Investments
INVESTING AFTER 50
Phyllis J. Bernstein
Managing and selecting investments is hard enough in a turbulent market, but for those age 50 and over, the process can be even more difficult. Faced with the possibility of having to postpone or downsize their retirement plans, this group needs to pay attention to investment basics to safely weather the storm.

Technology Workshop
DATA MENUS AT YOUR FINGERTIPS
David C. Hayes, James E. Hunton and Robert D. Slater
Here’s how to add command buttons to an Access database to simplify your information storage and retrieval process.

Education
PRACTITIONERS AS MENTORS
Gerald P. Weinstein and Karen Schuele
School-sponsored mentoring programs can be a valuable resource for students who are considering a major in accounting. Practicing CPAs can offer individuals important insights to help them make the right career decisions.

In My Opinion
DEAR MR. CHAIRMAN
David M. Walker
In an open letter to the newly confirmed SEC chairman, the Comptroller General offers his views on what the commission must do to protect the public interest and better oversee U.S. financial markets.

The Fraud Beat
MONEY LAUNDERING: RING AROUND THE WHITE COLLAR
Joseph T. Wells
The trick for money launderers is to deposit currency into financial institutions without drawing the attention of authorities. If they succeed at this, they greatly reduce their chances of being discovered, unless alert and informed CPAs can recognize the telltale signs of criminal activity and uncover the schemes.

Business and Industry/Corporate Finance
REGULATION FD—COPING IN THE TRENCHES
Ed McCarthy
Since the SEC’s fair disclosure rules took effect, most public companies have found ways to comply. For those still unsure of what to do, here’s some compliance advice from CPAs who are CFOs, as well as feedback on the SEC’s first enforcement actions.

Performance Measurement Case Study
ACCOUNTABILITY BY NUMBERS
Deborah L. Kerr
The Texas State Auditor’s Office decided to use a balanced scorecard performance measurement system to better manage how it supplies vital financial data to state lawmakers. CPAs who consult to companies or oversee firm operations can follow this management case study to learn how the office implemented the system.

Auditing
THE AUDITOR’S APPROACH TO FAIR VALUE
Susan L. Menelaides, Lynford E. Graham and Gretchen Fischbach
The auditing standards board issued guidance on auditing GAAP fair value estimates entities report in their financial statements and the role of external valuation specialists in developing those estimates.

Insurance Issues
SPLIT-DOLLAR REDUX
Neil Alexander and Lawrence Brody
The IRS and Treasury Department continue to issue rules designed to narrow—and in some cases eliminate—the benefits of split-dollar insurance arrangements. CPAs need to advise clients carefully on how to proceed in the future in reviewing and then modifying or canceling these plans.