BBB Warns of Scams

The Better Business Bureau of Greater Arizona today issued warnings on two types of scams that have been identified in Arizona. The first scam is targeting homeowners who are having difficulties keeping current with their mortgage payments. Consumers are receiving offers to assist them with mortgage loan modifications and the offers are often “Too good [...]

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5 Ingredients of an Ideal Credit Score

Many of us wonder about how credit scores are compiled. I got the following information from Mick Bernand of Credit Strategies: “A lot of consumers have the mindset that making payments on time automatically equates to a good credit score.  This couldn’t be further from the truth.  Paying your bills on time is an important [...]

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AICPA Tax Section E-Alerts Now Audio

The AICPA has begin posting audio tax programs online, with two already in place. The programs will be dealing with current tax matters, generally linked to the AICPA Tax Section’s E-Alerts that are sent to Tax Section members. However, listeners are not required to be Tax Section members (though only the members get the email [...]

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Let’s add IFRS to the CPA Exam

Since the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) are moving towards International Financial Reporting Standards (IFRS) it is necessary to ask if the AICPA should add a section or two on IFRS and expand the CPA exam to cover the new standards. An argument could be made to maintain [...]

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Debt Collection

During this economic crisis, with the highest unemployment rates in decades, many consumers are having trouble paying their debts. There is a federal statute that protects consumers from overzealous debt collectors. The Fair Debt Collection Practices Act proscribes limitations on what actions a debt collector can take to collect a past due amount. For example [...]

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What is Forensic Accounting?

I am often asked what a Certified Forensic Accountant does and was recently asked if a Forensic Accountant does taxes for dead people. Forensics can be applied across many careers and unlike the forensic experts seen on TV in shows such as CSI, a Forensic Accountant does not have a laboratory, go digging in cemeteries, [...]

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High Yields Available on Property Tax Liens

On Monday, February 9, 2009, Maricopa County will hold its annual tax lien sale. This sale is for unpaid property taxes from 2007. The County has an estimated $47.5 million dollars in unpaid taxes to auction off on over 34,000 parcels of land. State law requires that investors bid on the tax liens with interest [...]

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Financial Statement Presentation

The Financial Accounting Standards Board (FASB) announced an upcoming webcast to discuss the recently issued Discussion Paper, Preliminary Views on Financial Statement Presentation (issued 10/16/08).The webcast is scheduled for Tuesday, January 27, 2009 from 9:00 to 10:00 AM Arizona time. The live webcast is offered free of charge and no CPE credit is offered for [...]

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In a tough economy, firms concentrate on building loyalty

The Dallas Morning News January 19, 2009 ABSTRACT The customer is king. If companies want to avoid being swallowed by the economic crisis, that’s what they need to realize, says Gal Borenstein, customer service strategist and author of What Really Counts for CEOs: Connect the Dots Between Marketing & Sales. Customer service is resurging as [...]

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Tax Refunds to be Withheld

CNN reported on January 16th, 2009 that “California Withholds Tax Refunds“. According to CNN “California will not pay tax refunds for individuals and business that overpaid 2008 taxes, in order to conserve dwindling cash for priority payments including school spending and debt repayment required by state law, the state’s controller office said Friday.” This action [...]

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