May 2003 - Journal of Accountancy

n Wichita, Kansas, police arrested a 22-year-old male who tried to pass two counterfeit $16 bills at an airport hotel. And in St. Louis, a bus carrying five passengers was involved in an accident. However, when the police arrived, 14 more people were aboard the bus, all complaining of whiplash

EXECUTIVE SUMMARY A CORPORATION THAT IS SOLD OR RESTRUCTURED faces significant uncertainty about how the government will tax contingent liabilities such as environmental, tort and similar obligations. This is particularly true for taxable transactions involving a liability that depends on the outcome of a lawsuit or similar event. AN IMPORTANT

EXECUTIVE SUMMARY PROTECTING THE PRIVACY of personal information is no longer optional for organizations that collect, use and distribute it. Federal law now requires entities to take responsibility for safeguarding the data they gather from customers and patients. ORGANIZATIONS THAT ACCEPT AND FULFILL their privacy-related obligations will find it easier

EXECUTIVE SUMMARY THE COST OF PROVIDING EMPLOYEES WITH HEALTH insurance coverage is increasing at a double-digit rate. Businesses are seeking to solve the problem by decreasing their premium contributions, changing the products they offer or the insurer and even reducing coverage. CPAs can help suggest cost-saving strategies to reduce the

EXECUTIVE SUMMARY A CPA FIRM THAT’S EXPANDING, with more staff at various professional levels and perhaps scattered among different offices, may find it increasingly difficult to manage its training through its human resources department. A FIRM SHOULD IDENTIFY its long-term goals and organize its training around them. It should be