News

Technology

Regions Outside of the U.S. Have Greatest E-Commerce Potential

Regions located outside of the United States have the greatest potential for e-commerce growth according to research conducted by International Data Corp. (IDC). The IDC Report revealed that nearly 60 percent of the world’s online audience is located outside of the United States, with this group expected to generate almost 46 percent of global Internet spending by 2003.IDC’s research showed that e-commerce is strong in Western Europe where the adoption of the Euro is said to be increasing Internet sales.
Technology

Internet Tax Study Raises More Questions Than Answers

Should products sold over the Internet be tax-free? This question is the focus of an Internet tax study assigned to a 19-member U.S. panel named by Congress. Under a 1998 "cyberlaw," a three-year tax reprieve was set for new state and local Internet taxation to give the panel time to produce the in-depth study.But obtaining funding for the study seems to be as cumbersome as finding an answer to the initial question.
Tax

Tax Code Change Could Alter the way Taxpayers Donate Money

Although President Clinton has said he will veto the bill recently passed by Congress that contains a new tax code for charitable donations, the spirit of this provision deserves attention since it is expected to live even if the bill should die. The provision in the Bill set before Clinton gives IRA owners, over age 70 1/2, the ability to donate all or part of their account funds to charity while they are alive.
Technology

Internet Explorer Contains Security Hole

Watch out for Internet Explorer's security bugs! Internet Explorer 5.0 (IE 5) possesses some security gaps that allows unscrupulous web sites to read or transfer a file from your hard drive to its server.The security hole allows websites to include an activeX control called DHTML edit control. The control must know the name of the file it will transfer from your hard drive, but standard files are usually used to store private PGP keys, passwords, and other sensitive information.The bug also allows transaction spoofing.
A&A

"Night Traders" is Newest Phenomenon in Online Trading

Can 24/7 stock trading be too far into the future? With a move towards convenience and flexibility, Discover Brokerage Direct and Dreyfus Brokerage Services recently announced a new, joint service enabling customers to trade stocks after 4 p.m., ET—the time known as the traditional close of the U.S. Stock Market.Called MarketXT, an initial 142 stock trading orders worth $3.5 million were executed as of Wednesday evening.
Technology

Windows 2000 Should Ship Year-End; Microsoft to Spend $3.8 Billion on R&D

During the Dell DirectConnect conference this week, Microsoft chairman and CEO Bill Gates told 1,200 managers he believed Windows 2000 will ship by the end of the year. Gates also reported that Microsoft will spend $3.8 billion this year on research and development endeavors.Gates said the tie-in with Austin-based Dell Computer Corporation starts with the two companies' efforts to change the traditional way work is accomplished by employing a paperless and efficient work environment.

Easing Economic Growth Reported for Solid Third Quarter

Good news for the economy: the U.S. Commerce Department reported today that U.S. economic output increased 1.8 percent in the second quarter of 1999. The increase is due, in part, to the rise in imports and smaller business inventories. Although these figures were down from the 2.3 percent first reported last month, they remained in line with the expectations of economists.
Tax

IRS Issues Alternate ID Numbers For Tax Practitioners

A new Internal Revenue Service form will allow paid tax preparers to request an alternative identification number for use on the returns and refund claims they prepare after 1999.

AccountingWEB Weekly News Wrap-up - Issue 6

============================================================== The AccountingWEB Newswire - Issue 6 August 26, 1999 http://www.accountingweb.com============================================================== In the headlines this week:1. AICPA Endorses New Accounting Educational Framework2. Century Business Services, Inc. Continues To Expand3. New Mentoring Program For African American Professionals4.
Technology

AOL Offering Subscription-Free Internet Service in Britain

Upon launching its new Internet service called Netscape Online in Britain, AOL Europe made headlines when it warned its rivals to be aware of the new competition caused by the new, subscription-free online product.AOL Europe is a joint venture between America Online Inc. and Germany's Bertelsmann AG.

Banks Focus on Psychological Aspect of Y2K Concerns

While the banking industry scrambles to ensure the Y2K bug is an insignificant worry come Jan. 1, 2000, the psychological aspects connected with Y2K are now surfacing as a valid concern.First and foremost in discussions are automated teller machines (ATM), which have created worry among banking customers because they are one of the most commonly used technology-related banking symbols.
Technology

ACCA Accuses Business Software Alliance of Intimidating Small Business

The Association of Chartered Certified Accountants (ACCA)has taken the unusual step of advising small companies to throw away a threatening letter from an organization representing some of the world's biggest software companies.
Practice Management

Report Finds Customer Relationship Management Growing Practice For IT

A report released today by the Aberdeen Group finds that Customer Relationship Management (CRM) is one of the major growth areas for information technology professional services firms.CRM is second only to e-commerce in the fastest growing practice area in the industry, according to the report, A Guide to Customer Relationship Management Professional Services: 1999 Edition.The report provides descriptions of CRM services and associated IT companies.
Technology

Solution To Address FAS Statement No. 133 Announced Today

Companies can now interpret and comply with FinancialAccounting Standards Board Statement No. 133 (FAS 133) withthe first available enterprise treasury solution.PeopleSoft will deliver its PeopleSoft Treasury Management the second quarter of 2000. The software package is a comprehensive solution enabling organizations to track, manage and report derivatives and related hedged items.FAS 133 applies to all entities and to all type ofderivatives and is effective for all fiscal quarters offiscal years beginning after June 15, 2000.
Technology

Program Helps Accountants Advise Clients and Connect to the Internet

Get up-to-date information on the latest product releases and new services with this new program. But wait! That's not all…Peachtree software announced today the availability of an exclusive program for public accountants.
Technology

Employers Find Help For Hiring Risks

The number of lawsuits associated with hiring new employees is increasing at an incredible rate and now accounts for more than one in 10 employment suits in the United States.
Technology

Watch for Possible Y2K Bug in Excel Software

PC Week reports this week that a Boston-based technology management consulting company has found that an Excel year 2000 error causing drastic math errors went undetected by a handful of Y2K analysis tools.Unless users of Microsoft Excel download scanning tools from the company's Web site, their spreadsheets could go haywire when they open their files on at New Years Day.
Technology

AOL Releases New Instant Messenger Software

America Online Inc. released a new version of its Instant Messaging software that includes features like stock tickers and graphics transfers. The new version of AOL's service, now available for download, allows users to watch continuously updated news and stock quotes and choose a screen name up to 16 characters in length. The company announced it will also help users set AOL Instant Messenger (AIM) as their default messaging program.
Technology

PricewaterhouseCoopers Launches Second Generation of its Intellectual Property Exchange

PricewaterhouseCoopers (PWC) launched the upgraded e-business version of its Web site, The Intellectual Property Exchange (IPEX). The IPEX assists intellectual asset management (IAM) professionals in search of intellectual property acquisition, joint venture and licensing opportunities.

Fed Raises Short-Term and Discount Interest Rates a Quarter Percent

Predictions that the central bank would raise rates proved true as the U.S. Federal Reserve announced on Tuesday quarter-point increases in both the federal-funds target rate and the discount rate. Spokespersons for the Fed say the bank is maintaining its "neutral" bias toward any future rate changes.Also raised were the federal-funds target rate - or the rate at which banks lend to each other overnight - to 5.25 percent from 5 percent.

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