Accounting

 
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    BigNewsNetwork: Accounting

  • FASB member pushes transparency with financial statements

    8 Feb 2010 | 7:11 pm
    Risky behavior on the part of some banks led to financial turmoil in the last couple of years. But it wasn't just the risky behavior that caused the problems. It was also due to the fact that financia...

  • Grant Thornton buys royalty-auditing firm

    8 Feb 2010 | 7:11 pm
    Grant Thornton has boosted its media sector team with the acquisition of Aulren, a specialist in the film royalty-auditing business. The firm, which has been auditing royalty and distribution agreemen...

  • Confirmation of Auditor General Stalled

    8 Feb 2010 | 7:11 pm
    The confirmation of Mr. Samuel Ukura as Auditor General of the Federation may have been put on hold in the Senate because of alleged circumvention of due process in the Presidency. The process that pr...

  • Ex-Ernst & Young Atty Gets Year For Insider Trading

    8 Feb 2010 | 7:11 pm
    A former Ernst & Young attorney convicted of insider trading was sentenced Monday to a year and a day in prison, the U.S. attorney's office said.Judge Miriam Goldman Cedarbaum of the U.S. District Cou...

  • Internal Auditors Urged to Heed New SEC Proxy Disclosure Rules

    8 Feb 2010 | 7:11 pm
    The SECâ??s recently issued proxy disclosure rules provide chief audit executives with opportunities to help companies improve their governance and risk management practices, according to the Institu...
 
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    re: The Auditors

  • Beyond the Yellow Brick Road: A College Student’s Assessment of Public Accounting Job Opportunities

    Jordan Sakowitz is a senior at Lehigh University, majoring in Accounting and Management Information Systems. He also serves as the editor of the Brand-Yourself.com Blog. While he currently resides in Bethlehem, PA, he will be moving to New York City this summer when he will begin his career ...

  • @Going Concern “At Davos, Big 4 CEOs Get Their Close-Ups”

    My new post is up @Going Concern. Davos is a big deal for the media and they’re hungry for content. Any content. The prepped and pre-scripted interviews are full of softball questions and carefully restrained probing. Whether giving air time to KPMG’s Flynn, Quigley from Deloitte, E&Y’s Turley or PwC’s Nally, everyone ...

  • The Great American Financial Sandwich: AIG, PwC, and Goldman Sachs

    It may have been the first time you had ever heard of AIG.  As big as it is, it wasn't really a household name outside of the financial services world.  And certainly, big as it is, the average businessperson probably could not describe everything they did and why. The Wall ...

  • Sarbanes-Oxley Insights: An Interview With Bob Hirth of Protiviti

    Protiviti is currently soliciting feedback for its new Sarbanes-Oxley Insight Survey. The results of this survey promise to provide valuable and important insight into the current state of Sarbanes-Oxley compliance for all types of organizations. We should also learn more about the related costs and how to achieve a desired state ...

  • Update-Bring A Man of Integrity To U.S. Senate: David Hoffman for Illinois

    Update: David Hoffman's chief opponent as the Democratic candidate for US Senate from Illinois , Alexi Giannoulias, now has some serious banking issues. From Politico: Here’s a story that Illinois Senate candidate Alexi Giannoulias (D) didn’t want coming out less than a week before next Tuesday’s primary. The Crain’s piece reports that Giannoulias’s ...
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    Deloitte LLP

  • 2010 Perspective on Health Care Reform & Growth

    3 Feb 2010 | 1:03 pm
    Economic turmoil and health care reform efforts dominated headlines in 2009. Paul H. Keckley, Ph.D, executive director, Center for Health Solutions, Deloitte LLP, discusses possible implications and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Why Western Generational Models Can’t Account for a Global Workforce

    3 Feb 2010 | 1:03 pm
    Differences between generations can affect the way organizations recruit and build teams, deal with change, motivate and manage people, and boost productivity and service effectiveness. Yet global... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Cloud Services: A Library of Resources

    3 Feb 2010 | 1:03 pm
    As with any big idea that rocks the technology world, there’s a lot of confusion about cloud services and what they mean in business. We all see the potential for cheaper and faster, but that’s just... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Driving Efficiency: Work Smarter

    3 Feb 2010 | 1:03 pm
    Even with an economic upswing on the horizon, the focus on doing more with less won’t fade away. In fact, some say the paradigm of productivity has changed. As you shift from recession to recovery... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Deloitte's Financial Services Industry @Regulatory - January 2010 Issue

    27 Jan 2010 | 1:03 pm
    The January issue of Deloitte's @Regulatory newsletter addresses topics of interest for banking and investment management professionals. Highlights include a study on improving the financial... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
 
 
 
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    Deloitte Insights Podcast

  • Cloud Computing: Impacting IT and the Bottom Line

    20 Jan 2010 | 1:03 pm
    This episode of Deloitte Insights discusses the potential disruptions and opportunities cloud computing presents. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Business in 2010 and Beyond

    12 Jan 2010 | 1:03 pm
    How should you plan for the upturn in the economy? This episode discusses the various scenarios and strategies for uncertain times. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • The Great Transformation

    15 Dec 2009 | 1:03 pm
    The recession may already be over, but the effects will be felt for a long time. Deloitte LLP Chief Economist Carl Steidtmann discusses the ramifications. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Persevering in the Continued Downturn - What Do you Do When You've Already Done It All?

    10 Dec 2009 | 1:03 pm
    States have been facing significant revenue shortfalls resulting in continued projected budget deficits. Even with the major cuts taken in 2009, more cuts in expenditures and services are... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Deloitte's 2009 Education Survey

    30 Nov 2009 | 1:03 pm
    Education is one of the top national priorities. Barry Salzberg, Chief Executive Officer, Deloitte LLP, discusses the key findings in Deloitte's 2009 Education Survey. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
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    Deloitte Technology

  • Cloud Services: A Library of Resources

    3 Feb 2010 | 1:03 pm
    As with any big idea that rocks the technology world, there’s a lot of confusion about cloud services and what they mean in business. We all see the potential for cheaper and faster, but that’s just the beginning. Cloud makes it possible to do entirely new things, too. Learn more.

  • Top 10 Security & Privacy Challenges in 2010

    27 Jan 2010 | 1:03 pm
    Deloitte's Center for Security & Privacy Solutions shares the top security and privacy challenges that companies may face this upcoming year.

  • Cyber Crime: A Clear and Present Danger

    27 Jan 2010 | 1:03 pm
    The rise of the sophisticated cyber criminal has become one of the fastest growing security threats to organizations and to citizens. View Deloitte's new Center for Security & Privacy Solutions report to gain insight into the fastest growing trends in cyber security.

  • PMO vs. RMO: Getting More Business Value From Your IT Investments

    27 Jan 2010 | 1:03 pm
    Program Management Offices (PMOs) are traditionally responsible for improvements in management of IT programs. However, as more value is needed from IT, is the PMO able to shoulder the burden of complex projects, or is something more needed?

  • Moving the Mountain: Address R&D Efficiencies

    20 Jan 2010 | 1:03 pm
    Many R&D organizations focus on administrative efficiencies rather than solving the bigger issue of engineering churn. Should manufacturers reduce the churn and seek to add value earlier in the design process or simply accept it as a necessity?
 
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    Accounting News and Notes

  • Atlanta CPA Asks Have you Been Prosecuted for Your Faith Today?…Taking Christianity Into the World

    John Dillard
    8 Feb 2010 | 12:11 pm
    Atlanta CPA Asks Have you Been Prosecuted for Your Faith Today?… Taking Christianity Into the World God is good for I know when I seek Him, live according to His precepts and live in His will for my life I find a peace about me that truly does surpass all understanding. It is often when we are doing the most good for the Kingdom of God that naysayers as well as Satan will join together in an effort to derail our Godly effort. I exhort you to do something today to further the Kingdom of God. Go Tell Others About Christ, Share your Faith, Help Out Someone in Need, Encourage Those Who Are…

  • Suwanee/Buford CPA Provides Tax and Business Directory for Atlanta Business Owners

    John Dillard
    7 Feb 2010 | 12:57 pm
    Suwanee/Buford CPA Provides Tax and Business Directory for Atlanta Business Owners When was the last time you got any good FREE Business and Tax Management Information you can use 24 Hours a day & 7 Days a week. http://www.hiscpa.com/irs-selection.html Atlanta/Marietta CPA Teaches How Audits Are Selected http://www.hiscpa.com/irs-audit.html Gwinnett/Forsyth CPA Advises on How to Handle IRS Audits http://www.hiscpa.com/working-with-the-irs.html Atlanta/Cobb Christian CPA on IRS Representation http://www.hiscpa.com/paying-taxes.html Gwinnett CPA on Paying Your Taxes and Extensions…

  • Award Winning Suwanee/Buford CPA on Checklist for Year-End Taxes

    John Dillard
    6 Feb 2010 | 1:18 pm
    Award Winning Suwanee/Buford CPA on Checklist for Year-End Taxes It is certainly that time of year again. Please be reminded that corporate returns are due March 15. If we want to file by the due date, I will need to receive your data in next few weeks so that I will have an ample amount of time to file. As always, I will file for the automatic six-month extension in the event I do not get the data in time. Please be reminded that an extension to file is not an extension to pay and that both the IRS and the state expect you to pay your taxes as you earn the monies. Please be reminded there…

  • Award Winnning CPA Serving Cumming/Buford/Hall/Flowery Branch Offers Directory for Atlanta Business Ownerrs

    John Dillard
    6 Feb 2010 | 12:29 pm
    Award Winnning CPA Serving Cumming/Buford/Hall/Flowery Branch Offers Directory for Atlanta Business Ownerrs Christian CPA: Never Underestimate the Value At His CPA PC we strive to do business the old fashioned way giving our clients much more than they thought they needed. In our ever changing economic times it is even more important to stay ahead of the power curve in addressing your business issues, trends, and tax planning. To that end we have dramatically improved our web-site.  Business Management and the whole of its many varied issues are a daunting issue for both the new and…

  • Tucker/Decatur CPA on Top 20 Things Your Accounting & Tax Software Might Not Be Able to Do

    John Dillard
    4 Feb 2010 | 4:39 pm
    Tucker/Decatur CPA on Top 20 Things Your Accounting & Tax Software Might Not Be Able to Do  20. Be a CPA for Thirty Years. 19. Be a Member of the Gwinnett Chamber Board of Directors. 18. Serve as a Chief Financial Officer/Controller/Chief Operating Officer. 17. Write and Publish Several Books. 16. Discuss Nuances of Setting up a Qualified Retirement Plan for Your Business. 15. Help Your Procure and Negotiate Financing for Your Business. 14. Assist with Taking a Court Case to the Georgia Supreme Court to Protect the Rights of Georgia Workers. 13. Discuss Business Tax Deductions Advising…
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    CPAnet Clippings

  • Posts: Teach Me Accounting Blog

    CPAnet
    7 Feb 2010 | 8:51 pm
    = Basics of Accounting= Bond Related Journal Entries= Comprehensive Income= Earnings Per Share= Effective Interest Method= Investments= Investments - Equity & Cost Methods= Pension Accounting

  • >75: What to Do Two Weeks Before Your Exam

    MizWeb Communities
    5 Feb 2010 | 9:05 am
    via goingconcern.com "At this point, you should be through lecture videos and homework at least once. Really? You have two weeks left! If you’ve been disciplined up to this point, you’re feeling comfortable with most of the MCQ. A final...

  • Being a CPA Is So Cool - Preparing the Accounting Industry For Increased Popularity

    MizWeb Communities
    2 Feb 2010 | 9:51 pm
    "Being a CPA Is So Cool... Although the Web site startheregoplaces.com was created to promote what a diverse and exciting group accountants are, the rising popularity of CPAs comes primarily from the growing financial anxiety on the minds of most...

  • Networking: Using Corporate Alumni Networks to Find a Finance Job

    MizWeb Communities
    2 Feb 2010 | 1:07 pm
    via www.fins.com "In early 2004, Joel J. Cohen and Herald L. "Hal" Ritch set out to build a new investment bank. The pair, both former top executives of Donaldson, Lufkin & Jenrette, turned to their address books. By the time...

  • Jan/Feb 2010 Window - Wave 1 & 2 Score Release Resources

    CPAnet
    1 Feb 2010 | 8:30 am
    Score Release Group at CPA Exam Club Waiting on your exam scores? Make sure you join the Score Release Group. Once you join, e-mail updates will go out to you from this group when scores release. This is a moderated group where you will have to be accepted. Best of luck to all of you...score release is almost upon us!IMPORTANT! IN ORDER TO RECEIVE ALL E-MAIL UPDATES FROM THIS GROUP, YOU NEED TO FOLLOW THE BELOW DISCUSSION MODULE, GO TO THIS PAGE http://bit.ly/81HbsB AND CLICK "FOLLOW" LINK AT BOTTOM OF THE PAGE. Additional Score Release Resources Twitter @cpaexamtweets | @NASBA Email Updates…
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    Golden Practices

  • "What's the ROI of Social Media?" Is the Wrong Question

    Michelle Golden
    7 Feb 2010 | 8:32 am
    MODIFIED 4pm:Asking "What's the ROI of social media?" is akin to asking "What's the ROI of a telephone?" or "What's the ROI of a computer?" or "What's the ROI of e-mail?" First, these are all tools. They all have the potential to be significant time-suckers. And they each can make us enormously effective. Depending on our purpose and actions with the tools. Second, to truly gauge ROI--on a broad basis--you would have to consider ALL the cost to acquire, set up and maintain each of these over time. You would also have to consider ALL the value attained through the use of the tool over…

  • Negativity and Social Media - Are You Turning People Off?

    Michelle Golden
    10 Jan 2010 | 1:46 pm
    Are you a turn-off? There's a risk of this if you hang out on Facebook, Twitter, and LinkedIn—especially if you use the "status updates" features within these tools. If you are a negatively-oriented person, it won't take long for people to see that you view the glass half empty. If you are using any of the these tools for relationship development, especially business relationships, you may be doing yourself more harm than good. While you might elicit sympathy—some will surely rally-round and empathize, thereby encouraging more of this posting behavior—humans are, overall, more attracted…

  • What if You Couldn't Have a Phone on Your Desk?

    Michelle Golden
    11 Dec 2009 | 3:08 pm
    If you entered the professional workforce more than, say, ten years ago, you probably can't imagine an environment in which computer access was disallowed. Or imagine, twenty years ago, if using the telephone in your daily tasks was not permitted.But what if you were expected by management to get your job done as efficiently and effectively as possible. Ludicrous, right?Wouldn't you be thinking management was foolish to deny you access to the tools that you'd used in your daily life...growing up and throughout your education years?You'd be thinking members of management are not very bright…

  • Today I Remember a Dear Friend

    Michelle Golden
    16 Nov 2009 | 8:38 pm
    Today, Nov 16, marks one year from when a remarkable man, Paul O'Byrne, closed his human eyes for the final time. My brilliant friend--a fellow senior fellow of VeraSage Institute--fought a noble battle against a slightly more stubborn cancer that was determined to grow. Paul changed the world. For me, anyway, and for a lot of other Chartered Accountants and CPAs. Paul O and his partner, Paul Kennedy (their firm O'Byrne & Kennedy in Goffs Oak) were among Ron Baker's earliest victims converts subscribing, quickly, to pricing in advance rather than billing after the fact. A few years later,…

  • Think Your Clients Use Your Firm's Website?

    Michelle Golden
    4 Nov 2009 | 9:20 pm
    If you think your website exists primarily for clients, think again. A lot of firms think about investing in pricey features that would be in a client-only portion of the website. Did you know that only about 1% of clients return to a firm’s site after hiring them? And when they do, it’s usually to find an address or phone number. Firms think about adding a payment feature or a document storage tool where clients can get their electronic documents without bothering the firm to send copies. Yikes, how firm-centric are these ideas?? Firms also talk about putting valuable content and tools…
 
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    Beancounter Ramblings

  • Is Small Business Relief on the Way?

    Chad Bordeaux
    2 Feb 2010 | 6:57 am
    Over the past week, starting with the State of the Union Address last Wednesday, President Obama has been speaking a lot about doing more to help the nation’s small business owners.  The question is whether or not the President is proposing real relief or more of the same lip service that small business owners have been getting over the past year. Small Business Tax Credit. One of the big highlights of the Presidents speech was where he proposed a new small business tax credit that would go to small businesses who hire new workers or raise wages.  Generally speaking, small business…

  • President Obama’s Bank Tax Proposal in the the State of the Union Address

    Chad Bordeaux
    30 Jan 2010 | 5:22 pm
    Charlotte's Bank of America repaid back its TARP loan in December. During Wednesday night’s State of the Union Address, President Obama again mentioned a proposal that would impose a tax on banks that have yet to repay their TARP funds.   I find the very idea of this proposal outrageous and feel that it is a vast abuse of government power to impose it.  Let’s see what President Obama said on Wednesday night regarding the the banks that have yet to pay back their TARP funds: I have proposed a fee on the biggest banks.  I know Wall Street isn’t keen on this idea, but if these…

  • Obama Tax Hikes – Not Just for the Rich

    Chad Bordeaux
    29 Jan 2010 | 2:01 pm
    President Obama wants YOU to pay more than your fair share! In yesterday’s post, I discussed the tax cuts that President Obama mentioned in his State of the Union Address.  As I mentioned in that post, President Obama’s statement that he hasn’t raised income taxes by a single dime on a single person is technically true, one can’t ignore the fact that his administration is working diligently to increase taxes all over the board.  We have been hearing about the massive healthcare bill for months now, and both the Senate and House versions of that bill call for income tax increases. I…

  • Did President Obama Actually Cut Taxes?

    Chad Bordeaux
    28 Jan 2010 | 10:30 am
    During last nights State of the Union Address, President Obama discussed taxes on numerous occasions.  He made several statements that I took note of that I will discuss over the next few days. Firstly, he was emphatic when he stated the following: “We cut taxes for 95% of working families.  We cut taxes for small businesses.  We cut taxes for first-time homebuyers.  We cut taxes for parents trying to care for their children. We cut taxes for 8 million Americans paying for college.  As a result millions of Americans had more to spend on gas, and food, and other necessities, all of…

  • Who Creates Jobs? Growth Companies Do!

    Chad Bordeaux
    27 Jan 2010 | 4:39 am
    In this guest post, Steve Hartkopf, shares some insights on Job Creation and Growth Companies. The respected MIT professor and lead researcher at Cognetics David Birch is a true pioneer when it comes to statistical analysis of growth firms. Birch defines growth firms as companies with $100,000 in sales that grow an average of 20 percent or more over for a four-year period, which means they basically double in size over the four years. Does that sound like a major accomplishment to you? The facts indicate it is tremendous accomplishment. By Birch’s count, only about 352,000 companies…
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    Skeptical CPA

  • Blackwater's Black Hats-2

    8 Feb 2010 | 4:53 pm
    "The scandal is that the [DOJ's] case against five former security guards for the military contractor unravelled late last week in what appears to be another instance of gross prosecutorial misconduct, as abusive Justice lawyers went after an unsympathetic political target. ... Because of prior contact with the compelled statements, the [DOJ's] entire criminal division had recused itself from the case, which was handed over to national-security prosecutors and later to Assistant US Attorney for the District of Columbia, Kenneth Kohl. ... The judge goes on to say that Justice's 'inconsistent,…

  • UBS Deal Collapses?

    8 Feb 2010 | 7:00 am
    "A Swiss court ruled Friday that Swiss authorities may not disclose the account details of a wealthy American who used UBS's private bank to evade American taxes. The ruling, by the Swiss federal administrative court, threatens to open fresh legal challenges from American prosecutors of the Swiss banking giant UBS in what has become a protracted dispute between the two countries. It threatens to topple an agreement reached last August between Switzerland and the [DOJ] that requires Swiss tax authorities to disclose to the [IRS] the names of 4,450 American clients of UBS suspected of evading…

  • Fed Rift?

    7 Feb 2010 | 4:00 pm
    "New documents submitted to Congressional investigators examining the 2008 rescue of the [AIG] show that officials at the [Fed] were deeply divided over the structure of the bailout and its long-term implications. At the same time, regulators had to contend with major banks that were AIG's trading partners and were unwilling to accept a discount from the government when closing out the contracts the banks had struck with the insurance giant. ... The Fed's decision to pay AIG's trading partners in full on tens of billions of dollars in contracts has been controversial because many analysts say…

  • Phony Crown Jewel

    7 Feb 2010 | 7:43 am
    "The attorney general, Eric. H. Holder Jr. [EH] told the commission that the FBI was investigating more than 2,800 mortgage fraud cases, almost five times as many as the 534 inquiries in 2004. Of the cases, 1,842 involved more than $1 mllion in losses. As of November, federal charges related to mortgage fraud were pending against 846 defendants. Lanny A Brown, the assistant attorney general for the Justice Department's criminal division, said prosecutors were focused not only on lenders that underwrote risky mortgages, but also on companies that packaged and sold the mortgages to investors.

  • Chanos on China

    6 Feb 2010 | 4:01 pm
    "James S. Chanos built one of the largest fortunes on Wall Street by forseeing the collapse of Enron and other highflying companies whose stories were too good to be true. Now Mr. Chanos, a wealthy hedge fund investor, is working to bust the myth of the biggest conglomerate of all: China Inc. As most of the world bets on China to helplift the global economy out of recession, Mr. Chanos is warning that China's hyperstimulated economy is headed for a crash, rather than the sustained boom that most economists predict. Its surging real estate sector, buoyed by a flood of speculative capital,…
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    Life and Times of Accounting

  • Jail Time ...

    5 Feb 2010 | 4:20 pm
    Well, I am happy to say that "across the pond" some of those MPs and Lords of Parliament who prepared bogus expense reports are now looking at possible jail time. I just love to watch BBC America nightly and get updates on the expense scandals.Supposedly: one MP turned in rental expenses for an apartment he owned, another MP turned in expenses on a mortgage that was paid off, and finally an MP turned in expenses for staying in London overnight while he was really sleeping at his home outside London. The Lord accused created phony invoices for expenses that he did not even pay.These are…

  • Fuzzy Slippers ...

    5 Feb 2010 | 12:59 pm
    Let's talk slippers ... I do tell Angela that I might be sitting at home in my fuzzy slippers, or perhaps sitting at Starbucks with my feet up and in those same fuzzy slippers. Now, if my fuzzy slippers were as Regal as those pictured here, everyone would just figure I had good taste. Then again, I might be wearing those slippers that are some one's idea of a dog, cat, or funny looking person. And then, I am bound to attract lots of attention. No worries though. I don't think I'll be wearing slippers downtown. Edmonds is cool for much of the year. Additionally, I need to walk 4 blocks to the…

  • Do You Get Dressed?

    5 Feb 2010 | 4:38 am
    Many of us now have the pleasure of working from home. Whether its because we telecommute or because our business is actually a small part of our home, I wondered how many of you actually get dressed to go to another part of your home and work?We all know that it only takes the Commander in Chief 30 whole seconds to get to his office and he is dressed. McGuire Williams' own Commander in Chief (Kathleen), has about the same distance to go to her office but does she get dressed? I honestly can't say. She is always bragging about when she moves to Edmonds, WA how she is going to be in her chair…

  • It's a Secret ...

    3 Feb 2010 | 8:12 am
    Oh my, I have been to and back from password hell.Yes, I changed a password, and when logging back in, it did not work.All it takes is the slip of a finger and you have entered password hell.And, all these online sites that now require you to keep changing passwords every so many days ... it is an accountant's nightmare.We are the keeper of these passwords ... since clients want us to do the online reporting.So, this week, one of our clients was nice enough to to the distance and contact one of those online agencies to get us a new temporary password. Our Rolodex cards are one cross out after…

  • Rubbing it In ...

    3 Feb 2010 | 7:11 am
    I have been accused of rubbing it in about the fact that I get up, go downstairs, and enjoy the view out my office window and full length door. I enjoy all this snow, since I don't have to get out in traffic and deal with all those local drivers that have never lived in the Midwest. See, if you lived in the Midwest, this weather is nothing. And then, I keep telling people about my future telecommuting from Edmonds, WA where I will be able to go to the local coffee shop and link into the office via my trusty new laptop. Of course, I will swill a little coffee while working. Oh my ... I am so…
 
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    A Counting School

  • New guide: how to successfully wait in line at a Polish deli

    Krupo
    8 Feb 2010 | 5:22 pm
    I really do wish the following tutorial was not necessary, but recent events have showed me that our education system has clearly failed us. Now that there is an influx of people with absolutely zero life skills arriving in my neighbourhood, I have, as usual, found it thrust upon my shoulders to deliver a new guide on How to Survive Life. Long-time readers will recall this site's brief master class on business travel. The only thing it lacked to be considered the peer of workplace training was an introductory "You should be able to" Goals section, and a instructions at the…

  • Is Stolen Property taxable income? It is in the US! Amazing US tax law "Fail"/"Win"

    Krupo
    7 Feb 2010 | 7:24 pm
     There's actually a rule on how to treat "stolen property" on your US tax return:"Stolen property.   If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner."  Someone reported a robbery?  As usual, I remind you that I'm not offering you any tax advice here - hire a professional if you need any of that. Of course, I don't think the target audience for this bit of tax law would even care about my disclaimer - they probably have…

  • Can you get your 51 CA credits in a year and a half?

    Krupo
    6 Feb 2010 | 10:34 pm
    If you started, say, an engineering program at one given university, could you switch partway through to a Chartered Accountant prep program instead in the same university's business school, and quickly get all the credits you need to graduate in a mere year and a half? One of the regular CA 'commentators' on the blogs and forums, sardaukar - who does an excellent public service in opening people's eyes to the "hell years" that await them as CA students, incidentally - did just that, and people wondered how this is even possible. Since I'm not really into Sudoku,…

  • How much do first year CA students make in Canada?

    Krupo
    4 Feb 2010 | 7:04 pm
    If there's one question students in university may find hard to ask - even though it echoes in their mind all the time - it's "how much am I going to earn if I get hired by a CA firm?" If you're bold and outgoing and have friends who are already employed, this can be easier to find out. Otherwise, hopefully you'll stumble across either this post or the next forum as you turn to the all-knowing internet for answers. Stefano at mycasite took it upon himself to contribute to our collective knowledge by conducting a public survey - you can see the results here and…

  • Chinese sales tactics: questionably awesome

    Krupo
    31 Jan 2010 | 4:34 pm
    One of the many fun things about travelling around the world is finding out the rather different way people do common tasks. Surprises abound, even with something as prosaic as saying "Back in 5 Minutes." At least, that's what I assume this meant in a Chinese mall.  Similarly, the sales staff embrace different sales tactics, particularly depending on where you find yourself. There were three examples which stood out. Hard ball haggling At most markets and stores were haggling can happen, it's traditional for salespeople to lower their last price if you're walking…
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    AccMan Pro

  • All change at SAP

    Over the weekend, SAP announced that Leo Apotheker, the company’s CEO has resigned with immediate effect. He is replaced by two co-CEO’s: Jim Snabe and Bill McDermott. While this may be of peripheral interest, those of us interested on understanding the SaaS service Business ByDesign will want to hear how the company plans to get [...]

  • Can we please help customers rather than confuse?

    For those interested in such things, there’s a terrific SaaS ‘food fight’ underway at AccountingWeb. After maybe 40 comments and a lot of yo-yo’ing among commenters on yet another SaaS discussion, Gary Turner calls time stating: Those who are successful are winning for the same reasons people have always won – great product, great customer empathy, [...]

  • Wiki update

    I’ve spent part of the weekend updating the SaaS Apps wiki. It’s quite bare in that I am still compiling vendor data even though it currently has 31 pages. I’m heading up vendor pages with essential ‘at a glance’ information, including links to pricing, contacts and references. (see image below as an example)More information will [...]

  • Friday rant: 6 things stoopid sales people should be considering

    I hate being sold to and hate selling. I just don’t have it in me to say: ‘gimme your loot’ without feeling somehow dirty. Conversely, I hate having sales people’s BS rammed down my throat. You’d have thought the acres of digital space devoted to social media might have solved the problem. Not a bit [...]

  • First ScotRail: 54 days and counting. Shame on you

    Regular readers will know that occasionally I talk about travel woes. International flight travel has become the equivalent of attending for an anal probe, domestic UK travel isn’t much better. But when you can’t get a refund and the scripted responses are bland and uninformative then what do you do? Why take a leaf out [...]
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    Ambitious Accountants

  • 10 key actions you need to take when starting an accountancy firm

    bookmarklee
    4 Feb 2010 | 2:17 am
    These are not the only ten things you need to do, but they may be the most productive: 1 – Draft a business plan What do you want to achieve in revenues within a year, 2 years, five years? What will you need to do to achieve those objectives and what will be the consequences and cost of doing so?  Drafting the plan and incorporating cashflow projections will force you to consider related issues and to plan what actions you will need to take to achieve your objectives. Identify and arrange all relevant business insurances as well. Will you work alone or need admin, secretarial or…

  • Social media makes it easier for clients to publicise bad service

    bookmarklee
    21 Jan 2010 | 4:27 am
    At 10.30 last night Deb Maddock from Devon posted the following message on twitter: “Yet again Stupid Accountant David Rice of Plymouth didn’t turn up to our appointment and didn’t let us know. Wasted trip! USELESS #fail” A quick online search reveals two accountants with that name in that area (or maybe it’s the same guy and he’s moved). The point though is that until recently, when a client was unhappy with their professional advisers all they had was word of mouth.  Conventional wisdom suggests that unhappy people tell ten people for every one person…

  • How uptodate are your newsletters?

    bookmarklee
    18 Jan 2010 | 1:13 am
    I was in an accountant’s office recently and was impressed by the range of promotional leaflets and booklets for all of the firm’s different service lines. The only one I picked up though was their 10 page colour ‘magazine’. It was on the table in reception and looked as if it would be more interesting than the promotional leaflets.  I appreciate that I look at such documents in a different way to the target reader (clients, prospects and referrers) so perhaps my view is not relevant. The magazine was well laid out and contained some interesting commentary and…

  • Trends that will matter in 2010 – for accountants

    bookmarklee
    15 Jan 2010 | 1:48 am
    I’m not one for making predictions generally. However, for reasons I’ll explain later I’ve set out below a few ‘new’ trends that may have an impact on accountants this year. What do you think? 1 – More clients will be texting communications to their accountants. NB: how do you print off any such instructions if you want to retain an audit trail of evidence? (instant messaging using skype will also become more prevalent but you can print these off, as you can emails; 2 – Increased use of VoIP (principally Skype) in place of telephone; 3 – As many have…

  • How different do you need to be?

    bookmarklee
    7 Jan 2010 | 5:21 am
    The Telegraph Business club has produced a very professional film about a London based firm of accountants: Lubbock Fine. As I watched this I initially felt sorry for the firm. Everyone on film was very positive but we could have changed the name of the firm to one of dozens of others and almost every single statement and sentiment being expressed would still have held true. Especially the so-called ‘ground breaking’ reorganisation  that resulted in a partner-led one to one service and joined up client services some years ago. About 3 minutes into the film we learned about some…
 
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    TickMarks

  • Tax Implications of the FY 2011 Federal Budget

    4 Feb 2010 | 12:54 pm
    Also: Congressional Testimony on BudgetPresident Obama introduced his FY 2011, with unprecedented appropriations of $3.8 trillion. The budget includes a mixture of tax cuts and tax increases. Among the cuts are an extension of the "Making Work Pay" credit, an increased child care credit, eliminating certain capital gains taxes on small businesses, continuation of Section 179 depreciation of up to $250,000 and making permanent the R & D credit. Increases include limiting deductibility of charitable contributions by high-income taxpayers and reinstituting the 35% and 38.6% tax rates that…

  • This Week's State of the Union: A Tax Perspective

    29 Jan 2010 | 5:19 pm
    A variety of tax proposals were included in President Obama's State of the Union speech. The credit for hiring workers was mentioned by both Tom Ochsenschager (hereafter TO) of the AICPA, who believed that it would allow employers to avoid the employer share of Social Security and Dean Zerbe of alliantgroup, who feared that the ending bill might create enough regulatory promises to counterbalance the tax relief. TO also mentioned the college credit (Hope? Lifetime Learning?) scheduled to end in 2010 and the changes in rate and qualifying income level for the child care credit. Zerbe also…

  • Loose Ends

    28 Jan 2010 | 11:58 am
    Apologies for the gap since last post:[1] Make sure to go to Don't Mess with Taxes next Monday for the Carnival of Taxes. Time will tell whether I will be able to submit a post.[2] The full weight of tax season probably starts to hit practitioner bloggers next week. One in particular who frequently goes on hiatus is Robert Flach, so enjoy this week's posts in The Wandering Tax Pro.[3] We are in promotion and tenure decision week at APSU. While I can understand how practitioner accountants feel that academic accountants have a "cushy" life: I would not wish P & T week on anyone, from EITHER…

  • Not So Cagey: Nicholas Cage Plans to Fork Over $14 Million to IRS

    19 Jan 2010 | 4:18 pm
    Actor Nicholas Cage announced that he soon will pay two liens totaling close to $13-14 million and has sold off mansions and other assets toward that end. The actor is suing former agent/accountant Samuel Levin for failing to assure that the actor's taxes were current.We congratulate the actor for paying off his tax liabilities. We cannot confirm, however, that the actor has been nominated as Undersecretary of the Treasury; reporting to Tim Geithner.

  • "Taxes/Math is Too Hard for Me"--This is the IRS Commish, not a Dumb Barbie/Blonde Joke

    13 Jan 2010 | 11:18 am
    IRS Commissioner Douglas Shulman acknowledged that he uses a paid tax preparer for his [family's] own taxes. When pressed as to whether this was a good reason to simplify taxes, Shulman countered that tax law was established by Congress; not the IRS.Although somewhat embarrassing, I have no problem with Commissioner Shulman using a paid preparer; it is, after all, better than making the kind of tax mistakes made by Treasury Secretary Geithner. However, his assertion that the IRS had no part in tax complexity was at best ill-informed and possibly deceptive, a major part of US tax law are the…
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    NJSCPA Exam Cram Blog

  • Almost there

    Ryan McDonough
    2 Feb 2010 | 1:28 pm
    Hi everyone, So, I have been pushing really hard this past week to get up-to-speed with BEC.  I fell behind, but picked up some of the slack.  Right now I am about halfway through the material.  My plan is to finish all of the BEC material by Sunday...that's a tall order, but my exam is next Saturday!!! I have been reading the Becker Review lectures, doing the Becker multiple choice and I just added another weapon to my study plan: I am now using the CPAexcel platform for BEC when I'm at work (i.e., early in the morning, on lunch break, or after work) and…

  • Busy Season Planning

    Kunal Mistry
    25 Jan 2010 | 7:27 am
    Hi All, Much to update you on.  First, busy season has begun, so time management has come to the forefront.  I’ve struggled to study after coming home from work, so I’ve started to wake up an hour earlier in order to get some time in.  I hope this works out. As per Reg., I took my exam yesterday.  Breaking up the chapters into smaller segments and doing multiple choice immediately afterwards, helped me learn the topics.  Unfortunately, I wasn’t able to do all the multiple choice questions for every section, but felt like the ones I did helped me understand…

  • Busy Season Heat.....

    Edward Adiele
    24 Jan 2010 | 8:41 pm
    Hello Everyone, My exams are on temporary hold for now, I am still studying, also awaiting scores for my REG next month. But just to let you all in on a few of my happy struggles with work. I have been working late, but the good thing about it is that its only for a short time, and also its a career and not a job. I was scheduled to re-take Audit today the 24th, but I changed my mind last week. I am looking at the beginning of April. I love my job, and I learn new things everyday. My son surprised me the other day he is 2+, and just started talking. He asked me "Daddy what are you…

  • 24 Jan 2010 | 6:46 pm

    Jen Maniscalco
    24 Jan 2010 | 6:46 pm
    Hi everyone!I'm very sorry I have been so quiet on here.  Let me give you a little update on what's been going on over the last few weeks.I took FAR (my first attempt) on the 9th.  Again, I left the exam with a not so confident feeling.  Oddly enough, I keep finding myself looking at the questions, knowing I have worked them before, but totally forgetting how I did it.  I guess, overall, I'm struggling with retaining all of the information from the review course.  One things is for sure, this exam is not easy!I also received my REG score - 69.

  • Falling behinddddddddddd!

    Ryan McDonough
    22 Jan 2010 | 1:45 pm
    Hi everyone, I hope all is well.  I also hope (and expect!) that you are studying hard and, for those of you taking sections of the exam, doing well on the exam. I have been falling behind with studying. I took AUD about two weeks.  I got sick right before the exam and it took about a week to get better.  I also have been really busy at work and also taking care of some other things outside of work and studying.  With that said, I hate to tell you, but I am way behind in studying for BEC. These next 22 days will be filled with some intense studying.  My…
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    AccountingCoach.com Q&A

  • What is the difference between actual overhead and applied overhead?

    ACoach
    8 Feb 2010 | 11:08 am
    In accounting, overhead usually refers to the indirect manufacturing costs. These are the manufacturing costs other than direct materials and direct labor. The actual overhead refers to the indirect manufacturing costs actually occurring and recorded. These include the manufacturing costs of electricity, gas, water, rent, property tax, production supervisors, depreciation, repairs, maintenance, and more. The applied overhead [...]

  • Is there a difference between an expense and an expenditure?

    ACoach
    4 Feb 2010 | 7:25 am
    An expense is reported on the income statement. An expense is a cost that has expired, was used up, or was necessary in order to earn the revenues during the time period indicated in the heading of the income statement. For example, the cost of the goods that were sold during the period are considered [...]

  • If we dispose of an asset, will there be a change in the owner’s equity?

    ACoach
    1 Feb 2010 | 8:34 am
    The owner’s equity of a sole proprietorship will change only if the disposal of an asset causes a gain or loss to be reported on the income statement. To illustrate this, let’s assume that a truck that was used in the business is sold for $5,000. If the truck had a cost of $40,000 and accumulated [...]

  • How do you record the interest that is unpaid on a note payable?

    ACoach
    29 Jan 2010 | 5:36 am
    Interest that has occurred, but has not been paid as of a balance sheet date, is referred to as accrued interest. Under the accrual basis of accounting, the amount that has occurred but is unpaid should be recorded with a debit to Interest Expense and a credit to the current liability Interest Payable. To illustrate, let’s [...]

  • What to do with the balance in Allowance for Doubtful Accounts?

    ACoach
    27 Jan 2010 | 7:37 am
    You need to adjust the balance in the contra asset account Allowance for Doubtful Accounts to be your best estimate of the amount in Accounts Receivable which are not collectible. In other words, adjust the credit balance in the allowance account to become the amount of the receivables that is not expected to turn to [...]
 
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    CPA Success

  • That's 'Bogeyman, CPA' to you

    Bill Sheridan
    7 Feb 2010 | 1:58 pm
    Did you happen to catch Monster.com's "Bogeyman" commercial during the Super Bowl pregame show? Seems as though everyone wants to become a CPA. We'll just have to assume that Mr. Bogeyman has fufilled his educational and experience requirements and has passed the exam. Still, kudos to him for making such a fine career move. If he thinks tax season is any easier than his previous occupation, though, he's got another thing coming.

  • If I steal it, can I deduct it?

    Bill Sheridan
    6 Feb 2010 | 6:00 am
    In case there are any questions, crime definitely doesn't pay. The IRS makes that crystal clear in Publication 17 (2009), "Your Federal Income Tax." Section 12 of the publication ("Other Income") includes the following, as featured in the brilliant FailBlog: See more Epic Fails. Possession, apparently, is nine-tenths of the tax law.

  • What's right -- and wrong -- with our economy

    Bill Sheridan
    5 Feb 2010 | 5:00 am
    It's been a while since I last spoke with Anirban Basu, and that's a shame because (a) he's one sharp economist who delivers the goods in the financial-analysis department, and (b) he's just so much darned fun to talk to. So I looked him up the other day. He didn't disappoint on either count. Some of his points weren't entirely unexpected. Yes, he said, our economy is recovering, though some troubling issues (unemployment and commercial real estate, for instance) remain. And it's a tenuous recovery at best. Need proof? Look no further than the stock market.

  • Five talent management strategies in turbulent times

    Tom Hood
    4 Feb 2010 | 3:53 am
    Are we turning the corner? We have been watching for signs of recovery and they seem to be showing up recently. The latest FEI CFO survey shows that CFOs are cautiously optimistic. Here is a recap of that report from last week: "CFOs are looking up, but remain committed to utilizing some of the important lessons learned during the downturn and keeping companies streamlined. Their views on staffing are mixed." So what does this mean? What should you be thinking about regarding staffing? I like the approach suggested by Josh Bersin of Bersin Associates in his post, Five Talent…

  • One last update before things get REALLY busy

    Bill Sheridan
    3 Feb 2010 | 5:00 am
    You're undoubtedly neck-deep in early tax season work by now, but you'll want to make some time to watch this. It's a video from the folks at ACPEN, a professional training consortium of nearly 40 state CPA societies, including the MACPA. The 17-minute video provides an overview of recent tax developments and several practice tips that CPAs might find useful. And though relatively few major changes are on the books this year and it's 2011 that looks like the real "wildcard," in the words of Roger Lusby III, there are still plenty of issues to consider. Among the…
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    TSCPA Governmental Affairs

  • IRS wants to know where the bodies are buried

    Linda Messing
    27 Jan 2010 | 7:41 am
    Claiming they spend 25% of their corporate examination time “searching for issues,”  IRS is proposing a requirement that corporate taxpayers give them a schedule of “uncertain tax positions.” According to an article in the Journal of Accountancy, “Each uncertain tax position will require a concise description with sufficient detail so that the IRS can determine the nature of the issue, including the rationale for the position and the taxpayer’s reasons for determining that it is an uncertain position.” The good news? According to IRS Commissioner Doug Shulman, taxpayers…

  • Lt. Gov. Dewhurst Issues Interim Charges to Senate Committees

    Linda Messing
    20 Jan 2010 | 12:46 pm
    Dewhurst has issued a long list of substantial interim charges to the standing Senate committees. Perhaps one of the most interesting aspects of the charges is the absence of charges related to the franchise tax. The only franchise tax charge is to study tax credits to be sure such credits are economically beneficial to the state. Despite suggestions made during the last session that the franchise tax needed study (and this excuse was repeatedly given as a reason to make minimal changes then) and that process would be done during the Interim, it looks like the Senate will pass on the issue.

  • CPA Senator Kip Averitt may win primary election despite his withdrawal

    Linda Messing
    18 Jan 2010 | 9:01 am
    The newspapers have been full of articles about the surprise withdrawal of incumbent State Senator Kip Averitt (R-Waco) from this year’s elections. Averitt surprised his staff and supporters with his announcement that he was leaving the race for health reasons. His explanation as printed in the Waco Tribune-Herald: “I have diabetes and high blood pressure, and my doctor has advised me that I am a walking heart attack,” the statement reads. “While I have tried to regulate my health with diet, exercise and medication, my doctor has unequivocally recommended that reducing stress is a key…

  • Speaker appointes CPA to lead the House Select Committee on Fiscal Stability

    Linda Messing
    13 Jan 2010 | 9:42 am
    Texas House Speaker Straus (R-San Antonio) has appointed Rep. John Otto (R-Dayton), a CPA and a TSCPA member, to chair a new House Select Committee on Fiscal Stability. The committee is specifically charged to: assess the state’s ability to meet its current and future budget obligations, and determine whether the past and anticipated budget shortfalls are due primarily to the current economic recession or a more systemic problem. "The Texas House of Representatives is taking a comprehensive approach to solving the potential budget shortfall in a time of reduced revenue,"…

  • Comptroller Makes Rules Changes Suggested by TSCPA’s State Taxation Committee

    Linda Messing
    4 Jan 2010 | 1:37 pm
    When State Comptroller Susan Combs issued new franchise tax rules in the Dec. 25 issue of the Texas Register, she modified some of the proposed rules as suggested by TSCPA’s State Taxation Committee.  The new rules as issued were modified from the proposed rules as suggested by the committee as follows: The proposed rule that would have placed restrictions on the definition of passive income was withdrawn. This rule would have prevented statutorily defined passive income from qualifying unless it was from an investment. The proposed rule that did not allow rental income that flows…
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    CPA Technology Blog

  • Intuit and Microsoft Join Forces to Deliver Web Applications to Millions of Small Businesses

    Brian Tankersley
    20 Jan 2010 | 11:59 am
    Ed. Note – This press release was issued today, and since both MS and Intuit are betting so much on hosted services, I thought it was an important release for you, the gentle reader. I have not edited or otherwise...

  • Sights from CES 2010, Part I

    Brian Tankersley
    8 Jan 2010 | 8:41 am
    I’ve been in Las Vegas for CES for the last few days, and wanted to pass along some of the sights from the trade show floor. It’s been a really good experience, and I think I’ve made some really good...

  • 7 Jan 2010 | 6:19 am

    Brian Tankersley
    7 Jan 2010 | 6:19 am
    I'm in Las Vegas with Dr. Bob Spencer and Randy Johnston this week for the 2010 Consumer Electronics Show. In the spirit of our visit to technology Nirvana, I wrote my post for yesterday using my Pulse digital pen while...

  • Tag Cloud

    Brian Tankersley
    9 Dec 2009 | 10:16 am
    This is the Tag Cloud for today's webinar, courtesy Wordle.com.

  • Webinar on Gadgets @ 2PM ET

    Brian Tankersley
    9 Dec 2009 | 6:54 am
    I’m doing a webinar on gadgets @ 2PM ET (11A PT) with Greg Lafollette, sponsored by Sage. You can register HERE. Join us for a complimentary one-hour Webinar: What I Want for Christmas – The hottest electronics for CPAs to...
 
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    CPA Trendlines

  • Five Questions to Ask Clients Today

    Rick Telberg
    8 Feb 2010 | 12:37 pm
    Make checking a client’s pulse part of your everyday habit. by Rick Telberg Busy season may be hectic and the hours may be long, but if you’re not making time to get to know your clients better, then you’re missing an opportunity that may not come again for another year. [...]

  • NY CPA Society Falls into Line on Mobility

    Rick Telberg
    8 Feb 2010 | 3:45 am
    Society Board Finally Endorses UAA Section 23 on Interstate Practice The NYSSCPA Board of Directors has voted unanimously  to support Section 23 of the Uniform Accountancy Act, which would, if made law, allow out-of-state licensed CPAs to provide attest services in New York without having to notify the state or pay a fee as long as [...]

  • Peace Treaty Signed at H&R Block’s McGladrey Units

    Rick Telberg
    7 Feb 2010 | 6:36 am
    RSM McGladrey and McGladrey & Pullen Finalize Definitive Agreements via PRNewswire RSM McGladrey, Inc., one of the nation's leading accounting, tax and business consulting firms, and McGladrey & Pullen, LLP (M&P), an independent, partner-owned public accounting firm, have signed definitive agreements to continue their decade-long business relationship. The two firms previously announced their intention to extend their [...]

  • Five Quick Tips for Surviving Change You Didn’t Ask For

    Rick Telberg
    7 Feb 2010 | 6:04 am
    Change, in business as in life, doesn’t always happen the way we want it. It’s at those times when we may need some help. Here, from “change expert” M.J. Ryan, author of “Adaptability,” are a few helpful thoughts… 1. Focus on the solution, not the problem. Because society rewards analytic thinking, we believe that identifying the cause [...]

  • Top Five Ways to Get Sued

    Rick Telberg
    6 Feb 2010 | 7:38 am
    Camico, the California-based malpractice insurer, describes five ways CPA firms can increase their exposure to lawsuits and what preventative measures to take. Highlights: 1. Accounting rules: While accounting rules don’t require certain procedures, e.g., confirmation of information in a compilation engagement, juries may not take that rule into consideration. So if something doesn’t seem right to you, [...]
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    The Big Four Blog

  • Protiviti Responds to Tough Financial Crisis, Now More Bullish

    www.Big4.com
    8 Feb 2010 | 1:40 pm
    Protiviti, as many will recall, was principally Andersen’s internal audit service line, and these professionals joined the multi-billion dollar organization Robert Half International ($RHI) in 2002 to form their own division, separate from the staffing units for which RHI is better known for – Accountemps, Office Team and Management Resources. Starting with just over 700 employees in 25 locations, Protiviti has certainly grown in size and scope, and now is a global business consulting and internal audit firm providing risk, advisory, and transaction services; with 2,500 professionals in…

  • PricewaterhouseCoopers And Satyam: Recent Twists and Turns

    www.Big4.com
    4 Feb 2010 | 1:26 pm
    We have blogged earlier about PricewaterhouseCoopers, the official auditors of Satyam, the Indian IT firm, scalded by the scam perpetrated by its Chairman Ramalinga Raju. Since then, Satyam has been bought by Tech Mahindra and Deloitte has been hired as the new statutory auditors. All this has happened in a space of one year, with Ramalinga Raju being arrested on January 9, 2009, he is reportedly in the hospital now, though his brother and the Satyam CFO and other key officials are still imprisoned.This case continues to twist and turn, and here are some very recent developments from the…

  • The Next Four: BDO, RSM, Grant Thornton and Baker Tilly. And A Surprise

    www.Big4.com
    4 Feb 2010 | 12:19 pm
    We recently published our extensive financial analysis on the Big Four Firms (read here,  download here), and with some recent revenue announcements by the next set of firms, here is a brief overview of The Next Four, the second set of international but smaller accounting firms. As you can see below, these are large complex organizations in their own right, and likely to place in the global Fortune 500 as independent entities. They are multi-billion dollar, multi-firm, transnational enterprises, with presence in 100+ countries, and providing a wide variety of accounting, tax and…

  • Ernst and Young Says Companies Tiptoeing Into 2010, Still Nervous

    www.Big4.com
    2 Feb 2010 | 1:33 pm
    Ernst and Young just came out with some survey results which suggest that the overwhelmingly positive outcomes we have seen from recent PricewaterhouseCoopers and KPMG global surveys needs to be tempered with a bit of caution.While the firm finds that the situation is drastically different in December 2009 as compared to December 2008, there is some element of hesitation on part of executives to declare that all is bright again on the horizon. Leaders still seem to be a bit nervous about the recovery and companies are tiptoeing cautiously into 2010.In January 2009, 75% of companies were…

  • Ernst And Young Finds IPOs Perking Up As Capital Markets Improve

    www.Big4.com
    1 Feb 2010 | 1:56 pm
    Coming on the heels of two executive confidence surveys by other Big Four firms, which corroborate general increase in optimism, here’s another data point, this time from the capital markets which further confirms that recovery is imminent.Ernst & Young LLP’s just released Q4-2009 quarterly US IPO Pipeline report shows that US IPO activity did increase sharply in that quarter, making it the best of the last two years and matching levels we saw before entering this slowdown. Consider that the US economy did grow by around 6%, a record in recent times in the same quarter. 53 companies…
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    Success starts here

  • Yes, We Are Hiring!

    Ben
    2 Feb 2010 | 12:10 pm
    Hiring in the Public Accounting industry is typically very cyclical in nature. For experienced-level positions, most of the hiring happens from May through December. For entry-level and intern positions, most of the hiring during the Fall semester of each school year.That said, there are still plenty of positions available and currently posted on our Career Website. At last count, we had 179 Experienced-level positions posted, including Supervisor, Manager and Director level Tax positions in New York, a Sr. Associate - Risk Management position in Vienna, VA, and an Audit Supervisor - Health…

  • McGladrey and the Haitian Relief Effort

    Ben
    26 Jan 2010 | 11:23 am
    Over the past couple of weeks, we have all been impacted and deeply touched by the vast devastation that resulted from the earthquake in Haiti. McGladrey has responded in a number of ways recently, at the national level, at the local level, and in direct support of one of the most highly visible relief charities.At the national level, McGladrey made a donation to the Clinton Bush Haiti Fund, which is focusing not only on the immediate needs of the Haitian people, but on the long-term recovery and rebuilding efforts as well.At the local level, our employees have been involved with everything…

  • My Shawshank Redemption - A Screenplay: Part 5

    Rachel
    21 Jan 2010 | 10:43 am
    Hello, it’s Rachel, former Shawshank inmate, released and free. You’ll be relieved to hear that this screenplay is coming to an end. And I’m delighted to report it’s closing with a happy ending.Stay tuned however for more posts (in a different format) about my CPA Exam preparation experience.Scene SevenSetting: CarMusic: “Get Ready” by the TemptationsOpening Scene: Rachel (singing, smiling, happy) driving back to schoolVoice over, Rachel to self: Wow, it’s hard to believe but it was only a week ago that I was in this car on this same road. It seems like a lifetime ago. So, much…

  • My Shawshank Redemption - A Screenplay: Part 4

    Rachel
    20 Jan 2010 | 7:47 am
    Hello, it’s Rachel. As you may recall from my last post, I had returned home for a family holiday celebration and hopefully, a reprieve from grad school stress. Before I continue, let me share a word of caution. Most families are ashamed of their crazy, eccentric relatives and do the sensible thing – they hide them. Not so in the South. We dress them up and proudly display them in our parlors. With that said, allow me to introduce my family:· Dad: A handsome, strong and muscular man built like a Spartan warrior. A stern and formidable soldier. A mechanical genius and a human GPS. He also…

  • My Shawshank Redemption - A Screenplay: Part 3

    Rachel
    19 Jan 2010 | 8:01 am
    Hello and Happy New Year from a brand-new Rachel. I’m happy and relieved to report that the panicked, frantic, frazzled and overwhelmed Rachel (see last blog post) has been replaced by a wiser, calmer and more serene - though still overwhelmed - Rachel. The reason for this amazing transformation – you might ask? No, I didn’t drop out of school. And no, there are no tropical islands, no alcohol, no pharmaceuticals. Rather, it seems that my instinct to return home served me well. If grad school is my prison, my Shawshank, then home is my ‘Shawshank Redemption’.My Shawshank Redemption…
 
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    The Student CPA: Empowering America's Next Generation of Accountants

  • The Best of Internet Job Searching Tools (Part 2)

    Narcisse Dansou
    30 Jan 2010 | 2:32 pm
    This week’s post is a continuation of the first of the two part series entitled “The Best of Internet Job Searching Tools”. The previous post featured two leading internet job search engines: Indeed.com and SimplyHired.com. Just as I told you last week, I reserved the best for last. Today I am going to share with you two of the best kept secrets among online job hunting utilities. TweetMyJobs.com: The folks at TweetMyJOBS claim to be the largest Twitter job board. They might as well be right since they currently offer over 7,000 Vertical Twitter Job Channels from over 7,000…

  • The Best of Internet Job Searching Tools (Part 1)

    Narcisse Dansou
    23 Jan 2010 | 1:59 pm
    The past eighteen months provided us with a horrible job market. A substantial number of people who lost their jobs at the beginning of the Great Recession are still receiving unemployment benefits because job vacancies have dried up across most industries.  There is a variety of ways to conduct a job search such as leveraging one’s personal and professional networks, attending job fairs, walking in companies’ offices, reading the classifieds, and searching the web.  Because of its pervasiveness and convenience, internet job hunting has become the most widely used avenue for…

  • Emerging Niche Practices in Public Accounting

    Narcisse Dansou
    11 Jan 2010 | 1:52 am
    The business world is constantly evolving and so is public accounting. Accounting firms are now more diversified in their service offerings. Indeed, accounting firms are no longer only focused on audit and taxation services. If you want to be successful in public accounting, it is very important that you stay up to date with the growing trends in the profession. The chief purpose of this blog is to provide relevant information to aspiring CPAs so they can better design their career path as they enter public accounting. Without further delay, let me give you a quick overview of some of the…

  • Career Options for a Certified Public Accountant (CPA)

    Narcisse Dansou
    2 Jan 2010 | 10:01 pm
    As a college student, I always associated the CPA credentials with working in public accounting. My chats with classmates about career prospects in the field of accounting always revolved around working for a CPA firm. It is rather odd but I don’t recollect any of my accounting professors ever providing an overview of the different career avenues available to a Certified Public Accountant or CPA. Although I am applying for admission to graduate school because I wish to develop expertise in assurance and business advisory services, I nevertheless did some research to find out what other…
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