Gloria Mackenzie, an 84-year-old woman in Florida, is still living simply after winning $590 million in the lottery. She is driven around in her son's Ford Focus and still takes restaurant leftovers home. However, her lifestyle is changing in some ways: She is waiting to move into a luxury home under construction.
The National Association of State Boards of Accountancy is advising companies not to use the American Institute of Certified Public Accountants' recently released Financial Reporting Framework for Small- and Medium-sized Entities. Instead, the NASBA supports private companies' use of generally accepted accounting principles modified by the Financial Accounting Standards Board.