From the chairman.

• Author: Taggart, David M.
• Position: Financial management

During fiscal 2004, financial executives continued to respond to an even more dynamic regulatory environment. Over the next year, companies will face increased demands for financial information from new FASB rules, shortened SEC reporting deadlines and Sarbanes-Oxley 404 implementation. IASB and FASB efforts to converge will present an even greater challenge in the years to come. In the midst of all of these changes, Financial Executives Research Foundation (FERF) delivered practical information to meet the needs of financial executives.

FERF achieved much success during fiscal 2004 by focusing on high quality, timely research that is useful to, and provides valuable insights from, leading financial executives. We exceeded the number of publications promised to subscribers, including our quarterly Financial Reporting and Regulatory Updates and Quarterly Benefit Plan Sponsor Updates, various Issue Alerts and Topical Alerts, and the following in-depth Executive Reports:

Analysis and Implications of the New Proxy Voting Rules, by Burton Rothberg and Steven Lilien of Baruch College

Valuation of Employee Stock Options and Other Equity-Based Instruments, by Ronald D. Rudkin and Rod A. Parsley of Analysis Group, Inc.

Changing Roles of Financial Management, by Stephen Jablonsky, Penn State

Corporate Governance: Best Practices for Financial Management, by Cheryl de Mesa Graziano, Director of Research, FERF

Meeting the Street, A Discussion of Earnings and Other Guidance Provided to Investors, by Robert Kueppers and Greg Weaver, Deloitte

Effective Implementation of Cross-Border Mergers and Acquisitions, by Charles Sheffield, Finquest Partners

ROI and the IT Value Life Cycle, by William Walton, Beta Group

Everything You Wanted To Know About XBRL, but Were Afraid To Ask: A CFO's Guide, by Taylor Hawes, Microsoft and Issac Chefeitz, Open Technologies

We are proud of new product innovations in Fiscal 2004. Early in the year, we launched FELIX, a moderated, e-mail based discussion forum that allows FEI members to communicate with and learn from their peers on such topics as Sarbanes-Oxley compliance and audit and tax services.

In January, we released FERF Pros, an enhanced version of FERF's current Subscription Program that combines FERF research and unlimited CPE credits via an online distance learning programs. During that month, we also launched our Chapter Tribute program that allows FEI chapters to underwrite Executive Reports in honor of long-time...