chart and the bubble

   full-color mailer with a tired approach is no more a promotion than a Volkswagen Beetle painted red is a Ferrari. Think creatively to grab your readers’ attention; focus on a key idea; and make it worthwhile. “Mailings that offer a special promotion encourage a response,” says John Schulte, executive

   EXECUTIVE SUMMARY ALTHOUGH MOST CPAs HAVE their own personal retirement accounts, a surprising number of practitioners don’t have formal retirement plans for their businesses. AS RETIREMENT PLANS ARE DEVELOPED, senior partners may have doubts about whether their successors can honor future obligations, intend to stay with the firm or

   EXECUTIVE SUMMARY SINCE SOP 98-1 BECAME EFFECTIVE IN 1999, companies have begun to comply with its requirements on accounting for internal-use computer software. What some companies may not realize is there are ways to leverage the statement’s requirements to improve business performance. APPROACHED CORRECTLY, SOP 98-1 IS A CHANCE

   EXECUTIVE SUMMARY EXCHANGING REAL ESTATE OR PERSONAL PROPERTY under IRC section 1031 enables taxpayers to postpone the tax consequences when selling investment property. CPAs should be aware of specialized exchange techniques that are available to cover more unusual situations. MOST EXCHANGES MAKE USE OF THE SERVICES of a qualified