According to the Association for Financial Professionals' 2008 Compensation Report, compensation for financial professionals in 2007 outpaced that of the national workforce as a whole, continuing the trend of past years. Financial professionals reported an average annual salary increase of 4.5 percent, more than 36 percent higher than the national average, and bonuses averaged 15 percent of their base salaries.

Weaknesses in the cash management world have been exposed over the last several months. Seemingly sound investments like auction rate securities, variable-rate demand notes, mortgage-backed securities have acquired unforeseen risk after investment banks revealed shortcomings tied to structured investment vehicles and collateralized debt obligations.

In many instances, accounting is referred to as the language of business. Its function is also to be a primary source of quantitative financial information, used by decision makers within a company and by external investors to gain an accurate assessment of a company's financial performance and value.

Our lead article targets market risk as it asserts that treasurers need more resources to accomplish portfolio goals, written by Aron Chazen, managing director of Treasury Curve, LLC. Meanwhile, Enterprise Risk Management is no longer an option for many firms according to Bruce Branson, associate director of the North Carolina State ERM Initiative. Wolfgang Koester, CEO of FiREapps discusses Knowing When to Build the Case for Change in the realm of foreign exchange.

The career coach addresses the latest in technology that makes quick business of resumes: Look into communications tools like BlackBerries, Twitter and TwitPitch.

Treasury professionals continue to become more involved in the preparation of SEC filings, especially 10Q and 10K footnotes. The good news is that there are some general rules that can reduce the stress involved.

The British Bankers Association (BBA), the entity that reports the LIBOR, in June announced plans to overhaul the index. This is a story of romance and money.

In this governance issue of AFP Exchange magazine, we explore the leadership role that corporate executives and financial professionals play as companies begin to develop their climate risk mitigation strategies.

The Accounting Standards Board gave Canadian companies a long transition to move to IFRS, but that deadline may come soon for companies without transition plans. This issue continues the countdown to IFRS implementation around the world, with an emphasis on the U.S. and Canada, following AFP of Canada's Treasurers Forum last month.

The 2008 AFP Liquidity Survey examines organizational holdings of cash and short-term investments, as well as the credit crisis and its impact on investment strategies. Decisions to stockpile cash, or use it for share repurchases or investments in long-term business opportunities, can be seen as important economic indicators.

The Financial Accounting Standards Board (FASB) is seeking comment on an exposure draft of a proposed Statement of Financial Accounting Standard.

Guidance on accounting for transfers of financial assets and the consolidation of variable interest entities will be a priority for simplification, the Financial Accounting Standards Board (FASB) said June 4.

The Financial Accounting Standards Board (FASB) is asking for comment on proposed guidance to reform disclosures about the credit derivatives market. The proposed guidance is intended to enhance transparency of credit derivatives and guarantees on entities' financial positions, financial performance, and cash flows, according to FASB.

The Investors Technical Advisory Committee on May 23 strongly urged the Financial Accounting Standards Board and International Accounting Standards Board to proceed with fair value measurement for financial instruments.

The International Accounting Standards Board issued its 2007 compendium of non-controversial improvements to International Financial Reporting Standards May 22, a culmination of a year's worth of reviews.

A beneficial interest held by a transferor following a sale of financial assets is a new financial asset and should be measured at fair value, the Financial Accounting Standards Board (FASB) decided May 21.