FYI


The Financial Accounting Standards Advisory Board issues Implementation Guide to the Statement of Financing in Statement of Federal Financial Accounting Standards No. 7, Accounting for Revenue and Other Financing Sources and Concepts for Reconciling Budgetary and Financial Accounting ( www.fasab.gov/pdf/ig7sof.pdf ). It illustrates concepts underlying the statement of financing, in which federal agencies explain the difference between the budgetary accounting system’s net obligations and the proprietary accounting system’s net cost of operations.

Illinois CPA Society President and CEO Martin Rosenberg, CPA, retires after 24 years in office. From 1968 to 1976 Rosenberg held various AICPA management positions in the areas of examinations and education, state society relations and in professional ethics, where he helped develop and implement the profession’s national joint ethics enforcement plan.

The Association of Certified Fraud Examiners names Toby J.F. Bishop, CPA, CFE, its president and chief executive officer. Previously, Bishop headed Andersen’s fraud research and development division.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.