Practice news

Practice Management

Small Businesses Looking for a Bundle of Telecommunications

When it comes to communications, a majority of small businesses (64 percent) prefer purchasing bundled services from a single provider, according to a new survey from AMI-Partners. The 2005-2006 U.S. SMB Telecommunications Market Overview and Assessment indicates the most popular bundle consists of local, long-distance and high-speed Internet access services. Interest is also being shown in bundles that include wireless voice services, possibly because 38 percent of small businesses have “mobile” employees who travel frequently and 13 percent have telecommuting employees.
Practice Management

CCH Accountants’ Suite Arrives in Canada

Last week, CCH Canadian Limited launched the most complete and integrated toolkit of its kind, the CCH Accountants’ Suite, for Canadian accounting professionals.“With the launch of CCH Accountants’ Suite, we are bringing to the Canadian market the first genuinely integrated solution of its kind,” Ian Rhind, President and CEO of CCH Canadian, said in a statement announcing the launch.
Practice Management

Mark Your Calendar: AICPA Employee Benefit Plans Update

If you or your firm specializes in employee benefits, the Employee Benefit Plans Accounting, Auditing and Regulatory Update Conference scheduled for December 12-13 at the Omni Shoreham Hotel in Washington, D.C., is a conference you won’t want to miss.
A&A

Microsoft Yields: Will Adopt Open Document Formats

In an apparent effort to respond to Massachusetts’ Governor Mitt Romney’s plan to adopt a so-called OpenDocument format for storing state documents by 2007, a move that could eventually cause the state to remove Microsoft’s Office software from its computers, Microsoft announced in November that it would submit its Office Open XML (XML) to the standards body Ecma International, at their December meeting, the Associated Press (AP) reports.
Tax

CCH Learning Center Adds 2 New Specialized Libraries

Two new specialty libraries, the Accounting and Audit Specialty Library and the Sales and Use Tax Specialty Library have been added to the CCH Learning Center just in time for those working to complete their continuing professional education (CPE) requirements for 2005 or year-end financial reports.
Practice Management

Why Every Business Needs a Cafeteria…Plan, That Is

They’ve been called one of the most under-used employee benefits for small businesses. Not only do they allow employees to set aside a portion of their pre-tax salary for qualifying insurance premiums, medical expenses and even child-care expenses, they also reduce employer payroll tax liability by eliminating matching FICA taxes of 7.65 percent and, depending on the state the business is operating in, possibly also workers compensation. What are they?
A&A

High Deductible Health Care Plans Off to Slow Start with Small Businesses

Health care plans with high deductibles that can offer Health Savings Accounts (HSAs) grew only 2 percent among small businesses this year, according to a survey by Mercer Health and Benefits consultants reported on by USA Today. The high deductible plans are more popular among employers of more than 20,000, 22 percent of whom will offer some form of the plan this year.
Practice Management

QuickBooks: New Solutions for Small & Mid-Market Firms

QuickBooks 2006, which hit the shelves last week, is being called the most significant update to the nation’s leading small business management software so far. Along with a new, easier to use interface, a redesigned QuickBooks Solutions Marketplace and other features, QuickBooks 2006 users will find the support experience to be easier and more efficient.
Practice Management

Governance & Accounting Still Concern Investors

Things have improved but there is still cause for concern. That is the message investors and creditors seem to be sending in a special report published Monday by Standard and Poor’s.“Governance and accounting remain heightened areas of concern for investors and creditors, and it remains critically important for them to assess the often qualitative, intangible, and principle-based dimensions of governance and accounting,” said George Dallas, managing director and global practice leader, corporate governance, Standard and Poor’s in a prepared statement.
Community News

Talking Turkey About Employer Gifts

For many businesses, holiday gifts are a tradition. As with most gifts, some prefer tangible items, like turkeys or hams, other prefer things that can be used in the office, such as mouse pads, books or pens, while still others prefer cash because it is more versatile.
Technology

Simplify Tax Payments with Treasury’s EFTPS

Do your clients make tax payments? If so, the U.S. Department of the Treasury wants to talk to you about the benefits of paying taxes electronically.Simplify is a national campaign launched to communicate to tax professionals and small businesses the benefits of paying taxes electronically using the Electronic Federal Tax Payment (EFTPS).
Practice Management

InSite Business Intelligence Software Now Enhances Visibility

PerformanceRetail introduced the latest version of InSite Retail Intelligence Suite at the National Association of Convenience Stores (NACS) Show in Las Vegas this week.
Practice Management

More Retired CEOs Being Tapped for Corporate Boards

The average age of directors at U.S. businesses is increasing, partly because current CEOs, who were typically asked to serve on multiple boards, are paring back.Reuters reported that the average age of independent directors at companies in the Standard & Poor's 500 index stands at 60.8, up from 60 in 1998.
Practice Management

Time 2005: The Latest Version of CaseWare’s Time & Billing Software

There are probably as many ways to track time at work as there are people working.
Practice

CMA/CFM Credentials Designed for Professionals Working in Industry

The Certified Management Accountant (CMA) credential is conferred by the Institute of Management Accountants (IMA) upon applicants with a bachelor’s degree and at least two years’ management accounting experience, who have completed a four-part examination within a period of three years. Management accountants, who are employed inside industry, government, and academic fields are also called cost, managerial or private accountants, according to the Department of Labor’s web site.
Tax

Getting Ready for W-2 Season

For business owners, it's almost that time again. Those brief three weeks after the holidays and festivities of December when you and your accounting department (which are often one in the same) are expected to pull payroll records, calculate year end totals and reports, and generate those all-important W-2 forms for each person in your employ in the previous tax year. Don't break out in stress hives just yet. There are several steps you can take to ensure a smooth 2006 W-2 season: Check reports for accuracy. Make sure that your year-to-date payroll information is correct.
Practice Management

IPA Reveals 25 Best Managed Public Accounting Firms

The October 2005 issue of INSIDE Public Accounting has recognizes 25 public accounting firms as the best managed firms in the industry. These 25 firms represent the “Best of the Best” based on more than 30 criteria measuring wise management and superior operational performance.“IPA’s ‘Best of the Best’ designation is one of the most elite honors an accounting firm can receive, because it’s based entirely on fiscal and operation performance.
Technology

New Business Planning Tools for Small Businesses

Two new versions of popular business planning software offers small and mid-sized businesses the opportunity to utilize the same level of detailed business planning as their larger competitors. In fact, these new versions were designed with unique needs and challenges of small and mid-sized businesses in mind.SAP AG unveiled the latest version of SAP® Business One last week. SAP Business One is an affordable business management software solution designed to meet the needs of rapidly growing small and mid-sized businesses in more than 37 countries worldwide.
Practice Management

Wanted: Accounting Grads, Willing to Pay Gym Fees

Overworked accounting executives are finding that great pay and benefits aren't enough to attract top talent.Satisfying the crushing demand for accounting services means getting creative: offering athletic club memberships, flexible work schedules, telework options, bonuses, training opportunities and the intangibles, such as a positive “work environment” and “work-life balance.”
Practice

White Paper Overview: CPA Firms Lack Formal Staffing Programs

Few certified public accounting (CPA) firms have formal, documented programs for attracting and retaining qualified staff members a recent survey conducted by the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA). Survey results appear in the white paper Best Practices in Recruiting and Retaining Talented Staff. “Unfortunately, many firms believe that they lack the resources to implement a formal program.

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