International


The International Federation of Accountants (IFAC) released an exposure draft (ED) and several publications. The ED, Proposed International Public Sector Accounting Standard: Financial Reporting Under the Cash Basis of Accounting—Disclosure Requirements for Recipients of External Assistance, is intended to enhance transparency and relevance of disclosures about financial assistance to governments and other public sector entities. Comments are due June 15, 2005. IFAC also published a report, International Public Sector Accounting Standards (IPSASs) and Statistical Bases of Financial Reporting: An Analysis of Differences and Recommendations for Convergence, and released the 2005 editions of Handbook of International Auditing, Assurance, and Ethics Pronouncements and Handbook of International Public Sector Accounting Pronouncements. They’re available at www.ifac.org/store .

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A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.