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Recently Published
30 Second Ideas
- You’ve Got Two More Days to File Your Tax Return
- 2012 Standard Mileage Rates
- Taxpayers Beware: IRS Impostor Emails
Accounting Updates
- New Consolidation Standards — Who Put the VIE in Related-Party Lease Arrangements?
- Proposed Changes to Revenue Recognition Standards — Only One Proud Standard Rather than Dozens
- Proposed Changes to Lease Accounting Standards — The Classic Cookie-Cutter Standard Is Likely to Be Retired
Alerts
- Beware: New Form 8938 - Statement of Foreign Financial Assets
- Time to Come Clean with Cook County (and Chicago too?)
- SSAP 101 Adopted
Articles
- Beware: New Form 8938 - Statement of Foreign Financial Assets
- You’ve Got Two More Days to File Your Tax Return
- 1099-MISC Requirements for Landlords
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
Healthcare Edge
- Specialty Snapshot: Home Healthcare Services
- Is Your Healthcare Entity a Personal Service Corporation?
- Small Business Health Care Tax Credit
Insurance Edge
- SSAP 101 Adopted
- Organizing Reinsurance in Receiverships and Troubled Companies
- Redefining the World of Deferred Acquisition Costs (DAC)
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
- A Year-End Planning Checklist for Every Manufacturing Company and Distributor
- Goodwill Impairment Testing — Simplification May Be Possible
- Ten Easy Ways To Improve Your Website and Bring In More Customers
Not-for-Profit Edge
- Insights from Not-for-Profit’s Accounting and Auditing Update 2011
- Benefits of Conducting a Fraud Risk Assessment
- A Formula for Sustainable Spending
Quick Links & Good Ideas
- Quick Links and Good Ideas, January 2011
- Quick Links and Good Ideas, November 2010
- Quick Links and Good Ideas, September 2010
Strategy Insights Blog
- Measuring the Success of Your Strategy, Starts with Asking the Right Seven Questions
- Leadership Lesson from the Military: Put Away Your Iron Fist and Empower Your Troops
- The New Digital Reality: Your Brand Is No Longer in Your Own Hands
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 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 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 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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