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November 6, 2012
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  Top Story 
  • Election won't end uncertainty
    Uncertainty is widely given as the reason the U.S. can't produce a robust economic recovery, but the result of the presidential election won't do away with that uncertainty, Andrew Ross Sorkin writes. The growing consensus in Washington, D.C., is that Congress will head off the "fiscal cliff" by delaying all the tough decisions on taxes and spending, possibly until the fall of 2013, giving the nation another year of uncertainty, he wrote. The New York Times (tiered subscription model)/DealBook blog (11/5) LinkedInFacebookTwitterEmail this Story

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  Financial Focus 
  • Young workers' prospects for retirement darken
    Public and private employers increasingly are reducing pension benefits, a trend that is hitting young workers harder than their older colleagues. The situation leaves the next generation's retirees with a bleak future. Many companies are making severe cuts for new hires to preserve benefits for existing employees. The Washington Post (11/5) LinkedInFacebookTwitterEmail this Story
  • Other News
New Webinar: Preparing for a secure future for you and your employees... Join us Tuesday, Nov. 13 @ 2pm ET for a free webinar that will share findings from a recent firm-based member retirement survey. You'll also learn the advantages and risks of developing a retirement plan for your firm, the pros and cons of IRAs, 401K, SIMPLE IRA, SEP and more. > Register Now
  A&A Report 
  • G-20 tells IASB, FASB to set a deadline for convergence
    Leaders of the world's top 20 economies are not giving up on accounting convergence. The Group of 20 has set a mid-2013 deadline for the International Accounting Standards Board and the Financial Accounting Standards Board to establish a specific timetable to complete their convergence projects. Reuters (11/5) LinkedInFacebookTwitterEmail this Story
  • Accounting rules may force U.K. banks to raise more capital
    U.K. banks will have to raise significant amounts of capital because of recent stress tests and accounting rules expected to go into effect next year. The rules will govern when banks take losses for loans on their balance sheets. The stress-testing found U.K. banks' loan-loss provisions will have to rise between 30% and 100%, depending on the institution, to meet the new rules. The Telegraph (London) (tiered subscription model) (11/3) LinkedInFacebookTwitterEmail this Story
  Tax Spotlight 
  • State tax trend: Market-based sourcing to apportion sales of services
    Some states are moving away from the traditional cost-of-performance rule for sourcing sales of services and adopting market-based sourcing, but the rules can vary widely from state to state. Michael Schadewald, CPA, takes a state-by-state look at issues that arise in applying market-based sourcing rules and looks at how those rules work in the states that have adopted them. The Tax Adviser (11/2012) LinkedInFacebookTwitterEmail this Story
  Market Update 
  • Government-bond markets land on positive ground
    All 26 government-bond markets monitored by Bloomberg and the European Federation of Financial Analysts Societies are producing positive annual returns for the first time since 2008. The development comes amid strong demand for government debt. "The longer-term bull market in government bonds is still intact all over the world," said Howard Simons, a strategist at Bianco Research. Bloomberg (11/5) LinkedInFacebookTwitterEmail this Story
  Policy & Regulatory 
  • Regulators begin to ease up on rule changes
    With clarity increasing among regulators regarding possible consequences of wholesale rule changes in Europe, authorities are beginning to soften their positions, industry observers say. "We have seen a degree of relaxation in liquidity standards imposed on banks," said Bob Penn, a regulatory partner at Allen & Overy. "There will be greater political intervention to meet political goals around economic growth, and that will involve laying off capital and liquidity regulations." Financial News Online (U.K.) (subscription required) (11/5) LinkedInFacebookTwitterEmail this Story
  International View 
  Leadership & Trends 
  • Technology "big four" set to change accounting game, top exec says
    Emerging technologies such as cloud computing, mobile devices, social media and Big Data tools are radically reshaping how accounting firms view technology, an executive with CCH parent Wolters Kluwer told attendees at the annual CCH users' conference. In what he called a tipping point, Kevin Robert said firms now see technology first and foremost as a way to bolster client service and relationships. Journal of Accountancy (11/2012) LinkedInFacebookTwitterEmail this Story
  AICPA News 
  • Learn how to deepen client relationships through communication
    For the first time at the January AICPA Advanced PFP Conference, there will be a pre-conference workshop for emerging CPA financial planners with a focus on deepening client relationships through communication, The Next Generation Advisor: An Interactive Case Study Approach to Communicating Personal Financial Planning Concepts to Your Clients. Practitioners with five or less years of experience in personal financial planning and up to 15 years in the CPA profession are invited to attend the Advanced PFP conference for a reduced price and will receive complimentary registration for this workshop, networking receptions and more. To take advantage of this offer, email with your name, contact information and brief professional history/CV. LinkedInFacebookTwitterEmail this Story

  • New report discusses need for unified approach to talent management
    In a new report for CGMAs, One Finance. Building Tomorrow's Talent Strategy, the need for a unified approach to talent management in light of increasing skills requirements as finance operating models and finance structures change is discussed. Organizations need to consider the full finance function, and whole finance talent population, when planning their talent development strategy. By having a "one finance" approach, organizations can ensure they have a larger and more effective talent pipeline of professionals. In this way, they can optimize the ROI on human capital development. LinkedInFacebookTwitterEmail this Story
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Character is much easier kept than recovered."
--Thomas Paine,
British-American political activist and 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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