11Jun11 (12jun25)

11Jun11
Volume 4, Number 12June 25, 2004www.gscpa.org
 
in this issue:
 

CPE News

Tax Info - IRS Issue Letter on Exempt Organizations; IRS & State Partnership to Improve Compliance & Services
C. Michael Cauley new GSCPA President

SEC Approves PCAOB Auditing Standard No. 2

Technology Update

Items to Note: Medicare Alert – Be Aware of Rx Fraud

 
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E-Sources, a resource for GSCPA members, provides timely information about issues affecting the accounting profession, educational opportunities, and special events. E-Sources is sent on the second and fourth Friday of each month.

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This issue of E-Sources is sponsored by:
 

CPE News:


"Staff Training in Taxation- Individual Taxation" (course no. 07014), July 12-14; 24 hours CPE, Instructor: Dennis Benvie. This course is designed to provide the young accountant with one year or less tax experience or the rusty accountant needing an income tax brush-up with comprehensive three days of tax training pertaining to individual income taxation.

Many American businesses continue to agonize over their inability to calculate and understand their true cost of operations. In today's intensely competitive world, traditional cost accounting systems simply don't do the job. Learn more in "The ABCs of Cost Accounting for Improved Performance" (course no. 07016); July 15; 8 hours A&A, Instructor: Jack Park. NOTE: Bring a pocket calculator with you.

"Adapting QuickBooks for Construction Clients - Bring Your Own Laptop" (course no. 07001); July 22; 8 hours A&A, Instructor: Walter Lawrence. In this hands-on course, CPAs will “learn by inputting” how to make QuickBooks Pro 2003 or 2004 adaptable for construction clients, or other clients who need project costing and the ability to create estimates. Course will provide a thorough overview of job costing, progress invoicing, time & materials, estimates, change orders, retainage, and other related topics. Laptop loaded with QuickBooks Pro 2003 or higher required.

Don't miss out on the special room rates at Callaway Gardens for the Estate Planning Conference. The special rates expire Wednesday, July 7. The 2004 Estate Planning Conference (course no. 13000) is July 29-31 at the Southern Pine at Callaway Gardens. CPE, CLU, CFP®, and CLE Credit will be available. Steve Leimberg will present his session, “Dr. Rusty Scalpel: A Minicase with a Sharp Point."

Credits is now available online. To view the most recent issue, please click here.

Tax Info :


IRS Issues Letter on Exempt Organizations - In a letter sent to national political parties, the IRS reissued guidance regarding political activities by tax-exempt organizations, including churches. The letter supplements information contained in a news release issued by the IRS on April 28th of this year. The IRS has issued a similar news release in each presidential election year since 1992.

IRS and State Partnership to Improve Compliance and Services - The IRS announced it has seen promising early results from a partnership with the states to target abusive tax avoidance schemes. So far, the IRS and states have uncovered tens of millions of dollars in previously unidentified abusive transactions during the early stages of the program.

Keep current on tax issues by joining the GSCPA Taxation Section.

C. Michael Cauley New GSCPA President :


On June 23, The GSCPA installed C. Michael Cauley as its new president for 2004-05 at the 75th annual convention in Isle of Palms, SC. For a complete profile of Mike and a list of the newly elected Board of Directors, click here.
 
SEC Approves PCAOB Auditing Standard No. 2:


The PCAOB published staff guidance on audits of internal control. The guidance, issued in tandem with SEC guidance for issuers, can be found on the PCAOB’s web site. The guidance consists of questions and answers dealing with such issues as independence; scope and extent of testing; evaluating deficiencies; multi-location issues; using the work of others, and service organizations. The SEC approved the standard, as required by the Sarbanes-Oxley Act, on June 17, 2004.
 

Technology Update:


"Tech Support-Help, I Need Somebody" SmallBusinessComputing.com (06/08/04); Gerry Blackwell - Without large IT departments and help desks, most small businesses struggle to support internal and external users. Outsourcing can be an ideal solution, especially when the provider is flexible and committed to service level agreements (SLAs) that detail the services offered and the time frames in which they must be completed. Sponsored by Information, Inc.

 Keep current on IT issues and developments by joining the GSCPA Information Technology Section.

 
 


Medicare Alert – Be Aware of Rx Fraud - As the new Medicare drug discount card program begins today, Medicare consumers should be aware of three common frauds including identity theft and "bait and switch" tactics, according to the Foundation for Taxpayer and Consumer Rights.


Georgia Society of CPAs, Atlanta Financial Center, North Tower, Suite 400, 3353 Peachtree Road NE, Atlanta, GA 30326

 


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