<br />
Staying Ahead<br />
in the Count<br />
Behind the Numbers<br />
of Major League<br />
Baseball<br />
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<br />
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<br />
<br />
<br />
<br />
<br />
An Interview with<br />
<br />
MLB CFO<br />
Jonathan<br />
Mariner<br />
 Tax Considerations in Plant Location  Disclosure Agreements and Independence<br />
 Audit Committee Weaknesses in Smaller Companies<br />
<br />
$12 million revolving credit line and a $1.5 million<br />
term loan for a regional staffing services and<br />
consulting company<br />
<br />
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$4 million factoring facility to<a title="The CPA Journal - December 2009 page 1" href="http://viewer.zmags.com/publication/510c0126?page=1">Staying Ahead in the CountBehind the Numbers</a> Staying Ahead in the CountBehind the Numbers<a title="The CPA Journal - December 2009 page 2" href="http://viewer.zmags.com/publication/510c0126?page=2"></a> <a title="The CPA Journal - December 2009 page 3" href="http://viewer.zmags.com/publication/510c0126?page=3">$12 million revolving credit line and a $1.5 mill</a> $12 million revolving credit line and a $1.5 mill<a title="The CPA Journal - December 2009 page 4" href="http://viewer.zmags.com/publication/510c0126?page=4">C ONTENTSdecember 2009 </a> C ONTENTSdecember 2009 <a title="The CPA Journal - December 2009 page 5" href="http://viewer.zmags.com/publication/510c0126?page=5">vol. LXXIX/no.126PERSPEC</a> vol. LXXIX/no.126PERSPEC<a title="The CPA Journal - December 2009 page 6" href="http://viewer.zmags.com/publication/510c0126?page=6"> PublisherLOUIS GRUMET Associate Pu</a> PublisherLOUIS GRUMET Associate Pu<a title="The CPA Journal - December 2009 page 7" href="http://viewer.zmags.com/publication/510c0126?page=7">The less sure you are of theeconomy, the more su</a> The less sure you are of theeconomy, the more su<a title="The CPA Journal - December 2009 page 8" href="http://viewer.zmags.com/publication/510c0126?page=8">P ERSPECTIVEShistorical perspectiveJennie</a> P ERSPECTIVEShistorical perspectiveJennie<a title="The CPA Journal - December 2009 page 9" href="http://viewer.zmags.com/publication/510c0126?page=9">publisher's columnBring Back Glass-Steagall</a> publisher's columnBring Back Glass-Steagall<a title="The CPA Journal - December 2009 page 10" href="http://viewer.zmags.com/publication/510c0126?page=10">(Continued from page 6)States. Because accountin</a> (Continued from page 6)States. Because accountin<a title="The CPA Journal - December 2009 page 11" href="http://viewer.zmags.com/publication/510c0126?page=11">Construction and the Use of Words inAccountants'</a> Construction and the Use of Words inAccountants'<a title="The CPA Journal - December 2009 page 12" href="http://viewer.zmags.com/publication/510c0126?page=12">Poetry Palen was also a noted poet, having de</a> Poetry Palen was also a noted poet, having de<a title="The CPA Journal - December 2009 page 13" href="http://viewer.zmags.com/publication/510c0126?page=13"></a> <a title="The CPA Journal - December 2009 page 14" href="http://viewer.zmags.com/publication/510c0126?page=14">recognitionRecognitionThe editors would like</a> recognitionRecognitionThe editors would like<a title="The CPA Journal - December 2009 page 15" href="http://viewer.zmags.com/publication/510c0126?page=15">future of the profession Closing </a> future of the profession Closing <a title="The CPA Journal - December 2009 page 16" href="http://viewer.zmags.com/publication/510c0126?page=16">problematic, so they tend to be home-grown withi</a> problematic, so they tend to be home-grown withi<a title="The CPA Journal - December 2009 page 17" href="http://viewer.zmags.com/publication/510c0126?page=17">inbox: letter to the editorIn the O</a> inbox: letter to the editorIn the O<a title="The CPA Journal - December 2009 page 18" href="http://viewer.zmags.com/publication/510c0126?page=18">InFocus</a> InFocus<a title="The CPA Journal - December 2009 page 19" href="http://viewer.zmags.com/publication/510c0126?page=19">STAYING AHEAD IN THE COUNTAn Interview with Jona</a> STAYING AHEAD IN THE COUNTAn Interview with Jona<a title="The CPA Journal - December 2009 page 20" href="http://viewer.zmags.com/publication/510c0126?page=20">“A CPA's Career in Industry The ch</a> “A CPA's Career in Industry The ch<a title="The CPA Journal - December 2009 page 21" href="http://viewer.zmags.com/publication/510c0126?page=21"></a> <a title="The CPA Journal - December 2009 page 22" href="http://viewer.zmags.com/publication/510c0126?page=22"> </a> <a title="The CPA Journal - December 2009 page 23" href="http://viewer.zmags.com/publication/510c0126?page=23">some teams pay the luxury tax. There isalso no l</a> some teams pay the luxury tax. There isalso no l<a title="The CPA Journal - December 2009 page 24" href="http://viewer.zmags.com/publication/510c0126?page=24">and people generates an economic benefitto a cit</a> and people generates an economic benefitto a cit<a title="The CPA Journal - December 2009 page 25" href="http://viewer.zmags.com/publication/510c0126?page=25">It is a challenge trying to convince the fanstha</a> It is a challenge trying to convince the fanstha<a title="The CPA Journal - December 2009 page 26" href="http://viewer.zmags.com/publication/510c0126?page=26">A CCOUNTING & AUDITINGauditing</a> A CCOUNTING & AUDITINGauditing<a title="The CPA Journal - December 2009 page 27" href="http://viewer.zmags.com/publication/510c0126?page=27">resources can be useful for small businessesseek</a> resources can be useful for small businessesseek<a title="The CPA Journal - December 2009 page 28" href="http://viewer.zmags.com/publication/510c0126?page=28"> EXHIBIT 1 </a> EXHIBIT 1 <a title="The CPA Journal - December 2009 page 29" href="http://viewer.zmags.com/publication/510c0126?page=29"> EXH</a> EXH<a title="The CPA Journal - December 2009 page 30" href="http://viewer.zmags.com/publication/510c0126?page=30"> </a> <a title="The CPA Journal - December 2009 page 31" href="http://viewer.zmags.com/publication/510c0126?page=31">and how those risks are mitigated. In termsof ev</a> and how those risks are mitigated. In termsof ev<a title="The CPA Journal - December 2009 page 32" href="http://viewer.zmags.com/publication/510c0126?page=32">A CCOUNTING & AUDITINGaccountingProt</a> A CCOUNTING & AUDITINGaccountingProt<a title="The CPA Journal - December 2009 page 33" href="http://viewer.zmags.com/publication/510c0126?page=33"></a> <a title="The CPA Journal - December 2009 page 34" href="http://viewer.zmags.com/publication/510c0126?page=34">under the fraudulent transfer provisions of11 US</a> under the fraudulent transfer provisions of11 US<a title="The CPA Journal - December 2009 page 35" href="http://viewer.zmags.com/publication/510c0126?page=35">meaningful opportunity to reorganize andobtain a</a> meaningful opportunity to reorganize andobtain a<a title="The CPA Journal - December 2009 page 36" href="http://viewer.zmags.com/publication/510c0126?page=36">A CCOUNTING & AUDITINGstandards setting</a> A CCOUNTING & AUDITINGstandards setting<a title="The CPA Journal - December 2009 page 37" href="http://viewer.zmags.com/publication/510c0126?page=37"> Unlike IFRS adoption, where nationalstandards</a> Unlike IFRS adoption, where nationalstandards<a title="The CPA Journal - December 2009 page 38" href="http://viewer.zmags.com/publication/510c0126?page=38"> The measurement of a performance obli-gation</a> The measurement of a performance obli-gation<a title="The CPA Journal - December 2009 page 39" href="http://viewer.zmags.com/publication/510c0126?page=39"></a> <a title="The CPA Journal - December 2009 page 40" href="http://viewer.zmags.com/publication/510c0126?page=40"> </a> <a title="The CPA Journal - December 2009 page 41" href="http://viewer.zmags.com/publication/510c0126?page=41">emphasizes changes in rights and obliga-tions un</a> emphasizes changes in rights and obliga-tions un<a title="The CPA Journal - December 2009 page 42" href="http://viewer.zmags.com/publication/510c0126?page=42">T AXATIONcorporate taxation</a> T AXATIONcorporate taxation<a title="The CPA Journal - December 2009 page 43" href="http://viewer.zmags.com/publication/510c0126?page=43">The reasons are as follows. First, three of thef</a> The reasons are as follows. First, three of thef<a title="The CPA Journal - December 2009 page 44" href="http://viewer.zmags.com/publication/510c0126?page=44">chase of tangible personal property used in </a> chase of tangible personal property used in <a title="The CPA Journal - December 2009 page 45" href="http://viewer.zmags.com/publication/510c0126?page=45">Non-Inventory Assets Used in theManufacturing Pr</a> Non-Inventory Assets Used in theManufacturing Pr<a title="The CPA Journal - December 2009 page 46" href="http://viewer.zmags.com/publication/510c0126?page=46">[g][1]; New York Tax Law section1105[c][3]; NYCR</a> [g][1]; New York Tax Law section1105[c][3]; NYCR<a title="The CPA Journal - December 2009 page 47" href="http://viewer.zmags.com/publication/510c0126?page=47">APPENDIXCOMPARISON OF SALES/USE TAX EXEMPT AND </a> APPENDIXCOMPARISON OF SALES/USE TAX EXEMPT AND <a title="The CPA Journal - December 2009 page 48" href="http://viewer.zmags.com/publication/510c0126?page=48">manufacturing, processing, or fabrica-tion that </a> manufacturing, processing, or fabrica-tion that <a title="The CPA Journal - December 2009 page 49" href="http://viewer.zmags.com/publication/510c0126?page=49">person who directly or indirectly fur-nishes the</a> person who directly or indirectly fur-nishes the<a title="The CPA Journal - December 2009 page 50" href="http://viewer.zmags.com/publication/510c0126?page=50">■ Barrels, bottles, boxes, bags, cartons,or simi</a> ■ Barrels, bottles, boxes, bags, cartons,or simi<a title="The CPA Journal - December 2009 page 51" href="http://viewer.zmags.com/publication/510c0126?page=51">■ Tangible personal property shippedto Florida, </a> ■ Tangible personal property shippedto Florida, <a title="The CPA Journal - December 2009 page 52" href="http://viewer.zmags.com/publication/510c0126?page=52">T AXATIONstate & local taxationNew Yor</a> T AXATIONstate & local taxationNew Yor<a title="The CPA Journal - December 2009 page 53" href="http://viewer.zmags.com/publication/510c0126?page=53"> Property Receipts Pa</a> Property Receipts Pa<a title="The CPA Journal - December 2009 page 54" href="http://viewer.zmags.com/publication/510c0126?page=54">ment entity other than the U.S. secretaryof the </a> ment entity other than the U.S. secretaryof the <a title="The CPA Journal - December 2009 page 55" href="http://viewer.zmags.com/publication/510c0126?page=55"></a> <a title="The CPA Journal - December 2009 page 56" href="http://viewer.zmags.com/publication/510c0126?page=56">F INANCEpersonal financial planningInv</a> F INANCEpersonal financial planningInv<a title="The CPA Journal - December 2009 page 57" href="http://viewer.zmags.com/publication/510c0126?page=57">USING PROBABILITY TO MAP THE UNKNOWNB </a> USING PROBABILITY TO MAP THE UNKNOWNB <a title="The CPA Journal - December 2009 page 58" href="http://viewer.zmags.com/publication/510c0126?page=58"> EXH</a> EXH<a title="The CPA Journal - December 2009 page 59" href="http://viewer.zmags.com/publication/510c0126?page=59">inal trajectory is determined chiefly bythe star</a> inal trajectory is determined chiefly bythe star<a title="The CPA Journal - December 2009 page 60" href="http://viewer.zmags.com/publication/510c0126?page=60"> EXHIBIT 5 </a> EXHIBIT 5 <a title="The CPA Journal - December 2009 page 61" href="http://viewer.zmags.com/publication/510c0126?page=61">the middle of each bar represents theexpected we</a> the middle of each bar represents theexpected we<a title="The CPA Journal - December 2009 page 62" href="http://viewer.zmags.com/publication/510c0126?page=62">M ANAGEMENTpractice managementVoluntary </a> M ANAGEMENTpractice managementVoluntary <a title="The CPA Journal - December 2009 page 63" href="http://viewer.zmags.com/publication/510c0126?page=63">a prohibited nonaudit service under theSarbanes-</a> a prohibited nonaudit service under theSarbanes-<a title="The CPA Journal - December 2009 page 64" href="http://viewer.zmags.com/publication/510c0126?page=64">anonymity be a factor for determiningwhether the</a> anonymity be a factor for determiningwhether the<a title="The CPA Journal - December 2009 page 65" href="http://viewer.zmags.com/publication/510c0126?page=65"></a> <a title="The CPA Journal - December 2009 page 66" href="http://viewer.zmags.com/publication/510c0126?page=66">vice is provided, could be provided onlyby someo</a> vice is provided, could be provided onlyby someo<a title="The CPA Journal - December 2009 page 67" href="http://viewer.zmags.com/publication/510c0126?page=67">VDA Services and Advocacy The rules dealing w</a> VDA Services and Advocacy The rules dealing w<a title="The CPA Journal - December 2009 page 68" href="http://viewer.zmags.com/publication/510c0126?page=68">and are provided in the context of an admin-istr</a> and are provided in the context of an admin-istr<a title="The CPA Journal - December 2009 page 69" href="http://viewer.zmags.com/publication/510c0126?page=69">Don’t let the JANUARY TEMPERATURESkeep you from </a> Don’t let the JANUARY TEMPERATURESkeep you from <a title="The CPA Journal - December 2009 page 70" href="http://viewer.zmags.com/publication/510c0126?page=70">R ESPONSIBILITIES & LEADERSHIPcorporate go</a> R ESPONSIBILITIES & LEADERSHIPcorporate go<a title="The CPA Journal - December 2009 page 71" href="http://viewer.zmags.com/publication/510c0126?page=71">years beginning after June 15, 2005. SFAS123(R) </a> years beginning after June 15, 2005. SFAS123(R) <a title="The CPA Journal - December 2009 page 72" href="http://viewer.zmags.com/publication/510c0126?page=72">firm's stock price. The SEC lays the frame-work </a> firm's stock price. The SEC lays the frame-work <a title="The CPA Journal - December 2009 page 73" href="http://viewer.zmags.com/publication/510c0126?page=73">By now, we hope, you are aware of the many new re</a> By now, we hope, you are aware of the many new re<a title="The CPA Journal - December 2009 page 74" href="http://viewer.zmags.com/publication/510c0126?page=74">T ECHNOLOGYwhat to bookmark </a> T ECHNOLOGYwhat to bookmark <a title="The CPA Journal - December 2009 page 75" href="http://viewer.zmags.com/publication/510c0126?page=75">panies increased or maintained their previ-ous c</a> panies increased or maintained their previ-ous c<a title="The CPA Journal - December 2009 page 76" href="http://viewer.zmags.com/publication/510c0126?page=76">Classified PROFESSIONAL OPPORTUNITY l BUSINESS l</a> Classified PROFESSIONAL OPPORTUNITY l BUSINESS l<a title="The CPA Journal - December 2009 page 77" href="http://viewer.zmags.com/publication/510c0126?page=77">Controller, LaGrange, GA: Plan, direct, and coord</a> Controller, LaGrange, GA: Plan, direct, and coord<a title="The CPA Journal - December 2009 page 78" href="http://viewer.zmags.com/publication/510c0126?page=78"> Downtown Syracuse Discounted Offices </a> Downtown Syracuse Discounted Offices <a title="The CPA Journal - December 2009 page 79" href="http://viewer.zmags.com/publication/510c0126?page=79">BOOKKEEPING USA 212-843-3277Fu</a> BOOKKEEPING USA 212-843-3277Fu<a title="The CPA Journal - December 2009 page 80" href="http://viewer.zmags.com/publication/510c0126?page=80"> </a> <a title="The CPA Journal - December 2009 page 81" href="http://viewer.zmags.com/publication/510c0126?page=81">E CONOMIC & MARKET D ATAmonthly update</a> E CONOMIC & MARKET D ATAmonthly update<a title="The CPA Journal - December 2009 page 82" href="http://viewer.zmags.com/publication/510c0126?page=82">E DITORIALa message from the editor-in-chie</a> E DITORIALa message from the editor-in-chie<a title="The CPA Journal - December 2009 page 83" href="http://viewer.zmags.com/publication/510c0126?page=83"></a> <a title="The CPA Journal - December 2009 page 84" href="http://viewer.zmags.com/publication/510c0126?page=84"></a>