Trends

A&A

AICPA Survey Says: Accounting Executives Losing Confidence

The latest Business and Industry Economic Outlook survey from the American Institute of Certified Public Accountants (AICPA) indicates that certified public accountants (CPAs) in the C-suites of corporate America are increasingly pessimistic.
A&A

Major Changes Ahead for Multiemployer Pension System

Of the 44 million Americans participating in defined benefit pension plans, 25 percent, approximately 9.4 million, are enrolled in multiemployer plans maintained by more than one employer, usually within the same or related industries and a labor union, according to the Pension Benefit Guaranty Corporation (PBGC). Many are employed by small companies in the building and construction industries.
Tax

Online Payroll Services Adding to CPA Firms’ Profits

Payroll services based on new internet technologies have become profitable for many accounting firms, contribute to efficiency at tax time, and provide a hook to pension plan services, making payroll service a much better source of revenue than it was five years ago, according to the Journal of Accountancy.
A&A

Labor Day Report Shows Why Energy Reform Must Become National Policy

The National Association of Manufacturers’ (NAM) annual Labor Day report, released on Monday, shows that while manufacturing production increased at its fastest pace in six years and jobs on the factory floors have posted their strongest gains since 1998, soaring energy costs are hurting workers at the pump and in their paychecks.Advertisement
Practice

Layoff Worries Hit Record Low Among Accounting & Finance Workers

Worker confidence among accounting and finance professionals rose 5.9 points, to 112.5 in August, according to the most recent Hudson Employment Index. The current level is more than ten points above the level of the previous August.
Community News

Consolidation Ahead for Accounting Firms

Stricter regulations and slower economic growth continue to impact America’s accounting industry, causing many firms, especially mid-sized firms, to see mergers and acquisitions in the future, according to a new survey from IBISWorld, leading publishers of business research and analysis.
Tax

States Levy Wide Range of Taxes on Gasoline

Gasoline prices in the U.S. continue to average around $3.00 a gallon. Of that $3.00, 50 cents is tax paid by the consumer. This total tax includes a flat federal excise tax of 18.4 cents per gallon, state gas taxes and depending on the state, sales taxes, local sales taxes, and a variety of fees.
A&A

The Magic of Ethanol

Ethanol is a magic elixir. The corn-based gasoline additive is enjoying the record-setting prices. Those manufacturing ethanol are seeing booming sales and recording record profits as well, according to SmartMoney.com.

Dirty Secrets of Bankruptcy Lawyers

The field of bankruptcy law has exploded in recent years, even though the process of filing for bankruptcy really only involves filling out a few forms.

Survey Says: Doctors, Teachers and Accountants Tell the Truth

A recent Harris Interactive poll of 1,002 adults in the United States found that 85 percent would trust their doctors to tell them the truth, up from 77 percent in 2002, the last time the survey was conducted.

More Than Ivy in U.S. News’ College Rankings

Breaking a three year tie with Harvard, Princeton ranked first among National Universities in U.S. News and World Report’s annual guide “America’s Best Colleges”. It is the seventh straight year Princeton had been at least tied for the top ranking.
Education & Careers

Going Once, Going Twice: A New Paradigm for Accounting Professionals

A new company is trying to change the way businesses find and hire accounting, auditing and information technology services.Advertisement
Tax

E-Passports Now Being Issued to Americans

The U.S. State Department has begun issuing e-passports. These passports have radio frequency identification (RFID) chips embedded in the rear cover of the document. AFP reports that all previously issued passports will remain valid until they expire.

IFAC Publishes New Paper on Ethics Education

“The paper is the result of a wide-ranging research project into ethics education in the worldwide accountancy profession. It is designed to stimulate discussion and debate on the subject of ethics education,” states International Accounting Education Standards Board (IAESB) Chairman Henry Saville.
A&A

New Texas Margin Tax -- Business or Income Tax

Candidates for governor in Texas last week reacted to the Financial Accounting Standards Board’s (FASB) conclusion that the new Texas margin tax was an income tax under Financial Accounting Standards (FAS) 109 “because the tax is based on some measure of income.” FASB declined to set up a project to give advice on the matter.Kathy Walt, spokeswoman for Republican Governor Rick Perry, and former state Comptroller Democrat John Sharp, who headed the commission that recommended the tax, said that FASB was providing instructions for accounting purposes only, according to the Houston Chro
Practice Management

To Boost Productivity Companies Turn to Strategic Workforce Planning

“In many companies, traditional workforce planning was an onerous process that HR Imposed on management,” says Mary B. Young, Senior Research Associate with The Conference Board and author of a new study on strategic workforce planning. “Too often, the net result was a humongous report, blinding spreadsheets and a dizzying amount of data that provided very little value to the business.”The relatively new field of strategic workforce planning, however, involves analyzing and forecasting the talent that companies need to execute their business strategy.
Technology

Sales Tax Holiday Weekend a Big Hit with Shoppers

Shoppers in ten states and the District of Columbia flocked to stores and malls last weekend to take advantage of “sales tax holidays” timed to benefit back-to-school-shoppers. Two more states, Connecticut and Maryland, have scheduled sales tax holidays during the third week of August. In most states, the tax holiday applies to moderately priced clothes, school supplies and in some states, to computers.
A&A

Accenture Closes Acquisition, Enhances BPO Services

Accenture has enhanced its finance and accounting business process outsourcing (BPO) capabilities by closing the previously announced acquisition of Advantium Inc., including related entity XPAN LLC, and Meridian Informed Purchasing Ltd.
A&A

AICPA Launches Revamped Online CPE Site

The American Institute of Certified Public Accountants (AICPA) in May rolled out a much faster and user friendly training and library Web site, called CPExpress, formerly known as Infobytes. Feedback is extremely positive, say Dr. Paden Neeley, AICPA Vice President of Group Study and David Tolson, Director of CPE Product Development, who spoke with AccountingWeb recently about how the AICPA’s online CPE offerings and other training options meet the needs of small and mid-sized accounting firms. CPExpress is much faster than the previous site, says Tolson.

Students Getting Sticker Shock from Textbook Prices

Students entering college in 2006 can expect to pay more than $500 for textbooks for their first semester courses, a huge outlay of cash for many who have already taken out student loans to pay for tuition and fees. University of Connecticut freshman Ben March returned to UConn’s Co-op bookstore for an accounting textbook last February, after having already spent $400 on other textbooks. The book cost $101. “I was trying not to buy it, but I ended up needing it," March said, according to boston.com.

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