Page 453 - Introduction to Business

CHAPTER 12 Financial Reporting 427

8. Remote connectivity. Technology that allows a user to connect to a computer
from a distant location outside of the office. Examples would include Remote
Access Services (RAS), Windows Terminal Server (WTS), Citrix, MangoMind,
and PCAnywhere.
9. Customer relationship management. Managing all customer touch points,
including call center technologies, e-commerce, data warehousing, and all
other technologies used to facilitate communications with customers and
prospects.
10. Privacy. Today, more and more personal information is being collected and con-
verted to digital formats. This information must be protected from unautho-
rized use by those with access to the data. Privacy is a business issue, as well as
a technology issue, because of state, federal, and international regulations.
Source: Copyright © 2003 by the American Institute of Certified Public Accountants, Inc.
Reprinted with permission.

Accounting and Auditing Resources on the Web
The Internet, specifically the World Wide Web, has become an extremely useful
research tool. The Web can be used to find valuable information about many sub-
jects. Also, various authorities can be easily consulted both by their postings to the
Web and through tools made available on the Web.
Regarding financial reporting and other accounting issues, the Web is especially
useful for staying informed of current developments and resolving technical issues.
Since organizations responsible for creating accounting and auditing standards
maintain websites, the Web now presents a convenient way to keep up-to-date on
technical developments. Accounting and auditing issues can be resolved by search-
ing sites that provide accounting and auditing-related information, researching
sites that contain authoritative pronouncements, submitting questions to special-
ists, or posting questions to online forums.
Exhibit 12.9 (on p. 428) lists accounting and auditing websites in six categories:
financial accounting, auditing, international accounting and auditing, research
and publications, accounting organizations, search and Web technology tools,
and other. The websites are also listed, with their respective links, on the Web
(http://acct.tamu.edu/smith/acctwebs.htm), along with several additional sites
that may be of interest.

Websites Related to Financial Accounting. The following websites will be
useful for investigating topics pertaining to financial accounting. Staying up-to-date
regarding generally accepted accounting principles (GAAP) can be challenging. Rule
203 of the American Institute of CPAs Code of Professional Conduct specifies the
organizations that establish GAAP. These include the Financial Accounting Standards
Board (FASB) for private business firms, the Governmental Accounting Standards
Board (GASB) for state and local government entities, and the Federal Accounting
Standards Advisory Board (FASAB) for federal government entities. For each of these
organizations, the highest level of GAAP is called Category A, second highest Category
B, and so on. For example, regarding FASB, Category A GAAP are the FASB Statements
of Financial Accounting Standards, together with Accounting Research Bulletins and
Accounting Principles Board Opinions that are not superseded by action of the FASB.

FINANCIAL ACCOUNTING STANDARDS BOARD (www.fasb.org). This site is helpful for
following the FASB and Emerging Issues Task Force (EITF) activities. The Publica-
tions section contains summaries of all FASB Statements (Category A GAAP). These

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