Jim Ulvog

Pendulum swings in how we use computers

Leave a Comment / Pondering /

The swinging of a pendulum is a great word picture for describing change.   Especially helps for explaining shifts in computing power.  The pendulum swung from dumb terminals to personal computers and now to ‘the cloud’.

I mention this in a post at my other blog, Outrun Change:  The computing pendulum has swung back to dumb terminals and service bureaus – will it swing back?

There I discuss and link to a post by John Bredehoft.

By the way, my ponderings about the change taking place around us are posted on the other blog.  That leaves this blog focused on attestation issues.

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Reflections on the zero cost and inconsequential time to deliver a 2,500 page book.

Leave a Comment / Pondering /

Delivering books in PDF format is old news.

Today I looked at the process anew and laughed in marvel at the simplicity, low-cost, and blinding speed of doing so. Posted my thoughts on my other blog Outrun Change at: It’s a blast being alive today, or, isn’t technology cool?

Reflections on the zero cost and inconsequential time to deliver a 2,500 page book. Read More »

Reminders for your 12-11 audits – Part 1

Leave a Comment / Accounting /

Here are a few reminders as you are auditing December 2011 financial statements.  These comments will be very summarized.  They’re in plain English instead of formal accountantese.  If you see something here that applies to your clients or is brand new information for you, check out the authoritative literature.

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Reminders for your 12-11 audits – Part 1Read More »

Reminders for your 12-11 audits – Part 1 Read More »

NPOs should disclose open tax years – TIS 5250.15

1 Comment / Accounting /

Oops!  Amazing the trivia one can learn when reading the Not-for-profit audit risk alert.  Realized the following idea isn’t the only thing I missed after reading the risk alert.  (Aha, the point of constant learning is to figure out what you missed and fill in the gaps!)

TIS 5250.15 says that NPOs without any uncertain tax positions under FIN 48 still have to disclose open tax years in the same way as for-profit organizations.  That TIS is not available on-line so I can’t provide a link to an authoritative source.  And yes, I know that FIN 48 is actually now found in ASC 740-10, but FIN 48 registers in my brain easier that ASC 740-10.

So, if you have an NPO client, there should be something along the lines of the following comment from ASC 740-10-55-217: …

NPOs should disclose open tax years – TIS 5250.15Read More »

NPOs should disclose open tax years – TIS 5250.15 Read More »

I have lots of servants helping in my home and business

Leave a Comment / Economics /

After reading some comments in Russell Roberts’ book, The Price of Everything, I realized that I have a lot of servants hard at work in my home.  I have a huge number of servants working in my business.

See a partial list of servants who are hard at work at my other blog, Outrun Change:  I Have Dozens of Servants in My Home and Business.

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I have lots of servants helping in my home and businessRead More »

I have lots of servants helping in my home and business Read More »

Can’t find anything in the accounting world to blog about? Are you kidding me?

2 Comments / Other stuff /

Nothing to write about in accounting.  You’re pulling my leg, right?

Looks like an all-hands conversation is brewing on the topic of why there are not more accounting professors who blog.

Survey of the current discussion by David Albrecht is at More on Why Accounting Profs Don’t Blog.  I will extend the discussion to ask why are there so few posts from accounting practitioners who are blogging.

One of several threads in the discussion amongst the profs is there’s not a lot of interesting stuff to talk about.

That idea gave me a chuckle yesterday while attending an 8-hour accounting and auditing conference put on by the California Society of CPAs.

While jotting down notes from the speakers, I put an asterisk by ideas that seemed to be a possible blog post.  At the end of the day I had 32 asterisks plus an outline for this post.

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Can’t find anything in the accounting world to blog about? Are you kidding me?Read More »

Can’t find anything in the accounting world to blog about? Are you kidding me? Read More »

AICPA is not amused with ‘little gaap’ body being a subsidiary of FASB

2 Comments / Accounting /

(title of post changed from AICPA is not abused to AICPA is not amused.  Sorry!)

I mentioned earlier that the FAF, parent of FASB, wants to set up a group that would carve out portions of GAAP that did not apply to private companies. Problem with this deal is that all changes would have to be approved by FASB.  That means PCSIC would be a subsidiary or subcommittee of FASB.

The AICPA is not amused.

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AICPA is not amused with ‘little gaap’ body being a subsidiary of FASBRead More »

AICPA is not amused with ‘little gaap’ body being a subsidiary of FASB Read More »

Three minute grammar lesson

Leave a Comment / Other stuff /

Short, simple lesson of frequently goofed grammar rules at AmEx’s Open Forum by Barry Moltz:  Avoid These Simple Grammar Goofs in Your Business Marketing.  Also works for your emails or documentation memos or letters to clients.

Ten common mistakes.  Check it out.  Good reminders for me and it cleared up a couple fuzzy rules. 

The affect is you’re writing would be better.

(Sorry! I couldn’t pass up using three of the errors mentioned in the post.)

Three minute grammar lesson Read More »

If you are in business, you should be familiar with these writers

Leave a Comment / Books you might enjoy, Pondering /

A few weeks ago I attended the Dave Ramsey Live! event in Long Beach.  Here is just one of the many great comments he had:

If you are in business, you should be reading these three authors:

  • Jim Collins
  • Seth Godin
  • Malcolm Gladwell

I wholeheartedly agree.

I have read all of the following books and heartily endorse them. If you want to grow and learn and stretch your brain, dive in anywhere!  Here’s a few titles to check out: …

If you are in business, you should be familiar with these writersRead More »

If you are in business, you should be familiar with these writers Read More »

Entire body of GAAS has been replaced (except for 8 SASs)

1 Comment / Audits /

SAS 122 has been issued by the Auditing Standards Board. That document replaces every one of the current SASs, except for numbers 51, 59, 65, 87, 117, 118, 119, and 120.

The clarified SASs, all 39 of them, will go into effect for your audits of 12-31-12 financial statements (okay, okay, the technical cutoff is financial statements ending on or after 12-15-12).

That means for your audits in 2013, you will have to be up to speed on the new SASs in the new-and-improved GAAS body of knowledge.

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Entire body of GAAS has been replaced (except for 8 SASs)Read More »

Entire body of GAAS has been replaced (except for 8 SASs) Read More »

New Audit Risk Alerts are available

Leave a Comment / Audits, Books you might enjoy /

Just noticed today the new General Audit Risk Alert is available.  If you are an auditor this is something you should be reading every year.  (If your firm doesn’t provide you a copy, go get one yourself.  You are in charge of your professional growth.)

Here is a link and the full title: General Accounting and Auditing Developments – – 2011/2012 Audit Risk Alert.

Might be worth getting the hot-off-the-press risk alert.  Order it now and you could read it in November to incorporate into planning during December for audits in January and February.  …

New Audit Risk Alerts are availableRead More »

New Audit Risk Alerts are available Read More »

Two overlapping recessions?

Leave a Comment / Pondering /

We may be in two simultaneous, overlapping recessions.  One will go away, but the other won’t.

I have two posts at my other blog, Outrun Change, discussing this idea of overlapping recessions:

I’m trying to move my discussions of massive change in the economy and the work world to my other blog.

Two overlapping recessions? Read More »