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Supreme Court<br /> Ruling on the<br /> PCAOB<br /> The Constitutionality of Sarbanes-Oxley<br /> and the Future of Independent<br /> Federal Regulatory Agencies<br /> Plus<br /> · Educators' Opinions of IFRS<br /> · Individual NOL Deductions<br /> · Marketing for CPAsC ONTENTS<br /> august 2010<br /> 20 Accounting & Auditing<br /> ❙ Accounting<br /> Recent Developments in Fair Value Accounting<br /> By Avinash Arya and Alan Reinstein<br /> ❙ International Accounting<br /> Mapping the Road to IFRS:<br /> A Survey of CPAs in Public Practice<br /> By Joseph M. Langmead and Jalal Soroosh<br /> ❙ Accounting<br /> The Financial Statement Effects of Capitalizing<br /> <a title="The CPA Journal - August 2010 page 1" href="http://viewer.zmags.com/publication/0fb1996c?page=1">Supreme Court Ruling on the PCAOB The Const</a> <a title="The CPA Journal - August 2010 page 2" href="http://viewer.zmags.com/publication/0fb1996c?page=2"></a> <a title="The CPA Journal - August 2010 page 3" href="http://viewer.zmags.com/publication/0fb1996c?page=3"></a> <a title="The CPA Journal - August 2010 page 4" href="http://viewer.zmags.com/publication/0fb1996c?page=4">C ONTENTS august 2010 </a> <a title="The CPA Journal - August 2010 page 5" href="http://viewer.zmags.com/publication/0fb1996c?page=5">vol. LXXX/no.8 </a> <a title="The CPA Journal - August 2010 page 6" href="http://viewer.zmags.com/publication/0fb1996c?page=6"> Publisher JOANNE S. BARRY </a> <a title="The CPA Journal - August 2010 page 7" href="http://viewer.zmags.com/publication/0fb1996c?page=7"> Did you Did you Did you know the know th</a> <a title="The CPA Journal - August 2010 page 8" href="http://viewer.zmags.com/publication/0fb1996c?page=8">P ERSPECTIVES viewpoint A CFO's Map t</a> <a title="The CPA Journal - August 2010 page 9" href="http://viewer.zmags.com/publication/0fb1996c?page=9">publisher's column Law's Anniversary I</a> <a title="The CPA Journal - August 2010 page 10" href="http://viewer.zmags.com/publication/0fb1996c?page=10">(Continued from page 6) es. There are various typ</a> <a title="The CPA Journal - August 2010 page 11" href="http://viewer.zmags.com/publication/0fb1996c?page=11">pricing on a smaller quantity or for fewer ser- v</a> <a title="The CPA Journal - August 2010 page 12" href="http://viewer.zmags.com/publication/0fb1996c?page=12">ry and sales figures, and using common sense. </a> <a title="The CPA Journal - August 2010 page 13" href="http://viewer.zmags.com/publication/0fb1996c?page=13">international accounting Ith</a> <a title="The CPA Journal - August 2010 page 14" href="http://viewer.zmags.com/publication/0fb1996c?page=14"> Many are surprised to hear that FASB and the I</a> <a title="The CPA Journal - August 2010 page 15" href="http://viewer.zmags.com/publication/0fb1996c?page=15">inbox: letters to the editor CPAs Sho</a> <a title="The CPA Journal - August 2010 page 16" href="http://viewer.zmags.com/publication/0fb1996c?page=16">In Focus </a> <a title="The CPA Journal - August 2010 page 17" href="http://viewer.zmags.com/publication/0fb1996c?page=17">Supreme Court Ruling on the PCAOB The Consti</a> <a title="The CPA Journal - August 2010 page 18" href="http://viewer.zmags.com/publication/0fb1996c?page=18">the majority opinion, joined by Justices Scalia, </a> <a title="The CPA Journal - August 2010 page 19" href="http://viewer.zmags.com/publication/0fb1996c?page=19"> In the dissenting opinion, Court of Appeals Ju</a> <a title="The CPA Journal - August 2010 page 20" href="http://viewer.zmags.com/publication/0fb1996c?page=20">“removal issue.” After providing his inter- preta</a> <a title="The CPA Journal - August 2010 page 21" href="http://viewer.zmags.com/publication/0fb1996c?page=21">protection. Referring to this as a “novel structu</a> <a title="The CPA Journal - August 2010 page 22" href="http://viewer.zmags.com/publication/0fb1996c?page=22">A CCOUNTING & AUDITING accounting </a> <a title="The CPA Journal - August 2010 page 23" href="http://viewer.zmags.com/publication/0fb1996c?page=23">the standard's impact on financial institu- tions</a> <a title="The CPA Journal - August 2010 page 24" href="http://viewer.zmags.com/publication/0fb1996c?page=24">■ There are few recent transactions. ■ Price </a> <a title="The CPA Journal - August 2010 page 25" href="http://viewer.zmags.com/publication/0fb1996c?page=25">MEASUREMENT AND ACCOUNTING FOR CREDIT LOSS UNDER F</a> <a title="The CPA Journal - August 2010 page 26" href="http://viewer.zmags.com/publication/0fb1996c?page=26"> </a> <a title="The CPA Journal - August 2010 page 27" href="http://viewer.zmags.com/publication/0fb1996c?page=27">should disclose the inputs and valuation tech- ni</a> <a title="The CPA Journal - August 2010 page 28" href="http://viewer.zmags.com/publication/0fb1996c?page=28"> </a> <a title="The CPA Journal - August 2010 page 29" href="http://viewer.zmags.com/publication/0fb1996c?page=29"> Determine presentation of OTTI. FSP FAS 115-2 </a> <a title="The CPA Journal - August 2010 page 30" href="http://viewer.zmags.com/publication/0fb1996c?page=30"> APPENDIX (CON</a> <a title="The CPA Journal - August 2010 page 31" href="http://viewer.zmags.com/publication/0fb1996c?page=31">■ New credit losses (i.e., additions for the am</a> <a title="The CPA Journal - August 2010 page 32" href="http://viewer.zmags.com/publication/0fb1996c?page=32">A CCOUNTING & AUDITING international accoun</a> <a title="The CPA Journal - August 2010 page 33" href="http://viewer.zmags.com/publication/0fb1996c?page=33">quality standards in use internationally in the r</a> <a title="The CPA Journal - August 2010 page 34" href="http://viewer.zmags.com/publication/0fb1996c?page=34">indicate that up to one-quarter of their accounti</a> <a title="The CPA Journal - August 2010 page 35" href="http://viewer.zmags.com/publication/0fb1996c?page=35">respondents commented, “The judgment required by </a> <a title="The CPA Journal - August 2010 page 36" href="http://viewer.zmags.com/publication/0fb1996c?page=36">pared for IFRS, their readiness is not as per- va</a> <a title="The CPA Journal - August 2010 page 37" href="http://viewer.zmags.com/publication/0fb1996c?page=37">paredness to deal with IFRS indicates an urgency </a> <a title="The CPA Journal - August 2010 page 38" href="http://viewer.zmags.com/publication/0fb1996c?page=38">A CCOUNTING & AUDITING accounting </a> <a title="The CPA Journal - August 2010 page 39" href="http://viewer.zmags.com/publication/0fb1996c?page=39">es rose to $1.26 trillion by 2007 (on an undiscou</a> <a title="The CPA Journal - August 2010 page 40" href="http://viewer.zmags.com/publication/0fb1996c?page=40">removed from Walgreens' selling, general, and adm</a> <a title="The CPA Journal - August 2010 page 41" href="http://viewer.zmags.com/publication/0fb1996c?page=41">research report from Jeffries & Co. is from Novem</a> <a title="The CPA Journal - August 2010 page 42" href="http://viewer.zmags.com/publication/0fb1996c?page=42">still be a year or two in the future, the two boa</a> <a title="The CPA Journal - August 2010 page 43" href="http://viewer.zmags.com/publication/0fb1996c?page=43">company's opposition to the right-of-use model on</a> <a title="The CPA Journal - August 2010 page 44" href="http://viewer.zmags.com/publication/0fb1996c?page=44">T AXATION federal taxation </a> <a title="The CPA Journal - August 2010 page 45" href="http://viewer.zmags.com/publication/0fb1996c?page=45">transactions reduce taxable income, they are remo</a> <a title="The CPA Journal - August 2010 page 46" href="http://viewer.zmags.com/publication/0fb1996c?page=46">losses for purposes of determining net cap- ital </a> <a title="The CPA Journal - August 2010 page 47" href="http://viewer.zmags.com/publication/0fb1996c?page=47">business and nonbusiness capital gains and losses</a> <a title="The CPA Journal - August 2010 page 48" href="http://viewer.zmags.com/publication/0fb1996c?page=48">■ If any capital losses have been carried forwa</a> <a title="The CPA Journal - August 2010 page 49" href="http://viewer.zmags.com/publication/0fb1996c?page=49">is provided for casualty losses of individu- als.</a> <a title="The CPA Journal - August 2010 page 50" href="http://viewer.zmags.com/publication/0fb1996c?page=50">ized deductions and the exemption deduc- al ap</a> <a title="The CPA Journal - August 2010 page 51" href="http://viewer.zmags.com/publication/0fb1996c?page=51">Alternative Minimum Tax Considerations If an </a> <a title="The CPA Journal - August 2010 page 52" href="http://viewer.zmags.com/publication/0fb1996c?page=52">T AXATION corporate taxation Is It </a> <a title="The CPA Journal - August 2010 page 53" href="http://viewer.zmags.com/publication/0fb1996c?page=53">jail time for certain misdemeanor and felony crim</a> <a title="The CPA Journal - August 2010 page 54" href="http://viewer.zmags.com/publication/0fb1996c?page=54">T AXATION federal taxation Lessons </a> <a title="The CPA Journal - August 2010 page 55" href="http://viewer.zmags.com/publication/0fb1996c?page=55">uals, address global warming concerns, and assist</a> <a title="The CPA Journal - August 2010 page 56" href="http://viewer.zmags.com/publication/0fb1996c?page=56">An ever-changing code presents a considerable obs</a> <a title="The CPA Journal - August 2010 page 57" href="http://viewer.zmags.com/publication/0fb1996c?page=57">after taxable income is determined. The “Tax Ince</a> <a title="The CPA Journal - August 2010 page 58" href="http://viewer.zmags.com/publication/0fb1996c?page=58">F INANCE personal financial planning </a> <a title="The CPA Journal - August 2010 page 59" href="http://viewer.zmags.com/publication/0fb1996c?page=59"> Annual rate of return, tax-exempts = ie Cumul</a> <a title="The CPA Journal - August 2010 page 60" href="http://viewer.zmags.com/publication/0fb1996c?page=60">M ANAGEMENT practice management </a> <a title="The CPA Journal - August 2010 page 61" href="http://viewer.zmags.com/publication/0fb1996c?page=61"> This article addresses recent trends and strat</a> <a title="The CPA Journal - August 2010 page 62" href="http://viewer.zmags.com/publication/0fb1996c?page=62">cial professionals group, for example, instan- ta</a> <a title="The CPA Journal - August 2010 page 63" href="http://viewer.zmags.com/publication/0fb1996c?page=63">professional services revenue. The follow- ing pr</a> <a title="The CPA Journal - August 2010 page 64" href="http://viewer.zmags.com/publication/0fb1996c?page=64">expertise in a specific area or industry. Compani</a> <a title="The CPA Journal - August 2010 page 65" href="http://viewer.zmags.com/publication/0fb1996c?page=65">R ESPONSIBILITIES & LEADERSHIP education </a> <a title="The CPA Journal - August 2010 page 66" href="http://viewer.zmags.com/publication/0fb1996c?page=66"> This article explains IFRS implementa- tion ba</a> <a title="The CPA Journal - August 2010 page 67" href="http://viewer.zmags.com/publication/0fb1996c?page=67">sitional) considerations that will drive IFRS ado</a> <a title="The CPA Journal - August 2010 page 68" href="http://viewer.zmags.com/publication/0fb1996c?page=68">versity level for such major changes. A slight ma</a> <a title="The CPA Journal - August 2010 page 69" href="http://viewer.zmags.com/publication/0fb1996c?page=69">where the professors and peers challenge the stud</a> <a title="The CPA Journal - August 2010 page 70" href="http://viewer.zmags.com/publication/0fb1996c?page=70">T ECHNOLOGY electronic reporting I</a> <a title="The CPA Journal - August 2010 page 71" href="http://viewer.zmags.com/publication/0fb1996c?page=71"> Besides being in compliance with the SEC manda</a> <a title="The CPA Journal - August 2010 page 72" href="http://viewer.zmags.com/publication/0fb1996c?page=72">ness software applications that maintain the sour</a> <a title="The CPA Journal - August 2010 page 73" href="http://viewer.zmags.com/publication/0fb1996c?page=73">services. Currently, there are no licensing or ce</a> <a title="The CPA Journal - August 2010 page 74" href="http://viewer.zmags.com/publication/0fb1996c?page=74">Accountancy, November 2009). A mutual understandi</a> <a title="The CPA Journal - August 2010 page 75" href="http://viewer.zmags.com/publication/0fb1996c?page=75">T ECHNOLOGY what to bookmark </a> <a title="The CPA Journal - August 2010 page 76" href="http://viewer.zmags.com/publication/0fb1996c?page=76">Classified PROFESSIONAL OPPORTUNITY l BUSINESS l </a> <a title="The CPA Journal - August 2010 page 77" href="http://viewer.zmags.com/publication/0fb1996c?page=77">CPA FIRMS OR PARTNERS We represent a number of qu</a> <a title="The CPA Journal - August 2010 page 78" href="http://viewer.zmags.com/publication/0fb1996c?page=78">Midtown CPA firm has large, furnished, windowed c</a> <a title="The CPA Journal - August 2010 page 79" href="http://viewer.zmags.com/publication/0fb1996c?page=79">LONG ISLAND CPA FIRM in Rockville Centre. Opportu</a> <a title="The CPA Journal - August 2010 page 80" href="http://viewer.zmags.com/publication/0fb1996c?page=80"> </a> <a title="The CPA Journal - August 2010 page 81" href="http://viewer.zmags.com/publication/0fb1996c?page=81">E CONOMIC & MARKET D ATA monthly updat</a> <a title="The CPA Journal - August 2010 page 82" href="http://viewer.zmags.com/publication/0fb1996c?page=82">E DITORIAL a message from the editor-in-chie</a> <a title="The CPA Journal - August 2010 page 83" href="http://viewer.zmags.com/publication/0fb1996c?page=83"></a> <a title="The CPA Journal - August 2010 page 84" href="http://viewer.zmags.com/publication/0fb1996c?page=84"></a>