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 May 11, 2009 — In This Newsletter:

Recession Makes CPE a Survival Tactic
by Rick Telberg/At Large
What’s YOUR personal economic stimulus plan? Join the survey; see the results.

Your clients depend on you as their Trusted Advisor. Want to strengthen that relationship? Start using the AICPA Paychex Partner Program. Payroll, retirement services and more!

Using the Client Engagement Letter to Avoid CPA Malpractice Claims
by Jason Rosenthal, Esq. and Robert Palmersheim, JD
Malpractice suits against accountants are on the rise. Avoiding claims starts — and often ends — with the engagement letter.

Internet Telephone Services for Individuals and Small Businesses
by Steven Oster/Journal of Accountancy
Voice over Internet Protocol (VoIP) and other landline replacement services offer an array of communication benefits and options that can save you and your company money.

Economic Outlay Revisited
by Greg Porcaro and Hughlene Burton/The Tax Adviser
The economic outlay doctrine is a barrier for S corporation shareholders attempting to create debt basis. While not impenetrable, it requires analysis and forethought for the shareholders to break through.

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Weekly Spotlight

Five Potential Deal-Breakers
by Tracy Crevar Warren
Strategies on how to avoid them.

OCR outsourcing tax workflow. Reduce preparation time and take your practice paperless. Up to 50% off in May. SurePrep. Your tax preparation partner. Click here for more information:

Online Payroll Doubled the Revenue for My Accounting Practice
Sponsored by PayCycle
I started a small tax and accounting practice. I didn’t offer payroll though, and that was something my clients expected me to have.

Economic Uncertainty Demands Savvy Expense Management
Sponsored by Paychex
Learn how to manage rising healthcare costs through Section 125 plans, improve cash-flow with streamlined workers’ compensation and why a 401(k) may be the best retirement solution even in this economy.

CPAs Need to Be Ready for a New Boom
Sponsored by SurePrep LLC
SurePrep CEO sees outsourcing and technology combining for
breakthrough productivity.

Sharing ‘Better Practices’ for Sustained Growth
Sponsored by XCM Solutions
Learn how Fuoco Group’s progressive approach to technology adoption helped fuel its rapid growth as one of the region’s leading accounting and consulting firms.

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New and Noteworthy

Economic Crisis: Scouring Your Balance Sheet
Experts divulge how to convert assets to cash, collateralize finance with assets, access alternate financing sources and more. May 19

Biggest Changes in SSARSs Since 1978 Proposed

Comments due July 31 on Proposed SSARSs that would permit expression of a review conclusion on financial statements when certain nonattest services are performed and harmonize with international
review standard.

FASB’s GAAP Codification on July 1: All the Same and
Entirely Different

With the Financial Accounting Standards Board’s Accounting Standards Codification™, GAAP stays the same but its presentation completely changes. Will you be ready? Visit the AICPA's dedicated Web site
for information.

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New in the CPA2Biz Store

Write a Product Review and You Could Receive an iPod™ Touch …
Review any publication or CPE course you have used. It’s easy. But hurry. Deadline is July 31, 2009. Learn more.

Kess on 2009 Tax Legislation: Economic Stimulus Act
On-Demand format now available for immediate online access
AICPA and CCH have joined forces with top tax expert Sid Kess for a straightforward yet comprehensive look at the new legislation. Earn up to eight CPE credits.

Current Economic Crisis: Accounting Issues and Risks for Financial Management and Reporting, 2009 — Financial Reporting Alert
Achieve a more robust understanding of the economic and business environment in which your entity operates and find an important tool in helping you identify the significant risks that may result in the material misstatement of your entity's financial statements.

Auditing for Internal Fraud — Updated
This self-study course provides an auditor with the tools to identify fraud schemes and illustrates the latest in fraud prevention and detection programs implemented by industry leaders. Earn 12 CPE credits.

Codification of Statements on Auditing Standards, 2009
This essential reference for auditors of nonpublic companies is fully updated as of January 2009.

Didn't find what you were looking for? Visit the AICPA Store.

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Breaking News! Accounting & Compliance Alert: Private Company Accounting & Auditing Update Only on Checkpoint.From Thomson Reuters.

Online payroll for CPAs. Get 2 months free! From PayCycle. Click here:

This Week's Best Sellers

IFRS Digest: What U.S. Practitioners and Entities Need to Know Now

Advising Clients in Tough Times

Are You Ready for IFRS? Moving Beyond the Basics

Guidance on Monitoring Internal Control Systems (2009)

Sponsored Links
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Economic Uncertainty Demands Savvy Expense Management
Paychex can help CPAs’ clients reduce costs and save money.

Take Your Tax Practice Paperless
And reduce your preparation time by 40 percent or more with SurePrep.

Breaking News!
Accounting and compliance alert: Private Company Accounting & Auditing Update only on Checkpoint®.

Online Payroll for CPAs
Two months free from PayCycle, America’s #1 online payroll service.

Career Resources
AICPA Conferences
AICPA Fair Value
Measurement Conference

6/8 - 6/9, Chicago, IL
National Not-For-Profit
Industry Conference

6/11 - 6/12, Washington, DC
AICPA TECH+ Conference
6/15 - 6/17, Las Vegas, NV
See Full Conferences Calendar
AICPA Webcasts
5/19 - Economic Crisis: Scouring Your Balance Sheet
5/20 - Business Process — What Is It and Why Do You Care?
5/21 - Enterprise Risk Management: Rising Expectations

Receive Special savings & offers at more than 60 participating hotels
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for AICPA Members!

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Now thru 5/31 Members can save up
to 39 percent off select Notebooks
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Shipping on all web orders!   
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Receive a free cost analysis and see how much your practice can save. Enroll today and receive a
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View More AICPA Member Elite Values


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