FASB gives private companies temporary reprieve from FIN 48

At the October 15, 2008 meeting, the Financial Accounting Standards Board (FASB) redeliberated the scope of the proposed deferral of FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes, for certain nonpublic entities.

Bankers ask SEC to override FASB’s new fair value guidance

The American Bankers Association has asked the Securities and Exchange Commission (SEC) to use its authority to override the Financial Accounting Board's (FASB) additional guidance on fair value, FAS 157-3. In a strongly worded letter to SEC Chairman Christopher Cox, Edward L. Yingling, President and CEO of the bankers' group said that the guidance, "basically ignores what we believe to be the intent of the SEC's release of September 30, 2008."

U.S. business owners' pessimism at all-time high

Energy prices, recession, and credit availability are among the biggest concerns for U.S. business owners, whose pessimism is at an all-time high in the history of the PNC Economic Outlook survey.Nearly one in three business owners (29 percent) are pessimistic about their own company's prospects during the next six months, compared to 21 percent in the spring and 10 percent in last fall's findings of this semiannual survey, introduced in 2003 by The PNC Financial Services Group, Inc.

7 reasons why operating a home-based small business is advantageous to clients

By Bruce Katcher, Ph.D.THE PROBLEM:Many professional service providers seem embarrassed that they operate a small business out of their home. They are concerned prospects and clients will view this negatively. Although I personally don't go out of my way to advertise that I operate out of my home, I don't hide the fact either. I worked for four years for a large, international consulting firm with posh offices at a fancy address. I know from this experience that working as a small business from my home offers many advantages to my clients.

New SBA site geared toward Baby Boomers

The U.S. Small Business Administration has unveiled a new Web site geared to the 50-plus entrepreneur, providing useful information, links, and resources vital to starting, growing, and expanding a small business.The new Web site, "50+ Entrepreneur," features interactive information and links to help 50-plus entrepreneurs consider the benefits and rewards of business ownership, and to help them make informed choices about business ownership.

Publicize your small business with videos on YouTube

Many people view YouTube solely as a resource for wacky practical jokers looking to post humorous video clips of their latest exploits. But for entrepreneurs, the Web site can also form a key part of marketing strategies. Steph Williams, project administrator at the National B2B Centre, explains to our sister site,, how YouTube can benefit your business.

SEC, FASB issue clarifications on fair value accounting

The current environment has made questions surrounding the determination of fair value particularly challenging for preparers, auditors, and users of financial information. The SEC's Office of the Chief Accountant and the staff of the FASB have been engaged in extensive consultations with participants in the capital markets, including investors, preparers, and auditors, on the application of fair value measurements in the current market environment.

Who is the most important person in your office?

By Hal BeckerSo who do you think is the most important person in your office? If you answered yourself, deduct two points and then go look for a dose of humility!Right up front, point person, numero uno, supreme commander, the holiness who rules the office, yes, we are talking about your receptionist. This is the key ingredient to the office that lives and breathes customer service when compared to all the other ones that just say they believe in it or say they "give good service."

Solo 401(k) plans - great benefit for the sole proprietor

Solo-401(k) plans, designed for the sole proprietor, the proprietor's spouse, and partnerships whose only employees are self-employed partners and their spouses, are now permitted to offer participants flexible savings accounts with an after-tax Roth option as well as the traditional pre-tax option. Individuals in the plans may direct their savings to both accounts. But only a few of the major investment firms have begun to offer the Roth option.

Reduce litigation risks and costs with eDiscovery approach

By Ursula TalleyCompanies of all sizes are facing increased litigation risks and costs today. A great way to reduce those risks and costs is by adopting a proactive eDiscovery approach. If you're not sure what proactive eDiscovery means, this article not only offers a good definition, but also explains the trends that make proactive eDiscovery inevitable, how to implement a proactive solution that can save you money, and how to get started now.Getting a Handle on eDiscovery

Five tips for communicating the real value of your services

By John DoerrAre You Different?In the course of my work with all manner of professional service firms, I hear a very common lament. "We are becoming a commodity. The prospects just seem to buy on price. We are really good. How can I possibly separate myself from the crowd?"My usual response is, "What can make you special? Why are you different?"
Practice Management

A bad boss can send you to an early grave

By Dr. Travis BradberryIt seems there's always a steady supply of sympathy available for anyone stuck working under a bad boss. Most everyone I know has been there at one time or another, working under a tyrant who somehow manages to survive in this world without people skills. If you haven't had a boss like this, you should consider buying a lottery ticket--and I mean soon. You are that lucky.

Exceptional service is an exception to the rule

So, you don't communicate so good! How do you think people perceive you? Is it professional or is it just OK?As a business owner or a manager, you must remember that the people who work for you represent you as well. In fact they are you!Example: You have a bad meal or bad service in a restaurant and then what do you tell people - "Don't go there!" You blame the whole place for one person. You do not simply say, "Don't have Bob as your waiter," or, "Carol was a lousy hostess." You blame the entire establishment. One person is the business.

I'm not a salesperson . . . or am I?

By Lenann GardnerAs a thoracic (chest) surgeon, Aaron was used to working on hearts and lungs.He's a gifted surgeon, with a wonderful bedside manner, impeccable skills, and true caring for his patients' lives and families. But the truth was, his case volume was down, and so too was his income. What to do?Aaron was surprised to realize that he had a sales problem.

Can we talk? Surveying your prospects and clients

By Angi FisherToday more and more companies around the world understand the importance of really knowing how their customers and prospects view their organizations. They also realize that customer viewpoints can change quickly. So how do you keep informed of your customers' opinions? How do you know they're continually satisfied? That they value your company? That they feel appreciated?

The many hats of a plant controller

By J. Stephen McNally, CPA What is the role of a plant controller? The answer may seem straightforward enough: the plant controller is responsible for personally coordinating the completion of all plant accounting and financial reporting activities related to his or her location. More specifically, the plant controller is responsible for cost accounting, financial closing and reporting, internal control and Sarbanes-Oxley compliance, tax, fixed asset accounting, inventory management, and related activities. But does the plant controller's role stop there? No.

Do you have the right number of employees?

By Bruce L. Katcher, Ph.D.Part 1 - THE PROBLEM:Organizations continue to downsize, yet our research shows that 6 out of 10 employees say there are not enough qualified employees to do the work in their department. Are they right, or are they lobbying to prevent layoffs? Here are some reasons why they may, indeed, be right:

Small Business Administration promotes benefits of Health Savings Accounts

President George W. Bush and U.S. Small Business Administration (SBA) Acting Administrator Sandy K. Baruah met in Oklahoma City earlier this month with women small business owners to discuss the benefits of Health Savings Accounts (HSAs), which can be used to obtain affordable healthcare coverage.An HSA is a tax-preferred account owned by an individual and used to pay for current and future medical expenses, including deductibles, co-payments and other forms of cost-sharing.

Permission to play: Developing a creative workforce

Somewhere in every business, there's one amazingly simple, yet amazingly smart idea just waiting to be had. The trick is to harness the kind of creativity that allows those ideas to spark and grow. Writing for our sister site,, Mocky Khan, from the Chartered Institute of Marketing, explains how.

10 tips for increasing your sales

In these tough economic times, making sure the cash keeps flowing into your business is crucially important. To help you boost your coffers this guide outlines 10 inexpensive and effective ways to boost your sales.


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