August 19, 2008
Editor's Note
What have you done for your community lately? We at AccountingWEB are interested in hearing about civic-minded accounting firms and how they participate in their community. Whether it is something you do internally like sponsoring a blood drive, or whether you're out on the street cleaning up graffiti (or creating interesting murals!), or helping in schools or sponsoring community events - we want to hear about it and we want to share your experiences with our readers! E-mail me with a brief description of your firm's extra- curricular activities and contact information for follow-up questions.

Best regards,
Gail Perry, CPA
Managing Editor

The Obama Sales-Pitch Stumble: Don't Let it Happen to You
How to Instantly Communicate with Many People at Once
Board Role Focus Of FEI Comments To COSO On Monitoring Internal Control
Proposed FSP ARB 43-a - Amendment of the Inventory Provisions of Chapter 4 of ARB No. 43
Proposed FSP ARB 43-a - Amendment of the Inventory Provisions of Chapter 4 of ARB No. 43

Featured Book
Sarbanes-Oxley Internal Controls: Effective Auditing with AS5, CobiT, and ITIL

by Robert Moeller
Author Robert Moeller, a renowned authority on internal controls, provides a high-level overview of Sarbanes-Oxley as well as the new internal control rules for auditors, including AS5, CobiT, and ITIL. Sarbanes-Oxley Internal Controls: Effective Auditing with AS5, CobiT, and ITIL prepares professionals with detailed discussions.

Top News

AICPA and Texas Tech announce new pathway to PFS credential
The American Institute of Certified Public Accountants and Texas Tech University's Division of Personal Financial Planning have announced a joint agreement to develop a new educational program that will lead to the AICPA's Personal Financial Specialist (PFS) credential. more >>
Before and after Sarbanes-Oxley - learning to live with change
Football great Bernie Kosar pays tax lien
An employee benefit with recruitment power: Volunteer work
Small Business News
New IRS analysis shows only half of Schedule C income is reported
New data based on analysis of the Internal Revenue Service's National Research Program Individual Reporting Compliance Study of 2001, on which the agency's estimate of the "Tax Gap" is based, show that only one-half of Schedule C income and only 88 percent of capital gains are reported. more >>
The returning-from-vacation blues
Energy costs hitting middle market on the bottom line
Firm/State News
Firms merge to form three-state accounting firm
Rodefer Moss & Co, PLLC is merging with the Indiana and Kentucky accounting firm of Melhiser Endres Tucker, CPAs, P.C., creating a company with seven offices in three states. more >>
McGladrey & Pullen expands credit union audit practice
FEI announces election of 2008-2009 board of directors
Tech News
Excel, Word, Access, and Outlook affected by latest Microsoft patches
Microsoft's "Patch Tuesdays" are unlikely to be the same starting in October, when the company will shift to a more consultative approach with third party vendors to its regular security update process. But the company created something of a bang on August 12th with six critical and five important patches. more >>
More than 2,000 expected to attend Illinois technology show
Laid-off Intuit employees start their own company
Questions & Advice
Complicated Bank Reconciliation
Is there a step-by-step procedure for doing a bank reconciliation that includes dealing with multiple adjustments from previous months that keep getting carried forward? Share your suggestions today!

Airfare purchased for business and personal travel
If an airfare ticket purchased by the company for an employee includes time for personal travel to a location other than the business destination are their any tax implications? If that purchase was only allowed because the employee had to cancel a ticket purchased personally to accommodate the business trip, does that make a difference in the tax consequence? Add your input!
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