Some Stakeholders Suggest Improvements to Segment Reporting Information A 1996 accounting standard established to improve the way public companies report financial information about their business segments generally achieves that purpose, although some stakeholders suggest improvements. That was the overall conclusion of the post-implementation review (PIR) of Financial Accounting Standards Board (FASB) Statement No. 131, Disclosures about Segments of an Enterprise and Related Information (codified in Accounting Standards Codification Topic 280, Segment Reporting). The PIR process was established by the Financial Accounting Foundation (FAF) in 2010. The Financial Accounting Foundation elaborates:
-
-
Qualifying Offices Can Deduct Up to $1,500 Per Year Michael Cohn at Accounting Today reports that The Internal Revenue Service plans to introduce a simplified way for small business owners and home-based employees to claim the home office tax deduction.
-
When Is a Foreign Tax Creditable Under Sec. 901? The Tax Adviser’s James A. Beavers, J.D., LL.M., CPA, CGMA, reports that The U.S. Supreme Court has agreed to hear a case that delves into the contentious issue of when taxpayers are eligible to claim a foreign tax credit under Section 901 of the U.S. tax code. A ruling by the court would clarify part of the provision that has been litigated for decades.
-
Investors Cool on Tech A survey of tech firms’ valuations shows many companies are challenged. Here’s detail from various reporters:
-
Beyond The Fiscal Cliff: Details to Act On Gail Perry at Accounting Web introduces a set of articles on the effect of the “fiscal cliff.” A first article – New Tax Law Emerges Beyond the Fiscal Cliff – provides an overview of the key tax provisions that will affect your individual and business clients. It’s followed by coverage of how the new law will impact federal estate, gift, and generation-skipping tax exemption limits. Today’s workplace fitness exercise encourages you to get out of your chair for a quick, low-impact pick-me-up! nature of such cooperation uncertain, the heads of the U.S. and international accounting standards setters said…
-
2013 California Filings: Aetna: 22 percent. Anthem Blue Cross: 26 percent. Blue Shield of California: 20 percent. Reed Abelson at the New York Times reported last week that health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration’s health care law was to stem the rapid rise in insurance costs for consumers. More:
-
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 and provide insight into how well processes already in place are helping to identify opportunities with clients.
-
Engage Employees with Teamwork and Consensus; Look Beyond Your Own Industry, and Execute Carefully In a recent issue of the Financial Planning Association’s Practice Management Solutions, Paul R. Brown identifies important factors successful business owners pay careful attention to when managing substantial change in their organizations successfully. Here’s what to pay attention to.
-
The U.S. Must Cut $800 or $900 billion From Our Annual Government Spending to Maintain Mid-term Economic Solvency. And That’s Just the Beginning. Flooding the system with trillions of dollars and deficits has bought the U.S. economic stagnation, writes Rob Slee in an August 20, 2012 post at MidasNation. “What a lost opportunity. One thing we learned in MidasNation over the past few years is that when owners ignore the exponentially changing market and put their heads even deeper in the sand, only bad things result. Further, incremental actions will not change the equation for the better either.…
-
The Richest and Most Comprehensive Comparables: IBA Data, 24/7. Log On Today. Business valuation has often been called an art, not a science. Revenue multiples are one key method; another is the use of comparables. Many valuators use both. KeyValueData offers NACVA members access to the IBA comparables, which are the richest and most comprehensive set of comparable available in the valuation world. Here’s an overview of the why comparables help—and what you’ll find in the IBA data set.
-
Did you see the news? NACVA has partnered with the American Institute of Expert Witnesses (AIEWE), the organization dedicated to training and mentoring professionals in the art of delivering effective courtroom testimony, withstanding grueling cross-examination, and communicating persuasively to judges and juries. AIEWE courses will be offered through the Consultants’ Training Institute (CTI), NACVA’s training affiliate. NACVA has offered Expert Witness Bootcamps for more than five years, but AIEWE emerges this year as its own institution with a specific mandate to serve a broad base of business beyond financial consulting. “It doesn’t matter whether you’re defending a business valuation, challenging…