A&A news

A&A

CFOs are Optimistic on Hiring for 3rd Quarter

The word is extremely positive among chief financial officers; they are forecasting a 14 percent increase in hiring accounting and finance professionals in 3rd quarter 2000.This and other key HR findings are the result of the new Hiring Index released by Robert Half International.The random sample of 1,400 companies with 20 or more employees reports that only two percent of respondents indicated a reduction in new hires.
A&A

Touched by an Angel or Stung by the Devil?

This week's PC Expo brought out the best the computer world has to offer for the future of small business, including a strategic effort for start-up entrepreneurs to seek venture capital funding.A two-day seminar called 'Touched by an Angel' put start-ups at the mercy of 'angels' or so-called investors. Entrepreneurs were given four minutes to plead their case, but most of the time, every one was shot down. Why?Experts attending the seminar picked on this point and that point.
A&A

Rev 'em up! Porsche Boxsters as Benefits Incentive

Today's corporate benefits plan includes all the traditional modes, such as 401(k) plans, insurance, vacation and the like. But Porsche Boxters?Mercury Computer Systems recently awarded 24 such cars to management as an incentive to boost sales and increase the company's earnings. What's the fallout from an incentive program like this?Analysts outside the company think stockholders should be upset that the company is investing its money into benefits like a Porsche.
A&A

The Effect of Interest Rate Hikes on Small Business

By the time you see the late news, you'll know backwards and forwards that the Federal Reserve Bank didn't raise short-term interest rates, but may do so again in August.In the meantime, how does this affect small business? More and more CPAs and accounting professionals rely on the small guys for their bread and butter income, so what kind of effect does a rate hike really have on the economy for the small business owner?Plenty, most of which has to do with financing the start-up or new business venture.
A&A

CPAs Have Role to Play in B2B Commerce

It's no secret that B2B (Business to Business) Commerce has brought extremely lucrative profits, but did you know it's now a multi-trillion industry?Amidst the hustle and bustle of making money, many financial professionals are puzzled as to their role in the long-term environment. Just what is the CPA's role as the financial advisor to clients, customers and employers?A new Journal of Accountancy article (click on link below) traces the growth of the market and the place financial advisors have in the food chain.
A&A

When Friends go Into Business Together ....

One of the more dated clichés is never do business with friends or relatives. However, in today's booming economy, doing business with friends, for example, makes sense in many ways thanks to a shared philosophy and mission.How do successful businesses between friends incubate? Very well, according to experts if timing is right and the friends remain friends.First, both parties must share the same goals, and that means more than just wanting to leave the current job for the other side of the fence.
A&A

PwC may Spin off Corporate Finance Unit

More changes are in store for PricewaterhouseCoopers and their massive restructuring.
A&A

Quick Tips for Reducing Expenses

Smalloffice.com has put together a collection of tips for the savvy small business owner.
Practice Management

Purchasing Fraud: Detection & Prevention Checklist

Reprinted with permission by the Financial Management Network.by Leonard W. Vona, CFE, CPA Director of Internal Audit for the Research Foundation, State University of New YorkThe potential for fraud during any phase of the purchasing cycle is enormous. To detect fraud warning signs and save your organization untold dollars, add these steps to your next procurement audit: Focus your sample on the 3-5 year history of a particular purchase. What trends do you see and - more importantly - don't see?
A&A

National Network of Accountants Founder Honored

Joe Tucciarone, CFP, founder of the National Network of Accountants, Woodbury, New York has been named as one of Accounting Today's Top professionals in financial planning. The list, compiled annually by Accounting Today, one of the nation's leading publications for the accounting profession, was released in May. The list consists of leaders and practitioners in the financial planning and accounting fields that have influenced CPA involvement in personal financial planning sector. "I am very honored to be recognized by Accounting Today.
Tax

House and Senate Join Forces to Change New Small Business Tax Ruling

The small business committee chairmen from the U.S. Senate and House have joined forces to ask Treasury Secretary Lawrence Summers to rethink the recent release of Revenue Procedure 2000-22, which requires small businesses with average annual gross receipts of over $1,000,000 to use the accrual method of accounting.Previous law provided a threshold of $5,000,000 in annual gross receipts before the accrual method was required.
Practice

What A/P Managers Need To Know About Digital Signatures

Reprinted with permission from Financial Management Network. What Every A/P Manager Needs to Know About Digital Signatures and Encryptionor Julius Caesar’s Impact on Accounts Payable Mary Ludwig SchaefferOne of the biggest fears your boss has about the Internet is the lack of security. The solution to the security problem lies in encryption and digital signatures. A/P professionals need to understand that these new technologies are coming to accounts payable — quickly.
A&A

Pivot Tables Turn On Financial Modeling

Consultant David Carter's latest tutorial shows accountants how they can make the most of the spreadsheets used in financial modelling and "What if" analysis by applying the power of the pivot table to produce reliable and trustworthy results.Carter's latest work, which follows in a long line of the ever-popular pivot table tutorials, is easy to follow and brings noticeable rewards. With it, accountants can manage sizeable spreadsheets for modelling and What if's with the minimum of effort.
AccountingWEB Life

ASPs Offer Cost and Time Savings to Small Businesses

By Sheri Jacobs, Director of Association Marketing and Business Development for SurePayroll.com
A&A

Auditors Clean Up with Non-Attest Services

A new survey from the Financial Executives Institute (FEI) finds that an overwhelming 85 percent of respondents say their auditors also provide 'non-attest consulting services.'Respondents claim the reason why this is so high is that they want the freedom to choose consultants, and rely on firms that already provide value to their company through services like audit.More than 60 percent also said that their auditors prepare or review tax returns apart from any tax accrual audit work.The survey was released to coincide with SEC Chairman Arthur Levitt's
A&A

Online Calculator: How Much Does it REALLY Cost When Your Network Goes Down?

Stuff happens. Networks crash. But what is the cost to your organization when that happens? The REAL answer might surprise you. A good disaster recovery planning website www.drplanning.org offers a link to a Network Downtime Cost Calculator where you can calculate both direct and indirect costs of a network failure. IT specialists - you may want to run this calculator to help justify increases in the technology budget for the firm.
Practice

Internet Based Malpractice Insurance Now Available

Accountants, bookkeepers and tax preparers now have an alternative for malpractice insurance, available for the first time through the Internet through a new web site unveiled this week by one year old ePolicy.com, Inc. of Torrance, California.Shopping for insurance can be handled entirely through the Web, and coverage from major carriers is available within minutes.The malpractice insurance available through e-Policy is primarily for firms with 10 or fewer accountants or bookkeepers.
A&A

Survey Shows Trade Secrets Are At Risk

More than half of US corporations are ill-equipped to protect their trade secrets, and do not have an established protocol to ensure their protection, according to a just-released survey of 200 top trial lawyers by PricewaterhouseCoopers and the American Bar Association.Survey respondents estimated that 40-70% of company records are kept in electronic form, but the security and accessability to that information is questionable.
Practice Management

Critical Factors in Receivables Handling

Written by James Herst, Performance Source, Inc., reprinted with permission by The Financial Management Network.Sellers can avoid bad debt losses through better handling of their receivables. Here’s some suggestions. Customer Records a KeyCreate and maintain accurate customer records, including full name of customer’s bank. Know names of those who approve payment, signs check and the superior of each at customer location. Call a new customer and tell your credit terms. Ask: Can you live with that?
A&A

The Legal Audit: A How To Manual - Part II

Written by Annette S. Biesecker, Executive Vice President, Accountability Services, Inc., reprinted with permission by The Financial Management Network.In the first installment of The Legal Audit, we examined the various billing problems and irregularities that auditors should be aware of when conducting a legal audit.

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