AccountingWEB Weekly News Wrap-up - Issue 63

The AccountingWEB Friday Wrap-Up Newswire - Issue 63

October 6, 2000

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* * This week's newswire is sponsored by Virtual Growth * *

http://www.virtualgrowth.com

**LATEST NEWS***LATEST NEWS***LATEST NEWS***LATEST NEWS**

1. Senate Fails to Deliver on FSC Issue
2. Tips for Passing the CPA Exam
3. The IRS is Wrong 46 Percent of the Time
4. Excel Tip: Dealing With Rounding Errors
5. Participate in the Expertise Marketing Survey
6. 'Cognitor' Designation Moves Forward Despite Defections
7. Senate Asks Levitt for Smoking Gun
8. Jerry Atkinson Retires
9. Desktop Yoga? Get Ready for Tax Season!
10. Clinton Opposes Five-Year Internet Tax Moratorium

****Spotlight on Eddie Goldsberry****
This week's Spotlight is on Eddie Goldsberry, CPA and Director of International Tax Services at Pannell Kerr Forster of Texas, P.C.
http://www.accountingweb.com/item/28222/101

Editorial
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It's amazing what an election year will do to raise the ire of Congress in proclaiming a desire for massive tax reform. Support for repeal of the marriage tax and estate tax makes a great platform when election day rolls around, even when it's obvious that the President will veto the bills, as he has done this session.
http://www.accountingweb.com/item/28231/101

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 calendar for these upcoming free workshops, and encourage others in your firm to join you online!
http://www.accountingweb.com/workshop

Tuesday, October 10, 4:00-5:00 Eastern Time -
"Seven Ways to Gather Referrals for Your Business to Make it More Valuable"
Presented by Trent Kaeslin of Results Accountants' Systems

Thursday, October 12, 4:00-5:00 Eastern Time -
"New Models in Financial Operations"
Presented by Steven Siegel of FiNetrics

Tuesday, October 17, 4:00-5:00 Eastern Time -
"Becoming a Trusted Advisor"
Presented by David Maister, author of "Managing the Professional Service Firm"

Thursday, October 19, 4:00-5:00 Eastern Time -
"Better Proposals in Less Time"
Presented by Michelle Golden, Golden Marketing Resources, Inc.

Are you interested in presenting an AccountingWEB workshop? We are always looking for experts with a perspective to share with our members. Please contact me if you would like more information.
Gail A. Perry
Managing Editor
mailto:gperry@accountingweb.com

Did you know that you can utilize the AccountingWEB workshop room for live press conferences and meetings when geographic constraints prevent a group from meeting in person? Contact Ryan Carmen for more information at
mailto:rcarmen@accountingweb.com or call 1-317-876-7525.
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1. Senate Fails to Deliver on FSC Issue
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Will the World Trade Organization repeal the current Foreign Service Corporation policy that has officially expired? Effective October 1, the US is in violation of WTO rules on Foreign Service Corporations. The European Union and the United States are trying to work together to resolve the issue of how much in tax benefits for US exporters is fair.
http://www.accountingweb.com/item/28146/101

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2. Tips for Passing the CPA Exam
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This week's AccountingWEB workshop included useful tips regarding academic preparation for the CPA exam. We've sifted through the workshop transcript to present a concise listing of the tips that will be useful to those preparing for November's exam.
http://www.accountingweb.com/item/28092/101

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3. The IRS is Wrong 46 Percent of the Time
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If you were a teacher, what grade would you give a student who got only slightly over half of the answers right? A U.S. Treasury Department study reveals that the IRS answers provided through its web-based Tax Law Assistance program were right only 54 percent of the time.
http://www.accountingweb.com/item/28175/101

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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

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4. Excel Tip: Dealing With Rounding Errors
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Have you ever experienced the frustration of displaying a worksheet without full decimal places and having Excel round the numbers for presentation purposes, but if you look closely at the calculations, the displayed numbers don't quite add up? Here's a tip to help you deal with this problem.
http://www.accountingweb.com/item/28220/101

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5. Participate in the Expertise Marketing Survey
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AccountingWEB is pleased to announce a collaboration with Expertise Marketing in a landmark study “Becoming More Market-Driven: How Are Professional Service Firms Getting Closer to Their Clients?” We are encouraging all of our members to complete an on-line questionnaire and in return we'll be sure you receive a complimentary report of the findings in a couple of months!
http://www.accountingweb.com/item/28226/101

AccountingWEB's Platt Named To Top 100 List
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Congratulations to AccountingWEB President Michael Platt in being recognized this week as one of the Top 100 Most Influential People in Accounting in an annual study sponsored by Accounting Today magazine!

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6. 'Cognitor' Designation Moves Forward Despite Defections
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Bob Elliott, Chairman of the AICPA, confirmed that the international coalition of accounting institutes are pressing ahead with plans for the new global credential, currently referred to as "Cognitor," (also known as "XYZ Designation") despite last week's defections by the Scots and Irish institutes.
http://www.accountingweb.com/item/27905/101

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Virtual Growth(tm) is a leading provider of outsourced bookkeeping and accounting services for fast-growing businesses that need world-class accounting without the burden and expense of building and maintaining an in-house department. Virtual Growth can supply a cost-effective solution that combines easy-to-use accounting software delivered via the Internet with a dedicated staff of accountants and bookkeepers. Visit us at
http://www.virtualgrowth.com or call 800-425-8332.

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7. Senate Asks Levitt for Smoking Gun
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Arthur Levitt, SEC Chairman, recently presented his case for new guidelines for auditor independence to the U.S. Senate Banking Committee's securities subcommittee and was met with a request to present his "smoking gun" proof of why such guidelines are necessary.
http://www.accountingweb.com/item/27673/101

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8. Jerry Atkinson Retires
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AccountingWEB joins the rest of the accounting profession in offering its congratulations and gratitude to Jerry Atkinson on the announcement of his retirement this month. Jerry has served the profession for over 30 years on the local, state and national level, and is a model for those who strive to follow in his footsteps. We invite you to join other well-wishers by sending an electronic message to Mr. Atkinson through this link:
http://www.accountingweb.com/item/27297/101

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9. Desktop Yoga? Get Ready for Tax Season!
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Humans by nature are meant to have high and low stress periods and if you prolong those highs you can actually decrease your productivity. Get yourself ready now for those grueling winter days and nights at your desk with these exercise tips.
http://www.accountingweb.com/item/27421/101

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10. Clinton Opposes Five-Year Internet Tax Moratorium
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Earlier this year the House passed a measure to freeze any attempts at an Internet tax for five years. Now that Congress is winding down for the year and attempting to pass many last-minute measures, Clinton has announced that this is one measure that won’t make it through the pipeline.
http://www.accountingweb.com/item/27283/101

Q&A Forum
========================

Whether you want to test your technical expertise or find an answer to a problem, Q&A Forum is the place to go. There are some fascinating queries along with answers that deserve to be in textbooks. Here are some of our latest teasers:

* What is an ISO 9000 audit?
http://www.accountingweb.com/item/27646/101

* Is anyone familiar with the distribution software packages Eclipse or Prophet 21?
http://www.accountingweb.com/item/27706/101

* Are there any reports available that would provide specific rates charged for general accounting consulting services -- especially by size of accounting firm and geographic areas of the United States?
http://www.accountingweb.com/item/27954/101

Visit the Q&A Forum and share your ideas! Simply click on the Add Comments option at the bottom of any question to add your response.
http://www.accountingweb.com/help/anyanswers.html

Many thanks to Gerda Fogle, Mark Burns, John Meehan, Nick Thompson, and Scott Olinger for recent comments and answers to questions.

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