News

Bell Canada Upgrades AICPA WebTrust

Communications giant Bell Canada has decided to upgrade its WebTrust program to Version 2.0, the newest format for the electronic verification program developed by the American Institute of CPAs.Enhancements to the new version includes principles and criteria for privacy protection, and resolving any customer or client problems.

Ask Jeeves and PricewaterhouseCoopers Form Strategic Alliance

PricewaterhouseCoopers is now a global partner with Ask Jeeves, Inc., an online, intuitive answering service. The largest professional services firm plans to offer the Ask Jeeves’ suite of corporate services to clients who access human resources and benefits programs through PwC. The firm also will utilize the Ask Jeeves suite to serve employees.PwC will offer the new service as part of its standard HR outsourcing services.
A&A

Money-Saving Tips for Focus Groups

Who has time to do research in today's rush-rush environment? None of us, of course--but if companies don't make an effort to perform some type of testing prior to implementing a new service, they could lose out on collecting valuable data that could potentially end in mixed results.One way to accomplish short-term research is through a Focus Group, a meeting of unbiased individuals who can provide feedback, personal feelings, expectations and other factors related to a potential product or service.
Community News

PWC Promotes 'Net Incubator to Staff

Everyone working overseas for PricewaterhouseCoopers are about to be drawn in to an internal promotions effort designed to promote new e-businesses and encourage staff to create their own Internet start-ups. Known as PWC's e-business incubator service, the firm even is providing staff a three-month sabbatical to work on their proposals.The firm's service also is available to external clients as well, and is designed to develop the next big Internet concept using PWC's services and consultation.
Technology

Analysis Says TurboTax is Killer App

CPAs and accounting professionals often are asked about the advantages of filing online. Here's a new angle to an already crowded playing field: Annette Hamilton of ZDNet News has christened Intuit's TurboTax the next "killer app."The accounting news channels have been filled with story after story of online preparation sites, including H&R Block, H.D. Vest and Intuit.

Tax Shelter In Question

A tax shelter for U.S. insurance companies may be eliminated if members of Congress have their way. The shelter makes it possible for these companies to stop paying income taxes by simply moving their headquarters to Bermuda.According to a New York Times article, six insurance companies have already started using the loophole. They either moved their offices to Bermuda or were acquired by a Bermuda insurer.Of course, the code is not intended to allow this type of activity, so Congress is looking into the issue. Four other insurers have joined the fight as well.
Practice Management

Would Clients Notice If You Dropped Dead Today?

A morbid topic? Not really. Even so, I am reminded that one of my friends once told me that the number of people who turn up to your funeral is directly proportional to the state of the weather on the day. Not really a comforting thought is it?But seriously, would your client notice if you had expired, if you had gone to meet your maker or if you received a call from The Man Upstairs this morning?Truth is, they probably would.

More on Value Added - with Sylvia Pate

Sylvia PateQuicksilver ConsultingSession Moderator: Welcome and thanks for joining us. We have a lively workshop planned! Before we get started, let me assure you that we'll answer all your questions even if we have to look at them at the end of the session. Our workshop is interactive, so feel free to jump in at anytime!Let's introduce our workshop leader first.Sylvia Pate has a management consulting and development practice in Dallas.
Community News

KPMG Tests its Staff on Web Savvy

KPMG has taken a proactive approach to practicing what it preaches. The Big 5 firm's staff is undergoing a special training program to ensure they know the ins and outs of the same services delivered every day to a strong e-client base.The class is known as "Internet 101," and as simplistic as that sounds, it's really a basic course in some of the more detailed, technological aspects related to the Internet.Everyone is required to attend the class as a conduit to support the firm's increasing consulting revenues.
Technology

Traditional Bookkeeping Best for Online Companies

In mid-February, AccountingWeb brought its readers a story about potential changes to accounting rules regarding "pooling of interests."Late last week, members of the bipartisan lobbying firm, TechNet, testified before the Senate Committee on Banking, Housing and Urban Affairs that the issue of pooling, or changing traditional accounting rules related to mergers & acquisitions, should be kept as it is rather than changing the reporting procedures.The group argued

Excel Tip: Pivot Table Tutorial: Data Extraction

This is one in a series of Excel Pivot Table Tutorials developed by AccountingWEB software consultant David Carter.

Tax Attorney Sues Wells Fargo and Wins

The eighth largest bank in the U.S., Wells Fargo, was recently sued by a sole-practitioner for allowing stolen checks to be deposited into a personal checking account. The bank failed to confirm the identity of the account holders and by doing so, violated its own internal policies and procedures.The case involved sole practitioner and tax attorney, Robert Sommers, who hired an administrative assistant, Deborah Minton to handle administrative work and bookkeeping. Although the attorney spent weeks checking Ms.
Technology

Intuit Quickly Corrects Security Error

A glitch in advertising systems on the Quicken.com Web site recently caused a mortgage calculator and credit assessment function to report user information to one of Intuit's advertisers, DoubleClick, Inc. Intuit reports the problem has been corrected.Income, asset and debt information was mistakenly reported to DoubleClick, an Internet ad firm.
Community News

Andersen Plans Ahead for Internal Changes

There's nothing like being proactive, and Arthur Andersen is exhibiting signs that it plans to restructure itself internally in order to defend itself against potential mishaps. The goal, though, is to keep the firm in tact.Why? For starters, Andersen does not want to face independence issues like the ones that surfaced late last year for Big 5 rival PricewaterhouseCoopers.

Adjustments Made to Pentagon Books

How's this for creative accounting? According to the Pentagon inspector general, money managers in charge of the Pentagon's books made almost $7 trillion in adjustments last year so figures would balance.And the news gets worse ...

Review of Audit Committees May Call for Restructuring

A senior SEC official said Friday that a report from an independent committee is expected to require more restrictions for auditor independence and could possibly call for restructuring of public audit firms. The independent committee was hired to review the role of audit committees at publicly traded companies and will issue its first report in April and the final report by summer.The report by the Public Oversight Board is expected to have “very significant” findings.

Texas Society Opens Online Classifieds

The Texas Society of CPAs has expanded its variety of online offerings by adding a set of pages devoted to classified advertising.Categories include job opportunities (companies advertising position), positions sought, practices for sale, practices sought, peer review, incorporation, software for sale and "catch-all" miscellaneous.The Society has packages available, with discounts for pairing online ads with print ads in its bimonthly magazine, TODAY'S CPA.All questions should be addre
Community News

Andersen Inches Closer to Belgium Law Firm

The Belgium Bar, who makes and enforces rules relative to relationships between law firms and auditors, may ease up on previous restrictions preventing such alliances.This is good news for Arthur Andersen and its operations in Europe as it seeks to align itself with legal practices to gain a larger market share.Andersen has worked with the law firm of Caestecker & Partners for the last three years on an informal basis, and will consider a partnership with the firm should rules relax to allow such relationships.Still, experts at Big 5 firms s

New Law Under Fire

A law enacted last year is under fire as House Republicans announced today that they would push to reverse the new accounting rules. The law in question requires taxpayers to pay capital-gains taxes from a business sale in an immediate lump sum.The problem with the tax payout is that it affects all transactions, even those that cover several years. Lobbying groups for small businesses say this has had an adverse affect on the sale of businesses – reducing the sales prices of businesses by up to 20 percent in some cases.

AccountingWEB Weekly News Wrap-up - Issue 32

The AccountingWEB Friday Wrap-Up Newswire - Issue 32March 3, 2000http://www.accountingweb.comIn the news this week:1. Cap Gemini Merges With Ernst & Young Consulting2. PricewaterhouseCoopers Fights Back3. In General, Auditors Are Too Lax on Independence Standards4. Retirement Plans For The Masses5. Who You Gonna Call? Stress Busters!6. Follow Washington’s Lead and Help Feed The Hungry7.

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