CPAnet - Accounting Zone

Today's Accounting Crop: Spoiled Rotten?

"Finance chiefs try to cope with a new cadre of finance and accounting employees who just can't sit still. Enter the "millennium generation" of finance and accounting professionals. Born in 1982 and later, they're high-maintenance types, requiring a great deal of hand-holding, mentoring, and immediate attention. Even after all that parental supervision, they can be incredibly fickle, choosing to stay at your company just until a better-paying, faster-growing offer comes along. Some may throw a tantrum if they feel like it..."
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Source: CFO.com

For CFOs, Green Is the Color of Money

"Finance chiefs are viewing environmental and sustainability efforts through a new prism: profiting from saving the planet. Sustainability issues are moving from a risk management focus to a revenue generation opportunity. That is, executives are moving away from a defensive posture, based on mitigating environmental cleanup, legal, and reputational risks, and taking the offensive, said several CFOs who addressed the topic at an industry meeting on Wednesday..."
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Source: CFO.com

Businesses get boost from stimulus package, too

"By now, it's no secret that taxpayers will have a few extra dollars in their pockets come May. Lesser known is the fact that businesses will also benefit from the Economic Stimulus Act of 2008. According to the IRS, the business-based incentives include "a special 50-percent depreciation allowance for 2008 purchases and an increase in the small business expensing limitation for tax years beginning in 2008..."
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Source: CPA Success

CFO Turbulence: More SOX Fallout

"Saw this post yesterday at Guerilla Marketing for Consultants and it caught my eye. I'd mentioned The Changing Roles of CFOs back in March of 2006, but when I saw this story again, I couldn't help but think of the startling parallel with defections in public accounting firms, as well. 

CFOs Are Restless
CFOs are jumping ship in record numbers. According to a study by Liberium Research, in 2006, more than 2,300 CFOs of public, North American companies bailed out. That's a 23 percent rise from 2005..."
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Source: Golden Practices | Guerilla Marketing for Consultants

A Refined Approach to SOX 404

"The Section 404 guidance from the Securities and Exchange Commission (SEC) and the revised auditing standard from the Public Company Accounting Oversight Board (PCAOB) have allowed companies and auditors the opportunity to further refine their approach to compliance. The resources below can help your company leverage Sarbanes Section 404 compliance requirements for business improvement..."
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Source: Deloitte

Why Sarbanes-Oxley Hasn't Led To a Rise in Minority Directors

"Veteran director Dennis Hightower had high hopes for the Sarbanes-Oxley Act. That law and other corporate-governance revisions of recent years put boards under pressure to revamp their recruiting processes and look outside traditional networks for new, independent members. And that, Mr. Hightower figured, could mean more board seats for African-Americans like himself..."
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Source: CareerJournal