Trends

Community News

For the Class of 2005, Accounting Jobs Abound

The job market for the Class of 2005 is predicted to be the best since the Class of 2000. The majors most in demand are accounting, business administration, marketing, computer science and engineering. According to Michigan State University's annual Recruiting Trends survey, economic sectors showing strength this year include: retail, wholesale, transportation (not including airlines), health services, entertainment and real estate.
Community News

Study Reveals Midwest and South Offer Best Work-Life Balance

A study conducted by Tickle Inc., an online career assessment testing company, has found workers in the Northeast fall far below other regions in many key areas of job satisfaction. Survey results show overall job happiness is strongly tied to a healthy work-life balance and strong company leadership. New England falls far below the national average in both categories, while the Midwest and South lead the country in both areas.
Community News

PCAOB Announces Leaders of Chicago, Denver Offices

The Chicago office is led by Deputy Director of Inspections, Greg Wilson. Mr. Wilson retired in December 2003 as an audit partner from Ernst & Young. He began his auditing career in 1969, specializing in the audits of publicly held retail, consumer and industrial products clients. He also served in various management and administrative positions including Director of the Chicago office audit practice and Regional Director of Human Resources. Mr. Wilson, a CPA, graduated from the University of Illinois with a Bachelor of Science degree in Accountancy.
Tax

'Dual-Rate Income Tax' System is a Good Tax Code Fix

As the President's Advisory Panel on Federal Tax Reform begins meeting this week to discuss revamping the current tax code, a new Cato Institute study proposes a simpler alternative that would have most Americans paying just 15 percent.In "Options for Tax Reform," Cato Institute director of tax policy studies Chris Edwards addresses the unnecessary complexity and inefficiency of the present system and adds that the new tax code needs to reduce the size of government.
Tax

More than a Thousand Whistleblower Cases Discarded in 2004

Washington, DC — The U.S. Special Counsel has dismissed more than 1,000 whistleblower cases in the past year, according to a letter from the Bush-appointed Special Counsel released last week by Public Employees for Environmental Responsibility (PEER). The Special Counsel appears to have taken action in very few, if any, of these cases and has yet to represent a single whistleblower in an employment case.In a letter dated February 14, 2005 and addressed to U.S.
Technology

Internet Start-ups Take on 'Personal Brand Management'

Anyone who wants to control information that is presented about them during an Internet search, now has the tools at their disposal.New Internet profiling services can help people manage what other computer users see when they look up names in search engines such as Google or Yahoo."We are moving into a world of personal brand management," Tim DeMello, chief executive of start-up Ziggs, told Washington Post columnist Leslie Walker.
Technology

California Launches ReadyReturn Tax Program

The Franchise Tax Board (FTB) last week announced the launch of ReadyReturn, a new pilot program that provides selected taxpayers with an already completed tax return. "For most people, filling out a tax return is about as fun as a trip to the dentist," said State Controller and FTB Chair Steve Westly. "With ReadyReturn, we've done the hard work for you." The FTB designed the program to ease the filing burden on taxpayers who file the simplest returns, such as those whose only source of income and tax payments are from wages and withholding.
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.

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