July 7, 2011
GASB to propose changes to accounting for state pensions
The Government Accounting Standards Board (GASB) will propose changes later this month to the method used by most U.S. state and local governments when they report unfunded pension liabilities on their balance sheets. The proposed changes could result in an increase in the amount of liabilities governments will report.
IMA survey finds slight increase in salaries for finance and accounting professionals
The Institute of Management Accountants' recent salary survey found that, while salary increases were moderate in 2010, accountants holding professional certification have greater earning power than those with no certification.
Taxpayer Advocate: Cuts to IRS would hinder tax collection efforts
National Taxpayer Advocate Nina Olson is telling lawmakers to leave the IRS alone when it comes to budget cuts. Olson said the IRS has been challenged by enacting new tax credits - the First-Time Homebuyer Credit and the Making Work Pay Credit among them. The programs are complicated, prompting many more taxpayer problems and questions, yet the agency is less able to respond quickly.
With a couple months left in the summer, there's never been a better time to spend a day doing something for the community. So many public accounting firms, corporate employers, and small businesses donate time, effort, and money to numerous causes. Barnes Dennig, an accounting firm in Cincinnati, is one such firm committed to community improvements. Our accounting profession does a lot for others. For those of you volunteering your time, brains, muscles, etc., all of us at Sift Media applaud you! Comment here.

Rob Nance
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