AccountingWEB Weekly News Wrap-Up - Issue 93

1. AICPA Council Places XYZ Credential on Hold
2. Retaining Your Star Performers
3. Economy Slowing, but Benefits Growing
4. PwC Faces More Staff Cuts, Restructures Workforce
5. Test Your Internet Connection with this Handy Tool
6. Rapper Settles with PricewaterhouseCoopers
7. More Merger Talk Among Big Five
8. Value Added Services for the Accountant and the Client
9. Setting Up a New Company in QuickBooks
10. Anatomy of a Sale - Successfully Present Your Services

Learn how to maximize the power of your FRx Financial Reporting software, and earn CPE credit at the same time! Sign up for our hands-on Report Design class series (for all proficiency levels) and receive one hour of customized online training at no additional cost! Exclusive offer only by FRx Software Corp.-promo code 54AWGN.

May is Human Resources Month at AccountingWEB. To get us started, we've provided you with the interesting results of a study conducted by Hewitt & Associates in which America's most popular employee benefits are described and we have also included an article on how to retain your company's star performers.

This month's workshop schedule includes a seminar on the Benefits Improvement & Protection Act of 2000 (May 10), and we will be bringing you some focused articles written by specialists in the field, introducing you to key links and resources in the human resources arena, and bringing you material you can use in your business and pass on to your clients.

Gail Perry, Managing Editor
AccountingWEB, Inc.

1. AICPA Council Places XYZ Credential on Hold

A proposal to completely eliminate the proposed global credential was defeated at the AICPA Council meeting in Washington, D.C., but a resolution was adopted that will require the AICPA to educate members and solicit response from members before proceeding with the implementation of the credential commonly referred to as "XYZ."

2. Retaining Your Star Performers

Remember years ago when the market was so full of potential employees that the people working for you were happy just to have a job and wouldn’t even think about looking at alternatives? Well, welcome to the new world.

3. Economy Slowing, but Benefits Growing

A new study performed by Hewitt Associates shows that the economic downturn hasn't caused corporate America to shy away from providing benefits to employers. Read about which benefits are the most popular.

The Storefront package is our newest and most cost effective method of maintaining an ongoing presence within the community. Storefronts provide a number of marketing, branding, lead generating, and revenue generating opportunities year round. Contact the Sales department at 317-876-7525 or visit our DEMO Storefront page.

4. PwC Faces More Staff Cuts, Restructures Workforce

By reorganizing duties into a concept of "shared services," the Big Five firm of PricewaterhouseCoopers is able to cut over 1,000 jobs and not miss a beat when it comes to providing mail and clerical services.

5. Test Your Internet Connection with this Handy Tool

If you are considering a new Internet service provider or just want to know what options are available in your area, take this quick test.

6. Rapper Settles with PricewaterhouseCoopers

Grammy winning rapper Andre "Dr. Dre" Young has reached an out-of-court settlement with PricewaterhouseCoopers after accusing the Big Five firm of fraud and breach of contract and claiming the firm diverted cash from his accounts.

Earn CPE right from the comfort of your home or office. We offer several different ways to earn CPE and other professional designated training. We have also compiled a list of the top links to assist you with your ongoing research. If you are looking for CPE alternatives, CPE requirements for your state, or licensing and CPE requirements of another state, you can find it all here.

7. More Merger Talk Among Big Five

Andersen CEO Joseph Berardino has indicated the firm is willing to entertain the idea of a merger, and the topic will be discussed at a partners' meeting later this year.

8. Value Added Services for the Accountant and the Client

Michael Bolton, CA and CEO of Your Business Online, explains how accountants can shift their chargeable workload from data entry and compliance to high value business management, planning, and other professional services.

Learn how to maximize the power of your FRx Financial Reporting software, and earn CPE credit at the same time! Sign up for our hands-on Report Design class series (for all proficiency levels) and receive one hour of customized online training at no additional cost! Exclusive offer only by FRx Software Corp.-promo code 54AWGN.

9. Setting Up a New Company in QuickBooks

If you own a company and have decided to automate the company's accounting system, or if you are working with a client that plans to do this, here is a handy checklist that will help you or your client assemble all the necessary data before setup of an accounting software program can begin.

10. Anatomy of a Sale - Successfully Present Your Services

Do you get nervous when you have to meet with a client face-to-face? The event may not be so intimidating if you break up the process into identifiable steps. Bruce Clark, the founder and CEO of New Clients, Inc., explains how this is done.

Tuesday, May 8, 4:00-5:00 EST
Topic: "Performance Management, a Perfect Fit"
Presenter: Edi Osborne, CEO, Mentor Plus
Sponsor: College for Financial Planning

Thursday May 10, 4:00-5:00 EST
Topic: "The Benefits Improvement and Protection Act of 2000 (BIPA) - Understanding the Opportunities Created"
Presenter: Mike Stigler, CPA, FHFMA, Director, Blue & Co., LLC
Sponsor: International Group of Accounting Firms

Check out the Workshop Schedule for the upcoming spring and
summer sessions in our ongoing workshop series. Go to:

Click on the link(s) below to offer your insight and feedback or to see what others recommend:

1. What adjustments to what accounts are needed at year-end when a taxpayer uses the completed contract method?

2. What is the history of the purchase and pooling methods of accounting? When did each go into effect and what changes have been made over the years?

3. Are survivor benefits taxable?

4. For a sole practitioner CPA in a mid-sized Southern city, what might be typical range of fees for a tax practice primarily for individuals and small business? How many returns would be filed each year?

Visit the Q&A Forum to post your questions and share your ideas! Simply click on the Add Comments option at the bottom of any question to add your response and comments.

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