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July 2003 Articles

State Senate Passes Accounting Legislation

NEW YORK—The New York State Senate approved the first comprehensive update of accountancy laws in 56 years when legislators passed an accounting reform bill last month. (Article)

SED Scrutinizes Accounting Reform Bill

NEW YORK—The New York State Board for Public Accountancy met in late June to discuss accounting reform legislation unanimously passed by the New York State Senate earlier in the month. (Article)

Taxpayer Advocate Sheds Light on Service’s Makeover

NEW YORK — A lean Internal Revenue Service is emerging from its mandated reformation, carrying the double-edged promise of better customer service with a resurgence of audits, officials said during a recent New York State Society of CPAs’ conference. (Article)

President's Commentary

At the end of June, the New York State Senate unanimously passed accounting reform legislation. (Article)

Hoops Holding Court

One of his goals and perhaps the resounding theme of his tenure as the newly elected president of the New York State Society of CPAs is to make tangible advancements in each of the areas designated by the strategic plan implemented exactly one year ago. (Article)

The 2003 Tax Act: It Pays Big Dividends, for Some Anyway

The White House likes to say that the Jobs and Growth Tax Relief Reconciliation Act of 2003 is a victory for income-tax-paying Americans, but even if that’s true, the legislation has clearly bestowed investors with the first-place trophy. (Article)

Task Force Seeks Input

The New York State Society of CPAs’ Peer Review and Ethics Task Force leaped into action in May, beginning with an active dialogue on peer review, quality standards and practice monitoring that promises to continue for several meetings before any recommendations are made. (Article)

Playing Bridge

Though it’s more commonly known as a structure that spans two points or a game of cards especially popular with the senior citizen sector, a bridge can be an integral part of a successful media interview. (Article)

At Your Leisure: Summer Reading Suggestions

Nothing goes better with 18 holes or a dip in the pool than reading a book the size of a boulder. (Article)

Fourth Annual Western Regional Conference

The Western Regional Members in Industry and Commerce Conference continued to increase in popularity this year as CPAs from all over western New York set a new attendance record for the event. (Article)

Feeding Frenzy Around Martha Stewart Indictment

As Martha Stewart faced her indictment, about 100 CPAs simultaneously enjoyed a catered lunch that would have made even America’s leading homemaker proud. (Article)

Living Up to the 401(k)

Though strong stock performance may be the obvious hallmark of a good 401(k) plan, education and communication about the plan may be the clearest indication that a fiduciary is satisfactorily serving the needs of his company and its employees, some experts believe. (Article)

Deciding a Firm’s Continuing Professional Education Approach

While there are some mandatory minimum hours of continuing professional education (CPE), the effort to stay current takes more than the minimum hours, especially when considering the professional journals and other literature that is read. (Article)

Committee Close Up (Article)

2005 Sunrise Date for Barcodes

A September 1997 article in the Daily Yomiuri reported that the “latest fashion craze” among high school girls in Tokyo was temporary tattoos in the shape of a bar code. (Article)

Students Sit Up and Take Notice of Careers in Accounting

Yes, you’ll still have a social life.” The reassuring statement drew a bit of suppressed laughter from some in a group of high school students. (Article)