GASB exposure draft up for comments

This one propose reclassification of  items currently reported as assets and liabilities as 1 of 4 elements.  deferred outflows of resources (or deferred inflows) or outflows or inflows of resources     http://journalofaccountancy.com/Web/20114527.htm

Merger of nonprofit and profit

discussed in this blog posting   Interesting discussion in determining fair value of a struggling nonprofit.   These times are a-changing.
http://www.ssireview.org/opinion/entry/good_questions_about_the_jumo_acqusition/?utm_source=Enews08_25_11&utm_medium=email&utm_campaign=Odgen

Fitch maintains AAA rating

for US government, for now...http://www.bloomberg.com/news/2011-08-16/fitch-leaves-municipal-bond-ratings-tied-to-treasuries-untouched.html

Sad day for U.S government. AAA Bond rating lowered per S&P

We make history, but not in a good way.

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

17 countries currently with the AAA bond rating

from both Moody's and Standard and Poors. http://money.cnn.com/2011/07/29/news/international/countries_with_aaa_rating/index.htm?iid=Lead