Education & Careers news

A&A

White Paper Overview: Small Business Owners Should Maintain Control

A new study shows that family-owned small businesses have fewer fraud and cost problems than big companies, or other small companies with outside managers.The white paper, produced under a contract with the Small Business Administration's Office of Advocacy, stated that owners that manage their own businesses keep costs down effectively.
Practice Management

Deloitte Head Predicts Single Global Partnership Structure for Big 4

William Parrett, chief executive of Deloitte Touche Tohmatsu, the firm’s global umbrella organization, said that he expected “both from a business standpoint and a regulatory standpoint, [that the] larger firms will evolve to a global partnership over the next decade,” The Australian reports. The existing structures consist of networks of member partnerships established in the countries in which they operate. Mr. Parrett said that although it would constitute a huge change, regulators were likely to push accounting firms to become single global partnerships.
Education & Careers

Accounting Education: UT Retains Top Ranking

In its annual ranking of accounting programs, Public Accounting Report has given No. 1 status to The University of Texas at Austin's McCombs School of Business.It's the university's 11th No. 1 ranking by Public Accounting Report, according to a survey of accounting professors and college department heads. “It's all about the faculty,” said Ross Jennings, who leads the winning “accounting team” at the University of Texas.
Education & Careers

Ask Tough Questions Before Decision to Start Franchise

High startup costs, long hours, and hitching your fortunes to a find-it-anywhere chain; these are the dilemmas that keep many entrepreneurs from starting a franchise. But some see advantages instead of obstacles and leap in with both feet. Some franchise owners see great value in services the franchisor provides, such as use of the brand name, and the company's help in administration, finding a good location, training, store leasing, construction, and more.
Education & Careers

The Art of the Elevator Speech

In a world that is as busy and hectic as ours is, it is important for you to have some idea on how to properly answer the question, "So what do you do and where do you work?" This is your 20-30 seconds of fame, the time when you have someone’s attention and you can distinguish your firm from all others.
Tax

CCH Learning Center Adds 2 New Specialized Libraries

Two new specialty libraries, the Accounting and Audit Specialty Library and the Sales and Use Tax Specialty Library have been added to the CCH Learning Center just in time for those working to complete their continuing professional education (CPE) requirements for 2005 or year-end financial reports.
Community News

History Made at Deloitte Tax Case Study Competition

The Mason School of Business at the College of William and Mary made history this month when both undergraduate and graduate teams took first place for their divisions in the Deloitte Tax Case Study Competition held in Orlando, Florida. William and Mary is the first university to place first in both divisions.As a member of the undergraduate team, I was really excited at the Awards Brunch on Sunday morning when the announcement was made that the W&M graduate team had received first place.
Technology

Computerized CPA Exam Transforming Education, Workplace

Changing the Uniform CPA Examination to a computerized test meant far more than switching from pencil and paper to a keyboard – not only for CPA candidates, but for accounting professors and employers as well.When the computerized exam began in April 2004, it was called the most significant change in the licensing of CPAs in the profession's 100-year history.With the change in format came differences in the knowledge and skills candidates are expected to demonstrate.
Education & Careers

CISA and CISM Are Strong Certifications

A study has found that the Certified Information Systems Auditor® (CISA®) and Certified Information Systems Manager® (CISM®) are notable certifications sought out by companies and hiring individuals.
Practice

CMA/CFM Credentials Designed for Professionals Working in Industry

The Certified Management Accountant (CMA) credential is conferred by the Institute of Management Accountants (IMA) upon applicants with a bachelor’s degree and at least two years’ management accounting experience, who have completed a four-part examination within a period of three years. Management accountants, who are employed inside industry, government, and academic fields are also called cost, managerial or private accountants, according to the Department of Labor’s web site.
Education & Careers

Accounting Professor Named Governor’s Professor of the Year for South Carolina

Christine Crosby, who teaches accounting at York Technical College, was named the 2005 Governor’s Professor of the Year for South Carolina’s two-year colleges in a ceremony last Thursday at the state Capitol Rotunda. The formal citation is accompanied by a $5,000 check.Ms. Crosby served as Accounting Program Manager, the equivalent of department chair, at York Tech for 10 years but left that position in 2005 to return to full-time classroom teaching and academic advising, according to a biography on the South Carolina Commission on Higher Education (CHE) web site.
A&A

Entrepreneurs Critical Piece of Economic Picture

Low taxes, manageable regulations and few obstacles to entering the business world are keys to encouraging small business growth around the world, a federal economist said last week."Countries around the global are discovering how important small business is for their growth and long-term economic health. Their policies toward entrepreneurship differ, but the results of similar policies are consistent,” Chad Moutray, chief economist of the U.S.
Tax

Tax Breaks for Dutch Witches

A court in the Netherlands has ruled that witchcraft lessons are tax deductible, the Associated Press (AP) reports. On September 23, Reuters reports, the Leeuwarden District Court reaffirmed the legal right of witches to write off the costs of learning to cast spells, practice divination and brew potions as long as it increases the possibility of employment and personal income.“Once you become a witch…you can pass along things you have learned,” Margarita Rongen, operator of the “Witches Homestead” in the northern Friesland province told the AP.
Practice Management

Wanted: Accounting Grads, Willing to Pay Gym Fees

Overworked accounting executives are finding that great pay and benefits aren't enough to attract top talent.Satisfying the crushing demand for accounting services means getting creative: offering athletic club memberships, flexible work schedules, telework options, bonuses, training opportunities and the intangibles, such as a positive “work environment” and “work-life balance.”
Practice

White Paper Overview: CPA Firms Lack Formal Staffing Programs

Few certified public accounting (CPA) firms have formal, documented programs for attracting and retaining qualified staff members a recent survey conducted by the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA). Survey results appear in the white paper Best Practices in Recruiting and Retaining Talented Staff. “Unfortunately, many firms believe that they lack the resources to implement a formal program.
Education & Careers

Wearing Your Career Aspirations on Your Sleeve

Student members of the Texas Society of Certified Public Accountants (TSCPA) were given “CPA 2B” and “Born 2B CPA” temporary tattoos as part of a lighthearted summer membership promotion. Student members were encouraged to take a picture while wearing the tattoos on their summer vacation and submit them to TSCPA.Entries showed TSCPA student members displaying their temporary tattoos as far away as the streets of Spain and the mountains of Peru and as close as a backyard pool in Texas. All submissions were entered in a random drawing for four $250 prizes.
Community News

Illinois CPA Society Offers Future CPAs Scholarships

The Illinois CPA Society has announced its annual Accounting Scholarship Program. The Society also announced two additional scholarship programs – the Herman J. Neal Scholarship Program and the Women’s Executive Committee’s Advancing Women in Accounting Scholarship.The Accounting Scholarship Program awards up to six scholarships of up to $4,000 each to outstanding accounting students and planning to become CPAs, who demonstrate both academic achievement and financial need. Applicants to this program must be a U.S.
Education & Careers

One Firm’s Answer to the 150 Credit Hour Requirement

For many younger employees, benefits can seem pretty irrelevant. Not at Beers & Cutler, a leading accounting and consulting firm in the Washington, D.C. metropolitan area. On Monday, Beers & Cutler announced its 150 Hour Tuition Reimbursement Program.The program is an innovative tuition reimbursement program to assist qualified undergraduate and graduate students in meeting the 150 credit hour requirement in order to sit for the CPA exam.
Technology

Finance and Accounting Outsourcing is Expanding

The Everest Research Institute reports that the Finance and Accounting Outsourcing (FAO) is an expanding sector in the Business Processing Outsourcing (BPO) market. Approximately 70 percent of the 108 multi-process FAO contracts have been signed since 2001 according to the report. Industry analysts estimate in the current edition of Tekrati that the value of current FAO contracts have reached $12 billion.
Education & Careers

Katrina Exodus Proves Just How Mobile Americans Are

America is a mobile society. A fact demonstrated by the 1.3 million households from the Gulf Coast communities affected by Hurricanes Katrina and Rita that USA Today reports have dispersed to every state in the nation.

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