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MAY 15, 2008


SEC to require mandatory XBRL filing in 2009
Approximately 500 companies will be part of the first wave of companies required to submit their financial results electronically using XBRL, the eXtensible Business Reporting Language, if a staff recommendation set out by the U.S. Securities and Exchange Commission at an open meeting on Wednesday, May 14th is implemented.

Complex tax break on hybrids causes headaches for IRS
Some taxpayers erroneously claimed an alternative motor vehicle credit on leased cars, tried to claim it for cars that did not qualify, or claimed more than the maximum $3,150, according to a new government report.

How to stand out in the workplace: Our top five recommendations
Standing out at work is important. But add a struggling economy with everyone spending more and getting less and suddenly standing out at your workplace becomes essential. Are you just another face at the office or someone who likely to be tapped for the next promotion? Do you have an accurate picture of how you are regarded?


What have you got to say today?

David Tate, CPA, Esq.:
The Legal & Accounting Blog
UTStarcom, Inc., SEC action, any lessons learned?

Although determinations in SEC proceedings involving UTStarcom, Inc often do not constitute adjudications or admissions of fact or wrongdoing, the allegations and resolutions can provide insight and interesting reading for outside and internal auditors, governance and compliance professionals, officers, directors (audit committee members), and legal counsel....

Alex Vuchnich, CPA, CFE:
Profit Matters Blog
Compliance Services Are Not a Commodity, Part II

One of the things that has been a contributing factor to the perception that professional services such as audit and tax work are a commodity is our profession's aversion to 'marketing' our services. Part of this is driven by the fact that there is so much demand for our services that it obviates the need to actively seek out or market them....

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Quiz Me!

This week's Student Zone quiz is "Taxes" and is brought to us by Barbara W. Scofield, PhD, CPA - Associate Professor of Accounting and Director of the Financial Accounting Concentration at the University of Dallas in Irving, Texas. Sharpen your skills!

Publisher's Note

I've been to the Mississippi Delta crossroads (Routes 61 and 49) where, in the dark Mississippi night, Robert Johnson traded his soul to the devil for fame and guitar-playing genius. This monumental spot is also not far from a great bar that actor Morgan Freeman owns (travel tip).

Gale Crosley's new book "At The Crossroads" hones in on major decisions, albeit not to the purported level of Robert Johnson's, but crossroads types of issues nonetheless. This tale of a fictitious Minneapolis accounting firm brought back so many memories of working in an accounting firm that I found myself smiling, nodding my head in agreement, and chuckling throughout the text. Crosley really nailed it, matching each personality type with real live people who exist in firms all over the nation. Read it.

Rob Nance

Latest News

Firm/State News

Webinar: Clifton Gunderson is combating construction fraud
Clifton Gunderson will host a free webinar focused on the financial risks involved in construction projects. Chief Financial Officers, controllers, directors of internal audit, and owners of construction, real estate, architectural and engineering companies should all attend.

Student News

Former accounting professor takes helm as president of Eastern Michigan University
The EMU Board of Regents has voted unanimously to name Dr. Susan Martin as the next president of Eastern Michigan University.

Case Western Reserve: A day in the life of an accounting student
The following piece is from a day in my internship journal. We had to keep a journal each week throughout the internship that only the recruiter and our intern buddy were allowed to read. I shared mine with my advisor at school as well to keep him updated on how my internship was going.

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