Financial Reporting


A FASB report de-emphasizes “new economy” considerations and recommends cooperation among national and international standard setters to improve business and financial reporting. Comments are due by July 1 ( accounting.rutgers.edu/raw/fasb/sr_new_economy.pdf ).

FASB plans to issue final statements in July on business combinations and intangible assets. The new rules likely will require a two-step impairment test for goodwill writedowns ( accounting.rutgers.edu/raw/fasb/project/buscomsumm.html ).

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Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

Test yourself on these often confused words

The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.