CFO

A&A

AICPA Teams Up With Fidelity Investments

The American Institute of CPAs has announced an exclusive arrangement with financial giant Fidelity Investments Brokerage Group to provide services and support to AICPA members who are building investment advisory practices.Fidelity will be the exclusive provider of custody and clearing services for the AICPA's Center for Investment Advisory Services.Fidelity will provide brokerage services, training, business development assistance, back-office support and ongoing CPA market developme
A&A

M&A Activity to Increase in 2000

Merger & acquisition (M&A) activity hit record levels in 1999. According to a forecast by the Transaction Services group of PricewaterhousCoopers, M&A activity could increase even more dramatically in 2000.Several factors will drive the growth. First, there’s a lot of money out in the market that will make M&As easy. There is an unprecedented supply of capital right now. Second, in business circles, a lack of growth will be punished – growth will become the new indicator of success for companies.
A&A

Who Wouldn't Want to Retire Early?

In the wake of new Social Security Administration figures that tell us there will be an increasingly smaller percentage each year for government checks once we reach retirement, everyone still has early retirement on the brain.A poll conducted by the International Longevity Center and Harris reported that 25 percent of workers, ages 25 to 29 expect to retire before 55; however, history has shown that once this group reaches their 40s, reality hits, and less than 10 percent think 55 still is realistic.So how do you retire early?
A&A

Microsoft CFO Resigns to Join Start-Up

Popular Microsoft CFO, John Maffei, has resigned his postion to join a Vancouver, B.C. start-up called Worldwide Fiber, Inc., a company that manages fiber optic networks for its clients.Maffei will be replaced by John Connors, who has been with Microsoft for 11 years.Maffei leaves behind a legacy, known best to the media and shareholders, as a very conservative view of Microsoft revenues.
A&A

Sage Posts 60% Increase in FY Earnings

The parent company of Sage, makers of the line of popular accounting software like DacEasy, Acuity and BusinessWorks, has just announced a 60 percent increase in income over the previous fiscal year with revenues just shy of $500 million. The Sage Group's fiscal year-end was Sept.
A&A

Outsourcing Conference Ideal for CFOs and Financial Leaders

Creating solutions outside your company for integration with current processes is the basis of "outsourcing." Thanks to the push by companies across the globe to make the outsourcing more than just a trend, this business tool is as hot as its ever been.CFOs will want to take note of the next World Outsourcing Conference, Feb. 21-23, 2000 at the Disney World Yacht and Beach Club Resorts in Orlando, FL. This marks the third year in a row for the conference.Speakers from around the globe will speak to best practices and operational concerns.
A&A

Many Companies lax on Finalizing Budgets

Many CPAs and accounting professionals provide consulting services to companies on helping them with their budgets. However, many professionals this year may find that their clients are behind the eight-ball when it comes to finalizing their 2000 budgets.A new benchmark study by KPMG reports that among 300 companies who reported budget data, many companies who usually complete their budgets in September are running behind, with some budgets taking as long as 20 weeks to prepare.The reason is attributed to several factors, according to experts.
A&A

Brush up on the Roth IRA

What are the tax-saving advantages of the Roth IRA?This relatively new savings vehicle is ideal for the younger set because it enables a person to invest in the long-term for retirement, with the money growing on a tax-free basis.Even though most everyone qualifies for a typical IRA, the Roth is better for a younger investor because money grows tax-free rather than tax-deferred.
A&A

Comerica & ADP Offer Discounts on Payroll Services

Many CPAs and accounting professionals call upon payroll services giant ADP to fulfill their client and employer pay systems. Now, ADP has announced it will collaborate with Comerica Bank and Goldman Sachs to provide payroll and employment services to small businesses.What does this mean to the accounting world? Three of the giants in financial services have taken over services that CPAs provide to clients everyday.
A&A

Best Buy Adheres to SEC Guidelines

Well-known audio/video and computer retailer Best Buy has surfaced as the first-known company to respond publicly to the SEC's new accounting guidelines that, in most cases, organizations must report income derived on the sale of extended warranties over the life of the warranty rather than at the time of the sale.The SEC also is requiring issuers of warranties to go one step further by making the sales net commission revenues.
A&A

Forbes Spotlights 200 U.S. Best Small Companies

We promise this story will make you feel "young," at least in the world of small business and the rash of online companies.Who made the grade on this year's Forbes' Hot 200 list of small companies in America?You'll be surpised to find out. Among the biggest surprise is that there are no "dot.com" companies on the list.
A&A

Can you Guess the Financial Innovations of the Last Century?

What do you think is the most impressive financial innovation of the 20th Century? If you said credit cards, then you're in line with others who also think this is the niftiest invention of the last 100 years.Kiplinger.com conducted the poll of its readership to determine which products, services and innovations had the most impact on personal finances.
Practice Management

Tips for Timely Collections

Most of us would rather buy a new car or go to the dentist than deal with overdue collections. Although we are numbers-oriented, we fall flat when it comes to taking the initiative to collect what's due.The trick is to act fast. For example, if a receivable is just one day overdue, call immediately to find out if something went wrong. There may be a very good reason, or the sender may indeed be tardy for no good reason.Still, acting quickly will jog the sender's memory and should help with collections.
A&A

'Tis the Season to Ship - Who's the Cheapest?

In this supersonic age of getting it there on time with few moments to spare, which of the mailing services is the most economical?Kiplinger.com decided to test the waters by sending a 10- pound fruitcake across the United States. They surveyed various overnight carriers as well as the U.S. Postal Service.The results? They found that the service was mostly the same around the country, but found that the U.S.
A&A

Banks go Online for Business Loans

The Internet revolution is everywhere, and banks across the world are beginning to realize that a secure future may lie in offering loans to businesses via the Internet.A mindset must be switched in the banking industry from that of the "customer" to "small business client." With a rash of small businesses popping up daily in all corners of the planet, more and more financing is needed to operate effectively.
Practice

Move That Home Office Meeting to a Public Place

Meeting clients in public spaces is a solid alternative than meeting at your office, especially if you telecommute and that office is in your home.Although almost anyone that has a home office is proud of his or her environment, the home as "meeting space" is not always idea. There are children, of course, that can be a distraction, but so are pets and other interruptions.
A&A

KPMG Study Reveals M&A Trends and Pitfalls

Research conducted by KPMG indicates an overwhelming majority of 83 percent of mergers & acquisitions fail to enhance stockholder value.
A&A

Former Andersen Accountant Hits the Web - Big Time!

Accountants have a certain knack for analyzing a situation a bit better than the rest of the world based on their training and inert ability to see the fine points. Take Gregory Peters. He saw the forest through the trees and is making a lot of money profiting from making the Web work.Peters has taken his Austin, TX-based company called Vignette and propelled it to more than $25 million in sales.
A&A

Helping Clients Make Money With Uncle Sam

Last year the federal government spent $260 billion on outsourced services. Accounting and consulting firms have plenty of opportunities to get a piece of the pie.
A&A

Cash Balance Plans Offer Lump Sums

The announcement earlier this year by IBM rocked the planned benefits world when Big Blue changed their benefits fom a pension plan to a cash-balance plan.Employees working at IBM shouldn't feel they are alone. In fact, more than 325 companies with names like AT&T and Xerox, also have converted to cash-balance plans.Most everyone understands that the traditional pension plan thrives through employee and employer donations for the long-term.

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