News

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.

Does One Word From Greenspan Really Matter?

The NASDAQ soared Tuesday with news of optimism from Alan Greenspan. This is good news for the economy, especially going into the busy holiday season. How can one person control the fate of the stock market?

Ernst & Young Announces the Launch of Innovative Trend

Cap Gemini Ernst & Young has announced the launch of its Center for Enterprise Creation, a service which will assist corporations in their quest to re-purpose, leverage, and monetize assets of the new milennium such as brand, people, and customers.The Center will provide services covering all aspects of an enterprise launch including strategic planning, technology architecture, operations definition, organization design, systems development, user experience design, temporary office space, and administrative support with a co-creation mindset.The Center's goal is to assist in exploring gr
Technology

QuickBooks Now Available Online

Intuit is making its QuickBooks accounting software available online as a business service.QuickBooks for the Web is designed for "the emerging segment of entrepreneurs who want remote Internet access to simple and easy accounting" and is claimed to be "the easiest accounting software on the Web."QuickBooks for the Web, Basic Edition is available immediately for $14.95 per month, per company, for up to 20 users from www.quickbooks.com.
Community News

Justice Dept Joins Lawsuit Against KPMG

The Justice Department has joined a lawsuit alleging that KPMG helped a client defraud the American government through submitting bogus expense claims, reports the New York Times.The whistle-blower suit sees the accounting firm accused of assisting the Columbia/HCA Healthcare Corporation in misrepresenting costs associated with patient care, so as to receive payment for costs that were not eligible for reimbursement.A former Columbia employee claimed that KPMG helped some Florida hospitals owned by Columbia set up secret reserves, which were kept in case government auditors discov
Community News

McGladrey Acquires DC Firm

RSM McGladrey, Inc., a national accounting, tax and consulting firm serving mid-sized businesses, has acquired the non-attest (non-CPA) business of Washington D.C.'s Keller Bruner & Company, LLP.

Wealth Care Success for Multi-Partner CPA Firms

Wealth Care Success:Key Issues for Multi-Partner CPA Firms to ConsiderAccountingWEB Workshop Presented by:Tony Cord, of 1st Global, Inc.Tuesday, December 5, 2000Tuesday's workshop with Tony Cord of 1st Global, Inc. provided facts, empirical data, and anecdotes regarding key issues in the area of wealth care for multi-partner CPA firms to consider.

Wealth Care Success, with Tony Cord

AccountingWEB Workshop: December 5, 2000Presenter: Tony Cord, Director of National Business Development,1st Global, Inc.Session Moderator: Thank you all for joining us today. We are happy to welcome Tony Cord to the AccountingWEB workshop room.Mr. Cord has experience in both the accounting profession and the financial services industry.
Technology

Need Last Minute CPE? Let AccountingWEB Help You!

Are you scrambling to get all your needed CPE hours before 2000 ends? Check out these inexpensive on-line CPE resources. If you need assistance or have questions about CPE requirements and more, check out the AccountingWEB CPE Page. On-line training is booming in corporate America. On-line CPE costs less, and is increasingly becoming more sophisticated. There are plenty of companies providing on-line training that is cost effective and interactive at the same time.

Tim Lenneman

Tim LennemanGlobal Tax NetworkWorkshop Presenter, Thursday, December 14, 2000Workshop Topic: How to Use Online Tax Organizers in Your Tax PracticeTim Lenneman is a native of Lansing, Michigan and a graduate of Texas Tech University with a degree in Accounting. After graduating he worked for Arthur Andersen LLP in Denver. During his ten years at Andersen, he provided a wide variety of individual, corporate, and partnership tax services.
Tax

Thinking About Tax Evasion? Think Again!

Many have tried, many have failed. Those who feel it is their right not to pay income taxes often wind up in court, some pay hefty fines. But it does make for some interesting reading... Welcome to the Quatloos Cyber-Museum of Scams and Frauds! If you're thinking about a little tax evasion, take a few moments to read about what gimmicks have already been tried - no sense wasting your time with something that's already made its way through the court system.
A&A

Divorcees Vie for More Than $$$ - CPAs Take Note

What are some of the trends you're seeing in clients going through a divorce? The CPA or accounting professional's role cannot be minimized when it comes to valuing the assets in a marriage. Many CPAs counsel their clients on divorce proceedings, but lately more than the usual household items are at stake. Separating spouses are splitting up assets such as stock options, pensions, time shares and even frequent flyer miles.What's the cost of such an ordeal?

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