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December 26, 2012
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  Top Story 
  • Gridlock in "fiscal cliff" talks creates more uncertainty for business
    With the "fiscal cliff" fast approaching, delays in an agreement that would prevent $500 billion in tax increases and spending cuts from taking effect Jan. 1 have caused uncertainty for businesses and may produce an economic slowdown even if Congress acts. "We're all sitting on the sidelines right now wondering what's going to happen to us," says John Odland, chief financial officer at MacMillan-Piper, a Seattle freight-transport company. The Wall Street Journal (12/25) LinkedInFacebookTwitterEmail this Story
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  Financial Focus 
  • Car sales set to grow in U.S., China and India in 2013
    2013 is likely to be a good year for car sales in the U.S., China and India, according to The Economist, quoting data from the research firm IHS. Elsewhere in the world, sales likely will slow down. "Although some European car factories face closure, elsewhere assembly lines are being built at a rapid clip," the magazine notes. "So once again worldwide car production, at 82.8m, will exceed sales, at 81.9m." The Economist (12/22) LinkedInFacebookTwitterEmail this Story

  A&A Report 
  Tax Spotlight 
  • State tax compliance becoming more difficult for mobile employees
    With society becoming more mobile and employees traveling for business more frequently, uniform standards for state taxation of nonresident employee income and employer withholding on that income become more and more important. The article explains the issues involved and the status of federal efforts to provide relief in this area for small businesses and employees who currently must comply with a large number of varying requirements. The Tax Adviser (12/2012) LinkedInFacebookTwitterEmail this Story
  • Other News
  Market Update 
  • Dealers hoard Treasurys as "fiscal cliff" looms
    Bond dealers have lowered the bonds offered to the Federal Reserve to an average of $8.04 billion per day over the past two weeks -- down from $11.6 billion in September 2011. Demand is growing for U.S. government debt safety as Congress struggles to put together a "fiscal cliff" plan. According to a Bloomberg survey of analysts, 10-year rates will grow to 1.88% by the end of June 2013 and 2.17% by the end of next year. Bloomberg (12/24) LinkedInFacebookTwitterEmail this Story
  Policy & Regulatory 
  • SEC preps high-tech system that gives it real-time trading data
    The Securities and Exchange Commission is testing software for a system that will give it, for the first time, direct access to real-time data on what's going on in the U.S. securities markets. The technology, which will cost the regulator about $2.5 million for the first year, is scheduled to go into full operation early in 2013. The Washington Post (12/24) LinkedInFacebookTwitterEmail this Story
  International View 
  • Japanese yen falls to lowest value of 2012 against U.S. dollar
    The decline of Japan's yen against the U.S. dollar accelerated after the release of Bank of Japan minutes showed support among the central bank's policymakers for driving down the value of Japan's currency. The yen fell to its lowest value against the dollar this year. MarketWatch (12/25) LinkedInFacebookTwitterEmail this Story
  Leadership & Trends 
  AICPA News 
  • Happy New Year from the AICPA
    Share your best wishes and holiday greetings with colleagues on this special New Year cheer webpage. You can also watch a special New Year message from the AICPA and listen to highlights of 2012 from AICPA President and CEO Barry Melancon, CPA, CGMA. LinkedInFacebookTwitterEmail this Story
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--Magdalen Nabb,
British author

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The American Institute of Certified Public Accountants is the world’s largest association representing the accounting profession, with nearly 386,000 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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