News

AccountingWEB Weekly News Wrap-up - Issue 15

The AccountingWEB Newswire - Issue 15 October 29, 1999 http://www.accountingweb.comIn the headlines this week:1. PWC To Lay Off 1000 Administrative Staff2. The Line Between CPA and Legal Professions Continues to Blur3. (Unfortunately Not) The Final Word on Computer Viruses4. Association Helps Modernize The Chinese Accounting Profession5. Working With Generation X6.

E-mail Resumes Receive Greater Attention

Who isn't in a hurry these days? With technology innovations like e-mail and the Web right at our fingertips, our time is spent learning how to be more efficient and effective via the electronic medium.One area that has taken a 180-degree turn is the resume. No longer do many job seekers send you fine documents printed on parchment paper.
Technology

Windows 2000 set for Release

Microsoft has announced a release date of February 17 for its Windows 2000 operating system catering to network and company computers. The software will be available to manufacturers by the end of 1999, enabling them to make-ready their systems by the February debut.Windows 2000 is the new operating platform that follows the company's NT product line. In fact, companies who are running NT 3.0 should know that Windows 2000 will only run on NT 4.0.
Community News

Makers of Gore-Tex sue Deloitte and PeopleSoft Over Software Installation

Well-known manufacturer W.L. Gore & Associates, makers of Gore-Tex outerwear, have filed suit against Deloitte & Touche and PeopleSoft.
Technology

Melissa-like Worm Discovered

Computer Associates International announced that a new worm-type of virus. has popped up in the Netherlands. The worm is named “Badass.”As with other global viruses, it’s only a matter of time before it reaches the U.S. This worm is similar to the devastating Melissa virus.
Practice

Working With And Retaining Generation Xers

As a Gen Xer, I can say that I don’t like being lumped into a group of people that the media has widely reported is “self absorbed,” “unwilling to pay dues, “ and “woefully lacking loyalty and work ethics.” These stereotypes do little to motivate us.As a firm that is committed to growing in the future, you will be working with Generation X. The good news is that there are a lot of really good people out there that just happen to also be Gen Xers.
Practice Management

Recovering Customization Costs

Off the shelf software tends to need extra care and handling inside professional service firms to make it do what you want it to do. Recover some of the costs of customization by reselling your new-and-improved software to other professionals who have a similar need. Where can you find a market for your enhanced software? You're looking at one right now. If you have software to sell, let us know and we'll make it available to our readers.

"Safe" Workplace has Dramatic Effect

Incorporating environmental concerns into the workplace can have a positive, long-lasting effect on the bottom line.The Environmental Protection Agency estimates that annual indoor air polution costs U.S. companies $1 billion in medical costs and $60 billion in lost productivity.

Global Accounting Association Opens Doors To China

The Affiliated Conference of Practicing Accountants (ACPA) International, an association of individual accounting and business consulting firms, announces that a groundbreaking memorandum of understanding between ACPA International and the Shaanxi Institute of CPAs has officially been signed and marks the first formal agreement between the Shaanxi Institute and any group of accounting firms from the outside world. The memo represents more than 100 firms of all sizes in China and over 80 ACPA member firms from around the world.

New Chair of AICPA Focuses on Technology and Vision

As reported last week, Robert K. Elliott has assumed the chairmanship of AICPA, effectively becoming the first chair for the 21st Century. He succeeds former chair Olivia Kirtley. The appointment was made official during AICPA's Fall Council meeting in Seattle, WA.On the top of Elliott's agenda is placing technology in the hands of the Institute's 330,000 members by demonstrating the profession's ability to adapt to an ever-changing landscape and delivery value-added services to clients and employers.
Community News

Consulting Arms of Big 5 Accounting Firms Invest in Start-Ups

These days, it seems that everyone is getting into the potentially high-profit, yet high-risk start-up arena, and the Big 5 is no exception.Just last week on October 20, AccountingWeb ran a story in which PricewaterhouseCoopers bought into Web designers Methodfive, and now it seems that Andersen Consulting has moved in a similar fashion by buying into start-up ChemConnect, the Internet's largest global chemical and plastic exchange.Analysts report that investments like these mark a r
Community News

Saga Between KPMG and Theater Group Continues

The ongoing debacle between Livent, Inc. and KPMG continued yesterday in a Toronto court when lawyers for former Livent exec Garth Drabinsky brought a suit against the Big 5 firm for conflicts of interest.CPAs will recall that Livent, producer of several well-known Broadway shows, including Phantom of the Opera and Ragtime, made the news in August 1998 when its new owners, investment banker Roy Furman and former Walt Disney executive Michael Ovitz, revealed that an internal audit had uncovered serious accounting irregularities.
Technology

Trojan Horse or Virus – Do you know the difference?

They inherit names like Melissa, Thursday and Chernobyl, but what are they? These three were viruses. Another popular cyber warfare tactic is use of a trojan horse program.Trojan horses operate by pretending to do one thing (obvious to the victim) while really doing something else (unknown to the victim). Trojan horses work because they send the victim a “gift” to keep the victim occupied while they perform their cyber terrorism.
Practice Management

Reducing Hotel Phone Charges

If you need to make several long distance calls when you get to your hotel, simply push the # key after each long distance call to disconnect. This keeps the hotel from charging you a connect fee for each long distance call.Have any $$$ Savers tips to share? Please send them to our editors and we will post them to the site. Thank you!!

E-Commerce Accountant is one of the Hottest Jobs Around

The cover story in the new issue of U.S. News & World Report focuses on the hottest jobs in 2000, and one of the most in-demand ones in the financial arena is an e-commerce accountant.Just what does an e-commerce accountant do?
Community News

Arthur Andersen and Andersen Consulting go to Court to Split Firms

Arbitration hearings began yesterday in New York for Arthur Andersen (AA) and its sister firm, Andersen Consulting (AC), to permanently make AC an independent firm.The hearings are the result of a two-year disagreement, and the latest court appearances with the International Chamber of Commerce (ICC) are expected to take up to two weeks.AC claims its sister firm violated a partnership agreement five years ago when it began a consulting services unit in direct competition against the Big 5 firm.Among those expe
Practice

Legal Eagles Nest at Ernst & Young

Remember when non-CPAs could not become owners of CPA firms? Times are changing ... and it looks as if Big 5 giants like Ernst & Young may be entering the legal arena some time soon.Getting around the system is the key, according to experts who understand that State Bar ethics rules prohibit non-practicing lawyers from owning or controlling law firms. As a result, E&Y is reportedly in negotiations with lawyers in the Washington, D.C.

Analyzing Financial Statements with Cindy Moorhead

Contact: Cindy MoorheadMoorhead Management ServiceN2304 Bina RoadCoon Valley, WI 54623608-486-4497Michael Platt: I want to thank everyone for joining us today. We are privileged to be joined by Cindy Moorhead, President of Moorhead Management Systems.Cindy will be sharing with us her ideas on helping clients understand financial statements.

Marketing Tips – Are you talking benefits?

When you present your proposal (and you need to present your proposal as opposed to faxing or couriering it so you can overcome objections), is your prospect talking price? Yes? Then you need to start talking benefits. The benefit of working with your firm over another firm is why your prospect wants to work with you. Did you ask him or her what was important when you made the initial contact call? Do you know why he/she is interviewing accounting firms?
Technology

E-Commerce Solution For The Construction Industry Released

AEC Connect is PurchasePro.com’s browser-based e-commerce solution for the architectural, engineering and construction (AEC) industry. PurchasePro.com is a leading provider of online “business-to-business marketplaces.”The new software will electronically unite architects, engineers, contractors and suppliers. Linking the parties will offer operational efficiencies.

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