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<br /> www.cpaj.com January 2013<br /> Enhanced Protections for<br /> Whistleblowers under<br /> the Dodd-Frank Act<br /> Plus  Lease Accounting  State R&D Credits  Islamic Banking<br /> <br /> FAE 2013 CPE<br /> foundation for accounting<br /> FAE<br /> education<br /> Individual FAE VP Pricing<br /> Early Bird Pricing<br /> Extended through January 11, 2013<br /> Regular Pricing<br /> (January 12, 2013–December 31, 2013)<br /> Individual FAE VP24 $ 795 $ 820<br /> Individual FAE VP40 $1,245 $1,295<br /> Firm/Company FAE VP Pricing<br /> Early Bird Pricing<br /> Extended through January 11, 2013<br /> Regular Pricing<br /> (January 12, 2013–December 31, 2013)<br /> Firm/Company FAE VP40 $1,695 $1,745<br /> Firm/Company FAE VP80 $3,095 $3,195<br /> rti<br /> A<br /> It's Here….<br /> FAE's NEW Value Pass Program<br /> (Formerly Known as Pay-One-Price or POP)<br /> The all-new FAE Value Pass (FAE VP) giv<a title="The CPA Journal - January 2013 page 1" href="http://viewer.zmags.com/publication/90ae88f8?page=1"> www.cpaj.com January 2013 Enhanced Protec</a> <a title="The CPA Journal - January 2013 page 2" href="http://viewer.zmags.com/publication/90ae88f8?page=2"> </a> <a title="The CPA Journal - January 2013 page 3" href="http://viewer.zmags.com/publication/90ae88f8?page=3"> FAE 2013 CPE foundation for accounting FAE ed</a> <a title="The CPA Journal - January 2013 page 4" href="http://viewer.zmags.com/publication/90ae88f8?page=4"> CONTENTS january 2013 6PERSPECTIVES 16ESSE</a> <a title="The CPA Journal - January 2013 page 5" href="http://viewer.zmags.com/publication/90ae88f8?page=5"> vol. LXXXIII/no. 1 56ESSENTIALS 66ESSENTI</a> <a title="The CPA Journal - January 2013 page 6" href="http://viewer.zmags.com/publication/90ae88f8?page=6"> new york state society of NYSSCPA certif</a> <a title="The CPA Journal - January 2013 page 7" href="http://viewer.zmags.com/publication/90ae88f8?page=7"> FAE 2013 CPE foundation for accounting FAE ed</a> <a title="The CPA Journal - January 2013 page 8" href="http://viewer.zmags.com/publication/90ae88f8?page=8"> PERSPECTIVES viewpoint Growing a Family Bus</a> <a title="The CPA Journal - January 2013 page 9" href="http://viewer.zmags.com/publication/90ae88f8?page=9"> publisher's column CPA Firm Ownership: </a> <a title="The CPA Journal - January 2013 page 10" href="http://viewer.zmags.com/publication/90ae88f8?page=10"> (Continued from page 6) wants you until someone e</a> <a title="The CPA Journal - January 2013 page 11" href="http://viewer.zmags.com/publication/90ae88f8?page=11"> over my life. I've read philosophy … I do believe</a> <a title="The CPA Journal - January 2013 page 12" href="http://viewer.zmags.com/publication/90ae88f8?page=12"> THE CPA JOURNAL INTERVIEW WITH RICK HARRISON Th</a> <a title="The CPA Journal - January 2013 page 13" href="http://viewer.zmags.com/publication/90ae88f8?page=13"> future of the profession Hiring Academi</a> <a title="The CPA Journal - January 2013 page 14" href="http://viewer.zmags.com/publication/90ae88f8?page=14"> tude that will fit with the firm's culture. In ad</a> <a title="The CPA Journal - January 2013 page 15" href="http://viewer.zmags.com/publication/90ae88f8?page=15"> Embracing Technology in Education Considering Opt</a> <a title="The CPA Journal - January 2013 page 16" href="http://viewer.zmags.com/publication/90ae88f8?page=16"> or a lack of graduates' success on the CPA exam; </a> <a title="The CPA Journal - January 2013 page 17" href="http://viewer.zmags.com/publication/90ae88f8?page=17"> Maximizing Revenue Opportunities with CRM S</a> <a title="The CPA Journal - January 2013 page 18" href="http://viewer.zmags.com/publication/90ae88f8?page=18"> ACCOUNTING & AUDITING standards setting</a> <a title="The CPA Journal - January 2013 page 19" href="http://viewer.zmags.com/publication/90ae88f8?page=19"> and service contracts will change). The ROU model</a> <a title="The CPA Journal - January 2013 page 20" href="http://viewer.zmags.com/publication/90ae88f8?page=20"> lease. For real estate leases, the lessor will mo</a> <a title="The CPA Journal - January 2013 page 21" href="http://viewer.zmags.com/publication/90ae88f8?page=21"> the R&R approach for all leases to one lessee of </a> <a title="The CPA Journal - January 2013 page 22" href="http://viewer.zmags.com/publication/90ae88f8?page=22"> AN EXAMPLE OF R&R EQUIPMENT LEASE ACCOUNTING BY T</a> <a title="The CPA Journal - January 2013 page 23" href="http://viewer.zmags.com/publication/90ae88f8?page=23"> al and is deferred and not recognized in income u</a> <a title="The CPA Journal - January 2013 page 24" href="http://viewer.zmags.com/publication/90ae88f8?page=24"> AN EXAMPLE OF R&R EQUIPMENT LEASE ACCOUNTING BY T</a> <a title="The CPA Journal - January 2013 page 25" href="http://viewer.zmags.com/publication/90ae88f8?page=25"> It is more likely for the guarantee to be in- the</a> <a title="The CPA Journal - January 2013 page 26" href="http://viewer.zmags.com/publication/90ae88f8?page=26"> AN EXAMPLE OF LEASE ACCOUNTING BY THE LESSEE </a> <a title="The CPA Journal - January 2013 page 27" href="http://viewer.zmags.com/publication/90ae88f8?page=27"> Comparison of Results under Old and New Accountin</a> <a title="The CPA Journal - January 2013 page 28" href="http://viewer.zmags.com/publication/90ae88f8?page=28"> AN EXAMPLE OF LEASE ACCOUNTING BY THE LESSEE (C</a> <a title="The CPA Journal - January 2013 page 29" href="http://viewer.zmags.com/publication/90ae88f8?page=29"> value of the remaining rents using the current in</a> <a title="The CPA Journal - January 2013 page 30" href="http://viewer.zmags.com/publication/90ae88f8?page=30"> ACCOUNTING & AUDITING auditing </a> <a title="The CPA Journal - January 2013 page 31" href="http://viewer.zmags.com/publication/90ae88f8?page=31"> In the United States, the Public Company A</a> <a title="The CPA Journal - January 2013 page 32" href="http://viewer.zmags.com/publication/90ae88f8?page=32"> the Field,” Accounting Review, vol. 85, no. 4, 20</a> <a title="The CPA Journal - January 2013 page 33" href="http://viewer.zmags.com/publication/90ae88f8?page=33"> tion of mandatory firm rotation will likely negat</a> <a title="The CPA Journal - January 2013 page 34" href="http://viewer.zmags.com/publication/90ae88f8?page=34"> on the Effects of Audit Firm Rotation on tion</a> <a title="The CPA Journal - January 2013 page 35" href="http://viewer.zmags.com/publication/90ae88f8?page=35"> (supplement), 2003, pp. 1–16; Gopal V. Krishnan, </a> <a title="The CPA Journal - January 2013 page 36" href="http://viewer.zmags.com/publication/90ae88f8?page=36"> ACCOUNTING & AUDITING accounting </a> <a title="The CPA Journal - January 2013 page 37" href="http://viewer.zmags.com/publication/90ae88f8?page=37"> ing entry is necessary; if the DMV is less than c</a> <a title="The CPA Journal - January 2013 page 38" href="http://viewer.zmags.com/publication/90ae88f8?page=38"> down on inventory. At first glance, the decision </a> <a title="The CPA Journal - January 2013 page 39" href="http://viewer.zmags.com/publication/90ae88f8?page=39"> approach results in an $800 higher net income (di</a> <a title="The CPA Journal - January 2013 page 40" href="http://viewer.zmags.com/publication/90ae88f8?page=40"> Allowance to Reduce Inventory to Market Va</a> <a title="The CPA Journal - January 2013 page 41" href="http://viewer.zmags.com/publication/90ae88f8?page=41"> Although not demonstrated here, the same outcom</a> <a title="The CPA Journal - January 2013 page 42" href="http://viewer.zmags.com/publication/90ae88f8?page=42"> TAXATION tax incentives </a> <a title="The CPA Journal - January 2013 page 43" href="http://viewer.zmags.com/publication/90ae88f8?page=43"> Furthermore, the ensuing discussion reviews var</a> <a title="The CPA Journal - January 2013 page 44" href="http://viewer.zmags.com/publication/90ae88f8?page=44"> EXHI</a> <a title="The CPA Journal - January 2013 page 45" href="http://viewer.zmags.com/publication/90ae88f8?page=45"> al amount of the credit is the lesser of— ■ 10%</a> <a title="The CPA Journal - January 2013 page 46" href="http://viewer.zmags.com/publication/90ae88f8?page=46"> EXHIBIT 1 (Continued from </a> <a title="The CPA Journal - January 2013 page 47" href="http://viewer.zmags.com/publication/90ae88f8?page=47"> conducted in the state; such expenses include in-</a> <a title="The CPA Journal - January 2013 page 48" href="http://viewer.zmags.com/publication/90ae88f8?page=48"> EXHIBIT 1 (Continued from </a> <a title="The CPA Journal - January 2013 page 49" href="http://viewer.zmags.com/publication/90ae88f8?page=49"> ified expenses, not to exceed the Maryland base a</a> <a title="The CPA Journal - January 2013 page 50" href="http://viewer.zmags.com/publication/90ae88f8?page=50"> EXHIBIT 1 (Continued from </a> <a title="The CPA Journal - January 2013 page 51" href="http://viewer.zmags.com/publication/90ae88f8?page=51"> during the base period (1984-1988) and mul- tiply</a> <a title="The CPA Journal - January 2013 page 52" href="http://viewer.zmags.com/publication/90ae88f8?page=52"> years, assuming that all of 3M's R&D was performe</a> <a title="The CPA Journal - January 2013 page 53" href="http://viewer.zmags.com/publication/90ae88f8?page=53"> </a> <a title="The CPA Journal - January 2013 page 54" href="http://viewer.zmags.com/publication/90ae88f8?page=54"> TAXATION corporate taxation Distinguishin</a> <a title="The CPA Journal - January 2013 page 55" href="http://viewer.zmags.com/publication/90ae88f8?page=55"> a matter of fact, relying upon the judicia- ry ju</a> <a title="The CPA Journal - January 2013 page 56" href="http://viewer.zmags.com/publication/90ae88f8?page=56"> efficient administration, and 3) develop- ment an</a> <a title="The CPA Journal - January 2013 page 57" href="http://viewer.zmags.com/publication/90ae88f8?page=57"> acterized these transfers as loans, but at the ti</a> <a title="The CPA Journal - January 2013 page 58" href="http://viewer.zmags.com/publication/90ae88f8?page=58"> FINANCE banking </a> <a title="The CPA Journal - January 2013 page 59" href="http://viewer.zmags.com/publication/90ae88f8?page=59"> pinpointed Malaysia as one of its key growth mark</a> <a title="The CPA Journal - January 2013 page 60" href="http://viewer.zmags.com/publication/90ae88f8?page=60"> for client deposits. One option is a wakala agree</a> <a title="The CPA Journal - January 2013 page 61" href="http://viewer.zmags.com/publication/90ae88f8?page=61"> available, including several that deal with the r</a> <a title="The CPA Journal - January 2013 page 62" href="http://viewer.zmags.com/publication/90ae88f8?page=62"> MANAGEMENT practice management Short-T</a> <a title="The CPA Journal - January 2013 page 63" href="http://viewer.zmags.com/publication/90ae88f8?page=63"> standards board under the FAF's oversight that wo</a> <a title="The CPA Journal - January 2013 page 64" href="http://viewer.zmags.com/publication/90ae88f8?page=64"> a major impact on training in the next three year</a> <a title="The CPA Journal - January 2013 page 65" href="http://viewer.zmags.com/publication/90ae88f8?page=65"> MANAGEMENT future of the profession Suc</a> <a title="The CPA Journal - January 2013 page 66" href="http://viewer.zmags.com/publication/90ae88f8?page=66"> dents). The fact that women receive less help wit</a> <a title="The CPA Journal - January 2013 page 67" href="http://viewer.zmags.com/publication/90ae88f8?page=67"> Compliance to Performance,” Journal for Quality a</a> <a title="The CPA Journal - January 2013 page 68" href="http://viewer.zmags.com/publication/90ae88f8?page=68"> RESPONSIBILITIES & LEADERSHIP fraud </a> <a title="The CPA Journal - January 2013 page 69" href="http://viewer.zmags.com/publication/90ae88f8?page=69"> current economic crisis—that defrauded countless </a> <a title="The CPA Journal - January 2013 page 70" href="http://viewer.zmags.com/publication/90ae88f8?page=70"> Rights With few exclusions or qualifications, </a> <a title="The CPA Journal - January 2013 page 71" href="http://viewer.zmags.com/publication/90ae88f8?page=71"> the audit firm followed the requirements of </a> <a title="The CPA Journal - January 2013 page 72" href="http://viewer.zmags.com/publication/90ae88f8?page=72"> ■ the whistleblower has a reasonable basis to b</a> <a title="The CPA Journal - January 2013 page 73" href="http://viewer.zmags.com/publication/90ae88f8?page=73"> client confidentiality rules and losing their sta</a> <a title="The CPA Journal - January 2013 page 74" href="http://viewer.zmags.com/publication/90ae88f8?page=74"> TECHNOLOGY what to bookmark Website of t</a> <a title="The CPA Journal - January 2013 page 75" href="http://viewer.zmags.com/publication/90ae88f8?page=75"> Risk: External Challenges for CEOs” is a series t</a> <a title="The CPA Journal - January 2013 page 76" href="http://viewer.zmags.com/publication/90ae88f8?page=76"> CLASSIFIEDMARKETPLACE PROFESSIONAL OPPORTUNITY l </a> <a title="The CPA Journal - January 2013 page 77" href="http://viewer.zmags.com/publication/90ae88f8?page=77"> Peer Review If you need help, the</a> <a title="The CPA Journal - January 2013 page 78" href="http://viewer.zmags.com/publication/90ae88f8?page=78"> PEER REVIEW SERVICES PEER REVIEW SPECIALIZING </a> <a title="The CPA Journal - January 2013 page 79" href="http://viewer.zmags.com/publication/90ae88f8?page=79"> TAX CONSULTANCY INNOVATIVE STRATEGIES for sales </a> <a title="The CPA Journal - January 2013 page 80" href="http://viewer.zmags.com/publication/90ae88f8?page=80"> </a> <a title="The CPA Journal - January 2013 page 81" href="http://viewer.zmags.com/publication/90ae88f8?page=81"> ECONOMIC & MARKET DATA monthly upd</a> <a title="The CPA Journal - January 2013 page 82" href="http://viewer.zmags.com/publication/90ae88f8?page=82"> EDITORIAL a message from the editor-in-c</a> <a title="The CPA Journal - January 2013 page 83" href="http://viewer.zmags.com/publication/90ae88f8?page=83"> </a> <a title="The CPA Journal - January 2013 page 84" href="http://viewer.zmags.com/publication/90ae88f8?page=84"> </a>