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Recently Published
Alerts
- Congressional Inaction Creates Estate Planning Mess
- NAIC Adopts Temporary Changes to SSAP 10
- Surviving the Upturn... Be "The Other"
Articles
- Excess Capacity - Tax Advantage or Disadvantage?
- The Federal Government to the Rescue: Five-Year NOL Carryback
- Review Your Capital Assets for Possible Impairments
Business Surveys
- Survey of Chicago Area Business Leaders, September 2009
- Survey of Advisors to Family-Owned Businesses
- Survey of Chicago Area Business Leaders, February 2009
Construction Edge
- Managing Indirect Costs Calls for a Keen Eye ... and a Plan
- An Escalation Clause Can Help Curtail Materials Cost Woes
- Four Ways Dishonest Employees Can Steal Your Money
Insurance Edge
- Risk-Focused Exams for Reinsurance: What's Going On?
- SSAP 43R-Revised Loan-Backed and Structured Securities
- Insurance SAS 70: A Move Toward Action in Governance
Legal Talent
- Varying Rates for Contract Attorneys: Caveat Emptor!
- Top 10 Reasons to Hire Temporary Help in a Down Economy
- Five Organizational Tips for Staffing a Document Review Project
Manufacturing Edge
- Excess Capacity - Tax Advantage or Disadvantage?
- The Federal Government to the Rescue: Five-Year NOL Carryback
- Review Your Capital Assets for Possible Impairments
Not-for-Profit Edge
- Effective Dashboards for Not-for-Profit Boards
- Nonprofits Need Innovative Thinking to Survive the “New Normal”
- Online Donation Portals Ease Contributions, Receipt Process
SEC Edge
Revenue Gets the Recognition it Deserves
Recently, the Financial Accounting Standards Board (FASB) finalized two new revenue recognition rules that affect companies. The rules are part of a broader effort by FASB and the International Accounting Standards Board (IASB) to clarify principles for recognizing revenue and...
read moreMerger Mysteries
Accounting for business combinationsA weak economy has caused merger and acquisition activity to slow over the past two years, but business combinations may be on the verge of a comeback. If your company is contemplating M&A activity in the near...
read moreWriting Off Goodwill
A weak economy makes unscheduled testing necessary. In today’s volatile economy, companies must pay close attention to goodwill impairment. Under current accounting rules, companies are required to test acquired goodwill for impairment annually. But unscheduled impairment tests may be necessary...
read moreHow Subsequent Events Affect Your Financial Statements
Financial statements provide a snapshot of your company’s financial condition on the balance sheet date. But in the real world, a company’s assets, liabilities and net worth are in a constant state of flux. What happens when, after your financial...
read moreRecession Relief: Rounding Up Recent Tax Developments
In today’s difficult economic environment, managing cash flow and liquidity are keys to survival for many companies. Fortunately, the IRS and lawmakers have provided some assistance in the form of tax breaks. Some recent legislative and regulatory changes may provide...
read moreRequired Reading: How the SEC Proposes to Change Proxy Disclosure
The Securities and Exchange Commission (SEC) recently finalized new rules for proxy disclosure and solicitation enhancements that demand the attention of all public companies. These rules are intended to improve disclosures to shareholders in annual reports, proxy and information statements,...
read moreERM Helps Companies Strike the Right Risk/Reward Balance
Enterprise risk management (ERM) has been talked about for years, but hasn’t received a lot of attention outside the financial service sector. However, it now appears to be more than a passing fad. Last year, Standard & Poor’s announced it...
read moreUncertain Times Demand Flexible Forecasts
The credit crisis, volatile markets and uncertain prices for supplies and raw materials are making it extremely difficult for companies to forecast financials. In a recent CFO magazine survey, 70% of respondents said they couldn’t forecast more than one quarter...
read moreBeyond the Financial Statement
Most companies focus their Sarbanes-Oxley Act (SOX) compliance efforts on Section 302, which requires CEOs and CFOs to certify the accuracy of financial statements, and Section 404, which requires management to annually evaluate the effectiveness of internal controls over financial...
read moreGet Ready—Here Comes IFRS
In November 2008, the SEC published its proposed “road map” for the transition to International Financial Reporting Standards (IFRS), with the goal of moving accounting principles generally accepted in the United States (GAAP) to IFRS over the next six to...
read moreIs Your Company Getting the Research Credit It Deserves?
Last October’s Emergency Economic Stabilization Act (EESA) extended the federal research tax credit for the 13th time since the credit was originally enacted in 1981. It expired at the end of 2007, but EESA revived it for 2008 and 2009....
read moreWatch Out for Transfer Pricing Tax Rules
Does your company do business with an international parent, subsidiary or other related company? Then pay close attention to transfer pricing. Failing to comply with regulations, including new transfer pricing rules on intercompany services, may put your company at risk...
read morePrepare Now for the Implementation of International Accounting Standards
For years, participants in the international capital markets have been pushing for a single set of high-quality, globally accepted accounting standards. Their efforts have panned out as International Financial Reporting Standards (IFRS), issued by the London-based International Accounting Standards Board...
read morePrinciples-Based Standards: Substance Over Form
As U.S. companies gear up to comply with International Financial Reporting Standards (IFRS), both the U.S. Securities and Exchange Commission (SEC) and Financial Accounting Standards Board (FASB) recognize the need to move toward principles-based standards. These standards address many of...
read moreYour Audit Committee’s Changing Role
In the last few years, the role of the audit committee has changed dramatically. Traditionally, committees have overseen the financial reporting process including advising management and external auditors and reporting to the board of directors.In the wake of this decade's...
read moreNew and Timely Guidance on FAS 157
Few pronouncements from the Financial Accounting Standards Board (FASB) have been as controversial as Statement of Financial Accounting Standards No. 157 (FAS 157), "Fair Value Measurements." Some critics blame FAS 157, at least in part, for the country's current financial...
read moreThe Foreign Language of Fraud: U.S. Companies Are Especially Vulnerable in China
If your company has Chinese operations or plans to start doing business in China, you face many challenges—not the least of which is fraud. Language and cultural barriers, geographic distance and rudimentary government regulations mean that Western companies often fall...
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