Professional Issues

BY STANLEY ZAROWIN

PROFESSIONAL ISSUES
The Financial Accounting Foundation, which oversees FASB and GASB, generated $41.6 million in revenue in 2006, according to the organization’s annual report, a 7.5% increase from the previous year. Net assets were $57.5 million as of Dec. 31, 2006.

Revenue streams included FASB accounting support fees collected from approximately 8,800 registered companies. Those fees totaled $22.4 million, up from $20.2 million in 2005. Publication and subscription revenue climbed to $17.1 million, up from $14.1 million the previous year.

The foundation spent $25.8 million on salaries and benefits in 2006, a 6.2% increase from the previous year.

SPONSORED REPORT

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.

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A closer look at threats to CPA licensure

Legislation in states around the country could put CPA licensure in danger. This episode examines what practitioners need to know to help ensure the profession is protected.