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FEBRUARY 21, 2008


Political talk at work is a potential minefield
While discussions at work about the presidential election may seem inevitable, human resources experts warn supervisors that discussing political preferences can kill the bottom line.

CPAs pessimistic about economic outlook
Expectations for the U.S. economy turned sharply negative among senior-level executive CPAs as the outlook for finance, real estate, and retail trade declined in the first quarter, according to the latest Business and Industry Economic Outlook Survey of the American Institute of Certified Public Accountants and the University of North Carolina's Kenan-Flagler Business School.

Taxpayers distrustful of government financial reporting
The federal government is failing to meet the financial reporting needs of taxpayers, falling short of expectations, and creating a problem with trust, according to survey findings released by the Association of Government Accountants.

Firm/State News

INPACT Americas announces new member firm
INPACT Americas, an internationally affiliated association of accounting firms, is pleased to announce the admission of a new member firm, Alloy Silverstein Shapiro Adams Mulford Cicalese Wilson & Co. of Cherry Hill, NJ.


What have you got to say today?

David Tate, CPA, Esq.:
The Legal & Accounting Blog
Supreme Court allows 401(k) participants to sue for loss in value

In a decision that most likely will generate significant future litigation, the U.S. Supreme Court has held that an individual participate who has a 401(k) account has standing to personally bring suit against the plan administrator under ERISA for loss in account value....

Allan Boress, CPA
Truth Be Told About Business Development Blog
Watch the Pendulum Swing by Sir Tax-A Lot

Four years ago I wrote an article on the 16 reasons Hillary couldn't lose the presidency. Although I may still be proven correct, not even the highest paid political consultants predicted she would be taken down by an unknown senator from her home state....

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Quiz Me!

Try your luck! Win valuable prizes!
This week's Student Zone quiz is "U.S. GAAP vs. IFRS" and is brought to us by Barbara W. Scofield, PhD, CPA - Associate Professor of Accounting and Director of the Financial Accounting Concentration at the University of Dallas in Irving, Texas.

Recent winners:
Collin Versich, EA, Bloomington, Minnesota
Jeffrey I. Winer, CPA, Framingham, Massachusetts
John Kenneth Hayden, CPA, Media, Pennsylvania

Publisher's Note

We all make choices each and every day about how we spend our time. Job, family, friends, etc., it's all dividing our respective days. I've held off participating in MySpace, Facebook, Tribe, and other online social networks since my impression is that these efforts could quite easily eat into the already-full day. However, I know that many professionals, including accountants and attorneys, have found these networks to be valuable to their practices.

Have you put these social networks to (business) use effectively? If so, AccountingWEB would really like to hear from you. Please jot me a note on your positive business experiences with social networks.. click here.

Rob Nance

Latest News

Lite News

Tuesday is most productive day
Why tackle today what can be put off until Tuesday? In a new survey, 57 percent of executives said Tuesday is the most productive day of the week for employees. Monday was the second most popular answer, although it appears to be losing favor: Only 12 percent of respondents ranked Monday as most productive, compared to 26 percent in a 2002 survey.

Tech News

Most accountants unable to help clients take advantage of technology opportunities
Results of a survey conducted by our sister site, AccountingWEB, and the British National B2B Centre conducted in the autumn of 2007 show that more than three-quarters of respondents held positive views of e-business, but only 8 percent of them advised clients on e-business strategies. Another 9 percent had invested time and effort, but were disappointed with the returns and 8 percent said e-business was not core to their activities.

Purchase Now!

Extraordinary Circumstances: The Journey of a Corporate Whistleblower
In Extraordinary Circumstances, Cynthia Cooper-formerly the Vice President of Internal Audit for WorldCom-recounts for the first time her journey from her close family upbringing in a small Mississippi town, to working motherhood, to the pressures of becoming a whistleblower, to being named one of Time's 2002 Persons of the Year. She offers a rare insider's glimpse into the spectacular rise and fall of WorldCom, a telecom titan, the darling of Wall Street, and a Cinderella story for Mississippi.

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