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July 11, 2012
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ADD REVENUE, NOT WORKLOAD
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  Financial Focus 
 
  • U.S. job openings rebounded in May
    The U.S. Labor Department said unfilled positions increased 195,000 in May, to 3.64 million, after decreasing 294,000 in April. Manufacturers and state and local government agencies led the increase. Bloomberg (7/10) LinkedInFacebookTwitterEmail this Story
  • U.S. companies make liquidity a top priority, survey finds
    Higher operating cash flows were among the reasons for an increase in spare cash on U.S. companies' balance sheets during the first quarter of 2012, according to a survey by the Association for Financial Professionals. About 40% of companies reported an increase in cash reserves between the first quarter of 2011 and 2012. CFO.com (7/10) LinkedInFacebookTwitterEmail this Story
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  A&A Report 
  • GASB eyes accounting for retiree health care plans next
    The Governmental Accounting Standards Board's change to the pension accounting standards for state and local pension funds was praised by the AICPA and investors. Public employees, however, worry that the rules will lead to more cutbacks in pension benefits. Despite the complaints, GASB is pushing forward with other changes, such as new accounting standards for retiree health care plans. Reuters (7/10) LinkedInFacebookTwitterEmail this Story
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  Tax Spotlight 
  • Planning opportunities with the new portable estate tax exclusion
    The 2010 Tax Relief Act made the estate tax exclusion portable between spouses, meaning that the surviving spouse can get the benefit of the deceased spouse'’s unused exclusion amount if the deceased spouse's estate makes the proper election. Portability opens up planning opportunities that didn’'t exist before, but also contains potential pitfalls. This article explores the new rules and the consequences of not making the election. Journal of Accountancy (7/2012) LinkedInFacebookTwitterEmail this Story
  Policy & Regulatory 
  • SEC will consider adopting consolidated audit trail
    The Securities and Exchange Commission is expected to vote on a comprehensive system for monitoring order and trading data across equity and options markets. The system, known as the consolidated audit trail, was proposed weeks after the May 6, 2010, flash crash. It is intended to help authorities analyze trading and reconstruct market crises. Bloomberg (7/10) LinkedInFacebookTwitterEmail this Story
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  Leadership & Trends 
  AICPA News 
  • Tomorrow: COSO's Internal Control - Integrated Framework: Explained
      
    The Committee of Sponsoring Organizations of the Treadway Commission released the updated Internal Control - Integrated Framework Exposure Draft for public comment late-2011. The comment period for the exposure draft ended on March 31. In this webinar, COSO's Internal Control - Integrated Framework Exposure Draft: Explained, to be held 2 p.m. to 3 p.m. ET tomorrow, experts will cover the project overview, proposed changes and impacts, and address any questions. Register today. LinkedInFacebookTwitterEmail this Story

  • Free webinar: Learn how to build your PFP practice
      
    In this strategic session, Implementing a PFP Practice: An In-Depth Review of Six Business Models, to be held 1 p.m. to 3:05 p.m. ET tomorrow, a panel of successful CPAs in the most common business models will share the nuts and bolts of how they have built their practices to provide the highest value for their clients while also running a successful business. This webinar is free without CPE to all. CPE is available for a fee, which has been discounted for PFP/PFS and Tax members. Register now. LinkedInFacebookTwitterEmail this Story

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The American Institute of Certified Public Accountants is the world’s largest association representing the accounting profession, with nearly 377,000 members in 128 countries and a 125 year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation to elevate management accounting globally.

 
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