News

Community News

SEC's Auditor Guidelines - What all the Fuss is About

Are you still confused about all the news of the SEC proposed changes to the auditor independence requirements?

TV CPAs – A New Breed!

Now the approximately 90% of CPA exam-takers who traditionally do not pass the exam on the first go-round will have a new opportunity for study aides. Yaeger, Inc., a provider of CPA exam review material has teamed with TVWorldwide.com to launch a new web TV channel geared to the accounting profession. The thrust of the channel is to deliver Yaeger’s CPA review material in a new, easy-to-reach format.
A&A

Fall Airline Fares Slashed Dramatically

In the wake of this summer's United Airlines' debacle of cancelled flights, delays and labor shortage, the world's largest airline has cut its fares by half for travel now through Dec. 14.As of Wednesday, at least seven other airlines matched United's fares.
Tax

Tax Survey Finds Confusion Across State Lines

It seems nothing is more complicated than our nation's tax system, especially from state to state.
Community News

SEC Gives Big Five One More Day

After complaints from members of the Big Five that their responses to the auditor independence issue have not been taken seriously, Arthur Levitt, chairman of the Securities & Exchange Commission, agreed to let them have their say. Leading the pack of vocal dissenters has been Stephen G.

The Tax People Cometh

A company called the Tax People claims that it has devised a way to help members receive the lowest tax payment possible. The key is in setting up a home business focused on selling the tax relief system to others. Because of the way the business is set up, the owner can then write off nearly any activity in which he participates. From buying groceries to attending church to taking a vacation, all these activities can be written off.
Community News

KPMG Chairman's Unspoken SEC Testimony

KPMG Chairman and CEO Stephen G. Butler was scheduled to testify at the crucial SEC auditor independence hearings today, but was irritated at the skimpy amount of time that was allotted to him (30 minutes, to be shared with five other speakers), and distressed that he was not given a requested morning time slot.Mr. Butler's testimony was delivered in printed form to the SEC, and KPMG provided AccountingWEB with a copy of that testimony.As an auditor with KPMG for more than 30 years, and now as the Chairman and CEO of the company, Mr.
Community News

McGladrey & Pullen Expands Into Five Major Markets

Through the acquisition of several firms across the United States, RSM McGladrey, Inc. and McGladrey & Pullen, LLP, has expanded its accounting and consulting practice into five new major markets, including Baltimore, Kansas City, Dallas, Philadelphia and Boston.The acquisitions also expand the firm's network in New York and Chicago, and with the other five major cities, adds 850 new employees, 12 offices and more than $90 million in annual revenues.McGladrey became a subsidiary of Kansas City-based

Recruiting For Your Bottom Line

"Recruiting For Your Bottom Line: How Recruiting is just as much about Marketing as it is about Human Resources," was the workshop presented Tuesday by Tina Kersen Ferguson, marketing/human resources consultant with the one80group from Dallas, Texas.Key points in the workshop included:The myth of 'the interview'Why your team has all the recruiting answers you needWhy a bad recruiting decision can be a blessing in disguiseHow your web site can recruit 24 hours a dayWhat you c
Practice Management

Can Farmers Really Be Great Clients?

The following is an editorial by Paul Dunn, co-founder of Results Accountants' Systems.As we look around the world at great accounting practices (what we’ve called "the Practices of the New Millennium") one constant theme is the selection of clients.It’s critical, we’re often told, to select clients who you like, clients who are profitable, clients who are open to suggestions, clients who are willing to listen and so on. And farmers feature infrequently in that list for many practices.
Community News

SHOWDOWN WITH THE SEC - September 2000 Hearings

SEC Issues Final Rules on Auditor IndependenceThe SEC voted unanimously to approve new guidelines for auditors. Four of the Big Five firms acquiesced in accepting the rules, KPMG being the hold out firm that still feels the rules are unnecessary.
Community News

KPMG Chief Withdraws from SEC Hearings

KPMG chief executive Stephen Butler pulled out of today's SEC hearings because of the lack of time allowed at the stand, according to the Financial Times.Butler was allotted just 30 minutes to give his opinion on the controversial proposals, and would have had to share that time with five others.
Community News

ICAEW President Gives International Outlook on SEC Audit Rules

Graham Ward, the President of the Institute of Chartered Accountants in England and Wales, is scheduled to appear before the Securities and Exchange Commission's hearings on auditor independence in New York at 4.30pm today.
Community News

Big News in Banking: Chase Merges With J.P. Morgan

This week marks an historic milestone in banking. Chase Manhattan Bank has agreed to buy J.P. Morgan for almost $40 billion in stock.The new company, which will be known as J.P. Morgan Chase, will have assets of $675 billion and will rank third as a financial services company following Citigroup Inc. and Bank of America Corp.The buyout is attributed to being able to combine attributes of both companies as they seek a larger piece of the pie.
Community News

Second Auditor Independence Hearing Today

Members of CPA firms, representatives of the AICPA and England’s Institute of Chartered Accountants, lawyers, advisers, members of accountancy boards and CPA societies, and corporate accounting officials are gathering in New York today to present testimony before the SEC regarding the proposed limitations on auditor independence.Forty speakers representing both sides of this issue will take the podium, briefly presenting their views in hopes of supporting or swaying the opinion of Arthur Levitt, Chairman of the Securities & Exc

H-P/PwC: It’s a Done Deal!

Hewlett-Packard has agreed to purchase the consultancy practice of PricewaterhouseCoopers. According to reports by Bloomberg News, the computer giant has agreed to purchase the consulting business of PwC, the largest U.S. accounting firm.Total cost of the package: $17.5 billion. A final agreement is expected within a few weeks.

IT Alliance Focuses on 'E-Positioning' for Fall Conference

E-Positioning of firms who consult within the Internet and business continuum is the focus of the Information Technology Alliance's fall conference in Naples, FL, Oct. 25-28 at the Registry Resort.'The conference is packed with timely information, great learning opportunities in and out of the sessions, and some surprises that are just plain fun, including our new 'Do YOU want to be a Geek Billionaire Contest,' says Bruce MacBain, conference chairman and a consultant with SOFTWARE First!
Community News

PwC Assumes #1 Position in Top 100 Firms

PricewaterhouseCoopers edged out Arthur Andersen to assume the top position among the Top 100 Firms listing compiled by the Public Accounting Report.Last year's listing showed Andersen as the top producer, but due to the break-up of Andersen and Andersen Consulting, the firm fell to number five.
Technology

California Wrestles with the Internet Tax Debate

The debate over Internet legislation rages on as Gov. Gray Davis is faced with a bill passed by both houses of the Legislature in favor of making online merchants collect sales tax from California residents. The California bill, introduced by Assembly members Carole Midgen, D-San Francisco, and Dion Aroner, D-Berkeley, strives to answer the question about determining what exactly a physical presence consists of. The current tax laws require online retailers to observe the same rules that catalog merchants do.
Technology

Yahoo! and NetLedger Partner to Provide Accounting Solutions

NetLedger and Yahoo! have announced a new partnership, which will allow NetLedger to offer access to its business services through the Yahoo!® Store. Clients will be able to place orders through the Yahoo!® Store and have the information directly input into their NetLedger account. The result will be consistently updated inventory and sales data, and an easier time taking care of the accounting.Larry Ellison, chief executive officer of Oracle and chairman of NetLedger, Inc.

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