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Technology

COMDEX Gadget Recap

By Roman H. Kepczyk, CPA, CITPInfoTech Partners North America, Inc. walked the floors of COMDEX and attended a variety of panel discussions to bring you first hand experience in regards to the tools and technologies slated to hit the market in the next year. Amongst the strongest trends were: tablet computing, security, wireless technology, and a changing of the PDA guard. In addition, we have featured some of the goofiest techs and tools to show you that the concept of “medicated creativity” may still be around.

More Enron Fall-out - Corporate Governance Ratings

In another wave of post-Enron fall-out, GovernanceMetrics International (GMI), a new rating agency, released its first report of corporate governance rankings covering the S&P 500. Several established rating agencies are expected to follow suit in 2003 by issuing similar rankings.GMI says its initial subscribers include institutional investors, including mutual funds, money management firms and pension funds.

Former SEC Chairman Rails Against Accounting Profession

In a recent webcast, former Securities and Exchange Commission (SEC) Chairman Arthur Levitt railed against the accounting profession, said the problems extend well beyond a "few bad apples," and conducted a real-time poll of CFOs and senior financial executives to prove his points. "In general, accountants are fair, decent, hard working, unappreciated people," said Mr.

New York City Hosts Blitz of Post-Enron Conferences

Why are out-of-towners teeming into Manhattan for the holidays this year? It could be the opportunity to do some Christmas shopping along Fifth Avenue, take in a matinee at Radio City Music Hall, or catch a Knicks game at Madison Square Garden... But, no, the hottest tickets in town this holiday season are to the many booming post-Enron conferences.The price tags of these events range from free to $2,000 per attendee. Many are held at posh hotels and clubs.
Community News

Grant Thornton Ranks Top Middle Market Concerns

Research by Grant Thornton identifies business planning in uncertain times as one of the top concerns of business owners and executives of middle market companies.

Growing Demand For Pre-Deal Audits Slows M&A Activity

In the aftermath of bad investments and troubled loans, both corporate buyers and their lenders are looking to accountants to do more upfront audits as part of pre-deal due diligence.
Tax

Study Shows Women Less Likely to Cheat on Taxes

Results of a study released by several professors show women are less likely to cheat on their taxes than men and they are less tolerant of others who admit to cheating on their taxes. The study helps to answer the question seemingly on everyone's mind these days: "Are women more ethical then men?"The question was debated last week at Deutsche Bank's "Women on Wall Street" conference where panelists wondered why so many of the recent whistle-blowers have been women.

Top Selling Books On AccountingWEB

AccountingWEB has compiled a list of the top selling books over the last year on our site. Browse this selection below to see if you need to add any of the reading materials to your library? Note: The books are not listed in any particular order.
Practice Management

9/11 One Year Later: Firms Brace for Cyber Attacks

One year after the terrorist attacks on the World Trade Center and the Pentagon, most security experts polled by CSO Magazine said they consider the threat of electronic attacks a greater concern than the risk of future physical attacks. Nearly half expect a major cyber attack by a terrorist organization within the next year. Thanks to the foresight and hard work of security workers everywhere, the nation is better prepared today than it was a year ago.
Practice

Labor Day Report Exposes Excessive Executive Pay

On-going publicity of lawsuits and investigations related to accounting irregularities have brought the issue of excessive executive pay back into the limelight this Labor Day. Leading the rallying cry for reforms are two liberal policy groups, the Institute of Policy Studies and United for a Fair Economy. A report recently released by these groups shows that poor accounting pays off for some CEOs, despite the harmful consequences for workers and shareholders.
Practice

Accounting Scandals Take a Toll on Bank Lending Practices

The Federal Reserve Board recently reported that few banks have encountered significant problems with the accuracy or completeness of financial statements submitted to them, but many are tightening up lending practices after widely-publicized accounting scandals and accusations about the roles of banks in cover-ups of unexpected business failures. The Fed's report is based on a survey conducted from May through July.
Practice

Companies Report More Conservative Pro-Forma Earnings

Although the Securities and Exchange Commission (SEC) has warned investors about relying on pro-forma earnings, some well-known companies still reported earnings with these numbers during the second quarter reporting season.
Education & Careers

Forensic Accounting - A Basic Guide to The Profession

By, Alan Zysman, B.Comm, CA·IFA, CFEForensic accounting has existed for many years. With the growing complexities of the business environment and the growing number of business related investigations, forensic accounting professionals are increasingly asked to assist in the investigation of financial and business related issues.What is Forensic Accounting? The integration of accounting, auditing and investigative skills yields the specialty known as forensic accounting.

Tax Holidays Spur Shopping Sprees

Several states are gearing up for back-to-school shopping with tax holiday programs designed to help taxpayers through a time of heavy spending and to give a boost to the local economy. The idea has been around for five years, ever since New York tried a tax holiday in 1997.
A&A

Small Business Owners Still Favorable Towards The Accounting Industry

Despite the negative publicity surrounding Enron, WorldCom, Arthur Andersen, and accounting irregularities up and down Wall Street, small business owners still view the accounting profession towards the top of the list of other professions and industries, according to a new study by the NETWORK of City Business Journals.In the study, which ranked "favorable" and "unfavorable" opinions of a number of industries, 41% of small business owners had an overall positive impression of the accounting profes
Community News

Markets Did Not Reward Decision to 'Dump Andersen'

The capital markets have been punishing companies for any whiff of accounting shenanigans. They have also been rewarding companies for squeaky clean financial reporting.

Wall Street Journal Gets a New Look

On April 9, 2002, readers of the print editions of the U.S. Wall Street Journal were treated to a new look for the first time since 1942.

Forbes 500 Introduces Report on Pro Forma Earnings

Noting that aggregate corporate earnings for 2001 were "pretty awful," Forbes Magazine added a new table to its annual report on the 500 largest American companies. For the first time in 34 years of ranking companies, this year's report features companies that use "pro forma accounting."Although it admits pro forma earnings can present useful information for investors at times, (e.g.

BW Rankings Drop Companies with Accounting Issues

The crisis of confidence in accounting numbers has grown so severe, it is even affecting the annual rankings published by the business press. When Business Week published its annual ranking of the top 500 companies by earnings and revenues, it left some companies unranked because their financial statements had raised accounting questions, often accompanied by an investigation by the Securities and Exchange Commission ("After Enron, A Whole New Yardstick," Spring 2002).

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