News

Questions Over Concealment at KPMG's L&H Audit

Facts may have been concealed from KPMG auditors prior to their approving the accounts of Belgian voice recognition company Lernout & Hausie.L&H has already admitted it will have to restate financial results for 1998, 1999 and the first half of 2000, as the SEC investigates allegations that Korean sales for the firm involved companies that denied they were customers.KPMG said that the clean opinion issued in its audit report for 1998 and 1999 "could no longer be relied upon," according to the Financial Times.The possibilty of concealment was

Excel Tip: Revising Protected Files Without the Password

A question was recently submitted by Barry Shrut, who wanted to know if there is a way he can revise a protected workbook when the password left with a departed employee. This tip may do the trick!Although you can't make changes to protected cells in a workbook when you don't have the password, you can copy the entire workbook to a new workbook file and the protection will not carry over to the new file.Select the occupied cells in the current worksheet.

AccountingWEB Weekly News Wrap-up - Issue 70

The AccountingWEB Friday Wrap-Up Newswire - Issue 70 November 24, 2000 Members Logon to http://www.accountingweb.com for full access to all our resources. Don't know your Logon Membership Details?
Technology

Two new, Super-Duper Wireless Technologies

The December 2000 issue of Home Office Computing features two products enhancing wireless communications.The first is from NowSpeed.com, and helps mobile workers receive corporate e-mail and attachments through their company address rather than through a third-party e-mail address--no matter where they are to access the e-mail.
Technology

How Much is Your Car Worth?

The end of the year signals a hurried rush to either buy a car, trade in your old one or settle with what you have.
A&A

Priceline's Ex-CFO $3 Million Loan Excused

Many are aware of the fact that Priceline has had its share of problems, but the latest news from the Norwalk, CT-online retailer is stunning. The company is forgiving a $3 million loan given to ex-CFO Heidi Miller.The loan was given a 6.8 percent APR, and the fact that the company won't pursue repayment from Miller is circumspect to her departure.

Spotlight on: Peter Coburn

AccountingWEB ProfilePeter CoburnPresident and OwnerCommercial Logic, Inc. A Story About how a Vision for Simple Excellence Leads to Viable SolutionsPeter Coburn is probably the antithesis of what most people imagine when thinking about a president of one of the major companies dominating the software industry. In fact, his demeanor is so flexible, uncomplicated and peppered with a good sense of humor, that it’s hard to even picture him as head of Commercial Logic, Inc.

EU May Pursue Sanctions Against U.S.

President Clinton signed a new law last Thursday, November 16, reforming the Foreign Sales Corporations system and attempting to achieve compliance with World Trade Organization requirements that US exporters not be given an unfair advantage in the world trade marketplace.H.R. 4986, the FSC Repeal and Extraterritorial Act, was passed in Congress and signed last week in an attempt to catch up with the November 1 deadline for U.S. action on the issue. The European Union had previously asked the WTO to impose sanctions on U.S. exports if new legislation was not in place by November 17.

8 Steps to Implementing Change and Changing Your Organization

8 Steps to Implementing Change and Changing Your OrganizationThis AccountingWEB workshop was presented by: Jennifer Dayce and Brooks Parker, Professional Development Consultants from Results Accountants' SystemsWorkshop sponsored by: Arthur Andersen

Race to the White House: Cheney Hospitalized for Chest Pains

The news broke this morning that Vice Presidential candidate Dick Cheney complained of chest pains and was rushed to George Washington University Hospital. After several tests, however, his physicians assured him and the rest of the world that he did not suffer a heart attack.Governor George W. Bush knew of Cheney's history of heart problems when he selected him as his running mate.
Community News

Colleges Compete for Andersen Tax Challenge

The best and the brightest college students competed for top honors in the 2000 Arthur Andersen Tax Challenge® National competition, held Nov. 17-19 at its training facilities in St. Charles, Ill.Both graduate and undergraduate teams qualified as winners, and this year's awards went to the College of William and Mary (undergraduate) and the University of Denver (graduate). Students solved real-life tax problems using a team approach that tested knowledge of the law and analytical abilities.A $20,000 donation from the Andersen Foundation was given for first place.

International E-Commerce can be Difficult

Although the Internet has spawned tens of thousands of stories praising how it helps increase B2B (Business to Business) commerce, having a Web site to conduct e-commerce initiatives may not be enough to truly compete on an international level.While a Web site can serve as an online brochure, setting up systems to work in foreign countries may be more difficult than it seems. As a result, U.S.-based sites are finding themselves setting up additional sites just to handle business in various countries.
Technology

Bill Gates Predicts an Intelligent Internet

In an essay for The Economist's publication, "The World in 2001," Bill Gates predicts that "tomorrow's Internet will look a lot like today's - but it will be a whole lot smarter."Web pages are only a picture of the data you need, not the underlying data itself. Manipulating the underlying data is hard to do.

8 Steps to Implementing Change, with Jennifer Dayce and Brooks Parker

AccountingWEB Workshop: November 21, 2000Presenters: Jennifer Dayce and Brooks Parker, Professional Development ConsultantsResults Accountants' Systems

Rob Chabot

Rob ChabotM.Acc., Academic Program Coordinator, Master of Accounting Program, The Max M. Fisher College of Business, Ohio State UniversityWorkshop presenter, Wednesday, November 29, 2000, 4-5 p.m. Eastern timeWorkshop Topic: The Importance of Advanced DegreesRob Chabot is a native of Whittier, CA, a suburb of Los Angeles. He has a B.S. in Business Administration with a major in Accounting and a minor in Geography from Humboldt State University in Arcata, CA. He has a Master's degree in Geography from Ohio State University.Mr.
Tax

IRS Announces 2001 Pension Plan Limitations

The IRS has announced its annual cost-of-living adjustments with regard to dollar limitations for pension plans for the year 2001.
Technology

Bridge21 to Offer WAN Access to QuickBooks

Bridge21, North America's largest trainer for Intuit's QuickBooks software, has announced a partnership with InsynQ to deliver Internet access to QuickBooks for Bridge21 members.The arrangement will allow for 140 Bridge21 members and their clients to use QuickBooks on a Wide Area Network provided by InsynQ, Inc. Participating Bridge21 members will be able to offer real-time assistance to their clients who use QuickBooks."It will allow the CPA to provide real-time financial reports and advice for the small business client," according to K.C. Truby, CEO of Bridge21.
Tax

IRS Announces New Mileage Rates

The Internal Revenue Service announced Thursday the optional standard mileage rates to use for 2001 in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes.The amounts for the various deductible costs for use of a car will be effective January 1, 2001 and are as follows:The standard mileage rate for the cost of operating a car is 34.5 cents a mile for all business miles driven.
Community News

Freed Maxick Merges with RSM McGladrey

Buffalo, New York based Freed Maxick Sachs & Murphy, P.C. have announced that some of it's divisions will combine with RSM McGladrey Inc.

Six FCG Members Honored by AICPA for Service

Six members of the Financial Consulting Group were honored earlier this month by the American Institute of CPAs at the Business Valuation Conference in Miami.Those chosen for the Hall of Fame and Volunteers of the Year were honored for their service to the profession. Hall of Fame inductees included James Hitchner, CPA/ABV, ASA of Phillips Hitchner Group, Inc.

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