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June 18, 2009

Publisher's Note
Our little baseball math challenge that we put out to you earlier this month has produced a wide range of theories and estimates.

AccountingWEB thanks everyone who has participated thus far. Please post your comments and interpretations to this running list.

If you would like to offer a math challenge to the AccountingWEB audience, please e-mail me.

Rob Nance
AccountingWEB, Inc.

Why You Should Work in London
In many cases the hardest thing about leveraging a geoarbitrage a strategy is finding the actual opportunities... What this tells me is that I should find work in London, get paid in pounds (GBPs), and live in North Carolina...

Deloitte advocates companies hire a Chief Value Officer
Apparently, Deloitte has a newsletter, The Value Habit. Volume 9 has an article, Help Wanted: Chief Value Officer: Creating value is a full-time job. It's an excellent article, and we believe, an even better idea....

Private Company Stock Exchanges
Last month I wrote a blog entry on with SecondMarket which is trying to establish a way for holders of private company stock to trade stocks....

Live from the Maryland Biz Expo, Part 2
As the MD Biz Expo floats into the final hour, I am reflecting on the very worthwhile week this has been. That opinion is not solely mine; it is shared by everyone I have met....

Questions & Advice

Pre-trades on equipment

Need to know how you would set up accounts for a pre-trade in on some equipment that can be sold before the original equipment comes in.
Add your input!

Delinquent Reports of For. Bk. Accts. Form 90-22.1

For years, one of my oldest friends has been delinquent with his returns. He lives in Europe and travels constantly. I finally got him caught up, and now he is finally going to file his first and timely TDF 90-22.1. He has not filed all his many past-year Reports of Foreign Bank Accounts, going back to 2002....
Share your suggestions!


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Top News

IRS calls on Congress to repeal "burdensome" cell phone tax rules

Just days after announcing a new attempt to get a handle on taxing the business portion of cell phone use by suggesting a flat 75% business/25% personal division of expenses on cell phones used as business phones for purposes of determining tax deductible expenses, IRS Commissioner Doug Shulman has suddenly changed gears and is asking Congress to repeal the designation of cell phones as listed property. more >>
Wither Conficker?
Innumerable computers are still infected by one of the five known variants of the virus....
Taxation of virtual goods is on the drawing board
The National Taxpayer Advocate has raised the question of whether the tax code should allow for tax-free transactions of virtual goods....
A new era of GAAP research begins soon. Are you prepared? You can be with Checkpoint®

On July 1, 2009, pending approval by the FASB, the FASB Accounting Standards Codification™ will become the single official source of authoritative, nongovernmental U.S. generally accepted accounting principles (GAAP). As a subscriber to FASB standards on Checkpoint, you will have all the tools you need to effectively manage the transition to the Codification when it becomes effective.

Checkpoint subscribers will have access to all of the "pre-codification" standards, and will benefit from time-saving links between the FASB Accounting Standards Codification™ and the pre-Codification standards for easy reference. If you have any questions about the FASB Accounting Standards Codification™ on Checkpoint, please call 1.800.950.1216 or visit
Featured Articles
Sustaining your business: What are you waiting for?

Business owners and leaders are looking for new ideas on how to sustain their businesses in the midst of uncharted and uncertain times. They have found many of their traditional methods and approaches are deficient from the standpoint of sustaining past levels of growth and profitability. These leaders now understand that business innovation needs to live side-by-side with their past methods, processes, products and services. more >>
The MacGyver approach to starting a financial business
Entrepreneurs who are starting their own accounting or finance business in the current economy could learn a lot from our friend Mr. MacGyver....
AICPA responds to CPA exam myths
"Another 71 - A CPA Exam Blog" recently posed these questions to the AICPA in hopes of clearing up some confusion about the infamous exam....
Office Pro Tools
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Firm/State/People News
Sunburned and tired, BBD volunteers would do it again

Back from a demanding and sometimes difficult five-day service project in Saylersville, Kentucky, all 21 volunteers from Briggs Bunting & Dougherty LLP (BBD) in Philadelphia would do it again if they had the chance. more >>
C.E. Andrews has been named new president of RSM McGladrey
H&R Block, Inc. has announced that Charles Elliott "C. E." Andrews has been named president of its wholly owned business services subsidiary, RSM McGladrey...
Principal of Maner Costerisan named treasurer of Michigan chapter of AAM
James A. McNeeley, CPA, principal, was recently appointed treasurer of the Michigan chapter of the Association for Accounting Marketing (AAM)....
CPE Link
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