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Marketworks Helps Prevent Overselling

One of the most frustrating holiday experiences is finding the perfect gift for someone only to be told it can’t be delivered until after Christmas. It can be particularly annoying when shopping online, where customers may find themselves going through the entire sales process only to discover their purchase is out of stock. Marketworks is a software solution that not only helps online retailers prevent overselling, but also assists with many back-office functions and marketing activities.Marketworks prevents overselling by tracking inventory.

Stock Option Expensing Coming in 2006

American companies with fiscal years ending December 31, 2005 will start expensing their stock options in 2006. This newly required reporting is expected to drop company net income figures noticeably. The Financial Accounting Standards Board (FASB) has been working to require American public companies to account for the impact of stock options in their financial statements since 1993, according to Business Journalism.

Tip Time: Giving to Those Who Do For Us

Cash is the best way to say “Happy Holidays” to those whose job it is to make others lives easier, experts and recipients told CNN.“You tip the people who perform services for you year-round, who are there for you when you need them and whom you have a valuable relationship with,” Peter Post, director of the Emily Post Institute and author of Essential Manners for Couples told CNN.In addition to the cash, Hilka Klinckerg, founder of Etiquette International, suggests including a short note of thanks and giving the tip in person whenever possible, CNN reports.

Remembering the Customer During the Holidays

In the hustle and bustle of the holiday season, it can be easy to lose sight of what matters the most in business: the Customer. Without customers, or clients, or patients, or subscribers or whatever label you want to give the people who purchase your services or products, you wouldn’t have a business.

So-So-So: Flat Start to Holiday Shopping Season

The holiday shopping season officially began at midnight Friday morning. Early signs were encouraging as crowds gathered to take advantage of huge sales and deeply discounted prices designed to lure in shoppers. The plan may have not have worked as intended, however. Shoppers came, but spending on Friday was virtually unchanged from the previous year, according to ShopperTrack RCT Corp. which tracks total sales at more than 45,000 retail outlets.The ShopperTrack data indicates total sales dropped 0.9 percent to $8 billion from a year ago.

Florida CPAs Working with FEMA

"It’s human instinct. We see people in need, especially those affected by natural disaster, and we want to help,” says Tom Limroth, partner, Donovan and Limroth CPAs, PA in Seminole, Florida and a Florida Institutes of Certified Public Accountants (FICPA) disaster recovery volunteer. “There are times when you want to do more than write a check.
Community News

Talking Turkey About Employer Gifts

For many businesses, holiday gifts are a tradition. As with most gifts, some prefer tangible items, like turkeys or hams, other prefer things that can be used in the office, such as mouse pads, books or pens, while still others prefer cash because it is more versatile.

Simplify Tax Payments with Treasury’s EFTPS

Do your clients make tax payments? If so, the U.S. Department of the Treasury wants to talk to you about the benefits of paying taxes electronically.Simplify is a national campaign launched to communicate to tax professionals and small businesses the benefits of paying taxes electronically using the Electronic Federal Tax Payment (EFTPS).

The Transformation of Microphilanthropy and Microfinancing

Microphilathropy and microfinancing are ideas with similar social missions: allowing people to uplift themselves. The Dalai Lama has said that wealth should be viewed as an ability to give. More directed social and personal impacts are the goal. Both initiatives will require the development of more efficient ways of distribution and communication to reach more people. Microfinancing involves making business loans to people that are too poor to qualify for normal-sized loans. Traditional banks have ignored microfinancing loan amounts of $500 or less.

A Big Day for Small Businesses Thanks to NetSuite

NetSuite Inc., a leader in e-commerce solutions for small and mid-sized businesses, made three announcements on Thursday that will help online retailers make the most of the upcoming holiday season. The announcements included integrating PayPal, adding new UPS shipping capabilities and solving e-commerce mysteries for small and mid-sized businesses.PayPal Integration The NetSuite Paypal integration provides seamless end-to-end online transactions with real-time visibility and no monthly fees.

Consumers Demanding Convenience of Online Bill Payments

The main criteria for choosing a bank used to be its proximity to home. Now customers are looking carefully at the quality of a bank's online bill-paying service before they choose.“Paying bills online is in the mainstream, and for the first time online banking and bill pay has moved into the top three factors considered by consumers when choosing a bank," said Matt Lewis, executive vice president and general manager of CheckFree's Electronic Commerce Division.
Practice Management

InSite Business Intelligence Software Now Enhances Visibility

PerformanceRetail introduced the latest version of InSite Retail Intelligence Suite at the National Association of Convenience Stores (NACS) Show in Las Vegas this week.

Business Impact of Tax Code Rewrite Unclear

With a presidential committee studying a massive revision to the federal tax code, business leaders are unsure of how it would affect their companies.BusinessWeek asked accountants at Ernst & Young LLP to analyze the impact on hypothetical companies of the two main proposals suggested by the President's Advisory Panel on Federal Tax Reform.“At first glance, business' interests would seem clear,” BusinessWeek reported. “Support the panel's consumed-income tax, which would cut the overall tax from 25.9 percent of corporate income to 7.2 percent.

Majority of Small Businesses Want Separate SOX Standards

More than two-thirds of small businesses favor differing standards of Sarbanes-Oxley Act (SOX) regulation for small and large firms according to a recent study commissioned by SAP America, Inc. The study also revealed that SOX regulation has made it more difficult for nearly half of all small businesses to successfully conduct business. Ten percent of companies surveyed intend to ignore SOX regulation in anticipation of an eventual appeal for small and mid-sized enterprises.

Trusted Employees Are Major Source of Information Leaks

As many as 80 percent of corporate employee will disclose sensitive company or customer information to people they do not know over the phone and up to 33 percent will do the same via email according to data collected during a series of information security assessments conducted by RavenEye, an information security consulting business.“Business leaders are largely ignoring this catalyst for information leaks in their companies,” Joseph Kirkpatrick, president of RavenEye said in a prepared statement.

FASB Adds Pension and Postretirement Benefit Project

The Financial Accounting Standards Board (FASB) is initiating a new project to reconsider guidance given in two statements concerning pensions and post retirement benefits. The goal is to improve the reporting of these plans and increasing the use and transparency of this information on financial statements. Reuters reports that the FASB’s review should be completed by the end of 2006.

AICPA Receives IRS Citation of Excellence

Kevin Brown, Commissioner of the Small Business/Self Employed Operating Division of the Internal Revenue Service (IRS) presented a citation for excellence to the American Institute of Certified Public Accountants (AICPA) at the annual National CPA/IRS Tax Issues Meeting in Washington, D.C. earlier this month. The citation was presented for “outstanding team effort in delivering products, services and education to the Small Business/Self Employed Operating customer,” for the AICPA’s work assisting small business taxpayers in conjunction with the IRS.

Celebrating 75 Years of VA

The Department of Veterans Affairs (VA) celebrates 75 years of serving American service men and women and their families this Veterans’ Day. The Washington Post reports that the VA is among the largest federal agencies having more than 235,000 employees and operating the largest hospital system in the country.“During times of challenge throughout our history, men and women have stepped forward to defend our freedom. They’re doing that today,” the Honorable R. James Nicholson, Secretary of Veterans Affairs said in a prepared statement.

The Benefits of a Professional Association Membership

A career in public accounting can be enhanced by joining a professional accounting organization. The benefits increase as accounting organizations such as the American Institute of CPAs (AICPA), the National Society of Accountants (NSA), and individual state CPA societies continue to develop programs and partnerships for their members. Your professional growth and accreditation depend on CPE classes being available. CPE classes are sponsored and provided by professional accounting organizations to make the process of completing the necessary credit hours easier.
Community News

New President Takes Reins of Small-Business Lobby

Longtime technology executive Todd A. Stottlemyer has been chosen to lead the country's biggest advocacy group for small business.The National Federation of Independent Business (NFIB) has selected Stottlemyer, the CEO of Apogen Technologies, as its new president and CEO.


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