Practice Management

Optimism among CFOs about the U.S. economy and their own companies fell precipitously in the third quarter, according to a new survey.

The House Committee on Small Business held a hearing on creating opportunities for small businesses in an economic recovery.

An advisory committee on tax information reporting has recommended a number of changes for the Internal Revenue Service to make to improve taxpayer identity protection, disaster reporting and other matters.

The Tax Foundation has selected three videos as winners of a contest that aims to draw attention to the high rate of business taxes in the U.S.

House Financial Services Committee Chairman Barney Frank, D-Mass., said he did not plan to have Congress suspend fair value accounting rules.

Accounting firm J.H. Cohn has formed a Client Economic Recovery Team to advise financial institutions and public companies affected by the financial crisis.

Accounting firms plan to continue growing through client specialization, joining networks and other strategies, according to a new survey.

Accounting firm Eide Bailly has expanded by combining with three other practices: Gordon, Hughes & Banks; Keller, Young & Grover; and Magee, Rausch & Shelton.

It might seem strange, pairing the phrase “love fest” with the AICPA Fall Council meeting, but I tell you, the lovely and heartfelt moments were flowing as freely as the wine and margaritas at the opening reception.

“An emperor of a prosperous city who cares more about clothes than military pursuits or entertainment hires two swindlers who promise him the finest suit of clothes from the most beautiful cloth. This cloth, they tell him, is invisible to anyone who was either stupid or unfit for his position. The Emperor cannot see the (non-existent) cloth, but pretends that he can for fear of appearing stupid; his ministers do the same. When the swindlers report that the suit is finished, they dress him in mime. (acting out a story through body motions, without use of speech—Ed.) The emperor then goes on a procession through the capital showing off his new ‘clothes.’ During the course of the procession, a small child cries out, ‘But he has nothing on!’ The crowd realizes the child is telling the truth. The Emperor, however, holds his head high and continues the procession.”