AccountingWEB Weekly News Wrap-up - Issue 5

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The AccountingWEB Newswire - Issue 5
August 19, 1999

In the headlines this week:

1. New Accounting Firm Association is Formed
2. Consolidation of Firms Is Threatened By SEC Review
3. New SSA Report Provides Consulting Opportunity
4. Growth Rate Slows For Starting Salaries
5. On Line Banking to Grow 300%
6. Technology Tip: Keyboard Shortcuts

But First, The Pleasure of Your Opinion Is Requested . . .

Join Our On Line Poll: We want to know your opinion on the future of on line banking. As reported below, a recent survey expects on line banking to grow by 300% in the next 5 years. What do you think? Do you like it? Do you hate it? Will it fly? Please join us and participate in our poll.


There is still time to sign up for the August 30 Small Business Administration's National Satellite Broadcast For Women Business Owners. Follow this link for the story.

Michael T. Platt

Around the Profession

1. New Accounting Firm Association is Formed

Nineteen of the USA's top local and regional independent CPA firms have banded together to form a new accounting firm association, called The Leading Edge Alliance, representing over $225 million in annual revenues. The Alliance is looking to provide valuable services to member firms with market dominant niche practices and nationally recognized areas of expertise. In light of all the recent news about consolidations, Founding Chairman Gary Shamis' vision is "For those of us who plan to remain independent, we need an association that allows us to work together, leverage our strengths, and exchange successful strategies that help us build better firms."

For the full story, follow this link.

2. Accounting Firm Consolidator IPO Threatened By SEC Review

The Electronic Accountant reports this week that Bob Basten's Centerprise Advisors - the consolidation of eight large local CPA firms through an initial public offering referred to in the July 29 AccountingWEB Newswire - may come unglued because of issues raised by the SEC. To limit its potential liability under the Federal Securities Act, Centerprise has agreed to allow participating firms the right to rescind their agreements with the consolidator. No comments are expected from Centerprise because of SEC restrictions on media discussions by individuals involved with stock registrations.

For the full story, follow this link.

3. Uncle Sam Provides Financial Planning Consulting Opportunity

Beginning October 1, 1999, the Social Security Administration will automatically send out annual social security statements to every worker above age 25. These redesigned statements will include all the same information as the ones you used to request from the Administration, but will be more concise and easier to read. CONSULTING OPPORTUNITY!!! Every worker over age 25 will automatically receive his or her annual statement approximately 3 months before his birthday. Why not contact your clients 2 months before their birthday with an offer to sit down and help them in their annual financial plan? And as long as you have their birthday in your database, send them a birthday card too . . .

For a full description of the new report, follow this link.

4. Starting Salaries For New Grads Up - But Not As Much

It is no surprise to learn that starting salaries are up across the board for new graduates. But according to a recent survey by the National Association for Colleges and Employers, the rate of increase is not as strong as it has been in previous years. Accounting graduates have seen a 30% increase in starting salaries throughout this decade - up to an average of $34,475.

For the full story, follow this link.

5. Online Banking To Grow By 300%

A study released this week by the GartnerGroup indicates that over 24 million households are expected to be using online banking services by the year 2004. At AccountingWEB, we believe that CPAs who wish to remain the quarterback in the team of business and financial advisors to their clients need to be up-to-speed on the capabilities of online banking services, and take the lead in helping their clients embrace this new technology.

Join our on line poll on the future of on line banking by members of the accounting profession.

For the full story, follow this link.

6. Internet Tip: Keyboard Shortcut Help

Do you ever wonder what the F4 key does on your keyboard? Or what that symbol is between the Ctrl and Alt key on your keyboard? Brought to you from none other than Microsoft itself, there is a site on the Web that provides Keyboard Shortcuts For Windows. It's a little technical, and you may not ever need to perform some of the functions, much less know the shortcut to do them, but you can impress your colleagues by knowing what happens when you hit WINDOWS +D (minimizes all open windows and returns you to the desktop.) Happy shortcutting!

To get to the site, follow this link.

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