March 2008 - Journal of Accountancy

         EXECUTIVE SUMMARY Under its policy of voluntary disclosure, the IRS can forbear from referring for criminal prosecution taxpayers who come forward to admit previously unreported tax liabilities. CPAs may be in a position to learn of clients’ intentions to make such disclosures. Where disclosures could otherwise

     EXECUTIVE SUMMARY Vision. Start with a clear vision of a finance team that is involved in the business and engaged in key management decisions. Stakeholders. Identify and engage key stakeholders right away. Conduct structured interviews to identify what is most important to your internal clients. Current Organization. Immediately

     Barry Salzberg took the reins of Deloitte & Touche USA LLP as CEO in June 2007, three decades after the firm hired him as a tax specialist. As the U.S. managing partner from 2003–2007, he helped then-CEO James Quigley shape Deloitte’s strategy and was credited with advancing recruitment

     EXECUTIVE SUMMARY Experienced CPAs will often recognize early signs of financial distress when performing routine audits, accounting or tax services for a midsize business. A turnaround requires decisive and confident leadership and a willingness to change. Top management is usually under stress at this point, requiring outside assistance

       EXECUTIVE SUMMARY Employee stock options (ESOs) more closely resemble warrants than traditional options in that they result in the issuance of additional shares of stock. Like warrants, ESOs impact stock values because they are dilutive. To determine the value of ESOs for a closely held company, first

       EXECUTIVE SUMMARY It is essential for board members, executive officers, CFOs, auditors and private equity investors to comprehend option-pricing models used to determine the per-share values of common and preferred shares. The AICPA Practice Aid, Valuation of Privately-Held-Company Equity Securities Issued as Compensation , describes three methods