Economy

Community News

Deloitte Returns to NY Financial Center After Terrorist Attacks

Undeterred by the acts of evil and violence that marked September 11, 2001 as a day of infamy, Deloitte & Touche (D&T) has begun returning its partners and employees to refurbished offices in the lower Manhattan financial district. The offices at One World Financial Center that served as the firm's regional headquarters since 1993 were destroyed in the terrorist attacks.Looking Forward to Revitalization
Community News

Auditor Independence: Is This Really The Answer That Will Make It Work?

By Robert G. Epstein, CPA, President and CEO, CareerBank.comIs Auditor Independence really the answer that will make it all work? This is an age-old question of the accounting world, and there are no easy answers. In simpler times, the fear of being publicly humiliated by losing your CPA license and having to sit for the 3-day exam again was enough to keep most CPAs clean. Well, times have certainly changed! With auditor independence and the Enron-Andersen issue dominating industry discussions, that no longer seems to be the case.
Tax

Businesses Need to Act Fast to Take Advantage of Tax Breaks for 2001

The following article is provided courtesy of CCH, Inc.Small Businesses Stand to Gain From Job Creation ActAfter months of political battling and partisan gridlock, Congress finally got their act together and, in a flash, passed an economic stimulus tax package.

The World's Billionaires, According to Forbes

The 2002 Forbes' 16th annual world's billionaire ranking is out. In 2001, there were 538 billionaires, and in 2002, that number dropped to just 497, what a shame. No surprise, Bill Gates, Founder, Chairman and Chief Software Architect of Microsoft remains in the number one position where he has been for five years running.
Technology

Survey Stresses The Need For Privacy Policy Verification

"GUARANTEE my privacy and I'll be inclined to buy from you" is the message that consumers are sending to American business - both in an offline and online environment.In a recent survey conducted by Harris Interactive on behalf of Privacy & American Business, and sponsored by the AICPA and Ernst & Young, consumers were loud and clear on two issues:1. We don't trust businesses in general2.

IBM's Accounting Ripples Through Wall Street

Questions about accounting at IBM resulted in analysts expressing worries about the value of Big Blue's stock, and the resulting ripple sent the Dow Jones industrial average down 1.6 percent on Tuesday. IBM share prices dropped to below $100 on Tuesday after a report in Friday's New York Times raised the issue of how the earnings on a $300 million gain were reported to shareholders.
Education & Careers

The Well-Traveled Accountant - The Value of International Experience

Accepting that transfer to your company’s Paris office could have far-reaching career benefits, according to a recent survey. Fifty-six percent of chief financial officers (CFOs) polled said international experience will be at least somewhat necessary for accounting and finance professionals five years from now.
Community News

Alternatives to Layoffs in Hard Economic Times

By Bruce Katcher - You can't pick up the newspaper today without reading about yet another organization that has decided to improve their bottom line by conducting a major layoff. Layoffs, however, have many negative consequences. There are huge financial costs associated with layoffs including legal fees, severance packages, outplacement expenses, increased unemployment insurance, damaged customer relationships, and negative public relations.  
Practice Management

Estate Planning Services on The Rise

The September 11 terrorist attacks, which cut down thousands of people in their prime, have caused many Americans to examine what would happen to their families if they were to die unexpectedly.

Payroll Group Proposes Alternative to Tax Holiday

While Congress is mulling over the possibility of offering a holiday from Social Security tax for the month of January as an impetus to stimulating the economy, the American Payroll Association warns that such a tax hiatus would wreak havoc with payroll tax return filing requirements, payroll calculations, and payroll software programs."This is not a political assessment, but one based on the realities of processing payroll and maintaining compliance.

U.S. Economy - Recession is Official

Members of the National Bureau of Economic Research (NBER), the group responsible for tracking the nation's business cycles, have announced that the United States is officially in a recession. This marks the first U.S. recession in a decade and the 10th since World War II.Noting that the terrorist attacks may have pushed what was a slowing economy over the edge into official recession, the group maintains that all the pieces were in place for a recession to begin before the attacks occurred.

Plan for National Sales Tax Holiday is Shelved

A Congressional push for legislation that would stimulate holiday shopping by providing a national sales tax holiday has met with delays that will likely prevent the holiday from occurring before the end of the year.Although many Senators favor the proposed amendment to a national economic stimulus package, the topic probably won't be discussed in the Senate again until later this week at the earliers.

School Loan Payments Put on Hold

In light of the terrorist attacks that occurred last week, the nation's banks and the Education Department have announced plans to postpone or reduce required payments on federal college loans.Banks will postpone or reduce payments on school loans until January 31, and borrowers who need an extension beyond that date may request such extension by writing to the bank that hosts the loan.

Stock Market Remains Closed, Bond Trading Reopens

The U.S. stock market will remain closed on Thursday. New York Stock Exchange Chairman Richard Grasso has indicated that equity markets will resume trading no later than Monday, and may resume on Friday.Mr. Grasso stated, "It is clearly the goal to bring this market up as quickly as humanly possible."Fears for a steep drop in stocks when the market reopens have been assuaged by the performance of the European market, which ended higher on Wednesday.
A&A

Characteristics That Make a Successful Entrepreneur

Do you have what it takes to be an entrepreneur? Entrepreneurs are like everyone else - the difference is they usually have stronger feelings and express themselves more strongly that those less likely to strike out on their own. If you are going to risk your money and time in your own business you must have a strong feeling that you will be successful. These strong feelings may also cause problems. If you want to start your own business, you probably have mixed feelings about authority.

The Basis of Business Survival

by Rod Johnson of AMR ResearchThis article is excerpted from an article that originally appeared on our sister site, www.crm-forum.com"As long as repeat business is important, and as long as customers have a choice to go somewhere else, companies must deliver the highest levels of customer satisfaction in order to stay in business." This simple-yet-powerful observation by University of Michigan Business School Professor Claes Fornell, one of the world's leading experts on customer satisfaction measurement, ri
Community News

KPMG Picks Up PricewaterhouseCoopers' Pieces

In the latest of a series of divestitures of smaller U.S. offices, Big Five firm PricewaterhouseCoopers has announced a tentative agreement to sell its Virginia Beach, Virginia, practice to rival KPMG. It is expected that all 30 employees of this office will join KPMG.

Ten Amazing Statistics On The Changing World Of Work

Current economic times are leading to a variety of challenges for employers. From the shrinking labor force, to retention, to the "free agent" mentality, the world of work is changing fast and furiously. "As we work in the trenches helping companies plan for and manage the talent they will need to compete, the myriad issues facing today's employers is virtually unparalleled," says Caela Farren, CEO of MasteryWorks.
Tax

Wal-Mart Customers Spending Rebate Checks

The first wave of income tax rebate checks has been mailed by the Treasury Department and received by taxpayers whose Social Security numbers end in 00-09. Checks to taxpayers with Social Security numbers ending in 10-19 are being mailed this week.

Accounting Job Market is Picking Up

When the economy takes a downturn, people turn to the number crunchers to make things better. This translates into more and better jobs for those with a financial background. Enter the accountants. As business schools are decrying the decline in attendance in their accounting programs, the need for those who can generate and understand the numbers is growing.Many graduates are reporting multiple job offers and ease of finding jobs in this troubling economy.

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