October 26, 2007            Volume 7, Number 20           www.gscpa.org

E-Sources, broadcast the second and fourth Friday of each month, provides timely information about issues affecting the accounting profession, educational opportunities, and special events.

In this issue:
1. JA in a Day Volunteers Needed
2. Tax Info
3. The Georgia Society of CPAs is seeking proposals from qualified firms for audit & tax services
4. GSCPA Guide to Accounting Firms in Georgia - Call for Submissions
5. Current Accounts Seeking Unique Members
6. Volunteers Needed to Review XBRL Taxonomies
7. AICPA Clusters - Register Now
8. Section Events
9. CPE News

JA IN A DAY VOLUNTEERS NEEDED:
Junior Achievement and the GSCPA are looking for volunteers to help teach financial literacy to Chamblee Middle School students on January 22, 2008. Through this partnership, GSCPA volunteer role models prepare students to become financially literate through such topics as careers, budgeting, saving, and credit. To sign up, please complete the form linked below and fax to Rebecca Stoll at 404-843-3194. The training date will be November 28, 2007, so please return your form as soon as possible.

TAX INFO:
IRS Announces Pension Plan Limitations for 2008- The IRS has announced cost of living adjustments applicable to dollar limitations for pension plans and other items for Tax Year 2008.

2008 Inflation Adjustments Widen Tax Brackets- For 2008, personal exemptions and standard deductions will rise, tax brackets will widen and workers will be able to save more for retirement, thanks to inflation adjustments. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation.

Poker Tournament Winnings Must be Reported to the IRS- Starting next year, casinos and other sponsors of poker tournaments will be required to report most winnings to winners and the IRS. The new requirement, which goes into effect on March 4, 2008, was contained in guidance released Sept. 4 by the Treasury Department and the IRS. The guidance is designed to clear up confusion about the tax reporting rules that apply to poker tournaments.

THE GEORGIA SOCIETY OF CPAS IS SEEKING PROPOSALS FROM QUALIFIED FIRMS FOR AUDIT & TAX SERVICES:
Entities include the GSCPA, the Educational Foundation of the GSCPA and the GSCPA Group Insurance Trust Fund. In order to receive a detailed RFP, please submit a summary of qualifications, including number of audit professionals and number of non-profit audit engagements, to Lloyd McCreary, Director of Finance and Administration at lmccreary@gscpa.org.

GSCPA GUIDE TO ACCOUNTING FIRMS IN GEORGIA - CALL FOR SUBMISSIONS:
Accounting firms are always looking for new ways to reach qualified applicants whether they be highly qualified Georgia college students (for internships or entry level positions), or individuals looking for part-time, seasonal, or alternative work schedules who may have some prior experience. In an attempt to bring together qualified individuals and Georgia accounting firms, the GSCPA has developed a firm guide to accomplish the goal of both of these groups. The guide will be sent to over 600 GSCPA student members and all colleges and universities throughout the state. In order for your firm to be included in the guide you must complete the firm profile form below and fax to Nealy Wheat upon completion at 404-237-1291. The deadline to submit your firm information is Friday, November 2, 2007.

CURRENT ACCOUNTS EDITORS SEEKING UNIQUE MEMBERS:
In 2008, Current Accounts will launch a new segment to the newsletter - Meet the Member. A member will be profiled each issue. We are looking for members with a unique and fun story. Have you written a book? Do you have an interesting hobby? What is something members may be surprised to learn about you? If you would like to be considered for the profile, or know someone who might make a good story, please send member name and brief description to Jamie Etzbach at jetzbach@gscpa.org.

VOLUNTEERS NEEDED TO REVIEW XBRL TAXONOMIES:
The AICPA is looking for CPAs in Business & Industry to review and provide feedback on US GAAP XBRL taxonomies, which will be available for public review in December 2007. The AICPA is creating a pool of member volunteers to review taxonomies and possibly assist the XBRL US Market Outreach Working Group. The Group will obtain market input into the US GAAP taxonomy and other related materials being developed, and support the adoption of XBRL by educating and building awareness. If you are interested in participating please contact Ami Beers at abeers@aicpa.org. Further information on XBRL can be found at http://www.xbrl.org/us/start/

UPCOMING SECTION EVENTS:
2007 Firm Practice Management Conference
Focus on Leadership
Early registration has been extended to Friday, October 26
November 11-12, 2007; 10 hours CPE
Brasstown Valley Resort, Young Harris, Ga.

November YCPA Breakfast
Personal Development and Career Assessment

Date: November 8, 2007
Time: 7:30 - 8:30 a.m. (registration at 7 a.m.)
Location: Atlanta
Facility: GSCPA Training Center, Atlanta
Speaker: Heather Mausz, Director of Recruiting & Employee Development for Habif, Arogeti & Wynne, LLP.
Sponsor: Habif, Arogeti & Wynne, LLP

CPE NEWS

UPCOMING COURSES:
Sarbanes-Oxley Benefiting from Compliance
Course No. 10072
October 29, 2007; 8 hours A&A
Instructor: Lynn Northrup
8:30 a.m. - 4p.m.; GSCPA Training Center

Fiduciary Accounting and the Impact of Georgia Statutes
Course No. 11024
November 7, 2007; 8 hours A&A
Instructor: Ted Englebrecht
8:30 a.m. - 4:30 p.m.; Macon Centreplex/Coliseum, Macon

Auditing Internal Control Over Financial Reporting** (NEW)
Course No. 11030
November 8, 2007; 8 hours A&A
Instructor: Anne Oestriecher
8:30 a.m. - 4:30 p.m.; Coastal Georgia Center, Savannah

UPCOMING CONFERENCES
2007 Atlanta Tax Forum – Preseason Tune-Up for CPAs
November 1-2, 2007; 18 hours CPE (possible 5.5 hours A&A); Cobb Galleria Centre, Atlanta
Topics include a practice management panel; current Georgia state and local tax issues; choice of entity; document retention; and tax ethics.
For the complete program schedule and registration information, visit the web site.

2007 Savannah Tax Forum – Preseason Tune-Up for CPAs
November 29-30, 2007; 18 hours CPE (possible 5.5 hours A&A); Coastal Georgia Center, Savannah
Larry O’Neal, Chairman of the Ways & Means Committee of the Georgia House of Representatives will be presenting “Current Georgia State and Local Tax Issues”
Early registration deadline is November 8
Hotel block cut-off is October 29
For the complete program schedule and registration information, visit the web site.

Governmental A&A Conference – Unlock Your Potential
December 7, 2007; 8 hours A&A; Cobb Galleria Centre, Atlanta
Topics include Current GASB Issues; Yellow Boo Update; Internal Control Fundamentals; and Risk Based Audits: SAS 104-114.
For the complete program schedule and registration information, visit the web site.

Comments/suggestions? Please email jetzbach@gscpa.org.

The next issue of E-Sources will be released Friday, November 9, 2007.