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 ...

Reviewing a purchase price allocation report can be a daunting task if you don’t do it for a living.  Lucas M. Parris, senior member of Mercer Capital’s Financial Reporting Valuation Group, presents this guide which focuses on providing an overview of the structure and content of a properly prepared purchase price allocation report. To read the full article in Mercer Capital's Financial Reporting Blog, clic ...

Why You Might Feel Less Assertive After Using a Smartphone Hunching over to use a smartphone or other device can make people less confident and more likely to recall negative memories, research has suggested.  People should be aware of their posture and hold their phones at eye level.  Vivian Giang examines new research that shows the more you hunch over your smartphone, the less likely you are to stand up ...

Earnings Season Likely to Confirm U.S. Profit Recession Major U.S. companies stand a good chance of reporting fourth-quarter results that show earnings have fallen two quarters in a row, marking a recession.  Forecasts call for a 4.2% decline in earnings and a 3.2% decrease in revenue for companies in the Standard & Poor's 500 index.  Bernard Condon, AP business writer, discusses the issues and what to ...

Couples Face Many Challenges in Retirement Planning A lot can go wrong when couples plan for retirement.  Updating important documents and communicating about retirement goals and plans can help couples overcome challenges.  Rodney Brooks, columnist for The Washington Post, discusses some tips to help couples become more prepared. To read the full article in The Washington Post, click: When it Takes Two to ...

How to Get Ready for the 2016 Filing Season As taxes get more complex, the to-do list to prepare for next year gets longer.  Annette Nellen, Esq., CPA, CGMA, looks at recent developments and discusses what tax practitioners can do to get ready. To read the full article in The Tax Adviser, click: Preparing for the 2016 Filing Season. ...

How to Tap into the Business Benefits of Diversity It's not enough to have a diverse workforce and leadership team.  Companies also need to have leaders who recognize the value of the ideas their employees share.  Sylvia Ann Hewlett, founder and CEO of the Center for Talent Innovation and Hewlett Consulting Partners LLC, discusses when a diverse company has these types of leaders, it tends to report better ...

What is key in considering the value of customer-related intangible assets?  Lucas M. Parris, senior member of Mercer Capital’s Financial Reporting Valuation Group, examines what attributes are important and their valuation. To read the full article in Mercer Capital's Financial Reporting Blog, click: Valuation of Customer-Related Assets. This article is republished from Mercer Capital's Financial Reporting ...

Help Your Small-Business Clients Create a System for Record Keeping Good record-keeping preparation and planning can give clients a better handle on their overall financial position, make tax preparation easier, and create operational efficiencies throughout their businesses.  A helpful record-keeping brochure and PowerPoint presentation can help you educate your small-business clients. To download the broc ...

Two Apps That Help You Move Cash These smartphone apps can help with mobile billing and accepting credit card payments.  Greg LaFollette, strategic adviser with CPA.com, suggests that a look at mobile apps can make the CPA’s job and life better. To read the full article in the Journal of Accountancy, click: Expanding Your App-titude. ...

Offering your clients specialized services—personal financial planning, IT specialization, and fraud and forensic accounting, among others—can help set you apart in today's competitive CPA marketplace.  Mark Koziel, CPA, CGMA, Vice President, Firm Services & Global Alliances, American Institute of CPAs, discusses how finding your niche can help you and your clients. To read the full article in AICPA Ins ...

GIPS are a set of ethical principles intended to serve prospective and existing clients of investment firms.  However, compliance is the question.  Mary Grace McQuiston, senior financial analyst with Mercer Capital, discusses this issue and the GIPS Guidance Statement on Alternative Strategies and Structures. To read the full article in Mercer Capital's Financial Reporting Blog, click: Are You GIPS-Complian ...

Is Your Finance Team the Best it Can Be? Finance teams that excel tend to have similar qualities.  Here are five key characteristics, including strong leadership and effective use of resources.  Kerry Maruna charts a path to get you on the right track. To read the full article in CFO, click: 5 Signs Your Finance Team Rocks. ...

Fed Limits its Ability to Rescue Financial Firms The Federal Reserve has adopted restrictions on its ability to rescue failing financial companies.  Howard Schneider reports in this article that under the rules, the Fed can provide only broad-based assistance and cannot rescue individual firms. To read the full article in Reuters, click: New Fed Rule Limits its Crisis Bailout Powers. ...

Determining Whether Debt is Recourse or Nonrecourse When a partnership has a debt that is forgiven, its characterization as recourse or nonrecourse can make a big difference in its tax treatment, including being eligible to be excluded under Sec. 108, as this article explains.  Mark Cook, partner with SingerLewak LLP, discusses how Sec. 752 should be interpreted under CCA 201525010. To read the full article ...

The Securities and Exchange Commission staff published a report of its review of the definition of “accredited investor”.  Congress directed the SEC to review the definition every four years in Section 413(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the staff recently submitted their recommendations to the Commission. To download this report, click: Report on the Review of ...

Filing Tax Returns Early May Foil Identity Thieves People may be able to thwart crooks targeting their tax refunds by filing their 2015 tax returns as early as possible.  Russ Wiles for USA Today, explains how clients can get some of the supporting paperwork completed now so their returns can be filed as soon as the Internal Revenue Service starts accepting them. To read the full article in USA Today, click ...