AccountingWEB Weekly News Wrap-up - Issue 47

The AccountingWEB Friday Wrap-Up Newswire - Issue 47
June 16, 2000

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* * * * This week's newswire sponsored by NetLedger * * * *
http://www.netledger.com

In this week's newswire:

1. CPE Price War Erupts!
2. Increase the Speed of Your Internet Connection
3. Caliber Learning Offering Free CPE
4. Internet Businesses with European Sales Face Taxation
5. Audit Improvements Recommended
6. 38% of Job Applicants Lack Basic Skills
7. House Paves the Way for Estate Tax Repeal
8. Prospects for Accounting Interns are Sunny
9. TaxMama Visits AccountingWEB
10. Internet Tip: Match Time Zones with Area Codes

Editor's Note
=============

This week we are wrapping up our current poll about the AICPA's proposed Internet portal for the accounting profession. So far the votes indicate that a slim majority of members of the AccountingWEB community feel the AICPA has no business building a for-profit publicly held company. Take this last opportunity to make your opinion count and see what others think. VOTE IN OUR On-line POLL now!
http://www.accountingweb.com/poll

Gail A. Perry
Managing Editor
mailto:gperry@accountingweb.com

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AccountingWEB's Online Workshop Schedule
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Be sure to mark your calendars for these upcoming workshops, and tell others in your firm who would benefit from these sessions to join you online too!
http://www.accountingweb.com/workshop

June 20 4:00pm EDT - QuickBooks: Common Questions and Pitfalls
Featuring Gail Perry, CPA, QuickBooks instructor for the Indiana CPA Society

June 27 4:00pm EDT - Using The Internet for Audit & Accounting Research
Featuring Jim Kaplan, Webmaster for AuditNet

July 4, Independence Day - There will be no workshop on this day (go out and celebrate!)

1. CPE Price War Erupts!
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Check out the newest fad in CPE pricing - one price for all you can eat! Both the AICPA and Practitioner's Publishing Company are offering training following this model. The low annual fees of under $100 for all the training you can stand apply to online training courses only.
http://www.accountingweb.com/cgi-bin/item.cgi?id=19063&d=101

2. Increase the Speed of Your Internet Connection
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AccountingWEB has found a nice source of information for computer users who want to increase the speed of their Internet connections (who doesn't want more speed when surfing the Net?). Find out the actual speed of your current connection, learn about services available for enhancing your speed, and discover what types of high-speed services are available in your area. Find out more by clicking this link:
http://www.accountingweb.com/cgi-bin/item.cgi?id=18986&d=101

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This newswire will be read by thousands of accounting
professionals this week. For advertising information, contact
Ryan Carmen at mailto:rcarmen@accountingweb.com

3. Caliber Learning Offering Free CPE
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If you are interested in online or interactive training in the area of auditor independence, Caliber Learning may be just the place to go. This provider of corporate training solutions is offering its auditor independence courses at no charge for a limited time. CPE is available for course participants.
http://www.accountingweb.com/cgi-bin/item.cgi?id=19212&d=101

4. Internet Businesses with European Sales Face Taxation
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The European Union is considering extending its famous Value Added Tax (VAT) to sales made by U.S. high-tech companies to European destinations. The VAT is 15% to 25% on goods such as software and data, no small drop in the bucket for big companies like Microsoft and Dow Jones.
http://www.accountingweb.com/cgi-bin/item.cgi?id=18898&d=101

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DON'T FORGET TO UPDATE YOUR ACCOUNTINGWEB MEMBERSHIP PROFILE!!

Step 1: Login at http://www.accountingweb.com/login
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5. Audit Improvements Recommended
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Many recommendations for improvement have been offered to auditors by the Panel on Audit Effectiveness, a group appointed by the Public Oversight Board and SEC chairman Arthur Levitt. Among the recommended improvements listed are strengthening the peer review process and addressing, more vigorously, the issue of fraudulent financial reporting.
http://www.accountingweb.com/cgi-bin/item.cgi?id=18792&d=101

6. 38% of Job Applicants Lack Basic Skills
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Say what you will about the quality of our schools, the bottom line is that more than one third of new job applicants lack the ability to perform elementary tasks such as reading instructions, writing reports, and performing basic arithmetic. What's an employer to do? Some companies offer remedial education as part of their standard employee training package -- others are taking a more proactive approach by promoting literacy programs and
working more closely with schools.
http://www.accountingweb.com/cgi-bin/item.cgi?id=19139&d=101

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7. House Paves the Way for Estate Tax Repeal
----------------------------------------
We're not there yet, but giant steps are being taken to repeal the estate tax over the course of the next 10 years. The House voted for the repeal this week with enough Democrats joining the Republican proponents of the repeal to override a promised veto from President Clinton. The estate tax, which ranges from 18% to 55% on estates over $675,000, directly affects about 2% of Americans as well as those who would be beneficiaries but for the tax.
http://www.accountingweb.com/cgi-bin/item.cgi?id=18894&d=101

8. Prospects for Accounting Interns are Sunny
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Recognizing the importance of luring trained personnel to their companies, and finding themselves competing for a smaller than usual group of students, many large accounting firms are sweetening the internship pot this summer with high salaries and other perks. About 90% of interns net job offers when the internship is over so it would seem that internships are no-lose situations for ambitious students.
http://www.accountingweb.com/cgi-bin/item.cgi?id=18982&d=101

9. TaxMama Visits AccountingWEB
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Our Tuesday workshop this past week featured Eva Rosenberg, also known as The TaxMama. The TaxMama explained the requirements for pursuing the Enrolled Agent status, a certification offered to tax professionals by the U.S. Department of Treasury, and in the workshop we learned about the benefits of earning this certification. The Enrolled Agent is a career alternative often overlooked by accountants who are focused on passing the CPA exam. Read the transcript of her workshop for tips and information about this interesting career.
http://www.accountingweb.com/cgi-bin/item.cgi?id=19087&d=101

10. Internet Tip: Match Time Zones with Area Codes
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Have you ever received a phone message from someone in a different area code than your own and wondered if it's too early or too late to return the call? With area codes changing and new area codes popping up all the time, it's hard to remember what time zone you're phoning. You can use this Telephone Area Code Finder on the Internet to search numerically by Area Code and zero in on the correct time zone to go with your area code.
http://www.mmiworld.com/codelist.htm

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