Consulting

Business Valuation Volunteers Honored by AICPA

The AICPA recently honored 10 volunteers serving the profession in the business valuation arena for outstanding service, with specific commendations given for work in developing the Accreditation in Business Valuation (ABV). The awards were handed out at the AICPA's Business Valuation Conference in Las Vegas earlier this week.Hall of Fame Awards were given to Carl M. Alongi, Edward J. Dupke, Larry R. Cook, Terry H. Korn and Gary R. Trugman. Volunteer of the Year recipients included Nancy J.
Community News

Auditing the Soft Stuff: Firms Step up to the "Touchy-Feely"

Auditing has taken on a new meaning as firms are called upon more and more to audit more than just the financials. Take BP Amoco, for instance. They called upon Ernst & Young Environmental Services Group to audit their social and ethical behavior.The reasoning behind this change in mindset stems from a growing responsibility companies feel they have to stakeholders who more than just the company's financial picture.
Technology

Internet Service Offers Expert Financial Advice

Experts knew it would eventually happen, and now the Web is talking the talk and walking the walk as a virtual source for expert advice on various financial matters.Exp.com is a Web site company that has assembled a network of qualified, degreed experts to provide fee-based consulting services to participants in a totally virtual environment.Users can either post requests directly on the site, or contact the company and negotiate with an expert directly for his or her services.

Financial Services Firms Must be Customer-Focused

If you're a CPA or accounting professional delivering financial services, then you'll want to pay attention to the results of a new study conducted by Computer Sciences Corporation that zeros in on refining customer service management techniques.The company's 12th Annual Critical Issues of Information Systems Management Study found that competition has caused companies to take a more active role in their customer's concerns.At the same time, gathering critical information on each customer, and

Help is Here in Reading Brokerage Statements

These days, CPAs also are in the financial services business, and assisting clients in brokerage is a viable service and profitable venture.But have these professionals also taken a hard look at brokerage statements? Many are very difficult to decipher to ascertain whether a profit was made or lost.Edward Jones is an example of one firm that has taken the bull by the horns (pardon the pun) and soon will enable customers to choose from three different types of account statements.

Great Plains Earns Andersen Award

Great Plains has earned the Arthur Andersen Global Best Practices Award for Strategic Leadership.

The ABCs of CFPs and Other Planner Designations

Sometimes it's very confusing trying to figure out which of the financial planner designations make the most sense. Which one should the accounting professional pursue or, in many cases, recommend to clients to seek as a referral in other planners?The first hint is not to mix up professional associations with the credentials or designations.

KPMG Develops "c-business" Activities Through New Partnership

Big Five firm KPMG has announced a new partnership with California-based Intraspect Software, Inc. to provide and resell knowledge management services.Intraspect is a provider of "c-business" (collaborative-business) solutions in Web-based collaboration tools, and will work with KPMG to help market the Intraspect Knowledge Server, along with other services to help the business community.The new venture is part of KPMG's overall business strategy in delivering online solutions to its client base.
Technology

Internet Market Looking For Strategists

The Internet economy is worth $507 billion. This Internet explosion has numerous corporations seeking, at a record rate, consulting firms to help them plan and implement e-business strategies.Consulting firms eager to cash in on the boom are quickly morphing themselves into "technically enlighted strategists." They are doing this to set themselves apart from the many boutique firms that have popped up in response to the e-commerce Web mania.U.S. Internet consulting services are expected to top $710 million for 1999 and could grow to $4.38 billion in 2003.

ASP Market Crowds Up; Partnering With Deloitte

The red-hot ASP or Application Service Provider market just heated up once again with a new contender. Designed to target small- and mid-size businesses, AristaSoft has announced it will begin offering rentable applications to J.D.

CPA or Broker: Where to Draw the Line

The ability to accept commissions is nothing new for the accounting profession. For many years, CPAs have accepted commissions as part of their line of services in brokering securities, insurance and other savings instruments--in harmony with their own accounting services.Where to draw the line and make the distinction for the public is another matter altogether. There is a substantial gray area involved.

SAP Strikes Back With Reactive Stance

SAP is prepared to defend its product with increased customer attention and a new set of consultants called "global overseers."Over the past week, the AccountingWeb newswire has run several stories regarding Enterprise Resource Planning (ERP) and the alleged mishandling of installations by PeopleSoft/Deloitte & Touche.

Required Reading For M&A Advisors

Anyone who has bought 40 companies in six years ought to know something about mergers, acquisitions and the why/how of making the purchase.Look no further than Cisco Systems' President CEO John Chambers who has made a tremendous impact on both Cisco and the high-tech world since he took over the company in 1991.
Community News

Consulting Arms of Big 5 Accounting Firms Invest in Start-Ups

These days, it seems that everyone is getting into the potentially high-profit, yet high-risk start-up arena, and the Big 5 is no exception.Just last week on October 20, AccountingWeb ran a story in which PricewaterhouseCoopers bought into Web designers Methodfive, and now it seems that Andersen Consulting has moved in a similar fashion by buying into start-up ChemConnect, the Internet's largest global chemical and plastic exchange.Analysts report that investments like these mark a r
Community News

Arthur Andersen and Andersen Consulting go to Court to Split Firms

Arbitration hearings began yesterday in New York for Arthur Andersen (AA) and its sister firm, Andersen Consulting (AC), to permanently make AC an independent firm.The hearings are the result of a two-year disagreement, and the latest court appearances with the International Chamber of Commerce (ICC) are expected to take up to two weeks.AC claims its sister firm violated a partnership agreement five years ago when it began a consulting services unit in direct competition against the Big 5 firm.Among those expe
Practice

Legal Eagles Nest at Ernst & Young

Remember when non-CPAs could not become owners of CPA firms? Times are changing ... and it looks as if Big 5 giants like Ernst & Young may be entering the legal arena some time soon.Getting around the system is the key, according to experts who understand that State Bar ethics rules prohibit non-practicing lawyers from owning or controlling law firms. As a result, E&Y is reportedly in negotiations with lawyers in the Washington, D.C.

Arthur Andersen Develops Health Care Solutions With Cerner

Arthur Andersen and the Cerner Corporation have formed a strategic alliance to improve health care delivery through various business process solutions.Cerner supplies clinical and management information, and knowledge systems, to more than 1,000 health care organizations throughout the world.
Technology

PWC Expands E-Business Services With New Partnership

The buzzword in today's marketplace is "e-business," and PricewaterhouseCoopers knows it.The Big 5 firm has announced a partnership with methodfive to provide customers an expanded portfolio of e-business services, including Web design and development, integration with a customer's other services and back-end processing.To solidify the arrangement, PWC is an equity owner in methodfive.
Community News

Deloitte Consulting and Sprint Join Forces to Service E-business

Fresh on the heels of the proposed merger between MCI and Sprint, Deloitte Consulting and Sprint today announced an effort to team the two businesses together as an application service provider (ASP) in the ever-emerging e-business sector.Services targeted to Fortune 1000 companies include e-commerce, enterprise resource planning, customer relationship management and data warehousing.

Physician Practices Losses Increase

Integrated Delivery Systems (IDS) have been reporting losses for their physician practices for years. The 1998 numbers showed a dip in the number of reporting losses and it looked like there may be a change in the trend. However, the Ernst & Young LLP 1999 Physician Practice Benchmarking Survey shows that 96% of survey respondents reported losses in their physician practices. Losses averaged $111,000 per physician.Compensation and productivity are both stalled according to the survey.

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