News

A&A

Chicago Exchange Approves After Hours Trading

The Chicago Stock Exchange has become the first exchange to approve after-hours trading for institutional and individual investors. This move comes as other exchanges across the country work to extend stock trading into the late evening and early morning hours. The nation's third largest stock market said it plans to add two extra hours of trading. Pending regulatory approval, it hopes to add the extra hours Oct.

Japanese Banks Announce Alliance

Share prices soared on the Tokyo Stock Exchange Friday after three Japanese banks announced an alliance that would create the world's largest banking group.

Increase in Federal Reserve Rates Likely

When the Federal Reserve meets on Tuesday, Aug.

Auditors Say Savings By Gore's Project Were Overstated

Some of the cost savings claimed by Vice President Al Gore's project to streamline government were overstated, and other cuts in expenses can't be substantiated, according to auditors who looked at changes in three agencies.According to the General Accounting Office, Gore's "reinventing government" project claimed $21.8 billion in savings in which the project lacked evidence to support, inflated savings by double-counting cost cuts, and took credit for savings that may have been the result of other efforts to cut government bureaucracy.Project officials also neglected to take into accoun
Technology

New Software Program Integrates Electronic Workpaper and Trial Balance Software on Microsoft Platforms

This week, ePace! Software announced the release of its new software package called ePace! Engagement, the accounting industry's first integrated software package to combine both engagement management and trial balance capabilities into one solution.The new product also is the first software of its kind to be built completely on Microsoft Word and Excel. ePace!
A&A

Datek Online Is First To Provide Customers With Instant Answers

Datek Online, an online brokerage pioneer, introduced "Ask Datek" - a new service that give customers instant access to answers for Datek-related questions. Datek is the first online brokerage firm to offer the intuitive type of answering service that allows customers to ask questions in natural language.

Research Puts Citigroup On Top Of Global Leader List

As financial institutions strive to gain market share through mergers and acquisitions, the question remains, "Which one will emerge as the global banking leader?" According to a survey report just released by Total Research Corporation, Citigroup is the only bank that is seen as a millenium leader.Survey respondents, who included leading investment professionals, gave Citigroup high marks in categories such as future growth, investment track record, quality of management, customer focus, responsibility to the

AccountingWEB Weekly News Wrap-up - Issue 5

============================================================== The AccountingWEB Newswire - Issue 5 August 19, 1999 http://www.accountingweb.com============================================================== In the headlines this week:1. New Accounting Firm Association is Formed2. Consolidation of Firms Is Threatened By SEC Review3. New SSA Report Provides Consulting Opportunity 4.
Practice

Some Hints For Client Retention

You've heard the saying, "For every $5 dollars spent earning a new client it only takes $1 dollar to retain one." But what does that mean? It means it's smarter to keep the clients you've got happy (and sell more services to them) than to continue acquiring new clients to replace the old clients walking out the door. So, why do clients leave? Fortunately, they usually don't leave due to lack of technical proficiency.
Technology

Internet Advertising Revenues for First Quarter of 1999 Double First Quarter 1998

Internet advertising revenue reached $693 million for the first quarter of 1999 - almost doubling the $351 million reported for the first quarter 1998, according to the Internet Advertising Bureau's (IAB) Internet Ad Revenue Report.

"Leading Edge Alliance" Association Formed

Nineteen of the USA's top local and regional independent CPA firms have banded together to form a new accounting firm association, called The Leading Edge Alliance, representing over $225 million in annual revenues.

Less Than Half of Major Firms Expect Full Year 2000 Compliance by Year's End

Fewer than half - 48 percent - of the largest U.S. companies anticipate all of their critical systems to be Year 2000 compliant, according to a recent survey conducted by Cap Gemini America, a leading information technology and management consulting firm. Eighteen percent - one in five companies - report that 75 percent or less of their critical systems will be completely tested and compliant by December 31, 1999. Thirty-six percent expect between 76 and 99 percent to be ready for Year 2000.

Starting Pay For New Grads Increases

Surprise! Starting pay for new grads is up. But wait, there's good news. They aren't seeing the double-digit increases that 1998 brought. The highest increase in 1999 was 7.9 percent, according to the July version of the Salary Survey from the National Association of Colleges and Employers (NACE).The largest increase this year went to marketing and management graduates - starting salaries grew to an average of $31,542.

Alta Vista Joins Free Internet Service Providers

AltaVista decided last week to offer free dial-up internet access program that offers members email and unlimited Internet access. AltaVista joins other Internet Service Providers (ISP) like NetZero, Inc., Surfree.com, and Tritium Networks in the free ISP market.What's the catch? The free service requires users to watch a constant stream of ads while online.
Technology

Keyboard Help For Non-Techies

Do you ever wonder what the F4 key does on your keyboard? Or what that symbol is between the Ctrl and Alt key on your keyboard?

New Directory Tracks Booming Consulting Industry

Hot off the presses is the Directory of Management Consultants 2000, which tracks the incredible growth of the management consulting industry featuring profiles of 1,891 consulting firms and listings of 7,658 key principals in 98 industries and 118 services offered.Kennedy Information, publisher of the directory, reports that the use of consultants has increased due to the pace of business change combined with the 'performance now' corporate mantra.

Another Top 100 Firm Set To Merge

From the Mergers and Alliances column this week...Seattle based Moss Adams (16 offices, 110 partners, ranked #88) announced today that it will merge in Portland based Yergen and Meyer (7 offices, 22 partners, ranked #18) on September 1, 1999 pending the results of a vote later this month.Both firms have significant practices in construction, health care, not for profits, and state and local government agencies.The two firms had competed in several common markets (Portland, Eugene, and Medford, OR, and Seattle/Belle

New Social Security Report Provides Great Consulting Opportunity

Beginning October 1, 1999, the Social Security Administration will automatically send out annual social security statements to every worker above age 25.These redesigned statements will include all the same information as the ones you used to request from the Administration, but will be more concise and easier to read.CONSULTING OPPORTUNITY!!! Every worker over age 25 will automatically receive his or her annual statement approximately 3 months before his birthday.
Technology

Train Your Staff - And Yourself - on Using The Net

All of us can use some extra help understanding the Internet. If you want some quick and easy tutorials, but don't want to go to a class or, more commonly, are too embarrassed to tell someone you don't know how to do something on the Internet, check out www.learnthenet.com. This site teaches beginners how to surf the Web, post to news groups, configure email, run searches, and more. So have fun with it in the privacy of your own desktop. And impress your staff and partners with how much you've learned!

On Line Advertisers To Spend $33 Billion by 2004

Ad revenues are projected to hit $33 billion worldwide by 2004 as advertisers scramble to strengthen their ad campaigns and marketing efforts via the Internet, according to the latest report by Forrester Research, Inc. A full one third of that $33 billion will come from outside the United States, the firm reports.Currently online spending in the U.S. is $2.8 billion. That figure is expected to increase to $22 billion by 2004, Forrester predicts - a 685.7 percent increase.

Pages