News

Technology

Lotus iNotes Provides Web Access

IBM's Lotus Development has announced availability of its new iNotes Web Access software.The program offers corporate Notes users access to personal and company information, including calendar, e-mail, and address book functions.

Bill Paying Blues

Have you experienced difficulty in paying your bills? Perhaps the bill gets paid but you continue to receive a monthly statement showing the amount still due. Or perhaps you receive a bill that doesn't provide an itemized description of the services you purchased - only a total amount. Do charges appear on your credit card statement that don't look familiar?
Tax

IRS Publicizes Tax Scams

The IRS's Criminal Investigation unit (CI) has launched a new area of the IRS web site dedicated to providing information about tax scams and fraud schemes.The Criminal Investigation unit is the law enforcement arm of the IRS. CI cites its mission as serving the American public by investigating potential criminal violations of the Internal Revenue Code and related financial crimes in a manner that fosters confidence in the tax system and compliance with the law.

Bush Nominates New SEC Leader

President Bush has nominated Harvey Pitt to be chairman of the Securities & Exchange Commission. Mr. Pitt, a corporate lawyer, was former general counsel to the SEC under President Jimmy Carter.President Bush announced his intention to nominate Mr. Pitt earlier this year. Now the nomination has officially be sent to the Senate Banking Committee. This committee will schedule a confirmation hearing and ultimately Mr.
Technology

Worldwide Spread of Viruses Boosts E-Security

E-security rose to the top of the business agenda last year because of cybercrime that shut down popular web sites and spread viruses worldwide. And there are plenty reasons to beware. Recently, for example, morbid surfers who thought they were downloading a pirated copy of the execution of Oklahoma bomber Timothy McVeigh were tricked into installing a computer virus. Grisly hoaxWithin hours of the death of Timothy McVeigh by lethal injection, files pretending to be video clips of the execution at the Indiana prison were circulating in chat rooms.

Role of the Marketing Director and What Creates Results

The Role of the Marketing Director and What Creates Marketing ResultsPresented by Allan BoressAllan S.

FASB's New Rules are Now In Effect

Important dates:Effective March 15, 2001, all companies with fiscal years after this date (but not calendar year companies) are entitled to elect early adoption of the FASB's new purchase rules.Effective June 30, 2001, pooling is officially eliminated. Mergers and acquisitions occurring after this date must use the purchase method.
Tax

Don’t Fall for IRS Rebate Scam

Some people will do anything for a buck - they might even try to take advantage of confused taxpayers.
Community News

E&Y Tops Worth Magazine Reader's Choice List

Worth magazine has named Ernst & Young the top rated financial planning provider for the second consecutive year. The decision was a result of a reader's choice survey in which respondents rated 18 different products and services they had used in the last five years on a scale from one to 10. The rankings are currently available in the magazine's July/August issue now on newsstands.
Technology

AccountingWEB Software Resource Center

AccountingWEB Software Resource CenterAccountingWEB boasts an excellent collection of software resources relating to the accounting profession.
Tax

Tax Relief for Married Couples

by Julian Block, attorney and former IRS investigatorPresident Bush’s tax package helps millions of two-income couples. It’ll eventually provide partial relief for those burdened by what has come to be known as the marriage penalty, the long-standing law quirk resulting from the imbalance in the standard deduction amounts (they favor singles over marrieds) and the way the tax brackets are structured.

AccountingWEB Weekly Resource Guide - Issue 8

AccountingWEB Weekly Resource Guide - Issue 8 July 9 - July 13, 2001 ACCOUNTINGWEB'S RESOURCES1. Workshop: The Role of the Marketing Director and What CreatesMarketing Results2. Workshop: Performance Appraisals3. Workshop: Introduction to Web-Based Auditing4. Find the Right Accounting Software for Your Client5. Training . . . Where and How to Find a Training Coordinator6. Marketing Help for Small Business7. Basic Computer Maintenance Tips8.

Intacct Extends XML Developer Kit to Partners

Intacct Web-based Accounting Service Extends XML Developer Kit to Potential Integration Partners Leading provider of enterprise-class online accounting offers first full accounting-based XML kit service to ease integration processJuly 9, 2001 (Los Gatos, Calif.)—Intacct Corporation, the leading provider of enterprise-class online accounting, today announced the launch of the XML Developer Kit, part of its XML partner integration program. The XML Developer Kit (XDK), which is available for a nominal fee to Intacct’s E-Practice and other channel partners, is designed to streaml

H&R Block Finds $1 Million Winner

H&R Block has found the winner of its Million Dollar Giveaway Contest, and just in the nick of time.
Tax

IRS Offers New Withholding Calculator

The IRS has added a new withholding calculator to its Web site. The calculator has been updated to reflect the new 2001 income tax rates that became effective July 1.Using the withholding calculator, you can determine the appropriate federal income tax withholding for your income and deductions.

SEC Takes on Accounting Fraud

Congress may join forces with the Securities and Exchange Commission (SEC) in its investigation of hundreds of companies for possible earnings manipulation.Rep. Richard Baker (R-LA), chairman of the House Financial Services subcommittee on capital markets, has indicated that the House may call for hearings on the problem of accounting fraud in U.S. companies.Rep. John LaFalce, (D-NY), recently noted that executives are increasingly under pressure to meet analysts’ earnings estimates.
Technology

Research Reveals Holiday E-Mail Addicts

A Gartner survey shows that 42 percent of users check their business e-mail while on vacation, 23 percent check e-mail on the weekends.On weekdays, 53 percent of business users check e-mail six or more times a day, while 34 percent of users check e-mail constantly throughout the day. On average, business users spend 49 minutes per day managing e-mail accounts.

AICPA Releases Statement on Auditing Standards

The American Institute of Certified Public Accountants (AICPA) has released an exposure draft on auditing standards that is significantly more detailed that the current SAS No. 41. The new statement, if approved, will replace SAS No. 41.The AICPA is soliciting public comments on the exposure draft now through August 27.
Tax

Recalculating Quarterly Tax Estimates

The change in the tax rates due to recent tax legislation provides a planning opportunity for tax advisers. Taxpayers need to be aware of the impact of the new, slightly lower tax rates, which may have an effect on planning for third and fourth quarterly estimated payments. New tax tables published July 1 reflect the change in tax rates. Some taxpayers may benefit from a slight reduction in quarterly payments.

Improving Financial Reporting and Disclosure

The Business and Economic Review has published a thorough report on current SEC reporting requirements and the significance thereof. The article reviews the role of the SEC in financial reporting and discusses recent legislative initiatives on the part of the SEC to improve the quality of business information.Topics covered in the report include: Financial Reporting. According to recent SEC findings, corporations do not release certain types of financial information on a timely basis, nor do they report a sufficient amount of information.

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