FEI Members and Prospective Members
Just a quick reminder about some of the key events FEI has planned for the next few weeks.
Labor Day is fast approaching, and our local chapters will be kicking off their regular
meetings shortly. Keep checking FEI's website so you don't miss out.
This issue of FEI Express is sponsored by the Employease Network-
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New from FEI - Our Members-Only Online resumé
FEI members can now complete a brief professional profile, upload their
resumé and be matched to open positions from carefully screened employers and retained
executive search firms. This service is absolutely free as a benefit of FEI membership.
And it can be completely confidential if you wish. To post your resumé,
Searching for Top-line Financial Talent? Go No
Attention retained search firms and qualified employers: Subscribe to
the resumé bank on a monthly, three-month or annual basis. Once approved, select your
search criteria and identify candidates. When your list of candidates is returned, either
download the resumés or contact members by e-mail. Interested?
Click here for more details.
FASB Teleconference on New Accounting Rules
Featuring FASB Chairman Ed Jenkins and Project Manager Kim
Petrone, on Monday, Sept. 17, from 12 - 1:30 PM Eastern. The new rules are important for
your understanding of the book income results of many transactions you may be
anticipating. As you undoubtedly know, the new statements end the amortization of
existing goodwill, replacing it with impairment testing. A live Q&A session will follow
the presentation. To sign up, click here.
Registration fee is $25 for FEI members, $45 for non-members. (MC/Visa, AMEX and
Discover accepted. No replay will be provided, no refunds issued and only registered
participants will be issued CPE credit.)
Other Upcoming Teleconferences: Don't miss these
* Leveraging Change to Drive Results & Growth (GE Capital).
Tuesday, Sept. 11, at 2 PM.
* Defined Contribution Health Plans: Are They Right for
Your Company? Wednesday, Sept. 12 at 2 PM.
* Pension Plan Fees - Are You Paying Too
Much? Wednesday, Sept. 19 at 2 PM.
To register for these teleconferences
M&A Accounting Rules Resources
Here are some
resources for help with FASB Statements No. 141, Business Combinations, and No. 142, Goodwill
and Other Intangible Assets.
FEI Research Foundation
The Research Foundation has
developed an Executive Report on "Evaluating Acquisitions Under the Accounting Rules for
Business Combinations in the post FASB 141 Era." The report provides insight into how
companies will change the way they evaluate mergers and acquisitions under the accounting
rules, including if key executives anticipate changing how they look at their M&A models,
hurdle rates, etc. This publication is due out in mid-September.
Additionally, the Research Foundation is publishing a short Executive Report using case
studies to present a side-by-side comparison of the new rules to the old using
illustrative accounting scenarios, identifying potential issues and possible solutions.
This publication is due out in early October.
Andersen has developed a four-page Executive
Summary and will be releasing an upcoming Controller's Supplement to help you understand
the new standards. The Executive Summary provides insight into the key rule changes,
timing for transition, plus a primer on fair value and a supplement describing the
transition rules for companies with a no calendar year-end. To download the Executive
Summary, visit Andersen's website.
The Controller's Supplement, which will be available in the near future, identifies the
action steps needed to implement the new rules, and contains a topic-by-topic comparison
of the new rules to the old.
Ernst & Young
In response to the new pronouncements,
Ernst & Young created an executive summary, which is available for download on
FAS 141 requires that all business combinations
be accounted for under the purchase method. Use of the pooling-of-interests method is prohibited for business combinations
initiated after June 30, 2001. FAS 141 also establishes criteria for the separate
recognition of intangible assets acquired in a business combination. FAS 142 requires
that goodwill and indefinite-lived intangibles no longer be amortized to earnings, but
instead be subject to periodic testing for impairment.
For more information on this topic, read
of the two new Standards, available only on CFOdirectNetwork.
Symposium on Sustainability: Profiles in
Wednesday, Oct. 17, 2001, 8:30 AM - 1:00 PM, New York City.
Christine Todd Whitman, Administrator of the U.S. Environmental Protection Agency, is the
expected keynote speaker. Hear real-life examples of how energy performance and
sustainability directly impact the bottom line from high-level executives of leading
corporations. Examine the benefits of sustainability drivers, the role of the investment
community in stimulating sustainable business practices, and the influence of overseas
trends. Sponsored by the Corporate Communication Institute at Fairleigh Dickinson
University, the symposium will be held at the offices of Neuberger Berman, 605 Third Ave.,
New York, NY. For more information, contact Dr. Michael Goodman, CCI, at 973/443-8709;
e-mail at firstname.lastname@example.org, or visit
Last Chance for Summer Sale and Giveaway
The FEI Research Foundation wants to remind you to take advantage of its summer book sale and
giveaway before it expires on Labor Day. FEI members can log onto our
special offer page, select up to five books from the
Research Foundation archives, and pay only shipping and handling costs of $6.75 for the
first book and $1.00 for each additional book. In addition, current year titles are
available for $20.00 per copy, a 40% discount to the regular member price. Non-FEI
members can select two books from the archives at the summer rate, but aren't eligible
for the current title prices.
September Chapter Events
Sept. 20 at 5:30 PM, at the Mid-Day Club. The topic
of discussion will be The Chicago Climate Exchange, the first U.S. voluntary pilot program
for trading of greenhouse gases.
Click here for more
Sept. 25 at 5:30 PM. Features a panel of
speakers from GE Capital, who will cover a variety of capital markets issues facing
financial executives today. Click here for more
FEI Yellow Pages
Take advantage of an
important resource that will help you find the services you need in your business, right
on your desktop! It's easy to search for exactly what you want. Or, post your own entry!
Extremely competitive rates buy you access to 15,000 senior-level finance professionals
nationwide, and FEI members can post one entry for free:
Job Posting: CFO (FEI Job # 5377)
Los Angeles, CA, this is a visionary, private communications company serving a niche
market - local/long distance services and equipment. A MUST is experience in the
telecommunications industry. CPA and MBA Required. To apply, contact Jo Basto at:
email@example.com; Fax: 203-267-6760.
New Member Welcome
Congratulations to Leslie
Nolen, Chief Financial Officer, TXU Communications, Dallas, and Thomas Pyra, Chief
Financial Officer, Clark/Bardes, Inc., Chicago.
That's all for now,
P.S.: Interested in FEI?
here to learn more about us, or Click
here to apply online. FEI is dedicated to serving the needs and interests of
senior-level financial executives.
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