News

AccountingWEB Weekly News Wrap-up - Issue 16

The AccountingWEB Newswire - Issue 16November 5, 1999http://www.accountingweb.comIn the headlines this week:1. The Rumor Is True: CPA/Law Firm Is Formed2. New Independence Requirements for Auditors Approved 3. IRS Will Be Ready for Y2K (Not!)4. Congratulations, You've Got a Website. Now What?5. Workplace Violence: These Resources Can Save Lives and $$$6. Required Reading: M&A Insight from One of the Best7. Proven Ideas To Keep Paper From Burying You8.
Community News

CPA/Law Alliance Now A Reality

As reported here last week, Big 5 CPA firm Ernst & Young this week announced that it has entered into a landscape-altering alliance this week with a new DC law firm called McKee Nelson Ernst & Young LLP. This integrated professional services model has been in place in many countries around the world, but until now has never been available in this country.

"Security Audit" Helps Dispel Workplace Safety and Risk

With a growing number of daily headlines focusing on violence in the workplace, everyone wonders whether something violent can--and will--occur in their own business.Employers, too, are facing the same concerns, and are implementing various measures to allay employeee fears.
Tax

Credit as Payment Options Offered by IRS

CPAs preparing individual tax returns should advise their clients that the IRS will now provide more options for payment with credit cards and direct debit of bank accounts for the 2000 filing season.The new options expand from the IRS' previously approved rules that only applied to balances due for 1998 taxes.The expanded options will allow credit card payments for: any balances owed on 1999 returns, protected balances paid for 1999 where returns will be filed later under any extention option, and estimated payments for year

New Independence Requirements For Auditors Approved

In response to recent attacks by the SEC on perceived independence problems across the auditing profession, the AICPA today approved new objectivity requirements for auditors who audit public companies.Some of the new requirements include:Auditing firms must set up an internal computer database of restricted investments in public clients;Independence policies must be established regarding financial relationships between the company and the firm, to include the firm's benefit plans, its staff and

Concerns Over Botched ERP Installations Continues

A story published last week on AccountingWeb talked about how Gore-Tex is suing PeopleSoft and Deloitte & Touche for alleged problems with its software installation.
Practice Management

Business Travel Airfare Reductions

If you are traveling with someone else on an airline and are willing to sit separately, you could save a lot of money on the flight. Lower priced seats may be available as "singles" and may be sold out as "doubles." Be sure to ask your travel agent or airline reservationist if this is an option.

Sage Debuts two new Acuity Partner Programs

Sage Software has two new Acuity channel partner programs that should interest CPA resellers and others who currently sell Acuity solutions or want to sell them some time in the future.The Acuity "Premier Partner Program" offers higher margins and extended marketing progrmas to top Acuity resellers.In contrast, resellers can capitalize on the "Acuity Alliance Program" because it enables current MAS 90 users to maintain their existing reseller relationships by offering a simplified upgrade stream to Acuity's advanced financial and distribution solutions.
Tax

IRS Tax News Presents Mixed Bag

A recently issued Tax Report from the IRS includes topics on estate planning, taxpayer advocates, "Problem Solving Day" and other items.As of January 1, the effective exclusion from Federal estate taxes rises to $675,000, and is expected to increase to $1 million as of 2006.

Effective Communications Leads to Results

How well do you communicate with your employees, boss or others in the office?Talk is cheap, but it should come as no surprise that effective communications is the backbone of every successful business, not only for consistent feedback, but for a two-way dialogue as well.Feedback between peers and others does several things. First, it mixes praise with constructive criticism about a specific project or activity.

Required Reading For M&A Advisors

Anyone who has bought 40 companies in six years ought to know something about mergers, acquisitions and the why/how of making the purchase.Look no further than Cisco Systems' President CEO John Chambers who has made a tremendous impact on both Cisco and the high-tech world since he took over the company in 1991.

Business Traveler: Concierge may be Unreliable Source

That next savvy business dinner could be disastrous based on the concierge recommendation!You're in a new city on business with no clue where to take your client for dinner, or perhaps you just want to have a quiet dinner on your own. Like most other travelers at better hotels, you turn to the concierge for help.Although a good source of information, the concierge recommendation at a better restaurant may not be what it's cracked up to be because he or she has been influenced through free meals, commissions or other incentives from the named restaurant.Surprising, but true.
Technology

Internet Appliances Emerge Without Windows OS

Imagine a computer without a Windows operating system (OS), and you either think of the new Linux or something totally random built in some far-away, little-seen garage or basement.The gauntlet has been thrown down, and in an effort to take away market share from Microsoft, other well-known computer vendors, including Gateway, Dell and Compaq, are reportedly beginning to build "appliances" that will deliver the Internet without relying on the Windows operating system.Think of the po

Perks and Benefits Attract Qualified Staff

Attracting and recruiting in today's tight job market is indeed a trick. No sooner do you make an offer than the candidate is snatched up by a competing firm offering greener pastures with increased benefits or other attractive perks.Small firms and businesses have found a way to compete with the rest of the pack by going through brokers to obtain top benefits without breaking the bank. In fact, many times simply passing along the benefits to employees is accomplished at no charge.No doubt you'll have medical insurance and other traditional benefits.
Technology

Web Trust Evolves: Consumer Reports Begins Evaluating Web Sites

Perhaps this is the next step in the much-discussed WebTrust program that enables CPAs to verify the security of e-commerce Web sites.Consumer Reports has announced it will begin evaluating Web sites in much the same way the magazine always has been a primary source of consumer information for hard goods. The observations will be listed on Consumer Reports Online.Consumer Reports also will verify security much in the way WebTrust does.
Tax

Will Equipment Inventory Prevent IRS Y2K Readiness?

The IRS may not be ready for Y2K as previously planned, according to a recent letter addressed to House Ways and Means Committee Chair Bill Archer.Problems include equipment and software that may not be Y2K ready at offices around the country. The agency says it has contingency plans in place, but in the event the IRS is not ready for the new year, the agency reports it could end up manually issuing some tax refunds.If it came to this, IRS Commissioner Charles Rossotti said that manual refunds would be issued to taxpayers who are most in need of funds.
Community News

New Andersen Consulting CEO Renews Firm Focus

E-commerce will be the central focus for Andersen Consulting (AC), according to Joe W. Forehand, who was just named chief executive to replace former chairman George T. Shaheen. The announcement was made Monday.The firm also will concentrate on taking a greater financial interest in its own client base.
Technology

Why Web Sites Fail

Now that your firm has an online presence, you may think it’s time to sit back and watch the prospects roll in. Think again. Your marketing efforts are more important than ever.According to the Ecom Advisors, the biggest problem with web sites is unrealistic expectations. They say that businesses think if they spend $100, they will earn $150 the next quarter. They caution owners that it doesn’t work that way; you may not see results for 12 to 24 months.The reason sites fail is equally as simple.
Tax

Say Goodbye to the IRS Restaurant Audit

A kindler, gentler IRS? Possibly.The Internal Revenue Service has announced it will no longer audit restaurants as long as establishments comply with the tax laws associated with tip reporting, regardless if wait persons actually are cheating on their own reporting of tips.In exchange, the IRS says it will target the wait persons themselves, who must report any tips received totaling over $20 a month. The losses are staggering, according to industry sources.

Better Seating Leads to Higher Profits

How ergonimically sound are your office chairs? Do you find people you work with complaining of back problems because they sit too long in poorly designed seating?You could be losing a lot in terms of time and money if you don't pay attention to this important health topic. It is estimated that repetitive-motion injuries cost U.S. businesses $100 million annually in lost productivity, and untold more in workers compensation costs.On today's market, there are now many sources for chairs that make sense for you and your staff, but be prepared to pay more for the best seating.

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