July 4 marks Independence Day - our nation's 233 birthday. But what were those colonists all hot and bothered about any way? To answer that question, it pays to actually read the "Declaration of Independence." The document, after all, is our list of gripes against the British crown that led us to declare and fight for our independence.

by Leonard Steinberg

On December 12, 2008, SBE Council member Leonard Steinberg attended the semi-annual gathering of the Financial Accounting Standard Board's (FASB's) Small Business Advisory Committee. As Leonard outlines in his post-committee report, several critical issues were discussed, including: the credit crises and financial reporting implications for small firms; disclosures on certain loss contingencies; and, the adoption of International Reporting Standards and its affect on small or private companies. Committee members also received an update from the SEC and PCAOB. SBE Council thanks Leonard for serving in this appointed capacity, representing the interests of small business and our organization.