IRS Releases Draft Version of Form 8938 for Foreign Financial Asset Holders


By Ron Kramer

On June 21, 2011, the IRS released a revised draft of Form 8938, Statement of Specified Foreign Financial Assets... read more >

President Obama Touts Advanced Manufacturing: Pennsylvania can lead the way

It’s official…Pittsburgh has changed. The term “manufacturing” took on new meaning recently when President Barack Obama spoke ... read more >

Risk Management - The Audit Committees' Responsibilities

An organization’s audit committee plays a critical role in promoting effective risk management practices. Risk management is just one component of Governance, Risk Management and Compliance, and is an essential practice if an organization expects to achieve its strategic goals and objectives.... read more >

U.S. Mexico Trucking Agreement

On Wednesday, July 6, the U.S. and Mexico came to an agreement over a cross-border trucking dispute that has lasted 15 years. Since the North American Free Trade Agreement was signed in 1994, Mexican trucks have only been allowed to drive within a 25-mile radius of the border.... read more >

What are the Prospects of a Pennsylvania Severance Tax/Impact Fee on Marcellus Shale Gas Wells?

 The Marcellus Shale drilling boom in Pennsylvania has provided the incentive for many groups to call for a severance tax on the production from the wells drilled in the State. However, Governor Tom Corbett is opposed to any new taxes specifically levied on the Marcellus Shale industry.... read more >

American Trucking Associations, Inc. 2011 Annual Conference & Exhibition

The consensus of the participants at the National Accounting & Finance Council (NAFC) of the American Trucking Associations, Inc.’s 2011 Annual Conference was that the future of the transportation industry is bright.... read more >

Working Capital Requirements


By Bob Bandi

Most automakers require their dealerships to maintain a certain level of working capital (working capital requirement). The calculation varies among manufacturers. This amount should be shown on the first page of the dealers’ monthly financial statements.... read more >

Pennsylvania Begins Accepting EITC Applications July 1


By Martin DiGiovine

The Pennsylvania Education Improvement Tax Credit (“EITC”) provides scholarships to low-income students and is funded through corporate contributions, ... read more >

Construction Job Growth Remains Sluggish

On June 17, 2011, the Associated General Contractors of America (AGC of America) issued a press release regarding construction employment between May 2010 and May 2011.  While 22 states experienced sluggish and uneven growth, all others saw a decline in the number of construction jobs. ... read more >

The Consumer Financial Protection Bureau's Impending Impact on Small Community Banks

The July 21st deadline is nearly upon us. On this day, the Consumer Financial Protection Bureau (the “CFPB”) is officially open for business.... read more >