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SmartPros Accounting Homepage New Feature: Part II: 2011 Annual Report Preview: Financial Changes on the Horizon By Jim Brendel, CPA, CFE In the first part of this series, I reviewed seven changes to 2011 annual reports that will affect public companies. In this article, I review another seven major changes being seriously considered on the financial reporting horizon. Read Part 1  NEW CPE FROM FMN ONLINE: Cyber Terror and Cyber Risk: What You Need To Know By increasingly relying on digital technologies and networks to conduct their operations, at a time when cyber attacks are more frequent and more severe, companies are subject to a heightened level of risk. Kroll's Alan Brill examines recently released SEC guidance on your disclosure obligations related to cybersecurity risks and cyber incidents. Register today    SmartPros:  Check Out Our Fall Promo Video!! 3rd Quarter 2011 Financial Results Investor Relations Weekly Newsletter Newsletter Subscriptions Online CPE Catalog Other Top Stories:   1.  2011 Annual Report Preview: Seven Changes Your Company Needs to Know 2. Employers Face IRS Crackdown on Contractor Classification 3. Key Numbers to Have When Filing Tax Returns

Inside SmartPros: This Week in the SmartPros News & Insights Newsletter For Small Businesses and Taxes, It's the Year of the 1099s ... Feature: 2011 Annual Report Preview: 7 Changes Your Company Needs to Know ... CPE: Information Reporting: Coping with Changes ... Book: Practical M&A Execution and Integration

News & Insights

Low Interest Rates Here to Stay, Says U.S. Central Bank American interest rates will remain close to zero until at least 2014, the US central bank the Federal Reserve announced last night. Companies Worry About SEC's Advice to Disclose Cyberthreats Deluged by cyberattacks they've mostly hidden from the public, companies in Silicon Valley and elsewhere are being prodded by federal regulators to finally fess up to this fast- growing threat to their businesses and their customers. House Bill Could Effectively Kill Valuable SEC Whistleblower Program A House bill that would make major changes to the Securities & Exchange Commission's new whistleblower program would essentially kill an important enforcement tool for protecting shareholders, says Phillips & Cohen LLP. Get Help Setting a Plan to Repair Finances Planning your life, or even a weekend getaway, can be daunting. But without a road map of some kind, it's hard to get there from here. That's why financial planning is important. Here are sites to help on the journey. FASB Publishes Proposal for Impairment of Indefinite-Lived Intangible Assets The Financial Accounting Standards Board (FASB) today issued for public comment a proposed Accounting Standards Update on indefinite-lived intangible asset impairment testing that is intended to simplify impairment assessment and reduce the recurring costs to comply with existing guidance while improving the consistency of testing methods among long-lived asset categories for preparers. Financial Reporting Changes on the Horizon In the first part of this series, I reviewed seven changes to 2011 annual reports that will affect public companies. In this article, I review another seven major changes being seriously considered on the financial reporting horizon. Harvard Business School Survey Reveals Deepening U.S. Competitiveness Problem Survey of nearly 10,000 alumni incorporates opinions of global executives in leadership and decision-making roles -- 71 percent of whom expect U.S. competitiveness to decline over the next three years. What to Expect from the CPA Exam Tax Executives Unsure About Business Impact of IRS 'Repair Regulations' Tax executives are unsure what impact the IRS's recently released "Repair Regulations" might have on their businesses, but they expect the new rules to be more difficult to administer or comply with in practice, according to results of a survey conducted by KPMG LLP. Prepare Your Company Domestically Before Growing Globally Need an antidote for shrinking domestic markets? Consider international markets. They offers unparalleled opportunity for growth, increased sales, diversified markets and increased profit or successful businesses. Unfortunately, many U.S. companies gaze with trepidation at the process and surrender to fear before making an earnest effort.

Spotlight

FREE CPE: XBRL: Long Anticipated, Now Required The third phase of the SEC's interactive data disclosure program took effect this month, with nearly all public companies now required to submit their data in the fully searchable, digital format known as XBRL. Joseph Howell, managing director at WebFilings, reviews how businesses are complying with the SEC mandate and predicts how companies will adapt the XBRL technology for their own internal needs. SmartPros Price: FREE! - Sponsored by WebFilings CPA Report Online Subscribe to the top online CPE program for public accountants. CPA Report Online covers the latest events impacting public practice. SmartPros Price: Courses: $59.98 - Subscriptions: $409 FMN Online Subscribe to the program that more than half of the Fortune 500 trust for CPE. Stay up to date on Sarbanes-Oxley and other key events impacting corporate finance. SmartPros Price: Courses: $69.90 - Subscriptions: $429

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