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 ( ). 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.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.