Dear Subscriber

This week in the E-zine: The FASB and IASB move forward with a project that would alter financial statements; we take a look at the new faces of the SEC; the state tax commissioner discusses the impact of budget cuts at a recent FAE conference; and we preview two NYSSCPA special events – a breakfast briefing on tax treatments for Madoff victims and an evening session explaining the Accountancy Reform Bill.

The NYSSCPA E-zine staff will continue to cover and report on these topics that are important to New York area CPAs. Further, staff members of the Society and FAE also stand ready to help with questions on CPE and FAE courses, conferences and seminars.

Thank you for your continued interest.

Sincerely,

NYSSCPA.org Web Site Staff

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Joint FASB/IASB Project Kicks Into High Gear

NEW YORK -- Now that it has upheld fair value accounting, the Securities and Exchange Commission (SEC) is pushing the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to complete a two-year-old Financial Statement Presentation Project.

Who’s Who at the SEC

WASHINGTON -- Since Mary Schapiro became chair of the Securities and Exchange Commission (SEC), there have been more than a few resignations and appointments.

Budget Woes Hit Tax Department

NEW YORK -- Most taxpayers applaud cuts in government spending, but when those cuts lead to a reduction in toll-free calls to the tax department, or when those same calls are answered by a computer instead of a human, experiences like those can put budget cuts in perspective.

Are You a CPA in Industry? Tune In on Feb. 23

NEW YORK -- Beginning July 26, thousands more CPAs licensed in New York state, including those working in private industry, will be required to register with the state as a CPA practicing public accountancy.

NYSSCPA to Host Breakfast Briefing for Madoff Tax Issues

NEW YORK -- You’re a CPA tax practitioner with clients who lost money with Madoff. What exactly should you do?

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