| A.
R. Kakhsaz Company
an accountancy corporation
Member
American Institute of
Certified Public Accountants
International associates:
Tavana & Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221
|
Boosted IRS budget: President Bush asked for,
and congress approved the IRS's budget of a record $10.7 billion, up from
$10.2 billion of last year. The budget reflects an 8% increase in
enforcement, a 2% decrease in systems modernization and a 1% decrease in
taxpayer service.
Persian language,
Farsi, is the third most commonly used language on the Internet, after
English and Chinese. Some 150,000 Iranian professionals leave Iran
each year. That's one of the highest rates of brain drain in the
Middle East.
Event planners Oscars?
Corporate parties and product launches have grown so lavish
that event planners now have their own Oscars. The best-tent affair
was celebrated in mid April in Manhattan at BisBash Media's third annual
Event Style Awards, along with 15 other categories, such as Best Food
Presentation and Best Gift Bag. The suspense was unbearable: Would
the award for Best Use of a Tent go to EventQuest Inc. for a Mercedes
promotion or Mathew David Events for the New York Central Park
Conservancy's Holloween party? ".. And the . award . goes .
to...EventQuest!"
IRS
Commissioner, Mark Everson, says his dog usually gives him plenty of
attention, but "sort of ignoring me" earlier this year during
the tax-filing season. My wife said: "See this time of year,
nobody loves you."
At a recent meeting
of the President's Advisory Panel on federal tax reform, a former head of
the IRS described today's tax system as "grotesquely
complicated" and in urgent need of a major overhaul.
You are from California if
(Part 5 of
7)
It's barely
raining and there's a "storm
watch" report on
every news station,
You have to leave the big
company meeting
early because Billy
Blanks himself is
teaching the 4pm to Tao
bo class, and
You can't remember ... Is pot
legal?
For more of the Generalist, please visit our website
at ARKCPACOM.
|
theGeneralist, a one-page monthly
publication of the accounting firm of A. R. Kakhsaz Company,
is in its 11th year of providing information, presented fairly and
accurately, from sources we can depend upon and trust.
Why should GAAP be
the same for big and small
businesses? Though 99.7% of the U.S. 4.9 million corporations
are privately held, a good deal of the U.S. generally accepted
accounting principles, or GAAP, are primarily relevant to the
financial conditions of public companies traded on equities
markets. For years there has been a call by CPAs for some kind
of "big GAAP-little GAAP" system that would ease
requirements for smaller, non-public companies to result in reduced
complexities and costs of services to small businesses. One of
the biggest fundamental differences between public and private
companies is in the nature and intentions of their owners.
While public company owners can easily sell off their shares on the
equities markets, and often tend to do so, the owners of private
companies tend to own their companies for a long time, seeing
themselves as long-term stewards rather than investors looking for
short-term valuation.
Nearly 57 years ago, Israel's
military, called the Israel Defense Forces of IDF, was established
to protect the state. Founded on the principles of secular
Zionism, the military draws the bulk of its troops from mandatory
draft and services as a melting pot for a country of
immigrants. From a band of ragtag fighters the IDF has
developed into a Middle East's most-feared fighting force. Now
after decades of unifying Israel, the IDF must carry out an order
that could split it. "We will cry and hug" the
settlers of Gaza's 21 Jewish settlements. "But we will
evacuate them, period.," said Major General Dan Harel, head of
the IDF's southern command. The evacuation is scheduled for
sometime in July and August.
We see more in numbers
than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
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