CPAnet Clippings on NewsGator Online

Speed Bumps for Early XBRL Filers, Users

Thu, 02 Jul 2009 17:01:00 GMT

FASB is close to overcoming a mismatch between its new codification of accounting standards and data-tagged financials that could have presented communications problems for CFOs.

Financial Reform: New Foundation, Walls Intact

Tue, 23 Jun 2009 19:00:00 GMT

The president's financial overhaul is a curious mix of audacity and timidity.

Credit-default Swaps and Bankruptcy: No Empty Threat

Tue, 23 Jun 2009 19:00:00 GMT

CDSs are pitting firms against their own creditors.

KPMG Should Be Tougher on Testing, PCAOB Finds

Tue, 23 Jun 2009 19:00:00 GMT

The Big Four audit firm was cited for not ramping up its tests of some clients' assumptions and internal controls.

Another Fair Value Rule Tweak Is in the Works

Tue, 23 Jun 2009 19:00:00 GMT

This time, FASB is hoping to clarify the rules on valuing "alternative" investment vehicles.

Small Favors: GM Bankruptcy Could Mean Tax Boon

Fri, 29 May 2009 20:00:00 GMT

The company would have no limits on the amount of losses it could use to shave its taxable income, according to a report issued today.

IASB Proposes Its Own Fair-Value Rule

Fri, 29 May 2009 20:00:00 GMT

The international standard-setter presents its version of FAS 157, with just a few differences.

Should You Accept a Verbal Job Offer?

Cindy Kraft — Fri, 29 May 2009 15:37:40 GMT

Fistful of Talent is one of the blogs I regularly follow. Since it is written by thought-leaders in the recruiting industry, it helps me stay abreast of trends and ideas.

In a recent post, Jessica Lee, Senior Employment Manager for APCO Worldwide, wondered aloud why candidates were so skittish to accept a verbal job offer by a corporate (translation in-house) recruiter. Her thought process is admirable ... she obviously operates from a position of integrity and honesty. Her follow-up question near the end of the comments ...

The bigger question still for me is... as recruiters or hiring managers, why are you making job offers that aren't going to come through?

... I think confirms my assessment of her.

However, stuff happens. And in today’s economy, my advice as a career coach is to NEVER resign a position unless and until you have a written, signed offer that outlines every agreed-to detail.

Both the post and the comments are interesting, and a good read.

How Satyam Supported PwC’s Schizophrenic Strategy To Reenter The Systems Integration Business

Wed, 27 May 2009 05:58:29 GMT

Forgive my alliterative title. I was inspired by the best: Sonnet 30 When to the sessions of sweet silent thought I summon up remembrance of things past, I sigh the lack of many a thing I sought, And with old woes new wail my dear time's waste: Then can I drown an eye, unused to flow, For ...

Small Business in Europe: Humble but Nimble

Tue, 26 May 2009 15:00:00 GMT

Europe's smaller firms are coping fairly well with the recession, in spite of their banks' reluctance to increase lending.

It's Always the Right Time to Join an Association

Dona DeZube (noreply@blogger.com) — Mon, 11 May 2009 14:06:00 GMT

After spending years studying finance, auditing and budgeting, what should you do after graduation? In addition to finding a job, get out there and connect with the local chapter of a professional association, such as the Institute of Management Accountants (IMA).

Professional associations offer the chance to network with peers in the industry as well as stay on top of accounting trends. And if you don’t have a job yet, they can be a great source of job market information.

“Some graduates are hesitant to get involved with an association their first year out of school, but those who join see the benefits immediately,” Sandra B. Richtermeyer, Ph.D., CMA, CPA and incoming chair-elect of the IMA Board of Directors. “Meeting new contacts at various career stages can help graduates benchmark where they want to be in five to ten years.”

Those graduating in the next few years can get a head start in gaining experience by obtaining internships, getting involved on campus, or volunteering with nonprofit organizations. Most trade associations significantly discount dues for student members.

In addition, Richtermeyer suggests selecting a minor that complements studies in accounting, such as information technology. Acquiring foreign language skills or learning about entrepreneurship can also help students stand out from their peers.

Along with IMA, consider these accounting trade associations:

American College of Forensic Examiners

American Society of Woman Accountants

Association of Government Accountants

Association of Latino Professionals in Finance and Accounting

Institute of Internal Auditors

National Association of Black Accountants

National Society of Accountants

GAO: Cox's SEC Discouraged Corporate Punishment

Thu, 07 May 2009 18:00:00 GMT

A GAO report says SEC staff under former Chairman Christopher Cox felt discouraged by the Commission from pursuing corporate penalties or from issuing subpoenas to corporations.

SEC Top Cop Talks Tough

Thu, 07 May 2009 18:00:00 GMT

In testimony before a Senate Banking subcommittee, the SEC's new enforcement director suggests a return to the immediate post-Enron era of big corporate penalties.

Buffett says newspapers have no future

Mon, 04 May 2009 03:37:49 GMT

Back in 2007, Warren Buffett warned shareholders that newspapers were on the skids. In his letter at the time, Buffett said "the days of lush profits from our newspaper are over".The proble...

New SEC initiative will identify, assess risks in financial markets

editor@macpa.org — Mon, 04 May 2009 12:03:39 GMT

The SEC has announced a new effort to identify and assess risks in the financial markets by attracting industry professionals to the agency's Office of Risk Assessment.

Attack of the Penny Savers

Mon, 04 May 2009 15:07:00 GMT

Small companies don their creative cost-cutting caps to shore up cash reserves and ride out the downturn.

Study: Portfolios Bulging with Illiquid Assets

Thu, 30 Apr 2009 03:05:00 GMT

Is the surge just a matter of a change of perception stemming from the implementation of the FASB fair-value standard?

Bonus Depreciation Is the Tip of the Tax Iceberg

Thu, 30 Apr 2009 03:05:00 GMT

Tax managers will have their hands full working out bonus depreciation schedules, managing tight closes, and accounting for uncertain tax positions.

FEI: No Raises for 31% of Finance Execs

Thu, 30 Apr 2009 03:05:00 GMT

The survey also shows a dramatic shift from individual goals to EBITDA as the basis for measuring the performance of CFOs.

How to Think like the World's Greatest High-Tech Titans - Business Lessons from Bill Gates, Andy Grove, Carly Fiorina, Steve Jobs, Scott McNealy and other Titans of the High Tech World

Thu, 16 Apr 2009 20:20:01 GMT

In this summary you will learn:

How 16 computer and Internet industry leaders became successful
What the common thread that unites these leaders is

Why you should read How to Think like the World's Greatest High-Tech Titans
Erika Brown profiles 16 computer and Internet industry leaders in this informative and entertaining book. A senior reporter for Forbes, Brown brings a journalist’s insight to each profile and seeks to extract the ideas and strategies that made each of these over-achievers successful. She packs plenty of information into chunks that seem a bit short for a book, but are at least longer than today’s standard magazine profiles. Perhaps the most interesting aspect of her profiles is the way many of them reveal the dynamics between two powerful leaders at companies like Microsoft and Intel. getAbstract com recommends this book as a brief introduction to the men and women whom history will record as the titans of turn-of-the-century technology.

About the Author
Erika Brown is a senior reporter for Forbes, covering local business trends and Internet-related stories in Silicon Valley. She has also worked on the Forbes 400.