the Joint Committee on Taxation) and others (including this column's authors) pointed out that the rules on accounting for income taxes left room for managers to manage earnings through the tax provision without detailed disclosure.
As a result, the tax function mission of "enhancing shareholder value," while still important, must now be evaluated through a new filter imposed by Congress and the IRS--"transparency through disclosure" Members of the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) have stated that "sunlight is the best disinfectant" for cleansing financial statements of aggressive interpretations of tax accounting rules.
While the number of students earning bachelor's degrees in accounting is rising, fewer are getting doctorates.
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 jobs" ("Accounting in college lures more students," July 29, 2004).
During its post-closing adjustment review process, the company should accumulate and review any significant nonposted reconciling items identified from the reconciliations and other uncorrected/unrecorded accounting
entries identified during other review processes to determine whether the books should be reopened and any or all of these entries posted.
For this, we can analyze the effects of postretirement benefit accounting
reform by looking at how the financial market's view of plans will change--that is, we will ask how accounting
reform will affect the share prices of plan sponsors.
However, as I will discuss in a moment, a number of important issues warrant further consideration, especially before dramatic moves are made toward increased fair value accounting
A lot of what we are trying to do right now is maintain the status quo on accounting
for insurance contracts," he said.
The current endorsement procedure of IAS provides Member States with the necessary level of "control" over accounting
standards in the EU.
In a different scenario, a wealthy client sought estate-planning advice from a midsize accounting
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
If you're interested, you should try it," says Susan Crosson, professor of accounting
coordinator at Santa Fe Community College in Gainesville, Fla.
Topics will include corporate governance, staff competencies, accounting
complexities, and business models and process analysis.
programs are finding it more difficult to staff their courses adequately and are hiring part-time adjunct or "clinical" faculty in greater numbers; other programs are reducing course offerings.
On July 30, 1998, Tax Executives Institute submitted the following comments on Notice 98-31, relating to IRS-initiated accounting