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'Wow" would be sort of an understated onomatopoeia to describe the past year in terms of events, changes and headlines within the accounting profession. As this is my 11th end-of-the-year column, I'll again foolishly predict that 2012 could not possibly top the previous year, despite a decade of being proved wrong. Perhaps this is why I rarely gamble while attending various events in Las Vegas.

December represents one last chance to consider certain year-end tax strategies before the door closes on the amount of income, deductions and credits set for the year. Many traditional eleventh-hour techniques are applicable to this year-end 2011, with certain twists that recognize changes on the horizon for 2013. This column examines a handful of considerations especially useful to the individual taxpayer in these final weeks of 2011.

ARIZONA

We're confident we're not alone in witnessing a number of questionable decisions by the AICPA's managers. One or two poor choices can be overlooked as normal mistakes, but the pattern is clear, to the point that we wonder why people stay affiliated unless they feel management is advancing their special narrow interests.

Your November coverage of the Chartered Global Management Accountant accreditation, in addition to your, "AICPA, CIMA Plan Push for New Management Credential," (AccoutingToday.com, October 18) sheds light on the critical role management accountants play in today's competitive global marketplace. What this article fails to share is that there are, in fact, gaps with regard to the testing, assessment and measurement of critical skills during the first three years of this venture.

Accounting firms typically have multiple partners, some of whom may want to retire or move on in the near future, and others who want to stay longer.

Offering payroll services to clients has long been seen as either a reluctant necessity or an essential service for CPA firms.

IRS TRIES TO KEEP UP WITH FINANCIAL DERIVATIVES

Taking the PFP practice of most CPA firms to the next level should be easily accomplished for any firm with a good client base, a good leader who is a good communicator and a business plan incorporating some of the best practices utilized by many of the nation's top financial advisors. But you would be amazed at how many CPA firms cannot take the next step.

The on-again, off-again status of IFRS is a fact of life for those of us in the accounting profession. But it's not an excuse for inaction.