Because once a client signs up for a hosted CRM or accounting application and begins paying their monthly fees, I get a small piece of that long term revenue stream.

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With the growth of these cloud infrastructure companies, SMBs can purchase their accounting (and any other business application) outright and install it on their rented server.

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The tablet PC represents a fast-growing application for touch screens, accounting for 26 million units in 2010.

ENGADGET: Report: Touchscreen demand to grow by 90-percent, led by mobile, tablet markets

In 2008 and 2009 I probably wrote more than anything else about needlessly destroying bank capital with a strict application of mark to market accounting.

FORBES: FASB's Return to Mark-to-Market Sanity

As I railed over and over in blogs, speeches and TV appearances prior to April 2009, the strict application of mark to market accounting to banks had a devastating impact on bank capital during the early stages of the financial crisis.

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However, that may not be the case if 200 or 2, 000 banks fail because most held mortgage-backed-securities they thought were safe because of their AAA ratings and because the strict application of mark to market accounting for those securities in a frozen market wiped out their capital on a massive scale.

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Mobile phones are the major application for touch screens in terms of unit shipments, accounting for two-thirds of units shipped in 2010.

ENGADGET: Report: Touchscreen demand to grow by 90-percent, led by mobile, tablet markets

This publication does not, and is not intended to, provide legal, tax or accounting advice, and readers should consult their tax advisors concerning the application of tax laws to their particular situations.

FORBES: The Hidden Tax Lesson In Chief Justice Roberts' Obamacare Ruling

Congress is threatening to pass a bill creating a new Federal Accounting Oversight Board if FASB does not provide a change in fair value application by early April.

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