Personal commitment and synchronized teamwork is what it takes to be an active member of professional associations.  The work may not be physically challenging, but when you partner together and work towards a similar goal, you can achieve great things. To read the full article in CPA Practice Advisor, click: Five Reasons You Should Join a Professional Association. ...

Effective Exercises for Diversity Training Evidence suggests diversity training that asks employees to see the world from others' perspectives or to form specific goals is especially effective.  The personalities of employees might affect which techniques provide the best results for them. To read the full article in Harvard Business Review, click: Two Types of Diversity Training that Really Work. ...

Should You? In this article, Dr. Frederiksen discusses why firms are outsourcing and answers five questions regarding when it makes sense to outsource this service. ...

Cash Receipts (Part I of III) This article represents the first of a three-part series discussing the potential for embezzlement within an organization by its accountant/bookkeeper/office manager (ABOM). ABOM is considered one of the most trusted employees within an organization, making them prime candidates to commit internal fraud. On a daily basis, an ABOM may be dealing with incoming cash receipts, cash ...

Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.  Treasury says it is notifying participants about the ending of the program and giving them information on how to move their myRA savings into Roth IRAs. To read the full article in The Tax Adviser, click: Treasury Ends myRA Retirement Savings Program. ...

Legitimate customers and transactions are being hit hard by a system designed to stem the flow of dirty money.  Many international banks have pulled in their horns since the global financial crisis, lending less and shedding customers. To read the full article in The Economist, click: The Unintended Effects of Rules Aimed at Stopping Financial Crimes. ...

Beware of conflicts and gossip, which can damage your career.  Office gossip and drama can lead to professional discord, reduced productivity, lower morale, and a breakdown of teamwork, collaboration, and good customer service.  Cheryl Meyer explains the pitfalls of this potentially disastrous practice. To read the full article in AICPA, click: How to Steer Clear of Office Drama. ...

Practical Applications in Unimpeachable Neutrality Expert witnesses in the fields of forensic accounting, matrimonial litigation, and business valuation must possess a thorough understanding of the applicable standards, case law, evidentiary rules, and regulations specific to each engagement to effectively help the court understand the facts and evidence. The already daunting task of interpreting these rule ...

Which Measure is Best for Normalization? Analysts face a potentially major issue when using EBT as the starting point for normalizing future earnings using traditional business valuation fundamentals. An issue arises when assumptions used in forecasting key expenses for normalized earnings differ from the way those expenses were calculated in the historical EBT. Key expenses that can have a large impact on ...

The future of the fiduciary rule is up for grabs, again, and clients, advisers, and firms are jumping in to make their voices heard at a crucial moment.  Via a public commentary board, the Department of Labor is hearing feedback on whether it should make changes to the fiduciary rule and delay the regulation's second stage of implementation.  Scroll through to see some of the most passionate and insightful ...

Understanding the fractions rule can enable tax-exempt organizations to invest in partnerships that hold interests in debt-financed real property without being subject to the tax on unrelated business income under Section 512.  Michael Hoffman, CPA, Washington, explains. To read the full article in The Tax Advisor, click: What Proposed Regulations on the Fractions Rule Mean for Tax-Exempt Organizations. ...

Questions for a Retirement-Preparedness Gut Check Pre-retirees should examine whether they direct too much money to goals other than retirement savings, take advantage of employer matching, and structure savings so enough pretax income is set aside.  Jonathan Clements states that other important considerations include how retirees will spend time once they stop working and whether there is a danger of outli ...

A Unique Assessment of Commercial Damages Business interruption is a form of commercial damages that may include both breach of contract and torts. While it is not common for financial experts to be hired in business interruption situations, some claims require their expertise. Unlike a traditional lost profit analysis, business interruption calculations are unique. Any expert asked to make such an analysis ...

When Calculating the Exemplary Damages Cap In a recent Texas Court of Appeals case, the jury awarded plaintiff $15,000,000 in exemplary damages; the Court reduced this amount citing section 41.008(b)(1) of the Texas Civil Practice & Remedies Code, which caps exemplary damages at two times the amount of "economic damages," plus up to $750,000 in non-economic damages.  The question on appeal was whether t ...

In Mercer Capital’s most recent issue of Portfolio Valuation: Private Equity and Venture Capital Marks and Trends, they provide a brief digest and commentary of some of the most relevant market trends influencing the fair value of private equity and venture capital portfolio investments.  Key highlights are covered in their Third Quarter 2017 newsletter. To read the full article in Mercer Capital's Financia ...

The FASB is conducting early stage research about developing an accounting standard for digital currency and the technology that underpins it.  With the use of digital currency increasing, proponents say inconsistent accounting practices are becoming a problem. To read the full article in Thomson Reuters, click: Bitcoin Seeks Recognition from U.S. GAAP. ...

CFOs are eager to make the finance function more efficient and useful.  Samantha White, CGMA Magazine senior editor, explains what leading finance functions have in common. To read the full article in CGMA Magazine, click: Six Traits of Leading Finance Functions. ...

in Light of LIBOR’s End Appraisal and litigation support professionals consider various rates to use as part of a financial model, including LIBOR. Near the end of July 2017, British banking regulators made waves in the business world by announcing the end of the London Interbank Offered Rate, or LIBOR, by the end of 2021. LIBOR’s end will mean the loss of a financial benchmark that is not only ubiquitous i ...

Understanding Another Person’s Point of View—A Fundamental Tool of Communication Empathy, when used appropriately is truly amazing. It strengthens and enriches our understanding of others, and enhances our ability to motivate them. Though there is no scientific way to measure the power of empathy, you can feel it when you use it, especially during mediation-type proceedings, when the opposing parties are fr ...

It is difficult to deliver bad news or discuss mistakes, but honesty plays an important part in the development of a workplace that is effective and productive.  Eddie Huffman states that, hard truths, delivered well, are necessary for health and growth. To read the full article in CPA Insider, click: How to Encourage Candor in Your Office. ...