AccountingWEB Weekly News Wrap-up - Issue 66

The AccountingWEB Friday Wrap-Up Newswire - Issue 66

October 27, 2000

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* * This week's newswire is sponsored by Best Software * *

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

1. Kathy Eddy Takes Over AICPA Helm
2. Senate Finalizes Tax Package
3. AICPA Moves Ahead with Cognitor Designation
4. SEC Takes One Step Back
5. Grant Thornton to Sell E-Business Consulting Practice
6. Frequent-Flier Miles . . . and Taxes!
7. Congress Should "Butt Out" of FASB Issue
8. Excel Tip: Column and Row Titles on Multiple Pages
9. Marketing Your Web Site
10. Advising Your Clients on Section 529 College Savings Plans

****Spotlight on Clark Schaefer Hackett & Co.****
This week's Spotlight is on the accounting firm of Clark Schaefer Hackett & Co. - an accounting firm that puts its people first.
http://www.accountingweb.com/item/29948/101

Editorial
=============
The accounting profession continues to grind through a number of landscape-altering changes as it struggles to identify what it will be in the 21st century. This week sees Grant Thornton selling off its premier e-business consulting unit, the SEC taking a slight step back from the brink on the auditor independence issue, and the AICPA battling for approval to go forward with it's controversial global designation, tentatively referred to as "Cognitor." Where will it all end? All we can say is . . . "watch this space."

Michael Platt
President
mailto:mplatt@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 31
"XBRL: An Update on the Future of Financial Reporting"
Presenter: Mike Willis, PricewaterhouseCoopers
Sponsor: MIP http://www.mip.com

Thursday, November 2
"Powerful Accounting on the Web"
Presenter: David Thomas, Intacct Corp.
Sponsor: Arthur Andersen
http://www.arthurandersen.com

Tuesday, November 7
"Clairvoyance-How You Can Convince Your Client You Can Read Minds!"
Presenter: Eva Rosenberg, AKA TaxMama
Sponsor: Arthur Andersen
http://www.arthurandersen.com

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, meetings, and online in-house training when geographic constraints prevent a group from meeting in person? Contact Sales for more information at
mailto:sales@accountingweb.com or call 1-317-876-7525.
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1. Kathy Eddy Takes Over AICPA Helm
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Kathy G. Eddy was inaugurated this week as Chair of the AICPA's Board of Directors, replacing Robert K. Elliott. The announcement was made at the annual meeting of the 350,000 member organization.
http://www.accountingweb.com/item/29721/101

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2. Senate Finalizes Tax Package
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In the waning days of this Congressional session, the Senate has put together their long-awaited tax bill - but was it worth the wait? Rumors have it that Clinton will ax the bill.
http://www.accountingweb.com/item/29915/101

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3. AICPA Moves Ahead with Cognitor Designation
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The proposed "cognitor" designation - the global designation for professional business advisors - is back in the news this week Thanks to the Ohio Society of CPAs, plans are moving forward to attempt an AICPA membership vote this spring.
http://www.accountingweb.com/item/29908/101

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

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4. SEC Takes One Step Back
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SEC Chairman Arthur Levitt has indicated his willingness to take steps toward "mending and renewing the relationship between the SEC, the AICPA, and the profession," in his recent address before the AICPA. Is this a stump speech or is the SEC showing some wiggle room in their demands for auditor independence?
http://www.accountingweb.com/item/29835/101

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5. Grant Thornton to Sell E-Business Consulting Practice
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Yet another compliance consulting split was announced this week. Grant Thornton LLP, the leading U.S. accounting tax and management consulting firm serving middle-market, entrepreneurial companies, has agreed to sell its 450-person e-business consulting practice to Hitachi Ltd. of Japan.
http://www.accountingweb.com/item/29809/101

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6. Frequent Flier Miles . . . and Taxes!
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Frequent flier miles are so widespread today that they almost seem like another form of money. The federal government at one time considered taxing frequent flier miles. Did they finally find a way to do it?
http://www.accountingweb.com/item/29372/101

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7. Congress Should "Butt Out" of FASB Issue
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A Penn State accounting professor claims members of Congress don't understand the issues for which they are fighting in their effort to derail the Financial Accounting Standards Board's desire to disallow pooling as an accounting procedure for merging companies. What's your view?
http://www.accountingweb.com/item/29703/101

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8. Excel Tip: Column and Row Titles on Multiple Pages
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If your worksheet extends beyond one page, you can reuse the column and row headings from the first page on all the subsequent pages.
http://www.accountingweb.com/item/29947/101

Did you know that AccountingWEB has a whole section devoted to
Excel Tips and Tricks? Check it out at
http://www.accountingweb.com/expertguides/excelzoneit.html

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9. Marketing Your Web Site
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If you missed AccountingWEB's workshop with Internet consultant Glen Christopher this week, then be sure not to miss the transcript. You'll find plenty of tips for making your web site more visible on the Internet.
http://www.accountingweb.com/item/29949/101

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10. Advising Your Clients on Section 529 College Savings Plans
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Joe Hurley, the College Savings Plan guru, provides tips and insights on how to best take advantage of this relatively new savings vehicle.
http://www.accountingweb.com/item/29724/101

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

Whether you want to test your technical expertise or find an answer to a problem, AccountingWEB's Q&A Forum is the place to go. Here are some of our latest questions. Click on the link(s) below to offer your insight:

* Looking for suggestions about making cold contacts with non-profit and manufacturing businesses.
http://www.accountingweb.com/item/29444/101

* An accounting instructor needs information for research on the withdrawal rate of college accounting students.
http://www.accountingweb.com/item/28860/101

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 J. Scott Dick, Harry Kafka, Lissa Rose, and J. Berens for recent comments and answers to questions.

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Upcoming CPE Webinars

Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.
Oct 22This webinar will include discussions of important issues in AU-C 800, Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30Many Excel users have a love-hate relationship with workbook links.