by AccountingWeb on Aug 22, 2001
According to a report on CNET, financial services provider FinancialOxygen has added tax and accounting services provided by Ernst & Young to the mix of services available on FinancialOxygen's BankOxygen e-bond Web site.BankOxygen provides online trading, products, and services to 21,000 independent banks, thrifts, and credit unions.Ernst & Young will provide its Online Tax Advisor and Accounting & Auditing Toolk
by AccountingWeb on Aug 22, 2001
By Sandra L. Wiley, Boomer Consulting, Inc.A crucial element to success in technology is leadership and making progress towards established action plans and goals. You might think that I am going to talk about the Managing Partner or the Technology Partner’s role in the process, but you would only be partially correct. In the area of technology, one person does not make things happen. It must be a team effort. In many firms you will hear this group referred to as the Technology Committee. I like to refer to it as the Technology Team.
by AccountingWeb on Aug 20, 2001
Many professional service firms measure their performance based primarily on financial measurements, such as the total number of hours billed, revenue generated per partner or net income per partner. But there are at least three other worthwhile ways in which to measure firm performance, besides the commonly-used, financial perspective. These other methods are: The Client Perspective: "How do our customers see us?" For instance, if a CPA firm says it is concerned about meeting the clients' needs, it should be measuring key indicators relating to the client.
by AccountingWeb on Aug 16, 2001
The Financial Accounting Standards Board today issued Statement #143, Accounting for Asset Retirement Obligations.Originally initiated seven years ago to deal with nuclear decommissioning, the scope of the project has been expanded over the years to include the accounting for similar closure costs of other assets at any time during their life.According to the FASB press release, the standard requires entities to record the fair value of a liability for an asset retirement obligation in the period in which it
by AccountingWeb on Aug 14, 2001
For years, companies have used pro forma statements as a means of better comparing previously reported financial statements with current statements where circumstances have changed significantly, as in a merger or acquisition.But recently, companies have been using pro forma statements to reflect what they believe to be the "true" financial health and well being of the company, taking into consideration various assets that may not appear on traditional accounting books, such as brand loyalty, market share, patents and other intellectual property.It is through this pro forma reporting pro
by AccountingWeb on Aug 13, 2001
In case you missed it earlier last month, the Indiana state legislature has passed a law which allows non- CPAs to own 49 percent of a firm, minimizes barriers to CPAs practicing in more than one state, and relaxes requirements to become a CPA.Indiana is just the latest in a number of states to have radically changed the way a CPA firm ownership is structured.By allowing non-CPA ownership, firms can better compete by attracting workers through stock options, and other equity models.
by AccountingWeb on Jul 29, 2001
For those of you who thought being an entrepreneur means going it alone, you may be in for a bit of surprise. A new survey conducted by Accenture over a period of 18 months shows that true and effective entrepreneurship is really a collaborative effort. Survey results also show that American business owners are among the least likely to embrace this theory.For the study, "Liberating the Entrepreneurial Spirit," Accenture interviewed 880 senior executives from organizations around the world, including 110 dot-com leaders.
by AccountingWeb on Jul 25, 2001
Top 10 Stumbling Blocks that Prevent New Businesses from Growingwritten by Philip HumbertNever in history have more entrepreneurs launched more new businesses! In America, thousands of businesses open their doors every single day! Unfortunately, most of them (nearly 90% of them) also close their doors within two years. Businesses are started with high hopes and glorious dreams. It is easy to start a business. It is much more difficult to build it, to make it succeed, to avoid the traps and pitfalls and frustrations, and to enjoy the fruits of success over the years.
by AccountingWeb on Jul 24, 2001
By Terri M. Sommella, President, Sommella Market StrategiesToday, a bright and talented tax manager at a public accounting firm called to let me know that he had accepted a position in private industry. Why? The negative work environment and stress finally pushed him over the edge. Last week, a former managing partner lamented the scheduling decisions to which he attributed his firm’s merger.
by AccountingWeb on Jul 17, 2001
By Roman H. Kepczyk, CPA, CITPAs an industry analyst for the accounting profession, InfoTech Partners North America, Inc. was asked to write the Knowledge Management section for the AICPA's e-MAP Handbook (Management of an Accounting Practice) as well as present a program at last month's AICPA TECH 2001 symposium. Through our research, we found that Knowledge Management is garnering acceptance within CPA firms, but the term means something completely different to every firm, as well as every person within the firm.
by AccountingWeb on Jul 05, 2001
Deloitte Touche Tohmatsu (DTT) has just completed its third annual ranking of the top 200 publicly traded Global Growth Companies.
by AccountingWeb on Jun 21, 2001
This article is provided by Knowledge Concepts, Inc., creators of FirmWorks.Today's CPA economy has firms working harder than ever, struggling to find and retain staff and challenged to maintain profit margins. Combine the competitive market pressures with significant advances in technology, and we have a market ripe for true information management.The CPA firm is a wealth of information existing in countless forms.
by AccountingWeb on May 30, 2001
A new Web site, www.accountingmalpractice.com has surfaced with the goal of providing accountants with information they can use to protect themselves against potential malpractice claims.The site, just three months old, was developed by Mark Cheffers, CPA, formerly of PricewaterhouseCoopers.
by AccountingWeb on May 29, 2001
A new study from the Financial Executives International (FEI) Research Foundation provides case studies and insights into how to guide a company through a financial turnaround.Advice offered in the study includes:Eliminate emotional ties to previous policies.Make cash flow allocation your first concern.Identify and monitor internal key performance indicators daily.Look for problem
by AccountingWeb on May 14, 2001
James Schiro, 55, CEO of PricewaterhouseCoopers, has unexpectedly announced his plan to step down as soon as a successor can be found. During his tenure as CEO, Mr. Schiro oversaw the 1998 merger of Price Waterhouse and Coopers Lybrand, as well as the 2000 failed attempt to sell the firm's consultancy practice to Hewlett-Packard.