News | AccountingWEB


38% of Job Applicants Lack Basic Skills

The American Management Association reported recently that over 38% of job applicants lacked basic skills for the jobs for which they applied.

TaxMama Explains Benefits of Enrolled Agent Status

Eva Rosenberg, also known as The TaxMama, joined the AccountingWEB community today in a workshop in which she explained the ins and outs of the Enrolled Agent status. This professional status is bestowed by the U.S. Department of Treasury to tax experts who pass a rigorous two-day exam, covering Individuals, Sole Proprietorships and Partnerships, Corporations, Fiduciaries, Estate and Gift Tax and Trust, Ethics, Record keeping, Procedures, Appeal Procedures, and Exempt Organizations.

A Career Alternative: The Enrolled Agent

Session Moderator: I'm excited about our workshop leader, Eva Rosenberg, a.k.a. Tax Mama. She has a very informative workshop planned for you and has served it up in her unique style that has resulted in a worldwide following.Eva has decades of tax and business experience, across a surprising spectrum of industries. Combining formal training at national CPA firms and years in the trenches with her warm, homey style, she does her best to protect her brood from the ravages of the U.S.

Get Cheap Rates at Not-So-Cheap Hotels

Boy, did I learn my lesson about hotel reservations recently. I diligently called hotel after hotel searching for a "great" (after awhile even "fair" was starting to look appealing) rate. What did I find?Well, for starters, the Internet served up the lowest rate time and time again. When I mentioned the online rate to reservationists at the actual hotel, they didn't know anything about the special and said I would have to book online to get this rate. So I did. Then I did some checking.This is what I found:- When you make a reservation, avoid calling the 800 lines for large chains.

Trojan Horse Virus: A Hoax or the Real Thing?

The latest discovery on the virus front is a type of virus that results when you view a video clip or download a seemingly innocuous executable file from the Internet. Contained in the execution of the action is a program that launches itself on your computer.While you are still online, the program transmits your Internet address to another location where it can be recalled at any time to carry out specific orders, such as sending out data to other addresses.

CPE Price War Erupts!

Increased competition has forced Practitioners Publishing Company to come close to the pricing structure offered by the AICPA.AICPA will price its online CPE at an annual fee of $95 for what it calls 'all-you-can-eat' online CPE, while the PPC fee will be $99 for any and all courses CPAs and others want to take to satisfy their educational requirements. The PPC courses are called 'one-stop-shop.'Note that this is for 'online' CPE only. PPC courses already are online at the site.

New IRS Division Supports Retail, Food & Pharmacy Biz

One of the effects of the modernized IRS is the necessity to service businesses faster and resolve issues before they become too difficult to handle.A new section of the Large and Mid-Size Business Division (LMSB) will focus on just that for the food, retail and pharmaceutical industries.

Where Do Your Tax Dollars Go?

The IRS has added a new page to its web site.

ePartners Acquires A Leading Pivotal Solutions Provider

Austin Data Systems – one of the largest providers of Pivotal solutions in the southern region of the United States Dallas, TX (June 12, 2000) – ePartners™, Inc., the leading eBusiness solutions provider for emerging middle market companies, today announced the expansion of its National Customer Relationship Management (CRM) Practice with the purchase of Austin Data Systems (ADS), one of the largest providers of Pivotal solutions in the southern region of the United States.

How to Increase the Speed of Your Internet Connection

If you work in a large firm or company, Internet speed really has been a 'non'-issue for the last few years. T-1 and ISDN lines have existed for some time, and now newer connections through DSL and cable modems also have become more readily available.But what if you're a small business, a practitioner working in a small- or even medium-size firm, or in some other capacity?

Accounting Interns' Prospects are Sunny

A low unemployment rate and fewer students have enabled students nationwide to find themselves in a very good position as they seek and secure summer internships.Just look at what one student who has agreed to work for Ernst & Young in Milwaukee will receive.

House Votes Overwhelmingly to Repeal Estate Tax

An historic vote in the House today will pave the way for the eventual repeal of the oppressive estate tax. The vote was 279-136 to repeal the "death tax" over a period of 10 years. Sixty-five Democrats voted in favor of this bill, enough to override a projected veto by President Clinton.The tax affects about 2% of Americans, many of whom are owners of farms and family businesses. It is estimated that the repeal of the tax will cost the government approximately $50 billion per year.

Internet Businesses with European Sales Face Taxation

The European Union (EU) is considering a new program that will “level the playing field” by making U.S. high-tech companies subject to the same type of Value Added Tax (VAT) that European companies enjoy. Initial reaction among U.S. companies is that this program will discourage sales in Europe or, at least, will result in a higher price structure for items sold via the Internet to European customers.The VAT rate is 15% to 25% on non-physical goods, such as software and data. Estimates are that the tax will cost U.S.

1040PC Bites the Dust

The 1040PC provided a paper-saving method for filing tax returns, by presenting a scannable tax return prepared on a computer. The method didn’t quite catch on, and with the momentum that electronic filing has gained, the IRS feels the time is right for dropping the 1040PC format altogether.The 1040PC format will not exist in the spring of 2001, and will therefore not appear as an option on computer programs that prepare tax returns.

AccountingWEB Weekly News Wrap-up - Issue 46

The AccountingWEB Friday Wrap-Up Newswire - Issue 46 June 9, 2000 Logon to for more resources. Don't know your membership logon details?

Excel Tip: Correct Erroneous Dictionary Entries in Word and Excel

Have you ever used the spell-checker in Word or Excel and clicked the Add button when you meant to click Change or Ignore? Suddenly a misspelled word has been added to your dictionary, and from now on, every time you type "acounting" instead of "accounting," the spell-checker blithely accepts your typing and ignores your shouts and pleas to correct the spelling of the word. All words that you add while using the spell-checker in any of the Microsoft Office programs (including Word and Excel), are saved in a file called Custom.dic.
Community News

SEC Offering Amnesty for Independence Violations

The SEC has initiated a look-back program in which all participating accounting firms will subject themselves to independent scrutiny of their financial independence with regard to their audit clients. Participating firms as well as their clients will be provided with a safe harbor from enforcement unless certain serious violations occurred.The look-back program is entirely voluntary, but it is hoped that the amnesty incentive will provide the necessary encouragement for firms to participate.

Audit Improvements Recommended

The Panel on Audit Effectiveness, a group appointed by the Public Oversight Board at the request of Arthur Levitt, chairman of the Securities and Exchange Commission, has completed an exhaustive examination of the current audit model being used by accounting professionals.The Panel suggested many recommendations for improvements in the conduct of audits and governance of the profession.

ePartners Forms Strategic Alliance With Pivotal

Now Offers Companies Consulting & Implementation Services on eRelationship™ 2000 Suite and eSelling 2000Dallas, TX (June 7, 2000) – Today ePartners™, Inc., the leading eBusiness solutions provider for emerging middle market companies, announced a strategic alliance with Pivotal™ Corporation (NASDAQ: PVTL), the leading eBusiness Relationship Management Company.
Practice Management

Purchasing Fraud: Detection & Prevention Checklist

Reprinted with permission by the Financial Management 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?


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