Journal of Economics Business Accountancy最新文献

{"title":"Taxation and Electronic Commerce","authors":"T. Hollingsworth","doi":"10.1787/9789264189799-en","DOIUrl":"https://doi.org/10.1787/9789264189799-en","url":null,"abstract":"","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"50 1","pages":"29"},"PeriodicalIF":0.0,"publicationDate":"1997-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86134781","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Foot in the Door","authors":"A. Dennis","doi":"10.2307/j.ctv6wgm5f.28","DOIUrl":"https://doi.org/10.2307/j.ctv6wgm5f.28","url":null,"abstract":"A CPA who isn't afraid to stand alone builds a solo practice in New York City. Can a CPA build a profitable practice by promoting a specialty in low-level services, such as bookkeeping? The common wisdom says absolutely not, but a New York City sole practitioner has used these services as a stepping stone to more complicated assignments from clients to whom she otherwise might not have had access. She also has turned herself into a marketing expert--focusing in particular on opportunities with small business owners--and built niches among women-owned businesses and media and entertainment clients. UP THE LADDER Ginger Broderick came to New York in 1981 from a small town in Illinois. After growing up in a family of business owners, she was determined to have her own company, so she obtained an accounting degree and got a job with a CPA firm that served small businesses, the market in which she planned to specialize. During a year-and-a-half stint at her first firm, she methodically interviewed more experienced staff on their career histories and satisfaction and how they had achieved their positions. \"I wanted to get feedback on the different paths they had taken and what they did and didn't like about them,\" she says. She concluded that tax and business planning seemed to be the most appealing and lucrative specialties. At the same time, however, she realized that the firm could not offer her the training in technology she would need to succeed: In the mid-1980s, the 200-person firm had three computers. So, she interviewed at 28 firms to find a practice in which she would spend the next five years learning about tax and computers--and laying the foundation for her own business. Finally, in 1992, she was offered a 3-month full-time project that was to begin in September and decided to use it as the platform to launch her own practice. \"If it didn't work out, I always had the chance to hop back into a CPA firm for tax season,\" she remembers. The 3-month assignment turned into a 10-month project because once Broderick took the accounting responsibilities off the shoulders of the sales department, the client found the salespeople could do the work they were hired to do. The company experienced tremendous growth and, in turn, required even more help in planning and development for its accounting, tax and management functions. Thus, a new accounting firm was born. THE RULE OF SECONDS One of Broderick's first tasks was to network and expand her business as much as possible. She follows what she calls the rule of seconds, taking what might be considered second-choice assignments because of the potential advantages they offer. For example, she has found that people don't change accountants very easily, so she promotes bookkeeping services either for those without computers or for start-ups that need someone to initiate their computerization. At the beginning of these engagements, \"I make sure I have a very strong presence with that business owner in the f","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"39 1","pages":"63"},"PeriodicalIF":0.0,"publicationDate":"1997-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81107166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Do Clients Want","authors":"Don M. Pallais, Ellen L. Good","doi":"10.5040/9781526507969.chapter-003","DOIUrl":"https://doi.org/10.5040/9781526507969.chapter-003","url":null,"abstract":"Clients think the ideal CPA will recognize a problem and offer a service to help solve it. If a CPA firm wants to expand, there are two ways to do it: sell more services to existing clients or find new clients. Conventional wisdom is that the former is more efficient because the relationship and track record already exist. But not all clients want additional services. Is the disposition to obtain additional services a characteristic of the client? Or a reaction to the CPA who serves that client? During the work of the American Institute of CPAs special committee on assurance services, we explored why clients obtained enhanced CPA services by questioning satisfied clients and the partners who serve them to find common elements of their relationships. We learned that many companies would welcome more input from their CPAs. Practitioners need to take the initiative to learn what clients need--and then inform the clients of what services they can provide to meet those needs. THE CPA AS TRUSTED BUSINESS ADVISER The client that receives more than traditional accounting, auditing and tax work sees the CPA as a trusted business adviser. The committee ran a series of focus groups to elicit clients' opinions of what they value in this adviser. (See the sidebar on page 77 for the kinds of clients most likely to purchase enhanced services.) The participants were clients of small to midsize CPA firms in different parts of the country that purchase nontraditional services from their CPAs, including business advice, strategic planning, coaching and mentoring, mediation, mergers and acquisitions work and computer consulting. Many use the CPA as a referral source for help with just about any business need. The focus groups served as a reminder that clients relate to people, not firms. When participants discussed their relationships with the CPA firms, they invariably spoke in terms of specific individuals in those firms--generally the partner on the engagement. This suggests, of course, that excessive or unexplained staff changes can have a detrimental effect on the client relationship. An important component of the relationship is a factor most people called \"chemistry.\" Relationships with the right chemistry usually involve a partner who takes a genuine interest in the client and his or her business. Both the client and the CPA are comfortable enough with each other to allow For a free exchange of information and ideas. It is when this special chemistry between partner and client is missing that staff changes should be made--until the relationship works for everyone. The relationship also involves trust. As one client said, \"I always walk away saying, 'That's going to be handled right.' I feel I've left part of the burden there and it's going to be okay.\" Conversely, clients complained about CPAs who * Don't take the time to understand the client and the business other than in a narrow way. * Are sloppy about details and don't think situations through. * Are un","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"65 1","pages":"75"},"PeriodicalIF":0.0,"publicationDate":"1996-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81618934","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Elusive Holy Grail","authors":"Stanley Zarowin","doi":"10.4135/9781446220863.n10","DOIUrl":"https://doi.org/10.4135/9781446220863.n10","url":null,"abstract":"While many of the available products are useful even essential none can replace the knowledge and experience of the practitioner. If you're planning to get into personal financial planning, don't expect to find the holy graff the profession's jargon for the single, off-the-shelf software product that not only asks all the right questions of clients but also provides all the right answers and then automatically generates the necessary reports. To be sure, the market is awash with PFP software products--some costing as little as $15 and others priced in the thousands. The number of products in this field is no surprise: It follows the meteoric rise of professional interest in PFP, especially among CPAs who see it as the hot new professional field and the place to be. And that, too, is no surprise: With some of the major areas of accounting showing either little or no growth, many CPAs are turning to PFP as a way to expand or at least offset softness in those other service areas. As a result, many PFP wannabes are signing up for continuing education workshops in the subject and seeking guidance from experienced practitioners. Invariably, at some point in the learning curve the novices all ask the same question: What software should I use? TRUSTING SOFTWARE Bart Francis, a Hershey, Pennsylvania, CPA, a PFP teacher, practitioner and consultant, frequently fields that question, triggering a fatherly lecture warning against relying too heavily on any software package. \"Don't buy software to become a planner,\" he explains. \"You must first get the technical essentials under your belt. Only then will you be able to use the software with any degree of effectiveness.\" Francis is managing partner of the CPA firm Schellemhamer & Co. and president of Wealthquest, a registered investment adviser. He also has a personal financial specialist (PFS) certificate issued by the American Institute of CPAs. Concurs Terry Stock, a Friendswood, Texas, CPA, who holds one of the first AICPA PFS certificates and is also a PFP teacher, practitioner and consultant: \"I use a comprehensive PFP program to give me a trend line for a client. It helps me see some of the possible future problems--such as an estate tax problem that may develop 10 or 15 years from now.\" But, he adds, the software cannot provide all the answers--nor can it even raise all the questions. \"For that,\" he adds, \"you need to develop personal knowledge.\" For many just starting out in the field, the issue is not just whether the software can perform the planning and do all the calculations, but something more fundamental: Can it raise all the pertinent questions? For example, an effective personal financial planner should ask a client about everything from annuities to zero-coupon bonds, including queries about insurance, the existence of stock options, plans for the children's college expenses, terms of a will and myriad other issues. What makes such questioning complicated is that each answer often prompts a w","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"79 1","pages":"59"},"PeriodicalIF":0.0,"publicationDate":"1996-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79761240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The New Computer","authors":"Stanley Zarowin","doi":"10.1111/j.1949-8594.1953.tb07039.x","DOIUrl":"https://doi.org/10.1111/j.1949-8594.1953.tb07039.x","url":null,"abstract":"Is the Internet killing the local area network? The computer as we know it may soon go the way of the columnar pad. And if it goes, it may take with it much of the traditional application software we use to write reports, crunch numbers and perform database functions. It may even antiquate the software and the hardware for local area networks (LANs). What's behind all this? The Internet. What started as a slow, clumsy communication tool for researchers and the military has become a communication superhighway for anyone with a telephone and a computer. And now, with the development of some unique software and the growing use of highspeed phone lines--integrated services digital network (ISDN), which can handle considerably more data than ordinary analog phone lines--the Internet may revolutionize how we work with computers. The impact of all this? Surely it will affect all computer users--including the sole CPA practitioner as well as all the accountants in the finance department of a Fortune 500 company. THE DAYS ARE NUMBERED Before you rip out your network cables, junk your new Pentium computer and toss out your copies of WordPerfect and Lotus, be aware that not everyone agrees that the days of today's computer are numbered. And even those who do concede its end is inevitable are reluctant to put a date on this computer Armageddon. To understand the significance of all this, some background is necessary: Whether you're working in a small or a large office, it's likely that your computers are networked-- linked by wire or came so that each machine can communicate with all the others on the network. And, depending on the size or technical status of your organization, all your application programs (such as your word processor or spreadsheet) and the data they generate are stored either on the hard disk inside your computer or on a central, remote computer, called a \"server.\" The server literally- serves up the application or the data you need to work, and the LAN system transports them through its maze of cables to your desktop. Enter the Internet, which is analogous to a LAN, except it runs on phone lines, not special LAN cables, and its reach is worldwide--extending to all of the millions of computers linked to the Internet. Thus, even if your office is not expensively wired for a LAN, you can exchange files with a colleague down the hall as long as both of you are connected to the Internet. Ditto with a colleague in Tokyo, London or Nashville. Admittedly, for most users Internet data transmission is a bit slow, since information must flow through conventional phone lines using a relatively out-of-date analog design. But with the new' high-speed digital phone systems and modems, data zip along at least four times faster. And some of the compression techniques for packing the data in tighter bundles effectively increase the speed even more. As a result, many users--especially businesses--appreciate the economies of high data-transmission speeds an","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"273 1","pages":"51"},"PeriodicalIF":0.0,"publicationDate":"1996-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83036216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Use of Analytical Procedures","authors":"E. Blocher, George F. Patterson","doi":"10.1002/9781119449515.ch1","DOIUrl":"https://doi.org/10.1002/9781119449515.ch1","url":null,"abstract":"Auditors facing competitive market pressures for audit services continually reassess the efficiency of audit procedures while maintaining the overall effectiveness of the audit plan. Current guidance for the application of analytical procedures as part of the audit is found in Statement on Auditing Standards no. 56, Analytical Procedures. In 1993, the auditing standards board formed a task force to consider certain issues related to SAS no. 56 and the need for additional guidance. Although the task force concluded that SAS no. 56 did not need to be amended, it recommended an auditing procedures study be developed to aid practitioners in applying analytical procedures. The purpose of this article is to discuss common concerns expressed to the task force about the use of such procedures in practice and to emphasize some of the cautions about their use. THE NEED FOR AN EXPECTATION An expectation is an estimate of an account balance based on * The auditor's analysis of the trend of the account. * Related financial ratios. * Explicit financial models of factors that affect the account. One question posed to the task force was whether an expectation is a prerequisite to performing analytical procedures. Paragraph 5 of SAS no. 56 says, \"Analytical procedures involve comparisons of recorded amounts, or ratios developed from recorded amounts, to expectations developed by the auditor.\" (Emphasis added.) Proper application of analytical procedures in accordance with SAS no. 56 requires the development of an expectation. This is true regardless of the audit phase (planning, substantive testing and final review) in which analytical procedures are used. The expectation is compared with the recorded amount--or other benchmarks derived from recorded amounts--to assess the potential for misstatement. Without an expectation as the first part of an analytical procedure, the procedure is potentially biased by other irrelevant information. For example, a comparison of current and prior year balances is biased by the presumption that prior year balances are relevant predictors of what current balances should be. Using the current-to-prior-year comparison approach increases the chance auditors will not properly identify an account for which the balance should have changed significantly, for example, because of the effect a sharp increase in utility rates has on utility expenses. Using analytical procedures without starting with an expectation can be compared to a medical doctor performing a routine physical on a patient without consulting the patient's medical records. The patient's blood pressure and weight as observed in a physical, for example, cannot be interpreted properly outside the context of his or her complete medical history. Moreover, for the doctor to consult the records after having observed the patient introduces bias, as the doctor naturally has already begun to consider potentially irrelevant and distracting hypotheses for the patient's observed condit","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"11 1","pages":"53"},"PeriodicalIF":0.0,"publicationDate":"1996-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72666583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Creative Professional","authors":"R. Half","doi":"10.4324/9780203019771","DOIUrl":"https://doi.org/10.4324/9780203019771","url":null,"abstract":"Robert Half, CPA, founder of Robert Half International Inc. and author of six books on the work place, talks about the value for CPAs of seeing the world--and themselves--through different eyes. The Journal welcomes readers' questions on employment concerns, which should be sent to Career Clinic, Journal of Accountancy, Harborside Financial Center, 201 Plaza III, Jersey City, New Jersey 07311-3881. Certain professions--advertising, for example--are thought of as being \"creative.\" Accounting is not considered to be one of these professions. But creativity is not limited by profession. In today's complex world of finance and accounting, CPAs must find creative solutions to myriad problems. The men and women who rise to this challenge are the ones who will be most likely to advance faster and further in their careers. Not all advertising professionals are creative, any more than all CPAs lack inspiration. But the most successful people in both professions generally have that creative spark. Any CPA who has ferreted out fraud has been engaged in a highly creative act. When I was only two years into my accounting career, the large CPA firm for which I worked asked me to analyze an important client's general ledger accounts. I took it upon myself to examine the client's payroll controls also, which led me to believe the payroll manager of this New-York-Stock-Exchange-listed company was stealing. I reported that to my superiors and suggested a detailed audit be conducted. A year later, the payroll manager went to jail. CPAs frequently take this same kind of initiative--as a result of their own creativity in approaching a client's or employer's problems. Our own misconceptions about how good ideas are generated often are a hindrance to enhanced creative thinking. In any profession, certain people are considered the \"idea people.\" They're the ones who always seem to have fresh insights and innovative ways to solve problems. Were these people born with some special talent? I think not. Every person is capable of generating more and better ideas. The key is a personal commitment to finding new solutions. Once that commitment is made and time is set aside specifically for that purpose, ideas inevitably begin to flow. Here are some techniques that will be helpful to practitioners: * Keep in shape. Ideas come from that \"muscle\" called the brain. It needs to be exercised, just like any other muscle. The more work a muscle gets, the greater its capacity. The same holds true for our brains. Too often we slide through the day doing most things by rote. After too many such days, our brains become flabby. * Avoid self-censorship. …","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"50 1","pages":"117"},"PeriodicalIF":0.0,"publicationDate":"1994-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75572991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Gadgets and Gizmos","authors":"Stanley Zarowin","doi":"10.1057/9781137449177.0006","DOIUrl":"https://doi.org/10.1057/9781137449177.0006","url":null,"abstract":"","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"53 1","pages":"47"},"PeriodicalIF":0.0,"publicationDate":"1994-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86754494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Primer in trusts","authors":"Phyllis J. Bernstein, Stephen J. Rojas, Murray B. Schwartzberg","doi":"10.5040/9781526509536.chapter-017","DOIUrl":"https://doi.org/10.5040/9781526509536.chapter-017","url":null,"abstract":"Trusts are common but complex estate planning tools. Oliver Wendell Holmes said, \"Don't put your trust in money; put your money in trust.\" In estate planning, most individuals try to minimize the taxes on their estates and control how their property will be distributed at death. These seemingly straightforward objectives are complicated by federal estate and gift tax laws and applicable state tax and nontax laws. Creative use of trusts as part of a comprehensive estate plan can help ensure * Property is transferred according to an individual's wishes. * Probate headaches are avoided. * Federal and state tax burdens are minimized. This, article examines the use of trusts in estate planning. Although a comprehensive discussion of estate and gift tax provisions is beyond the article's scope, brief explanations are included when appropriate and a glossary of relevant trust terms appears on page 60. TRUSTS A trust is a legal entity established by a person (known as the grantor, settlor, testator or trustor) either while living or through a will at death. The grantor transfers legal title to property, known as the trust corpus or principal, to the trustee, who manages the corpus for the benefit of named beneficiaries. The trustee also distributes income and corpus according to the instructions in the trust instrument or, in the absence of instructions, according to state law. Trusts offer planning flexibility. Grantors generally can design trusts to meet specific planning objectives, limited only by the restrictions of applicable state law and the practical considerations of federal and state tax laws. Trusts have a price. Besides the legal costs of establishing trusts, there generally are trustee fees, accounting and record-keeping costs and expenses of filing annual income tax returns. Noncompliance with federal and state laws in creating or operating trusts can be costly, resulting in an unexpected tax bite or failure to satisfy the grantor's objectives. USES OF TRUSTS IN ESTATE PLANNING Trusts can be valuable when planning for death taxes, probate administration, continued control of property or some combination of all three. Death tax planning. Federal estate tax and state estate or inheritance taxes generally are imposed only on property in which an individual holds an interest at death. Transferring property to an irrevocable living trust in which the grantor surrenders all ownership interests excludes the corpus from the grantor's taxable estate. A transfer to a revocable trust does not produce the same result because the grantor is able, until his or her death, to reclaim the corpus or terminate the trust; the actual corpus transfer is deemed to occur at death. The transfer of property to a trust is considered a gift under most estate and gift tax laws. Any death tax savings should be evaluated in light of potential gift tax liability when the property is transferred to the trust. Probate estate planning. For probate purposes, property transfe","PeriodicalId":31457,"journal":{"name":"Journal of Economics Business Accountancy","volume":"1 1","pages":"57"},"PeriodicalIF":0.0,"publicationDate":"1993-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74855593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}