state boards should add a new tenet to ethics and licensing rules.
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nathan garrett, a former president of the national association of state boards of accountancy, is calling on his beloved profession to make prejudice and racial discrimination a matter of the profession’s ethics code and licensing rules.
even as cpa firms shrink by 1,100.
the nation’s accounting and bookkeeping sector accounted for 2,000 of the 80,000 new jobs created in october, according to new preliminary and seasonally-adjusted data from the u.s. labor department.
for the nation, the jobs gain pushed the unemployment rate down to 9.0% from 9.1%.
for the accounting and bookkeeping sector, october’s performance represents a third straight month of gains and a year-to-year gain of 60,800 jobs, bringing the industry’s payroll to 932,200 employees.
faf rejects independent private-company rule-making panel: just “politics and turf?”
by john sharbaugh
texas society of cpas
a couple weeks ago, the financial accounting foundation issued a proposal to create a new private company standards improvement council responsible for determining whether exceptions to gaap should be allowed for private companies in appropriate situations. any recommendations from this new pcsic would have to be ratified by fasb before they would become effective.
corporate hiring plans go from dreary to dismal.
worried by economic crises and gridlocked political systems, about 53% of cfos surveyed by deloitte say they are losing faith in the economic outlook, a dramatic change from 32% in the previous quarter.
european regulators mull drastic action to reform audits.
while the big four have escaped public outrage in the u.s. for the global financial debacle, in europe they’re sharpening the guillotines.
beset by political pressures from failing banks and governments, eurozone regulators are airing a scheme to break up the big four into audit-only firms.
meanwhile, each of the big four has now reported its global revenues, showing a lag in audits and the developed world and a surge in consulting with rapid growth in emerging markets.
get the briefing paper on the “american jobs act.” with hopes of stimulating national job growth in the near future, president obama is urging congress to pass a $447 billion jobs package. but many tax practitioners just want to know: … continued
get the details in an instant download. via cch with president obama and congress reaching an agreement to raise the federal debt limit. along with spending cuts, sweeping changes to the tax code have been part of the negotiations. cch … continued
dipping a toe into charged political waters…
uhy, the top 100 cpa firm, says their own research shows the united states has one of the lowest tax burdens for both high and low earners among the g8 countries.
from visualizing economics, we see this spectacular depiction of the top marginal tax rates in the u.s., from 1916-2010, for personal income, corporate, and capital gains tax rates:
you’re right.
the middle-class has been picking up more of the tab for federal spending since the late 1980’s, and the rich have been paying progressively less. above-average burdens, for instance, appear thick and red and below-average thin and blue.
in september, only 17% of accountants predicted a tougher season than last year’s. by december, the number had risen to 28%. q: for you personally, how do you expect busy season 2011 to compare to the 2010 season? accountants looking … continued
david bergstein, director of u.s. strategic relationships for cch, tells accountants to brace for new irs initiatives. but first, all eyes are on congress. [youtube]d_dzxxfeb9o[/youtube] when will new irs forms be ready? that’s the million-dollar question. “exciting,” says bergstein. how … continued
federal and state, professors, and practitioners.
there’s something for everybody in this list — one of the best we’ve seen — of blogs for tax geeks and wonks. this list includes four kinds of tax blogs: tax policy blogs by american professors, “think tank” tax policy blogs, state and local tax policy blogs, helping american taxpayers make sense of policy. did we miss one? tell us in comments. read more →
