Trends

A&A

Mobile Security Market: Preparing for Dynamic Growth

A new study found that an increasing market for mobile security products, including anti-virus, virtual private networks (VPN), data and file encryption and mobile identity management applications, is expected to reach almost $5 billion, installed in 247 million phones by 2011. Juniper Research, specialists in providing quality analytical research reports and consultancy services to the telecom industry, gathered information from some of the fastest growing mobile security providers to gain insight into the current and future market.
A&A

Accounting Rules Allow “Spring-loading,” “Bullet-dodging” Option Grants

The government will not have any accounting basis for enforcement actions against companies for “spring-loading” or “bullet-dodging” stock option grants, according to Scott Taub, deputy chief accountant for the U.S. Securities and Exchange Commission (SEC ). Taub spoke at a Financial Accounting Standards Board (FASB) advisory council meeting in New York on Tuesday, Reuters reports.
A&A

Examining the Financial Health of America's Pastime

Despite the cloud of suspected steroid use that continues to hover over baseball, the sport seems to be financially healthy — at all levels.Representatives of Little League Baseball and Softball in Williamsport, Penn., the National Collegiate Athletic Association in Indianapolis and Major League Baseball in New York City, all report recent growth in revenue or profit.Advertisement
Technology

E-tutoring Now Available to Accounting Students

Accounting students, struggling with a problem in the middle of the night, can now get live help from one of the new online tutoring companies.Based in India and the U.S., these firms employ tutors from around the globe, using a combination of Voice over Internet Protocol (VoIP), instant messaging (IM) and a virtual white board to which the student and the tutor both have access, Reuters reports. Smarthinking.com provides tutoring through individual accounts, college and institutional accounts and its partnership with the publishing company, Houghton Mifflin, Co.
Technology

The Paper Trail Isn’t Dead, Yet

The demise of paper has been predicted for decades. Paper, however, is proving more durable, and important, than many imagined, particularly in the wake of history’s largest corporate scandals. The 29 million short tons of printing and writing paper consumed in the U.S.
Technology

Sony Will Recall Batteries; CPSC Offers Tips for Safe Notebook Use

Toshiba Corp. announced on Friday that it would recall 830,000 batteries manufactured by Sony in response to a statement by Sony that it would initiate a global recall of all its battery packs, PC Magazine reports. This followed Thursday’s announcement by IBM and Lenovo Group that they will recall 526,000 rechargeable lithium-ion Sony batteries purchased with ThinkPad computers.
Education & Careers

Study Finds Young Workers Displaced by New Immigrants

That the arrival of new immigrants in a state results in a decline in employment among young native-born workers in that state is just one of the stark images revealed by the authors of The Impact of New Immigrants on Young Native-Born Workers, 2000-2005.

States Must Report Health Care Liabilities for Retired Employees

State and local governments, long generous to employees with promises of health care in retirement, often in exchange for pay increases, are struggling to estimate these costs for financial statement purposes, according to new rules issued by the Government Accounting Standards Board (GASB).
Practice Management

For Gen Xers, Success Means Balance

Businesses today are facing generation issues as baby boomer managers, born between 1946 and 1964, try to figure out why the Generation Xers, ages 27 to 41, don’t have the pay-your-dues attitudes they do, Kentucky.com reports. Miami accounting firm owner Richard Berkowitz found that out quickly during tax season.

Study Reveals Recruiting and Retention Trends, Employee Perceptions

The second annual Employment Dynamics and Growth Expectation (EDGE) Report released late last month by Robert Half International (RHI) and Careerbuilder.com shows hiring managers and employees with very different perceptions of the job market. Recruiting is more challenging today than one year ago, hiring managers say, with 81 percent reporting difficulty in finding qualified candidates, up from 55 percent last year. Employees, however, are less likely to negotiate higher salaries today. Only 12 percent of employees plan to seek higher salaries in 2006, down from 20 percent in 2005.
Tax

Enron Ex-Vice Chairman's Estate Must Return $1.3 Million

Judge Arthur Gonzalez of the U.S. Bankruptcy Court in Manhattan ruled late last week that deferred compensation payments made in the months preceding the company’s fall, to John Clifford Baxter, the former vice chairman of Enron Corp., favored Baxter over other creditors. Baxter received $1.3 million of the $1.4 million he had in his deferred-compensation account on September 30, 2001.

4 of 5 Executives Consider Outsourcing Pension Plan Management

Major changes in pension plan rules are fueling a trend toward outsourcing plan management, with 81 percent of executives responding to a Quick Poll reporting they will consider it. The results of the poll, released on Monday, also indicate that 42 percent of participating U.S. and Canadian plan sponsors remain committed to their defined benefit plans. 
Practice Management

IMA Reintroduces Statements on Management Accounting

The Institute of Management Accountants (IMA) has reintroduced the IMA’s Statements on Management Accounting (SMAs) representing a comprehensive summary of specific bodies of knowledge defining competency in management accounting.
Community News

Succeeding in a Varied Business Culture

Today, many people do business outside of their own country, either in person or by some form of communication, and this can prove to be a dicey proposition. Even in the United States there are differences in customs between states and regions.
Community News

Utah CPAs Oppose Dual Track Income Tax Plan

The Utah Association of Certified Public Accountants last week sent a letter to Governor Jon Huntsman, Jr. criticizing the governor’s proposed two-option income tax plan scheduled for a vote in a special session of the state legislature later this month. “There is no question that true tax reform is needed in the state of Utah", the letter said, according to the Salt Lake Tribune.
Technology

Closely Held Companies Adopting Sarbanes, Increasing Demand for Auditors

Privately owned companies, although not bound by the requirements of the Sarbanes-Oxley Act (SOX), are feeling the effects of the law in specific areas of their businesses, as well as the impact of widespread public commitment to stronger internal controls that the law has helped to create.
Tax

Investing in Real Estate After the Boom

Real estate is pricey these days but is still a valuable commodity, says Linda Stern, writing for Reuters, and one alternative to buying a house for investors is purchasing shares in a real estate investment trust that owns commercial or apartment real estate (REIT). Another alternative offered by the Chicago Mercantile Exchange (Merc) is commodity-style trading on housing futures and options in select cities.
Technology

Microsoft Releases Small Business Accounting, beta Version

The beta version of Small Business Accounting 2006 was released last week by Microsoft, with new online capabilities and a new, simpler name, Office Accounting 2007. The beta adds integration with PayPal, Equifax, and eBay, allowing “online marketplace integration and online invoicing” in an effort to address the “pressure . . .
A&A

Confidence Off Nearly 40 Percent in Construction/Contractor Industry

The past three months have seen confidence among the construction and contractor industry fall by nearly 40 percent, according to the most recent International Profit Associates Small Business Research Board (IPA SBRB).
A&A

Option ARMs Bring Pain to Borrowers and Mortgage Industry

Some mortgage industry experts estimate that as much as one-half trillion dollars’ worth of adjustable rate mortgage loans (ARMs) are scheduled to reset this year, the Washington Post reports. Many will be the nontraditional Option ARMs which allow borrowers to choose to make minimum payments, less than the actual interest on the mortgage, for up to 60 months. The portion of the interest not paid in the Option ARM is added to the principal of the mortgage, and the borrower’s total debt just gets bigger each month, a negative amortization.

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