Product and service updates from leading vendors
and suppliers to the accounting profession.

August 2, 2012
AICPA Offers Free Consumer Webinar on Planning for Long-Term Care
The AICPA through its Personal Financial Planning Division and 360 Degrees of Financial Literacy program will host a free consumer webinar on Tuesday, August 7 providing straightforward insight into long-term care, including the options and impact of a long-term-care event with and without a plan.

Thomson Reuters Report: Number of Global Indirect Tax Changes Nearly Quadrupled in Q2, Increasing Taxes on Consumers and Administrative Burden on Business
Worldwide, there were 379 percent more indirect tax changes in the second quarter of 2012 than there were during the same period in 2011, according to the latest ONESOURCE Indirect Tax rate report from Thomson Reuters.

Grant Thornton LLP Admits 27 New Partners and Principals to the Firm 
Grant Thornton LLP admitted 27 new partners and principals to the firm, effective August 1. These partners and principals are based throughout the firm’s offices across the country. In addition, the firm has promoted 34 professionals to managing director.

The Nation’s Top Educators Awarded at Microsoft Partners in Learning U.S. Forum
Sixteen U.S. teachers honored for inspiring student learning and impacting positive change through technology in the classroom.

SEC Charges Bristol-Myers Squibb Executive With Insider Trading in Stock Options of Potential Acquisition Targets
The SEC alleges that Robert D. Ramnarine, who lives in East Brunswick, N.J., made more than $300,000 in illegal profits by misusing nonpublic information he obtained while helping Bristol-Myers Squibb evaluate whether to acquire three other pharmaceutical companies.

SAP CRM Rapid-Deployment Solution for Citizen Contact Center Helps Cities Run Better Than Ever
SAP AG (NYSE: SAP) today announced the release of the SAP CRM rapid-deployment solution for citizen contact center as part of the SAP Urban Matters program. The solution, now generally available, helps simplify and accelerate the implementation of a government multi-channel contact center, enabling governments to provide services and information to citizens in a consistent manner while providing the highest levels of customer service. The solution also allows governments to more efficiently manage and monitor their organizations and operations.

KPMG’S Harley Duncan Recognized for Leading Contributions To Tax Industry
Harley Duncan, a State and Local Tax managing director in the KPMG's Washington National Tax practice, has been recognized by the Federation of Tax Administrators (FTA) and the Institute for Professionals in Taxation (IPT).

Bang & Olufsen Hears the Sound of Savings With Office 365
Luxury audio systems maker expects to save 82 percent in IT operations with Microsoft solution.

August 1, 2012
AICPA Recommends IRS Delay Matching of Documents Reporting Capital Gains and Losses
AICPA recommended that the Internal Revenue Service delay matching the basis information the law requires brokerage firms to report about taxpayers’ capital gains and losses with what taxpayers report on their income tax return.

IAESB Proposes Revised Standards on the Development of Technical Competence and Professional Skills
The International Accounting Education Standards Board (IAESB) today released for public exposure proposed revisions of International Education Standard (IES) 2, Initial Professional Development—Technical Competence, and International Education Standard (IES) 3, Initial Professional Development—Professional Skills.

Funding Constraints Driving Agency Reorganization Planning
Communication and transparency identified as specific factors for more effective reorganization.

U.S. Private-sector Employment Increased by 163,000 Jobs in July, According to ADP National Employment Report
The ADP National Employment Report, created by Automatic Data Processing, Inc. (ADP®), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month. The estimated gain from May to June was revised down slightly, from the initial estimate of 176,000 to 172,000.

Thomson Reuters Tax & Accounting Professional Segment Reports Strong Sales Growth
Tech advances, new products, and increased firm spending fuel gains.

Supply Outweighs Demand for Oil, While Gas Is the Growth Story for Rest of 2012
The next six months should see over supply in the oil market with increased production from Libya, Iraq and US shale keeping oil prices flat according to Ernst & Young’s Quarterly Oil and Gas outlook.

July 31, 2012
FASB Seeks Input on Private Company Decision-Making Framework
The Financial Accounting Standards Board (FASB) today issued an Invitation to Comment on a staff paper that outlines an approach for deciding whether and when to modify U.S. Generally Accepted Accounting Principles (GAAP) for private companies. The paper, Private Company Decision-Making Framework: A Framework for Evaluating Financial Accounting and Reporting Guidance for Private Companies, contains initial FASB staff recommendations for criteria to determine whether and in what circumstances it is appropriate to adjust financial reporting requirements for private companies following U.S. GAAP. Stakeholders are asked to provide input on the document by October 31, 2012.

KPMG Cited As a Business Technology Transformation Leader by Independent Research Firm
KPMG LLP, the audit, tax and advisory firm, has been cited as a category leader in the third quarter 2012 Forrester Wave™ “Business Technology Transformation” report.

Deloitte Survey: Back-to-School Shoppers Ready to Spend, Prepared for Higher Prices at Checkout
Consumers’ days of cutting back-to-school spending are behind them, and shoppers are reverting to more traditional information sources to study up before heading to the store, according to Deloitte’s annual “Back-to-School” survey, released today.

SEC Recommends Improvements to Help Investors in Municipal Securities Market
The Securities and Exchange Commission today issued a comprehensive report with recommendations to help improve the structure of the $3.7 trillion municipal securities market and enhance the disclosures provided to investors.

Ernst & Young LLP’s Headquarters Goes Green With Lighting Retrofit Project
Times Square office retrofits 32 floors with energy-efficient lighting to reduce CO2 emissions.

July 30, 2012
Wolters Kluwer Tax & Accounting Announces Karen Abramson As New CEO for CCH in North America
Wolters Kluwer Tax & Accounting, the global leader in tax, accounting and audit solutions, today announced the appointment of Karen Abramson as president & CEO of CCH, a Wolters Kluwer business, effective September 2012. Abramson is an industry leader with a track record of growing businesses. Most recently, she served as CEO & President of Wolters Kluwer Health, Medical Research. Highly focused on customer needs, Abramson created new revenue growth by driving deep customer engagement across the business and developing innovative online and mobile solutions.

Federal Chief Financial Officers are charting a course through stormy seas, says survey 
The Association of Government Accountants (AGA) and Grant Thornton LLP today release the 17th annual survey of federal Chief Financial Officers (CFO). The survey discusses how CFOs use cost-cutting, performance management, and the drivers of high-performing organizations to help their agencies through today’s financial storms while continuing to produce results for the American public.

July 26, 2012
CCH Updates Back-to-school State Tax Holidays for 2012
As students head into the home stretch of summer vacation, shoppers in several states can expect sales tax breaks on the purchase of various school-related goods in upcoming weeks, according to CCH, a Wolters Kluwer business and a leading global provider of tax, accounting and audit information, software and services. States holding these “tax holidays” temporarily drop state sales tax collections on back-to-school items such as clothing, footwear, school supplies, computers and certain other products. However, local sales taxes may still be imposed in some communities.