A&A news April 2006

A&A

Electronic Payments Getting More Attention in May

This month, banks, credit unions, non-profit associations, businesses, and governments across the nation are asking consumers to increase their use of Direct Deposit and Direct payment in place of paper checks.
A&A

Young Farmers Optimistic about the Future of the Family Farm

More than 95 percent of young farmers and ranchers surveyed at the Farm Bureau’s Young Farmers and Ranchers annual meeting held in Des Moines, Iowa, last month said that they see a future for their children in farming and ranching, the Prairie Star reports. Last year 89 percent saw a future for their farms.
A&A

Building a Nest Egg for Your Small Business

Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months worth of income safely stored away in the bank. If you're a business grossing $250,000 per month, the mere thought of saving over $1.5 million dollars in a savings account will either have you collapsing from fits of laughter or from the paralyzing panic that has just set in. What may be a nice well-advised idea in theory can easily be tossed right out the window when you're just barely making payroll each month.
A&A

Are CFOs Up to Technology Task?

Technology continues to be a growing factor in businesses’ competitiveness and financial reporting capabilities, but questions are being raised about the technological proficiency of some chief financial officers (CFO), and for that matter, about the technological capabilities of most senior executives, who accordingly, are senior in age.Advertisement
A&A

Effective Strategies for Employee Satisfaction Programs

Employee satisfaction is the result of organizational strategies that utilize both tangible and non-tangible benefits, according to a recent Business Excellence Board study.
A&A

Small Businesses Saved $6.6 Billion in 2006 Thanks to Advocacy

The Office of Advocacy of the Small Business Administration (SBA), the “small business watchdog” of the government, saved small businesses more than $6.6 billion during fiscal year 2005, according to a statement released last week.
A&A

Formulas for Success in Family Businesses

Families who have been successful in operating a business together find that working and living together is not as big a challenge as it might seem if family members communicate, make time to have fun and above all, work hard, according to a report in the Shreveport Times. “You’ve got to be there.
A&A

Bookkeepers Saving Employers From Fraud

“Small businesses don’t have the Security Department enjoyed by large corporations, so if the bookkeeper doesn’t spot the fraud, the business takes a hit,” explained Steve Sahlein, co-president of the American Institute of Professional Bookkeepers (AIPB) in a prepared statement. In fact, many small firms are simply swept under by the $50 billion in check fraud and $1 billion in credit card fraud that occur annually.
A&A

Alternative Approaches to Accounting Outsourcing

Clients are turning to their accounting firms to provide “resource services” -- full-time accounting professionals who work on special projects on a contract basis at the CFO or controller level, the Philadelphia Business Journal reports. Resource servicing differs from typical staff or consulting outsourcing because the client manages the project, and the positions are high level.
A&A

Cash Control

Every business needs cash. Not cash in the sense of investment capital or even income. Cash in the sense of cold, hard currency for everyday things like stamps, office supplies and other incidental expenses.
A&A

Bookkeepers Offer Advice for Hiring Summer Help

Knowing the rules when hiring summer help can help companies avoid being visited by the Department of Labor (DOL) or audited by the Internal Revenue Service (IRS), according to the American Institute of Professional Bookkeepers (IAPB).Advertisement
A&A

Bankruptcy Filings Rebounding Despite Intention of New Law

The new bankruptcy legislation enacted on October 17, 2005, apparently only had a temporary effect on the number of bankruptcy filings.
A&A

Concierge Not Just for Guests

One of the great thing about staying in a great hotel is having access to a concierge. A good concierge can make a trip easier, more productive and more enjoyable. A great concierge can make a trip almost magical. Unfortunately, you can’t bring them home with you.
Practice Management

Mark Your Calendar: AICPA Small Business Practitioners’ Tax Forum

Developed by practitioners for practitioners, the American Institute of Certified Public Accountants’ (AICPA’s) Small Business Practitioner’s Tax Forum offers proven strategies and answers helping firms distinguish themselves in the highly competitive small business marketplace.
A&A

Fuel Cost Driving Large & Small Business Efficiencies

Large fleet carriers are not the only purchasers of fuel purchasing management software.
A&A

Conference Speakers Offer Insight Into Lean Accounting

The concept of lean accounting has been grabbing considerable attention lately.
Community News

Outsourcing Goes Global; Small and Mid-Size Companies

IBM Global Services and Accenture, US companies that provide outsourcing services, are adding staff in China, Hungary, the Czech Republic and Brazil, and even some of India’s giant outsourcing companies, like Tata Consultancy Services, are themselves looking to send some functions to other countries, forbes.com says.
A&A

Finance Executives Support Stronger Pension Funds

A survey of 122 Chief Financial Officers (CFOs) by Grant Thornton showed that 84 percent support the Financial Accounting Standard Board (FASB) proposal to report the level of pension funding on the balance sheet. The response came as a surprise to many, but “because corporate pension information is already disclosed in the notes to the financial statements,” said John Hepp, a senior financial professional-standards manager at Grant Thornton, according to CFO.com, finance executives would not object to the new rule.
Practice Management

The Ultimate CPA Practice Propulsion Machine -- Referral Systems

If you're a lawyer, CPA or business consultant, it’s a good bet that a large percentage of your new clients are coming from direct or indirect referrals. Most of you think of this as "word of mouth advertising."I’m also willing to bet that 99.9 percent of you out there have never given any thought to putting formal, aggressive and automatic referral systems in place.When I bring this up with clients I usually hear something like this:"I don’t need any help with referrals. All of my business comes from word of mouth right now.
A&A

FASB Makes 3 EITF Draft Abstracts for Comment

The Financial Accounting Standards Board (FASB) has made three Emerging Issues Task Force (EITF) Draft Abstracts available for comment through May 4, 2006. The Task Force invites individuals and organizations to provide written comments on all matters within the draft abstracts to director@FASB.org.

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