A&A news

A&A

Providing Financial Services - Avoiding The Ten Traps

A few years ago, one of my clients decided to get into the lucrative business of financial services. After all, financial services companies have been competing with CPAs in the accounting and tax business for years. Partners selected one owner to become the financial services “guru” for the firm.
A&A

Salary Gap Between CFOs and CEOs Narrowing

A survey conducted by Maryland based Panel Publishers reveals that CFO compensation has been surging over the last four years in small to medium sized companies. The overall growth of CFO salaries at many of these companies reflects the economic expansion of the last few years. The survey also found an impressive rise in CFO stock option awards as a percentage of salary. Over the last four years, CFOs’ median total direct compensation as a percentage of what their CEOs earn rose 10 percent at the surveyed firms.
Practice Management

Using Industry Profiles to Improve Your Business, with Wil Brawley and Michelle Golden

Using Industry Profiles for Sales Call Preparation, Business Valuations, Audits and More!Presented by Wil BrawleyVice President of Marketing for First Research and Michelle Golden, President of Golden Marketing Resources
A&A

Plain-Paper Debate: Ins and Outs of new SSARS No. 8

The American Institute of CPAs has issued a new standard that could have an impact on CPAs in public practice and CPAs in industry who engage their services. Statement on Standards for Accounting and Review Services (SSARS) No. 8, which went into effect for financial statements issued after Dec.
A&A

The Best Cities to Start and Grow a Business. Top 100 List!

There is such a thing as fertile ground for start-ups. Some locations have just the right factors needed for the success of a particular business -- lots of available capital, a skilled labor pool, the enriching atmosphere created by universities, advanced transportation facilities, and good roads, not to mention the psychic rewards of great weather, and in one instance you'll read about here, proximity to the beach. Inc.
A&A

Human Resources IT Roadmap

Small-business owners and human resources managers who are shopping for information technology usually don't have the luxury of corporate-size budgets. But they still need software and systems powerful enough to handle today's complex HR demands and able to grow with their company's needs.For a growing number of businesses with one to 100 employees, the answer lies with application service providers (ASPs) and their Web-hosted business tools.
A&A

Study Reveals Accountants Want Job Flexibility, Training

A Kelly Financial Resources study reveals that finance and accounting professionals across the nation prefer flexible schedules or working as project consultants to the traditional workday.The study was the result of a survey of more than 1,000 finance and accounting professionals. Many of those surveyed indicated a plan to become self-employed or a business owner. The study noted that despite job satisfaction, loyalty and above-average incomes, financial workers are looking for some kind of change.
A&A

KPMG Consulting Cuts Number of Common Shares

The much-anticipated Initial Public Offering (IPO) for KPMG Consulting made the news again yesterday when the firm announced it would reduce the number of common shares that will be made available in the initial sale.The original number of shares was 367.1 million, and now the number is down to 354.6 million.
A&A

CFOs Stay With Employers Seven+ Years

How long do you think the tenure of a CFO is with any one employer?According to a new survey from RHI Management Resources the average length is seven years or longer.Of those responding, 41 percent said they stayed with their employers this amount of time. The survey was conducted among 1,400 CFOs working in companies with 20 or more employees."For accounting and finance professionals, achieving CFO status is a career apex," says Paul McDonald, executive director. "Tenure tends to be more established at this level.
A&A

Firms Receive Data Requests - SEC Steps Up IPO Probe!

The Wall Street Journal reports that securities regulators are stepping up efforts to investigate how Wall Street dealers allocate hot initial public stock offerings.In subpoenas sent to three major securities firms this week, including Goldman Sachs Group, Morgan Stanley Dean Witter and Bear Stearns, the SEC is seeking extensive records of any large stock-trading commissions received by the firms during the past two years, as well as lists of investors to whom the firms doled out IPOs.
Technology

HR Law Index - Website for Small to Medium Sized Businesses

Everyone turns to the Internet as a link to a fundamental source of information. However, there is so much information out there that it is very easy to get lost amidst the endless pages of information. A site dedicated to helping small to medium sized business with Human Resources issues has arrived. HR Law Index is promoted as a clearinghouse Website exclusively devoted to workplace legal information.
A&A

Biggest Budget Headaches for Accountants

The biggest frustration corporate accountants and financial executives face during the planning and budgeting process is a lack of time, according to a survey from Comshare, Inc.Thirty-nine percent of respondents said a shortage of time to adequately and accurately prepare budgets was the largest hindrance to the process.
A&A

A Fork in the Road for Financial Consultants

Financial consultants favor one of two work environments: the product-based company or the professional services firm.
A&A

401(k): Your Hidden Income Opportunity

401(k): Your Hidden Income OpportunityPresented by: Tom Palka, of RIA TechnologyThursday, December 07, 20004:00 - 5:00 p.m., Eastern TimeTopics for this workshop included: Retirement @ age 55 or later401(k) & IRA Treated differently – Rule 72T401(k) stock sales with Capital GainDivorce & QDRORetirement PlanningView the COMPLETE TRANSCRIPT!
A&A

FASB Changes Stance on Goodwill

The Financial Accounting Standards Board (FASB) yesterday changed a previous decision about the reporting of goodwill on financial statements. The new position will benefit companies making acquisitions of other companies.Currently, merging companies have an option to use a pooling-of-interests method of accounting, which combines the book values of both companies in the resulting merged company. The alternative purchase method of accounting requires the purchasing company to recognized the assets and liabilities of the acquired company at fair value.
A&A

Stamp Prices Increase January 7, 2001

It's going to cost more to mail a letter as of January 7. How does this translate into bottom-line revenue for the Postal Service? It's official: according to the U.S. Postal Service, the cost of a first-class, U.S. postage stamp will increase to 34 cents each as of January 7. Incremental amounts will continue to be charged after the initial ounce.What few fail to realize is the impact one penny can have on revenues for the postal service.
Tax

Mortgages - Financing Mortgage Insurance

For years, lenders have advised consumers that a down payment of less than twenty percent would require private mortgage insurance. In addition, consumers were advised that the mortgage insurance portion of the mortgage payment, although required, was not a tax-deductible item recognized by the Internal Revenue Service. Today consumers, with the education provided by their accountants, financial advisors and mortgage lenders, have options to both maximize the tax deductibility of their mortgage payment, as well as insure the lenders equity in case of default.
A&A

Divorcees Vie for More Than $$$ - CPAs Take Note

What are some of the trends you're seeing in clients going through a divorce? The CPA or accounting professional's role cannot be minimized when it comes to valuing the assets in a marriage. Many CPAs counsel their clients on divorce proceedings, but lately more than the usual household items are at stake. Separating spouses are splitting up assets such as stock options, pensions, time shares and even frequent flyer miles.What's the cost of such an ordeal?
A&A

A Sordid Story at Sunbeam: SEC Probes Accounting Mishaps

The SEC has finished its investigation into the accounting practices that occurred during the reign of Sunbeam's ousted CEO and CFO, and found enough evidence to recommend action.
A&A

Ad Firm Closes After Audit; CFO Kills Himself

The Dallas-based advertising firm of Berry-Brown has suffered more than their share of losses. A story that ran in this week's Dallas Morning News confirmed that the 23-year-old firm has dismissed all 46 employees and has closed its doors, all thanks to an audit that revealed $6.25 million in missing funds.To add to the woes, the audit also uncovered the fact that the CFO, Philip Schieber, had embezzled the money before killing himself last month.

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