Balanced Scorecard: Two Perspectives
By Shih-Jen Kathy Ho and Ruth B. McKay
Balanced scorecard is a strategic management system that translates an organization’s mission into a set of integrated performance measures that provide a concise picture of an organization’s progress towards a goal. The authors examine two case studies—one where balanced scorecard was successful, one where it was not—to better understand how companies can implement the balanced scorecard system to their advantage. (Article)

Traditional and Emerging Methods of Electronic Assurance
By Glenn L. Helms
The demand for real-time financial information and the implementation of electronic information systems has increased the pressure on assurance providers to keep pace. Traditional assurance procedures must be adapted to an increasingly paperless environment. A truly continuous auditing environment will require a combination of techniques to ensure that sufficient evidence exists to maintain the integrity of the system. (Article)

The Big Splash: Goodbye Pooling, Hello Goodwill Impairment Testing
By Rose Marie L. Bukics and Ben Chapman
The authors provide a concise overview of the most talked-about accounting standards in recent memory: SFASs 141, Business Combinations, and 142, Goodwill and Other Intangible Assets, which limit accounting for business combinations solely to the purchase method and require goodwill (and all intangibles) to be tested for impairment rather than amortized. The effects of these statements are far-reaching and substantial; any company with recorded goodwill must take note of their provisions and economic effect. (Article)

Liberalized Rules for Tax-Free Spin-offs
By Randy A. Schwartzman
The IRS recently liberalized the long-unpopular rules and provisions governing tax-free spin-offs, which were considered to have adversely affected transactions with legitimate business purposes. While the requirements for tax-free status remain stringent and some issues remain unresolved, the Treasury Department has provided some welcome guidance and made some rules more manageable. (Article)