SmartPros Accounting News & Insights May 12, 2008  Home | Member Services | News | Resource Library | Career Center | Professional Education | Marketplace | Investor Relations

IN THIS ISSUE NewsLine: Accounting Degrees Up 19 Percent; AICPA Proposes CPA Exam Changes Events This Week: Tax Talk Today Webcast; S&P Fair-Value Forum; New York CPA Show; AICPA GAAP Codification Webcast CPE Spotlight: Brand Protection: Fighting Counterfeits Book Pick: Cost of Capital: Applications and Examples, 3rd Ed. Short List: The Top Clicks From Last Week's Newsletter Web version | Archive & subscriptions | Email us    NEWSLINE Accounting Degrees Up 19 Percent; AICPA Proposes CPA Exam Changes The American Institute of CPAs announced that more than 64,000 students graduated with bachelor's and master's degrees in accounting in the 2006-07 school year, a 19 percent increase since the 2003-04 school year, when the AICPA last surveyed this data. The AICPA also issued proposed changes to the CPA Exam, including increased emphasis on ethics and the addition of International Financial Reporting Standards. Also in the News: Nebraska CPAs Can Renew Licenses Online Rebate Excludes Many Taxpayers With Foreign Spouses Next Generation of Biz Software Could Get More Fun House Passes Massive Homeowner Rescue Plan, Defying Bush Veto Threat FASB Issues GAAP Hierarchy Edit Excel Pivol Tables With Add-In Many Businesses Didn't Claim Tax Refund CPA Mobility Law Gains Momentum IRS Posts Stimulus FAQs NY Senate Votes to Eliminate State Gas Tax for Summer CCH Offers New Online Payroll Resource Financial Executives' Salaries Up 5 Percent XBRL Europe Organization Formed     EVENTS THIS WEEK Events This Week May's Tax Talk Today Features Electronic IRS The Internal Revenue Service's next Webcast on Tuesday, May 13 will provide the latest news and information on e-file, e-services and other electronic tools important to the practitioner community. S&P to Hold Fair-Value Accounting Forum As write-offs, markdowns and market volatility affect corporate fair-value accounting, Standard & Poor's will host a forum to examine whether the merits of the practice still hold within the current and future market environment on Thursday, May 15 in New York City. Top Speakers Highlight New York CPA Show Tracy Byrnes from Fox Business News and Mike Minto, an IRS special agent, are two of the featured speakers at the New York CPA Business & Technology Show & Conference on May 14 and 15 at the New York Hilton Hotel. AICPA to Host GAAP Codification Webcast The American Institute of Certified Public Accountants is hosting a free Webcast on Thursday, May 15, about the Financial Accounting Standards Board's new codification of generally accepted accounting principles.     CPE SPOTLIGHT NEW FROM FMN ONLINE: Brand Protection: Fighting Counterfeits 2 CPE credits, $59.95, or incl. with a subscription to FMN Online It is estimated that corporations are losing $400 billion in sales annually, as 'fake' and 'pirated' goods now account for 7 percent of all world trade. Steven Rucker, executive managing director at Kroll, details how corporations in general -- and financial executives in particular -- can use their data and their knowledge to protect their company and its brands from the pandemic of counterfeiting.    BOOK PICK Cost of Capital: Applications and Examples In this long-awaited third edition of Cost of Capital: Applications and Examples, renowned valuation experts and authors Shannon Pratt and Roger Grabowski address the most controversial issues and problems in estimating the cost of capital.    SHORT LIST The top clicks from last week's newsletter: 1. The Fair Value Problem (Op/Ed) 2. IRS Collects More in 2007 3. Amazon Sues NY Over Internet Sales Tax Collection 4. SOX Compliance Cost $1.7M, Audit Fees $3.6M in 2007 5. Accounting Today Names Top 100 Firms

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