The world of mutual funds: informed CPAs can help clients make better investment decisions. (includes definitions of mutual fund types and directory of mutual fund information services)

A great deal of information is available to clients considering investing in mutual funds, and accountants can assist clients in understanding investment alternatives and income tax implications. Selecting a mutual fund or a portfolio of funds requires assessing personal investment objectives as well as assessing the risk and income trade-offs of various funds. Analyzing the past performance of funds, particularly during adverse circumstances, is particularly important. Clients must also be aware that gains and losses must be reported and that sale of shares are generally taxable.