News

Worker Productivity Jumps to High Levels

Americans are working harder and building it faster.According to the Department of Labor, productivity among American workers jumped 5.3 percent in the second quarter. Combined with previous increases over the past year, productivity is rising at the fastest rate in 17 years.The figure is determined by the amount of output per hour of work, and actually grew by almost four percent from the first quarter alone, where the increase was 1.9 percent.What's the impact of these increases?
A&A

A Humorous Look at a CFO's Top Duties

A recent story on AccountingWeb chronicled the rocky times at Microstrategy.As an aside, The Motley Fool is at it again. The online pundit of finance and business-related issues has observed the latest goings-on at Microstrategy, and developed a list of the top five new duties of the recently appointed CFO. They are (drum roll, please): 5.
Tax

Has the IRS Stepped Over the Line?

A proposal by the Internal Revenue Service has tax preparation software companies and the technology industry up in arms.The Service is asking tax software companies to offer taxpayers 'free' tax preparation and electronic filing services in exchange for providing easier access to individuals' private tax records.While this doesn't seem inherently out of order, software companies believe the IRS may someday be a competitor in offering the same services.
Technology

Employers Who Read Employees’ E-Mail Face Risks

Employees have a right to e-mail privacy, as long as “there is a subjective expectation of privacy and that expectation is objectively reasonable,” or if the employee commits “an unreasonable intrusion upon the seclusion of another,” according to Dr. Steven Abraham, J.D., Ph.D., university professor, and legal advisor.
Technology

Netscape Users Vulnerable to New Security Breach

A new hole has been dug and Netscape users are falling in. A little java applet called Brown Orifice, named for a hacker utility called Back Orifice, is out there lurking in cyberspace. The applet can reside on any web site and you can’t see it if it’s there. If you access a web site containing the applet, the applet will run in the background, providing access to the files on your hard drive.The applet was created by, Dam Brumleve, a security expert who chanced on the programming code last week. Brown Orifice is not all bad.

Email Privacy: What Every Employer Should Know, with Steven Abraham

Dr. Steven E. Abraham, J.D., Ph.D.Session Moderator: I'm excited about welcoming Steven Abraham as our workshop leader.Dr. Steven E. Abraham holds a B.S. from Cornell University (1980), a J.D. degree from New York University School of Law (1983) and Ph.D. degree in Industrial Relations from the University of Wisconsin-Madison (1992). He is a member of the New York State Bar as well as the bars of the Eastern and Southern District of New York. Between obtaining his J.D. and Ph.D. degrees, Dr.
Community News

KPMG Consulting Goes Public

KPMG Consulting, a breakaway company from KPMG, which was formed last February, has announced an initial public offering.
Technology

D&T Resigns after Dotcom Difficulties

The Big Five firm told its client, Financialweb that its "lack of adequate systems, controls, and personnel necessary to timely prepare internal and external financial statements" for the past three years was a reportable condition, and it was resigning immediately.The auditors also recommended that the firm conduct an internal investigation into allegations that its stock was the target of manipulation, as raised in a federal indictment concerning a shareholder and consultant connected with the Internet firm.Financialweb
Technology

AICPA Portal, CPA2Biz, Names Management Team

The new Internet portal created and now run as a separate company by AICPA--CPA2Biz--is closer to opening for business.Information on the management team was posted on the web site this week, which includes Chair of the Board Barry Melancon, CPA; Chief Executive Officer Brett L. Prager, Senior Vice President, Strategy & New Product Development John F. Hudson, CPA; Senior Vice President, CPAs and State Societies Gideon Malherbe; and Director of Business Development Wayne Harding, CPA.The team includes some AICPA staff, along with outside consultants.
Technology

Palm Reaches new Market With M100

In an effort to expand its ever-growing market share and perhaps appeal even more to younger audiences, Palm has just released its M100 model to replace the best-selling Palm IIIe.Analysts say Palm's appeal to a younger sector is evident through the M100 and its fashion color, interchangeable color covers.There are several other major differences in the new model, too. The screen is smaller than any other Palm devices. However, a Hotsync cradle no longer is needed because the Palm connects directly to a PC for syncing with a serial port cable.

Employees Just Wanna Have Fun

How does an accounting firm keep up with the times? Descriptions of the accounting industry often produce terms like down to earth, levelheaded, studious, etc. Face it, "fun" isn’t exactly the first term that comes to mind. However, in today’s job market, fun is a valuable feature to offer.
Practice

Do You Really Know Your Clients?

If you’re looking to position yourself as a leader in your industry you’ve probably found yourself focusing on the intricacies of the accounting industry itself. While this is a mandatory aspect of what you do as an accounting professional, a way to differentiate yourself from the competition is to be an expert in your client’s industry.Make it a point to subscribe to publications focusing on the industry you find your practice wanting to grow the most, or the ones your practice has developed a strong client base in.

SurePayroll.com Launches Trusted Advisors Program For Professional Services Firms

HIGHLAND PARK, IL – August 7, 2000 – SurePayroll.com, provider of the fundamentally different, 100% web-based payroll service, announces the creation of its Trusted Advisors Program (TAP) -- a client assistance and referral program for professional services firms.Payroll processing companies and professional services firms have always had a reciprocal relationship when it comes to payroll.
Community News

Wadia Resigns over Andersen Divorce

Arthur Andersen chief Jim Wadia has sensationally resigned after the arbitrator's ruling on the accountancy giant's divorce from Andersen Consulting.The International Chamber of Commerce ruling gave Arthur Andersen back its name, but found that the two firms' umbrella group Andersen Worldwide was in breach of its obligations under the original operating agreement.Wadia said in a statement that he has decided to take early retirement from the firm after welcoming the court's decision.
Community News

Andersen Consulting is Free!!!

Andersen Consulting got the word in its New York Offices at about 5:00 this morning – the firm is no longer tied to Arthur Andersen in any way and can compete freely for clients without having to pay any fees to Arthur Andersen.Terms of the 130-page arbitration document that came across a fax machine in New York this morning, while members of Andersen Consulting were cheering, include the following: Effective immediately, Andersen Consulting is a separate entity from Arthur Andersen and Andersen Worldwide.As of today, all agreements are severed and all transfer payments
Community News

Computer Associates Names new CEO; ACCPAC to Split

In the wake of less-than-desired earnings, Computer Associates today announced the appointment of Sanjay Kumar as president and CEO. He previously held the position of president and COO.The announcement blends with the company's motivation to renew itself and to facilitate a general across the board.
Technology

AICPA, Other Countries Discuss Online Privacy

Officials from the AICPA traveled last week to the city of lights to meet with representatives of 12 other countries and discuss the foreboding issue of online privacy and risks associated with e-Commerce.AICPA chairman Robert Elliott commented that 'As the representative of over 335,000 individual members of the accounting profession who deal with confidential information on behalf of both individuals and businesses, we feel strongly about the need to protect private information.

ACCPAC Applauds XBRL Release

ACCPAC,a member of the XBRL Steering Committee, has publicly announced its support and praise for the first XBRL specifications, released last week and announced in a story on AccountingWeb.A division of Computer Associates' interBiz group, the goal is to develop guidelines and specs that blend with the financial practices and tax rules followed on an international level.Barry Melancon, president and CEO of AICPA
Tax

Clinton Vetoes Marriage Tax for All the Wrong Reasons

President Clinton issued his long-promised veto on Saturday and dashed the hopes of married couples everywhere who were hoping for a tax cut this year. In a confusing message, Clinton stated first that the elimination of the marriage tax penalty would take too much revenue away from the government and more than use up the federal surplus about which we keep hearing so much.Upon closer examination, it is clear than Clinton believes no such thing.
A&A

Decimals to Come to the Stock Exchange

Beginning August 28, 2000, you will start seeing securities listed with decimals instead of the traditional fractional reporting that has been available since the exchanges began.Decimal pricing will be phased in in a four step process through April 9, 2001, when all securities on all exchanges will be listed in decimal format.

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