AccountingWEB Weekly News Wrap-Up - Issue 113

AccountingWEB Weekly News Wrap-Up - Issue 113

September 21, 2001

This Newswire Sponsored by:

Intacct

THIS WEEK'S NEWS FROM ACCOUNTINGWEB

1. New Rankings: Top 100 Accounting Firms
2. Missed Deadline? IRS Issues Reprieve
3. Thoughts from Manhattan Part 2 - The Days After
4. SEC Eases Auditor Independence Rules
5. New York CPAs Offer Help to Disaster Victims
6. School Loan Payments Put on Hold
7. Department of Labor Extends Due Date for 5500s
8. AICPA Responds to National Crisis
9. IRS Announces New Quarterly Interest Rates
10.Firms Need to Get More Image Conscious, Survey Reveals

"Our greatest glory consists, not in never falling, but in rising every time we fall." - Oliver Goldsmith, English Poet and Writer

EDITORIAL

The debate continues. Next Thursday at 11:00 a.m. Eastern time AccountingWEB will host an online open forum on the controversial 'XYZ' global business credential. Concerns and issues regarding the credential itself and the AICPA's involvement in promoting the credential will be discussed by Kendall Wheeler and Susan Bradley, two members of the CPA profession who have been outspoken with their questions and concerns about this proposal.

Please be sure to join us in the AccountingWEB workshop room, voice your concerns and questions, and find out how other members of the profession regard this hot issue.

Information about the workshop

AccountingWEB Global Credential Resource Center

Editor
Managing Editor

IN THE NEWS

1. New Rankings: Top 100 Accounting Firms

PricewaterhouseCoopers handily held on to the first position in this year's ranking of the Top 100 Accounting Firms. Read the complete listing and see how your favorite firms fared.

2. Missed Deadline? IRS Issues Reprieve

Recognizing the continuing disruption to the national financial markets, transportation systems, telecommunication and computer networks, as well as continuing security concerns that face our nation in this time of tragedy, the IRS and the Treasury Department have issued an extension of time for all taxpayers with filing deadlines between September 10 and 24.

3. Thoughts from Manhattan Part 2 - The Days After

AccountingWEB member David Miller, a Marketing Director at a CPA firm in midtown Manhattan, offers this follow-up report on the events he observed in New York City in the days after the terrorist attack.

OUR SPONSOR'S SPECIAL OFFER

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4. SEC Eases Auditor Independence Rules

The Securities and Exchange Commission, in an effort to promote a calm and orderly return to stock market trading, has agreed to ease several rules. Effective immediately, accounting firms may provide bookkeeping services and aid in the recovery of records for clients with offices in and around the World Trade Center. Providing such services will not violate auditor independence rules that were issued last year.

5. New York CPAs Offer Help to Disaster Victims

In response to last week's events, the New York State Society of Certified Public Accountants is offering assistance to the public and its members who are victims of the World Trade Center disaster.

6. School Loan Payments Put on Hold

In light of last week's tragic events, the nation's banks and the Education Department have announced plans to postpone or reduce required payments on federal college loans.

ADVERTISE WITH ACCOUNTINGWEB

This week's News Wrap Up will be sent to over 36,000 members who are accounting and finance professionals. This highly targeted audience has selected this service as one of their most trusted sources of information - shouldn't your products and services be presented here as well? Contact our sales department at 317-876-7525 or by e-mail for details.

7. Department of Labor Extends Due Date for 5500s

In reaction to last week's events, the U.S. Department of Labor has announced an extension of the deadline for filing Form 5500 and Form 5500-EZ.

8. AICPA Responds to National Crisis

The American Institute of Certified Public Accountants has established a fund for victims of last week's attacks. The new fund, CPAs in Support, is designed to help CPAs, CPA firms, and others affected by the recent tragic events. Find out how you can contribute to this fund, and whom to contact if you know of people in need of help.

9. IRS Announces New Quarterly Interest Rates

The IRS has announced interest rates for the quarter beginning October 1, 2001. These rates affect overpayments and underpayments of tax for corporations and individuals.

10. Firms Need to Get More Image Conscious, Survey Reveals

Small firms realize that image is extremely important for building their business, but do little about it, a new survey reveals. Less than a quarter of smaller firms surveyed said they were working with their staff to enhance the appearance of the company.

ACCOUNTINGWEB WORKSHOP SCHEDULE

Tuesday, September 25, 4:00-5:00 EDT
Topic: Technology Trends for 2002
Presenter: Lindy Antonelli, Access Technologies International, Ltd.
Sponsored by: PricewaterhouseCoopers Comperio

Thursday, September 27, 11:00-12:00 noon EDT
Topic: XYZ Talk - Open Forum
Presenters: Kendall Wheeler, Moore Grider & Company and Susan Bradley, Tamiyasu, Smith, Horn and Braun Accountancy Corporation
Sponsored by: XYZ Talk

Check out the Workshop Schedule for the upcoming sessions in our ongoing workshop series.

ACCOUNTINGWEB Q&A FORUM

Visit our Q&A Forum to post your questions and share your ideas with the members of AccountingWEB! Simply click on the "Add Comments" option at the bottom of any question to add your response and comments.

Many new questions have been posted, check them out today and lend a hand.

MEMBER QUESTIONS

Are there any recommendations for a short video on white-collar crime and fraud in the workplace to show at a client seminar?

Does anyone have any samples of customer service evaluation forms?

How should figures be reported on a tax return for a small construction corporation switching from cash basis to percentage-of-completion?

How should audit sample sizes be determined?

Can anyone recommend a laptop/notebook computer that accommodates a 10-key add-on?

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