Leadership and management skills that are do-able by every leader and manager …….. read how-to
Excerpt: “The Invisible Elephant” refers to the notion that most leaders are unaware that their treatment of others goes a long way towards determining a leader’s performance – and that of the company. Leadership goes far beyond financial and strategic decisions to steps that might seem simple, such as how a leader greets others, how a leader listens and shows empathy, according to the report, published by Tomorrow’s Company through a partnership that included CIMA and the AICPA. ….
The report guides a journey from “ego-based, as-usual” leadership to “transpersonal” leadership, a quality marked by someone who considers the needs of all stakeholders. It offers seven tips on becoming a more emotionally intelligent leader:
Read full article via Seven steps to “transpersonal” leadership. From CGMA
A small business update on work for small business GAAP as it has been labeled. Of-interest, need-to-know and news-to-watch. Accounting
Excerpt: The reporting framework the AICPA is developing for small and medium-size private companies, which will blend accrual income tax methods with other traditional methods of accounting, will be exposed for public comment this fall and is expected to be ready for use in 2013.
In May, the AICPA announced plans to develop a financial reporting framework for small and medium-size private entities that are not required to prepare U.S. GAAP financial statements. The framework is being designed to be less voluminous and simpler than U.S. GAAP, allowing companies to save money on preparation while still providing banks and other financial statement users the information they need.
Read full article via AICPA reporting framework for SMEs expected early in 2013. From Journal of Accountancy
An update on the GAAP for small business / private company .. and news-to-watch.
Excerpt……CFOs and their tax departments at privately held companies will no longer be faced with the difficult and costly task of applying public accounting standards to their situations. The Financial Accounting Foundation (FAF) today established a new council to improve standard setting for private companies.
Read full article……via private company accounting GAAP FASB AICPA FAF. From CFO.com
Small business need-to-know and of-interest…….I think we can also add news-to-watch.
Excerpt…….Business valuation (BV) reports frequently include information presented in the form of financial statements. The reporting requirements for such financial statements have drawn increased attention as a result of the issuance of Statement on Standards for Accounting and Review Services No. 19 (SSARS 19), Compilation and Review Engagements.
When conforming the existing SSARSs Interpretations to SSARS 19, the Accounting and Review Services Committee decided to withdraw an interpretation related to financial information in BV reports. It has become evident, based on questions the AICPA has received, that the move sparked some confusion. While many practitioners thought that an exception had been removed, the truth is nothing changed.
Read full article..via Compilation reports for valuation engagements?. From Journal of Accountancy