Human Resources

Confidence Among Accounting and Finance Workers Improves in June

After declining in May, confidence among accounting and finance workers rebounded to 110 in June, according to the Hudson Employment Index(SM). This level is lower than the 113.2 level of the previous year. In addition, the composite Index rose 0.1 point, to 102.4.The Hudson Employment Index for accounting and finance workers revealed that: Compared to May, when 21 percent of workers were concerned about job loss, only 17 percent made that statement in June.
Community News

The Business of Powwow

On a manicured, level stretch of soccer field, the drum beat begins. The eagle staff begins the procession, followed by the universal flag of American Indians,next comes the American flag, California flag, three Armed Services flags and a Prisoners Of War/Missing In Action flag. The dancers come next, representing native nations that span the western hemisphere, sharing a pride and dignity that is both difficult to describe and immediately evident. It is Grand Entry on Saturday afternoon at an Intertribal Powwow in Southern California.
A&A

Business Objects to FASB’s Plan for Measuring Future Pension Costs

Participants in a public roundtable held on Tuesday, June 27, at the Financial Accounting Standards Board (FASB) headquarters in Norwalk, Connecticut, engaged in heated debate on FASB’s plan to use a projected benefit obligation (PBO) metric for measuring pension liabilities that will appear on the balance sheet according to a revised standard, rather than the accumulated benefit obligation (ABO) that most companies prefer.

States Facing ‘Unmanageable’ Retiree Health-Care Liabilities

A new accounting standard has states and local governments worried about their ability to borrow money, while employees fear their benefits may be cut.Advertisement
Community News

Auditors Spotlighted As Options Scandals Come To Light

Auditors are in the spotlight as the number of stock-option scandals expands. It seems the manipulation of option prices was more common than previously believed.

10 tips for negotiating workplace conflicts

Conflict happens. It happens in all areas of business. Disputes can arise between employees, between business partners, between a company and a client. And if such issues are not settled, bad things can happen. Good people quit. Profitable relationships dissolve. Great companies go under. This has always been true, of course.
A&A

Time for a summer financial check-up

The lazy days of summer offer a great opportunity for small business owners to take stock of their company’s finances and make any necessary changes to their financial projections, especially their estimated tax payments.“You don’t want to pay in more than you have to,” Gordon Spoor, a certified public accountant (CPA) in St. Petersburg, Fla. told the Associated Press. Funds used to overpay could be better used within the company. More information about federal estimated tax payments can be found in Internal Revenues Service (IRS) Publication 505.
Community News

VA Uses Accounting Gimmicks to Formulate 2006 Budget

A report by the Government Accountability Office (GAO) has found that the Department of Veteran Affairs (VA) has used untested management efficiencies in their budget calculations for the VA health care system, according to the Molokai Island Times. Senator Daniel Akaka (D-HI) is the ranking member of the Senate Veteran’s Affairs Committee. The Molokai Island Times reports that he and his House counterpart, Rep. Lane Evans (D-Ill.) initially requested the audit to confirm the VA funding process.
Community News

AccountAbilities, Inc. Increases Credit Facility, Expands Markets

AccountAbilities, Inc., an established provider of financial personnel staffing services, professional marketing services, and management consulting services to certified public accounting (CPA) and other professional firms, announces an increase of their credit facility with Action Capital, from $2.5 million to $5.0 million.
Tax

Governor Arnold Accused of Pandering to Accountants

California Governor Arnold Schwarzenegger is under attack from the press and a public interest group for allegedly pandering to the accounting profession.The Los Angeles Times claims that recent actions by the California State Board of Accountancy “underscore the political clout of the accounting profession,” which the newspaper says has contributed about $500,000 to campaign funds that support Schwarzenegger’s political agenda.
Technology

New York’s Revised Telework Tax Policy Called “Useless”

The Telework Coalition (TelCoa), a telework advocacy group headquartered in Washington, D.C., has denounced revisions New York State recently made to its telework tax policy as “misleading” and “useless.” Both TelCoa and another telework advocacy group, The Association for Commuter Transportation (ACT), have reaffirmed their call to Congress to protect Americans who telecommute to out-of-state employers by passing the Telecommuter Tax Fairness Act (S. 1097, H.R.
Tax

Correct Worker Classification Essential for Avoiding Penalties

The rash of natural disasters occurring across the nation has caused many businesses to add staff to meet increasing demand for goods and services.
Technology

New iVantage to Include Succession Planning Module

Spectrum Human Resource Systems Corp. plans to release iVantage(R) 3.6 on June 25, 2006, at the Society for Human Resource Management Conference in Washington D.C..

CFOs Expect More Hiring During Third Quarter

Chief financial officers (CFOs) anticipate increased hiring activity in accounting and finance in the third quarter, according to the most recent Robert Half International Hiring Index.
Practice Management

AICPA Announces FlexWise to Help Members with Flexible Work Arrangements

Leslie Murphy, chair of the American Institute of Certified Public Accountants (AICPA), formally announced the FlexWise program during her presentation Monday at the Institute’s Practitioners Symposium in Las Vegas.As employers across the country deal with retention issues, more and more are turning to flexible work arrangements to keep talented employees.
A&A

FASB Pension Draft Draws Fire

The Financial Accounting Standards Board (FASB) issued an exposure draft Employers’ Disclosures about Pensions and Other Postretirement Benefits that required all written comments for the proposal be submitted by May 31, 2006. That is exactly what they got. CFO.com reports that the draft is stage one of two stages designed to overhaul retiree benefits accounting.The FASB received some 112 letters from senior management and other corporate executives voicing strong opposition to the implementation of these changes.
A&A

A Conversation About Equity Incentives with Jonathan Miller

Companies are not doing away with stock options. Jonathan Miller, President of Plan Management Corp. of Ardmore, Penn., recently sat down with AccountingWEB to discuss the present and future of options regulations and their impact on financial planning and reporting. Plan Management Corp. helps companies account for all forms of equity incentives, including stock options, restricted stock, stock appreciation rights (SARs) and stock purchase plans. “There was an initial impression that stock options were going to disappear, but we haven’t noticed that," Miller told AccountingWEB.com.

Racing Economics: Horse Tales

Purchasing a racehorse is a risky investment in which the odds of hitting it big for most owners are about as long as getting an entry into this weekend’s Belmont Stakes.Even for the high rollers who pump millions of dollars into the sport, the sheer enjoyment of competing often outweighs grandiose visions of handsome paydays, said Dan Metzger, president of the Thoroughbred Owners & Breeders Association in Lexington, Ky.
Community News

IFAC Seeks Nominations to International Accounting Education Standards Board

The International Federation of Accountants (IFAC), the global organization for the accountancy profession, is seeking nominations for a public member for the independent International Accounting Education Standards Board (IAESB).

SEC Calls for Greater Disclosure of Executive Pay, Probes Options Dating

With companies now required under FAS 123 to disclose the value of stock option grants on their income statements for fiscal years beginning after December 15, 2005, the Securities and Exchange Commission (SEC) and members of Congress are pressing for more detailed disclosure of total executive compensation.

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