AccountingWEB Weekly Resource Guide - Issue 33
January 21 â January 25, 2002
This Resource Guide Brought to You By:
RESOURCES FOR ACCOUNTINGWEB MEMBERS
- The Well-Traveled Accountant - The Value of International Experience
- Free Tax Publications Available
- Provide Value-Added Services and Earn Commissions
- Free IRS Audit Guides
- Ten Questions To Ask Yourself About Your Communication Style
- Generation X Study Offers New Answers to Old Questions
- Improve Profitability Through Efficient Scheduling
- Help For Audit Committees In The Post-Enron Era
- New Options For Electronic Delivery of Sensitive Documents
- MS Windows Tip: Utilize Those Function Keys!
- Book Recommendation: Built to Last: Successful Habits of Visionary Companies
- Special Feature: The Top 10 Essentials of the 2001 Tax Relief Reconciliation Act
"Today's gossip is tomorrow's headline" â Walter Winchell, U.S. Journalist and Broadcaster
RESOURCES FOR ACCOUNTINGWEB MEMBERS
1. The Well-Traveled Accountant - The Value of International Experience
Fifty-six percent of chief financial officers (CFOs) polled said international experience will be at least somewhat necessary for accounting and finance professionals five years from now.
2. Free Tax Publications Available
The IRS has a publication that covers everything from aardvark to zyzzyva - free for the asking. The IRS has numerous publications on a variety of tax-related topics available.
3. Provide Value-Added Services and Earn Commissions
Changes in the AICPA's Code of Professional Conduct & UAA now allow CPAs to accept commissions in 40 of the 50 states. Increase both your and your client's cash flow while providing them a value-added service. Here's How! Make DGI part of your client's A/R strategy to collect on slow paying or delinquent accounts and you receive a commission on collected accounts. For 25 years DGI has delivered professional and ethical collection services to clients such as United Parcel Service, Toshiba, Kyocera Mita, Bausch & Laumb and hundreds of others around the globe. DGI is not an accounting firm, so there is no risk of competition. Call 800-562-7795 or visit us at http://www.davisandgoldmark.com/accountingweb.htm to learn more and get started.
Automobile Dealerships, Banking, Construction, Healthcare, Law Firms, Manufacturing, Real Estate, Retail, and State & Local Governments. Visit the IndustryZONE, today for the latest news, links, and information!
4. Free IRS Audit Guides
What are IRS auditors looking for when they look at attorneys? Construction companies? Auto dealerships? There is a resource available on the IRS Web site that describes the Market Segment Specialization Program, a program that focuses on developing highly trained examiners for a particular market segment. Check it out today.
5. Ten Questions To Ask Yourself About Your Communication Style
Take a look at some of the obstacles that may prevent you from reaching certain objectives during the communication process.
6. Generation X Study Offers New Answers to Old Questions
Not surprisingly, this study's results showed that women and minorities continue to feel shortchanged by the salaries, advancement opportunities, and other perks available in corporate America.
FREE INDUSTRY PROFILE
If you are committed to understanding your clients' and prospects' businesses and separating your firm from its competition, these Industry Profiles are the solution. Each Industry Profile gives you an up-to-date industry overview, key questions to ask on a marketing call, and industry specific Web site links. It also summarizes the industry's trends and developments, its threats and challenges, its opportunities and more! Print off this Free Profile Today at: http://www.accountingweb.com/firstres/buildingsupply/index1.htm
Contact our customer services department to inquire about bulk discount pricing on additional profiles at 317-876-7525 today!
7. Improve Profitability Through Efficient Scheduling
Guest author, Steven T. Erickson CPA, CVA shares his ideas on how maximize the profitability of your firm.
8. Help For Audit Committees In The Post-Enron Era
An article in Business Week entitled "How Governance Rules Failed at Enron" questions the effectiveness of today's audit committees. The article draws three lessons from the Enron collapse in an effort to help guide future regulation.
9. New Options For Electronic Delivery of Sensitive Documents
Whether you are a CPA sending tax information back and forth to your clients, or a company trying to pass invoices to your customers, secure, private delivery of these documents is paramount to your relationship.
10. MS Windows Tip: Utilize Those Function Keys!
Check out some of the dozens of shortcuts that are imbedded in those function keys on your keyboard. You may not ever learn them all, but there might be a few of these handy shortcuts that you'll pick up on and save yourself some time during the day.
MAKE YOUR FIRMS' DATA SING
How much more productive and profitable would you be if you could harness the power of all of the data in your various databases across the firm? Imagine your time & billing information linked to client databases which are talking to scheduling systems which feed your CRM solutions - all of which result in the creation of a management "dashboard" so you can quickly see what's happening across your firm FirmWorksÂ© software by Knowledge Concepts Inc., was created especially for the professional services firm.
11. Book Recommendation: Built to Last: Successful Habits of Visionary Companies
This analysis of what makes great companies great has been hailed everywhere as an instant classic and one of the best business titles since In Search of Excellence. Built to Last identifies 18 "visionary" companies and sets out to determine what's special about them.
12. Special Feature: The Top 10 Essentials of the 2001 Tax Relief Reconciliation Act
The summary covers the following areas of interest: Tax Rebates, Income Tax Rate Reductions, Marriage Penalty, Itemized Deductions and Personal Exemption Phase-Outs For High-Income Taxpayers, Child Tax Credit, IRA Contributions, Contributions To Employer Sponsored Retirement Plans, Tax Credit For Retirement Contributions, Dependent and Child Care Credit and the Estate Tax.
ACCOUNTINGWEB Q&A FORUM
Visit our Q&A Forum to post your questions and share your ideas with the members of AccountingWEB! Simply click on the "Add Comments" option at the bottom of any question to add your response and comments.
Here are just a few questions that have been posted this recently.
1. How do you recommend studying for the CPA exam? I cannot afford to take a review class but have purchased some software & books. Any advice would be appreciated.
2. Our firm is kicking around the idea of having a campaign where employees are encouraged to come forward with cost saving ideas. For example, if a person's idea is implemented, they would receive some kind of cash award. Has anybody tried this in his or her company? If so, what worked? What didn't?
3. A member would like to explore the possibility of preparing a trial balance and adjustments using Excel 97. If someone has an example of a simple client trial balance that they have prepared in Excel, please share it with us.
4. I have been told that I can use money from my retirement accounts to fund a business without penalty. This is called an entrepreneur rollover stock ownership plan and requires establishing a c corporation with which to transfer the retirement funds into. Is this legal and what would it cost to do this? This may be a recent change to retirement laws.
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