WICPA Hot News

WICPA Fall Focus: Connecting with the Generations
Hear first hand how WICPA members are dealing with generational issues and what they are doing to overcome generational differences as the WICPA presents WICPA Fall Focus: Connecting with the Generations. This interactive program will look into the communication styles, techniques and professional issues facing ALL generations in the work place. 4 CPE credits, free to attend. Register to come and submit a panelist question for a chance to win a $50 Best Buy gift certificate. Find out more at www.wicpa.org/generations.htm.

IRS contacts listed

To help make your tax season easier, the WICPA has contact listings for the IRS on line at: Filing Season Letter. Phone numbers, e-mail addresses, electronic information, and hours of operation are provided for tax practitioners at this link.

Connect with directors
The free www.directorconnector.com connects businesses and nonprofits with people interested in serving on nonprofit Boards. Candela Solutions LLC, a Madison accounting firm, worked with the Milwaukee law firm Michael Best & Friedrich to launch the service.

Schedule D summary allowed

The IRS has announced that it will allow taxpayers to report capital gains and losses in summary form on 2005 returns. After receiving comments from the AICPA about the burden imposed on tax practitioners, the IRS has released a statement clarifying the Form 1040, Schedule D instructions. The instructions literally state that tax practitioners must enter the specifics of each capital gain or loss transaction on a separate line of the form. However, based on the clarification posted to the IRS’s Web site, tax practitioners should be aware that “. . . taxpayers may continue to use a substitute statement to provide all of the same information and in a similar format to lines 1 and 8 of Schedules D and D-1. They are not required to use the official version of Schedules D and D-1 to provide the details on each transaction. . . . . [T]he details of each transaction still must be provided with the tax return and not just upon request.” The IRS statement is at http://www.irs.gov/formspubs/article/0,,id=109875,00.html.

GASB offers new ‘44’ guide
To assist preparers and auditors of governmental financial statements and their advisors as they implement the new statistical section, the GASB has published a Guide to Implementation of GASB Statement 44 on the Statistical Section. The statistical section is the part of a state or local government’s comprehensive annual financial report (CAFR). The guide includes a glossary, topical index, and the Standards section of Statement 44. It can be ordered (product code GQA44) through GASB at (800) 748-0659 or www.gasb.org.

GE Healthcare Story
Mark Vachon, executive VP and global CFO of GE Healthcare, will share the GE story with Financial Executive International members on Feb. 14 at 5:30 p.m. at the Marriott West in Waukesha. The cost is $50 for non-members and guests, including dinner. Contact Mary Alberte at mary.alberte@cobalt-corp.com.

AICPA requests comments on independence

Due to the evolving complexity of the Independence Standards as codified in the AICPA Code of Professional Conduct, the AICPA Accounting and Review Services Committee is seeking the input of CPAs, their clients and third-party users of compiled financial statements as to the need for independence when performing compilation engagements. The ARSC has issued a survey titled “Need for Independence in Compilation Engagements” to set forth specific questions for the ARSC before it further considers the independence requirements. The survey is available at http://www.aicpa.org/members/div/auditstd/index.htm. Comments may be submitted directly through the survey by May 19.

Hot Jobs at WICPA

Do you have an opening at your organization? Or, are you looking for a job in accounting? We feature Hot Jobs, with new ads continually added. Use this high-value service to supplement your efforts.

Business & Industry News on line
The AICPA New Finance Team, which supports AICPA members in business & industry, communicates with members through an electronic newsletter called BusIndNews. This newsletter is written specifically for the perspective of CPAs practicing the profession in business & industry. It provides a look at the field of accounting. Click here to see the latest issue