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Skeptical CPA
"Johnathan Griffin, Michael Pawlak and Chris Iuso all are chasing bargains on foreclosed homes here [Las Vegas]. ... 'I thought it would be a heck of a lot easier,' said Mr. Iuso, a renter who wants to buy a home but has been outbid eight times, usually by investors able...
"The architect of Goldman Sachs Group Inc.'s controversial 2001 trade with the Greek government is a top executive in the bank's London office with a yen for yoga and a command of Greek. Colleagues say 46-year-old Antigone Loudiadis [AL], who has a given name from classical mythology but goes by...
"Milton Friedman has been dead for more than three years. But his spirit was surely hovering protetively over Chile in the early morning hours of Saturday. Thanks largely to him, the country has endured a tragedy that elsewhere would have been an apocalypse. ... By contrast, Saturday's earthquake in Chile...
"China's local governments, which ran up huge debts in the record-breaking lending spree of the past year, are now feeling the pinch as authorities in Beijing tighten credit. ... Now regulators in Beijing, worried that local governments won't be able to pay back all their loans, are increasing their scrutiny...
"What was it like to spend nine years trying to persuade the [SEC] that Bernard Madoff was a fraud, only to learn that the agency thought he was perfectly reputable? For nine years I was the SEC's dormat. Now you're triumphant, a hero in investment circles who exposes the SEC...
"Concerns that Greece and other struggling European nations may not be able to repay their debts are focusing attention on another bug worry: Economies across the Continent have used complex financial transactions--sometimes in secret--to hide the true size of their debts and deficits. ... Despite criticism, european leaders deemed many...
Tick Marks
The Public Companies Accounting Oversight Board starts its 2010 road show in Charlotte, NC this April with trips to seven cities planned (though the New York and Jersey City stops effectively are two days in the same general area). Among agenda topics are: PCAOB Standard 7 (Quality Review), risk...
The Illinois CPA Society has come up with six tax recommendations for younger filers: [1] take full advantage of available deductions and credits (such as the first-time homebuyer credit, child credit and lifetime learning credit). It is important to make sure that you have appropriate documentation, [2] e-file for...
GAO Goes After PCAOB on Audit Risk Disclosure
The Government Accountability Office has criticized the Public Companies Acccounting Oversight Board for its risk assessment audit standards. GAO says that the new standards could confuse auditors and unnecessarily push audit costs higher. Last year, PCAOB's chairman essential to user confidence and bedrock for future standards. CPA...
Tax Bill Introduced; Money Trees Needed
Senators Harry Reid (D-NV, for now) and Max Baucus (D-MT) have introduced the American Workers, State and Business Relief [Tax] Act in the Senate. Former sponsor Charles Grassley (R-IA) criticized the bill's cost and other facets. Provisions in the bill include an extension of unemployment benefits, 65% subsidy...
Ten Self-Employment Potential Deductions
Ellis Jackson of allproman.com provides ten ideas for the self-employed to consider for potential tax savings. They include: mapping your house to see if you can justify a home office deduction; deduct health and dental insurance in full if you cover your whole family; meals and entertainment (at 50%!)...
As the NCAA tourney approaches, Purdue's hopes took a sizable hit with Robbie Hummel's injury. Though less widely reported, Missouri (which was my other graduate program) also lost THEIR forward, Justin Safford. Both occurred in the first half of the respective games. At the risk of crying...
Financial Planning Digest
SEC won't increase number of inspections despite budget boost
The Securities and Exchange Commission will inspect 9% of the 11,000 advisory firms it oversees next year, equal to the numbe -More- ...
Discount available on Roth IRA Conversion Expert software
CCH is offering a 10% discount off the Roth IRA Conversion Expert software for PFP Section members who purchase the hard-copy -More- ...
Foreign-born Americans and their children are a huge untapped market
Even if you don't speak Spanish, Hindi or Urdu, if you're a financial advisor in the United States you should become comforta -More- ...
Bernanke: Fed to pay interest on deposits from retail banks
-More- ...
SEC's audits give advisers doubts about doing trustee work
The Securities and Exchange Commission's new surprise audits for trustees, required by a regulation that will take effect Mar -More- ...
Most financial advisers don't get a second opinion for themselves
Although financial advisers have argued for years that they should be considered professionals along the lines of lawyers and -More- ...
A Counting School - Hardcore Chartered Accountancy
Getting noticed: the cure for the "woe is me, I am unassigned" pity party
Some people are working over 50 hours a week. Others barely have a reason to come in to the office, because they're just going to chat with their friends and make four trips down to Tim Horton's. Is this curious phenomenon limited to just accounting firms? Maybe not, but who cares -...
The ICAO redeems my faith in humanity, and the accounting profession in Ontario
No doubt in direct response to my last post, the Institute of Chartered Accountants of Ontario has just announced a wonderfully charitable and clever rule change for CA students who aren't currently employed by a CA firm. Clearly the snark worked its magicUntil now, if you wanted to write the CA...
CA Magazine: Afraid of the "L" word!
This month's CA magazine features a mention of Stefano Picone, CA, founder of mycasite, but before you can read that you may read the following unrelated trainwreck of a paragraph - read it and guess what went wrong here:"Firms only interested in training CA students who wish to practise public accounting...
This image pretty much summarizes the last two or three weeks. It's been a wild a joyful blur. Between supervising ICAO low-income tax clinics, hitting multiple deadlines with aplomb and celebrating Canada's Gold, there's barely enough time to go skiing. Last chance for me is likely today. The one big downside I...
Canada wins gold! Which Big Four firm is winning?
Congratulations to Alexandre Bilodeau for bringing a glorious golden victory to Canada's western shores! In tribute to his spectacular mogul run, I offer some Big 4 snow sport action. The snow profile above, sadly, is a little too similar to that in Vancouver this month. Who would've expected mild weather in February...
New guide: how to successfully wait in line at a Polish deli
I really do wish the following tutorial was not necessary, but recent events have showed me that our education system has clearly failed us. Now that there is an influx of people with absolutely zero life skills arriving in my neighbourhood, I have, as usual, found it thrust upon my shoulders to deliver a...
Life and Times of Accounting
Again today I have encountered another misunderstanding. Sometimes, I think this happens because people hear things, but don't really make sure they have the "full story" before acting.I am very cautious when reading about promotions ... and that includes tax breaks the IRS or states offer. It is best...
This week I am basking in the glow of client complements. One client told me yesterday that I was Superwoman! Well, I cannot leap buildings with a single bound, but I sure can crank out taxes and look for those Creative Accounting Solutions. Also, somehow I can do what I...
How to Deal with Stress at Your Job ...
I got a nice article the other day from Stanley Popvich www.managingfear.com.He writes articles about stress and how to handle it on the job.He must have ESP and feel that I am getting stressed out...
Caller: Hi, our printer is not working.Customer Service: ...
I think we should see the world through the eyes of a good piece of cheese. The best cheeses are the ones that are "well-aged". So getting older should be embraced by all. As my great grandmother used to say ... "you should age gracefully". Happy Birthday ROGER (hubby extraordinaire)!...
The very latest in birthday flower arrangements is a cake arrangement. It even comes with candles that you can light ... just like a cake. No more fattening cake that you have to try to resist ... you know ... from eating the whole thing at one sitting. My husband...
CPA Success
'We're doomed!' The David Walker tour rolls on
Say this about David Walker: He knows how to stay on message. For more than three years, the former U.S. comptroller general has been telling anyone who will listen that the country is heading toward financial ruin. He has said......
How to beat the odds and roar out of the recession
Do you believe in odds? Recent research from HBR shows that only 9 percent of companies come roaring out of a recession stronger than ever. Where should you place your best bets to prepare your business or firm to rebound......
Are you moved by mobile? Take our survey
Being connected is no longer enough, is it? Nowadays, more and more of us feel the need to be constantly connected. Ninety-three percent of U.S. adults own a cell phone, and 17 percent of them now own a smartphone. That......
Want sanity? Try 95%, Rule No. 6 and QTIP
I have two primary principles that keep me sane (although I know that is questionable from time to time): Ninety-five percent of my pain and trouble is caused by myself (my own actions). If it was easy, everybody would do......
Audit quality: More important than ever?
Is the role of the auditor more important today than at any other time in recent memory? I think the argument can be made. Wall Street is under scrutiny, the government has been doling out money left and right to......
GAO: Accountability goes multimedia
If you haven't read a Government Accountability Office report lately, it's time you did. The reports may never win a Pulitzer, but they're informative and eye-opening, and they serve an important purpose: They're sort of our eyes and ears inside......
Deloitte Global headlines
Deloitte webcast: Women’s advancement to leadership positions still elusive
Panelists see large discrepancy between women’s representation in mid-level, managerial positions versus leadership roles. ...
Global Competitiveness in Manufacturing video library
Leaders in the manufacturing industry talk about Deloitte's Global Competitiveness initiative and its impact on the industry. ...
Focus: International Women's Day 2010
Join us as we salute women leaders, but especially the women of Deloitte. ...
Middle East hoteliers prove to be the strongest
2009 data for Beirut, Jeddah & Amman and AbuDhabi & Dubai. ...
Jordan’s tourism sector shows resilience according to Deloitte analysis of 2009 hotel performance
An occupancy rate of 56.1 percent in the 12-month period ended December 2009 observed. ...
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Forensic Accounting Today
Antifraud Tips for Accounting Professionals
Later this morning, I'll be delivering a variation of my "Preventing and Detecting Workplace Fraud" presentation to 40-50 accounting managers and project accountants who work for a publicly-held, global real estate services company. I'll give up-front emphasis to the following......
New Book Gives Credit to JE Moore Blog
Last week, while browsing in my local Barnes & Noble bookstore, I was pleasantly surprised to see my name and blog...in print! The Solo Accountant Reporter (this blog's original name) was listed along with a number of other bloggers/blogs in......
Preventing Fraud in the Workplace
Yesterday, at the conclusion of my "Preventing and Detecting Workplace Fraud and Abuse" presentation at the National Association of Real Estate Companies (NAREC) Annual Conference, I offered the following: Ten Antifraud Suggestions Emphasize "prevention" of fraud; it's much less costly......
Expert Speakers Lined Up for GSCPA Fraud & Forensic Accounting Conference
"Who's who" of Georgia professionals to speak at 9/18/09 event Next Friday's 2nd Annual Fraud & Forensic Accounting Conference, presented by the Forensic and Valuation Services (FVS) Section of the Georgia Society of CPAs, will provide CPA practitioners a wide......
To Catch a Thief: Recovering Assets After an Embezzlement
Lately, primarily due to its amazing ease of use, I've been relying heavily on Twitter to direct my audience to topics pertaining to forensic accounting. In this blog post, I want to emphasize one of my recent Tweets which points......
Markopolos Gives Advice to Aspiring Fraud Examiners
Harry Markopolos, CFE, CFA, now famous for his recent testimony before the U.S. House of Representatives Financial Subcommittee on Central Markets about the Bernard Madoff Ponzi scheme, offered the following tips in an interview for the ACFE's May/June 2009 issue......
How to avoid giving free advice to prospects
I’m reminded of the old sex education message: Just say ‘no’! As professional advisers we are all used to prospective clients seeking free advice. As I’m no longer in practice and as a frequent blogger I have very different perspective now. So here is some free advice from me. When a...
Radio 4: A Brief History of Double-Entry Book-keeping
Readers may be interested in this Radio 4 series starting tomorrow Monday 8 March. There are ten episodes to the series so thank goodness it’s only a ‘brief history’! 8 Mar 2010 15:45–16:00 BBC Radio 4 Episode 1 1/10. Jolyon Jenkins traces the religious roots of some accounting practices. 9 Mar...
Save time with a travelling meeting room
This is a first. A friend of mine, Tom Ball, is the brains behind a unique idea that could be of use and interest to many professional firms. Hence the reason I’m blogging about it. AllABoardroom is a meeting room and bar aboard a customised bus. They removed the seats and...
What do you say when you’re asked for referrals?
Accountants are often seen as the ideal people to to ask for referrals. After all, accountants in practice will often act for dozens of clients, many of whom are targets for other complementary suppliers. This means that accountants are routinely approached by financial advisers, will writers, software developers, marketing consultants and...
Graduates are too expensive as accountancy trainees
Last week Personnel Today reported that PwC is launching a new graduate assessment route with less reliance on degrees. In effect this is PwC stating that they will cease to be seeking only those with top degrees. About time too in my view. Some years back when I was a partner...
What do you say when you ‘Keep in touch’?
Whether we use online ’social’ networks or we focus on the more traditional communication methods, we know we have to ‘keep in touch’. If we don’t do this we will be forgotten. When I was younger I used to think that my sparkling personality, wit and conversation would be sufficient to...
Jr Deputy Accountant
Blowing a Bigger Bubble: The Green Scam
I remind you I live in San Francisco. California. You know, the state that invented hijacking tax refunds because it cannot pay its bills - ever the trend-setter, California may not be alone this year in holding on just a tad longer to money that was never theirs in the...
No Administration Left Behind, Just America's Few Remaining Geniuses
My what is a dumbass?! (seriously, it's real) Ask Skeptical CPA how he feels about the state of education in America. I am compelled to agree with him, the educational system in this country is a fraud, plain and simple. Some have suggested state-subsidized "higher" education is little more than a...
Obama's Foreclosure Plan a Success (Half of One, at Least)
There isn't much to say about this, least of all "I'm shocked" or "OMG you have to be joking me!" - more like "yeah, and?" WaPo: About 90,000 distressed borrowers have lost their mortgage aid under the government's foreclosure prevention plan, and many more are at risk of losing the help, according...
OMG! Obama Moves Quickly to Populate the Fed, Announces 2 Possible Board Picks
Pic credit: married to the seaSuddenly concerned with filling up vacancies at the Fed Board of Governors, Obama is busting his ass to get his picks into the temple on 20th and Constitution. I need not even express my skepticism, I'm sure you all already know how I feel.NYT:Moving quickly...
JDA's Worst Nightmare Comes True: Obama Taps SF Fed's Janet Yellen as Fed Vice Chair?
Pic credit: married to the seaFirst the official stuff and let me just tell you, I had to step outside and get a breath of fresh air after I read this just to make sure I wasn't suffering from some kind of paranoid delusion. Was I sleeping? Someone fucking pinch...
Drug Dealers and Crackheads Go Free in San Francisco
Seriously. First California is broke and has to release state prisoners to alleviate part of the costs sunk into housing their bad asses, now the SFPD drug lab has a cokehead problem and the City Attorney's office has to let a bunch of criminals go as a result. What the San Francisco...