IRS updates accounting method procedures Taxpayers must obtain the IRS’s consent to change any of their accounting methods under Code Sec. 446(e). The IRS has updated and made changes to its revenue procedures for obtaining IRS consent...
AL - Job incentive bills pass house The Alabama House of Representatives has passed three bills from Gov. Robert Bentleyâ€™s Made in Alabama Jobs Incentive Package concerning corporate, personal, property, and sales and...
See "UPDATES/ ARTICLES" ABOVE Current Update from Washington Resource from the Forest Landowners' Tax Council
Public accounting is often referred to as, "the Language of Business." Indeed, the accounting and reporting practices of any company, large or small, are the means of communicating the company's status and activity to its various publics, such as the banking community, the federal, state and local governments, shareholder/owners, customers, creditors, insurers, etc. The relationship to a Public Accounting Firm should be built on the utmost trust, confidence and reliance.
A few critical questions are pertinent when a company is selecting an accounting firm. The answer to these and other probing questions test the firm's capabilities, integrity, objectivity and character:
• What level of experience has the firm attained?
• What is the firm’s standard for quality?
• What are the historical values of the firm?
• Who does the firm currently serve?
• What is the firm’s track record and longevity with its clients?
• What is the firm’s general relationship with the statutory and regulatory authorities?
• What is its attitude towards the professional development of its people?
• What is the firm’s commitment to the profession of Public Accounting?
The demands of American business have made Public Accounting the fastest growing profession in the United States today. The number of practitioners has approximately doubled every decade for the past forty years. The intellectual scope of the profession has advanced by comparable degrees. The reliance placed upon the independent opinion of the CPA is a cornerstone of the American Business integrity and credibility and the importance of tax and business planning is irrefutable. This website will introduce you to Lehmann, Ullman and Barclay LLP. We invite your inquiries and would be welcome to serve you.