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FEBRUARY 19, 2008


Budgeting basics - Part II: Creating your budget
Last week we learned about setting up goals for your budget. This week we begin with a discussion about how to calculate the cost of your goals, and then we get busy creating the actual budget.

SEC unveils 'Financial Explorer' investor tool using XBRL
Securities and Exchange Commission Chairman Christopher Cox has announced the launch of the "Financial Explorer" on the SEC Web site to help investors quickly and easily analyze the financial results of public companies. Financial Explorer paints the picture of corporate financial performance with diagrams and charts, using financial information provided to the SEC as "interactive data" in eXtensible Business Reporting Language (XBRL).

Latest salary survey shows that, for accountants, it's not all about the money
A recent survey developed by Robert Half International suggests that successfully wooing job candidates takes more than salary alone. While 37 percent of chief financial officers (CFOs) interviewed said offering higher compensation than competitors is the most effective incentive for attracting accounting professionals, nearly as many (33 percent) felt the benefits package had the greatest influence, up from just 2 percent five years ago.

Firm/State News

Grant Thornton rebrands with new logo and Web site
Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (Grant Thornton International), unveils its new brand identity today, February 19, 2008. Grant Thornton International member firms around the world will also use the new global brand identity and logo.


What have you got to say today?

Liz Zitzow:
Far and Away: Offshore Taxation
New UK tax law affects Americans living in UK

The gist of the new tax is that anyone who is not "domiciled" in the UK and has lived in the UK for more than seven years will face either a 30,000 pounds ($60,000) fee to avoid worldwide taxation or a voluntary inclusion of their worldwide income on their income tax return.

Dave Burt, CPA:
The Shirtsleeve Accountant's Blog
Explanation of price-to-book ratio

You can get a good explanation of price-to-book ratio or price- to-earnings multiples from many sources. However, to me the value in these ratios is historical only. What has happened?


Editor's Note

Keep your eyes on the skies for the next couple of days. In addition to the natural event of a total lunar eclipse that is scheduled to occur Wednesday night (visible throughout the most of U.S. from 10:01 to 10:51 ET), the U.S. Navy is supposed to take a shot at the spy satellite that is hurtling toward Earth. The Navy will attempt to shoot down the satellite over southwest Hawaii between 4:30 and 7:30 p.m. Hawaii time on Wednesday. Hawaiian air space will be cleared for a 24 hour period on Thursday when a second shot might be fired. It's time to start thinking about the tax and accounting ramifications of falling satellite debris...

Gail Perry

Student News

Microsoft gives students access to technical software at no charge
Microsoft Corp. Chairman Bill Gates today will unveil a software giveaway that will ultimately provide millions of college and high school students around the world with access to the latest Microsoft developer and designer tools at no charge to unlock their creative potential and set them on the path to academic and career success.

Lite News

British cross-dressing accountant may have faked his own death
Simon Carroll, 43, an British accountant from Shoeburyness, Essex, and a known cross-dresser, was thought to have killed himself last year after stealing nearly 600,000 pounds from the accounts of a building supply company in Essex.

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