For news from the AICPA and state societies, visit www.cpa2biz.com , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites.
The AICPA staff issued two technical practice aids (TPAs) (
www.aicpa.org/members/div/acctstd/ ) on the applicability of FASB Interpretation no. 45, “Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others” (
www.fasb.org/st/summary ). TPA 6400.45 addresses physician loans, and TPA 6400.46 discusses mortgage guarantees. Practitioners are encouraged to implement the guidance as soon as possible.