AccountingWEB Weekly Resource Guide - Issue 66

AccountingWEB Weekly Resource Guide - Issue 66

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  1. IRS Announces 2003 Standard Mileage Rates
  2. Report Lists Ways to Protect U.S. From Cyberattacks
  3. IRS Vows to Catch Big Fish With New Technique
  4. American Stock Exchange Sets New Reporting Requirements
  5. "Push, Nevada" Dares to Give IRS a Good Name
  6. IRS Seeks Comment on Changes to Form 1116
  7. FASB to Consider Project on International Convergence
  8. AIMR Kicks Off Scholarships Awards to Business Students
  9. Book Recommendation: The Four Obsessions of an Extraordinary Executive

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  1. What College Recruits Want From Potential Employers - Part 3 of 3
  2. Managing Technology - 10 Cost Saving Tips
  3. How to Choose and Keep Customers
  4. Tips to Help You Become a Better Networker
  5. Opening Closed Doors - Work Your Business Relationships

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1. IRS Announces 2003 Standard Mileage Rates

Lower fuel prices have led to a decline in the standard mileage rates for the calendar year 2003, according to the just-released mileage allowance issued by the IRS.

2. Report Lists Ways to Protect U.S. From Cyberattacks

U.S. officials warned that rogue nations are preparing for attacks that could cripple America's vital computer-run infrastructure. The government's draft report lists 86 ways to protect homes and businesses from these cyberattacks.

3. IRS Vows to Catch Big Fish With New Technique

Introducing a major shift in audit strategy, the Internal Revenue Service on Thursday announced plans to implement a new statistical technique designed to identify taxpayers who fail to report their entire income.

4. American Stock Exchange Sets New Reporting Requirements

The American Stock Exchange has approved changes in reporting and governance requirements for companies listed on the Exchange, as well as other rule changes that provide greater rights for shareholders in these companies.

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Over 130 Industry Profiles - First Research, Inc.

Would you pay just $99 to save several hours of research time? AccountingWEB, in partnership with First Research, offers online Industry Profiles. Cut-and-paste industry information directly from Industry Profiles into your BV reports! Industry Profiles on over 130 highly fragmented, multi-billion dollar industries are the perfect resource for your industry research needs. Profiles are just $99.

5. "Push, Nevada" Dares to Give IRS a Good Name

The IRS has a new hero. He is Jim Prufrock, the meek IRS agent portrayed by actor Derek Cecil as a champion of the hardworking taxpayer in the new ABC/Disney series, "Push, Nevada." The show premiered Tuesday night, well in advance of other network season premieres scheduled for the weeks to come, and it caught an audience hungry for new fare.

6. IRS Seeks Comment on Changes to Form 1116

The Internal Revenue Service is asking for comments on its
revisions to the instructions for Form 1116, Foreign Tax
Credit. These changes are to be effective for tax year 2002
and beyond.

7. FASB to Consider Project on International Convergence

On September 18, 2002, the Financial Accounting Standards Board met with the International Accounting Standards Board. The two boards discussed a potential convergence project that FASB may add to its agenda.

8. AIMR Kicks Off Scholarships Awards to Business Students

Especially hard-hit by the terrorist attacks on September 11, 2001, the Association for Investment Management has set up a memorial scholarship fund for business and accounting students. The first recipients were announced last week.

9. Book Recommendation: The Four Obsessions of an
Extraordinary Executive, by Patrick M. Lencioni

Lencioni uses this hypothetical setting to show how his concepts might look and work in the real world. In this case, his "four disciplines at the heart of making any organization world class" are revealed and explained. Build and maintain a cohesive leadership team, create organizational clarity, communicate organizational clarity, and reinforce organizational clarity through human systems. Through his tale, Lencioni illustrates how these principles can be beneficially employed--and how an organization can be stymied when they're missing. The story moves quickly and is followed by a comprehensive analytical summary, which includes self-assessment tools and suggestions for putting the ideas into practice. Order Your Copy Today!

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1. What College Recruits Want From Potential Employers Part 3 of 3

We have compiled some helpful tips from one of the many questions within the survey. "What advice would you give potential employers to help the interview process be more effective for both sides?" This three part series addresses 1)Pre-Interview Tips 2)Interview Tips and 3)Post Interview Follow-up tips.

2. Managing Technology - 10 Cost Saving Tips

With uncertain economic times ahead, the first call from many partners is to look for ways to cut overhead. Ask yourself this question, "will technology play an increasing or decreasing role in our firm's future"? The majority of accountants will answer with - an increasing role!

3. How to Choose and Keep Customers

A customer database is essential. If you don't have one, create one. Start by capturing the basics: customer contact information, product preference and purchase frequency.

4. Tips to Help You Become a Better Networker

In today's competitive business world, the more contacts you have...the more people know about you, your firm and what you do, your talents and abilities...the more opportunities you will have.

5. Opening Closed Doors - Work Your Business Relationships

Before making your next contact, spend some time evaluating the history of the account. Chances are there were things you missed during your initial interaction that cost you the sale. Uncovering where you went wrong, realigning your thinking then developing a strategy to follow will enable you to generate the result you are seeking. Here are a few ideas.

COMMUNITY FEATURES

Q & A Forum

Here is a sample of the questions that have been posted over the past week. Check out the questions below and see if you can lend a hand or visit the Q&A Forum "Member Questions" Page for the most recent questions/answers posted by our subscribers.

1. Year-end Date Change For U.S. Subsidiary. I work for a UK-based organization with a US subsidiary based in Wisconsin. Historically we have had a yearend of September 30 and accounts have been filed in the UK and US based on that reference date. We wish to change the date to December 31, 2002. In the UK we have to complete a form, which notifies the authorities of this change. Is there a similar form in the US?

2. What is The Best Software Choice to Manage Small Business Accounts? I am a small business owner and operator, and as that, manage all of our accounts. My businesses have grown considerably over the last 2 years and I feel my current accounting method to be outdated. I am looking at MYOB or Quick Books and cannot choose between the 2. What is the best package?

3. Financial Analyst. I have a question that perhaps someone can guide me with. A newly acquired franchise store was purchased. In setting up the books for it. This new store was purchased via a lease company instead of a standard SBA loan. As such, the lease covers 100% financing for the store (build out, franchise fee and assets).

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