Technology news October 2006

A&A

Microsoft Sees Big Numbers in Small Business Bookkeeping

Microsoft, the giant among titans, is going after the pencil-and-paper bookkeeping market with the latest accounting program for small business.Microsoft cites market research that estimates there are 20 million small or home-based businesses where the accounting is tapped out on a calculator and kept on paper, or at best maintained in spreadsheets."They have various obstacles to using accounting software, such as the cost or fear of technology,” the company quoted Rajat Taneja, general manager of Microsoft Small Business Applications and Services.
Technology

Embedding Data from an Excel Spreadsheet in a Power Point Presentation

Embedding data from an Excel spreadsheet into a Power Point presentation is especially useful if the basic presentation is used repeatedly and frequently. When data is embedded in a presentation or document it allows the data in the presentation to be updated automatically when the data is updated in the source spreadsheet. Presuming both the source spreadsheet and the destination presentation already exist and are open in separate windows, follow these steps to embed the data: Select the range of cells you want to copy in the Excel spreadsheet.
Technology

How Do You Spell That?

Is correct spelling important? You would think the spelling of words appearing on money would be more important than other uses, but this is not always the case. Reuters has reported that the central bank of Kazakhstan misspelled the word “bank” on their new 2,000 and 5,000-tenge bank notes and the bank wants to put these notes into circulation next month. The tenge is also known by the acronym KZT on world currency markets.
Technology

Corporate Focus Now Meets FAS 123R Option Expensing Regulations

Two Step Software, Inc. introduced its new version of Corporate Focus at the National Association of Stock Plan Professionals’ Conference October 10-13 in Las Vegas. The new software includes option expensing to meet FAS 123R valuation regulations, Two Step said. FAS 123R rules require financial institutions to recognize in their income statement the grant-date fair value of stock options and other equity-based compensation issued to employees.The new Corporate Focus release will now be able to calculate that valuation according to FAS 123R guidelines.
Technology

More Room for Compliance & Control Automation

Approva® Corporation has surveyed 200 high-level finance, internal audit and IT executives at leading public companies and the survey results found that many companies still manually audit a large portion of their organization’s internal controls.Approva, a producer of continuous controls monitoring and audit software, announced the survey results this week.
Technology

Spreadsheets Advance Beyond the Boundaries of Excel

Standalone spreadsheets, such as Excel, have not seen much innovation for a decade. The need for enterprise utility has become necessary in the face of Sarbanes-Oxley (SOX), according to Intelligent Enterprise. With all the corporate uses for spreadsheets, other companies are developing new applications to manage and control them more effectively.A quote by PricewaterhouseCoopers (PwC) posted on the ClusterSeven web site reads, “As some companies have discovered, errors in relatively simple spreadsheets can result in potential material misstatements in their financial results.
Technology

Microsoft Will Modify Vista to Comply with EU Antitrust Rules

Microsoft Corp. announced last week that it would launch its new operating system, Microsoft Vista, on schedule, worldwide. In order to do so, the company is yielding to pressure from the European Commission to make changes that would open the system to products manufactured by rivals. Last month the company had threatened to delay shipment to Europe rather than make the changes because it said the European Commission had not given it clear guidance on whether Vista would ultimately meet the requirements of European antitrust laws, The New York Times reports.
Technology

Canadian Accountants Return to Television

“As the first accounting association to get our message out on TV with a series of profile-raising ads that ran from 1994 to 1999, we definitely recognize the power of television,” Delmarie Scherloski, director of public affairs for the Certified General Accountants (CGA) of Ontario, explained in announcing the airing of three new television ads. “For the last few years we used ‘close captioning’, but the time has come to again expand on CGA Ontario’s message.
Tax

East European Hackers Invade Online Brokerage Accounts

Using spyware loaded on public computers in internet cafes or hotels or attached to email messages to potential victims, hi-tech crooks, operating from remote locations, have been able to enter online brokerage accounts in the U.S. and either sell off the contents and take the proceeds or manipulate stock prices, according to regulators at the Securities and Exchange Commission (SEC), Reuters reports.
Technology

New Resource for Freight Accounting Professionals

Financial Operations Network, a provider of financial and business resources, has created a new resource to help freight businesses increase efficiency, reduce costs and streamline their accounting processes by launching the Freight Accounting and Information Management Association (FAIMA).
Technology

U.S. Is Third Among World’s Most Globalized Nations as Population Hits 300M

Singapore remains the most globalized nation in the world, according to the 2006 A.T. Kearney/FOREIGN POLICY Magazine Globalization Index™. American technological connectivity, however, has helped the U.S. move into the third place in the annual study which assesses the extent to which the world’s most populated nations are becoming more or less globally connected. Switzerland took over second place.
Practice Management

Taking the Pain Out of Employee Performance Reviews

Pay and performance reviews are the most common causes of conflict between employees and their supervisors or managers. Globally, 32 percent of workers report pay reviews as the source of workplace conflict, while 19 percent cite performance reviews or not being considered for a promotion as the main cause of conflict, according to the latest Financial Directions Survey from Robert Half International. “Issues over pay and career progression are clearly a cause of stress for finance professionals.
Technology

NetSuite, “The Next Big Thing”, Ends Salesforce Sticker Shock

NetSuite, selected as one of five “the Next Big Thing” companies at http://www.sandhill.com/conferences/enter2006.php Enterprise 2006, has struck a blow to end sticker shock by offering life-time fixed subscription price for salesforce.com users migrating to NetSuite CRM+.
Education & Careers

ProQuest Delivers Periodical Content & Professional Standard to Accounting Scholars

ProQuest Information and Learning, the research solutions company, on Monday launched a revolutionary new solution for accounting scholars: ProQuest Accounting & Tax with Standards™. This new model advances traditional aggregation to create a one-step research experience."The new ProQuest Accounting & Tax with Standards product fills a definite void in the need for accounting and tax information for our students and faculty," said Alicia Estes, Head of the Business & Documents Center at New York University's Bobst Library.
A&A

Mobile Security Market: Preparing for Dynamic Growth

A new study found that an increasing market for mobile security products, including anti-virus, virtual private networks (VPN), data and file encryption and mobile identity management applications, is expected to reach almost $5 billion, installed in 247 million phones by 2011. Juniper Research, specialists in providing quality analytical research reports and consultancy services to the telecom industry, gathered information from some of the fastest growing mobile security providers to gain insight into the current and future market.
Practice

Technology Speeds Financial Close Process without Sacrificing Accuracy

Firms are still spending significant time and resources completing their reconciliation process despite technological advances that make it unnecessary. Increasingly tight regulatory guidelines, more stringent reporting requirements and complex operations over wide geographic regions, are only a few of the hurdles companies must overcome to achieve a faster, more efficient financial close process.
Technology

E-tutoring Now Available to Accounting Students

Accounting students, struggling with a problem in the middle of the night, can now get live help from one of the new online tutoring companies.Based in India and the U.S., these firms employ tutors from around the globe, using a combination of Voice over Internet Protocol (VoIP), instant messaging (IM) and a virtual white board to which the student and the tutor both have access, Reuters reports. Smarthinking.com provides tutoring through individual accounts, college and institutional accounts and its partnership with the publishing company, Houghton Mifflin, Co.
A&A

Avoiding Spreadsheet Slip-Ups

Spreadsheets help individuals and business organizations record financial data efficiently. Excel is probably the most common spreadsheet application used by businesses today. Users program formulas and macros to automate calculation of financial data as well. The seemingly simple financial logic inside spreadsheets can also cause embarrassing errors.
Technology

The Paper Trail Isn’t Dead, Yet

The demise of paper has been predicted for decades. Paper, however, is proving more durable, and important, than many imagined, particularly in the wake of history’s largest corporate scandals. The 29 million short tons of printing and writing paper consumed in the U.S.
Technology

Sony Will Recall Batteries; CPSC Offers Tips for Safe Notebook Use

Toshiba Corp. announced on Friday that it would recall 830,000 batteries manufactured by Sony in response to a statement by Sony that it would initiate a global recall of all its battery packs, PC Magazine reports. This followed Thursday’s announcement by IBM and Lenovo Group that they will recall 526,000 rechargeable lithium-ion Sony batteries purchased with ThinkPad computers.

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