Education & Careers news

Community News

CPA Poll Shows Employee Benefit Reductions Likely

Many New York state employers are likely to ask for employee benefit givebacks in an attempt to contain costs, according to a Labor Day Poll of CPAs in New York State.The New York State Society of Certified Public Accountants (NYSSCPA) conducts the Labor Day Poll to address current business issues and concerns around the State. The CPA Poll is a random sampling of the association's 30,000 members.According to the results, almost 60 percent of CPAs who responded said businesses are asking for employee contributions toward benefits.
Tax

IRS Looking to Hire 500 Agents Nationwide

With surveys showing that more people think it's OK to lie on their tax returns, the Internal Revenue Service is looking to hire 500 new agents to make sure returns are correct and that tax evaders pay up. The effort is part of a nationwide hiring campaign targeting 70 cities. The agency plans to start hiring revenue agents, revenue officers and tax compliance officers over the next several months ending in January 2005.
A&A

New Financial Designation is Geared towards Serving High Net Worth Clients

The College for Financial Planning (CFP) recently announced it’s enrollment for the College’s new Accredited Wealth Management Advisor (AWMA) Designation, is now open.John Sears, College President said, "As the leader in financial planning education, we are proud to offer this innovative new program for those who have high net worth clients and wish to serve them better, or financial professionals who seek to add high net worth clients."
A&A

Census Figures Show Slump in Women's Income

The gap in pay widened between men and women full-time workers last year, surprising analysts who could not explain why women's pay slumped for the first time in four years.Women made 75.5 cents for every dollar a man made last year, according to Census Bureau figures reported last week in USA Today. That figure in 2002 was 76.6 cents, an all-time high.
Practice Management

The Firm of Tomorrow....Ready, Set…Grow!

By Gale Crosley, CPAFirst, Consider Hiring a Business Development Professional. For years, the Big Four have used business development professionals. Now, Sarbanes/Oxley and other environmental changes make it a wise best practice for mid-size firms, as well. Although smaller firms have greater potential to pursue larger, more sophisticated clients, they may lack the needed large opportunity development skills. But it’s more complex than simply hiring the right person.
Tax

MBA Students May Lose Tax Deduction

The days of being able to deduct the expense of attaining a master's degree in business administration may be over.The U.S. Tax Court ruled against Tracy McEuen earlier this month, mostly because she didn't return to her previous job after earning her degree.
Education & Careers

Executives Reveal Their 'Dream Jobs' In Recent Career Survey

According to a survey conducted by BusinessWeek Research Services, 72 percent of 500 senior-level business executives surveyed said their current position is not their "dream job," and many named creative professions when asked their fantasy careers. Those surveyed included CEOs, presidents, controllers, department managers and consultants, and although many of them have reached top positions in their fields, they still dream of a fantasy career.
Education & Careers

IRS Wins Competition for IT Work, but at a Price

The Internal Revenue Service (IRS) has again won a public-private competition to keep work in-house, but at a price of 218 jobs.For the second time in a week, the IRS beat back private-sector challenges and showed that federal employees can more efficiently do jobs that are considered commercial in nature.
A&A

CPA Candidates, Educators can get Access to Free Professional Literature

The Uniform CPA Examination consists of multiple-choice questions and condensed case studies called simulations. Within the simulations, candidates must do an online search of professional literature databases to answer questions. Here are some ways that candidates, students, educators, and schools can get access to helpful online resources. CPA exam candidates can get a free six-month subscription to professional literature used in the computerized CPA Examination. This online package includes AICPA Professional Standards, FASB Current Text, and FASB Original Pronouncements.
Community News

Companies Struggle with New Chief Compliance Officer Position

The overwhelming range of new duties brought on by corporate reform legislation has prompted many companies to create the position of chief compliance officer.The problem is, companies are not always clear on who the chief compliance officer should report to or even what that person should do, the Wall Street Journal reported.The Sarbanes-Oxley Act does not require the new position, but 36 percent of companies now have a chief compliance officer, according to a recent study from market research firm Meta Group.
Education & Careers

Corporate Scandals Attract Students to Accounting

Have accountants finally shed their dry bean-counter image? Can accounting be viewed as a ‘sexy’ career choice?Maybe so, if the number of new accounting majors among college freshmen is any indication. Academics say the seemingly never-ending series of corporate scandals over the last few years has piqued the interest of today’s students.Consider these numbers provided by the AICPA and reported by the Wall Street Journal: The number of accounting degrees awarded nationwide in 2003 jumped 11 percent from the year before.
Education & Careers

High School Students Find Accounting Has Strong Appeal

A high school internship program has exploded some myths about accounting while encouraging more Albany-area minorities to consider a career in the field.Jihad Ramdene, 18, will start at the state University at Albany as a business major in the fall, much to his own surprise.
Community News

The Six Traps of Accounting & Finance Careers

By Bruce Pounder Many accounting and finance professionals find themselves frustrated in their career progress. Few of them expect something for nothing - most recognize that hard work and talent are necessary to secure desirable career opportunities and superior compensation. Yet so many smart, hard-working financial professionals find that their intelligence and diligence goes unrewarded while colleagues who exhibit the same talent and effort enjoy much more rewarding careers.
Community News

Three Things Every Recruiter Looks for in a Resume

By Deborah Walker, CCMCIf you are in the middle of a job search, recruiters can be either your friend or your foe. They make the choice to keep you out of the hiring process or to introduce you to corporate hiring decision makers. The quality of your resume is a key factor in determining how recruiters will treat you in the job market.
Community News

E&Y Employees Get Perks Even After They Depart

Ernst & Young LLP has learned that staying connected to employees who leave the firm is good for business.About five years ago, the Toronto-based accounting firm decided to ask former employees what the company could do for them, even though they no longer drew a paycheck from E&Y. Colleen Albiston, E&Y's director of national marketing, traveled around Canada and found a strong desire for continuing education. Former staffers were given the same access as current employees to E&Y-sponsored webcasts that discuss developments in the field.
Education & Careers

Tips For Small Business Owners and Summer Vacations, Don’t Worry, Plan!

With summer officially here and the Fourth of July holiday approaching, many small business owners are getting ready for vacation. Recent survey data from the OPEN Small Business Network 2004 Semi-Annual Monitor from American Express provides insight into small business owners' summer vacation plans.
Practice Management

With Help of Accounting Industry, Career Paths are More Clearly Defined

Men in the accounting field aren't alone anymore on the path to becoming partners in their firms. CPA firms are making great strides toward assuring women the same opportunities as men by providing mentoring and a clearly defined path to success.The latest data available from American Colleges and Universities shows that in the 2001-2002 academic year, 57 percent of those receiving bachelor's degrees in accounting were women, compared to 43 percent male accounting graduates. Over one-third of all these graduates will take their first job in public accounting.
Education & Careers

Graduates May See Student Loans Tied to Variable Rates

A proposed change in how much interest should be paid on federal student loans has divided education groups as well as congressional Democrats and Republicans.The proposal, which is part of the reauthorization of the Higher Education Act, would tie federal student loans to interest rates as they change each year.
Practice Management

Workplace Harassment is Not Just about Sex Anymore

Last year the U.S. Equal Employment Opportunity Commission (EEOC) resolved 87,755 charges of employment discrimination for $236 million in monetary and other benefits. Sexual harassment and gender-related claims made up only 30 percent of the cases. So what are employers doing wrong now? The largest number of EEOC complaints (35.1 percent) came from allegations of race discrimination.
Practice

One-in-Five Women Are Paid Less and Have Fewer Career Opportunities

Pay disparity continues to be a concern for one-in-five women who say they are paid less than men with similar talents and experience. The same amount of women reported they have fewer opportunities for career advancement than men at their current organizations, according to a new CareerBuilder.com survey. The CareerBuilder.com "Men and Women at Work 2004" survey of men and women was conducted from April 6 to April 19, 2004. When asked why they think men are paid more, four-in-ten women attribute it to favoritism shown by men in management to other men in the organization.

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