News

Technology

EY Strengthens Presence in Latin America

Ernst & Young has improved its market position in Latin American through a 25 percent purchase of Softtek, a company based in Mexico that provides IT support to large-size companies in many countries.Analysts predict both companies benefit greatly from the alliance.

KPMG Slashes Consultants

KPMG is the latest Big 5 firm to lay off consultants due to lackluster revenue growth. According to the The Wall Street Journal, the firm laid off 350 consulting staffers as the U.S. consulting unit’s revenue growth fell behind internal plans.KPMG’s U.S. consulting arm employs a total of 10,000 consultants and currently has a revenue growth rate of 20 percent for 2000.

Finally, "Value Added" Makes Sense!

The AccountingWEB community is grateful to Sylvia Pate, principal at QuickSilver Consulting, for leading a workshop on adding value to client services, and creating a REAL DEFINITION of "Value Added" in a way that we can all understand, communicate and measure.First, let's look at the Value Equation: the framework to make value-add decisions for your clients and firm.The Value Equation

Proactive Stance for New Technologies

How far will technology take us now that we've begun the new century? Our grandparents couldn't have dreamed that electronic everything would be a buzzword for the last 25 years, let alone the term, "E-everything!"So what do new technologies have in store for us?
Tax

Electronic Filing Outweighs Paper System

It seems that at long last, electronic filing has caught on with a fury, what with the surge of online filing at Kiplinger, H&R Block and Quicken Web sites, as well as sending returns directly to the electronic IRS. Still, clients may ask CPAs and accounting professionals for advice as to why electronic filing has its advantages.The IRS has set an ambitious goal of having 80 percent of all individual tax returns (not corporate) filed by 2007.

Moneyopolis Is Great Tool for Kids, Parents

Ernst & Young, LLP (EY) isn’t just targeting Internet start-ups and viable companies, they also are offering a unique tool for kids and parents. The latest offering from the Big 5 firm is a web site called Moneyopolis.Designed in kid-appealing lime green and royal blue and complete with a “Bart Simpson” look-alike mascot, the site is geared toward helping kids hone financial planning and mathematical skills. The site is specifically targeted for kiddoes in grades six through eight.

California Society Partners with Inc.

The California Society of CPAs (CACPA) have announced a new alliance with Inc.com to provide CACPA members with Inc. content on the Society's Web site.The content will be geared to what Inc. does best--content for the entrepreneur, or those associated with starting and growing small businesses. CACPA saw a natural link between the strategies of today's CPA business advisor and the goals for Inc.Inc. actually pursued CACPA because it met what Inc. describes as a grassroots strategy over the Internet.

Value Pathing: Adding Value To Client Services - with Sylvia Pate

Sylvia PateQuicksilver ConsultingSession Moderator: Hi All! I'm Scott Cytron and I'll be your moderator today. The workshop format is intended to be interactive. If you have a thought or question, please jump in! I'll do you a favor and pick up the questions that we miss along the way, so don't worry about your question not being answered. Now, I'll introduce our workshop leader.QuickSilver Consulting, Inc.
A&A

Good Advice for Home-Equity Loans

Clients often ask their accounting professionals to dispense advice on home-equity loans, the somewhat "panacea" to get out of credit card debt, college loans and other drains.Based on financial situations, the home equity loan is not all its cracked up to be. All too often, if a person borrows against the equity in their home to pay off credit card debit or college loans, then he or she may not have even learned how to avoid debt in the first place.
Community News

A Profile of PWC's Chief Executive

Turnover is a major concern these days with Big 5 and mid-range accounting firms, as CEOs across the board have jumped ship in favor of greener pastures, retirement or the next big "dot.com."This is not the case with PricewaterhouseCoopers (PWC) and their chief exec, Jim Schiro.

Accountants Now Have Options for Handling FAS 133

Energy companies and their accountants now have a solution for FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities. The statement, which was released in June 1998, requires all derivatives to be reported on balance sheets at fair market value beginning with the first fiscal year following June 15, 2000.

AICPA Marks 20 Years of Technology Conference

Back when CPAs and accountants could barely work computers, let alone even thinking about using the Internet to communicate with clients and customers, AICPA held its first computer and technology conference.Now, 20 years later, the Institute is celebrating 20 years with its upcoming conference, May 10-12 in Atlanta, GA. Recommended CPE credit is 23-25 hours.So what's changed in 20 years? Plenty!
Tax

Reporting Wages for Domestic Help

Remember the contoversy surrounding the appointment of a Supreme Court judge and other elected officials over the so-called "nanny" tax?Clients often approach tax preparers with questions regarding compensation for help like nannies, yard men, babysitters and others.
A&A

Steve Jobs' Quandry: Airplane Tax Classification

The head of Apple Computers has a team of CPAs at KPMG working to resolve whether a bonus given to CEO Steve Jobs should be classified as a "recurring" or "non-recurring" event.The difference in the classification for reporting purposes is amazing. Experts say shareholders and financial analysts usually give more importance to recurring operations, which typically are the day-to-day activities.Because of this concept, Apple and KPMG chose to classify that gift of the Gulfstream V jet as a non-recurring expense.

Call Is On For Entrepreneur of the Year

So you never thought a Big 5 firm could actually help you, right? Wrong. Ernst & Young, LLP is looking for nominations for Alabama, Georgia and Tennessee based entrepreneurs for the company’s 14th Annual Entrepreneur Of The Year award program. The program focuses on fast-growing companies and is a fantastic opportunity for you to nominate some of your clients. Now that’s value-added!Winners walk away with a lot more than an award.
Technology

A Software Tip Each Day

For those of you who are hungry for software tips each and every day, Internet publisher ZDNet has a solution for you. Register to receive daily tips on the Microsoft Office software suite and more by going to zdjournals.com/zdtips.But for those of you who prefer weekly ideas, try this one: a complete Windows shortcut list, including how to effectively use all those function keys, can be found at pcfuel.com/tips/shortcut.htm.
Technology

Employee Internet Abuse Climbs

The many problems facing employers supplying unlimited, unmonitored Internet access are making them wonder if this is the way to conduct business. Productivity losses, liability risks and security issues are just a few of the problems employers deal with. According to esniff.com, Inc., shopping online, viewing pornography, sending inappropriate e-mail correspondence and checking personal stock performance are just a few of the issues managers face today.
Technology

Windows 2000--What's in it for CPAs?

Thursday marked the debut for the new Windows 2000 operating system, and according to a report, Bill Gates himself said the new OS is much more "reliable" than previous Windows releases.Windows 2000 is complex, with more than 35 million lines of code, and ran one year later in its release than expected ... but what does the release mean for CPA firms and businesses running the software?Actually, firms and companies in the NT environment will benefit the most from Windows 2000.
Community News

More Online Troubles for H&R Block

AccountingWeb has run several stories over the past two weeks about how H&R Block had to shut down the site temporarily due to the tremendous amount of traffic on the site to file tax returns.Now, a spokesperson for H&R Block has confirmed that the site has once again closed its tax filing capability, not because of traffic, but because of several security issues.Based on a report by the Associated Press, some clients were able to view the tax returns of others.

AccountingWEB Weekly News Wrap-up - Issue 30

The AccountingWEB Friday Wrap-Up Newswire - Issue 30February 18, 2000www.accountingweb.comIn the news this week:1. PWC Will Likely Split Into Three Units2. Accounting Irregularities and Fraud3. Writing Winning Sales Proposals4. ABA Still Struggling With Legal/Accounting Partnerships5. Financial Services Advisor Resource Bonanza Week6. FASB Struggles To Solve Pooling-of-Interests Question7. Tips to Avoid the Pitfalls of Website Development8.

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