Accounting firms should prepare, and have executed, detailed engagement letters.
Once the accounting firm decides to undertake the representation of a client, it should obtain a thorough knowledge of the client's business practices.
If markets were liquid and transparent for all assets and liabilities, fair value accounting
clearly would be reliable information useful in the decisionmaking process.
reform of pension and other post-employment benefits (OPEB) will dramatically change corporate balance sheets.
Schipper is a former member of the Financial Accounting
Standards Board, and an expert in financial reporting standard setting and how the capital markets use accounting
It shows the road to the academic life has many forks, which can be pursued at almost any stage of a career in accounting
Herz, Chairman, Financial Accounting
The Association to Advance Collegiate Schools of Business (AACSB) estimated in a 2003 study that the gap between the supply and demand of qualified business faculty (including tax and accounting
faculty) will exceed 1,100 by 2007, and will more than double, to over 2,400, by 2012; see "Sustaining Scholarship in Business Schools: Report of the Doctoral Faculty Commission to AACSB International's Board of Directors," AACSB International, 2003, p.
On May 15, 1998, the Internal Revenue Service released Notice 9831, which contains a draft of a proposed revenue procedure that, when promulgated, will govern changes in accounting
methods initiated by the IRS under the authority of section 446(b) of the Internal Revenue Code.
The second challenge, assuming the time issue can be overcome, is the lack of resources related to accounting
for income taxes.
In July 2004, The Wall Street Journal noted, "while many academic fields are suffering from professor shortages, the issue is more acute in accounting
because of the pull toward high-paying public accounting
in college lures more students," July 29, 2004).
It's difficult for today's accounting
departments to reconcile all accounts on a monthly basis given the shortened SEC filing deadlines and other factors.
Standards Board, with a new 14-member board, established in London by IASC to develop international financial reporting standard.
On behalf of Tax Executives Institute, I am writing to provide comments to the European Commission regarding the use of the International Accounting
Standards (IAS) for company tax purposes in the European Union (EU).
While a central assets account makes it easier to maintain a basic recording system, it's no substitute for a detailed accounting
system, mainly because it deals just with the disbursement side of the business," says Robyn T.