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  • Accounting scandals change face of finite:- Roughly five years after finite reinsurance was tarnished by high-profile scandals, coverage by that name is no longer being written, though similar products continue to exist.

    In 1993, the Financial Accounting Standards Board stepped in and said there must be a reasonable chance of a significant loss for a transaction to be accounted for as insurance. Absent the risk transfer, such contracts were supposed to be booked as deposits... read more

  • An Update on Accounting for Uncertainty in Income Taxes:- FASB implementation guidance addresses pass-through entities and tax-exempt not-for-profit organizations. Preparers of private company and not-for-profit organization financial statements will have to implement provisions of Topic 740 of the FASB Accounting Standards Codification (ASC) relating to accounting for uncertainty in income taxes (formerly FASB Interpretation no. 48, commonly known as FIN 48) for annual financial statements for periods beginning after Dec. 15, 2008. This article addresses some considerations in implementing Topic 740 relating to accounting for uncertainty in income taxes, with an emphasis on pass-through entities and tax-exempt not-for-profit organizations... read more

  • Dubai Debt - Accounting, Economics, Islamic Banking and the Rules of Finance:- The Middle Eastern countries and Islam do not believe in interest -money is not an asset and cannot have a cost (interest). It can only be traded in relation to some commodity. The present crisis has shown that if a cost is not attributed to money then the result is a crisis. In this analysis I look at the effects of the Dubai debt crisis in relation to accounting rules... read more

  • General Ledger Accounting Software:- General Ledger Accounting Software Financial accounting and inventory management Software is an innovative and fully featured financial program for accurately managing the entire organizational accounting details with barcode support... read more

  • Accounting Rule Changes Loom:- With new FASB accounting rules about to take effect, the regulatory agencies are running out of time to give relief to banks that may suddenly be required to raise huge amounts of capital. The new accounting rules, adopted by the Financial Accounting Standards Board in June, prevent most securitizations from being treated as off-balance sheet sales.

    The Risk Management Association Capital Working Group, in comments submitted last month, noted that the FAS 166 and FAS 167 accounting changes "would cause several trillion dollars of financial assets now residing in bankruptcy remote vehicles (special purpose vehicles or SPVs) to be added to the balance sheets of banks."... read more

  • Online accounting degree:- If you are planning to upgrade your knowledge, and therefore your work options, online seminars and education might be a good option for you. One of most essential online degrees most business people can afford is a certified online accounting degree. The reason for this is that the knowledge it provides can immediately affect your work and also your business in every single area.

    Nowadays good and reliable accountants are essential. Since they are in such high demand, their number is constantly growing. Overall this is one profession that is becoming more and more needed, as well as appreciated. Plus, it is also generally well rewarded financially.... read more

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