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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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Human Resources

4 in 10 Workers Don't Use All Their Vacation Days

As summer approaches, employees are busy planning long-awaited vacations. But a new Robert Half survey shows 39 percent of workers won't use all the paid vacation time they're given. The reasons: 38 percent are saving days in case they need them later, while 30 percent fear falling behind at work.

Accounting

Report: Businesses Losing 5% of Revenue to Fraud

Organizations around the world lose an estimated five percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2012 and December 2013. Applied to the estimated 2013 Gross World Product, this figure translates to a potential total fraud loss of more than $3.5 trillion (U.S.).

Income Tax

AICPA Says IRS Voluntary Preparer Regulation System Doesn't Protect Taxpayers

The nation's largest professional association for accounting professionals, the American Institute of CPAs (AICPA), has come out opposed to the new voluntary tax return preparer regulation program that the Internal Revenue Service (IRS) is planning.

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Accounting

KPMG Inside Trader to Give CPE Webcast on Ethics Before Going to Prison

Scott London, former senior partner at KPMG, will be the guest in a CPE-eligible webcast on accounting ethics. The event, scheduled for June 25, will be hosted by former NASBA chair Gaylen Hansen.

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Accounting

Book Challenges Accountants to Be True Entrepreneurs

How does an accounting professional go from being a client service provider to an integral advisor and successful leader? The latest book by accounting thought leader Darren Root explains how he did it.

Accounting

AICPA Supports Effort in Congress to Enhance Financial Transparency Act

The nation's largest association of accounting professionals, the American Institute of Certified Public Accountants (AICPA), is commending Congress for recent efforts to strengthen the pending Federal Financial Statement Transparency Act.

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Accounting

Small Business Optimism Increases, But Uncertainty Persists

Small business optimism increased in April, according to the National Federation of Independent Businesses. The group's April index rose 1.8 points to a post-recession high of 95.2. The economy continues to perform modestly and April’s index followed suit as it crossed the 95 marker for the first time since 2007. Seven Index components improved, one was unchanged and 2 fell.

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Advisory

AICPA Honors Non-Accountant with Highest Award

The AICPA Medal of Honor recognizes an individual who is not a CPA whose work has had a significant impact on the profession. The Medal of Honor is the highest AICPA award for a non-CPA.

Income Tax

IRS Gives Up On Tax Preparer Licensing, RTRP Lawsuit

For many years, states and local governments have been trying to rein in unlicensed income tax preparers, and the Internal Revenue Service joined a few years ago with the idea of a national testing and regulatory system that the agency would oversee. So, it created one.

Payroll

The Friendliest Cities for Small Business Workers

Small businesses employ about 47% of non-government workers in the U.S., pay more than 40 percent of the private payroll, and create more than 60 percent of the new jobs added over the past 20 years, according to the U.S. Small Business Administration. However, not all states and cities are the same when it comes to how small businesses pay their employees, along with other benefits.

Income Tax

IRS Still Improperly Handling EITC Payments

The Earned Income Tax Credit (EITC) is one of the most widely-used credits by U.S. taxpayers, it's also often mis-used and even thought the Internal Revenue Service has been scolded for its poor management of the EITC, the agency is still lacking.

Accounting

IASB Issues Amendments to Property, Plant and Intangible Asset Accounting Standards

The IASB has clarified that the use of revenue-based methods to calculate the depreciation of an asset is not appropriate because revenue generated by an activity that includes the use of an asset generally reflects factors other than the consumption of the economic benefits embodied in the asset.