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This Week's News

FASB Improves Employer Pension & Postretirement Plan Accounting

Study Finds Young Workers Displaced by New Immigrants

Congress Exempts CPAs from GLB Privacy Notification Requirement

Fastow's Shortened Sentence Sparks Surprise, Anger

Sony Will Recall Batteries; CPSC Offers Tips for Safe Notebook Use


Product Offer

Seminar: Oil and Gas Tax Update

Event Date: Monday, October 9, 2006
2:00 PM - 4:00 PM (US Eastern time)
1:00 PM - 3:00 PM (US Central time)
12:00 PM - 2:00 PM (US Mountain time)
11:00 AM - 1:00 PM (US Pacific time)
6:00 PM - 8:00 PM (GMT)

Summary:
This hot-topic session will cover recent changes in oil and gas taxation, along with important topics that relate to the current environment of an exploration and production company. Noted oil and gas tax authority and educator, Patrick Hennessee, Ph.D. and CPA, will address recent law changes in the tax treatment of domestic exploration expenditures, oil and gas depletion limitations, and pipeline depreciation, and new regulations on the section 59(e) election for IDC will be covered. In addition, issues relating to the current industry environment of oil and gas deal structuring will be also addressed.

- The New Two- (and Five-) Year Amortization of Domestic Geological and
Geophysical Costs
- Sec. 613A Depletion Issues
* New Definition of Refiner
* You a "Retailer" of Natural Gas--But Don't Know It?
* Allocation Issues of the 1000 bb. Limit
* Tar Sand Oil vs. Crude Oil for Depletion
- Depreciation of Natural Gas Gathering Pipelines
- New Regs on the Section 59(e) Election for IDC
- Deal Structuring Issues
* The Tax Shock of a Sublease vs. a Sale
* Carried Interests and Farm-outs vs. Tax Partnerships

CLICK HERE FOR MORE INFORMATION
A CLOSER LOOK AT ISLAMIC ACCOUNTING

Recent events, from the start of Ramadan, to the Pope's controversial remarks about Islam, to the discovery of a new tape by two of the September 11 attackers, to the release of Bob Woodward's latest book, have once more made Islam a topic of conversation. Beyond the headlines, however, exists a complex religious and social system that affects far more people than just Muslims. Islamic finance, particularly Islamic banking, insurance and accounting, is playing a growing role around the globe, especially in the business world.

Islamic accounting is generally defined as an alternative accounting system which aims to provide users with information enabling them to operate businesses and organizations according to Shariah, or Islamic law. With little doubt, the greatest challenges to Islamic accounting and finance in the United States stem from a lack of knowledge and understanding of Islam and the intricacies of its financial laws and concerns regarding terrorism, combined with the U.S. regulatory framework and guiding principles of American business. The Muslim and Islamic financial markets within the U.S. and around the world, currently represent an enormous opportunity for those willing to overcome these challenges.

The number of Muslim consumers, investors and business owners has grown along with the Muslim American population. Although demand for Islamic financial products and services has increased, both the supply and the number of providers remain insufficient.

To read more visit: "Islamic Accounting: Challenges, Opportunities and Terror", Click Here.


5 COMMON VPN SECURITY MISTAKES

Avoiding these five common security mistakes can help companies introducing and using virtual private network (VPN) technology prevent costly errors and user frustration. According to a white paper from Positive Networks, a leader in hosted, managed remote access and endpoint security solutions, the five most common VPN security mistakes are:

1. Skipping Real-time Endpoint Security Monitoring
2. Ignoring Spyware and Critical Updates
3. Leaving Critical Servers Accessible from the Internet
4. Assuming Citrix & MS Terminal Server Eliminate the Need for Endpoint Security
5. Expecting Employees to Never Use Untrusted PCs for Work

Read "Five Common VPN Mistakes", Click Here.
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October 5, 2006








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