News

Grant Thornton Backs CPA2Biz in Lawsuit

Earlier this week, BDO Seidman filed a lawsuit against the American Institute of Certified Public Accountants, CPA2Biz, and Shared Services LLP, alleging unfair business practices and restraint of trade. The lawsuit, which lists 93 separate complaints, seeks, among other things, to enjoin the defendants from continuing the operation of the AICPA's for-profit Web portal, CPA2Biz. Chicago-based accounting firm and CPA2Biz auditor Grant Thornton has joined the dispute by siding with the AICPA in this matter.

Indiana CPAs Support Global Credential

CPAs in Indiana are highly supportive of the proposed interdisciplinary global business credential, the Indiana CPA Society has found, after concluding a series of 15 statewide professional issues update programs. Based on survey data from more than 1,300 Indiana CPAs, an overwhelming percentage have expressed their support for the concept.

AccountingWEB Weekly News Wrap-Up - Issue 116

AccountingWEB Weekly News Wrap-Up - Issue 116October 12, 2001This News Wrap-Up Sponsored by:PricewaterhouseCoopers-ComperioNEWS FOR ACCOUNTINGWEB MEMBERS1. XYZ's New Name - And the Winner Is…2. BDO Seidman Files Lawsuit Against CPA2Biz3. PwC Among Top 10 Firms for Working Mothers4. Deloitte & Touche Acquires Chicago Firm5. AICPA Statement on FASB Decision6.
Community News

RSM McGladrey Continues Expansion with Two Acquisitions

National accounting, tax, and consulting firm, RSM McGladrey, a subsidiary of H&R Block, has announced the acquisition of Dallas accounting firm Fisk & Robinson."Adding Fisk & Robinson to our existing Dallas location strengthens our presence in one of the top-25 markets in the country," said Tom Rotherham, CEO of RSM McGladrey.

XYZ's New Name - And the Winner is…

First it was Cognitor, which met with a strongly negative reaction. Then XYZ became the placeholder, while the AICPA came up with a permanent replacement. Now the decision has been made and it appears that this one is final.The new name for the proposed global business credential is Strategic Business Professional.

PA Institute of CPAs Opposes Global Credential

The Council of the Pennsylvania Institute of CPAs (PICPA) has voted to oppose the AICPA's proposed global business credential, formerly called XYZ and now called Strategic Business Professional (SBP).
Tax

Virginia Man Just Loves to File Tax Returns

Twenty-five year old Barry A. Johnson, of Virginia Beach, VA, has been accused of creating false tax returns. Lots of false tax returns.At last count, Mr. Johnson has been found to have used the names and Social Security numbers of other people to file 174 tax returns (presumably in addition to his own, legitimate tax return), hoping to receive a total of $270,000 in tax refunds. The actual amount of refunds received by Mr. Johnson is approximately $40,000.Mr. Johnson has been filing tax returns on behalf of others since 1998 and may face up to five years in prison if he is convicted.

PwC Among Top 10 Firms for Working Mothers

PricewaterhouseCoopers (PwC) has retained its Top 10 position on the annual "100 Best Companies for Working Mothers" list, published by Working Mother magazine, ranking sixth in the nation.
Tax

IRS Closes Office After White Powder Scare

The Internal Revenue Service office in Covington, Kentucky was closed Tuesday after a mailroom employee said she saw a cloud of white powder come from an envelope after it was opened.The office was closed for six hours. The mailroom employee who opened the envelope was decontaminated by hazardous materials personnel and then taken to a nearby hospital for observation, however the employee did not exhibit any signs of illness.

BDO Seidman Files Lawsuit Against CPA2Biz

Chicago-based accounting firm BDO Seidman has filed a lawsuit against the AICPA, the AICPA's for-profit Web portal, CPA2Biz, and Shared Services LLC, a combination of the AICPA and state CPA societies that have licensed their members' data for use by the portal, alleging unfair business practices and asking that the portal be enjoined from further business.The essence of the complaint is an accusation of violation of federal antiturst laws in conspiring to give the portal unfair advantages in delivering products and services for CPAs to offer to their clients.

Business Terms Glossary - Hone Your Business Skills

If you're looking to brush up on business terms for your job, or if you just want to sound like you've got the ins and outs of the business world down pat, the Washington Post's Glossary of Business Terms will do the trick. With more than 1,250 business terms organized alphabetically, the site lets you browse by letter or search by word. The glossary is broad, and includes basic definitions of terms like "agreement" and "sale," as well as definitions of complex processes like calculating a futures contract multiple and dynamic hedging.

Intuit Forms Alliance to Deliver Live Online Advice

Keen - Your Personal Advisor, and Intuit have announced a multi-year agreement to deliver tax and accounting advice to consumers and small businesses.Under the agreement, customers using Intuit's TurboTax software, TurboTax for the Web, and QuickBooks programs including QuickBooks Payroll solutions will be able to link from these products to co-branded pages hosted by Keen, providing customers with the ability to immediately access advice, either live over the phone or as an arranged service via e-mail.In addition, potentially thousands of Intuit tax and accounting professionals will joi
Education & Careers

Illinois CPA Society Launches New Site for Students

Students interested in a career in accounting can find all the answers they need with just one click of the mouse. The Illinois CPA Society announces the launch of www.FutureCPA.org, the exciting new website that is devoted to providing students of all ages with valuable resources and the latest accounting career information. Students can reference information on scholarships, loans and grants, and review a list of two-and four-year Illinois colleges and universities that offer accounting programs.
Community News

Deloitte & Touche Acquires Chicago Firm

Deloitte & Touche has acquired the assets of Chicago-based firm Klayman & Korman LLC, an accounting and consulting firm ranked 13th among Chicago firms and 70th nationwide.The acquisition includes the information technology consulting practice of subsidiary Klayman & Korman Information Technology Group LLC.Klayman & Korman is a $17 million firm with 16 partners and 155 employees.
Education & Careers

Wall Street Journal Launches New Site for Students

The Wall Street Journal has launched College Journal, a free site for undergraduate, graduate, and MBA students providing job-search and career-guidance information.

Understanding Your Clients' Needs

Understanding Your Clients’ Needs – Becoming More Than Just an AccountantPresented by Harvey A.

VAT registration

Can you advise me. I am a Uk based company who co-ordiantes wedding in Italy. I am getting near the £54K for VAT registration. Since all the majority of the servies I provide my clients with are based in Italy can I charge my clinets VAT only on my co-ordination fee rather than say on the photogrpaher and caters?I have contacted the Inland Revenue but they did not give me a clear answer.Helen helen lord
Tax

Michigan Joins Multi-State Sales Tax Pact

Michigan Governor John Engler signed legislation that allows Michigan to join 19 other states in the Streamlined Sales Tax Project, a multi-state tax simplification pact that will ease the rules for sales tax collection on Internet sales.
Tax

NATP President Voices Concern Over Proposed OIC Fee

Larry Gray, President of the National Association of Tax Professionals (NATP), played a key role in voicing the concerns of tax professionals with regard to the IRS's effort to restructure the Offer in Compromise (OIC) program.Mr. Gray met with senior IRS personnel, including Robert Wenzel, IRS Deputy Commissioner and Kevin Brown, Assistant to the Commissioner, in Washington DC, to discuss the cost of streamlining the collection process and improve communications with the IRS. "Our goal is to improve the communications with the Service.

AICPA Statement on FASB Decision

The Financial Accounting Standards Board (FASB) recently decided NOT to allow extraordinary treatment of financial statement items relating to the September 11 terrorist attacks.

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