AICPA Acquires Professional Development Institute
Restructures CPE Unit
The AICPA announced on February 22 its plans to acquire the accounting and financial management education arm of Professional Development Institute (PDI) and restructure its own professional development unit.Article

ISB Takes Command of Alternative Practice Structures Wants No Guidance from Committee
The Independence Standards Board recently told its affiliated Independence Issues Committee that the board does not want the committee's guidance on alternative practice structures. Article

President's Message
In this country, we elect people to represent us and do what is best for the whole. This means that on occasion, the elected will make decisions contrary to what had been said or contrary to the perceived wishes of the electorate. Representative democracy in action. Well, that is what has happened to the NYSSCPA recently, with respect to the proposed accountancy law Article

Society Participates in National Vision Conference
Officers, executive directors, and other key staff members from all 50 state societies discussed the vision for the future of the accounting profession at an AICPA national vision conference held in late January in Tucson, Ariz. Article

Carl T. Hayden to Speak at Annual Dinner
New York State Board of Regents Chancellor Carl T. Hayden will speak at the Society's Annual Election Meeting and Dinner, scheduled for Thursday, May 13, at the Sheraton New York Hotel and Towers.Article

Industry CPAs Offer Advice on Society Services
In its ongoing effort to improve services to CPAs in industry, the NYSSCPA connected with members from The New York Times Company and Colgate-Palmolive who offered ideas about how the Society could help meet the needs of this membership segment. Article

Attn: Members in Industry...Article

Members' Website Questions Answered
The following are answers to some frequently asked questions (FAQs) about the NYSSCPA's website, www.nysscpa.org.Article

Member Input Needed on Annual Conference
To help the Society better meet the needs of its members, the Annual Conference Task Force, chaired by P. Gerard Sokolski (Rochester), vice president for chapters, is studying the current structure of the Annual Conference.Article

Estimating Profits and Reconstructing Events with Incomplete Records
Frequently in litigation and fraud engagements, accountants must make assumptions and work with incomplete records. When doing so, CPAs must be careful to make reasonable estimates based on extant records, facts, and circumstances.Article

Society Catastrophe Insurance Provides $1 Million in Benefits
Catastrophic injury or sickness is an unexpected but very real possibility. The NYSSCPA $1 million Catastrophe Major Medical Plan prepares members and their families for the burden of hospital, surgery, and doctor bills associated with a serious illness or injury. Article

CPAs Teach Reporters About State Budget and Corporate Earnings
Journalists covering the state government gained insights on reading the New York state budget at an NYSSCPA-sponsored seminar held in Albany on January 26, the day before Governor George E. Pataki released his 1999­2000 proposed budget.Article

Forum to Address Key Ethics Issues Article

Members in the News... Article

Society Leaders Offer Candidates Insight on UAA
The New York State Association of CPA Candidates hosted a January discussion on the Uniform Accountancy Act and how it will affect current and future CPA candidates.Article

Suffolk Young CPAs Acknowledged for Charity Effort
The Make-A-Wish Foundation of Suffolk County recently complimented the NYSSCPA Suffolk Chapter's Young CPAs Committee, which last fall raised $4,000 for the foundation. Article

COAP Application Process Underway
The Career Opportunities in the Accounting Profession (COAP) program is now recruiting students for its 1999 residency program, which exposes minority high school juniors to careers in the business world.Article

In Memorium  Article

New York College Savings Program Offers Tax Benefits
New York state has established a college savings program that takes advantage of section 529 of the 1997 tax act, which included a benefit to allow states to establish college savings accounts for taxpayers with any amount of income. Article

Society Committees Host N.Y. and N.J. Charities Bureau Representatives
The NYSSCPA Exempt Organizations and Not-for-Profit Organizations committees cosponsored a joint meeting of their members on February 17 that featured Karin Goldman, assistant attorney general of the New York state charities bureau, and Anne Marie Taggart, supervisor of the New Jersey charities registration bureau. Article

Chase Economist Speaks to Suffolk Chapter
Dr. Irwin Kellner, consulting economist for Chase Bank and professor of economics at Hofstra University, was the featured speaker at what has become his annual address at the January dinner meeting of the NYSSCPA Suffolk Chapter. Article

Guidance Issued on Revenue Recognition
The AICPA recently released Audit Issues in Revenue Recognition, a publication "designed to help auditors and preparers of financial statements better appreciate the importance of accurate revenue recognition."  Article

AcSEC Issues Proposal on Software Revenue Recognition
The AICPA's Accounting Standards Executive Committee issued Statement of Position No. 98-9, Modification of SOP 97-2, Software Revenue Recognition, with Respect to Certain Transactions, that amends paragraphs 11 and 12 of SOP 97-2 to require recognition of revenue using the residual method when... Article

Manhattan District Director Discusses IRS Improvements
Internal Revenue Service Manhattan District Director Charles R. Baugh provided updates on the IRS's electronic filing program and other improvements the agency has made since its restructuring. Article

FAE Offers Four Conferences in May
This May, FAE will present committee conferences on estate administration, the entertainment and sports industry, and broker/dealer issues, and a new event for chief financial officers. Article

Member Helps Ukrainian Children with Heart Defects
George M. Kuzma founded Ukrainian Gift of Life, a not-for-profit organization that helps identify children with congenital heart defects in the Ukraine that need, but cannot afford, surgery.Article

Welcome new members! Article