AT Think

Congress’s passage this week of an extension of the current income tax rates could be a blessing for many payroll departments, outside payroll processors, and accountants, but the new payroll tax cut is bound to cause a period of readjustment.

If there’s one thing I’ve learned from my time on staff at Accounting Today it’s that the accounting profession is not boring. It’s not a new revelation for me, but it’s sort of become my mantra, guiding me through four years here.

Swiss bank UBS may have managed to extricate itself from its troubles with the IRS by sharing the identities behind 4,000 or so of its client accounts with the authorities and paying a $780 million settlement to the Justice Department, but now it’s worried that some of its employees may have garlic breath and be showing a little too much of their hairy calves when they cross their legs.

IMGCAP(1)] I was casually chatting with our office neighbor, Roger, last week.

Accounting firms should take steps to safeguard themselves from employees who might decide to bring the firm’s clients and secrets with them on a tiny thumb drive when they join a rival firm, recommended one legal expert.

Faculty at colleges and universities nationwide say U.S. educators should spend more time teaching global accounting standards, if they don't want their students to be at a disadvantage in the global marketplace, according to a new survey by the American Accounting Association and KPMG LLP.

As more accounting firms expand to China, they could find themselves in an awkward position with their Hong Kong and mainland Chinese operations.

IMGCAP(1)] You’ve suggested that your clients meet with you to discuss last minute tax planning strategies and to plan ahead for the coming year, but have you taken your own advice and thought about what next year will look like for you in terms of business development and marketing?

The Financial Accounting Foundation appears to be ready to accept a recommendation from an advisory panel that it establish a separate standard-setting board for privately held companies.

Five accounting majors aspiring to become CPAs have been named the recipients of the 2010-2011 AICPA/Accountemps Student Scholarship. These students have demonstrated academic excellence and exceptional leadership.