AccountingWEB Weekly News Wrap-Up - Issue 104

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AccountingWEB Weekly News Wrap-Up - Issue 104

July 20, 2001

This AccountingWEB Newswire Sponsored by:

PricewaterhouseCoopers Comperio

OutlookSoft Corporation

National Payment Corporation

Intuit's QuickBooks ProAdvisor Program


1. AICPA Announces Plans for Vote on 'XYZ' Credential
2. IRS's Tax Rebate Boondoggle
3. Consulting Firms Enter Price War
4. Independence Standards Board to Shutter its Doors
5. Microsoft's Confusing New Licensing Structure
6. KPMG Ad is Par for the Course
7. IRS Subject of Treasury Department Sting Operation
8. Accenture Launches IPO
9. Proposed Amendments to FAS 67
10. KPMG Consulting Faces Unexpected Problems


We want to take a moment to prepare you for an upcoming change at AccountingWEB that will help us better serve you, our members. Starting August 1, archived news stories will be available for viewing only to registered AccountingWEB members. What this means is that when you click on any of the news story links in the Friday News Wrap Up and in our Tuesday Resource Guide, you'll need to be logged in to the web site with a Username and Password in order to gain access to the story. Many of you are already logged in to the site when you come into AccountingWEB - you can tell because your name appears in the upper left corner of the screen on - so for you, there will be no change in accessing the stories.

If you try to read a story and you are not recognized as an AccountingWEB member, you will see a screen that shows you how to log in to AccountingWEB. Because our service uses "cookies" to remember your login information, you'll only need to do this once. And don't worry - if you can't remember your information you'll see an option where you can ask us to send your login information to you at your e-mail address.

If you have any problems or any confusion with this new process, send me an e-mail and I'll respond to you directly. Thank you for your ongoing support of AccountingWEB!

Michael T. Platt, CEO
AccountingWEB, Inc.


1. AICPA Announces Plans for Vote on 'XYZ' Credential

This September the AICPA plans to announce the official name for the controversial global credential, and, soon after the fall council meeting, a national ballot will be offered to all members of the AICPA, wherein members can cast their vote on the fate of the credential.

2. IRS's Tax Rebate Boondoggle

The IRS has dispatched over 500,000 letters containing incorrect information about the impending income tax rebate. An ill-informed computer is being blamed for the problem.


Simplify and streamline your accounting research with comprehensive, up-to-date information in one convenient web site. PricewaterhouseCoopers Comperio includes financial reporting and assurance literature from authoritative bodies around the world. Visit us for your FREE 30-day trial of Comperio.

3. Consulting Firms Enter Price War

A tight economy and corporate cutbacks on spending for IT consulting are resulting in a price war, the likes of which few have seen. The price cuts, occurring in the Chicago area, are a sign of a trend that is eroding earnings at most consulting firms, including the Big Five.

4. Independence Standards Board to Shutter its Doors

The Independence Standards Board (ISB) has served its purpose and is ready to disband. The ISB's chief responsibility was to help shape the auditor independence rules that were adopted last year.


FREE Web Seminar: Achieving Quantum Gains in Performance Management. Thursday August 9th, 1 to 2:00 pm EDT! Learn how companies like Dell, Wyndham, and First Union use portal technology to better manage their consolidation, reporting and performance management processes. Register today!

5. Microsoft's Confusing New Licensing Structure

You may have heard that Microsoft is introducing a new licensing plan and that it will affect your firm. But do you have any idea how it will affect you? Find out all the details of this new pricing and licensing scheme.

6. KPMG Ad is Par for the Course

These may look like trick shots, but the shots are real, and so is the alliance between golfing great Phil Mickelson and KPMG CEO Rand Blazer. KPMG's new advertising campaign is set to air this weekend. You can preview the ad spots here.


In a recent study, employees ranked Payroll Direct Deposit equally as important as 401K programs. Employers said it's the easiest employee benefit program to administer. Our FREE Personalized Pricing & Timing Guide details your cost per payroll and sets the timeline for implementation in your business.

7. IRS Subject of Treasury Department Sting Operation

The kinder, gentler IRS may be striving for excellence, but undercover Treasury agents have found something less than quality service at IRS walk-up centers around the nation. Find out where the problems exist and what is being done to beef up operations at the IRS.

8. Accenture Launches IPO

The much-anticipated initial public offering of the firm formerly known as Andersen Consulting went off without a hitch while the market remained in a slump.


QuickBooks users seek accountants to set up and support their growing business on QuickBooks, monitor payroll, etc. You'll get a copy of QuickBooks Pro, a listing in our online ProAdvisor Referral Database, Reference and Training Guides, tech support, and more! Visit our Web site or call 800-498-6404 today!

9. Proposed Amendments to FAS 67

The Financial Accounting Standards Board (FASB) has proposed to amend Statement No. 67, Accounting for Costs and Initial Rental Operations of Real Estate Projects, to exclude from its scope the accounting for acquisition, development, and construction costs of real estate developed and used by an entity for subsequent rental activities. Comments are being solicited.

10. KPMG Consulting Faces Unexpected Problems

When KPMG Consulting floated its initial public offering earlier this year, the next step on the firm's agenda was to consolidate its worldwide operations into one legal entity. Now it appears that the plan for consolidation is on shaky ground. Find out what happened.


Thursday, July 26, 4:00-5:00 EDT
Topic: Profiting from the Payroll Opportunity
Presenter: Don Uhl, Accountant's Advanced Marketing Network
Sponsor: Don Uhl & Associates, Inc.

Check out the Workshop Schedule for the upcoming sessions in our ongoing workshop series.


Click on the link(s) below to offer your insight and feedback or to see what others recommend:

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