News

Community News

Andersen Will Review FBI

Big Five firm Andersen has been selected by the U.S. Justice Department to perform a comprehensive review of the Federal Bureau of Investigation.
Community News

Deloitte Attacks Rivals

In the wake of Accenture's initial public offering of last week, one firm stood out from the Big Five. Deloitte Consulting went public with its stand against going public.Deloitte Consulting took out large advertisements in both the Wall Street Journal and the Financial Times last Thursday, the same day that Accenture launched its float.The ads were part of a $10 million advertising campaign that Deloitte hopes will draw considerable attention to its consulting unit.

FASB Statements Available

The Financial Accounting Standards Board (FASB) has made available the actual statements that resulted from the Boards Business Combinations Project. These statements have now been published and you may order copies of the statements from the FASB.Statement 141, Business Combinations and Statement 142, Goodwill and Other Intangible Assets, are available at the FASB web site for $12.75 each.

Aussie Accountants May Have to Follow U.S. Example

The Australian counterpart to our Securities and Exchange Commission, the Australian Securities and Investments Commission (ASIC), has begun an investigation into auditor independence issues that closely mirrors the auditor independence analysis that our SEC performed last year. The SEC process resulted in U.S.

SEC Chair Would Reexamine Fair Disclosure Rule

Harvey Pitt, President Bush's selection for chairman of the Securities and Exchange commission, has indicated that, if confirmed, he would be willing to address the burdens placed on companies by Regulation Fair Disclosure (Reg FD). Reg FD, one of former SEC chairman Arthur Levitt's pet projects, requires publicly held companies to provide information that could influence the purchase of shares simultaneously to every potential investor.
Community News

Former FBI Agent Helps E&Y Fight Crime

Big five firm Ernst & Young has hired Charles Owens, a former FBI agent, to help advise clients on methods for minimizing exposure to white color crime and tracking fraud.Mr. Owens is part of E&Y's anti-fraud and anti-corruption unit, which is a division of the firm's Litigation Advisory Services. Clients from around the United States as well as other parts of the world will have access to Mr. Owens' talents.Mr. Owens left his office as chief of the white-collar crime section at the Federal Bureau of Investigation to take this job at E&Y.

Tips on Writing Client E-mail Newsletters

Once you have begun to gather e-mail addresses (opt in) from your clients, prospects and other interested parties, you need to reach out to them on a regular basis. One of the best ways is to prepare a monthly newsletter that will make them pleased that they are part of your firm and client base. Here are some helpful tips on getting your e-mail newsletter opened, read and acted on: THE SUBJECT LINE Do you ever go through your email in-box and delete messages without even opening and reading them? Most of us do. There is just too much e-mail and too little time.

AccountingWEB Weekly News Wrap-Up - Issue 104

AccountingWEB Weekly News Wrap-Up - Issue 104July 20, 2001This AccountingWEB Newswire Sponsored by:PricewaterhouseCoopers ComperioOutlookSoft CorporationNational Payment CorporationIntuit's QuickBooks ProAdvisor Program

AICPA Announces Plan for Vote on 'XYZ' Credential

This past spring, at its council meeting, the AICPA decided to put plans on hold for the controversial 'XYZ' credential until feedback could be obtained from the organization's membership.This September the AICPA plans to announce the official name for the credential, and soon after the fall council meeting, a national ballot will be offered to all members of the AICPA, wherein members can cast their vote on the fate of the credential.The AICPA has indicated its intention to abide by the results o
Community News

KPMG Ads are Par for the Course

Do not attempt to adjust your television set. That trap shot Phil Mickelson holes in KPMG Consulting's first-ever TV spots as a public company this weekend really took place. With KPMG Consulting CEO Rand Blazer holding the pin, Mr. Mickelson sinks a shot on the edge of a bunker by turning his back to the pin and swinging in the opposite direction. Using a wedge, the ball travels behind and over Mr. Mickelson's head and lands square in the cup."As incredible as the shot was, the fact that Phil holed it on the third take of filming was absolutely astounding," said Mr. Blazer.

CPA Firm Information Management

CPA Firm Information Management - Moving Beyond Practice ManagementPresented by Tom DavisPresident of Knowledge Concepts and Managing Partner of Davis, Nichols & Associates LLPContact Tom at tdavis@tcdcpa.comJuly 19, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryYou can read the complete transcript of the workshop.
Community News

Ready, Set, IPO

Shares in the initial public offering of Accenture were unleashed this afternoon. Accenture is trading on the New York Stock Exchange under the symbol ACN. The 115 million shares were offered at $14.50 and rose to as high as $15.10. The IPO put $1.67 billion into the company, and represented approximately 12 percent of the company's outstanding shares.

Independence Standards Board to Shutter its Doors

The Independence Standards Board (ISB) has served its purpose and is ready to disband.
Technology

Ten Quick Internet Tips To Save You Time

AccountingWEB has compiled a few tips, courtesy of Microsoft, to help you save time when you're online. These tips are for users of the Microsoft Explorer browser. To search for a word or phrase on a Web page, press CTRL+f to open the Find dialog box.

CCH Brings More Convenience, Technology advances to Tax.CCH.com

Destination Site Now Provides Free, Fast Access to IRS Code and Regs, Plus Wireless Access to Daily Tax News (RIVERWOODS, ILL., July 13, 2001) – CCH INCORPORATED annouces new enhancements to its popular http://tax.cch.com destination site for tax professionals include free use of its Internal Revenue Code and regulations from the convenience of the home page.
Tax

IRS's Tax Rebate Boondoggle

Everyone has had the experience of rushing too fast to get something done, only to find your quick actions resulted in a colossal mistake. The IRS knows just how this feels.This past Monday the IRS mailed over 100 million letters to taxpayers explaining the tax rebate program and describing the exact amount each taxpayer should expect to receive in the rebate check.

Excel Tip: Find Random Integer Within a Selected Range

Excel's random number generating function, RAND, normally produces a random number that is a five- or six-digit decimal greater than or equal to 0 and less than 1.
Technology

Microsoft's Confusing New Licensing Structure

by Gary Boomer, CPA, and Eric D. McMillen, MCSE, CCA, of Boomer ConsultingMany of you have heard that our favorite software company located in Redmond, Washington is introducing a new licensing plan and that it will affect your firm. But how many of you have any idea how it will affect you? I want to clarify how your firm will be impacted by the new licensing plan and what you need to do to prepare for it. Currently, Microsoft has three volume licensing plans for software.
Community News

KPMG Consulting Faces Unexpected Problems

When KPMG Consulting floated its initial public offering earlier this year, the next step on the firm's agenda was to consolidate its worldwide operations into one legal entity. The plan was to use the firm's equity to purchase its operations around the world, thus creating a single, global organization.The European firms were to link up with one another within months of the float, then, when SEC approval was in place, the U.S. operation was to consolidate with the European group. However, there were problems with this scenario from the outset.

Consulting Firms Enter Price War

The days of $350 per hour consultancy fees are just another hazy memory among Chicago's consultancy professionals.A tight economy and corporate cutbacks on spending for IT consulting are resulting in a price war, the likes of which few have seen.

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