Practice | AccountingWEB
by AccountingWeb on Apr 19, 2004
by: Troy Waugh Is this going to be your year for turning the power of marketing and sales on in your business? If your answer is yes, here are five keys to success: Focus on client's profits, not your own. There is a limited demand for tax return preparation services and audits, but there is unlimited demand for accountants and consultants who can help clients improve net profits! If youare still focusing on increasing your billable hours, billing rates or net fees, it's time to reorient your thinking. 
by AccountingWeb on Apr 16, 2004
Administrative professionals play a vital role in facilitating the flow of information and communication intoday's office. They also serve as key front-line public relations ambassadors for their managers and their organizations.The field of more than four million administrative professionals in the United States and Canada includes executive assistants, secretaries, office managers and other administrative support staff.As communication liaisons, administrative professionals maintain and support relationships with other managers, employees, customers, vendors and the public.
by AccountingWeb on Apr 15, 2004
The Justice Department wants a federal judge to shut down a business that is accused of costing the government and 100,000 customers at least $500 million.The New York Times reported that the business, the National Audit Defense Network, has cheated the government out of $324 million or more in taxes in the last three years, according to a civil suit filed in Las Vegas Thursday.The company markets itself as a network of more than 1,000 former Internal Revenue Service agents and others who can win audits and stop collection of past due taxes.
by AccountingWeb on Apr 14, 2004
Wealthy investors who bought questionable tax shelters to lower their tax bills are finding that they can’t hide from state and federal regulators.The Internal Revenue Service and California tax regulators are going to court to obtain client lists from accounting firms or insurers to identify investors who bought the shelters. The strategy appears to be working.A federal judge on Monday upheld efforts of the IRS to obtain the names of two tax shelter clients of accounting firm KPMG, according to the New York Times.
by AccountingWeb on Apr 14, 2004
“Bowman’s Accounting Report” has a new name: It’s now called INSIDE Public Accounting. “The change was made to better reflect our mission as the most authoritative and indispensable source of news and best practices at accounting firms and within the profession,” said Martha H. Sawyer, publisher of INSIDE Public Accounting. Added Editor Julie Lindy: “In addition, the new name reflects the editorial direction we’re taking with the newsletter, with greater coverage of local and regional firms, as well as emphasis on best practices for profitability and growth.
by AccountingWeb on Apr 13, 2004
BearingPoint, Inc., a business consulting and systems integration firm, announced the findings of a survey of leading financial institutions, conducted by the Economist Intelligence Unit (EIU), that found wasteful spending and duplication of efforts around risk management and financial transparency, due to the absence of data standards.
by AccountingWeb on Apr 12, 2004
By Troy WaughAs I discuss in my book, whenever you have a client in common with another service provider, it’s logical to get acquainted with that person so you can coordinate in serving the client. Get to know your best clients’ other professional service providers. We find lawyers, bankers, bonding agents, and insurance brokers among the best. They are open to you and will readily meet with you because of your joint client.
by AccountingWeb on Apr 04, 2004
KPMG and its former consulting unit BearingPoint, Inc., agreed to pay $17 million each for their part in a class-action lawsuit stemming from the practice of overbilling clients for travel expenses.In December, PricewaterhouseCoopers LLP agreed to pay $54.5 million to settle its part in the class-action lawsuit. Also named in the suit are Ernst & Young LLP, and the U.S. branch of Cap Gemini Ernst & Young, a French consulting practice that purchased Ernst & Young's consulting business in 2000, the Wall Street Journal reported.
by AccountingWeb on Apr 01, 2004
KPMG has announced the establishment of the 404 Institute, an open forum designed to inspire the exchange of ideas and the development of research, leading practices, and a range of activities related to meeting the requirements of Section 404 of the Sarbanes-Oxley Act of 2002.
by AccountingWeb on Mar 22, 2004
By L. Gary Boomer, CPA, CITP, CEOThe management of IT in professional service firms has evolved to the point where it is relatively easy to distinguish the firms who are getting the top returns on their IT investments.
by AccountingWeb on Mar 18, 2004
FranklinCovey, which has surveyed more than 2.5 million people about productivity and effectiveness issues, last week released the findings of its latest Execution Quotient study of 12,182 U.S. workers. The findings confirm that most organizations suffer from major "execution gaps," which undermine the achievement of their most critical, strategic goals.
by AccountingWeb on Mar 17, 2004
Harold Tinkler, Deloitte & Touche LLP's chief ethics and compliance officer, told Baruch College's first Ethics Week forum that culture, controls and consequences are the elements necessary to creating a successful and ethically managed company.
by AccountingWeb on Mar 14, 2004
CPAs seeking to help their clients and employers understand privacy legislation and adopt good privacy practices may turn to new guidance developed jointly by the American Institute of Certified Public Accountants (AICPA) and the Canadian Institute of Chartered Accountants (CICA). The guidance, called the AICPA/CICA Privacy Framework, is available at www.aicpa.org/privacy.
by AccountingWeb on Mar 12, 2004
By Bruce L. Katcher, Ph.D. President, Discovery Surveys, Inc.Organizations spend a huge portion of their operating budgets compensating employees. In return, they expect them to provide excellent products and services to their customers. Yet half of all employees say that they don't receive the training they need to do their job well.Why don't organizations provide the training their employees need? 
by AccountingWeb on Mar 04, 2004
The U.S. Justice Department is taking legal action to force a law firm to reveal the identities of its tax-shelter clients.The law firm, Jenkins Gilchrist, participated in fraud, the Justice Department said in court papers filed in U.S. District Court in Chicago this week.

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