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IN the long term, Americans will view the $700 billion bailout package Congress passed during the first week of October as a preview of a much more dramatic reordering of [...]

The article focuses on the popularity of corporate bonds with investors. It states that the attraction of bonds is due to low rates and investor enthusiasm. It mentions that the U.S. Federal Reserve Board lowered the federal funds rate (FFR) target to 1% in 2003. It comments that FFR is what banks charge each other for overnight funds, and that this helps indicate the direction of interest rates.

This article discusses business planning strategies for the recession and financial crisis. Issues relating to capital management and managerial accounting under conditions of reduced sales and diminished cash flow are considered. The management of inventory and relationships with vendors and customers is addressed.

The author offers opinions on the U.S. bailout legislation for the financial services industry passed in response to the financial crisis in October, 2008. The bill is seen as a precursor to future legislation which will include more stringent regulation of financial services and accounting practices. The widespread public opposition to the bailout is said to indicate that harsher treatment of the financial services industry is inevitable.

The article reports on defined benefit plans in the United States and mentions the Pension Benefit Guarantee Corp. (PBGC), which is concerned about underfunded plans, especially at "troubled" companies. The national trade association, American Benefits Council, suggests that the PBGC estimates are inaccurate. The General Accounting Office told Congress that corporations have found ways to avoid making contributions to defined benefit plans.

At a time when corporations have to pay higher interest rates on corporate bonds in order to attract investors, sovereign wealth funds have in some instances been just what the [...]

The article reports on the June 2012 U.S. Senate Banking Committee hearing Safeway Inc.'s vice president Brad Fox said a proposed Securities and Exchange Commision (SEC) regulation on money market funds would create an accounting problem for corporate investors. SEC Chairman Mary Schapiro supports the proposal for a floating net asset value (NAV) rule which is discussed.

The article discusses legislation being drafted in the U.S. Congress to regulate credit default swaps (CDSs). A bill introduced by Senator Tom Harkin would mandate that CDSs be traded on a designated market. Representative Collin Peterson is drafting a measure that would ban trading in CDSs by those who don't own the related securities.

The article discusses a publication entitled "Guidance on Monitoring Internal Control Systems" from the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This multi-volume document discusses how companies can improve their methods of assessing the effectiveness of internal control systems.

An obituary is presented for Keith Russell, dean of the business school at St.; Mary's University in San Antonio, Texas.

The article presents information related to the corporate tax recommendations in the U.S. In November of 2005, United States President George W. Bush's tax commission recommended endorsing expensing of capital expenditures, losing depreciation schedules, and lowering the corporate income tax from 35 percent to 32 percent.

The article discusses proposed changes of the U.S.' Pension Protection Act. The changes, outlined in the Credit Rating Agencies Relief Act of 2005, are designed to create competition in the credit ratings market. The reforms are also geared towards making the ratings process more transparent and improving the quality of ratings. Critics fear that the bill will disrupt the operations on the capital market. A main point of the legislation is to eliminate the Nationally Recognized Statistically Rating Organization (NRSRO).

The article discusses proposed changes to the U.S.' Social Security program in 2005. Several proposals to restructure Social Security have been introduced including the introduction of private accounts, similar to Individual Retirement Accounts (IRA) or 401(K) accounts. A fundamental issue is whether or not Social Security should continue to be a government-sponsored program. Private accounts have been suggested to increase long-term rates of return on personal accounts and lower Social Security payout requirements at retirement. Critics of this approach fear that personal accounts would exacerbate the Social Security funding problem.

The article reports on legislative bills and other action in the United States Congress. Pennsylvania Representative Paul Kanjorski, a member of the Capital Markets, Insurance, and Government Sponsored Enterprises Subcommittee, gives an opinion on rules proposed by the Securities and Exchange Commission concerning in-house attorneys and material violations. Iowa Senator Charles Grassley is expected to support legislation to prevent financial statement manipulation via tax shelters. Deficit reduction contributions are an issue in the pension reform bills that are in the House and Senate.

The article offers accounting news briefs. The standard proposed by the Public Company Accounting Oversight Board (PCAOB) requires an evaluation of internal auditing controls and the effectiveness of audit committees. Senate Majority Leader Bill Frist of Tennessee will reintroduce a pension reform bill that failed to pass last year.

The article offers United States news briefs. A pension-rate formula proposed by Representatives Benjamin Cardin of Maryland and Rob Portman of Ohio is being considered by the Treasury Department. The Foreign Sales Corporation-Extraterritorial Income Act, which was ruled an illegal subsidy by the World Trade Organization, will not be available in 2004. A tax settlement between the Internal Revenue Service and Ernst & Young is mentioned.

The article provides U.S. administrative policy news briefs concerning financial issues. It states that U.S. President George W. Bush's tax cut proposal didn't touch corporate tax rates but that several business groups have pushed proposals on Congress to include one. The Securities and Exchange Commission adopted amendments to the Sarbanes-Oxley Act to prevent pressuring auditors of financial statements. The Internal Revenue Service Oversight Board presented its annual report to Congress.

The article refers to the Pension Benefit Guaranty Corporation and insurance premiums, noting the U.S. Congress made changes affecting corporate pension funds which are included in a student loan bill passed in June 2012.

The article mentions the Institute of Management Accountants' (IMA's) Managerial Costing Conceptual Framework Task Force's exposure draft on managerial costing, the Task Force's request for IMA members to comment on the exposure draft which supports decision making on cost accounting, and the people serving on the Task Force.

The article discusses a proposal from the U.S. Securities and Exchange Commission (SEC) concerning disclosure of credit ratings. The SEC wants to require mandatory disclosure of ratings assigned by ratings agencies to debt and convertible-debt securities, as well as to preferred stock. Any non-ratings services provided by such agencies would also be subject to disclosure.

A letter is presented from a reader responding to an article written by Curt Verschoor which appeared in the January, 2009 issue of "Strategic Finance."

The letter to the editor refers to the article "Making More Time for Effective Financial Analysis," by Steve Spiech, which is in the June 2008 issue of "Strategic Finance."

The letter to the editor praises "Making More Time for Effective Financial Analysis," which was written by Steve Spiech and is in the June 2008 issue of "Strategic Finance."

The article focuses on U.S. Securities & Exchange Commission (SEC) in light of the scheduled departure of SEC Chairman Chris Cox. The SEC has three new commissioners--Luis Aguilar, Elisse Walter, and Tony Paredes--who were confirmed by the U.S. Senate. The "21st Century Disclosure Initiative," proposed rules for credit rating agencies, and the passage of the Credit Rating Agency Reform Act are mentioned.

The article reports that the Pension Benefit Guaranty Corp. (PBGC) now wants to impose higher fines on those Fortune 500 companies that have ignored federal requirements to notify pension plan participants when assets fall below 90% of liabilities. The new PBGC proposal wants to modify the fine based on the number of people dependent on the pension plan. The U.S. Congress has passed a bill changing the way that companies compute pension plan liabilities. The article explains the implications.

Pension funding reform took another step forward when the House Ways & Means Committee bill (H.R. 2830) passed the full House last month. A somewhat different Senate bill (S. 1783) [...]

Several ideas on how to restructure Social Security have been put forth in recent years, including proposals for reform such as private accounts similar to IRAs or 401(K)s (the latter [...]

The corporate pension changes Congress included in the student loan bill passed at the end of June are a double-edged sword. On one side, more corporate pension funds are about [...]

Talking about pension plans whose liabilities have swollen in the laggard economy, Congress finally passed a bill that changes the way companies must compute those liabilities. Companies have complained that [...]