News Wrap-Up - Issue 274

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THIS WEEK'S NEWS
  1. PCAOB Proposes Rules Concerning Tax Services, Contingent Fees
  2. FASB Rules that Companies Must Expense Stock Options
  3. Treasury, IRS Issue Accounting Method Change Procedure
  4. GASB Issues Draft on Accounting for Termination Benefits
  5. Oracle to Pay $10.3 Billion to Acquire PeopleSoft
  6. Business Groups Begin Quiet Campaign to Oust SEC's Donaldson
  7. WSJ: SEC Won't Fine Global Crossing Founder
  8. Kmart Deals with Another Accounting Issue
  9. Wineries, Bars Get Reprieve from Civil War Tax
  10. New Law is the "Sarbanes-Oxley" of the Human Resources Sector
  11. Time Warner Settles AOL Merger Related Case for $510M
  12. Treasury, IRS Issue Section 409(p) Regulations
  13. AICPA Issues Stmt. on Accounting for Real Estate Time- Sharing Transactions

Check out the News Page for this week's news and more.

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THIS WEEK'S NEWS
  1. PCAOB Proposes Rules Concerning Tax Services, Contingent Fees

The Public Company Accounting Oversight Board voted unanimously at its open meeting to propose for public comment certain ethics and independence rules concerning independence, tax services, and contingent fees.

  1. FASB Rules that Companies Must Expense Stock Options

In a long-awaited and sure-to-be controversial move, the Financial Accounting Standards Board ruled yesterday that companies have to begin expensing for stock options given to employees as part of compensation packages.

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  1. Treasury, IRS Issue Accounting Method Change Procedure

The Treasury Department and IRS on Monday issued a revenue procedure that sets forth the exclusive administrative procedures that taxpayers must use to obtain automatic consent to change their method of accounting for the second taxable year ending on or after 12/31/03.

  1. GASB Issues Draft on Accounting for Termination Benefits

The Governmental Accounting Standards Board (GASB) has published an Exposure Draft, Accounting for Termination Benefits, that would establish accounting guidance for state and local governmental employers regarding benefits provided to employees who terminate employment.

  1. Oracle to Pay $10.3 Billion to Acquire PeopleSoft

After an emotional and often bitter 18-month battle, PeopleSoft Inc. agreed to be acquired by Oracle Corp. for about $10.3 billion.

MORE HEADLINES...

  1. Business Groups Begin Quiet Campaign to Oust SEC's Donaldson
  2. WSJ: SEC Won't Fine Global Crossing Founder
  3. Kmart Deals with Another Accounting Issue
  4. Wineries, Bars Get Reprieve from Civil War Tax
  5. New Law is the "Sarbanes-Oxley" of the HR Sector
  6. Time Warner Settles AOL Merger Related Case for $510M
  7. Treasury, IRS Issue Section 409(p) Regulations
  8. AICPA Issues Statement on Accounting for Real Estate Time-Sharing Transactions

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  4. Car Donations; Law Changes Rules at End of the Year, Beware
  5. Business Growth Continues to Fuel Demand for Accountants
  6. Big Four Accounting Firms Steering Clear of Risky Business

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