Trends

Tax

Survey Shows Fear of SOX Keeps Accounting Functions in U.S.

Companies are looking first to automation before moving their finance functions offshore, even as manufacturing and customer-service jobs are sent overseas.Advertisement
Community News

Big Four Firms Face Huge Potential Liability in Global Audits

Fear in the European Union (EU) of the potential collapse of one of the Big Four accounting firms surfaced this week when a briefing document, prepared for members of the EU delegation meeting in Beijing with Chinese officials on accounting and auditing issues, was shown to XFN-Asia. “The audit firms wish to have a limit of their liability, at least to acts for which they can be held directly responsible for.
Practice

Mark Your Calendar: Building a High Commitment/Performance Company Webcast

Great chief executive officers (CEOs) strive to build high commitment, high performance companies. Few companies, however, are able to do it and fewer are able to sustain.

Gas Rewards: The New Frequent Flier Mile?

For years, credit card issuers have tried to lure consumers into using their card by offering frequent flier miles. The recent dramatic rise in gas prices, however, has led some of these companies to promote gas rewards and rebates instead. The question is, how does anyone decide which card, including rewards, is best for them?Credit cards offering gas rebates should not be confused with the gas credit cards issued by the gas companies and that can be used only to purchase gas at their stations.
Education & Careers

Re-entry Programs Target Professional Women

In an effort to reach experienced professionals, primarily women who leave their positions for extended periods for personal reasons, and support their return to their careers, business schools and professional firms have initiated programs targeted to their needs. Business schools are offering these programs within their executive education departments, the Wall Street Journal says. Courses at Harvard’s Business School and Dartmouth’s Tuck School of Business include updates on finance and accounting, as well as changes in business technology.
Technology

Single Enterprise Electronic Signature Platform Helps Eliminate Paper Not Control

The first enterprise electronic signature platform supporting multiple high-volume processes and document delivery was introduced Monday by Silanis Technology.

Support for Aging Parent Care Is Looming Workplace Issue

More than 44 million Americans are caring for an aging relative and 29 million of these are employed, according to the nonprofit National Alliance for Caregiving (NAC) and AARP. The U.S. Department of Labor estimates that by 2008, “54 percent of the work force will be involved in caring for an older person,” the AARP Bulletin says.Turnover is high among these workers, many of whom are sandwiched between two generations who need care -- their young children and their aging parents.

Survey Finds Accountants Moving to Value Pricing

Accountants are moving to value pricing in which rates are based on the value perceived by the client, according to a recent survey by the Bay Street Group accounting profession marketing and research firm and to Ronald J.
Community News

New Consulting Firms Specialize in SOX Support

Opportunity has knocked for consultants in the Sarbanes-Oxley Act, and entrepreneurs are forming new firms to help companies of all sizes meet the demands of the law.
Tax

Seller-Funded Down Payment Assistance Programs are Not Tax Exempt

The Sacramento, California-based Nehemiah Corp., a nonprofit mortgage assistance program, and 184 similar programs around the country, have been accused by the Internal Revenue Service (IRS) of operating a down payment scam and are no longer eligible for tax exempt status, the Sacramento Bee reports.
Practice Management

Survey Reveals Alarming Contract Management Practices

A new AberdeenGroup analyst report reveals some alarming practices in global business today. The report The Contract Management Benchmark Report: Sales Contracts reveals that 85 percent of responding companies are using manual or only partially automated systems to manage sales contracts and 32 percent of customer contracts are not tracked, improperly serviced or forgotten entirely.
Education & Careers

Accounting and Finance Workers Show More Confidence in April

Worker confidence among accounting and finance professionals increased 2.0 points, to 110.8, during April, according to the Hudson Employment Index. This reading is significantly higher than last April’s 103.7 level.

NBTA Research Quantifies Impact of Fuel Price Increases on Corporate Travel

The National Business Travel Association (NBTA) last week provided members with the result of research designed to better understand the impact of fuel price increases on travel and quantify the responses of corporate travel managers to that impact.

SEC Cuts FY 2007 Registration and Transaction Fees

The Securities and Exchange Commission (SEC) announced last week that fees on securities transactions and registrations will be reduced by $1 billion in the fiscal year (FY) beginning October 1, 2006. Fees paid by issuers to register securities with the SEC will be reduced 71.3 percent. Fees applicable to most securities transactions will be reduced by 50.2 percent.“This is terrific news for investors,” SEC Chairman Christopher Cox said in a prepared statement. “Even by Washington’s standards, a billion dollars is a lot of money.

AICPA Committee Seeks Interstate Practice Solutions

The American Institute of Certified Public Accountants (AICPA) has created a new volunteer committee, the special Committee on Mobility, to identify unnecessary burdens and requirements blocking CPAs from easily practicing across state lines.

2006 Expected to Be Breakout Year for F&A Outsourcing

The Accounts Payable Network recently conducted a survey to obtain a current picture of outsource and off-shoring practices corporately and within accounts payable departments.
Community News

AICPA and Other Accounting Institutes Forge Global Alliance

The American Institute of CPAs (AICPA) has joined with most of the other major national accounting profession organizations around the world to create a Global Accounting Alliance.
A&A

90,000 Firms with Combined Annual Revenue of $65 Billion

The accounting and tax preparation industry in the United States includes approximately 90,000 firms with combined revenue of $65 billion, according to Research and Markets, a leading source for international market research and market data, headquartered in Dublin, Ireland.Advertisement
A&A

Electronic Payments Getting More Attention in May

This month, banks, credit unions, non-profit associations, businesses, and governments across the nation are asking consumers to increase their use of Direct Deposit and Direct payment in place of paper checks.
A&A

Young Farmers Optimistic about the Future of the Family Farm

More than 95 percent of young farmers and ranchers surveyed at the Farm Bureau’s Young Farmers and Ranchers annual meeting held in Des Moines, Iowa, last month said that they see a future for their children in farming and ranching, the Prairie Star reports. Last year 89 percent saw a future for their farms.

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