New lease accounting standards come into force at the start of next year which will fundamentally change how companies can report off-balance sheet financing.  How will the new rules affect finance leaders? To read the full article in Accountancy Age, click: Lease Accounting Standards: Are Multinationals Sitting on a “Leaseberg” of Huge Proportions? ...

Many long-term investors have amassed substantial capital gains since the market bottomed out in March 2009.  While great-looking on paper, such gains have real tax implications for engaging in even routine investment adjustments. To read the full article in FinancialPlanning, click: Kitces: Three Strategies for Managing Big Capital Gains. ...

Lack of communication and trust has depleted 60 percent of family fortunes, according to a recent white paper from BNY Mellon's Pershing entitled "Parent Trap: Avoiding Common Multigenerational Wealth Planning Pitfalls."  On the other hand, poor financial planning accounts for three percent of bankrupted family wealth. To read the full article in Financial Advisor, click: Lack of Communication Killing Famil ...

Reliability of Client’s Data This article discusses how experts can handle the unique situation of receiving unreliable data. Litigation and appraisal literature will be reviewed as will the author’s handling of unreliable data in a recent lost profits case. In the end, warning signs will be reviewed to alert the expert to potential problems with the projected data. ...

Case Study on the Use of Visuals to Track Revenue, Expenses, and Process What is CCO? How is it used? The CCO technique has no traceable origin, but its application is self-evident and imminently practical. The technique is typified by its initialism, i.e., CCO that self-describes the process: what is the condition underlying the problem(s), what is the cause of the underlying problem(s), and what is the ou ...

Global companies have long expected talent from all over the world to work together, whether remotely or in the same location.  McKinsey research has shown that a diverse workforce is in the best interest of businesses.  The varied approaches workers with different characteristics and backgrounds bring to creativity, problem-solving, and leadership drive innovation and growth more effectively. To read the f ...

Clients can use tax-free, non-alternative minimum tax municipal bonds to create a source of tax-free income, an advisor on CNBC writes.  While long-term investors will be better off building a portfolio of equities and bonds than having a 100% bond portfolio, muni bonds are a good alternative to annuities and other fixed-income vehicles, according to the expert.  Clients who invest in annuities will incur t ...

Influential figures such as Hollywood powerbroker Harvey Weinstein and casino mogul Steve Wynn have had their careers ended amid allegations of sexual misconduct.  And several members of the House of Representatives have resigned in recent months over accusations that they too had engaged in misconduct.  Wealth management is not immune from these problems. To read the full article in FinancialPlanning, clic ...

For “Intentionally Defective” Grantor Trusts (Part II of II) In this second and final part of this article, the author provides illustrations that showcase pitfalls to avoid when the power of substitution is exercised. Read Part I here. ...

Top 5 Business Challenges The author discusses the top five business challenges identified by professional accounting and financial services firms, and proposes ways professionals can readily address those issues. ...

Leading futurist and keynote speaker Ross Dawson, who regularly consults to accounting, finance, and banking bodies, spoke with Chris Sheedy about the single greatest opportunity that the future holds for accountants. To read the full article in ICAS, click: How We Will Learn to Love Big Data in 2018. ...

In completing the comprehensive project to change the conceptual framework, the International Accounting Standards Board (IASB) confirmed the objective of IFRS financial reporting as providing financial information that is useful to investors and others when deciding whether to provide resources to a company. To read the full article in the Journal of Accountancy, click: New IFRS Conceptual Framework Revise ...

The owner of a retirement planning firm cheated dozens of investors out of $3.8 million in two related scams that included a Ponzi scheme and fraudulent stock offerings targeting elderly retirees, the SEC says. To read the full article in FinancialPlanning, click: $3.8M Ponzi Scheme Funded Spa Treatment, Maids, Church Tithes: SEC. ...

Tips for Marketing Your Skills and Services Whether you are just starting your career, considering going out on your own, or expanding your business, there are three steps that will make your journey easier: conduct a self-assessment, develop a business plan, and design a marketing strategy. Sounds simple enough, but most businesses fail within the first year simply because people skip one or more of these ...

For “Intentionally Defective” Grantor Trusts (Part I of II) The power of substitution is held by the settlor of a grantor trust if this power is provided by the trust instrument. This power allows the settlor, at any time, to remove an asset or assets from the grantor trust in exchange for an asset or assets of equivalent value. Such a transfer can be problematic and vulnerable to challenge if the equivalen ...

The Consolidated Appropriations Act, 2018, H.R. 1625, which is the $1.3 trillion spending bill that Congress passed, contains a few tax-related provisions, including funding for the IRS and technical corrections to various recent pieces of tax legislation.  It also amends the centralized partnership audit regime and changes the Sec. 199A deduction for farmers who sell grain to agricultural cooperatives. To ...

The demand for housing has been outpacing supply since early 2015, according to the National Association of Realtors, putting upward pressure on home prices and creating affordability challenges for potential homebuyers already badgered by tight inventory.  However, consumer conditions vary geographically, meaning some states provide less stressful home-buying environments than others. To read the full arti ...

Despite several projections about the future strength of digital advice, executives took to social media to express doubts that wealth management disruptors would remain standing—undone instead by private equity investor demands, tepid growth and evolved competition. To read the full article in FinancialPlanning, click: What Wealthfront’s Reported Valuation Drop Means for Indie Robo Advisors. ...

In Measuring Trustee Breach of Fiduciary Duty Damages (Part II of II) The second part of this article focuses on the methodologies employed to quantify the economic damages when a fiduciary breach is claimed. ...

Healthcare Regulatory Environment (Part III of VI) In the March/April 2018 issue of The Value Examiner, the author underscores the importance of undertaking rigorous due diligence to better understand the regulatory burdens and operational risks notwithstanding efforts to repeal and replace. ...