The AICPA\u27s 10 Guiding Principles

Explains the ten guiding principles of good tax policy of a framework outlined in American Institute of Certified Public Accountants Tax Policy Concept Statement No. 1. Analysis of the guiding principles; How the principles can be used to analyze proposals; Application of the guiding principles

Interoperability between central counterparties

In reaction to recent requests for interoperability between central counterparties of European stock markets, regulators have issued new guidelines to contain systemic risk. Our analysis confirms that the currently applied cross-CCP risk management model can be a source of contagion, particularly if applied in multilateral frameworks. While regulators' new guidelines eliminate systemic risk, this comes at the cost of an inefficiently overcollateralised clearing system. We discuss further approaches that contain systemic risk while reducing or eliminating overcollateralisation. Interoperability is of economic importance as it may contribute to the efficiency and safety of a worldwide fragmented clearing infrastructure.interoperability between central counterparties, financial network, systemic risk, netting efficiency

Rising Expectations in Business Education

The article comments on the rising expectations in business education. It explains the term liberal education. It mentions the Liberal Education & America\u27s Promise Campaign launched by the Association of American Colleges & Universities in 2005. The article also notes that integrative learning is particularly relevant because it melds students\u27 professional and liberal educations