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June 04, 2009

Publisher's Note
Many accountants like math challenges, so here's a dandy. I've been to hundreds of baseball games in my life, but at a recent AAA minor league game I witnessed something I had not previously seen. If you can tell me what the actual odds are of this event, I will send you a very special AccountingWEB gift!

Here's what happened: In a game where 9,140 people attended, the batter hit a foul ball into the right-field corner, which was caught in the air by a fan. On the next pitch, the batter hit another foul ball--caught in the air by the same man! Same batter, same pitcher, same man in the seats catching the ball in mid-air...and on consecutive pitches! What are the odds of this happening? Let me know.

Rob Nance
AccountingWEB, Inc.

Google Tasks
If you are looking for a simple task keeper to help you manage your day, Google Task is worth checking out. Google Tasks is by far the simplest task organizer I have ever used...

Office Etiquette
Please don't stand there and make hand gestures as if you are waving in a 747 to get their attention...

Can Law Firms Really Simplify FAS 123R Reporting for CFO Clients? Think One Shared System
What happens when numbers are based on data that's being tracked at the company's law firm - instead of internally?

FASB Reaffirms Codification To Become Official GAAP July 1; Update On Going Concern
FASB reaffirmed that its Accounting Standards Codification will become the single source of official U.S. GAAP on July 1. In practical terms...

Questions & Advice

Looking for WY boilerplate bylaws

Client is looking to incorporate in Wyoming. Need a boiler plate, but ironclad by-laws for C Corp with protective legalese as possible. Any ideas on where to find such info?
Add your input!

Client's son wrecked business truck - another vehicle involved

Client is seeking advice from an attorney due to the numerous accidents their son has been involved in and other various situations with him. He has already stated that he had permission to take the truck and the officer responding believes this to be true as the son still lives with parents/clients. Any input on the ramifications to the business (LLP)?
Share your suggestions!


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Top News

IRS Commissioner discusses challenges of global tax arena

The recent financial crisis has shown us in stark terms how interrelated we are as nations and how we truly operate in a global economy. IRS Commissioner Doug Shulman recently addressed issues relating to ensuring that taxpayers do not use the complexities of international capital markets to push tax planning beyond acceptable bounds, and ensuring that individuals who have assets overseas pay what they owe in U.S. taxes. more >>
Supreme Court will hear challenge to PCAOB
If the plaintiffs are successful, Congress would likely need to revisit the provision in Sarbanes Oxley that established the PCAOB, which could potentially mean reexamining the entire law...
FASB Accounting Standards codification will launch July 1
Preparers must begin to use the FASB Accounting Standards Codification for periods that begin on or about July 1, 2009...
Businesses have until August 17 to take advantage of certain tax credits
Businesses that hired unemployed veterans and unskilled younger workers during the first part of 2009 have until August 17...
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Featured Articles
Tools of the Trade: Plumbers have wrenches, Artists have paintbrushes, CPAs have titanium putters

Tax season is over and the golf course and warm weather are calling your name. But in this economy, can you really afford to take time off work? Business advisors have said that clients are out there, you will just have to work harder to get them. Doesn't that mean you should be beating the bushes instead of playing golf? Whatever you do, don't let Debbie Waitkus hear you say that. more >>
Accountants rank soft skills as more important than technical skills
A recent survey discovered that leadership priorities change depending on the performance of the overall economy...
CPA Society offers lessons for new accounting graduates
Expert guidance for grads can help them start life on sound financial footing...
Help clients take advantage of the First Time Homebuyers Credit
For those who don't have the down payment up front, the First Time Homebuyers Credit works better in theory than in practice...

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Firm/State/People News
Another celebrity in the IRS spotlight: Robin Givens

More and more, it seems, celebrities are making themselves at home in the arena of tax troubles. The latest entertainer to spar with the IRS over unpaid taxes is Robin Givens, former wife of heavyweight boxing champion Mike Tyson. more >>
Clifton Gunderson relocates firm headquarters
Clifton Gunderson becomes the first national Certified Public Accounting firm to be headquartered in Milwaukee and the only national CPA firm headquartered in all of Wisconsin...
CRI awards scholarships to top students
CRI will award two scholarships to students at each of four Tennessee universities in 2009-10 as part of an initiative to support growth and development of future accounting...
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