News
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January, 2012 Tax AlertJanuary 23, 2012
The January, 2012 Tax Alert can be viewed by clicking on the web link below:
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Merger and Acquisition Activity Expected to Rise in 2012 - Good News for Business ValuationJanuary 10, 2012
Although merger and acquisition (M&A) activity declined during the last half of 2011 (but rose overall by 7.6 percent for the year), it is expected to be on the rise again in 2012. This will mean a corresponding increase in demand for business valuation experts and firms which offer this service. According to an article in the Wall Street Journal dated Jan. 2, 2012 and titled "On Wall Street, Renewed Optimism for Deal-Making," a survey by Ernst & Young anticipates that "36 percent of companies plan to pursue an acquisition this year." Additionally, the article states that since companies have ready access to cheap financing and large amounts of cash, companies will need to make acquisitions in order to drive growth in the face of a tepid economy.
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Last Chance to Support Independent Board for Private Companies — Comment Letters Due January 14January 10, 2012
State society members have until January 14 to send the Financial Accounting Foundation (FAF) a comment letter supporting the creation of an independent standard setter for private company financial reporting in response to FAF's Plan to Establish the Private Company Standards Improvement Council.
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The Maine Society of CPAs introduces LD 1607 "An Act to Preserve the Integrity of the Maine Certified Public Accountant Examination"January 5, 2012
EXPLANATION -
All states require individuals who wish to become CPAs to take the Uniform CPA Examination, developed and graded by the American Institute of CPAs (AICPA).
State requirements to become eligible to sit for the exam vary, but typically there is an overall education requirement and a requirement for a minimum number of hours of accounting education.
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CCH Tax Briefing 2011 Year in ReviewDecember 22, 2011
To view the CCH Tax Briefing 2011 Year in Review, please click on "READ MORE" below. Download Document [169.5 KB]
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December, 2011 Tax AlertDecember 22, 2011
You can view the entire December, 2011 Tax Alert by clicking on the link below:
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IRS Preparer Compliance InitiativeNovember 28, 2011
We've called this IRS program the "10,000 letters" program in the past, and we're now referring to it as the "IRS Preparer Compliance Initiative." The program started last year when 10,000 practitioners (not just CPAs) received letters and requests for 2500 visits from the IRS during tax season.
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November, 2011 Tax AlertNovember 22, 2011
You can view the entire November, 2011 Tax Alert by clicking on the link below:
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IASB and FASB Publish Revised Proposal for Revenue RecognitionNovember 14, 2011
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB)
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CPAs Urged to Support Independent Board for Private Company GAAP Modifications - AICPA Says FAF Proposal Falls Short of What's Needed for Real ChangeNovember 9, 2011
After reviewing the Blue Ribbon Panel on Standard Setting for Private Companies' recommendations and reaching out to private company stakeholders and advisory groups for input,
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Fall 2011 AICPA Council MeetingNovember 3, 2011
A representative from NASBA addressed the Council. He discussed issues with foreign firms and state legislative concerns. He also said that they will soon be launching a "CPA Verify" website that will allow people to determine the license status of CPAs.
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Surgent McCoy Webinar ScheduleOctober 25, 2011
Surgent McCoy has recently added a number of new webinars, including several on the new Yellow Book revision:
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October, 2011 Tax AlertOctober 19, 2011
The October, 2011 Tax Alert can be viewed by clicking on the link below:
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September, 2011 Tax Alert - Issue #2September 22, 2011
Topics include:
- 2011 Tax Return Filing Due Date
- Maine Revenue Services Rulemaking Activity
- 2011 Maine Sales & Use Tax Symposium
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Online Real Estate Transfer Tax DeclarationsAugust 15, 2011
Titling companies and law offices preparing a property transfer tax declaration form in Maine can now do so more efficiently online, using the free Real Estate Transfer Tax Declarations online service. The new service, offered by Maine Revenue Services, is available by clicking on the following link below.
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September, 2011 Maine Tax AlertAugust 2, 2011
The September, 2011 Maine Tax Alert can be viewed in it's entirety at the following site:
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Private Company Financial Reporting - Your Help is Needed!August 1, 2011
Now is the time for CPAs, lenders, investors, other financial statement users, private companies and small business owners to let the FAF know of their support for much-needed historic changes in private company financial reporting. Support the recommendations of the Blue Ribbon Panel on Private Company Financial Reporting.
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MSCPA Leadership NewsAugust 1, 2011
On July 15, Anne M. Romano, CPA of Portland began her term as 2011-2013 president of the Maine Society of CPAs.
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2011 AICPA Spring Meeting of CouncilJune 27, 2011
Click on the video link below to see the highlights from the May 22-24, 2011 AICPA Spring Meeting of Council in Washington, DC.
Follow Link » |
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The Chartered Global Management Accountant Credential: Recognizing the Unique Competencies and Expertise of Management Accountants WorldwideMay 24, 2011
On May 23, the AICPA governing Council unanimously approved a new credential called the Chartered Global Management Accountant (CGMA), a joint venture of the AICPA and the London-based Chartered Institute of Management Accountants (CIMA). Qualifying AICPA voting members will have the most favored pathway for obtaining the new credential. The credential advances the science of management accounting, while supporting and growing the U.S. CPA as the worldwide standard of professional excellence in accounting. It also recognizes the unique competencies and expertise of management accountants who are leading the world's most successful organizations and providing employers with the best professional management accounting talent to drive sustainable business outcomes.
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