By Douglas M. Boyle, CMA, CPA, DBA; Brian W. Carpenter, CMA, Ph.D.; and Daniel P. Mahoney, CPA, CFE, Ph.D.
Several years ago the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) moved to the impairment-only model for goodwill accounting. Now many users and preparers are suggesting a return to the amortization model. What is really going to happen?
How Risky Are Your Lease vs. Buy Decisions?
By Thomas L. Zeller, CPA, Ph.D.; Brian B. Stanko, CPA, Ph.D.; and Andrew D. Tressler, CPA
In today’s business climate, organizations need to make sure they understand the risk involved in various projects and programs. Adding risk analysis to companies’ lease vs. buy decisions via Monte Carlo simulation and present value analysis can help.
Highlights of Financial Restatements from 2000 through 2011
By Ping Lin, CMA, Ph.D.; Sophie Lee, Ph.D.; Xiaoying Chen, Ph.D.; and Jasmine Yur-Austin, Ph.D.
The authors investigated more than 11,000 financial restatements from right before the Sarbanes-Oxley Act of 2002 (SOX) was enacted through several years when restatements were peaking. They found that more than 90% were concentrated in accounting rule application failure, 75% were concentrated in five industry sectors, and revenue recognition was the most common form of financial statement fraud.
Using Roth IRAs and Section 529 Plans as Estate-Planning Tools
By William N. Bockanic, J.D., and Roland L. Madison, Ph.D., CPA
Proper estate planning is essential for everyone’s future financial health. Even though many people talk about traditional individual retirement accounts (IRAs), the authors show how to use Roth IRAs and Section 529 tuition savings plans for this purpose.