10. Keeping an eye on accounting standards

As we enter 2011, the International Accounting Standards Board and the Financial Accounting Standards Board are continuing to converge standards. Their work, notes David Larsen, managing director at independent financial advisory firm Duff & Phelps, includes accounting for financial instruments, fair value measurements, leases and consolidation.

"The timetable may be overly aggressive, especially when combined with the fact that both the IASB and FASB will have new leaders in 2011, FASB will add two new board members, and a good deal of dissension exists concerning current proposals, especially related to financial instruments," says Larsen.