Education & Careers news

Education & Careers

Success Linked to Risk Taking

What’s the difference between successful athletes, public figures, business leaders and regular folk like you and me? According to one man whose passion is learning the secrets of success, it’s the ability to “go out on the skinny branches” and take risks. In a newly released book, Masters of Success, Ivan Misner, PH.D. identifies seven traits and trends common to some of the most successful people in the fields of sports, business and entertainment.
Education & Careers

Accounting Grads Face Best Job Prospects in Years

College graduates with accounting degrees are entering the working world at a good time - recruiters are eager, jobs are plentiful and offers are attractive. Four in five employers called the job market for new grads good, very good or excellent, according to a new survey by the National Association of Colleges and Employers. Last year, fewer than two in five described the job market that way, the Associated Press reported.Observers say graduates are facing the best prospects since the dot.com boom. The survey predicted college hiring will increase 13 percent over last year.
Education & Careers

What’s YOUR Weakest Link? Building a Strong Job Search Chain

By, Deborah Walker - A chain is only as effective as its weakest link—and you don't know which link is weak until the chain is tested. If your job search is falling short, one of your job-search skills may be the weak link. By analyzing your chain of job search skills, you can build a stronger chain, one that can stand up to any test.There are three critical links in your job search chain. Consider each of them carefully to determine your weakest link, then work to strengthen that link.
Community News

Marsh Plans Steep Job Cuts Amid Plummeting Returns

Marsh & McLennan Cos. announced plans to lay off 3,000 workers as its profits nosedive and it prepares for a potentially costly settlement related to bid-rigging charges. The company said it has set aside a $232 million settlement reserve, which hurt third-quarter profits, the Wall Street Journal reported.
Community News

Disney Trial Shows Hollywood at its Worst

A Disney shareholder lawsuit is revealing a decidedly unglamorous picture of Hollywood, where threats and manipulation are considered business as usual.Michael Ovitz, the former president of the Walt Disney Co., has testified not only about the deep divisions in the company but also about the gritty reality of the entertainment business."From the time I started in the entertainment business, every network and every studio has threatened to sue every other company on a daily basis," Ovitz said during the trial, according to the New York Times.
Education & Careers

Certification Puts Bookkeepers in Key Financial Role

The bookkeeper, once viewed as a crotchety toiler in a green eyeshade who kept the books for a small business, today has emerged as an essential professional relied upon as a key source of advice for best accounting practices and protection against embezzlement and fraud.Small businesses often have only a bookkeeper as their sole financial officer.
Tax

Defendants Convicted in First Enron Trial

The government has secured all-important convictions against the first group of Enron defendants, signaling that juries have had enough of corporate malfeasance, the New York Times reported.Convicted Wednesday in a Houston federal court were four former Merrill Lynch executives and a former Enron official, who were found guilty of conspiring to help Enron report false profits.
Community News

BDO Appoints New Chief Executive, Chairman

Jack Weisbaum, 64, has been tapped to be the chief executive at BDO Seidman LLP, a company that has been the subject of a tax shelter investigation, the Wall Street Journal reported. A former vice chairman, Weisbaum had retired from BDO four months before his interim appointment last year but had continued to work as a consultant to BDO. Wayne Kollins, 60, was appointed chairman. The appointments come a year after a shake-up at the nation's seventh-largest accounting firm.
Community News

Ovitz, Eisner Relationship Spotlighted in Disney Suit

A shareholder suit brought about by outrage over the severance package paid to former President Michael Ovitz is unveiling some deep dissention in the House of Mouse, the Wall Street Journal reported.The Walt Disney Co.'s current and former executives are the hot seat in a Delaware courtroom, defending themselves against a seven-year-old shareholder derivative lawsuit, the Wall Street Journal reported.The suit accuses Disney's board of failing in its fiscal responsibilities by not properly scrutinizing Ovitz's employment contract when he joined the company in 1995 and then granting him a
Education & Careers

IL CPA Society Announces Scholarship Programs for Future CPAs

The Illinois CPA Society announces its annual Accounting Scholarship program that offers scholarships to accounting students who are planning to complete their final year of education needed to sit for the CPA Examination in Illinois. The scholarship program, which is funded by the CPA Endowment Fund of Illinois, will award up to 6 scholarships of up to $4000 each to those outstanding students who show significant potential to become a CPA and who demonstrate academic achievement as well as financial need. In addition, the Herman J.
Technology

Study: Strong Growth Expected in Malaysian Outsourcing Market

Malaysia's IT outsourcing market is expected to expand at an annual growth rate of more than 27 percent over the next five years, according to a new study.
Education & Careers

Accounting Firm Helps Women Go Through New Business 'Boot Camp'

Women who dream of turning their hobbies into lucrative businesses have to stop dreaming and start planning.
Education & Careers

GAO Report: Subsidy Payments To Student Loan Lenders Rising

To encourage lenders to make student loans under the Federal Family Education Loan Program (FFELP), the federal government guarantees lenders a statutorily specified rate of return—called lender yield. Some lenders mayissue tax-exempt bonds to raise capital to make or purchase loans; loans financed with such bonds issued prior to 10/1/93 are guaranteed a minimum lender yield of 9.5% (hereafter called 9.5% loans). When the interest rate paid by borrowers is less than the lender yield, the government pays lenders the difference—a subsidy called special allowance payments.
Tax

Treasury and IRS Grant Relief In Student Loan Rules

The Treasury Department and the Internal Revenue Service today issued a notice relating to information reporting for the deduction of interest paid on qualified education loans. "The notice issued today provides administrative relief to lenders and borrowers," said Acting Assistant Secretary for Tax Policy Greg Jenner. "Penalties will be waived for lenders who need additional time to update their reporting systems.
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.

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