The fast-growing number of tax-exempt organizations are now subject to several new reporting requirements and penalty taxes. Many of the changes are retroactive to September 14, 1995. Revenue estimates of $33 million over the period 1996 to 2002 mean an aggressive enforcement effort can be expected.

For companies that must apply FASB Statement no. 115, Accounting for Certain Investments in Debt and Equity Securities, there's an easy way to update the prices of the securities and provide the market value data needed for financial statements.

The AICPA Center for Excellence in Financial Management, organized to help CPAs meet the demands of their growing role as strategic business advisers, will serve as a clearinghouse for all programs, products and services that support the 140,000 members in business and industry.

Squeeze Play
Robin Cooper

For companies that must apply FASB Statement no. 115, Accounting for Certain Investments in Debt and Equity Securities, there's an easy way to update the prices of the securities and provide the market value data needed for financial statements.

Bringing The Factory to the Classroom
Cathleen S. Burns and Sherry K. Mills

Here's an award-winning way to teach students about the importance of management accounting using LEGO building materials. The results are more than just fun and games.

For Further Reading

A resource list for those who want to learn more about business and industry issues.

A statistical profile of companies with world-class finance departments allows for a comparison of their performance with that of companies that still do business the old-fashioned way.

Finance Transformation: Making It Work
Christine A. Gattenio

How do you sell the benefits of change within an organization? This article offers a guide to earning the employee support needed to implement more efficient finance and accounting methods.

A Smarter Way To Run a Business
Eileen Morrissey and Gary Hudson

Using two management tools-activity-based management and performance measurement—a company can get a better handle on its business operations, reducing costs and boosting profits. The two tools, when used together, also help a company stay focused on its strategic targets.

Case Study: How one CPA uses workshops to sell change in his company.