CFO

A&A

401(k) Tax Deferrals May Backfire

An interesting study released by the National Bureau of Economic Research, demonstrates how 401(k) funds set aside for retirement and tax deferred when earned, may end up actually costing the investors more in tax dollars than if the funds were taxed at the time they were earned.Low- and middle-income workers might be most victimized by a potential retirement scenario in which income from mandatory withdrawals from a 401(k) plan pushes the taxpayer into a higher tax bracket, raising the marginal tax rate and potentially
Technology

Online Resource for Business Valuation

Looking for information on valuing your business? Look no further. Or look way further, depending on your point of view. Here is a Web site, produced by William C. Weaver, Ph.D., that provides more links to online business valuation resources than you will probably have time to examine.From the American Bar Association's tax law summaries to Zero Coupon Bonds, this A to Z summary of online business valuation links provides something for everyone who is interested in business valuation topics and techniques.Another page in Dr.
Practice

FASB Issues Statement on Asset Retirement Obligations

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
A&A

cyberCFO Extends Reach

cyberCFO, an outsourced strategic financial services firm for emerging-growth technology companies, announced the opening of its Boston office to be headed by Mary Bevelock, former Managing Partner of PricewaterhouseCoopers' Entrepreneurial Services Center in Cambridge, MA. As Managing Director for Boston, Bevelock will oversee the operations, client service delivery, and business development for the Boston region.
A&A

Treasury to Offer Four-Week Bills

The U.S. Department of Treasury has announced it will begin regular weekly offerings of four-week bills. It is expected that the four-week bills will help smooth seasonal fluctuations in the Treasury's cash balances.The first four-week bills will be officially announced on Monday, July 30, and offered for auction on Tuesday, July 31, at 1:00 p.m., and settlement will occur on Thursday, August 2.
A&A

Marketing Help For Small Businesses

Small businesses are different from larger ones if for no other reasons than they have less money to spend and smaller staffs to help them get the job done. The whole point of marketing is to build relationships with your customers and potential customers. Moreover, even though a small business does not have the budget or staff for large-scale marketing plans, you do have contact with your customers every day. With only 24 hours in the day and a business to run, you may want to hire an ad agency or enlist the help of a marketing consultant.
A&A

Pocket Quicken Speaks to the Palm

Quicken, the leading personal finance software program, is now available in a version for Palm Powered handheld computers. People who own the little handheld computers can now track their personal finance information anytime and anywhere they go with the new Pocket Quicken 2.0.The software connects to the desktop version and synchronizes to provide those who compute on-the-go with account balances, credit limits, transaction histories, exchange rates, and more.
A&A

Is Bill Gates Still The Richest Man on the Planet?

Yes, Bill Gates is still the richest man on the planet, according to the latest ranking by Forbes Magazine, with a net worth of $58.7 billion, but investing guru Warren Buffett, aka "The Oracle of Omaha," slipped past Microsoft's co-founder for second place. Microsoft's Paul Allen moved behind Mr.
A&A

How to Hire the Right Technology Staff

A savvy business owner realizes that having a CPA prepare his complicated tax return is a far better choice than trying to “figure it out” on his own or better yet, hand it off to an employee to figure out. Similarly, CPAs need to realize their need for a strong technology professional to run their networks and implement the strategic technology plan. How you obtain that expertise leads you to a decision to hire or outsource. This decision is based on the size of your firm and the complexity and sophistication of your technology vision.
A&A

Financial Planning Designation May go Global

At its May Board meeting, the Certified Financial Planner Board of Standards (CFP Board) resolved to create a joint task force with representatives of the International CFP Council to develop a proposal for transforming the existing structures of both organizations for the benefit of the global community of CFPTM certificants.
A&A

Financial Services - Avoiding the Ten Traps

Mr. Troy Waugh, CPA, MBA provided this Marketing Moment! A few years ago, one of my clients decided to get into the lucrative business of financial services. After all, financial services companies have been competing with CPAs in the accounting and tax business for years. Partners selected one owner to become the financial services “guru” for the firm. He spent years getting licensed, obtaining a CFP designation and lining up money managers and product sources.
A&A

Fraud Tales - The Case of the Shrinking Margins

When Timothy P. Anglim, CPA, CMA, founder of the Fraud Detectives, accepted an assignment as CFO for a struggling family-owned manufacturer in the early 90's, he expected to find a company that was in need of financial and operational discipline, given its known recent track record of operating deficits. And initially, the assignment focused on upgrading manual financial systems and consolidating several operating entities into one, to improve reporting visibility. Cash flow was negative.
A&A

FASB to Change the Rules of Bookkeeping

It has long been a practice of consumer products companies to pay an up-front fee to retailers for the privilege of having retailers carry their products.
A&A

Find a Back-Up ISP - Protect Your Firm's Connection

Business-interruption insurance can protect you from fires, floods, and other disasters, but are you covered for the loss of your Internet connection? With ISP's shutting their doors around the country, you need to have a back-up plan in place in case your ISP pulls the plug.There are a few insurers that do provide coverage for temporary disruptions in service, but it appears there are no insurers that provide loss coverage when an ISP shuts the doors for good.
A&A

Leading Organizational Change

Today's economy is typified by change, but is this anything new? An ancient Greek philosopher is quoted as having said, "There is nothing permanent except change." And that was thousands of years ago.Change is here to stay, and to survive we must all understand it, embrace it, and learn to use it to our advantage. Your human resources and change management strategies can have a significant impact on the organization's bottom line and you must ensure that your workforce is flexible and responsive in order to meet changes in market and business demands.
A&A

Microsoft Great Plains and SBA Team Up

The U.S. Small Business Administration (SBA) and Microsoft Great Plains are co-sponsoring an online seminar on effective strategies for small companies to do business on the Internet and profit from the global expansion of e-commerce.Representatives from Compaq Computer Corporation, a leading manufacturer of hardware and software, also will be on hand to provide expert advice in this area.The free, 60-minute online conference "How to Put the Internet to Work in Your Business" has been labeled a "Webinar" (short for Web seminar) by its organizers.
A&A

Do You Rise Above the Competition? Quiz Yourself

There are a number of skills and personal characteristics that top accounting services marketing associates share in common. In today's competitive marketplace, you need to do all you can to differentiate yourself in terms of winning new clients. Each question in the following quiz is based on the results of a study of 100 top-producing marketing reps that was conducted during the writing of Building a Profitable Online Accounting Practice by The Accounting Guild in Las Vegas, NV. Answer each question yes or no to determine how well you stand out compared to the competition.
A&A

Video Conferencing Can Improve Service & Collaboration

Over the past few years, interactive videoconferencing tools and video streaming via the Internet and Intranets have helped break down geographic barriers by facilitating interaction with individuals around the globe. Individuals and companies around the world are feeling an increased need to exchange information through engaging and interactive visual presentations.A timesaver and sometimes a lifesaver, videoconferencing and video streaming have addressed the growing need to overcome challenges imposed by time and geography.
A&A

Stop! - Don't Throw Away any 'Junk Mail' From Your Bank

The subject of privacy is receiving considerable public attention today. New federal laws have been passed to help you understand how banks, credit card companies and other financial service providers use and protect your information.

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