A&A news

A&A

Investors Get Scammed in SEC-Backed Sting

Gotcha! The SEC has created a unique and harmless "sting" operation to remind investors that research on a company is paramount to investment success.
A&A

Goodwill Write-offs: Paper Losses or Squandered Money?

First quarter earnings announcements of many companies bring news of huge one-time write-offs under the Financial Accounting Standards Board’s Statement No. 142, Goodwill and Other Intangible Assets. This is leading to controversy and changing performance measures.Huge write-offs and controversyFor media giant AOL-Time Warner Inc., the projected write-down for first quarter 2002 amounts to a breath-taking $40 to $60 billion.
A&A

FASB Forges Ahead on Three New Frontiers

At its January 9, 2002 meeting, following a rash of well-publicized complaints about the slowness of the accounting standard-setting process, the Financial Accounting Standards Board (FASB) decided to forge ahead on three new frontiers. It tentatively agreed to: 1. Issue for public comment a prospectus for a major project to update the concepts and principles of revenue recognition. 2.
A&A

New Considerations For Financial Statement Prep This Year

The recessionary economy. Recent business failures. The events of September 11. All of these economic influences converged in 2001 to create one of the most turbulent financial reporting environments in recent memory, requiring the extra care and attention of financial statement preparers to ensure that the public has a clear picture on the health and welfare of American businesses.The Big Five accounting firms, in cooperation with the American Institute of CPAs, has issued a detailed list of risk factors to consider when preparing and communicating financial results for 2001.
A&A

Description of FASB Projects Discussed January 9, 2002

The following project descriptions were excerpted from materials made public at the FASB meeting on January 9, 2002. 1. Revenue recognition. The proposed project would have two principal goals: (1) enhancing the authoritative and conceptual guidance for recognizing revenues, and (2) refining the conceptual guidance for defining and recognizing liabilities. The FASB project would lead to the issuance of a new accounting standard on revenue recognition that would apply to business entities generally.
A&A

BusinessLaw.gov Offers Small Business a Hand

BusinessLaw.gov, an online resource designed to provide legal and regulatory information to America's small businesses has a wealth of information. Topics on the Web site range from the most basic and crucial, such as choosing a business structure or hiring a lawyer, to highly specialized issues such as e-commerce and exporting. The site also acts as a gateway to federal, state and local information that affects small businesses. From the site, business owners may quickly check zoning codes for their local area, or file a complaint with the Office of the National Ombudsman.
A&A

AccTrak21 Offers Free Accounting Software

"WHY SHOULD I READ THIS?"This is a special high-value Holiday Season accounting software promotion offer restricted to CPAs ONLY. Offer is limited to the first 50,000 respondents on a "first-come, first-served" basis. Offer closes January 15th, 2002. "WHAT'S THE OFFER?" FREE Internet download of licensed copy of award-winning, multi-user, AccTrak21 Perform@ Accounting & Business Intelligence software, retail value $6,160. (One-time License Registration Fee of $25 applies - no other fees or charges).
A&A

Web Site Provides Nationwide Real Estate Tax Rates

Mortgage loan administrators have a new service they can rely on to provide access to real estate tax information from across the country.First American Real Estate Tax Service has launched its Property Locator Service Database which provides Internet access to real estate tax data from more than 22,000 taxing authorities.The service is being touted as the first nationwide real estate tax database in the real estate industry.
A&A

IRS Announces Change that Favors Small Businesses

Nearly two years ago, the IRS released guidelines requiring many businesses with revenue over $1 million to use the accrual method of accounting instead of the cash method.
A&A

SBA Funds Grant Program for Very Small Businesses

America’s smallest businesses will now have access to more training and technical assistance to help them start or grow a business under a new program funded by the U.S.
A&A

QuickBooks Releases Accountant Version of Program

Intuit has announced the release of a new accountants' version of the QuickBooks program, QuickBooks Premier 2002: Accountant Edition.The newest addition to the QuickBooks library features real-time remote access to the popular accounting software for small businesses, as well as many other attributes.
Technology

PPC Offers Online Financial Planning Solution

PRESS RELEASEPPC, one of the nation’s leading solutions providers for tax and accounting professionals, says its customers and their clients can now "connect, communicate and collaborate" over the Internet for "total life cycle" personal financial planning. PPC’s new Personal Financial Center (PFC) offers the unique combination of PPC’s exclusive and respected engagement guidance and software tools for CPAs, together with powerful new online financial planning software applications for professional advisers, as well as consumer-oriented software and content for the client.
A&A

SBA Offers New Loan Program

The U.S.
A&A

When Reservists are Called to Duty – What Your Company Should Know

In light of the September 11 terrorist attacks, businesses around the country may find themselves having to adjust frequently as reservists are called upon to serve their county. Two issues that companies may face when their employees are called upon, is how to replace them or handle their immediate responsibilities. A second issue is what to do about salary and benefits – should you as a company continue paying reservists or guard members or provide their families with health insurance?
Technology

Online Resource for Business Start-Ups

The Wall Street Journal's StartupJournal is the place to go for entrepreneurs who are starting a new business or buying a franchise.
A&A

Entrepreneur Magazine's Best Cities for Entrepreneurs

Entrepreneur Magazine has teamed with business information specialists Dun & Bradstreet to provide a ranking of the nation's best cities for entrepreneurs.The two cities tied for the top berth are Dallas, noted for a well-trained labor force, strong city leadership, and an extensive transportation network, and Orlando, seen as a high-tech hub with a reasonable cost of living and an attractive climate.Other cities filling out the top five include West Palm Beach/Boca Raton, Florida, Washington, D.C., and Austin
A&A

Firms Need To Get More Image Conscious, Survey Reveals

Small firms realize that image is highly important for building their business, but do little about it, a new survey reveals. Less than a quarter of smaller firms surveyed said they were working with their staff to enhance the appearance of the company. The study, by mailing services company Pitney Bowes, reveals that only 25% say they are focused on improving their employees' telephone manner or written communication skills.
A&A

Characteristics That Make a Successful Entrepreneur

Do you have what it takes to be an entrepreneur? Entrepreneurs are like everyone else - the difference is they usually have stronger feelings and express themselves more strongly that those less likely to strike out on their own. If you are going to risk your money and time in your own business you must have a strong feeling that you will be successful. These strong feelings may also cause problems. If you want to start your own business, you probably have mixed feelings about authority.
A&A

Small Business Resource Guide Available for Free

The IRS and the U.S. Small Business Administration have pooled their resources and created a CD full of information that will help small businesses understand their federal tax requirements as well as providing other essential business information.The CD contains start-up information for new small businesses and valuable information from a variety of government agencies, non-profit organizations, and educational institutions, including the U.S. Department of Labor, the U.S. Social Security Administration, the U.S.
A&A

When is The Right Time to Refinance a Mortgage?

Article contributed by; Peter Marino, Green Street Financial Group, Inc. and Member of the National Network of Accountants' Preferred Provider Network.Since January the Federal Reserve has cut short-term rates by 2.75%, however mortgage rates have gone slightly higher than they were prior to the cuts. Determining whether or not to refinance an existing mortgage takes more than just watching the continuous roller coaster fluctuations of interest rates.

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