News

PwC Fights Back

Media reports have indicated that the SEC alerted 52 of PricewaterhouseCoopers’ (PwC) clients about independence infractions that could affect the integrity of financial statements issued by the Big 5 firm.

AccountingWEB Weekly News Wrap-up - Issue 31

The AccountingWEB Friday Wrap-Up Newswire - Issue 31February 25, 2000http://www.accountingweb.comIn the news this week:1. More Online Troubles For H&R Block2. Solving Employee Internet Abuse3. Steve Jobs Flies High; CPAs Disagree On Bonus Classification4. First FAS 133 Compliant System Hits The Market5. Top Ten Ways To Protect Your Website -- and Your Clients'6.
Technology

Software Tip: Uncover The Secrets of Microsoft Office

You've got to hand it to the folks at PC World who are always looking for new ways to improve the efficiency of today's modern Microsoft Office software user. Follow the link below to review their list of the "Top Ten Office Features You Don't Use (But Probably Should). It's worth a look, and you might even learn something. Go to the pcworld.com page.

Press Releases Trade Secrets

I just had to giggle when I attended a recent “Meet the Press” meeting in my large metropolitan city. There were lots of “do this, but don’t do thats" floating around the room. If anything came out loud and clear it was that reporters are busy. I know that’s not news to you or me – after all we are busy too – but reporters are living in a warp-speed world. They are living in the Internet world where time goes seven times faster than for those of us on the ground.

'Short' Surveys at Colorado CPA Society

All of us can learn a lesson on how to survey members, clients, staff and others via the Internet by taking a look at some of the useful, fun ways to accomplish this often burdensome task.Why not have a bit of fun and learn something useful at the same time?The Colorado Society of CPAs conducts online surveys, called "Survey Shorts" through its home page, featuring a pair of red polka-dot boxer shorts as a link to the survey.The current survey is designed to inform Society staff on how well the organization delivers information on CPE to membe
Community News

PWC Troubles Continue: Compaq Leaves

Texas-based Compaq Computers has left auditor PricewaterhouseCoopers, and have gone with Ernst & Young, although Compaq reports there never were any problems in having PWC as its auditor.Compaq reportedly was asked by the Securities and Exchange Commission to change auditors, based on the ongoing investigation of independence issues within the halls of PWC.While the SEC requested the change, Compaq's board of directors also decided to change auditors based on what the company refers to as "the principle of independence."There is no indication at thi

CPAs Fight for Hunger in Washington State

An CPA-related effort across the state of Washington will help fill the shelves of food banks from now until April 15.Called "Operation Can Hunger," the Washington Society of CPAs is encouraging its chapter members to solicit non-perishable food items and cash from their clients while they are performing tax services.The Society capitalized on this effort after realizing that food banks typically have fewer supplies after the first of the year due to dwindling contributions.

Deltek Releases GCS Premier™ — A Comprehensive Accounting Solution Designed for Small to Mid-Sized Government Contractors

New Solution Features Built-in Compliance with Defense Contract Audit Agency and FAR Requirements McLean, Virginia – February 24, 2000 – Deltek® Systems, Inc. (NASDAQ: DLTK) (www.deltek.com). Deltek Systems today announced the general release of GCS Premier™, a comprehensive DCAA and FAR compliant project and financial accounting solution especially designed for small to mid-sized government contractors.

Tax Cut Implications from Capitol Hill

The fight is on (again) in Washington, D.C. as Republicans rally to invoke a 10-year, $182 billion tax cut.Among the issues addressed is the often-discussed Internet tax, a tax on goods and services sold over the 'Net.
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.

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