A&A news

Technology

The Present (and Future) of Business Communications

Many firms recognize that failing to properly retain business related e-mail can lead to lawsuits, fines, bad publicity and even criminal charges. Only a few, however, understand the same things can happen with instant messaging (IM) and peer-to-peer (P2P) communications. Is your firm one of them?The “2004 Workplace E-mail and Instant Messaging Survey” found that only 11 percent of responding companies use gateway/management software to monitor and control IM use and risks.
Community News

Court Clarifies How-to Rules on Family Limited Partnerships

In a closely watched estate case, an appeals court has outlined the mistakes made by the family of a deceased Texas millionaire, providing estate planners with sharp guidelines on how to use family limited partnerships.Family limited partnerships are often used to reduce taxes on inheritances and gifts. In this case, the family of Albert Strangi made errors that caused the U.S.
A&A

Accounting for the Civil Air Patrol

The Civil Air Patrol (CAP), the official auxiliary of the U.S. Air Force has turned to InsynQ’s e-Accounting to help it comply with federal regulations regarding tracking and financial reporting for non-profit organizations.
Practice

Self-Employment Declines Sharply for Second Consecutive Month

Labor Department data reported in USA TODAY, shows the number of self-employed fell 3.1 percent, or 303,000, in June. It was the second consecutive month of big declines.One possible reason is that companies are hiring again. “More people are finally being reabsorbed into full-time jobs,” Maria Minniti, associate economics professor at Babson College told USA TODAY.But entrepreneurs are struggling with rising costs as well, especially the cost of health care.
Practice Management

Pricing: Another Side to the Profit Equation

There’s been a lot of talk about cost-cutting over the past few years as companies of all sizes strive to increase profits. When it comes to increasing profits, however, reducing costs is only part of the story.“Companies will do everything in their power to cut costs, from outsourcing IT departments to limiting employee travel. But there’s another side to the profitability equation that often goes unexplored – pricing,” says Greg Peters, CEO of Zilliant.
A&A

Analysts Ignoring Cost of Stock Options

Some Wall Street analysts are failing to figure the cost of stock options in their reports to investors, at least so far.Public companies last month were required for the first time to account for stock options as expenses, lowering their bottom line. For some companies, those new figures will be reflected in regulatory reports due soon, but stock analysts are not following suit, the Wall Street Journal reported.Analysts are leaving out the information in earnings-per-share figures included in reports to investors. For example, Microsoft Corp.
Tax

Accounting for Uncertain Tax Positions

The Financial Accounting Standards Board (FASB) issued an Exposure Draft on Accounting to Uncertain Tax Positions on Thursday, July 14, 2005. The Exposure Draft would apply to all tax positions accounted for in accordance with FASB Statement No.
Practice Management

Franchising As A Growth Option for Your CPA Firm

Gaining new clients and increasing business is very challenging and difficult for many small CPA firms. There are a number of ways in which CPAs market. Many of these methods are not very effective for providing for any significant, real long-term growth. Traditionally, “referral marketing” has been the number one way for small CPA firms to gain new business. However, referrals can only take you so far, and will only yield a limited amount of growth in your practice.One non-traditional growth method that CPAs may consider is franchising. What is a franchise?
A&A

Taxware Partnerships Changing the Tax Calculation & Compliance World

The world of tax calculation, accounting and compliance in the U.S. and 170 countries changed on Tuesday, July 12, 2005, when Taxware announced partnership agreements with Avalara and Group 1 Software. The agreements will tap into emerging technologies to help businesses gain access and eliminate guesswork in global tax compliance and jurisdictions.Taxware, a First Data Corporation (FDC) company, is a leading provider of global transaction tax calculation and compliance solutions that has historically focused on the needs of Fortune 1000 companies.
A&A

Mark Your Calendar: Auditing in a Small Business Environment

The Public Company Accounting Oversight Board (PCAOB) is bringing the Forum on Auditing in the Small Business Environment to Orlando, Florida on August 4 and 5, 2005. The two-day program, hosted by Board Member Kayla J.
A&A

IASB and FASB Publish First Major Exposure Draft Standard

The International Accounting Standards Board (IASB), based in London, and the US Financial Accounting Standards Board (FASB) have announced publication of an Exposure Draft containing joint proposals to improve and align accounting for business combinations.
A&A

SAP Safe Passage Program Extended to Small/Midsize Enterprises

Small and midsize enterprises (SMEs) considering migrating to SAP but with technology investments in PeopleSoft or JD Edwards solutions can now take advantage of the SAP(R) Safe Passage program. The program allows these enterprises to join its network of channel partners with access to nearly 600 mySAP(TM) All-in-One solutions that are based on industry best practices. These solutions are designed to provide a bridge between the usual end of the lifespan of their current solutions and any anticipated improvements being delayed by their acquisition of Oracle.
A&A

Not All Faxes Are Junk

In passing the Junk Fax Prevention Act of 2005 on Wednesday, June 29, Congress acted to stop junk faxes without preventing small businesses from communicating with customers they have established relationships with.
A&A

IRS Resource Helps Small Business with Retirement Plans

A new CD-ROM from the Internal Revenue Service (IRS) outlines everything small business owners need to know to establish and maintain Individual Retirements Arrangement-based retirement plans for their employees.“IRA Resource Guide for Small Business Owners and Individuals” provides entrepreneurs with information about traditional and Roth IRAs as well as IRA-based retirement plans for employers including simplified employee pensions (SEPs), simple IRAs and payroll-deduction IRA plans.
A&A

eBay Accounting Assistant Available For Use With QuickBooks

The release of the eBay Accounting Assistant helps eBay sellers make better, more informed decisions. Developed using the QuickBooks® Software Development Kit, Accounting Assistant automatically downloads a seller’s eBay and PayPal transaction information into QuickBooks, allowing them to track their business financials and make better business decisions with greater ease. PayPal is an eBay company.According to Intuit, 80% of all small businesses use QuickBooks.
A&A

AICPA Endorses Bill Extending Benefits to Small Business Employees

The American Institute of Certified Public Accountants (AICPA) has written Senator Olympia Snowe (R-ME) commending her introduction of S. 723, the SIMPLE Cafeteria Plan Act of 2005.
A&A

The Definition of Small

Next week the Small Business Administration (SBA) wraps up a month of public hearings on small business size standards. The public hearings, including today’s in Dallas, are part of an effort to gather input from small business owners across the nation to help the SBA update their size standard regulations. The SBA’s size standards and related regulations have come under fire recently when a report surfaced indicating that contracts earmarked for small businesses had in fact gone to large businesses.
A&A

Health Care Spending Races Ahead of Income Increases

Spending on health care rose by 8.2 percent last year, outpacing spending increases in other areas and outstripping average growth in income, a new study says.The spending increase was slower than in past years - it peaked at 11.3 percent in 2001, for example - but it outpaced gross domestic product, which increased by 5.6 percent, Forbes.com reported. In the most recent 12-month period, prices for health care rose by 4.3 percent, compared with 2.8 percent for prices overall, according to the U.S.
A&A

East Meets West: Japanese Businessman Takes US Accounting Home

In a true “east meets west” scenario, Japanese businessman Motoyoshi Hirose came to the United States several years ago to investigate the possibilities of obtaining the Japan franchise for a U.S.-style franchise accounting firm. His Internet research soon led him to Fiducial.Since that time, Hirose has met on several occasions with Fiducial representatives including Yves Morard-Lacroix, executive vice president; Howard Margolis, director of field support and development, and Bill Morice, director of field operations.Hirose, who serves as president of ACCS Consulting Co., Ltd.
A&A

Convergys Acquires Deloitte’s F&A BPO Businesses

Deloitte Consulting Outsourcing LLC, a subsidiary of Deloitte Consulting appears to be taking the advice of its own research by exiting the finance and accounting (F&A) business process outsourcing (BPO) segments of the market. A definitive agreement was announced between Deloitte Outsourcing and Convergys Corporation on Friday, June 17.InformationWeek reports that Deloitte said in a report issued in April, 2005, that many organizations were bringing information technology (IT) and business operations back in-house as they became increasingly disillusioned with outsourcing.

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