The Latest

The Financial Accounting Standards Board has issued final guidance on transfers of financial assets and repurchase financing, which should have an impact on the mortgage and real estate investment trust industry.

Is the ease of email damaging the personal relationships accountants are trying to build and keep with their clients and colleagues? Some firm owners may worship the Internet for allowing them to expand their services to other cities and states without having to endure a strenuous commute for annual appointments. Technology developments such as online portals allow clients to upload all their tax documents and download their return information without even speaking to their preparers. This can save a firm countless man hours—and dollars—printing, copying and mailing such material and constantly calling clients for status updates. But just because they don’t have to speak to or visit their clients doesn’t mean they shouldn’t. There’s something to be said for the value of face time. Conferences provide a great venue to mingle with people in the industry and sometimes even speak to those in charge of implementing changes, especially at vendor shows. Unfortunately, not everyone has the luxury of leaving their offices for multiple days at a time, let alone forking over the cash for the flight, hotel and conference fees. Thomson held its 27th annual Creative Solutions Users’ Conference in Hawaii last November. Sounds like a great chance to enjoy some beach time with your CPE. But when the flight from New York costs more than $600 and takes roughly 13 hours, East Coasters likely thought twice. Attendance dropped by more than 100, which the vendor anticipated and attributed to the larger travel commitment and airfare prices.

The U.S. Supreme Court declined to hear Ford Motor Co.'s appeal in a tax case involving the cities of Seattle and Tacoma, allowing the cities to tax 100 percent of the automaker's wholesale sales in the two Washington State cities, even though the transactions were processed in Dearborn, Mich.

Forty percent of taxpayers plan to file their taxes online this season, up from 34 percent three years ago, according to a new survey.

Two additional defendants have been charged with criminal tax fraud in a tax shelter case involving current and former partners at Ernst & Young.

Sage Software introduced a program to support users of its Peachtree by Sage software with extra support for Microsoft Excel.

CCH has introduced Knowledge-Based Audits of Governmental Entities, a module in its CCH Accounting Research Manager series that helps professionals comply with risk assessment standards.

CPAs who are also senior financial executives expressed pessimism in the U.S. economy and expectations of continuing declines, according to a new survey by the American Institute of CPAs.

Since taking over management of the Institute of Management Accountants in January 2004, Paul A. Sharman has established an entirely new direction for the association.

Chrissie Hynde, lead singer of the Pretenders, rode an Akron bus to show her support for a countywide sales tax increase that would bring increased revenue to the local mass transit system.