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February 11, 2010    
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Publisher's Note
Rob Nance, Publisher Have you checked out what our Bloggers Crew has been writing lately? This bunch writes some captivating, thought-provoking, educational content where there's something for everyone. You will probably recognize some of the industry names, too. Joel Ungar is the newest member of the Bloggers Crew, mixing right in with longtime members such as Sally Glick and Captain Excel.

Also, in the coming weeks we anticipate announcing our first event that will involve several Bloggers Crew members. Stay tuned and get ready to make travel plans for early December!

Finally, in recognition of the weekend festivities surrounding Valentine's Day and Chinese New Year, we have published some light holiday-related articles. Be sure to add your fortune to the growing list of accounting fortune cookie sayings!

Rob Nance
Publisher
publisher@accountingweb.com
Top News
IRS wants businesses to disclose all uncertain tax positions
Top Secret File The Internal Revenue Service announced late last month in Notice 2010-9 that it is developing a schedule to be filed with the Form 1120, U.S. Corporation Income Tax Returns, "or other business tax returns," that will require certain business taxpayers to disclose and describe uncertain tax positions on their tax returns each year "in order to improve tax compliance and administration."
Recession takes aim at Cupid this year
Apparently not even Cupid is immune to the effects of the recession. Couples will spend 5.8 percent less on tokens of love this Valentine’s Day. They are expected to spend an average of $63.34 on their significant other, compared with $67.22 last year.
Public companies are getting the jump on XBRL adoption
XBRL US, the XML standard setter for business information reporting in the U.S., has announced that public companies are heeding the advice to "start early" in preparing for XBRL adoption, according to a joint survey with the American Institute of Certified Public Accountants (AICPA). Seventy-three percent of respondents said that they have begun preparations for adoption of XBRL. Most of those surveyed, 93 percent, had at least a basic knowledge of XBRL.
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Featured Articles
OSHA increases its emphasis on accurate recordkeeping
Nobody Gets Hurt Today!Now more than ever, it's important to dot the i's and cross the t's when it comes to reporting your employees' workplace injuries and illnesses. Recently, the Occupational Safety and Health Administration (OSHA) began sending inspectors to company offices and worksites to assess the accuracy of their injury and illness records.
Communication is essential to retaining clients
For accounting firms, showing clients some love – or at least that their patronage is appreciated – is not just for Valentine’s Day or tax time. Client retention and appreciation strategies are tools that should be employed year-round to cultivate healthy, profitable, and long-lasting relationships.
Career expert offers five tips for turning a temporary assignment into a full-time job
In today’s employment environment, temporary work continues to stand out as a bright spot. And, according to temporary financial staffing firm Accountemps, companies are beginning to turn these positions into full-time roles more frequently.
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Firm/State/People News
Accountants give their clients Chinese fortune cookies
Fortune CookieTax time is here. So is Chinese New Year! Is it fate? You decide! The Year of the Tiger begins on February 14. Steven West, a writer from Farmington Hills, MI, offers ten witty fortune cookie sayings from the mouths of accountants.
The answer to your company’s recession is in a cubicle down the hall
We love our secrets: our secret sauce, secret societies, the secret of our success, trade secrets, and our secret weapons. It is that one thing that sets us apart and all but guarantees our inevitable success. Your greatest secret weapon is…your accounts receivable department.
Reorienting orientation to fit generational needs
Firms and other organizations are still trying to figure out the newest generation in the workplace. The resolution will require, whether they like it or not, more attitude- and behavior-changing on the part of partners and senior managers than they are likely to get from Generation Y, at least once the economy turns up and there are greater opportunities again.
Accounting Best Practices, 6th Edition by Steven M. Bragg from Wiley Publishers
Accounting Best Practices, 6th Edition by Steven M. BraggExpenses can be drastically cut by simply implementing best practices. This new Sixth Edition of Accounting Best Practices - fully updated with 90 new best practices for Treasury Management, Billing, Accounts Payable, Payroll, and Inventory, plus new chapters on Credit and Collections - provides the latest information on advanced techniques and strategies to help increase productivity and reduce costs.
Blogs!
What do you have to say today?
Is accounting really boring, or has virtually the entire human race just been getting it all wrong since the beginning of time?!
I've noticed on Twitter a bunch of tweets from younger people complaining that accounting is boring....
Solar energy continued
Solar energy has long been interesting to Joe and me, but we don't do things because they are interesting and neat. We do them because they make economic sense. It appears that solar may now do that for us. You may want to look into it, too.
H&R Block and TurboTax Have It All Wrong
It is impossible to avoid the radio and television commercials for H&R Block and Turbo Tax this time of year. And they all pretty much have the same theme: We get you the maximum refund possible! They've got it all wrong
Sales Tax: Is Your Head in the Clouds? (Cloud Computing, that is)
The sales taxation of digital products and electronic commerce have become increasingly more important issues. As everyone knows, states are hurting for revenue, and since our economy has moved more and more towards electronic commerce, the states must figure out a way to tax it, or else lose out on much needed revenue.
Q&A
1040A - UK-based
I am a UK-based accountant attempting to complete 1040A. Are there any restrictions to stop a foreign accountant doing this for clients (U.S. citizens in the UK)? How do I complete a W-2 for an employee of a British company that obviously doesn't have an EIN?
Add your input!
Writing off accounts payable without the debt holders consent?
Outside consultants are not paid until we collect from clients for their services. We haven't collected, but a consultant considers the money due to him. I'm being pressured to allow a reversal of the accounts payable. Any comments?
Share your suggestions!
Kaplan Weekly Quiz
KaplanAre you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz.
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