A&A news

A&A

Help is on The Way For Real Estate Time-Share Reporting

Professionals dealing with real estate time sharing transactions will soon get additional reporting guidance by both the AICPA and the Financial Accounting Standards Board.The AICPA has released a Statement of Position (SOP), "Accounting for Real Estate Time-Sharing Transactions." The proposed SOP would provide guidance on a seller's accounting for real estate time-sharing transactions in financial statements prepared in conformity with generally accepted accounting principles (GAAP).
A&A

Discipline Done Right - Free Report

If an HR department could choose one management function to avoid, it would be disciplining employees. As demonstrated through countless court cases over the past few years, the lack of, or improper implementation of, discipline procedures could result in a whirlpool of fines and lawsuits that will negatively affect your company's bottom line and ultimately hurt your employees. This free report will provide you with the information you need to create an air-tight discipline procedure for protecting your company.
A&A

KPMG Concerns Lead to Client Management Changes

The CFO of a leading health services provider lost his job last week after he asked his company’s auditor to provide a representation letter concerning their ongoing review of the company’s financial statements and disclosures. Universal Health Services announced Thursday night that the board of directors had voted to dismiss Kirk Gorman, chief financial officer since 1987, at the request of KPMG, which had recently replaced Arthur Andersen as the company’s auditing firm.
A&A

Credit Unions to Start Offering SBA Loans

Aspiring entrepreneurs who need capital now have more options when it comes to finding a potential lending institution. The Small Business Administration (SBA) announced last week that it has authorized credit unions to offer government guaranteed loans to small businesses.The SBA estimates that 1,500 credit unions will join the lending network, which helps finance existing and start-up small businesses.
Practice Management

Business Leaders Begin Preparing For War

February 14, 2003 is a pivotal day in the timeline of world economic stability. As war becomes seemingly inevitable, and the risk of terror attacks increase, business leaders around the country are addressing what they need to do to be prepared.
A&A

Colleges Train Hopeful Entrepreneurs

The dot-com boom may be over but the entrepreneurial zeal that fueled it is alive and well on college campuses across the country. With the country in a hiring slump, a growing number of students are preparing to be employers rather than employees.About 1,500 colleges offer some form of entrepreneurship training, up from a handful in the mid-1980s, according to the Ewing Marion Kauffman Foundation, an organization that works in partnership with colleges and universities to promote entrepreneurial studies.
A&A

FASB Enrolls Investment Community in Standard Setting Process

To increase the investment community’s participation in the accounting standard setting process, the Financial Accounting Standards Board (FASB) has established a User Advisory Council. The FASB will host its first meeting of the User Advisory Council on Thursday, February 13, at the Grand Hyatt in New York City.The Council will assist the FASB in raising awareness of how investors and investment professionals, equity and credit analysts and rating agencies use financial information.
A&A

SBA Warns Small Businesses of Potential Disruption

More than 100,000 reservists and National Guard members have already been called to active duty in the war against terrorism. Many businesses are already facing disruption and change as a result of the temporary loss of military workers. The potential for this disruption will increase.The Small Business Administration (SBA) has redesigned key areas of its Web site to provide tools and relevant information to small businesses that are affected by the call-up.
A&A

Business Travelers Face New Airport Rules

Executives need to plan ahead if they want to use airport clubs and comply with a recent federal directive. The Transportation Security Administration (TSA) has mandated that airlines restrict use of airport clubs, a measure intended to limit access to secure areas of the airport.For many years, business travelers have relied on airport clubs as convenient places to relax between flights or meet with clients. Quite often, executives have used the clubs for impromptu meetings or conferences. But the new TSA directive ends spur-of-the-moment get-togethers.
Tax

Grant Thornton, Community Bankers, Suggest Tax Fixes

The Independent Community Bankers of America, in cooperation with Grant Thornton, has released a comprehensive study outlining a menu of federal tax relief and simplification measures to improve the country's economy.The 50-page study, "Community Bank Tax Relief and Simplification Options," was developed by the community banking sector to suggest policies that should be enacted to assist small businesses and individuals, and increase the viability of community banks to serve these customers.The Top Ten Tax Fix
A&A

PCAOB Face Pay Cuts, FASB Dips Into Reserves

The federal government agreed to help out the Public Company Accounting Oversight Board (PCAOB) with emergency funding until the new fee-based system is in place. But members of the board may have to take pay cuts for awhile. The Financial Accounting Standards Board also faces funding delays and is coping by dipping into reserves.
A&A

Bankruptcy Reform Back on The Table

Is 2003 the lucky year for bankruptcy reform legislation? When Congress adjourned last November, it was the third time in six years that lawmakers had failed to pass stricter bankruptcy legislation. Weary and tired from the prolonged battle, many key supporters, including Sen. Joseph Biden (D-DE) and industry lobbyists, vowed not to try again in 2003. But with bankruptcies at record levels, the bill seems destined to return. The legislation still has strong backers in Congress and the White House, and Sen.
A&A

Targeting Those Caring For Elder Parents

by Michael P. Sullivan, President, 50-Plus Communications Consulting Does anyone ever really plan ahead to care for an aging parent? Not unless the older adult is in a troublesome or even critical state. Elder caregiving almost becomes a complete surprise. We don’t normally set aside money or time for the task. In fact, we are usually unprepared for it. And, often when it does occur, we tend to deny it’s happening. And yet there are critical issues that accompany the complex, extraordinarily powerful emotions of caring for loved ones who are elderly, disabled or ill.
A&A

FASB Issues FIN 46 to Curb Enron-Style Abuses

It took several decades and a crisis of unprecedented proportions to bring the issues to a head, but today's accountants have only weeks to come to grips with the new rules on accounting for special purpose entities (SPEs) like the ones that contributed to Enron's collapse.
A&A

Summary of 2002 Tax Law Changes For Businesses

There are some changes to the tax laws effective for 2002 income tax returns that work to the benefit of business taxpayers. Tax accountants will want to make sure their clients are aware of these changes that will save their clients tax dollars on their 2002 tax returns and in years to come.The deduction for self-employed health insurance as an adjustment to income increases to 70% for 2002. The remaining 30% qualifies as an itemized deduction. For 2003 the above-the-line adjustment for self-employed health insurance increases to 100%.
A&A

Resources For Military Reservists And The Businesses That Employ Them

In the seventeen months since September 11, 2001, more than 100,000 Reserve and National Guard members have been called to active duty.
A&A

FASB Releases FAS 148 on Stock Options

The Financial Accounting Standards Board (FASB) has released Statement No. 148 on "Accounting for Stock-Based Compensation—Transition and Disclosure." This statement provides alternative methods of transition for companies that choose to switch to the fair value method of accounting for stock options. Statement 148 also makes changes in the disclosure requirements for stock-based compensation, regardless of which method of accounting is chosen.
A&A

The Pros & Cons of Starting Your Own Business/Practice

By abcsmallbiz.comSome of the reasons people start or buy their own businesses are to;- be their own boss or create their own job - seek an alternative to their current career - make better use of their skills and knowledge- introduce a new product or service, or - take advantage of a business opportunity. These are all valid reasons to want your own business, but the success or failure of a person's business venture is as unique as their fingerprint.
A&A

Quick Ways To Boost Profits!

"Too often in business we get trapped into equating sales with profits. Yet there are many other ways you can dramatically impact your profitability!" Underpricing Kills Profits!Many small businesses have thinner profit margins than larger firms do because they tend to underprice their products or services. So why not just raise prices? I know the feeling--you're scared that your competition might swoop in like a bird of prey and your customer base might shrivel overnight!
A&A

How to Write a Press Release For Your Firm

One of the most effective ways of promoting your business is by using public relations. And one of the best tools that small businesses have is the press release. An article that is written from your press release in a newspaper, ezine or magazine, or is covered on radio or television will carry more credibility with the public than an ad that you can buy in the media. As an extra kicker, once it's been published you can pay to have it reprinted as an advertisement.

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