News

AccountingWEB Weekly News Wrap-up - Issue 9

The AccountingWEB Newswire - Issue 9September 16, 1999http://www.accountingweb.com============================================================== In the headlines this week:1. 50% of 401k Plan Participants Cash In Prematurely2. Workplace Training Tools To Reduce HR Suits3. WGL Develops On-Line Corporate Finance Network4. Republican Tax Bill To Be Vetoed5. Ascension of Women into Partner Ranks is Slow But Steady6. Marketing Plan Guidelines You Can Use7.
Practice Management

HR Exec Magazine Selects Top Training Tools

Looking for some useful workplace legal training products for your organization?

August Retail Sales Beat Economists' Forecasts

A report issued by the Commerce Department Tuesday revealed good news for the U.S. economy, but may lead to another hike in interest rates later this year.The government said that retail sales increased 1.2 percent in August, the strongest sales gain since February 1999. Analysts had forecasted a 0.8 percent increase for August.Auto sales took the lead and increased 2.5 percent. New car sales are now up 19 percent compared to August 1998.
Tax

IRS Issues Applicable Federal Rates Revenue Ruling

The IRS has issued revenue ruling 99-37 for Section 1274, Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property. The guidance will appear in Internal Revenue Bulletin 1999-36 dated September 6, 1999.Revenue ruling 99-37 provides prescribed rates for federal income tax purposes. These rates are for September 1999. Five tables are included in the revision.

Swiss Bank Strengthens its Position as World's Largest Asset Manager

Union Bank of Switzerland (UBS) has made a move to strengthen its position as the world's largest asset manager by agreeing to acquire independent money manager Global Asset Management (GAM). Reports indicate USB will purchase GAM for as much as $675 million.
Technology

Ernst & Young Issues White Paper Focusing on E-Commerce Strategy

What type of e-commerce strategy does your company need to move its Internet presence from basic to highly profitable?
Technology

Timberline Publishes First Biztalk Compatible Schemas

Newly available software links construction companies to project suppliers, subcontractors, owners and other construction players, allowing cost estimate information to flow freely along the Internet.Construction companies can now harness the power of the Internet with two new schemas for construction estimating created by Timberline Software Corporation.

WORLDWIDE MEETING SERIES LAUNCHED TODAY

Today, at The Ritz-Carlton Millenia Singapore, the first session of a new meeting series to improve international financial disclosure will be held.
A&A

More Than 50 Percent of 401(k) Plan Participants Cash In

A new study by Hewitt Associates, a global management consulting firm, reveals an alarming trend among 401(k) plan participants changing jobs. Could the results be an avenue for you to add value for your existing client base or offer more services in your compensation and benefits consulting practice?The study shows that 57 percent of 401(k) plan participants cash out at the door when they leave an employer instead of rolling over the balance to their new employers' plans or IRAs.
Technology

Powerful Tool Now Available For Finance Professionals

For accounting professionals working as a company's Chief Financial Officer, the offering of services provided in the new and improved Thomson Corporate Finance's WG&L Corporate Finance Network may prove to be a powerful resource tool. But could this new resource be another "Turbo Tax" for accounting services offered by accounting firms?The new web network offers interactive checklists that guide professionals through key activities such as SEC filings, merger and acquisition investigations, forecasting cash flow, and maximizing collections.

Female Execs Call for Increased Amenities in Hotels and Airlines

Female executives make up 40 percent of business travelers, and in an effort to find ways to cater to this expanded audience, hotels, airlines and other service businesses are instituting many changes to traditional services that have, for years, been geared to men.According to a survey released in September by New York University and Wyndham Hotels and Resorts, female executives want and desire more services amenities.
Practice

Advisory Boards Increase Ideas and Cost Next to Nothing

CPAs working in small- to medium-size practices and other endeavors essentially are working in the small business arena. Money and time can often be tight, especially when the company or firm isn't billing time or selling a product.One way to increase ideas, brainstorm solutions and throw ideas back and forth is to form an advisory board.Advisory boards cost nothing, and unlike boards of directors, are not held legally or financially accountable for the company's outcome.
Community News

Revenge for Stockholders: Lawsuits for the Big 5?

Deep pockets sometimes spell deep payback … and there may be no end in sight. Litigation was filed last week on behalf of Source Media shareholders against the Dallas office of Ernst & Young in what shareholders claim is negligence on E&Y's part in failing to find fault with Source's books.The suit is based on a negative turn in earnings that brought stock prices down. Stockholders found fault with E&Y because they say the Big 5 firm should have warned Source and its owners.

Charitable Remainder Trusts are a Solid Alternative in Estate Planning

CPAs and other accounting professionals who are familiar with estate planning can speak to the virtues of the CRT, or charitable remainder trust. In addition to the kindness shown by donating to worthy causes, the CRT is a nifty vehicle that combines large tax incentives with charitable donations upon a person’s death.The CRT allows the charitable beneficiaries to avoid capital gains taxes because of the trusts’ exempt tax structure, and is a good arrangement for investors whose assets have high appreciated value on a low cost basis.

Financial Preparation Could Enable Second Career

The Secret Life of Walter Mitty? Hardly, but in reality, many of us who want to start a second career can do so with careful financial planning and of course, the motivation to do so.According to a Wall Street Journal/ABC News poll, half of all working Americans would choose a different career if they had the opportunity.
Practice

The Rent vs. Buy Scenario for Office Furniture

Cars are leased, and in many cases, makes more sense than purchasing, so why not lease other items too—like furniture? There are inherent advantages in renting furniture versus buying it, and in the world of accounting, it very much may make sense to consider the rental alternative.Many practices are seasonal in nature—and the arrival of tax season often brings temporary staff. As a result, renting office furniture enables a practice to preserve capital by minimizing upfront expenses.
Practice Management

Develop A Marketing Plan That Works - Part 2

You now know what a marketing plan is and isn’t. Let’s get started!A marketing plan is your map to results. To use any map, you first must figure out where you are now and where you want to go.Where are you now?? Define who you are as a firm. How have you positioned your firm in the marketplace? Are you the “nice” accountants? Are you the “different” accountants?? What is your firm’s business philosophy or approach to business?? What are your firm’s competitive strengths and weaknesses??
Community News

E&Y Wins First "ProductivityPlus" Award

Can you learn from the past employee retention mistakes ofErnst & Young?The Big 5 firm recently was recognized by Business & Health magazine for ongoing programs that "help employees balance personal and professional responsibilities." The ProductivityPlus Award focuses on how an employer contributes to the health of the workplace they create.E&Y established an Office for Rentention in 1996.

ExSTRM* Vision Alert: September 10, 1999

ExSTRM* Vision Alert: September 10, 1999...YOUR connection to information technology in the CPA/Accounting Firm marketplace.We found an easy (and FREE) way to boost visibility of your web site and get a decent technical evaluation that we wanted to share with you. Submit-it is a service that will place your web site on the most popular search engines to help you get noticed.
Technology

Test The Way Your Email Looks

Do you ever wonder what your email looks like to a recipient? Is the format right? Does it contain all those #@%*! email tags at the bottom? To test your email, compose a short message and mail it to test-format@allrealgood.com. Once sent, go to http://www.allrealgood.com/format.txt to see your message on display (If you don't see it, hit reload or refresh on your browser).

Pages