News

CFO Views on Federal Financial Management

A new survey commissioned by Grant Thornton and the Association for Government Accountants tracks the trends, issues and beliefs by CFOs related to Federal financial management.The Millenium AGA CFO Survey: Formula for Enterprise Insight has been conducted each year since 1996. The top areas of concern based on survey results included roles, management, technology, structure and people.
Tax

Roth 101: A Refresher Course

Now that the Roth IRA has been around for a few years, many CPAs and accounting professionals have extolled the value of the plan to their clients, but for some reason, many taxpayers aren't taking advantage of this vehicle.To refresh your knowledge of the Roth IRA, here is a basic explanation of its benefits and parameters.The Roth IRA is available in a $2,000 contribution or Roth conversion, and the latter plan often brings about the most savings.
Technology

Here's a First: Virus Attacks Handhelds

A new virus, that is already dealt with and resolved, illustrates the vulnerability associated with handhelds and their ability to catch a virus.This virus, which really was in the form of a 'Trojan Horse,' was called the Crack 1.1, and was the result of a download program for handhelds.

Boss Needs to Share Vision with Staff

As the boss, you probably know exactly where the company is going and where it is in reaching these goals. It’s important to let employees in on this. Unfortunately, employers sometimes assume that the staff knows exactly what upper management is thinking and that’s not always the case. It’s especially important to share how the company is faring when employees see an increase in workload but are unsure as to why this is occurring.Never be afraid to get personal about your convictions. In fact, most employees will appreciate knowing how you feel.

Why Not Test Your IQ Online?

Tucked away on the web site of England's Chartered Institute of Taxation is a section on IQ tests.The tax body says there are a number of tests to be found on the web, and has picked out three which provide a score for you on-line.It does point out that the Institute has no control over external sites and it cannot take any responsibility for any aspect of those sites. So don't blame the CIOT if the results are not what you expected!Why not have a go, and don't get depressed!

Arthur Andersen Faces Multi-Million Dollar Baptist Lawsuit

A religious organization has filed a lawsuit against Arthur Andersen, claiming its former auditor's negligence led to its bankruptcy and the loss of hundreds of millions of dollars.Arthur Andersen had acted as the auditor of the Baptist Foundation of Arizona (BFA) for 15 years.

Air Travelers Wing Their Way to Online Purchases

MilePoint.com has teamed up with several major airlines and some online retailers to initiate an exchange program – miles for merchandise. Participating airlines include (so far): Delta, Northwest, US Airways, Continental, America West, and TWA. Also participating is Hilton HHonors Worldwide which currently participates in the frequent flyer miles program.
Practice Management

Have You Considered Value Pricing?

Talk to Ron Baker about how to bill clients and you won't hear any talk of timesheets. Instead, you will enter the world of value pricing, where a job costs what it is worth, not a fee based on how much time it took to complete. Ron Baker is the author of the best-selling book, The Professional’s Guide to Value Pricing, and has also authored several courses for the California CPA Education Foundation.
Technology

Le Club Prive Bilked Members for Millions

The SEC has filed suit against Le Club Prive, an Internet club, offering advice and recommendations about investments to its members. The suit alleges that the club’s pyramid scheme is a “sham” operation and all assets of the club have been temporarily frozen. A temporary restraining order has halted all club activity.Members of Le Club Prive paid $1,495 to join plus a $149 monthly fee. Members could purchase unregistered shares in mutual funds that promised big returns, and received investment advice. The pyramid feature of the club involved recruitment of new members.
Tax

Eighth Circuit Overturns Tax Court

Previous tax rulings, notably the INDOPCO Inc. vs. Commissioner case, have required that the tax treatment of officers’ salaries in an acquired subsidiary be capitalized.
A&A

The Jailbird CFO: Fraud on the Rise

What's going on in the world of the CFO? The latest trend seems to find some CFOs caught with their hand in the cookie jar - caught in some sort of fraud scheme.Take several examples that have recently made the news. Office equipment leases offered through Bennett Funding Corporation in New York landed CFO Patrick Bennett in jail. Paul Polishan, who was the CFO with Leslie Fay, was sent to jail based on indictments of 18 errors related to accounting misstatements.Why is this happening, over and over, in a seemingly increased capacity?
Community News

Arthur Andersen Makes the Grade in Customer Satisfaction

Congratulations to Arthur Andersen, who was ranked Number One in 14 service categories and attributes by Emerson Research Company in the 2000 Big 5 Annual Report.The report is a compilation of all five firms' operating results as they apply to professional service corporations.Areas covered include opportunities for staff, services to clients, investments for the future, and achieving profitability.A complete copy of the report can be obtained from Emerson at their Web site.

Jack Fox, M.B.A., Author, speaker, comedian

Jack Fox is an unforgettable speaker, retreat facilitator, practice development consultant, master of ceremonies and accomplished professional stand-up comedian. Knowing that business is not a laughing matter, this results-producing author/consultant/seminar leader has assisted accountants and consultants in starting and building their very own successful businesses for more than twenty years.

Value Pricing, with Ron Baker

Value Pricing WorkshopPresented by Ron Baker, speaker, consultant, trainer, and best-selling author of "The Professional's Guide to Value Pricing"Session Moderator: Thank you, Ron, for leading our workshop today!Session Moderator: Ronald J. Baker started his accounting career in 1984 with KPMG Peat Marwick's Private Business Advisory Services in San Francisco.
Practice

Managing Voice Mail For Improved Results

No one likes voice mail, but if you make an effort to use voice mail more efficiently, you will see improved results in a matter of days.Take advantage of the greeting to promote a new offer or new service of some kind. And, be sure to update your email message daily so you send a clear signal that you are on top of your agenda at all times.There are other tips as well.
Community News

SEC May Have Leaked News of Audit Irregularities

The ongoing probe by the SEC of Andersen’s accounting practices was made public last week when a story appeared in the Wall Street Journal that included confidential details of the investigation into the accounting services provided by Andersen to Waste Management Inc. The accounting problems that were uncovered last year resulted in billions of dollars of write-offs for Waste Management.
Community News

Survey Says: 96% of Accountants Have Internet Access

Harris Interactive, the folks who bring you Harris Polls, have finished conducting the CCH Accountants on the Internet 2000 poll and the results are fascinating.
Technology

Amazon's Debt Load Worries Investors

Admit it. You've been at parties or social functions at which a group of accountants, CPAs or financial professionals cussed and discussed the much-anticipated fate of Amazon.com. It's on everyone's minds as we still sort out the dotcom winners from the dotcom failures.Amazon.com continues to be strong in the eyes of the consumer, but the investor side is a different story completely.
Tax

Section 83(b) Election an Option for Tax Clients

Are you familiar with Section 83(b) of the tax code? It provides a method to save your clients money on their tax bill should they own stock options through their employer.With an election made under Section 83(b), the taxpayer agrees to pay taxes on the current value of shares after exercising the option, even if the taxpayer doesn't have full ownership of the shares now because they are restricted.
Technology

Word Tip: Customize Spelling & Grammar Tools

Word’s spelling and grammar checker is a great tool, but it is far from perfect. The system often flags "mistakes" that are actually correct. To prevent Word from flagging an item in the future, you can simply click the Ignore or Ignore All button in the Spelling And Grammar dialog box while you're running the spelling checker.

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