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February 26, 2009

Publisher's Note An accountant in Georgia told me about a conversation he had with one of his manufacturing clients last week.  While discussing this company’s solid 2008 performance, this client mentioned to his CPA, “The biggest reason companies fail is because they take their eye off the oak tree.”  Apparently this CFO at the manufacturing company had long ago read about a young boy plowing on his farm and the story stuck with him.  The boy would never look at the ground while plowing; he would aim for a row of oak trees and then plow a straight line as a result.    We all have our tips and tricks to help us remain focused and committed to achieving our respective goals.  This “oak tree thinking” helped the manufacturing CFO be successful and breed a competitive, innovative company.  What is your “oak tree?” Rob Nance Publisher AccountingWEB, Inc. publisher@accountingweb.com The Profit Equation User Views on Fair Value, More Market to Your Clients! Why I'm Excited About Convergence Questions & Advice Form 982 My house was forclosed on (Form 1099-A) and I was wondering if I am allowed to file form 982, for Mortgage Forgiveness or does it have to be forgiven by the Lender? Add your input! Featured Jobs Financial Analyst Systems and Processes Epic Systems Corporation Madison, Wisconsin Deputy Treasurer Town of Cary Cary, North Carolina

Featured links Conduct Audits of Income Tax Basis Financial Statements effectively and efficiently Live Web Demo: Workflow and compliance tools for tax and accounting professionals First Research Individual Industry Profiles - FREE Sample Top News UBS is pressured to turn over Swiss tax shelter client names Last week, the Securities and Exchange Commission filed an enforcement action against global financial services firm UBS AG, charging the firm with acting as an unregistered broker- dealer and investment adviser. Now we wait to see if UBS will turn over the names of 52,000 clients who may be evading taxes by hiding money in Swiss bank accounts. more >> Former BDO Seidman partner pleads guilty in multi-million dollar tax shelter scheme "Tax avoidance" teacher unable to avoid years in prison A Conversation with Barry Goldwater: Handling High Net Worth Clients Conduct Audits of Income Tax Basis Financial Statements effectively and efficiently with these NEW practice aids! This new product is unique because these practice aids are designed for very specialized audits. Based on the PPC’s Practice Aid format used by thousands of firms, these practice aids contain extensive practical considerations and tips throughout to help you conduct these audits effectively and efficiently. Featured Articles Home buyers can claim 2009 tax credit on 2008 tax returns The Internal Revenue Service has announced that taxpayers who qualify for the first-time homebuyer credit and purchase a home during 2009 prior to December 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year. more >> H&R Block backs off on anti-CPA advertising PCAOB issues staff Q&As on registration of auditors of nonpublic broker-dealers U.K. accounting software firm seeks U.S. development partner Free Demonstration: Streamlining Corporate Workflow Processes Find out today why successful businesses rely on CCH as their strategic partner for time-saving income tax compliance software and workflow management tools. In less than an hour, you’ll learn how to streamline your workflow and improve your compliance processes by using the integrated CorpSystem suite. Register Now! Firm/State/People News IGAF firms interview with Marc Elman, Managing Partner of PSB Boisjoli PSB Boisjoli LLP's origins as a Montreal, Quebec-based accounting firm trace back to the 1930s. After experiencing annual double digit growth since 2000, the firm completed a merger in early 2008 with Boisjoli Sabbag, another Quebec based French firm, resulting in the merged entities' further penetration into the francophone market. more >> LBMC announces formation of Managed Security Services, LLC Beard Miller combines Pittsburgh offices Meyers Brothers Kalicka, P.C. has successful peer review First Research Individual Industry Profiles Covering over 300 industries and updated every 90 days, First Research INDUSTRY PROFILES do the “heavy lifting” for you – saving you valuable research time, increasing confidence on sales calls and giving you the competitive edge to win more business. Click Here to see a sample profile! Has Outlook blocked your images? If you need to right-click one of the images in this e-newsletter to see the pictures it's easy to set up AccountingWEB.com as a 'safe sender' so you don't have to do this every time you receive an e-newsletter. Select the Actions-Junk Mail menu and pick either the 'Add Sender' or 'Add Sender's Domain' option.

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