Proposal Seeks Consistency in CPE Credit Increments The AICPA and the National Association of State Boards of Accountancy issued an amended proposal to create consistency in the increments of continuing professional education credits that CPAs can earn through various methods of instruction.  Interested parties are encouraged to comment on the exposure draft by April 30.  Ken Tysiac, JofA editorial director ...

The National Association of Certified Valuators and Analysts™ (NACVA®) celebrates 25 years of service to the accounting and consulting profession in 2016. NACVA’s Silver Anniversary conference, co-sponsored with the Consultants’ Training Institute™ (CTI™), is themed, Strong Foundations Build Bright Futures, and will be held June 8–11, 2016 at the iconic Hotel del Coronado in San Diego, CA. Steve Forbes, Cha ...

Qualified Business Appraiser and Appraisal Needed A November 2015 memorandum by the U.S. Tax Court in Fleming Cardiovascular, P.A. v. Commissioner found that the Internal Revenue Services ("IRS") did not abuse its discretion in revoking the Fleming Cardiovascular, P.A. Employee Stock Ownership Plan's ("ESOP") qualified and tax exempt status for failure to operate in accordance with plan documents. Of note, ...

Q&A Guide for Valuation Practitioners James Hitchner, Dr. Shannon Pratt, and Jay Fishman are co-authors of a publication that uses a Q&A approach to address important questions. The article includes excerpts from this book. ...

Last spring we observed that 2015 would likely mark a turning point in portfolio valuations.  With Q4 earnings season beginning, we take an opportunity to check in on portfolio marks and market sentiment over the year.  Travis W. Harms, Mercer Capital’s Financial Reporting Valuation Group lead, explains the key takeaway from the year. To read the full article in Mercer Capital's Financial Reporting Blog, cl ...

A slump in U.S. corporate profit is the biggest concern expressed by financial professionals responding to a State Street Global Advisors survey.  James Green, group editorial director Investment Advisor Group, examines if rising stock market volatility is close behind. To read the full article in ThinkAdvisor, click: Advisors Overweight Technology, Financials Amid Earnings Concerns: SSGA. ...

Regulations Clarify Arm's-Length Standard for Transfer-Pricing Rules The temporary regulations provide that the arm's-length standard of Sec. 482 applies to all controlled transactions without regard to the form or character of the transactions, and they are particularly concerned with tax-favored transfers of assets outside the U.S.  Jay L. Camillo, M.A. (international relations), Atlanta, and Kenneth P. C ...

CEOs Wary of Regulation and Geopolitical Instability Over-regulation and geopolitical instability are contributing to a sharp decline in confidence in global economic performance, according to a report by PwC.  Samantha White, senior editor for CGMA Magazine, looks into this issue. To read the full article in CGMA Magazine, click: Regulation and Geopolitical Instability Key Concerns for CEOs in 2016. ...

Companies Look to Track Data About Employee Health Some companies are moving to track employee health data, which is linked to business performance.  Aimee Picchi looks at how tracking and disclosing this type of data could make workers uneasy and perhaps lead to discrimination, critics say. To read the full article in CBS Moneywatch, click: The Growing Movement to Track Employee Health. ...

The IRS announced that it is withdrawing proposed regulations released last September that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations (REG-138344-13).  Charities that elected to use the new procedure would have been required to obtain donors’ Social Security or other tax identification ...

Should Pension Participants Take the Lump-Sum Option? Traditional pensions are increasingly offering participants a lump-sum payment in lieu of monthly payments over the rest of their lives.  This option makes sense in some cases, but a monthly payment can reduce the chances of running out of money in retirement.  Ann Carrns explains how, unfortunately, not all employees are able to make informed decisions. ...

Last week, Lands’ End, Inc. announced it would write down the value of its flagship trade name asset.  Management’s preliminary guidance could lower the asset’s value by 20%.  Lucas M. Parris, senior member of Mercer Capital’s Financial Reporting Valuation Group, explores that obviously, a non-cash impairment charge is just that, non-cash, but what does it mean for stakeholders and how is such a charge actu ...

Post-Grant Review, Inter Partes Review (IPR) and Ex Parte Re-Examination (EPR) alternatives to Litigation Litigation of Intellectual Property is costly. What alternatives do parties have to costly and protracted litigation? This article discusses various options to litigation. ...

A Meaningful New Year’s Resolution Why is compliance so important to business? What are the reasons and consequences for failing to have a compliance program? In this article, Peter J. Comodeca, Esq. with the law firm of Calfee, Halter & Griswold, LLP discusses the legal reasons to comply and costs of failing to comply. ...

The Best Source of Referrals is One Not Readily Considered How can one maximize referral opportunities? What separates the most successful professional services firms from the rest? One key difference is surprisingly simple, and often overlooked: successful firms understand the process of referrals. Most firms work under long-held referral assumptions that are not effective. Most believe that winning new bu ...

Economists Express Concerns About Global Growth The majority of economists polled by Reuters say that global economic growth is slowing in both developed and developing markets.  Their main concern is trouble in China.  Rahul Karunakar examines the results and how still, most economists said there is an "insignificant" chance of a global recession this year. To read the full article in Reuters, click: Momen ...

When clients die, tax practitioners can take a number of steps on their clients' individual income tax returns for their final year that can help the family save on taxes.  Karen Cohen, CPA, explains what they are. To read the full article in The Tax Adviser, click: Taking Control of the Final Form 1040. ...

Risk management requires constant collection and assessment of internal and external information.  Mike Skorupski, head of finance governance, discusses how risk intelligence is collected and managed at Siemens Wind Power in Denmark. To read the full article in CGMA Magazine, click: How to Gather Risk Intelligence. ...

If lenders could look into the future, what would they see?  Jeff K. Davis, managing director of Mercer Capital’s Financial Institutions Group, discusses what could be in store for the energy sector this coming year. To read the full article in Mercer Capital's Financial Reporting Blog, click: Dimon Was Spot on Last Week. This article is republished from Mercer Capital's Financial Reporting Blog.  It is rep ...

Benchmarking Your Reports and Examining What Hypothetical Conditions and/or Extraordinary Assumptions You Have Made! However, thanks to WikiLeaks, “The Interview”, and Sony Pictures, a rather sizeable repository of sample reports exist free of charge. These reports, as you might expect, are from the transaction arms of Big Four firms as well as leading national shops. Anyone who has been doing this for a wh ...