INDUSTRY NEWS
Product and service updates from leading vendors
and suppliers to the accounting profession.

November 24, 2009
Expected vs. Incurred Loss Models
On November 5, the International Accounting Standards Board issued an exposure draft on the amortized cost measurement and impairment of financial instruments. The exposure draft proposes an expected loss model for recognizing impairments on financial assets recorded at amortized cost. Read more.

Key Findings From XBRL US National Conference on Transparency in Dialogue between Corporations and Investors
Major themes identified in the conference include the move towards more practical implementation with lessons learned about XBRL filings from public companies, the SEC and the audit community.

Wells Fargo/Gallup Survey: Small Business Owners Re-Think Technology Usage As They Navigate Tough Economy
Over half of respondents reported having delayed technology purchases due to the economy, including purchases of new computers, new hardware and new software. However, there is a narrow percentage who report accelerating purchases in order to cut costs or build efficiencies.

November 23, 2009
IRS Issues Proposed Regulations on Reporting Requirement for Payment Card and Third-Party Payment Transactions
The IRS issued proposed regulations under a new statute requiring that, starting with transactions in calendar year 2011, the gross amount of payment card and third-party network transactions be reported annually to participating merchants and the IRS.

KPMG Offers Year-End Tax Considerations for Businesses of Every Size
As companies continue to focus on controlling costs and preserving cash in the continuing difficult economy, KPMG LLP, the audit, tax and advisory firm, presents some federal tax considerations for businesses of all sizes that may help conserve or generate much-needed cash flow.

Better Buys for Business Selects Fujitsu Scanners as "Editor's Choice" in Scan-to-File Guide for 10th Consecutive Year
Leading guide for office equipment awards eight Fujitsu scanners, highlighting the company in nearly every product category.

Shop 'Til You Drop ... But Not On the Clock
Accountemps® survey: Only one in five employees will shop for holiday gifts at work.

November 21, 2009
House Panel Eases Threat to FASB Independence
The House Financial Services Committee on Thursday removed language from an amendment to the proposed Financial Stability Improvement Act (FSIA) (H.R. 3996) that would have given a new systemic risk regulator power to oversee FASB standard-setting activities.

November 20, 2009
U.S. House Panel Approves a Toned-Down Accounting Proposal
Proposal to allow a systemic risk council of regulators to offer advice about accounting rules that could pose problems to the broader marketplace.

Most Businesses May Take Advantage of Expanded Loss Carryback Option Under New IRS Procedure
Most businesses may use losses incurred during the economic downturn to reduce income from prior tax years, under a revenue procedure issued by the IRS.

CCH Updates Briefing on Tax Provisions of Health Care Reform Legislation
With the unveiling of health care reform bill, CCH has updated its Special Tax Briefing on the tax provisions of health care legislation.

November 19, 2009
CCH Briefing Details Tax Provisions of Senate, House Health Care Reform Bills
With the November 18 unveiling of the Senate’s health care reform bill – the Patient Protection and Affordable Care Act – CCH has updated its Special Tax Briefing on the tax provisions of health care legislation, detailing differences between the Senate bill and the House version of health care reform – the Affordable Health Care for America Act .

IFAC Presses for Action to Adopt and Implement Global Financial Standards
The International Federation of Accountants' (IFAC) Council meeting emphasized the urgency of achieving global adoption and implementation of financial standards, especially for accounting and auditing.

Economic Recovery Imminent, But Companies Lack Ability to Lead, Recruit and Retain, Says Aon Consulting
Health and benefits costs serve as the greatest business risks.

Economic Pressures Drive Steep Increase in Business Fraud
According to PricewaterhouseCoopers' Global Economic Crime Survey 2009, nearly one in three organizations around the world reported they were the victims of economic crime during the past 12 months.

XBRL US Labs Issues Call for Research Partners
Call for Research Partners to expand research and development projects already underway to develop taxonomies (digital dictionaries) for corporate actions, proxy and governance, and asset-backed securities.