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Financial Leadership Forum


28 Percent of Major Public Companies Fail to Fully Comply with FIN 48

More than one-quarter of large public companies are not meeting the disclosure requirements for tax reserves required by FASB's FIN 48.
Analysis of annual reports filed with the SEC in the first-quarter of 2008 by more than 600 companies whose revenues exceed $2 billion shows that more than 28 percent of them did not fully meet the disclosure requirements of FIN 48, according to a comprehensive report prepared by Seigel & Associates, LLC.

 

Filing Extensions Changing for Some Business Taxpayers Later this Year

The Internal Revenue Service announced a change in the extended due date on certain business returns to help individuals better meet their filing obligations. The change, which reduces the extension period from six to five months, eases the burden on taxpayers who must report information from Schedules K-1 and similar documents on their individual tax returns.

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IRS Increases Mileage Rates

Due to rising gas prices, the IRS has increased the mileage rate by eight cents to 58.5 cents a mile for all business miles driven from July 1 through Dec. 31, 2008.

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XBRL: It's Coming

From the July issue of California CPA magazine : As more and more companies adopt XBRL as a means of creating and submitting financial statements, it is increasingly important that Forum members be up to speed on the latest advancements.
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Forum Events

Advanced Financial Reporting and Analysis
This intensive 3-day workshop provides participants with effective and proven tools and techniques to detect and undo accounting distortions.
Sept. 19, 20 and Oct. 3;
Register for all 3 days now and save!
Sept. 19 only
Sept. 20 only
Oct. 3 only

Webinars:
FASB Private Company Financial Reporting Initiative
Monday, Aug. 18
Noon–1 pm
Accounting for Stock Options and Stock-Based Compensation Under SFAS 123R
Tuesday, Aug. 19
10 am–Noon

About The Forum

The Financial Leadership Forum is committed to ethical responsibility, excellence, strategic innovation and best practices in financial and business management. The Forum supports financial leaders and executives through powerful advocacy, thought leadership, executive education and essential resources.
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Membership Criteria

Membership is open to business and finance professionals who are CalCPA members. For professionals who are not yet CalCPA members, please visit www.calcpa.org/join .