Accounting for 2003: The year in review
Accounting developments in 2003 include major tax law changes, tightened internal controls and cutting-edge best practices. Here are highlights of the year's top accounting and business headlines.
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Rolling Hills or Big Apple? Which college environment is right for you?
As if deciding whether you’d prefer private or public, small or large, liberal arts or pre-professional isn’t enough, you must also consider one very important factor that will undoubtedly affect your college experience: location, location, location!
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Need clues to George Clooney?
Visit Web sites for more than 15,000 actors, actresses, musicians, supermodels, movie stars, athletes and comedians. Also buy celebrity products such as posters and T-shirts.
www.bigcelebrities.com
Accountants becoming financial planners
More and more CPAs are doubling up on their certifications. Find out why.
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CPA = opportunity
A real estate company's founders parlayed CPA experience into a successful business of their own.
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Stealing the 'A'
A high GPA and strenuous study habits are no protection against the temptation to cheat. Good students cheat, too.
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Study accounting in college!
For a list of Maryland colleges and universities with accounting programs and Maryland community colleges with accounting courses, go to:
www.tomorrowscpa.org/highschool/college.html
Accounting word of the week: M
Matching principle: A fundamental concept of accounting. In any one given accounting period, you should try to match the revenue you are reporting with the expenses it took to generate that revenue in the same time period, or over the periods in which you will be receiving benefits from that expenditure. A simple example is depreciation expense. If you buy a building that will last for many years, you don't write off the cost of that building all at once. Instead, you take depreciation deductions over the building's estimated useful life. Thus, you've "matched" the expense, or cost, of the building with the benefits it produces, over the course of the years it will be in service. Find more definitions here:
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Catch the bad guys!
Follow the money to catch the crooks in the new forensic accounting game, "Catch Me if You Can."
www.startheregoplaces.com
Another semester, another opportunity
So far this year, our CPA speakers have visited nearly 40 Maryland high schools and reached more than 1,650 students. Let's top that record in spring 2004. Tell your business or accounting teacher, or your school career counselor, that you want to learn more about the CPA career. Have them contact Richard Rabicoff at (800) 782-2036 or publicrelations@macpa.org.
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