News

401(k): Your Hidden Income Opportunity, with Tom Palka

AccountingWEB Workshop: December 7, 2000Presenter: Tom Palka, Certified Financial Planner and the founder of RIA Technology, Inc.
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!

Excel Tip: Copy an Entire Worksheet

Here's a timesaving tip for Excel users who frequently need to copy an entire worksheet (a page within a workbook) of information-such as a list of items for a monthly inventory-from one workbook (Excel file) to another.To copy an entire sheet to another workbook, follow these steps: Open the workbook into which you want to paste the copied sheet. Switch to the workbook that contains the sheet you want to copy. Right-click the Sheet tab of the sheet you want to copy.

Spotlight on Allan Boress

AccountingWEB SpotlightAllan Boress, CPA, CFEPresidentAllan Boress & AssociatesThe job is incomplete without ongoing sales and marketing efforts!The deficit that Allan Boress saw in his own skill set — early in his career as a CPA — so motivated him to enhance his abilities, that he now teaches others the same principles of good business.A practicing CPA and CFE, Boress has provided expert counsel to some 500 medium- to large-sized firms since becoming a business development consultant in 1980.
Technology

More Great Shopping Sites! Don't Miss This!

Check out the updated AccountingWEB Top Shopping Sites. We have scoured the Web to come up with a collection of sites that will help you with your holiday shopping. Whether you are buying for family, friends or co-workers, don't miss these favorite sites!Here are more Top Shopping Sites that we have chosen as excellent online shopping locations. We will be adding to this list weekly, so check back to view new sites and ideas. We have every shopping opportunity covered: wine, toys, jewelry, pets, co-workers and friends.
Technology

Hibernation Feature Saves Computer Files

Have you ever had to leave your office in a hurry while you were buried in figures on your Excel spreadsheet? Did you forget to shut your computer down? If this happens to you, and you worry later that all your time and effort may be lost, try this computer tip.The Hibernation feature allows you the freedom to leave your computer and information for an extended period of time without the worry of a system shutdown. You will return to your computer and information just as you left it. When you restart your computer, your desktop will be restored exactly as you left it.

SEC Chief Gives Backing to Stronger Watchdog

The Securities and Exchange Commission's chief accountant has lent his backing to a strengthened Public Oversight Board for overseeing the accountancy profession. Lynn Turner told the SEC's annual conference that he supported the recommendations of the O'Malley Panel on Audit Effectiveness, which suggested a number of changes to the watchdog in the light of the public's opinion of the accounting profession. Among these were the need for greater oversight of the standard-setting bodies, and independent funding for the POB.

KPMG Sued by Florida Insurance Department

Claiming the Big 5 firm failed to uncover improprieties in the audit of HMO SunStar Health Plan, Inc., the Florida Insurance Department has filed suit against KPMG for $47 million.Earlier this year the department seized SunStar, claiming the organization didn't have enough money to pay the claims of its 80,000 policyholders.
Tax

PwC's VAT Online Helpful to Tax Professionals

A new service from PricewaterhouseCoopers offers detailed information on the VAT, or Value Added Tax, along with news feeds on the latest developments in the VAT arena.This site is helpful to finance directors and tax preparers/professionals who are seeking more information on how the VAT is affected on a day-to-day basis across the world. Known as GlobalVatOnline has information on VAT rules and rates in more than 70 countries."GlobalVatOnLine is an on-line repository of information and news about VAT and how to manage it.

Detroit School Principals Get Accounting Education

It's back to school time for school principals in the Detroit area, where school audits have disclosed embezzlement and mismanagement of funds in schools that haven't been audited in 12 years.One Detroit school bookkeeper was charged with embezzlement and forgery and has since pleaded guitly to those charges, two others face charges, and more charges are expected to follow as the Wayne County Prosecutor's Office reviews audits from other schools.School administrators are being provided with emergency training in finan

The Bottom Line on Gift-Giving at the Office

There aren't any written rules on whether to give gifts to the boss, co-workers or anyone else for that matter in the workplace, and at this time of the year, giving and receiving, alike, can be extremely stressful.So here are some guidelines: What is most appropriate and how should gift-giving be approached? According to a consulting firm called Eticon, common sense is the best approach, mixed with some thoughts before actions.First, the boss. The advice provided by Eticon is to evaluate how closely you work with your boss. Overly extravagant or costly gifts aren't necessary.
Technology

Is Free Internet Access a Thing of the Past?

Do you pay for your Internet/email service? If you're a customer of Alta Vista and enjoyed free Internet access, you'll soon find out that the days for no-cost e-mail and access to the Web are numbered.As of Sunday, Dec. 10, Alta Vista will cut off more than 3 million customers due to increased cost and lagging support of its advertisers.
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.
Workplace Fitness

"Power Napping" and Relaxation Tips!

Some say that power napping is the key to success. More and more businesses are recognizing the tremendous payback to their employees when time is allowed for "Power Napping". You too can run and run like the Energizer Bunny!

Michael Platt

Michael Platt, President and CEOAccountingWEB, Inc.Recently named as one of the "Top 100 Most Influential People in Accounting," Michael has been an integral part of the US accounting scene for the last fifteen years. He has worked with many of the top CPA firms in the country through his tenure at Associated Accounting Firms International, and Moore Stephens North America, two of the largest associations of independent accounting firms in North America.
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.

FASB Rejects Preset Coverage Ratios

The Financial Accounting Standards Board has rejected the use of preset hedging coverage ratios, or matrixes, a method that has been preferred by many hedging professionals.The matrix approach, favored by mortgage service providers, allows mortgage companies to hedge a percentage of their servicing portfolios and increase their heding positions in response to changing interest rates.The FASB has announced that this hedging approach is not acceptable under FASB statement number 133, which governs accounting for derivative instruments and heding activities.The FASB has agreed to move fo
Practice Management

Intuit Expands Web Presence

Intuit, Inc., has unveiled a new Web site, IntuitAdvisor, offering a host of online solutions to help tax, accounting and financial professionals move from the physical world to the electronic world. Included in the new site's offerings is the WorkSpace Pro feature, a subscription-based service allowing professionals to establish a customized online working environment in which private client sites may be created, information may be shared, and security will be maintained.

Guidelines for Holiday Tipping

One financial concern often overlooked during the holiday season is the process of thanking those who support your efforts throughout the year.We're not talking about your own staff, but service professionals like mailmen/women, the parking garage attendant and even the maintenance man - all of these people deserve your thanks, but how much should you give them as a present?The decision is your own, of course, and totals depend on how close you are to each one of these people.
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.

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