Accounting


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FASB and the International Accounting Standards Board (IASB) published a draft version of the first two chapters of an enhanced conceptual framework for improving the foundation and concepts underlying global financial reporting ( www.fasb.org/draft/pv_conceptual_framework.pdf ). The document is the initial result of the boards’ joint effort to replace their respective existing frameworks with a common approach. The draft chapters define the objective of financial reporting and the qualitative characteristics of financial information useful for making decisions. Future chapters will address technical definitions, as well as the measurement, recognition and presentation of information in financial statements. Comments are due November 3, 2006, and will be considered for an exposure draft to be issued in 2007.

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VIDEO

Excel walk-through: Sparklines

Want to liven up your spreadsheets with some color and graphical elements? Kelly L. Williams, CPA, Ph.D., shows how to use Excel sparklines, which illustrate data trends and patterns via small charts that fit in a single Excel cell.