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STRATEGIC ISSUES...ONLINE  
For week of August 22, 2005, Issue #226
Featured Articles:
1.  Energy Tax Incentives at a Glance
2.  Focus on Fraud: Put Your Fraud Knowledge to the Test - Part IV
3.  Tech Tip Weekly: Bring on the Borders!
4.  Compliance Calendar
 
1.  Energy Tax Incentives at a Glance
 
The chart below summarizes some of the key incentives that were added by the Energy Tax Incentives Act of 2005.
 
INDIVIDUAL ENERGY INCENTIVES
New credit for: In effect: Maximum Amount
Energy efficient home improvements 2006 and 2007 $500 lifetime
Residential solar water heaters, photovoltaic and fuel cell property 2006 and 2007 $2,000 heater, $2,000 photovoltaic, fuel cell (unlimited)
BUSINESS ENERGY INCENTIVES
New credit for: In effect: Maximum amount:
Construction of new energy efficient homes 2006 and 2007 $2,000 per dwelling unit
Manufacture of energy efficient appliances 2006 and 2007 $75 million
New deduction for:    
Energy efficient commercial buildings 2006 and 2007 $1.80 per sq. ft. less any prior year deduction
ALTERNATIVE FUEL VEHICLE CREDIT
New credit for: In effect: Maximum for car/light truck
Hybrid vehicle 2006 - 2010 $3,400
Advanced lean-burn vehicle 2006 - 2010 $3,400
Alternative fuel vehicle    2006 - 2010 $4,000
Fuel cell vehicle 2006 - 2014 $12,000
 
2.  Focus on Fraud: Put Your Fraud Knowledge to the Test - Part IV
 
Here are the answers to last week's two sample questions typical to the CFE Exam in the Financial Transactions section:
 
c.  is Correct
One-for-one checking consists of checking each source document against a detailed list processed by the computer.  This technique is normally used for low volume input because of the cost and time involved.
 
b.  is Correct
Forged endorsement frauds are those check tampering schemes in which an employee intercepts a company check intended for a third party and converts the check by signing the third party's name on the endorsement line of the check.
 
This week's new questions typical in the Financial Transactions section and the Legal Elements of Fraud sections:
 
7.  White, an employee of ABC Corporation, intentionally issued two payments for the same invoice.  After the disbursements had been mailed, White called the vendor and explained that a double payment had been made by mistake.  She asked the vendor to return one of the checks to her attention.  When the vendor returned the check, White took it and cashed it.  According to Occupational Fraud and Abuse, this is an example of:
 
a.  a shell company scheme
b.  a pass-through scheme
c.  a receivables skimming scheme
d.  a pay-and-return scheme
 
8.  The statute that specifically outlaws the giving or receiving of anything of value for the purpose of improperly obtaining or receiving favorable treatment in connection with U.S. government contracts is
 
a.  The Foreign Corrupt Practices Act
b.  The Anti-Kickback Act of 1986
c.  The Civil False Claims Act
d.  The "Honest Services" Act
 
3.  Tech Tip Weekly: Bring on the Borders!
 
To emphasize sections of your MS Excel worksheet or parts of a particular table, you can add borderlines or shading to certain cells.  Don't confuse the borderlines that you add to accent a particular cell selection with the gridlines normally used to define cell borders in the worksheet -- borders that you add are printed whether or not you opt to print the worksheet gridlines.
 
To add borders to a cell selection, choose Format, Cells.  Click the Border tab from the Format Cells dialog box that opens.  Select the type of line you want to use in the Style area of the dialog box (such as thick, thin, bold, or hash marks) and then select from the Border section of the dialog box the edge or edges you want this line applied to.
 
When selecting where you want the borderlines drawn, keep these points in mind:
 
-To have MS Excel draw borders around only the outside edges of the entire selection, click the Outline button in the Presets section of the Border tab. 
 
-If you want borderlines to appear around all four edges of each cell in the selection (like a paned window), select the Inside button in the Presets section instead.
 
To get rid of borders, you must select the cell or cells that presently contain them, open the Format Cells dialog box, and click the None button in the Presets section.  Note that you can also do the same thing by clicking the first button in the Borders pop-up menu (the one showing only dotted lines around and within the rectangle).
 
4.  Compliance Calendar
 
August 24
-Employers deposit Social Security, Medicare and withheld income tax for payments August 17, 18, and 19.
 
August 26
-Employers deposit Social Security, Medicare and withheld income tax for payments August 20, 21, 22, and 23.
 
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