The Latest

Accounting firm Plante & Moran has introduced a “Liquidity Stress Test” tool that manufacturing businesses can use to assess their working capital needs.

Grant Thornton has introduced a service designed to speed companies through the bankruptcy and workout process.

International Accounting Standards Board chairman Sir David Tweedie said that other countries are running out of patience waiting for the Securities and Exchange Commission to decide on whether to approve a roadmap for transitioning to International Financial Reporting Standards and that the U.S. would need to commit by 2011.

Eli Mason, whose career in public accounting spanned more than seven decades as a practitioner, and a proponent of the profession, has died after a long illness.

The Internal Revenue Service issued an alert about new identity theft scams from fraudsters using the IRS’s name, logo and Web address.

General Electric has agreed to pay $50 million to settle Securities and Exchange Commission charges that the company reported false and misleading results in its financial statements.

Former IRS Commissioner Mark Everson has been named vice chairman of alliantgroup, a provider of specialty tax services to businesses, where he will advise the company on strategic, operational and client service initiatives.

Minority doctoral students got a boost this past weekend when the KPMG Foundation granted thousands of dollars in scholarships for the upcoming academic year.

IMGCAP(1)]In Fall 2008, I read about AICPA Board Chair Ernie Almonte’s vision for the Leadership Academy with great interest. Fast forward eight months, where I had the opportunity to travel to Chicago and attend the Academy. After three inspiring days of networking and roundtable discussions, it was no surprise to hear Almonte express to the participants of the inaugural Academy that it was the culmination of “a dream come true.”

CPAs are often characterized by a propensity to cut expenses, butare they good at pruning? New growth comes from pruning, whereas deathcan result from cutting. Some firms are resorting to making cutswherever possible, while others are finding quality personnel andskillfully managing overhead.