CFO

A&A

12 Tips to help small retailers thrive in a recession

Less red meat, more spaghetti. Fewer first-run movie tickets, more DVD rentals. Skip the Starbucks latte, sip a McDonald's coffee. As the economy sinks into a recession, people from Seattle to St. Petersburg are adapting their spending habits to adjust to increased prices in all types of consumer goods and services. So, how can small retail stores survive ... and even thrive ...
A&A

FASB issues Statement No. 163, Accounting for Financial Guarantee Insurance Contracts

Last week The Financial Accounting Standards Board (FASB) issued FASB Statement No. 163, Accounting for Financial Guarantee Insurance Contracts. The new standard clarifies how FASB Statement No. 60, Accounting and Reporting by Insurance Enterprises, applies to financial guarantee insurance contracts issued by insurance enterprises, including the recognition and measurement of premium revenue and claim liabilities. It also requires expanded disclosures about financial guarantee insurance contracts.
A&A

Starting your own business in 30 days

Can you start your own business in a month? Experts say it's possible if you follow these steps.But first, you must invest a lot of time into research that will help you make some key decisions up front. Experts advise tapping the expertise of your local Service Corps of Retired Executives (SCORE) chapter.
A&A

Teresa S. Polley named president of Financial Accounting Foundation

Robert E. Denham, chairman of the Financial Accounting Foundation (FAF) Board of Trustees, has announced that Teresa S. Polley has been named President and Chief Operating Officer of the FAF, effective immediately. Polley had been serving as Chief Operating Officer on an interim basis for several months."We are delighted to recognize Terri's impressive leadership in naming her as President and COO of the FAF," said Chairman Denham. "For 20 years Terri has served the organization in a variety of roles, adding value to everything she has touched.
A&A

How To Jump Start Your Week - Take Action

Sometimes getting started can be the toughest part of the day, especially on Mondays, or even worse, returning from that week long vacation!Below are some ways to ensure that you get moving quickly and effectively.
A&A

Symposium addresses current state of businesses owned by women of color

The dynamics of the intersection of race and gender were the focus of research findings released last week at the national symposium, Research to Roadmap: Accelerating the Growth of Businesses Owned by Women of Color convened by the Center for Women's Business Research. The research is the first release of the results of a multi-year study conducted by the Center for Women's Business Research in partnership with Babson College exploring the impact of race and gender on the growth of businesses owned by women who are African-American, Asian, Latina and other ethnicities.
A&A

Fraud 101: Small business at risk

FRAUD: 1. Intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right 2. The act of deceiving or misrepresenting. That's how Webster's Dictionary defines the word "fraud"Business fraud and abuse costs have reached $400 BILLION dollars a year. That equates to $9.00 per employee, per day. Pretty incredible isn't it! It appears that the work force today has become Ethically Challenged. Who's the most at risk? The answer, small businesses.Fraud is difficult and often impossible to prevent.
A&A

FASB releases GAAP Hierarchy Statement 162

The Financial Accounting Standards Board (FASB) has issued FASB Statement No. 162, The Hierarchy of Generally Accepted Accounting Principles. The new standard is intended to improve financial reporting by identifying a consistent framework, or hierarchy, for selecting accounting principles to be used in preparing financial statements that are presented in conformity with U.S.
A&A

TIGTA report: Few businesses claimed telephone tax refund

Less than 6 percent of business taxpayers claimed the one-time-only telephone excise tax refund when they filed their 2006 tax returns.That's according to a report released Thursday by the Treasury Inspector General for Tax Administration, which was requested by the IRS to conduct an audit of the program. Even though between 13.9 million and 15.9 million business taxpayers were eligible to claim the refund, only 5.6 percent made the claims as of November 2007.
A&A

SBA offers free online training course on franchising

Entrepreneurs considering franchising can now access a new online course from the U.S. Small Business Administration and FranNet to help them navigate the competitive franchise industry.The introduction to franchising course, Franchising Basics, is a free online seminar which provides three key sections that examine more than 10 essential areas relating to franchising, including, "Is Franchising Right for You?" and "How to Choose the Right Franchise." The course also covers franchising options, strategies for growth, and pitfalls to avoid.
A&A

Female entrepreneurial activity dropping sharply

The rate of entrepreneurial activity among women dropped sharply in 2007 while the activity rate among men and immigrants surged, according to a national assessment of entrepreneurial activity by the Ewing Marion Kauffman Foundation.According to the Kauffman Index of Entrepreneurial Activity, the only annual study to measure business startup activity for the entire United States adult population at the individual owner level, 495,000 new businesses per month were started in 2007 with 0.30 percent o
Practice

How to handle difficult people

A bully at your work is difficult for you to face. He is demanding you do part of his job without pay or credit. How do you handle it?Your neighbors are constantly fighting. They wake you up in the middle of the night with their screams and curses. What do you say to them?Your father is unhappy about your career choice. He constantly criticizes your work and points out what he thinks you should do. How do you deal with him?
A&A

New small business video contest offers large cash awards

Aspiring filmmakers can win $5,000 in cash and an all-expenses-paid trip to Washington, D.C., in a new "Small Business Works for America" video contest sponsored by America's leading small business association, the National Federation of Independent Business (NFIB).Video artists simply need to create a 30-second clip that answers the question, "Why does small business work for America?" and submit the video to NFIB. After an initial review, entries will be posted on the NFIB YouTube channel where viewers can rate them.
A&A

IRS launches campaign to help new small businesses

The Internal Revenue Service has launched a year-long campaign to help educate new self-employed small business owners about federal tax responsibilities and about filing Schedule C, Profit or Loss from Business.One of the biggest challenges faced by people starting out in business is understanding and meeting their tax filing requirements," said Kathy Petronchak, commissioner of the IRS's Small Business/Self-Employed operating division. "It's a new, different and potentially overwhelming experience for them.
A&A

FASB forum to consider use of global accounting standards by U.S. companies

The Financial Accounting Foundation (FAF) and the Financial Accounting Standards Board (FASB) announced Friday that they will host a forum entitled High-Quality Global Accounting Standards: Issues and Implications for U.S. Financial Reporting. The purpose of the forum is for the FAF and the FASB to open a dialogue with constituents about whether and how to continue to move the U.S. toward high-quality global accounting standards, the FAF and FASB's press release says. The forum will take place Monday, June 16, 2008, from 9 a.m. to 4 p.m., at Baruch College, in New York, NY.
A&A

Top 10 ways to motivate your employees this summer

Just in time for summer, Gevity, which serves as a full-service human resources department for small and mid-sized businesses, has provided its "Ten Ways to Motivate Your Employees This Summer" list. Compiled from Gevity research as well as existing research on this topic, the list provides a fun and helpful way for small business owners to motivate their employees as the warm - and often slower - summer months approach.
A&A

Choosing a business structure

Many small businesses start to rethink their business structure at this time of year, right after filing a tax return and learning how much tax they owe for the preceeding year.
A&A

It’s easy being green: Five ways to go green In 2008

By Raissa EvansCompanies around the world are now on the “going green” bandwagon for a number of reasons. Some do it for the sole purpose of marketing “green,” others do it for tax incentives. However, very few do it because it is the right thing to do for their clients, employees, and the environment.While not all green initiatives will save your business money, cost you nothing or get you more customers, having a green business can align good business sense with community objectives, branding, and reputation.
A&A

Etiquette 101: Tips from 'The Collection Coach'

By Richard B. LedererAs business owners, we sometimes find it hard to collect money that’s owed to us. We may find asking uncomfortable and so we postpone. As with most disliked tasks, the more we delay, the more reluctant we become to tackle the chore. Stress builds; cash flow slows.
Tax

Business Tax Index 2008 ranks state tax systems

With April 15, "Tax Day," just behind us, the Small Business & Entrepreneurship Council (SBE Council) has published the "Business Tax Index 2008: Best to Worst State Tax Systems for Entrepreneurship and Small Business," ranking the states according to the costs of their tax systems for small business start up and growth.SBE Council President & CEO Karen Kerrigan said, "Entrepreneurs and small businesses have to struggle every day with the costs of taxation, which affect a wide array of decisions, including hiring, investment, expansion, and location.

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