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FEBRUARY 28, 2008
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Features
Financial Accounting Foundation announces major changes to FAF, FASB, and GASB The Board of Trustees of the Financial Accounting Foundation have announced that it has voted to approve major changes to the oversight, structure, and operations of the FAF and its two standard-setting Boards, the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). 
Economy looks bleak to CEOs of fasting growing companies Optimism in the U.S. economy among CEOs of the nation's fastest-growing private companies has fallen nearly 59 percent in the last year to 29 percent, hitting its lowest point in the 16 years since PricewaterhouseCoopers launched its Trendsetter Barometer. 
IRS, Nicolas Cage tangle over personal expenses Actor Nicolas Cage is the latest celebrity to be caught up in a dispute with the IRS. The IRS contends that Cage, the star of "National Treasure," wrongly wrote off $3.3 million in personal expenses, reports Forbes.com.  Student NewsBeta Alpha Psi launches national case competitionBeta Alpha Psi, the national honorary fraternity for accounting, IT, and finance students, has launched a new national competition for its members. Blogs!What have you got to say today?David Tate, CPA, Esq.: The Legal & Accounting Blog Perhaps only in San Francisco. It is reported in the San Francisco Chronicle (Matier & Ross) that the cost to construct a wheelchair ramp to make the Board of Supervisors President's podium wheelchair accessible may now cost $100,000 per foot, for a 10-foot long ramp. Total cost: as much as $1,000,000. It gets worse. The planning and actual work (which hasn't begun) have now taken four years. The disability compliant project should have been done in the 1990s, and the Supervisors may not be able to use the Board room for months after the actual work begins. Go figure.... The K2 Team Accounting Technology Talk and More! And yes, almost all of it is online. True, the personal information stored in your phone, PDA, and laptop is not always online. We do turn these devices off when we're requested to (well, most of the time). But as for the corporate data (including customer, vendor, and employee data) in our primary data storage location - yes, that hardware is typically and continually connected to the Web. If your service techs, employees, or consultants can get to it without being on-site, then it is online.... Join the forums - express your views! http://www.accountingweb.com/questions_advice/ http://www.accountingweb.com/blogs Lite NewsTest your financial reporting skills on the Revenue Recognition Challenge gameCongratulations! You've just been hired as the new CFO of Worldwide Faulty Enterprises where Murphy's Law is a corporate value. Only you can save the company and resuscitate its stock price. Firm/State NewsTwo Oregon accounting firms mergeThe Eugene, Oregon-based accounting firms of Mueller Yuva & Osterman and Larson and Associates have merged their practices. Purchase Now!Small Giants: Companies That Choose to Be Great Instead of Big
It's an axiom of business that great companies grow their revenues and profits year after year. Yet quietly, under the radar, a small number of companies have rejected the pressure of endless growth to focus on more satisfying business goals. Goals like being great at what they do . . . creating a great place to work . . . providing great customer service . . . making great contributions to their communities . . . and finding great ways to lead their lives.
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