News

Medical Benefit Plans Offer True Benefits

If you're a CPA or accounting professional in a small- or medium-sized firm, you know how difficult it is to attract and retain employees in today's very tight labor market.
Community News

Senators Urge 'Caution' in Letter to SEC Chairman

Several members of the Securities Subcommittee of the Senate Committee on Banking, Housing and Urban Affairs are urging Securities & Exchange Commission Chairman Arthur Levitt to extend the comment period on the non-audit services portion of the proposed rules on auditor independence until after February 1, 2001.The extension, if granted, "will allow for careful analysis of the proposed changes," according to the letter. The letter was signed by Securities Subcommittee Chairman Senator Rod Grams, and Senators Evan Bayh, Phil Gramm, Charles E. Schumer, Mike Crapo, Robert F.
Community News

PwC Chief Faces Possible Probe over Audit Violations

PricewaterhouseCoopers partners - including present CEO James Schiro - face possible investigation after a US court refused to dismiss a claim alleging that the Big Five firm had misrepresented audit independence violations at electronic manufacturing firm Emcore. A New Jersey court heard that PwC partners had allegedly held on to shares in its audit client Emcore and so delayed a public offering of the firm in early 1999.

Benefits of Phased-In Retirement Programs

A July 27 Wall Street Journal article, 'Phased Retirement Option for Workers Is Mainly a Boon for Their Employers,' generated a Web-based response from worldwide HR consultant Watson Wyatt.The Journal commented that Watson Wyatt recommended phased-in retirement as a way for companies to reduce expenses.However, Watson sees it differently.

Satellite CPE: Buying/Selling a Business

On Aug. 16, ACPEN will present a special, one-day satellite broadcast called 'The CPA's Guide to Buying and Selling Businesses'.Speakers for the day include Michael Nall, CPA, executive director of the Alliance of M&A Advisors, who says 'there are several million private businesses needing the services of CPAs and other professionals who can envision, negotiate and manage efficiently the sale and purchase of a business.

Steven E. Abraham, J.D., Ph.D.

Steven E. Abraham, J.D., Ph.D.Associate ProfessorSchool of BusinessState University of N Y at OswegoOswego, NY 13126315/341-3307 (o)315/341-5440 (fax)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).

Erin P. Mackler, CPA

SysTrust Team LeaderAmerican Institute of Certified Public AccountantErin P. Mackler, CPA, joined the AICPA’s Assurance Services Team in October 1998 as the SysTrust Team Leader. Ms. Mackler is responsible for overseeing the AICPA’s Systems Reliability Task Force in the development and implementation of the CPA SysTrust service. She works with the Task Force in crafting the SysTrust Principles and Criteria for Systems Reliability, which serves as the foundation for the SysTrust service. Ms.
Practice Management

Is Accounting the 'World's Oldest Profession'?

The following is an editorial by Paul Dunn, co-founder of Results Accountants' Systems.Come on — time to own up! Is the Profession actually the oldest Profession in the world?In every gathering of Accountants I'm asked to address, I always ask the question: "how many of us have clients we wish we didn't have?
Community News

PWC Makes Changes to Prepare for Break-up

Changes are in the air at PricewaterhouseCoopers.The world's largest accounting and consulting firm has just named Tom O'Neill as the firm's chief operating officer so that Chief Executive James Schiro can spend more time concentrating on the break-up of the firm.O'Neill currently manages the firm's operations in Canada. The most important aspect of the break-up is the impending sale of the firm's consulting practice, valued at $20 billion.
Tax

IRS Employees Caught Taking Bribes

Eavesdropping devices helped officials catch eight Chicago IRS employees were allegedly were taking bribes in exchange for offering certain taxpayers breaks on paying their income tax.The eight were placed on paid, administrative leave until further notice. While one agent was taped discussing a $25,000 payment, a source close to the Chicago Sun-Times reports that the payment actually was less than $100.At least two of the eight became informants and wore recording equipment on-site.

AccountingWEB Weekly News Wrap-up - Issue 53

The AccountingWEB Friday Wrap-Up Newswire - Issue 53July 28, 2000Logon to http://www.accountingweb.com for more resources.Don't know your Logon Membership Details?

Bruce VanHorn

Bruce VanHornBruce@vanhorn-cpa.comCountthebeans.com212-924-6146As a CPA I have been very successful in incubating a number of Technology/Internet companies through my own client base. Port.ru, a Russian internet portal which I helped start has become the largest email service in Russia with over 2m registered users and a market valuation of 80m.

Lee Walthall, Chairman & CEO, Nationtax Online

Lee Walthall is the Chairman and CEO for Birmingham, Alabama-based Nationtax Online, the only company currently offering a completely Web-based solution for business tax preparation, filing and payment in multiple local, state and federal tax jurisdictions. Nationtax holds the distinction of currently being the only private company approved by the IRS to process a federal business tax form, Form 941 (Employers Quarterly Withholding) completely over the Web.

Job Search Netiquette

This article reprinted with permission by the Financial Management Network.E-mail is by far the preferred means of communication for millions of professionals worldwide. For busy executives, it can save valuable time, particularly when seeking a new position.
A&A

Airlines, Rental Cars Reach out to Small Business

Let's face it: you're not an Arthur Andersen or MobilExxon, and you'll never be in the big leagues when it comes to purchasing power. Nevertheless, the small business traveler may go on just as many trips or rent just as many cars as the big guys, so why should they get all the perks?Changes are very much in the works across all vertical travel industries. For example, several airlines, like Delta and Northwest, have revamped their Web sites to aid the small business traveler in make all arrangements through a one-stop shopping portal.

Auditors should audit. It’s that simple.

Among Wednesday’s speakers at the Securities and Exchange hearings on auditor independence was John H. Biggs, Chairman, President, and CEO of TIAA-CREF, the Teachers Insurance and Annuity Association and College Retirement Equities Fund.TIAA-CREF manages $300 billion for its participants and invests $1.5 billion in new fixed income every month and even more in common stock. Biggs told of an incident that occurred several years ago in which his company relied on audited financial statements in making a $12 million investment.
Technology

Web-Based Accounting Services Rated and Reviewed

The Ziff-Davis Smart Business Labs rated and ranked Web-Based accounting software as part of a longer article examining the ins and outs of companies outsourcing accounting functions to a Web-based service.Accounting services reviewed include NetLedger, Flagship, Sage's MAS 90 and Intacct.

Auditors and managers have the same interests, says Yale Professor

Speaking before the Securities and Exchange Commission on Wednesday, Professor Rick Antle of the Yale School of Management indicated it is usually unreasonable to assume an auditing firm than performs non-audit services is going to compromise its audit.Antle has studied the issue of auditor independence at length and is co-author of the white paper, "An Economic Analysis of Auditor Independence for a Multi-client, Multi-service Public Accounting Firm" submitted to the Independence Standards Board (ISB) on behalf of the American Institute of Certified Public Accountants (AICPA).In an inte

XBRL Examined in Plain-Speak English

A new August 2000 Journal of Accountancy article written by Colorado CPA Wayne Harding, formerly with Great Plains, and Stanley Zarowin, a member of the JOA staff, examine XBRL and its applications to various accounting scenarios.In summary, Zarowin and Harding conclude that: XBRL, or eXtensible Business Reporting Language, will be the standard for all business reporting; the authors believe the process will be truly revolutionary. The software to enable XBRL will be built into the majority of all financial and reporting software. The software will seamless

Excel Tip: Change Excel Default Settings

If you find that every time you create an Excel worksheet you need to change settings, such as margin, number format, typeface, footer, column width, etc., and these changes are the same for each of your worksheets, you may want to simply make changes in the new worksheet defaults.To create new default settings in Excel, follow these steps:1. Open a blank workbook.2. Without entering information in the cells, make all the formatting adjustments that you want to incorporate into your future workbooks.3. Choose File, Save. The Save As window will appear.4.

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