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October 8, 2009    
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Publisher's Note
Rob Nance, Publisher Bob Newhart, one of my favorite comedians, once said: "I was never a Certified Public Accountant. I just had a degree in accounting. It would require passing a test, which I would not have been able to do." When Newhart was riding high in TV, I suspect that quote popped into a few heads upon taking the CPA exam. Keep enjoying your AccountingWEB e-newsletters. Like McDonald's, "we do it all for you." This old slogan, Newhart...I guess it's "70's Day" here at AccountingWEB!

Rob Nance
Top News
Why are bank fees on the rise?
When a bankís income from overdraft fees is higher than net income, eyebrows tend to rise. Thatís the case in nearly 45 percent of banks, according to the research firm of Moebs Services.
April fif... I mean, October fifteenth deadline approaching
It's almost October 15th and we all know what that means. Tax accountants get to sleep again, for a few months. Spend a little time with the families. Take a short trip. Gear up for that other tax season, the one that starts right after the new year.
AICPA calls for permanent funding source for IASB
Barry C. Melancon, president and CEO of the American Institute of Certified Public Accountants, speaking at a roundtable of global accounting leaders in New York City this week called for a permanent, independent funding mechanism for the International Accounting Standards Committee Foundation.
Most CFOs favor approval of IFRS
A new Deloitte survey indicated that 70 percent of CFOs and other finance professionals would support the Securities and Exchange Commission's (SEC) approval of its proposed roadmap for adopting International Financial Reporting Standards (IFRS).
New TaxWatch University Core Tax Staff Training from Industry Leaders AuditWatch and PPC
Taxwatch University    New! TaxWatch University - co-presented with PPC in the same format as the overwhelmingly successful AuditWatch University—provides five levels of core tax staff training, covering individual, corporate, pass-through, partnership, and other tax entities and situations, plus tax planning strategies and professional development.
   New! Web-Based New Audit Hire Training - This series is designed for new auditors, combining lecture, interactive exercises, discussion and homework, and covering topics most important for new staff at an audit firm.
   Visit trainingcpe.thomson.com/AuditWatch or call: 800.775.9866 for in-house training, consulting, and data technology solutions; or 800.231.1860 register for public seminars.
Featured Articles
Overweight workers face bias in hiring
Bias toward overweight workers is especially strong in hiring, according to recent studies, which found that overweight applicants with the same qualifications often suffer from negative stereotypes and are perceived as unfit for jobs involving face-to-face interactions.
What Dr. Laura can teach you about improving your financial business
A lot of the problems financial businesses have, especially with clients, stem from communication issues. Whether itís too much, not enough, the wrong type or just a misinterpretation between what is said and what is meant, at some point if clients donít feel the love they donít call Dr. Laura to fix it. They simply leave.
Holiday travel in your plans? Start searching and comparing now
If you plan on traveling for the holidays, SmarterTravel.com's Ed Perkins recently predicted that the trend of cheaper flights that took place over the summer will continue through the winter.
See How TaxACT Preparer's Editions Measure Up
TaxACT From client organizers and powerful calculators to helpful analysis reports, TaxACT Preparer's editions feature tools and features that professionals want - at a price they enjoy. Trial version includes:
     • TaxACT 2008 Preparer's 1040
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Firm/State/People News
California sisters get jail time in father/daughter tax fraud case
Two daughters of a Southern California man previously convicted of tax fraud have themselves been sentenced to six years in federal prison for their part in a $31 million scheme to defraud the Internal Revenue Service, the Department of Justice announced.
Mid-Atlantic region sees merger of Beard Miller and Parente Randolph
ParenteBeard LLC has been created from the merger of two large Mid-Atlantic accounting firms - Parente Randolph and Beard Miller Company.
Texas woman barred from preparing tax returns
A federal district court in Texas has permanently enjoined Ludivina Salinas of Mission, Texas, from preparing federal income tax returns for others, the Justice Department announced.
Two Texas firms, with similar clients, join forces
Dallas-based Travis Wolff & Co. has merged with Burnside & Rishebarger of San Antonio effective October 1. The bigger firm, called TravisWolff Independent Advisors & Accountants, will have about 155 employees in both locations and an annual revenue of $25 million.
Small Audit Tips from Start to Finish
CPE Link Small Audit Series Begins October 19.
Don’t miss the upcoming live webcast series with small audit expert Larry Perry. These 15 live webcasts will give you a start-to-finish overview of how to plan and complete small audits efficiently. Each webcast qualifies for 2 CPE hours. Larry Perry is a nationally-known author of accounting and auditing manuals, a professional continuing education instructor and author, and a consultant to CPA firms. View Larry Perry’s upcoming webcasts.
What do you have to say today?
Old Stuff Just Doesn't Work As Well Anymore
I read a great article in a recent issue of the New Jersey Law Journal that is every bit as appropriate for the world of accountants as it is for attorneys for whom it was written.
65% COBRA Premium Subsidy
Included in the 2009 Economic Stimulus Package (ARRA) was a provision for subsidized COBRA premiums for individuals who have lost their jobs. The subsidy pays the cost of 65% of COBRA premiums while the individual picks up the remaining 35% rather than the usual 100%.
Accounting's Patron Saint
The patron saint of accountants, bankers, bookkeepers, security guards and tax collectors is Saint Matthew of Apostle fame, and he also was the author of one of the Gospels.
Virginia Tax Amnesty Begins October 7, 2009: GetSquareVA!
On September 28, 2009, Governor Timothy M. Kaine helped launch Get Square VA, a program administered by the Virginia Department of Taxation offering amnesty to delinquent taxpayers who pay their back taxes between October 7, 2009 and December 5, 2009.
Questions & Advice
Leasehold Improvements
Should I remove the leasehold improvements from the fixed assets list after fully amortized?
Add your input!
I'm doing an essay on shorages in accounting and I'm having problems finding anything on it.Like Shorages in the off seasons....
Share your suggestions!
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