SEEN H E A R D $11.6 bil lion

Compensation earned by the top 25 hedge fund managers in 2008.

Source: Institutional Investor/Alpha Magazine

Recession Changes Accountant’s Role

While the US Bureau of Labor Statistics continues to report month- over-month job

Reporting Standards (IFRS), the Economic Stimulus Package and need for financial analysis, budgeting and forecasting during the recession Their responsibilities, however, are changing

Ajilon Finance polled 688 finance and accounting professionals as part of the Institute of Management Accountants' Inside Talk Webinar Series, to gauge how the current economy is impacting jobs, companies and the accounting profession According to the survey, 75 percent feel that the recession has changed their on-the-job responsibilities, with 59 percent citing more time spent on cost-cutting initiatives Twenty-seven percent cited more time spent on risk assessment, a further 27 percent cited providing financial advice to their companies, and 9 percent cited a focus on regulatory work In the face of these changes, Ajilon offers finance professionals these tips:

1 S t a y f o c u s e d It ’ s easy to lose sight of the most important task fostering and growing business profitability Finance managers should work closely with all stakeholders and anticipate their needs in the current economy

2 Fo l l o w t h e s t i m u l u s Company leaders should think about how this capital infusion will affect their company ' s business, in order to better prepare for market changes

3 P a y a t t e n t i o n t o T A R P Companies should review their accounting and legal teams to ensure they have the necessary talent to handle increased government regulation should their business participate in the Troubled Asset Relief Program (TARP)

4 R e d u c e c a r b o n f o o t p r i n t s An easy way to trim costs is to reduce office energy usage Significant cost savings can be realized by turning off office equipment at night and switching off unnecessary lighting

For more information, visit www ajilon com

IFRS Inspires Mixed Feelings

Grant Thornton LLP ’ s national survey of CFOs and senior comptrollers from public and private entities reveals that 49 percent believe US companies should be permitted to use IFRS instead of US GAAP for filing financial statements with the SEC The remaining 51 percent, however, sits on the other side of the fence Given the choice, 40 percent would choose to never use IFRS, while the rest are looking to bide time before implementation Twenty percent said they would start using IFRS in 2011, 19 percent would prefer to start using IFRS some time after 2016, and another 18 percent favor 2014

Visit www grantthornton com for more

1.5 million

The number of accountants and auditors

States by 2016.

Source: Bureau of Labor Statistics, Occupational Outlook Handbook, 2008-09 Edition