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SmartPros Accounting News & Insights February 13, 2012   Home | Member Services | News | Resource Library | Career Center | Professional Education | Marketplace | Investor Relations

IN THIS ISSUE Newsline: Inmates Describe Ease of Falling into White-Collar Crime Op/Ed: GOA: Facebook Get an 'A' in Financial Reporting CPE: New! Hot Topics Webinar Series; Revealing Corruption & Fraud Book Pick: Wiley IFRS 2012: Interpretation and Application of IFRS Web version | Archive & subscriptions | Email us  NEWSLINE Inmates Describe Ease of Falling into White-collar Crime Nathan Mueller went to work every day as an accounting manager at ING Reinsurance Corp. in Minneapolis feeling like he had a pot of gold under his desk. Finally, he couldn't resist and tapped it for $8.5 million during a four-year embezzlement. Also in the News: TIGTA: Clarification of Form 1099-R Could Improve Compliance IRS to Business Owners: Did You File Your 1099s? SEC Cop Says Scammers Often Top Feds in Tech In Stanford Trial, IRS Agent Tells of Big Deposits Industry Slams SEC Proposals on Money-market Funds FAQs for Employers on Affordable Care Act Enrollment Facebook Discloses Details on Bonuses Ernst & Young Paying $2M in Audit Settlement   OP/ED THE GRUMPY OLD ACCOUNTANTS Facebook Gets an 'A' in Financial Reporting By Anthony H. Catanach Jr. & J. Edward Ketz Facebook’s financial disclosures as reported in its recent S-1 filing should be anointed the “gold standard” for internet companies planning initial public offerings (IPOs).  Had Groupon been able to see Facebook’s registration statement before its public offering, there is no telling what IPO price they might have realized…probably a more realistic one!  CPE OPTIONS NEW! HOT TOPICS WEBINAR SERIES FROM EEI: Live Webinars on our Hottest Topics! Prepare for change while you still have time. All courses emphasize practical steps to take now. PREPARING FOR CHANGE: FINANCIAL INSTRUMENTS February 15, March 23, April 19 PREPARING FOR CHANGE: LEASES February 16, March 21, April 20 PREPARING FOR CHANGE: REVENUE RECOGNITION February 17, March 22, April 18    Credits: 2 CPE credits per webinar – 6 CPE credits for all three. Special Pricing: Only $50 - $75 per credit hour! Register Now NEW FROM FMN ONLINE: How Data Analytics Can Reveal Corruption and Fraud As organizations receive and accumulate more information than ever before, the insights within that data may be difficult to identify by traditional means and may, as a result, remain hidden. Kroll's Deena Coffman explains why companies are increasingly turning to data analytics in order to detect and reduce corruption, fraud, waste and abuse in their enterprise. Register today  BOOK PICK Wiley IFRS 2012: Interpretation and Application of International Financial Reporting Standards By Bruce Mackenzie, Danie Coetsee, Tapiwa Njikizana, Raymond Chamboko, Blaise Colyvas  As the International Accounting Standards Board (IASB) continues towards its goal of a set of high quality financial reporting standards, and makes significant strides in achieving global convergence of accounting standards worldwide, International Financial Reporting Standards (IFRS) continue to be important to the accounting world. Wiley IFRS 2012 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them. Your one-stop resource for understanding current International Financial Reporting Standards – now made even more useful: your purchase of Wiley IFRS 2012 includes a free ePDF of the entire book! Buy this book

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