Notice implements court of appeal decision involving qualified small business stock gain exclusion/deferral Deloitte's Tax Matters newsletter (Issue 2013-02) reports that on September 10, 2012, a Tax Alert was issued summarizing the California Court of Appeal’s decision in Cutler v. Franchise Tax Board (“Cutler”) involving the exclusion or deferral of qualified small business stock gain.  More: ...

Solid revenue growth last year following strong performance in 2010 and 2011 after a severe revenue decline in 2009 Michael Cohn at Accounting Today reports this growth according to a newly published analysis.  The report, from the social networking forum Big4.com, analyzed the 2012 financial performance of Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers. It found that after a strong 2011, fisc ...

The Method You Choose Depends On the Data You Have Application of discounts and premiums is one area where valuators demonstrate added value. Paul R. Hyde shows how and when to choose the most appropriate analytical method. ...

The Weighted Average Method of Estimating Expected Future Earnings is Based on the Average or Arithmetic Mean. Here’s Why that’s Important. Companies that are growing in revenue need to be valued regularly, and they need to be valued with their future growth in mind. The weighted average approach is a valuable tool. But Richard Claywell suggests caution in using it to extrapolate large projections of future ...

There’s Lots We Know about Private Capital. There are Things We Don’t Know, too—and Need to Be Aware of. Robert T. Slee explains in this excerpt several key macro insights—and related themes—that his recent book Private Capital Markets is based on.  The macro insights are that corporate finance theory doesn’t predict behavior in private capital markets, and valuation, capitalization, and transfer are not di ...

Consider Lifetime Client Value, Cost of Client Acquisition, and Retention Rate Is your CPA firm making the most of current relationships and doing all it can to expand into new ones?   While there are many metrics CPA firms use to evaluate quantitative performance, AICPA Insights suggests 12 metrics than can provide more qualitative feedback. These metrics can help CPA firms measure their reach with clients ...

U.S.-Based Multinationals Reporting Under IFRS Struggle With Classification of Equities, Liabilities The International Accounting Standards Board agreed with respondents from its public consultation (a study that reached out to industry professionals at all levels in more than 80 countries in 2011) that it needs to better clarify definitions of assets and liabilities for debt instruments, CFO.com reports. T ...

An Interview with Jeremy Levine, a Partner at Bessemer Venture Partners As the new year begins, the Wall Street Journal's Venture Capital Dispatch — which focuses largely on high-tech start-ups and their investors — has asked several venture capital investors to reflect on the past year and give us their outlook for 2013.  Recently, it spoke with Jeremy Levine, a partner at Bessemer Venture Partners. Levine ...

IFRS Foundation Trustee: Don’t Wave White Flag on Cooperation Global accounting standard setters acknowledge that completion of the convergence projects is unlikely to happen in the near term, but progress can still be made to closely align International Financial Reporting Standards and U.S. GAAP, the Journal of Accountancy reports.   Here's more: ...

A Dozen Categories.  Some Categories Alone Encompassing Up to 20 New Taxes.  Here's the Detail.  The American Taxpayer Relief Act, passed by Congress on Jan. 1, permanently extends a large number of tax items from the 2001 and 2003 tax acts and extends many expired tax provisions. Here is a comprehensive look at the many changes contained in the bill, as well as other new taxes that took effect Jan. 1. Paul ...

Extra Help for Puerto Rican Rum, Asparagus Farmers,  Hollywood TV Production, 2-3 Wheeled Electric Vehicles, and Diesel Fuel Joe Weisenthal at Business Insider  gives us the lowdown:  ...

Intent:  Not to Constrain Economic Growth Which Could Lead to Future Revenues David Lawder and Kim Dixon report that The Congressional Budget Office on Tuesday said Senate-passed legislation to avert the "fiscal cliff" would add nearly $4 trillion to federal deficits over a decade, largely because it would extend low tax rates for almost all Americans. ...

Economic Recovery, Intensified Competition, Squeezed Profit Margins, Upward Pressure on Salaries, Downward Pressure on Rates, and a Rush to the Cloud   Rick Telberg counts up the list of the top 20 most-clicked articles at CPA Trendlines provides a roadmap to the profession’s anxieties, aspirations and, just maybe, a glimpse into what 2013 holds: ...

There's good news and bad news.  Here's the low-down.   Dean Zerbe offers his take at Forbes on how the current deal will affect small-business owners: ...

Ambitious plans to overhaul the individual tax code, tackle corporate rates, revamp the Medicare program and consider changes in Social Security appear to have given way mainly to a tax increases for big earners Jennifer Steinhauer of the New York Times reports that "doing business in pieces" seems to be :the nature of what constitutes progress in such a sharply divided political world."  More: ...