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Community News

Company Announcements: Week of March 19, 2012

Following is the latest roundup of accounting community news for the week of March 19.
Practice Management

Making Taxes Less Taxing

Gina Noy offers her clients stress-free tax preparation. It's not often you find "stress-free" and "tax" in the same sentence, especially during busy season, but for Noy, it's a philosophy that carries through her Manhattan-based CPA firm.
A&A

Calcbench Named the Grand Prize Winner of the XBRL Challenge

Calcbench, an open source application that consumes corporate XBRL data and performs comparative analytics, was named the winner of the XBRL Challenge at the XBRL and Financial Analysis Technology Conference on February 29. The contest is for developers of applications that leverage XBRL-formatted data in the SEC EDGAR database.
AccountingWEB Life

Paychex Expands Retirement Services Offering to Fee-Based Financial Advisors

Paychex, Inc., ranked as one of the nation's largest 401(k) recordkeepers according to PLANSPONSOR magazine's 2011 Recordkeeping survey, has announced the launch of Paychex Advisor Select 401(k) Plan, a new offering that is specifically designed for fee-based financial and investment advisors.
Practice Management

Sleep Soundly with Data Security

Can you sleep soundly at night knowing your firm is safe from data security breaches? Security is a vitally important area that often is overlooked or taken for granted by accounting and law firms because it's not looked at as strategic, but rather one of those things that should and must be done "just in case."
Tax

Facebook Founder Mark Zuckerberg Might Face $2 Billion Tax Bill

Facebook founder Mark Zuckerberg may face a tax bill of $2 billion by taking his company public. Why so high? Tax experts say it's because of his plan to exercise stock options. According to CNNMoney, he owns 414 million shares of Facebook but also holds options to buy another 120 million shares at 6 cents apiece.
Community News

Company Announcements: Week of February 13, 2012

Bernhard von Thaden has rejoined KPMG LLP, a US audit, tax, and advisory firm, as a principal in the Economic and Valuation Services (EVS) practice. Ken Harvey returns as a partner in the International Corporate Services practice. Both will be based in the firm's Los Angeles office.  
Practice

Pippins v. KPMG LLP - What It Could Mean for Your Company

Employers who have faced potential class action wage-and-hour lawsuits know what a headache they can be. Due to a recent case, employers have a lot more to worry about. That case, Pippins v. KPMG LLP, has caused tremendous turmoil and confusion among those who follow employment litigation and electronic discovery.
Tax

Rapper Lil' Kim Owes IRS Big Bucks

Lil' Kim, a famous rap artist who has been working to turn her life around, allegedly owes more than $1 million in state and federal taxes for the years 2002 to 2009. Celebrity news website TMZ reported that her 2009 debt of $86,347 was recently added to the total she already owed, bringing it to $1,026,862.
Practice

Intuit Small Business Employment Index Results

Small businesses created 50,000 new jobs in January but paid employees less and gave them fewer hours. The East Coast, especially New York, showed more weakness in employment than in other parts of the country. These are some of the results of Intuit's latest Small Business Employment Index.
Community News

Company Announcements: Week of February 6, 2012

Following is the latest roundup of accounting community news for the week of February 6, 2012.
Education & Careers

Ernst & Young Hosts Events to Enhance Diversity and Inclusiveness

Nearly 150 ethnically diverse students from 73 US campuses traveled to NYC to attend E&Y's sixth annual Discover Ernst & Young event. Accounting and business majors interacted with firm leaders and E&Y personnel, who were eager to present the challenges and exciting potential of an accounting career at E&Y.
Tax

Lessons from Lehman: It's All about Confidence

The entire financial crisis of 2008 was about credit and confidence, and the same holds true today. That was the message delivered by the former general counsel of Lehman Brothers, Kevin Genirs, during his keynote address February 1, 2012, at the LegalTech® conference in New York City.
Community News

"SmartCEO" Magazine Future 50 Award Given to Citrin Cooperman

Philadelphia accounting, tax, and business consulting firm, Citrin Cooperman, has been recognized by Philadelphia SmartCEO magazine as a 2012 Future 50 Award recipient. Led by the Philadelphia office managing partner Mark S. Carrow, Citrin Cooperman was honored at the magazine's awards ceremony in January.
AccountingWEB Life

Get More Done by Doing Less

There's no denying that technology enhances workflow and improves efficiencies. But for some professionals, too much of a good thing is becoming a burdensome distraction. Most of us are just trying to do too much and not getting enough done.
Education & Careers

2011 Accounting Graduates Earning Average Salaries of $50,000

Accounting grads in 2011, earned starting salaries that exceeded those in nearly every other field except engineering and computer science. Overall, the average salary was $41,701, but accounting majors earned an average of $50,500, which is up 3.7 percent from 2010, according to the 2012 NACE survey.
A&A

The Economy – Americans Feeling Better, CEOs Feeling Gloomy

Is the economy getting better or worse? It depends on who you ask. Two recent polls show that Americans are beginning to feel a bit better about the economy, but CEOs are feeling gloomy. For the first time in almost a year, more Americans say the economy is getting better than those who say it’s getting worse.
Tax

Teaching How to Cheat

Concerns about cheating in school are nothing new, but they usually don't include teachers. The widespread scandals of teachers cheating on standardized tests provide the wrong ethical guidance to those who will later staff and lead business organizations.
Community News

The Edge of Glory – CPA Auditions for 'The Glee Project'

Last October, Nick DeSanto, aspiring singer, CPA, and senior auditor with Ernst & Young, tested his singing skills in Oxygen's "The Glee Project" competition. Participants selected after the auditions won a spot on the competition series, with the ultimate prize being a guest appearance on "Glee."
A&A

AAA Warns: Watch Your Language on Earnings Reports

Last month, when a pension fund owning stock in Bank of New York Mellon brought suit against that financial behemoth, the fund not only took aim at the bank's allegedly fraudulent currency trading, but it cited a variety of upbeat claims in its SEC filings that the plaintiff considered highly doubtful.

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