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February 18, 2010    
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Publisher's Note
Rob Nance, Publisher It’s that time of year again to send us your nominations for AccountingWEB’s Outstanding CPA Association Employee of the Year. Last year, Tom Hood, CPA, executive director of the Maryland Association of CPAs won it for the year 2008. Who will win it based on 2009 performance?

Oklahoma, North Dakota and Maryland state CPA society folks won this award during the three years we have bestowed the honor. What CPA association person has been especially helpful to you in the past year? Who has gone above and beyond? E-mail me with your nomination. Deadline is 12:00P Eastern on Friday, February 26. The winner will be announced on Thursday, March 4.

Rob Nance
Top News
Senior executives scrutinize risk processes, say economic recovery elusive
Meeting better results As companies search for a path to growth and corporate board members express doubt that the U.S. economy can return to pre-crisis growth in the near-term, boards are putting their more immediate focus on risk management as they refine their oversight processes, according to new research by the Audit Committee Institute (ACI) of Big Four accounting firm, KPMG LLP.
Pennsylvania CPAs bring humor to accounting profession with YouTube videos
Humor can be a great way to get a conversation started. Just ask the Pennsylvania Institute of CPAs (PICPA) who recently launched several amusing promotional videos aimed to tweak the image of accountants and the profession.
Accountants share success stories on new Web site
A new Web site,, offers specially certified, non-traditional practitioners a place to tell their success stories.
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Featured Articles
10 new tax savings on 2009 Form 1040
Tax Form 1040 "The payoff for grasping new tax breaks can be substantial on the 2009 version of Form 1040," said Bob D. Scharin, senior tax analyst for the Tax & Accounting business of Thomson Reuters. "Yet, you will miss out on the tax savings if you rely on last year's return as a template for this year's filing."
Heading off hackers
CPA firms may be at a higher risk for hackers because they store sensitive client data. A security disaster plan and response team should be in place before a problem occurs so that you can respond quickly and professionally in a crisis.
The Accounting Hall of Fame . . . Have you got the EI to qualify?
At the opening of this year's Super Bowl, seven men were inducted into the Pro Football Hall of Fame. You don't even have to be a football fan to appreciate the skill it took for each of the Hall of Fame Inductees to have received the honor. It got me thinking about the line-up for The Accounting Hall of Fame. What would it look like?
Free CPA Review from Kaplan
Test drive Kaplan’s CPA Review Course. Kaplan is allowing AccountingWEB readers to enroll for free in the BEC section of their Online Review Course. You receive the complete course ($399 Value) for just the cost of shipping and handling. Kaplan CPA Review
Firm/State/People News
McGladrey & Pullen and RSM McGladrey hammer out details
Merger McGladrey & Pullen LLP and RSM McGladrey Inc. have reached agreements following the termination of a 10-year-old deal between the two firms.
Hair stylist to the stars gains fame he never wanted
He’s not a national celebrity himself, but celebrities like Maya Angelou, Mary Tyler Moore, and Britain’s former princess Sarah Fergusson depend on him for their beauty. Now, Teddie Kossof is getting some media attention he’d like to avoid.
A new era, and a new name for Briggs, Bunting & Dougherty
Briggs, Bunting & Dougherty, LLP, a Philadelphia-based, PCAOB-registered firm of certified public accountants, has announced that the firm has changed its name to BBD, LLP.
What do you have to say today?
Aggravated with Auditing Standards
I attended a PPC seminar in September 2007 on implementing the then new auditing standards. One of the highlights for me was a session led by, if my memory is correct, Harold Monk, the chair of the Auditing Standards Board....
Considering Cancellation of Debt Income in a Workout
If you like many businesses are going through a workout, turnaround or reorganization, either out-of-court or pursuant to a Chapter 11 petition, be sure to consider the impact of cancellation of debt income in your workout plan.
SEC Approves FASB Support Fee; FAF To Maintain XBRL
There was a lot of buzz last week about the Financial Accounting Foundation's Feb. 5 announcement that it would take over responsibility for maintaining the U.S. GAAP Taxonomy for eXtensible Business Reporting Language (XBRL).
No Estate Tax is a Good Thing...Right?
Generally speaking, the fact that we currently have no federal estate tax is a good thing. However, the unprecedented temporary repeal may cause problems for some estates.
Kaplan Weekly Quiz
Kaplan Are you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz.
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