News Wrap-Up - Issue 254

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THIS WEEK'S NEWS
  1. SEC Considers Extending 60-Day Reporting Rule
  2. B's Plan Could Mean "Major Hit" to Earnings
  3. Initiative to Test Tagged Financial Data Announced by SEC
  4. IRS Appeals Decision to Raise Accounting Qualifications of New Hires
  5. PricewaterhouseCoopers Faces Discrimination Suit
  6. New Overtime Regulations Go into Effect August 2004
  7. Treasury Issues Comprehensive Health Savings Account Guidance
  8. Three Ex-Ahold Executives Charged With $700 Million Fraud
  9. IRS Addressing Foreign Tax Credit Rules
  10. Ex-Directors of Bankrupt Companies Get Invites to Join Other Boards
  11. IRS Issues Guidance on Truck and Tractor Excise Tax
  12. Whistle-Blower Leads Increase Sharply During 2004

Check out the News Page for this week's news and more.

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PLATT'S PERSPECTIVE

Watching the Democratic National Convention this week reminds me again of the constant, never-ending need to consistently communicate with everyone in your organization - from the faithful to the "barely there" - if you intend to get them engaged and rally them to peak performance inside your firm.

Even the party faithful who came to Boston to "carry the word" back home need to hear from the leaders, need to be inspired, and need to be given the tools and the vision to go out and do their jobs.

So take their cue and take this opportunity to plan your own firm convention; to provide a compelling vision, to rally your troops, to communicate your message, to inspire their best efforts, and to bring them on board to be foot soldiers in a higher purpose. And when you are done, plan to do it again next month, and every month after that to keep them energized and excited about continuing to build your organization.

Michael Platt, Founder
editor@accountingweb.com

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THIS WEEK'S NEWS
  1. SEC Considers Extending 60-Day Reporting Rule

If companies comply with a new rule on internal controls, it will make it hard for them to speed up their year-end reporting as the SEC had mandated. As a result, the SEC is considering an extension for public companies complying with the new rule that makes annual reports due 60 days after their year-end rather than 75 days as it was in the past.

  1. FASB's Plan Could Mean "Major Hit" to Earnings

Multinational Corporations may be looking at a big increase in reported liabilities and a deep cut to profits if a change in deferred-tax accounting is adopted by the Financial Accounting Standards Board.

  1. Initiative to Test Tagged Financial Data Announced by SEC

The U.S. Securities and Exchange Commission is assessing the benefits of tagged data and its potential for improving the timeliness and accuracy of financial disclosure and analysis of Commission filings.

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  1. IRS Appeals Decision to Raise Accounting Qualifications of New Hires

The Internal Revenue Service announced this week it plans to appeal a decision by a federal arbitrator that the agency cannot raise the accounting qualifications for newly hired revenue agents.

  1. PricewaterhouseCoopers Faces Discrimination Suit

Despite developing a lucrative relationship with Boeing on behalf of her employer, PricewaterhouseCoopers LLP, Melissa Page filed suit last month claiming she was denied partnership by one of the world's largest public accounting firms.

MORE HEADLINES...

  1. New Overtime Regulations Go Into Effect August 2004
  2. Treasury Issues Comprehensive Health Savings Account Guidance
  3. Three Ex-Ahold Executives Charged With $700 Million Fraud
  4. IRS Addressing Foreign Tax Credit Rules
  5. Ex-Directors of Bankrupt Companies Get Invites to Join Other Boards
  6. IRS Issues Guidance on Truck and Tractor Excise Tax
  7. Whistle-Blower Leads Increase Sharply During 2004

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  1. How Do Smaller Firms Compete?
  2. The Value of Proactive Service in Your Firm
  3. Excel Tip: Overriding and Removing Page Breaks

HOT TOPICS ON ACCOUNTINGWEB

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  1. The Six Traps of Accounting & Finance Careers
  2. Salaries Increasing for Finance and Accounting Professionals
  3. More Automated Check Payments = More Scams
  4. Congress Extends Some Popular Tax Cuts Through 2006
  5. Falwell's Support of Bush Prompts Request for IRS Probe

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