MACPA E-News MACPA E-News
Headlines and Updates for MACPA Members  
April 20, 2009 Issue 467  
 

A new Economic Crisis Resource Center on the MACPA website highlights many MACPA resources available to members during these economically challenging times. The new web resource serves as a “central depository” of sorts, a place where members can quickly and easily find links to the latest economic news, ways to save money, tips and resources for finding a job, and how-to articles for managing various business challenges during a recession.

 
Will the Red Wings Need Game 5? Still Time to Get Discounted Tickets for Saturday’s Playoff Game
More Americans Concerned About Losing Their Jobs, Delaying Major Life Decisions Amid Recession: AICPA Poll
GASB Statement Codifies Accounting and Financial Reporting Guidance Contained in the AICPA Standards
Michigan Treasury Adds to MBT FAQs
PCAOB Issues Concept Release on Possible Revisions to the Standard on Audit Confirmations
Public Company Accounting Oversight Board Names New Chief Auditor
PAAdvisory - April 17, 2009: A weekly newsletter provided by PAA Associates, Inc., the MACPA’s lobbyist partner in Lansing.
 

 
Newly Added MACPA CPE Courses
 
Latest CPE Events on MBT
 
CPE Opportunities for Professionals in Business/Industry

 

Certified Financial Planner (CFP) Programs
 
Exclusive Opportunity for MACPA Members to Sit Down with the IRS Criminal Investigation Management Team
 
Stimulus Act of 2009 - Business & Individual Tax Breaks You Need to Know
 
Review Lessons Learned from the First Wave of MBT Returns and Recent MBT Legislative Developments
 
Discuss Changes to the MBT, Proactive Tax Planning Concepts and the New MBT Forms
 
Yellow Book, Accounting & Auditing and Ethics - Everything You Need Before the End of the Reporting Year
 
Find Out Why CPAs are Crucial to Detecting and Catching Criminals Responsible for Corporate Fraud


 

MACPA Members: Remember to customize your MACPA website homepage to obtain articles, upcoming CPE events and news specifically related to your specialty areas. Once you have updated your information in the Member Profile Section of the MACPA website, you will receive an individualized homepage each time you logon to the MACPA website, http://www.michcpa.org. For More Resources:
Logon to http://www.michcpa.org
 

 

Will the Red Wings Need Game 5? Still Time to Get Discounted Tickets for Saturday’s Playoff Game
MACPA members may still purchase discounted tickets for Saturday night’s Game 5 of NHL Round 1 Playoffs at the Joe Louis Arena. The Wings have scored victories in the first two home games, and now travel to Columbus for Games 3 and 4. It’s a best of seven series. If the Wings return to Detroit for a Game 5 on Saturday, April 25, MACPA members can take advantage of our special partnership with the Detroit Red Wings by saving on ticket prices while generating a substantial donation to support accounting scholarships! With $5 per ticket being donated back to the Michigan Accountancy Foundation, the total donation so far is more than $2,300! For more details and the link to get tickets while they last, members should log on to the MACPA website and visit the “Partners with Champions” page.
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More Americans Concerned About Losing Their Jobs, Delaying Major Life Decisions Amid Recession: AICPA Poll
Job security emerged as a top financial concern for Americans amid a 16-month U.S. economic recession, according to a poll conducted by Harris Interactive on behalf of the AICPA. Nearly five in 10 employed Americans – 47 percent – said they are “concerned” about losing their jobs soon. Fifteen percent said they were “somewhat” concerned and 10 percent said they were “very concerned.” Nationwide the U.S. unemployment rate is currently 8.5 percent, according to the Department of Labor, and is expected to rise. Read more.
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GASB Statement Codifies Accounting and Financial Reporting Guidance Contained in the AICPA Standards
The Governmental Accounting Standards Board (GASB) issued Statement No. 56, Codification of Accounting and Financial Reporting Guidance Contained in the AICPA Statements on Auditing Standards. This Statement incorporates accounting and financial reporting guidance previously only contained in the AICPA auditing literature into the GASB’s accounting and financial reporting literature for state and local governments. The Statement 56 guidance addresses three issues from the AICPA’s literature – related party transactions, going concern considerations, and subsequent events. Statement 56 is part of the GASB’s effort to codify all generally accepted accounting principles for state and local governments so that they derive from a single source. This is intended to make it easier for preparers of state and local government financial statements to identify and apply relevant accounting guidance. Read more.
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Michigan Treasury Adds to MBT FAQs
On April 16, 2009, the Michigan Department of Treasury released additional questions and answers on the Michigan Business Tax. The new FAQs are available online. The FAQs can be reviewed chronologically or by subject area.
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PCAOB Issues Concept Release on Possible Revisions to the Standard on Audit Confirmations
The Public Company Accounting Oversight Board (PCAOB) issued for public comment a concept release on possible revisions to the standard on audit confirmations, AU sec. 330, The Confirmation Process. Confirmation is an audit process by which an auditor obtains and evaluates a direct communication from a knowledgeable third party in response to a request for information regarding account balances, transactions or other items that comprise a company's financial statements. Read more.
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Public Company Accounting Oversight Board Names New Chief Auditor
The Public Company Accounting Oversight Board (PCAOB) has named Martin F. Baumann as Chief Auditor and Director of Professional Standards. Baumann joined the PCAOB in 2006 and was Director of the Office of Research and Analysis. The principal responsibility of the Chief Auditor is to advise the Board on the establishment of auditing and related professional standards. Baumann had a 33-year career at PricewaterhouseCoopers where he served as Deputy Chairman of the World Financial Services Practice, Global Banking Leader, and partner-in-charge of the audits of some of PwC’s largest clients. Read more.
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CPE By City

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Exclusive Opportunity for MACPA Members to Sit Down with the IRS Criminal Investigation Management Team
 

What: Exemplary Productivity Through Management
When & Where: May 5, 2009 - Livonia
Recommended CPE Credit: 2 Hours

 
Stimulus Act of 2009 - Business & Individual Tax Breaks You Need to Know
  What: Stimulus Act of 2009 Tax Legislation (4-hour am session)
When & Where: May 7, 2009 - Livonia
Recommended CPE Credit: 4 Hours
 
Review Lessons Learned from the First Wave of MBT Returns and Recent MBT Legislative Developments
 

What: Hands-On MBT: Lessons Learned from the First Wave of Returns
When & Where: May 8, 2009 - Livonia
Recommended CPE Credit: 8 Hours

 
Discuss Changes to the MBT, Proactive Tax Planning Concepts and the New MBT Forms
 

What: Michigan Business Tax: New Law, New Forms & Tax Planning
When & Where: May 11, 2009 - Traverse City
Recommended CPE Credit:
8 Hours

 
Yellow Book, Accounting & Auditing and Ethics - Everything You Need Before the End of the Reporting Year
  What: Governmental Accounting & Auditing Conference
When & Where: May 12, 2009 - Lansing
Recommended CPE Credit: 8 Hours (includes Accounting & Auditing and Ethics)

What: Early Bird Ethics: Common Ethical Inquiries
When & Where: May 12, 2009 - Lansing
Recommended CPE Credit: 1 Ethics Hour

OR

What: Governmental Accounting & Auditing Conference 2
When & Where: May 21, 2009 - Troy
Recommended CPE Credit: 8 Hours (includes Accounting & Auditing and Ethics)

What: Early Bird Ethics: Practical Application of Ethics and Decision Making in the Field
When & Where: May 21, 2009 - Troy
Recommended CPE Credit: 1 Ethics Hour

 
Find Out Why CPAs are Crucial to Detecting and Catching Criminals Responsible for Corporate Fraud
 

What: Anti-Fraud Issues Conference 
When & Where: May 13, 2009 - Livonia
Recommended CPE Credit:
8 Hours (includes Accounting & Auditing and Ethics)

What: Early Bird Ethics: Practical Application of Ethics and Decision Making in the Field
When & Where:  May 13, 2009 - Livonia
Recommended CPE Credit:
1 Ethics Hour

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