AccountingWEB Weekly News Wrap-Up - Issue 96

1. Senate Passes Huge Tax Cut
2. FASB Nears Conclusion of M&A Project
3. Web Hosting For Peachtree and QuickBooks
4. E&Y Terminates Audit Relationship Before Being Fired
5. Treasury Secretary says 'Abolish Corporate Income Tax'
6. Emerging Job Titles for the Accounting Profession
7. Fraud Tales - The Case of the Shrinking Margins
8. New Business Referral System Launched
9. Attracting and Retaining Talent in Your Firm - Helpful Tips
10. It's the End of the Line for eLedger

More and more, entrepreneurial businesses across North America are accessing the Internet looking for accounting and financial service providers. To address this trend, AccountingWEB is pleased to announce the "Entrepreneur to Accountant Referral Network" (EARN) program, a new business service in partnership with BusinessmatchMaker.com that matches accounting needs of small businesses with the talents of AccountingWEB members.

As the exclusive accounting service provider to BusinessmatchMaker.com, participating AccountingWEB members will be the only ones to receive accounting related referrals from thousands of businesses. Find out more about the program, and apply as a Service Provider. [4]

Mike Platt, CEO [5]
AccountingWEB, Inc.

1. Senate Passes Huge Tax Cut [6]

Twelve Democrats crossed party lines and voted with the Republicans to pass the largest tax cut in 20 years. The House and Senate must now reach agreement on a final bill that will be sent to the White House.

2. FASB Nears Conclusion of M&A Project [7]

The Financial Accounting Standards Board agreed to agree on final measures for accounting for mergers and acquisitions. The board also set implementation dates for using the purchase accounting method and for non-amortization of goodwill.

3. Web Hosting for Peachtree and QuickBooks [8]

In an AccountingWEB workshop, Monty Dillavou, President of e-Controller presented information about the company's e-WebHosting System for QuickBooks and Peachtree Software.

In a recent study, employees ranked Payroll Direct Deposit equally as important as 401K programs. Employers said it's the easiest employee benefit program to administer. Our FREE Personalized Pricing & Timing Guide [1] details your cost per payroll and sets the timeline for implementation in your business.

Ernst & Young ended its audit relationship with Health Risk Management, Inc., apparently just before being shown the door.

5. Treasury Secretary says 'Abolish Corporate Income Tax' [10]

Secretary of the Treasury, Paul O'Neill, has diagrammed his vision for major tax reform. Included among the items on his wish list are the abolition of the corporate income tax and the capital gains tax on businesses and some radical reforms to the Social Security system.

6. Emerging Job Titles for the Accounting Profession [11]

What's in a name? As new specialties and roles emerge, the accounting profession is likely to find new names for changing functions. Here are some titles already growing in popularity.

Microsoft bCentral [2]
Manage your business finances easily. From anywhere.
For as little as $29.95 a month, you'll gain access to online accounting and financial management tools to help you manage your business more efficiently. And that's just the beginning.

Once upon a time, there were some mysterious changes made to the company books.... Timothy Anglim of the Fraud Detectives, tells the tale of how he helped one company unravel the Case of the Shrinking Margins.

8. New Business Referral System Launched [4]

AccountingWEB announces the development of the Entrepreneur to Accountant Referral Network (E.A.R.N.) program, matching the accounting and financial needs of thousands of small businesses with the talent of the AccountingWEB community. Find out how your firm can participate and get business leads through this new referral service.

9. Attracting and Retaining Talent in Your Firm - Helpful Tips [13]

Small CPA firms face a challenge in today's competitive employment market. Quality accounting professionals are a hot commodity, and smaller firms often lose candidates to the big starting salaries and name recognition at larger firms. What can smaller firms do to be competitive?

In a recent study, employees ranked Payroll Direct Deposit
equally as important as 401K programs. Employers said it's the easiest employee benefit program to administer. Our FREE Personalized Pricing & Timing Guide [1] details your cost per payroll and sets the timeline for implementation in your business.

Software application service provider (ASP), eLedger, announced this week that, effective May 31, the company will no longer offer software services over the Internet.

Tuesday, May 29, 4:00-5:00 EDT
Topic: "Microsoft Access Based Accounting" [15]
Presenter: Gene Marks, CPA, Owner, Demand Systems
Sponsor: Red Wing Accounting Software [16]

Thursday May 31, 4:00-5:00 EDT
Topic: "The Benefits of a Living Trust From a Financial Planner's Point of View" [17]
Presenter: Tom Palka, CFP, President, 401(k) On-Site Specialists

Have you read the transcripts of last week's workshops?

"Professionalizing the Practice Development Function" [18]

"Web Hosting for Peachtree and QuickBooks" [8]

Check out the Workshop Schedule [19] for the upcoming sessions in our ongoing workshop series.

Click on the link(s) below to offer your insight and feedback or
to see what others recommend:

1. Is it possible [20] to include branding and integration costs in the acquisition cost of a subsidiary?

2. Can someone provide relevant data [21] for a research paper on planning for certification audit and audit risk management?

Visit the Q&A Forum [22] to post your questions and share your
ideas! Simply click on the Add Comments option at the bottom of
any question to add your response and comments.

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