A&A news

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.
A&A

Company Alcohol Policies? Holiday Regrets!

More often than not the issue arises because someone gets hurt due to alcohol consumption in a work-related situation.Employers could end up with legal troubles unless the company can show that it had no control over the situation and had no reason to assume it would occur.
A&A

E-Payments at Forefront of Citigroup/AOL Alliance

Nowadays, if you owed a friend money, you would either pay that person in cash or write him or her a check, right?In the near future, the whole scenario could change, based on talks between online provider America Online and banking giant Citigroup.The two companies predict e-payment is about to become mainstream as the two work to set up a way to transfer electronic payments to individuals through online banking.
Technology

How Much is Your Car Worth?

The end of the year signals a hurried rush to either buy a car, trade in your old one or settle with what you have.
A&A

Priceline's Ex-CFO $3 Million Loan Excused

Many are aware of the fact that Priceline has had its share of problems, but the latest news from the Norwalk, CT-online retailer is stunning. The company is forgiving a $3 million loan given to ex-CFO Heidi Miller.The loan was given a 6.8 percent APR, and the fact that the company won't pursue repayment from Miller is circumspect to her departure.
A&A

Who Wants to be a Consultant? CFOs Do!

Are finance professionals going the way of the rest of the market? Seems so, according to a new survey conducted by RHI Management Resources, which found that 75 percent of CFOs surveyed said consulting is an 'attractive career option.'The reasons were attributed to the variety of work involved, along with a professional challenge to the work itself.
A&A

ValueReporting: Financial Reporting for Today's Economy

In an effort to more accurately reflect the value of today's knowledge-based businesses, Big 5 firm PricewaterhouseCoopers has launched a new framework for financial reporting called ValueReporting, a new method of capturing what is important to 21st century businesses.
A&A

D&T Survey Reports Excellent Holiday Buying Season

The 15th annual Consumer and Retailer Mood Survey: Retail Holiday Outlook poll conducted by Deloitte & Touche and the National Retail Federation has extremely positive results for retailers.The survey reports that an overwhelming 82 percent of respondents plan to spend more during the holiday season than last year.
A&A

Rosy Outlook: Dell Financing Partner Renews Contract

Austin, TX-based Dell Computer Corporation got a shot in the arm when its financial partner, CIT Group of New York, renewed the contract for supporting Dell Financial Services.

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