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Review of Business

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Inherent and control risks of derivatives, hedging and securities investments: a primer.
Auditing Derivative Instruments, Hedging Activities and Investments in Securities (SAS No. 92) is chock-full of information and guidance for today's auditors looking to plan and perform auditing . . .

New Tax Act overhauls the transfer tax system without changing its complexity.
Congress has tinkered with transfer taxes for almost 50 years. On June 7, 2001 the President signed into law The Economic Growth and Tax Relief Reconciliation Act of 2001. The new law has far . . .

Education is the clear winner in the new Tax Act.
The enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRA) accomplished sweeping changes in the three tax regimes that impact individual taxpayers: income taxes, gift . . .

Marriage may soon become less "taxing": a look at laws that lower the marriage tax penalty.
Marriage may soon become less "taxing," thanks to key provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001, designed to alleviate the marriage tax penalty for joint . . .

Five reasons for parents to celebrate: introducing new tax benefits for kids.
The 2001 Tax Act (a.k.a., H.R.1836: The Economic Growth and Tax Relief Reconciliation Act of 2001) provides substantial tax relief with five new types of benefits specifically targeted to children. . . .

Federal tax policy in the making: 32 years to enact college tuition tax credits.
Congress has considered using college tuition tax credits as an instrument of social tax policy in the US. during three major legislative periods (1965, 1978 and 1997). In 1997, it did. This . . .

Guide to the Tax Act of 2001: the economic growth and Tax Relief Reconciliation Act of 2001.
The Tax Act of 2001 is a $1.35 trillion package that significantly overhauls the tax system over the next decade. Its provisions affect all individual taxpayers, and present an array of tax . . .

Activity-based costing: usage and pitfalls.
There are many variables that need to be considered when determining the type of costing system, such as ABC, that is best for an organization. It is the evaluating and balancing of these many . . .

The balanced scorecard and the accountant as a valued "strategic partner".
The role of accountants has changed. Where they used to perform only traditional functions, accountants are now becoming organizational strategic partners. The Balanced Scorecard, a management . . .

Revisiting bankruptcy rules and reorganization plans.
The September 11 terrorist attack on the World Trade Center and Pentagon left us with more than sorrow and fear: It caused many companies in a wide range of industries to go bankrupt. In these . . .

International financial reporting standards: Significance, acceptance, and new developments.
The international accounting standards board (IASB) has replaced the international accounting standards committee (IASC) as part of a comprehensive restructuring of the international . . .

The song is not the same. (Reader's Forum).(comment on past article about similarities between thrift crisis and credit union le
Introduction In the Summer 2001 issue of the Review of Business, an article appeared entitled 'The Song Remains the Same: Similarities Between the Thrift Crisis and Current Credit Union . . .

Accounting codes of conduct, violations and disciplinary actions.
Accountants provide valuable services and they are much sought after by both public and private entities for information and advice. This article explores the codes of conduct that work to keep . . .

Navigating the "information super highway": how accountants can help clients assess and control the risks of internet-based e-co
Internet based e-commerce is a relatively new frontier -- presenting as many opportunities as it does risks. The latter include theft, destruction, interception and alteration of financial data. . . .

Setting new standards for business combinations and intangible assets.
The business combination project undertaken by the Financial Accounting Standards Board evoked a lot of controversy. This article overviews an extensive due process and political struggle which . . .

Andersen: the evolution of a global professional services firm; an interview with Joseph Tarantino, Partner.(Andersen Consulting
Interviewed by: Ronald G. Caso, St. John's University, and Partner, Redmond Pollio & Caso, LLP with Maxine Brady, Business writer Overview Andersen is a global leader in professional . . .

From the editors.
The fields of accounting and taxation are vital to every enterprise and individual. Recently, many significant developments have affected accounting and taxation in the U.S. and in the . . .

Professors who make the grade.(factors that affect students' grades of professors)(Statistical Data Included)
What factors impact professors' scores on student teaching evaluations? Are faculty evaluation scores related to how much students learn? This paper shows what happens when students grade their . . .

The "next wave" in service-learning: integrative, team-based engagements with structural objectives.
This article introduces the "next wave" in service-learning: integrative, team-based projects that result in structural change for the "client" organization. It describes the characteristics of the . . .

Constructive discharge: when quitting constitutes illegal termination.
Employers looking to eliminate "problem employees" may take actions that put their company at risk. An employee who quits may still claim that his/her employer made working conditions . . .

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