News

3rd Quarter Earnings Expected High for Selected Industries

CPAs either employed by, or working in, energy, financial and technology companies will want to take note: analysts predict earnings in these three industries are expected to hit a four and one-half year high at the end of 3rd quarter 1999.Overall, companies in the Standard & Poor's 500 will grow earnings by 22 percent. Although it may seem that analysts sometimes use crystal balls to foretell earnings potential, there are definitive reasons for the increases.
Practice Management

CPAs Can Brush Up on Tax Strategies for Small Business Owners

In today's accounting marketplace, more and more CPAs and other professionals are getting further and further away from taxation and advise strategies for the small business owner.Some end-of-year tax planning will indeed help any situation, be it that of the CPA or a client. For example, by gathering together last year's tax statement, along with a projection of 1999, you can adequately take a look at where you may or may not be headed regarding the 1999 tax bill.Some strategies for small business boil down to the calendar itself, such as sending out invoices after Jan.

Fed Says "No" to Raising Interest Rates

For the time being, short-term interest rates will remain the same at 5.25 percent. In a much anticipated announcement, the Federal Reserve Bank said Tuesday that, although it would not raise rates, it indicated that rates may indeed rise should inflation occur.Also unchanged was the discount rate, which will remain at 4.75 percent. The discount rate is used by the Federal Reserve's 12 district banks who provide direct loans to banks and financial institutions.Should rates have risen, this would have been the third time in 1999.

MCI WorldCom, Sprint Merge

As reported here last week, MCI WorldCom Inc. and Sprint Corp. have concluded a deal to combine forces in the largest merger ever. The stock exchange is valued at $115 billion – $129 billion including debt. The new corporation will be called WorldCom.To make the deal more attractive to its investors, MCI said it would put cost saving strategies in place.
A&A

MSAs – Gold Mine Or Shaft?

Republicans and Democrats are dueling over the experimental tax-free Medical Savings Accounts (MSA) this week. Republican leaders will propose legislation that would make MSAs available to all Americans.MSAs were designed to help people set aside money to pay for routine medical bills and the premium for a high-deductible insurance policy. MSAs have insured those who would otherwise not be able to afford health insurance.
Technology

Another Big 5 Exec Lured To the Internet

Hot on the heels of Andersen Consulting CEO George Shaheen's retirement to head up Internet startup Webvan, Jeffrey Hirschberg today announced his retirement as Vice Chairman of Ernst & Young to become a director of visitalk.com, a web-based telecommunications start up company.At visitalk, Hirschberg's role will be to help facilitate the company's attempt to build a global directory that allows online voice and video calling.
Technology

Internet Taxation Panel May Delay Report

Following up on a story we published last month, it appears as if the Congressionally appointed Advisory Commission on Electronic Commerce may not complete its much anticipated report in April 2000, as originally expected.The U.S. Senate's primary sponsor of the panel, Sen.
Technology

GAO Issues Report on Risks in Computer Networks

Overprotective or not, the General Accounting Office today issued a report citing the unstable environment associated with computer networks and the associated fallout related to national defense, taxation, law enforcement and air traffic control.Part of the report focused on statistics compounded by the risky networks, including the number of times the federally funded emergency response team at Carnegie Melon University's CERT Coordination Center responded to security problems.

Conducting Business in the Air no Longer a Problem

How many times have you been airborne and felt the frustration of "dead" time? Sure, you're using your laptop, but what about that ever-important cellular phone?Heretofore prohibited, British Telecommunications, owners of the Skyphone Mobile Connect service, just announced that it is paving the way to enable passengers to use mobile phones to talk, use the Web to conduct business and even send e-mails while flying.Through innovations in telecommunications, calls would be sent to mobile phones located on the seat backs in front of the passengers.
Technology

IBM Joins Apple and Others in Adding Color to its Hardware Palette

Color is the key with IBM ThinkPad I-Series 1400 notebooks. Purchasers will soon have a choice between seven covers that snap on to the notebook computers. Colors range from a metallic green to the corporate "big blue."This particular line of notebook computers is only 12 months old, but IBM believes the color choices add to the personalization associated with today's computing needs.

The Venerable 401(k): A Last Ditch Resort to Obtaining Cash

Everyone knows that regular, planned donations to a 401(k) set up by your employer reaps tremendous financial rewards in the long run, especially in a scenario in which an employer matches donations. But should a 401(k) be used as a way to make ends meet should you have a rainy day?Experts say no. Last year, nearly 10 percent of America's employees who regularly donated to their 401(k) obtained loans from their plans, borrowing just over $18 billion last year for an average loan of $7,600.
Practice Management

Donations Good for Business and Goodwill

CPAs and accounting professionals try to teach their clients and employers each year the value of charitable donations and the tax breaks associated with regular giving programs. But what about applying some of this philosophy to their own businesses-as well as some of the intangible benefits, like reputation management?Each year, millions of businesses donate to charities and find themselves in a better position, not only from a tax standpoint, but in self-promotions as well.

Online Workshops Added

AccountingWEB has launched an online workshop series inviting visitors to participate in online chats with topic experts. The series begins October 12 with a session on selling professional services with Maura Schrier-Fleming, President of Strategic Selling, Inc. Check the workshop schedule and be sure to join us on line!
Technology

Delays For Windows 2000

Microsoft promised Windows 2000 and a whole lot more, but hasn’t delivered – yet. Microsoft announced a new release date in November which means many IT professionals may not get the new operating system until January. So much for ringing in Y2K with Windows 2000.Beta testers of the software complain that the ongoing delays have affected their maintenance plans and their budgets. For example, one company budgeted training money for the new operating system for a certain quarter.
Practice Management

Meeting Madness

I’ve spent almost a quarter of my waking business life in meetings. If you are doing business in corporate America, I’d bet that you are being “meetinged to death,” too. Meetings aren’t bad, though. They are somewhat necessary. However, bad meetings aren’t necessary at all. Ever been to a meeting where the facilitator didn’t know what he/she wanted to accomplish? “Yes!” I understand.

AccountingWEB Weekly News Wrap-up - Issue 11

============================================================== The AccountingWEB Newswire - Issue 11 October 1, 1999 http://www.accountingweb.com============================================================== In the headlines this week:1. Controlling Internet Access Within A CPA Firm2. Help Is Available on Sec 529 Qualified State Tuition Programs 3. Help Your Clients Understand Security Issues of E-Commerce4.

Ryan Carmen Joins As Business Development Director

Ryan Carmen joins the staff as Business Development Director for AccountingWEB. Ryan's role will be helping to build the subscriber base, as well as working with vendors and suppliers to establish marketing relationships. Welcome aboard Ryan!

What You Don’t Say and What You’re Saying

Nonverbal Communication and SellingYou walk into your prospect’s office, you open your attaché and unfortunately everything spills out. Not a word was said, or was it? The impact of communication comes from both the verbal and nonverbal. The verbal is what we say and its impact on communication is 7 percent. The nonverbal is how we say it (38 percent impact) and how we look saying it (55 percent impact). Nonverbal communication is sending and receiving messages without words. We’re all familiar with the meaning of the thumbs up signal. That’s nonverbal communication.

Visa International Reorganizes

Visa International promises a kinder, gentler service attitude for banks. This comes after the large corporate giant was blasted for not giving bank owners “autonomy.” Visa reorganizes this month to better serve clients.Citigroup Inc. sent a strong message earlier this year to the credit card company. The number one financial services company pulled business away from Visa and sent it packing to MasterCard. The reason?
Technology

New Internet Job Sites Offer More

Employers looking to snag twenty-somethings know they have to look at the Internet to get in front of these technology-driven whiz kids. The good news is that today it could cost a lot less.A few years ago, a leading job search site like monster.com was the only place to go. Today, so-called “second generation” job search sites are offering more services at a lower cost. Capitalism is alive and well on the Net today.Veteran job search sites charge companies more than $200 for a job listing; new sites charge as little as $39.

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