Trends

Community News

CFOs Say, Cash is Still King When Rewarding Employees

Non-monetary incentives have gained popularity as a means of rewarding employees, but financial executives recently said that cash bonuses are still the preferred method for recognizing their teams' hard work. Forty-six percent of chief financial officers (CFOs) cited bonuses as the most effective way to acknowledge a job well done.The survey was developed by Accountemps and was conducted by an independent research firm and includes responses from more than 1,400 CFOs from a stratified random sample of U.S.
Community News

PWC, Sun Microsystems Offer Identity Mgt. Solution to Help With SOX Compliance

PricewaterhouseCoopers LLP and Sun Microsystems, Inc. last week announced they will provide a joint solution to help companies leverage identity management to sustain Sarbanes-Oxley compliance, improve security and increase process efficiencies. Companies that use Sun's Java(TM) System Identity Management Suite also will gain access to PricewaterhouseCoopers' regulatory compliance and business risk management experience.
Tax

Newly Created Tax Panel Seeks Public Comment

Senator Connie Mack, Chairman of the President's Advisory Panel on Federal Tax Reform, announced at the Panel's first meeting, February 16, 2005 that the Panel is seeking public comments on the following issues:Headaches, unnecessary complexity, and burdens that taxpayers - both individuals and businesses - face because of the existing system. Aspects of the tax system that are unfair. Specific examples of how the tax code distorts important business or personal decisions.
Technology

Fraud Prevention Tops Corporate Boards' To-Do Lists

FIRSTGlobal Investigations, a division of BDO Seidman LLP, predicts that fraud prevention will top priority lists for many corporate boards in the coming year.Boards had to focus on complying with the internal control requirements of the Sarbanes-Oxley Act last year, but putting training programs in place to prevent fraud should attract greater attention this year, the Sarbanes-Oxley Compliance Journal reported.
Community News

U.S. Public Companies Changing Audit Firms at Record Pace

The Sarbanes-Oxley Act of 2002 did not require public companies to regularly change audit firms, but it seems many of them are doing so anyway.The Wall Street Journal reported on a study released Wednesday by proxy-advisory firm Glass Lewis & Co. that showed more than 1,600 public companies left their audit firm last year, which represents a 78 percent increase over 2003.Over the two-year period, 2,514 companies switched audit firms, which is nearly a quarter of all U.S.
Practice

Looming Talent Crisis Signals Need for Firms to Employ New Strategies

Impending Baby Boomer retirements, a widening skills gap driven by declining educational standards, and outdated and ineffective approaches to talent management are combining forces to produce a "perfect storm" that threatens the global business economy, according to new research conducted by the Human Capital practice of Deloitte Consulting LLP ("Deloitte Consulting") and Deloitte Research, a part of Deloitte Services LP.In a recent U.S.

Sarbanes Oxley Group Announces Professional SOX Certifications

In response to the industry's cry for certification standards for Sarbanes Oxley professionals and auditors, the Sarbanes Oxley Group recently announced the launch of its SOXBase- and SOXPro- level training and certification programs.
Technology

New Technology Gives E-Mailers Chance to Rethink Messages

Who hasn't hit send on an e-mail message and instantly wanted to get it back? Whether it contains inappropriate content or private company information, a new product aims to give users a second chance.Forbes reported that a new product from a company called InBoxer (formerly known as Audiotrieve) is on display at the Demo Conference in New York this week. The product, known as OutBoxer, scans outgoing e-mail messages looking for inappropriate content, unauthorized disclosure of information and tries to encourage senders to improve their messages before they actually send them.
A&A

Majority of Executives Claim They Don't Deserve Customer Loyalty

Companies continue the downward trend of taking their customers for granted and the overall relationship between company and customer is getting worse, according to the 2004 annual survey and Customer Experience Management (CEM) report from Strativity Group, Inc. in cooperation with CustomerSat, Inc.
Community News

RSM McGladrey Expands to Portland Oregon Market

RSM McGladrey has opened its first office in the greater Portland area of Oregon. The new office's professionals will initially focus on risk management and regulatory compliance work. "Opening the Portland area office is consistent with our growth strategy of serving more major metropolitan markets," said Mark Williams, RSM McGladrey Managing Director for Seattle.
Tax

J.H. Cohn LLP Expands New York Tax Practice

Becker & Company, LLC, a leading New York-based tax consulting firm, has combined its practice with J.H. Cohn LLP, one of the country's largest accounting and consulting firms. Founded in 1977, Becker & Company has provided tax services to family-owned businesses and their owners, publicly held companies and their senior executives, and high-net-worth entrepreneurs in New York City, Long Island and South Florida. Stuart Becker, managing partner of Becker & Company, joins J.H. Cohn as a partner and will be responsible for the Becker & Company division of J.H. Cohn.
A&A

Accounting Firm Opens Accounting, Payroll Processing Center in Charlotte, NC

Richard A. Beauchemin, CPA/Carolina Accounting & Tax Service, PLLC announced the opening of its new payroll and accounting facility. The center will provide the requisite room, equipment and infrastructure necessary to continue to produce and deliver the high level of quality services its customers have come to expect, while allowing room for expansion and growth. Richard A.
Community News

The Evolution of Accounting – Part 1

By Charles F. Benton, CPA, CEOStephen Hawking, when asked how he could still work with complex mathematical equations while confined to his immobile body, responded that numbers were nothing more than a way to portray reality. Since he no longer had the ability to physically work with numbers and equations, he must rely on his ability to mentally work with them—in other words, to think in reality.We accountants use numbers to portray the reality of an entity in financial terms. The portrayal to some is not understandable.
Tax

It’s a One-Stop Shop for Haircuts, Tax Returns

This time of year, Bill Taber’s Oak Park Barber Shop is busier with tax business than hair business. Barber Bill got the idea to combine the two after years of giving his tax advice to senior customers in the chair. He took a tax class in 1984, and his second business was born. But he stayed put. His shop has operated from the same address in southwest Indianapolis since 1967."I enjoy being self-employed," Tabor told the Indianapolis Star.
Tax

Back-to-Basics Approach Works in Michigan CPA Firm

Maddox Ungar PLLC, a small suburban Detroit CPA firm, is at the forefront of a new trend: providing accounting services to its clients.
A&A

NACM Applauds Movement on Commercial Bankruptcy Reform

The National Association of Credit Management (NACM) commends U.S.
Community News

Reznick Group's Growth Continues With Its Expansion to the Midwest

Reznick Group Managing Principal Kenneth E. Baggett today announced that Friduss, Lukee, Schiff & Co. (FLS) and Reznick Group will merge.

Real-Time Price Transparency in the Municipal Markets Implemented

Securities and Exchange Commission (SEC) Chairman William H. Donaldson last week commended the Municipal Securities Rulemaking Board (MSRB) for its implementation of real-time price transparency in the municipal market. Chairman Donaldson said, "Today is an historic moment for all municipal bond investors.

Opinion Study: Attitudes about Social Security Reform

President George W. Bush's intention to reform the Social Security system has put the issue in the spotlight again. To better assess the public's reaction to possible changes, the American Enterprise Institute recently released a new Public Opinion Study "Attitudes about Social Security Reform," by AEI resident fellow Karlyn Bowman.
Tax

Tax Preparers Put the 'Fun' in Refund

Can gifts, free address labels and $10 referral checks attract customers to a new tax preparation business?Dave and Jolinda Schreiber, owners of Refunds USA in Albert Lea, Minn., say they are making taxes more fun. After all, as Jolinda puts it, "Going to a tax preparer is like going to the dentist."According to the Albert Lea Tribune, the couple decided to start a tax business that would emphasize quick but casual service.

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