Accounting

  • Most Topular Stories

  • Daylight Savings Time and Your Lost Billable Hour

    Golden Practices Blog
    Michelle Golden
    13 Mar 2012 | 7:08 pm
    A Facebook friend said today that she misses her hour. (I miss mine, too.) It got me thinking about billing by the hour and what someone actually does when he or she works into the wee hours on one of those Saturday nights when an hour is lost (or gained).  I then remembered with great fondness a terrific blog post I read years ago by The Anonymous Lawyer: Saturday, April 02, 2005 This is a terrible day. Every year it frustrates me. For no good reason, tonight at 2 A.M. we lose a billable hour. Daylight savings time is ridiculous. Individually, it's not a big deal, but think of it on a…

  • What is meant by accounts written off?

    AccountingCoach.com Q&A
    ACoach
    15 May 2012 | 5:27 pm
    Accounts written off often refers to the accounts receivable that were deemed to be uncollectible and were removed from a receivable account in the general ledger. For example, a manufacturer may have written off an accounts receivable because a customer filed for bankruptcy and has insufficient assets. In this situation the account balance is written [...]

  • Asia Pacific Economic Outlook — May 2012

    Deloitte Global headlines
    11 May 2012 | 1:43 am
    The May 2012 edition of the Asia Pacific Economic Outlook gives a near-term outlook for Australia, China, India, Malaysia and South Korea.

  • Should big data drive big decisions?

    Deloitte US
    9 May 2012 | 10:28 am
    This year, many companies are taking on big data - ramping up tools and technologies to find signals and insight in unstructured, often external, and generally messy data. Big data analytics can open a window into an intricate world of customers, employees and operations that hasn’t been easily accessible before. While leaders can gain fresh insights that are immediate and real, should they use big data to drive far-reaching business decisions? Join the debate today.

  • Ensuring Your Business Success…Hiring a CPA

    Accounting News and Notes
    John Dillard
    14 May 2012 | 3:11 pm
    Duluth/Gwinnett CPA: Ensuring Your Business Success…Hiring a CPA At His CPA PC we work hard on financial and tax issues so you don’t have to. The below is a sample letter we might receive from a new Gwinnett business looking for a good Gwinnett Business CPA: John, I’ve decided to remain independent and keep the corporation. I worked with a financial planner last week and came up with what we think is a fair and necessary salary as well as a 401K plan with company matching. My next step is to get with your payroll person and set up payroll. I can share the numbers with you if…
 
 
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    Deloitte US

  • Should big data drive big decisions?

    9 May 2012 | 10:28 am
    This year, many companies are taking on big data - ramping up tools and technologies to find signals and insight in unstructured, often external, and generally messy data. Big data analytics can open a window into an intricate world of customers, employees and operations that hasn’t been easily accessible before. While leaders can gain fresh insights that are immediate and real, should they use big data to drive far-reaching business decisions? Join the debate today.

  • Unlock the potential in your data

    9 May 2012 | 10:27 am
    Business analytics uses data to drive business strategy and performance. It includes a range of capabilities - from looking backward to evaluate what happened in the past, to forward-looking approaches like scenario planning and predictive modeling. Explore our latest resources to learn how analytics can deliver uncommon insights and breakout value.

  • Talent Edge 2020: Redrafting talent strategies for the uneven recovery - Perspectives from the Oil & Gas sector

    3 May 2012 | 11:37 am
    While other sectors are focusing more on developing leaders and succession planning, Oil and gas sector’s primary focus is recruiting hard-to-find skill sets in the face of looming talent shortage. Read this report to learn more about the key talent trends in oil and gas sector.

  • HR in the financial services industry? Most are paying too much.

    2 May 2012 | 10:57 am
    We all know the financial services industry has been under the microscope in the past few years, but a new Deloitte Consulting benchmarking study focuses the attention on a different aspect of FSI operations: HR. What’s revealed may seem like piling on to change-weary FSI organizations.

  • Turning strategic ambiguity into strategic clarity

    2 May 2012 | 10:56 am
    Explore how CFOs can leverage data and the planning and performance management cycles to address multiple aspects of strategic risk, and in the process create opportunities for themselves to serve as business strategists and catalysts.
 
 
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    Accounting News and Notes

  • Are You Doubting God Today?

    John Dillard
    16 May 2012 | 1:02 pm
    Are You Doubting God Today? Do You Feel Cheated? Do You Wonder Where God is When You Need Him Most? Are You Wondering if God Even Exists Today in a World that Is So VERY Confusing. Spend Some Time Today for Yourself…and KNOW He is REAL!!! Louie Giglio – Laminin http://www.youtube.com/watch?v=F0-NPPIeeRk Related posts: Do You Know How God Knit You Together in your Mother’s Womb? Atlanta CPA…Need a Little Redemption Today? Gwinnett CPA asks Atlanta Believers: What Are You Doing Today for the Kingdom of God?

  • Ensuring Your Business Success…Hiring a CPA

    John Dillard
    14 May 2012 | 3:11 pm
    Duluth/Gwinnett CPA: Ensuring Your Business Success…Hiring a CPA At His CPA PC we work hard on financial and tax issues so you don’t have to. The below is a sample letter we might receive from a new Gwinnett business looking for a good Gwinnett Business CPA: John, I’ve decided to remain independent and keep the corporation. I worked with a financial planner last week and came up with what we think is a fair and necessary salary as well as a 401K plan with company matching. My next step is to get with your payroll person and set up payroll. I can share the numbers with you if…

  • Duluth/Gwinnett CPA: Presents Two Nights You Will NOT Want to Miss!

    John Dillard
    14 May 2012 | 9:22 am
    Duluth/Gwinnett CPA: Presents Two Nights You Will NOT Want to Miss! Tonight…we will be meeting at our regular scheduled time at 6:30 p.m. at our address below. This Monday night we will have the Brain and Shane Sutherland as they share their story of how they loss their son Zach well before his time at the tender age of 18 and their book Dare to Live REAL exists to help people find true freedom in life through learning to get REAL with God, REAL with self, and REAL with others. Learning to accept and believe Christ allows us to truly understand and accept ourselves. When we are free to…

  • Miscellaneous Deductions on Your Personal Tax Return

    John Dillard
    14 May 2012 | 7:20 am
    Duluth/Gwinnett CPA: Miscellaneous Deductions on Your Personal Tax Return Depreciation on Home Computer If your home computer is used to produce income then you can claim and deduct depreciation on it. In most cases, you will have to use the straight line depreciation method instead of the Alternative Depreciation System. But if you work as an employee and also use the computer for your work check Publication 946. Generally this would be deducted as part of a home based business/S Corporation or would be a necessary and required expense of your employer and deducted on IRS Form 2106. Fees to…

  • What Associates of Duluth/Gwinnett Virtual CFO John Dillard CPA Have to Say…

    John Dillard
    11 May 2012 | 8:53 am
    What Associates of Duluth/Gwinnett Virtual CFO John Dillard CPA Have to Say… I really enjoyed our time together yesterday and love the opportunity to work with a fellow brother in Christ. You are very passionate and outspoken of your relationship with Christ and work to do everything for His glory. It is very apparent in our conversation and your website. I look forward to working together with you and assisting business owners together for many years to come. Take care brother and let’s get together again soon, Gwinnett Business Banker is it time to upgrade your business CPA/tax…
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    Golden Practices Blog

  • CPAs in Vegas? You Know You SO Want to Go...

    Michelle Golden
    18 Apr 2012 | 5:57 pm
    OK, tax season is over. You need to rejuvenate!  Sun, fun, and...a solid week of fabulous mind-numbing, practice growth and betterment knowledge, all in ONE PLACE. In June. In Vegas. The registration for rare, public VeraSage (VS) events—June 13-14—is now open! (Our event is immediately following AICPA's PSTECH+ and AAM conference) There's a free Meet VeraSage 2012 event on Wed, Jun 13. (Sponsored in part by Avalara!) And then, a full day of learning on Thurs, Jun 14. VeraSage Vegas is not free, but we guarantee value greater than your investment! Would VeraSage do anything less?

  • How Effective is Your Social Marketing?

    Michelle Golden
    14 Apr 2012 | 5:35 am
    Veteran CPA firm marketer Katie Tolin had posted an article on the need for a social marketing audit in a LinkedIn group I manage a while back and I just spotted it (yeah, I know, my bad). I commented there with some specific recommendations and thought I'd share them here with you, too. Here's what I wrote, slightly modified for this blog...I think it's important for the marketing departmant to have their arms around who in the organization is doing what online (only relevant to the org, of course) and to help those individuals learn the best, most effective ways to interact on the…

  • Daylight Savings Time and Your Lost Billable Hour

    Michelle Golden
    13 Mar 2012 | 7:08 pm
    A Facebook friend said today that she misses her hour. (I miss mine, too.) It got me thinking about billing by the hour and what someone actually does when he or she works into the wee hours on one of those Saturday nights when an hour is lost (or gained).  I then remembered with great fondness a terrific blog post I read years ago by The Anonymous Lawyer: Saturday, April 02, 2005 This is a terrible day. Every year it frustrates me. For no good reason, tonight at 2 A.M. we lose a billable hour. Daylight savings time is ridiculous. Individually, it's not a big deal, but think of it on a…

  • Ready to Join Firms Who Are Breaking Old Business Models?

    Michelle Golden
    23 Feb 2012 | 12:30 pm
    Changing workforce mentality, evolving customer/client needs, and transparency of service are shining big, scary spotlights on many of the flaws in the professional-firm business model of old.  Some problems inherent in the traditional business model are: Running firms as democracies instead of visionary businesses precludes innovation and differentiation because decisions result in the common-denominator option that so often comes from "concensus" Micromanagement so typical in today's firms doesn't inspire people to do their best work and perpetually decreases morale Butts-in-seats or 9-5…

  • When to Say No

    Michelle Golden
    27 Jan 2012 | 8:06 pm
    We all do it. We agree to do something that we immediately regret. Sometimes we even propose on work we know we don't want. Part of it is not knowing where our next work is coming from. Part of it is knowing we have mouths to feed or payroll to make. Part of taking on projects that we shouldn't comes from plain ol' guilt. Those of us in the USA who grew up in the 60s and before probably heard from our parents that we should clean our plates because of the starving children in [insert far off place]. Turning away paying work can feel like brazenly defying the universe. Not accepting an…
 
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    Beancounter Ramblings

  • Thou Shalt Not Sin?

    Chad Bordeaux
    15 May 2012 | 8:24 am
    It’s no secret that Washington uses the tax code to do more than just raise revenue. Lawmakers also use it to influence some of our biggest financial decisions, with tax deductions for mortgage interest to encourage home ownership, tax credits for fuel-efficient cars to encourage conservation, and “bonus depreciation” to stimulate business spending. Washington seems to believe those incentives really work. And cynics argue that the real reason we’ll never see a true flat tax is because lawmakers are loath to give up the power to regulate that comes with their power to…

  • Green Apple

    Chad Bordeaux
    8 May 2012 | 10:44 am
    For 20 years now, Apple has blazed a reputation for stylish design and innovative products, creating a near-cult following among fans. Apple’s computers appeal to the artists and designers who set so many of today’s trends. Their iPod has helped change how the world listens to music. Their iPad has made online content available nearly anywhere. And their iPhone is helping change the way we communicate with friends, family, and colleagues. (Just a few years ago, your mother-in-law didn’t have a cell phone. Now she sends text messages and “checks in” on Facebook.)…

  • Chimpanzees and Charity

    Chad Bordeaux
    1 May 2012 | 8:53 am
    Disneynature’s newest movie, Chimpanzee, is a documentary masterpiece for all ages. It’s a truly original film that stands out in a multiplex of lookalikes, copies, remakes, and sequels. And Chimpanzee’s cinematography is amazing — the simple beauty of the jungles and the animals stands in contrast to so many of today’s movies all tricked out with 3D gimmicks and computer-generated special effects. Filmmakers spent four years “embedded” in the lush rainforest of Ivory Coast’s Tai National Park to make the movie, which follows the life of…

  • Tax Tidbits

    Chad Bordeaux
    26 Apr 2012 | 12:47 pm
    From time to time issues related to taxes arise that are interesting, informative or humorous that is not directly related to the preparation of a tax return but are related issues associated with federal taxation. Passports Could Be Revoked for Delinquent Taxpayers – The U.S. Senate has unanimously approved a provision added to a highway transportation bill that would revoke the passports of people with seriously delinquent tax debts. The provision gives the State Department the right to deny, revoke, or limit a passport for individuals whom the Internal Revenue Service certifies as having…

  • Do Skinny Cows Make Lowfat Cheese?

    Chad Bordeaux
    24 Apr 2012 | 7:46 am
    The California Milk Advisory Board is an agency of the California Department of Food and Agriculture dedicated to promoting California dairy products. You’ve probably never heard of the Board. But we’ll bet you’ve seen their television spots, with their catchy slogan: “Great cheese comes from happy cows. Happy cows come from California.” Now, The Atlantic magazine reports that landowners on the other side of the country are saving millions in tax by taking advantage of “America’s Dumbest Tax Loophole: The Florida Rent-a-Cow Scam.” But are those…
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    Life and Times of Accounting

  • Tricky, Tricky ...

    15 May 2012 | 4:17 pm
    Now the scammers are trying to make users of Facebook think that you need to click on messages and update information.I am a faithful Facebook user these days.  It helps me keep in contact with all my friends where ever they are in the world.But I do know that I have not changed my password or e-mail or such in Facebook.Anytime I use Facebook, I go in directly from my computer.  I don't answer messages anymore even if it says someone has friended me or accepted my invite.Why?Cause now the scammer are using messages that look like Facebook to get you to click on the fake…

  • Enough Aready!!!!!

    14 May 2012 | 11:52 am
    I had an onslaught of spam e-mail in the past 2 months.  And I am just about ready to scream!What do these people think they will accomplish by sending you 50 similar e-mails at a time with marketing crap?  Do they really think you are going to run out and buy their products?It is just a major nuisance.The only thing I see it accomplishing is getting people to change their e-mail addresses.Yes, I am getting notes galore from people that they cannot stand all the spam coming into their current e-mail address.  So, they close it down and open a new one.Of course, that is also a…

  • What I did on my After Tax Vacation ...

    10 May 2012 | 6:35 pm
    You know how kids in school love to tell you what they did on their summer vacation?Well I am far from being a kid, but I am going to tell you what I did on my vacation (the after tax crunch one I took).I left my husband in charge of looking at cruise shore excursions.  He spent hours reading through all the options available for us.  There were lots of things we could do on our stops from Miami to Malaga, Spain.  He got an A+ for his St. Maarten excursion booking!See, we got to be part of a 12 Metre Challenge race.  We sailed in a multi-million dollar…

  • Oh Happy Days!

    5 May 2012 | 12:00 pm
    There we were relaxing on the Grandeur of the Seas ... heading for Malaga, Spain.  And who did we see lounging by the pool?  Yes, it was Santa!I was careful not to stare ... well not so he would notice.Santa was kindly waiving to passersby and smiling.  Everywhere you went you heard people on the ship asking others if they had met Santa yet.So, when the last formal night came, I could not resist.  I asked Santa if he would mind taking a picture with Roger and I.  Of course, he smiled and said "yes".  Mrs. Santa took this photo.  I did tell Santa that I was a…

  • You Are Killing Me ...

    13 Apr 2012 | 11:39 am
    Ugh ... I just sent that e-filed return last night!  Such is my response when a client who had reviewed and approved their filing sent me some expenses she "just found" for 2011.So, this morning I did another amendment for 2011.  And yes, this was not the first!Then a client sends me a note that they put parentheses around a figure on a return they have to sign and mail.  Clearly the  figure is in a column labeled LOSS...  I just wanted to cry!Is it a full moon, or I am just so tired and strung out that everything is bothering me?Author:  Kathleen
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    bookmarklee.co.uk

  • 20 tips re Linkedin for accountancy firms – vs individual accountants

    bookmarklee
    16 May 2012 | 5:21 am
    I recently wrote a Handbook on using Linkedin for a larger company that has many such handbooks recording their processes and systems. It was a fascinating experience. In researching available Linkedin advice and tips I found very little that was aimed at or relevant to business owners. The same is true for accountancy firms that need to advise and guide their staff on how to use Linkedin – from a ‘corporate’ perspective. And any such generic advice that does exist still needs to be tailored to the practice concerned. There is plenty of guidance out there for one-man bands,…

  • 8 tips if you are considering an accountancy franchise

    bookmarklee
    14 May 2012 | 3:51 am
    This isn’t intended to be complete treatise on the subject. I have simply jotted down a few thoughts in preparation for a magazine interview. If my contributions appear online I will provide a link in due course. The journalist seems to be undertaking extensive research so it should be a good piece – but probably won’t be published before the summer. By way of background: There seem to be more accountancy franchise options and opportunities around today than ever before. Some rely on online marketing of a brand name, some provide exclusive areas and some are better known…

  • Am I really 38th out of 100 top finance related tweeters?

    bookmarklee
    10 May 2012 | 6:20 am
    The ICAEW’s new membership magazine, Economia, has introduced a novel idea. They have teamed up with PeerIndex to identify and list the “The top most influential Finance accounts on Twitter“. And I’m currently ranked at number 38 which is flattering. Sadly though I doubt the veracity of the list and thus can take no real delight in being included – tempting though it is. After all, I’m ranked above the Harvard Business Review, the IFS, HMRC, all of the Big 4, the CBI and many other worthy finance/accountancy bodies and individuals. I’ve attempted to…

  • Why Cameron was right about accountants

    bookmarklee
    9 May 2012 | 3:24 am
    I returned from a few days away to see a storm brewing about something disparaging that David Cameron has said about accountants. The offending headline in the Daily Telegraph on 7 May was: “We’re not just a bunch of accountants”. This was an extract from an article attributed to David Cameron in the paper. He said much the same thing recently during an interview with the BBC’s Nick Robinson. Michael Izza, CEO of the ICAEW, writing on his blog, describes the PM’s comments as:  ”uninformed and ill judged”. On this occasion, I think Michael’s…

  • How much time does it take to be active on social media?

    bookmarklee
    27 Apr 2012 | 3:50 am
    I was asked recently how I allocate my time across all of the social media with which I am involved. I guess this might be of interest to others so thought I’d blog my response. I then found that I drafted a blog post along these lines around 18m ago. It’s interesting (to me at least) to note the differences in my replies today as distinct from back then. I should stress that I have no daily or weekly targets and the actual time spent depends on what’s happening, my work priorities and the meetings I have in my diary. Social Networks Facebook Now – rarely more than a…
 
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    Tick Marks

  • Malpractice Suits: Handling Your Worst Nightmare

    7 May 2012 | 7:56 am
    Handling Client LawsuitsRoger Russell of Accounting Today develops a game plan for the CPA firm who is sued by a client (while academic lawsuits are not unheard of, the presence of alternate venues such as grade appeals boards makes them less common) for negligence or other reasons. To minimize the likelihood of the suit coming in the first place: make sure to always use engagement letters, document any controversial position and maintain a relationship with a compentent attorney. In the first phase, the keys are objectively assessing the situation or problem at the heart of the action and…

  • 10 States Which Let You Keep More of Your Money

    7 May 2012 | 7:30 am
    Low-Tax StatesCNBC rates the states with the lowest net taxes (for example: a state with no income tax but a very high sales tax would not necessarily beat out a state with low income taxes and sales taxes). The list of ten lowest is dominated by Southern (three of top five) and Western states (includes #1 Wyoming) states with South Dakota coming the closest to being a Midwestern state and only Delaware (Delaware?--guess DuPont pays taxes for everyone else in the state) in the East. Author Daniel Butszpan cautions readers to make sure that they like the state on the overall before setting…

  • Survive and Advance (to Getting a Life Back)

    16 Apr 2012 | 10:53 pm
    Congratulations and job well done to the interpid men and women who finish another grueling tax season in less than 24 hours. Some kept blogging (like Russ Fox and Joe Kristan); others (like Robert Flach and Monica Lawver) took a hiatus--regardless, enjoy your extra time with family, at the country club, etc. in the weeks and months ahead. Also, keep posting those blog entries!

  • Tax Preparer Regulation: Will It Work? Will It Survive the Courts?

    10 Apr 2012 | 11:06 pm
    IRS Commissioner Douglas Shulman has recently cast tax preparer regulation in the role of police monitor to ferret out fraudulent tax preparer behavior. Shulman stated at the National Press Club that he believed that such fraudulent behavior was uncommon, but needed to be attacked to make sure that taxpayers get value for their money. Shulman also argued that such regulation would pass Constitutional muster in its recent challenge by the Institute for Justice. Patricia Thompson of the AICPA was generally positive on tax preparer regulation, arguing that such regulation would promote better…

  • Truth IS Stranger than Fiction

    8 Apr 2012 | 7:19 pm
    "Who has believed what we have heard, and to whom has the arm of the Lord been revealed" Isaiah 53:1As a sports fan, I have seen numerous "I won't have believed it if I hadn't seen it" moments over my life, ranging from the U.S.A. hockey "Miracle on Ice" in 1980 to the Villanova upset of Georgetown in the NCAA finals to Larry Mize's miracle chip to beat Greg Norman at the Master's to today second shot on the second playoff hole by Bubba Watson. Sometimes, such events occur outside the field of sports as well, such as the overthrow of Gaddafi in Libya last summer or the raizing of the Berlin…
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    NJSCPA Exam Cram Blog

  • Summer Time studying

    Jim Provence
    14 May 2012 | 10:39 am
    With Memorial Day Weekend, BBQ's and summer right around the corner, it will be easy to forget to pick up those books to study. So why not combine that trip to the beach and a quick study hour? Bring that...

  • LIFE

    Claudio Bonesini
    13 May 2012 | 7:22 am
    Dear Colleague Candidates: Willing to title my post: “Life’s Rants” as I was typing it, I changed my mind to a more positive connotation. Just: “LIFE!” Please, all of you, unite with me and together encourage every fellow accounting student...

  • Let the Waiting Begin

    Alyssa Shadinger
    9 May 2012 | 9:17 am
    Hello everyone and happy May! For those of you who are new to the blog, my name is Alyssa and I am an Audit Associate at WeiserMazars. I graduated from Stockton College last year and have been working toward passing...

  • Last Week..

    Edward Adiele
    7 May 2012 | 1:00 pm
    Hello Everyone, I did not make much progress last week, I had anticipated 2 chapters in the FARE book each week, as I plan to sit for the exam by the First week in July. My Regulation classes would start...

  • The CPA Exam Challenge !!

    Edward Adiele
    1 May 2012 | 7:07 am
    Good Morning Everyone, For those that are new to the blog, I welcome you all, My name is Ed, and I am an Audit Senior with Deloitte. I Have been battling the CPA exam for some time - Since 2009,...
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    AccountingCoach.com Q&A

  • What is meant by accounts written off?

    ACoach
    15 May 2012 | 5:27 pm
    Accounts written off often refers to the accounts receivable that were deemed to be uncollectible and were removed from a receivable account in the general ledger. For example, a manufacturer may have written off an accounts receivable because a customer filed for bankruptcy and has insufficient assets. In this situation the account balance is written [...]

  • What is safety stock?

    ACoach
    10 May 2012 | 9:25 am
    Safety stock is an additional quantity of an item held in inventory in order to reduce the risk that the item will be out of stock. Safety stock acts as a buffer in case the sales of an item are greater than planned and/or the supplier is unable to deliver additional units at the expected [...]

  • Is a loan payment an expense?

    ACoach
    8 May 2012 | 9:00 am
    Often a loan payment consists of both an interest payment and a payment to reduce the loan’s principal balance. The interest portion is an expense whereas the principal portion is a reduction of a liability such as Loans Payable or Notes Payable. If a company uses the accrual method of accounting, it is logical to [...]

  • What is lead time in purchasing?

    ACoach
    26 Apr 2012 | 5:00 am
    In purchasing, lead time is the estimated time between ordering goods and receiving the goods. For instance, if 100 units of Product X are ordered on April 11 and are expected to be received on April 25, the lead time is 14 days. The estimated lead time is one of the factors used in calculating [...]

  • What is capital stock?

    ACoach
    24 Apr 2012 | 5:00 am
    Capital stock is the combination of a corporation’s common stock and preferred stock (if any). Common stock is usually the first and only capital stock issued by corporations. However, some corporations will also issue preferred stock. The amount received by the corporation when it issued shares of its capital stock is reported in the stockholders’ [...]
 
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    CPA Success

  • Job No. 1: Prepare for tomorrow's changes today

    Bill Sheridan
    14 May 2012 | 11:26 am
    There's no bigger scam going than the predict-the-future racket. Given the rate of change today, tomorrow is nothing more than a crapshoot. Predict the future? I can't predict 30 minutes from now, let alone next week, next month, or next year. Still, there are glaring trends that point to logical steps we might have to take to survive. Smarter people than me are seeing clear opportunities down certain paths -- and clear roadblocks down others. A couple dozen of those people were on hand for the MACPA's 2012 Leadership Academy. Their job was to pinpoint some high-leverage opportunities on…

  • Three steps to better employee benefit plan audits

    Bill Sheridan
    10 May 2012 | 11:12 pm
    We've talked about the quality of employee benefit plan audits (or, more accurately, the lack thereof) for years now. The situation isn't good, and the powers that be are paying attention. No less an authority than Department of Labor Chief Accountant Ian Dingwall has chimed in time and again, pointing to a lack of documentation as the culprit in most deficient audits. Marcus Aron has some thoughts of his own. A senior auditor in the DOL's Office of the Chief Accountant, Aron keynoted the MACPA's 2012 Employee Benefit Plan Conference with a message: Effective audits are more than checklists.

  • Your problems are nothing but opportunities

    Bill Sheridan
    7 May 2012 | 11:29 pm
    We're back in Timonium, Md., with members of the MACPA Leadership Academy's Class of 2012. They've got some mighty big shoes to fill. Remember the Class of 2011? All they did was write a white paper that outlines their vision for the future of the CPA profession. That's what the new class has to live up to. So far, it looks like they're up to the challenge. The new group of future leaders says leadership is being changed drastically by things like technology, globalization, the generation gap, the Information Age, the rate of change, the "power of we," the idea of "work" as a verb (as opposed…

  • Curation -- not content -- is king in the information age

    Bill Sheridan
    2 May 2012 | 9:36 am
    I nuked my Outlook inbox the other day. I didn't mean to. It was 7:45 a.m. and I was barely awake. I permanently delete e-mails all the time, so I didn't think twice when the "Are you sure that you want to permanently delete the selected item(s)?" message popped up on my screen. As my right index finger clicked "Yes," I noticed that all of the items in my inbox were selected. "Oh, shoot," I said. Only I didn't say "shoot," if you know what I mean. In retrospect, it was a pretty radical way of dealing with information overload. There's too much stuff flying at us these days, isn't there?

  • Want to 'live the dream?' Here's how.

    Bill Sheridan
    1 May 2012 | 12:25 am
    Remember Curtis Zimmerman? He's the mime, juggler and deep thinker extraordinaire who gave a presentation a couple of years ago that still ranks as one of the most inspiring talks I've ever seen. I've been livin' the dream ever since. Curtis is back, this time with a new book titled "Life At Performance Level." If you're looking for a book that offers something different than his live presentation, you'll be disappointed. The book is packed with a lot of the same stories, the same metaphors, the same life lessons that Zimmerman delivers in his keynotes. And thank God for that. We can all use…
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    TSCPA Governmental Affairs

  • Reversal on oil & gas sales tax ruling

    Linda Messing
    1 May 2012 | 10:01 am
    We reported last week that Judge John Dietz was reconsidering his ruling to exempt oil and gas extraction equipment from sales tax. Sure enough, he's reversed his decision. Check out the Austin American-Statesman's coverage here.

  • $1,030,000 is the new franchise tax minimum revenue floor

    Bob Owen
    27 Apr 2012 | 3:47 pm
    The 2011 Legislature extended the $1 million minimum revenue requirement for paying franchise taxes through Dec. 31, 2013.  The amount is subject to inflation adjustments and State Comptroller Susan Combs announced that the inflation adjusted minimum revenue is now $1,030,000 for reports due in 2012.  The minimum revenue amount drops to $600,000 Jan. 1, 2014.

  • Judge Swayed by Public Outcry

    Linda Messing
    27 Apr 2012 | 12:52 pm
    Two weeks ago we reported that a coming court ruling could cost the state billions as Judge John Dietz indicated his intent to exempt oil and gas extraction equipment from the state sales tax, which by some estimates could cost the state over $2 billion. According to the Austin American-Statesman, the judge read in the Wall Street Journal that some “Texas judge had recently overturned 50 years of tax law and crippled the state budget,” and Judge Dietz was evidently shocked to find that he was that “fool” judge. Dietz has scheduled a “stinkin” rehearing on the issue and…

  • TSCPA member legislator Otto praises Amazon tax deal

    Linda Messing
    27 Apr 2012 | 11:45 am
    State Representative John Otto (R-Dayton), a TSCPA member, has been at the forefront of the sales tax nexus issue in Texas, having authored last session's HB 2403. Rep. Otto has praise for today's announced compromise between Amazon and the State Comptroller's office; click here (PDF) to read Otto's press release.

  • Amazon, State Settle Sales Tax Fight

    Linda Messing
    27 Apr 2012 | 8:43 am
    The state will cease efforts to collect back sales tax from Amazon, and in exchange the retail giant will start collecting tax in July while building several new Texas warehouses, creating some 2,500 jobs. Here's a brief summary from the Texas Tribune; no doubt more in-depth analysis will be offered throughout today's news cycle. What do you think of the Amazon deal? Fair or no?
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    CPA Technology Blog

  • Sage Business Index

    Brian Tankersley
    19 Apr 2012 | 8:06 am
    Sage periodically publishes a survey which compares how confident businesses feel about the economy by country. The March results are shown below, or on the Sage site. Pretty interesting stuff….

  • Online Editions of CPA Practice Advisor

    Brian Tankersley
    12 Mar 2012 | 10:25 am
    Many of you know that I’m also the Technical Editor at the CPA Practice Advisor magazine, and my time there (going on two years now) has decreased the quantity of posts which I end up putting over here at the...

  • More Tax Haikus

    Brian Tankersley
    24 Feb 2012 | 7:06 am
    The lovely and talented Kelly Erb (@TaxGirl) has been running a social media promotion where she asks aspiring poets to write haikus about taxes. This has served as my brain break (in an open Excel sheet) for the last couple...

  • Tax Haikus

    Brian Tankersley
    22 Feb 2012 | 12:41 pm
    Kelly Phillips Erb (aka @TaxGirl) has a blog post over on Forbes where she is challenging users to create haiku about taxes. I composed a few, and have posted them here for you, the gentle reader of this blog: The...

  • Seeking Some Recommendations…..

    Brian Tankersley
    16 Feb 2012 | 1:57 pm
    I’m working on a few stories and projects right now, and need some input from you, the gentle reader. Areas of assistance needed are as follows: 1. We need to know about your favorite tablet-based mobile PDF markup tools. We’ve...
 
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    CPA Trendlines

  • What’s Working, What’s Not in Accounting Marketing Today

    cpaadmin
    15 May 2012 | 7:38 pm
    Accountants pinpoint winning strategies and bottom-line results. Join the survey; get the topline results. by Rick Telberg New CPA Trendlines research conducted for The Seven Keys to Successful CPA Firm Management program isolates at least three defining characteristics of peak performing accounting firms. The research results, to be unveiled Thursday, May 17, in a two-hour [...]

  • The Accounting Profession Promise that Could Change Everything

    cpaadmin
    15 May 2012 | 4:09 pm
    “30 minutes or it’s free;” “Absolutely, Positively Overnight;” “No Surprise Billing. Ever!” by Edi Osborne Mentor Plus What do these three tag lines have in common? Predictability. Dominoes and Fed Ex built their entire business model on making (and keeping) an uncomplicated predictability promise to the customer.  Dominoes and Fed Ex looked at their marketplace [...]

  • How Firms Unleash the Power of Diamonds, Cash Cows and Fat Cats

    Rick Telberg
    10 May 2012 | 10:32 am
    Dozens of accounting firms are turning a business cliche into new growth. by Gale Crosley Crosley & Co. An Internet search for the term “predictable growth” yields millions of links to websites, videos, books, and consultants. There seems to be no doubt about the idea that growth can be planned and charted. But for accounting [...]
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    Big4.com

  • Featured Job: Compensation & Benefits Consulting Tax Sr. Manager, Grant Thornton

    16 May 2012 | 7:00 am
    Featured Job: Compensation & Benefits Consulting Tax Sr. Manager, Grant Thornton URL: https://gt.taleo.net/careersection/gt_careersite_external/jobdetail.ftl?job=43201 Grant Thornton is collaborative, entrepreneurial and on the move. As part of a dynamic global organization of 30,000 people serving clients in more than 100 countries, we have the agility and focus it takes to be a leader. We are committed to capitalizing on our strengths and serving dynamic organizations th...Keep on reading: Featured Job: Compensation & Benefits Consulting Tax Sr. Manager, Grant Thornton

  • Featured Job: Director, HR Client Consulting Job, Capital One

    16 May 2012 | 6:57 am
    Featured Job: Director, HR Client Consulting Job, Capital One http://www.youtube.com/watch?v=M1NKq8kZ1qM URL: http://capitalone.jobs2web.com/job/McLean-Director%2C-HR-%28USA%29-Job-VA-22101/1424414/?feedId=943&utm_source=Big4Alumni&utm_campaign=CapitalOne_Tier1 Director, HR Client Consulting-703302 Description This high profile HR position will partner with senior leadership and other HR professionals to provide organizational and job design expertise. Lead local str...Keep on reading: Featured Job: Director, HR Client Consulting Job, Capital One

  • Featured Job: Director, Asst General Counsel (USA) Job, Capital One

    16 May 2012 | 6:55 am
    Featured Job: Director, Asst General Counsel (USA) Job, Capital One  http://www.youtube.com/watch?v=M1NKq8kZ1qM URL: http://capitalone.jobs2web.com/job/Plano-Director%2C-Asst-General-Counsel-%28USA%29-Job-TX-75023/1776884/?feedId=943&utm_source=Big4Alumni&utm_campaign=CapitalOne_Tier1 Director, Asst General Counsel (USA)-714098 Description This Director will be responsible for assisting on a broad range of consumer lending regulatory matters as a member of the Finan...Keep on reading: Featured Job: Director, Asst General Counsel (USA) Job, Capital One

  • PwC: Venture capital funding for technology and digital media suffering

    16 May 2012 | 6:47 am
    By Rob Starr, Content Manager, Big4.com Research by PwC into the Venture Capitalist (VC) funding environment for the UK technology industry has found, among other things, three out five respondents agreed that negative attitudes to failure discourage entrepreneurship in the UK. In contrast, readiness to embrace failure was regarded as being especially strong in Silicon Valley. As well, 60% of entrepreneurs believed that US investors are more ready and willing to embrace risk than their UK cou...Keep on reading: PwC: Venture capital funding for technology and digital media suffering

  • Deloitte: Amercians warming to summer travel

    16 May 2012 | 6:34 am
    By Rob Starr, Content Manager, Big4.com A Memorial Day weekend excursion this year is on more Americans plans; however, they are conscientious about travel expenses, according to a new Deloitte survey. There are some grievances and these include survey respondents citing crowded/cramped conditions in economy class and increases in airline fees among their top leisure travel grievances. To circumvent the latter, almost half (43 percent) use carry-on luggage more often and 40 percent make more ...Keep on reading: Deloitte: Amercians warming to summer travel
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    Success Starts Here

  • Four Tips for your Interview on Campus

    Courtney
    15 May 2012 | 3:26 pm
    Written by Gabrielle Nader Talent Acquisition Specialist Blue Bell, PA I suppose I look somewhat young, especially to college students. I often use that as the excuse as to why candidates continually mess up a perfectly good interview by saying something completely inappropriate. Year after year I find myself wondering, “What were they thinking?” Coming from someone who conducts a significant number of interviews each year, I wanted to share some important interview reminders with you. These may seem like common sense, but you would be amazed how often candidates forget these important…

  • Post Busy Season Celebrations

    Courtney
    11 May 2012 | 8:52 am
    Written by Heather FrenchTalent Acquistion Specialist Atlanta, GA Around these parts, there is nothing quite as special as getting to May 1st. It marks the end of busy season and our fiscal year end as well. It’s like getting through final exams and passing with flying colors! Many of our offices celebrated the end of busy season in their own unique way. Here is just a glimpse at Life at McGladrey… Atlanta Atlanta Everyone from the Atlanta office and their families got together at Turner Field to watch the Braves take on the Phillies. Unfortunately, the home team lost, but that did not…

  • A Few Tips from McGladrey Interns

    Courtney
    30 Apr 2012 | 9:15 am
    Written by Jen Poklemba Sr. Campus Recruiter Baltimore, MD Busy season internships are wrapping up, and summer internships will be here before we know it! Being an intern can be tough work… especially when you have NO idea what to expect! So take a few tips from some of our current interns on what you can do to help ensure you have a successful internship.Happy reading.  Take Notes! Be sure to bring paper and pen and take down as many notes when going over a new engagement with whoever is explaining the work you will be doing. Sometimes there are a ton of little details to…

  • Team McGladrey Hits the Race Track Supporting AbilityFirst

    Courtney
    20 Apr 2012 | 4:20 pm
    Written by LoriAnn Boyer Senior Talent Acquisition Specialist Los Angeles, CA Team McGladrey This past April 7th, team McGladrey, gathered at the Santa Anita Race Track in Santa Anita, CA to join over 1,500 supporters participating in theAbilityFirst 5K Run/Walk. Collectively everyone raised $350,000 to support Ability First’s causes. As a proud sponsor of this event, McGladrey’s brand was highly visible with our walkers, tee shirts, hats and signage. Additionally, McGladrey professionals went the distance by walking with other sponsors and those with disabilities. Participants from…

  • What Path Will You Choose?

    Courtney
    17 Apr 2012 | 4:43 pm
    Written by Daniel Schmidt Audit Intern Cedar Rapids, IA Realistically there is no “one size fits all plan” that will guide a person from their dorm room freshman year to their office after the glory days of college. Every person must make decisions. Some of them are harder than others and some are more beneficial than others. But there are certain check points that a person can follow to set them up for success. If I had to give advice on making career decisions I would offer these three points. The first is to follow the path in which you have a passion for and strive to be the best at…
 
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    Jr Deputy Accountant

  • For the Moms

    Jr Deputy Accountant
    13 May 2012 | 10:04 am
    When I was 6, the neighborhood boys were teasing me for having new glasses. You see, I was born with a bad eye. A really bad eye. I can't do those 3D pictures you look at long enough until they turn into something else and when I use FaceTime, I can't help but look completely cross-eyed in the little window if I try to focus. It's cool, some people think glasses are hot and personally I think they make me look better, hot or not. Anyway, it was the 80s so of course my glasses were large and ugly just like my mom's. And of course the neighborhood boys I thought were my friends launched on me…

  • TLP: When You Have a Billion Dollars, You Can Find All Kinds of Things

    The Lazy Paperboy
    11 May 2012 | 8:00 am
    In addition to putting the term "deep throat" into mainstream conversation, not to mention the front pages of newspapers, "All the President's Men" also gave us the awesomeness that is the word "ratfucking." The dirty tricks of Watergate are legendary. But what's 40 years? NYT: The day after President Obama endorsed gay marriage, Mitt Romney found himself responding to allegations that as a teenager he harassed a prep school classmate who later came out as gay. The account put Mr. Romney, who has struggled on the campaign trail to cast off his rivals’ image of him as privileged and…

  • Where's Osama bin Laden's National Enquirer Cover?

    Jr Deputy Accountant
    9 May 2012 | 7:40 am
    Well, looks like they screwed that one up, didn't they? Pentagon officials recently disclosed to the Associated Press (AP) that they could not find any photo or video evidence to confirm that Al Qaeda leader Osama Bin Laden was killed in the Navy Seal raid in Pakistan a year ago. AP has submitted more than 20 requests for information surrounding the raid on Bin Laden’s Abbottabad compound to the U.S. Government under the Freedom of Information Act (FOIA). In response to the request for visual evidence of Bin Laden’s death, the Pentagon stated that it could not find any pictures or video…

  • Today's Darwin News: Two Teens Hit By Car While Sunbathing ON the Road

    Jr Deputy Accountant
    1 May 2012 | 10:35 am
    Yes, you read that headline correctly. Two teenage girls were struck by a car while sunbathing along Donald Avenue on Saturday afternoon in Beaver County. "I'm very upset. It's the worst thing I've ever seen," witness Nicole Beck said. Authorities said Samantha Schermanhorn and Kaylie George, both 13, had to be flown by helicopter to a hospital after they fell asleep while tanning in the road and were hit by the vehicle. "I jumped off the tractor, ran across the road, ran to the road," neighbor Keith Gilbert said. "I didn't get his attention in time, and he hit both girls." Nicole and…

  • Looking Back on Osama bin Laden's Alleged Death One Year Later

    Jr Deputy Accountant
    1 May 2012 | 9:46 am
    I remember it like it was yesterday. First the email alerts started coming in that Obama would be making a very important announcement at 10 pm on a Sunday which was weird in and of itself. The economy was still sputtering on and a new election year was fast approaching. What on Earth could it be? Unfortunately, I found myself splayed out on the couch with a major back injury (I inherited a series of crappy discs from my mom's side and it just happened to go out on me that weekend, leaving me hunched over and skulking through life) the night the news came in that they killed Osama bin Laden.
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    One Accounting

  • May 2012 Tax Tips Newsletter

    oneaccounting
    1 May 2012 | 6:45 am
    Here is a breakdown of our May 2012 Tax Tips Newsletter: New HMRC Tax Dashboard If you have recently logged-on to the HMRC online service for PAYE for employers, or corporation tax you will have seen a request to sign-up for the tax dashboard…read more. How Gift Aid Works? There has been a lot of coverage in the press recently about tax relief for charitable donations. When you make a donation to a charity or to a community amateur sports club you can make a declaration that your donation is made under Gift Aid…read more. Employer or Personal Pension Funding? Who should pay…

  • The Good, the Bad and the Ugly: Welcome to the New Tax Year

    oneaccounting
    6 Apr 2012 | 5:13 am
    Today marks the start of the new 2012/13 tax year. For us accountants, this means we have exactly 300 days until the 31 January 2013 filing deadline for our clients 2011/12 tax returns. The team are chomping at the bit and we have our first tax return ready to be filed already!      (Way to go Gemma!) For the taxpaying British public the new tax year brings a mix of the good, the bad and the ugly. The Good The personal tax free allowances increases from £7,475 a year up to £8,105. This will mean an additional £126 a year in your pay packet, or enough to buy one extra Starbucks a week.

  • FreeAgent Takeover

    oneaccounting
    3 Apr 2012 | 7:20 am
    We have been using FreeAgent with a number of our clients for the last few years and have many great things to say about the intuitive (and award-winning) accountancy system. So we were really excited when FreeAgent offered us use of their beautiful new office to host our own client event. We had just under 20 clients, associates and friends out last week to talk about some the basics of FreeAgent as well as some of the great new features that are on the horizon. Then Colin Hewitt and Phil Roberts from Float gave a presentation on their cashflow forecasting application that integrates with…

  • Chris’ Highlights from Today’s Budget

    oneaccounting
    21 Mar 2012 | 12:16 pm
    The headlines from today’s budget will focus on four main areas -Increase in the tax free allowance to £8,105 from April 2012 and £9,205 from April 2013 -Loss of child benefit will now affect individuals earnings more than £50,000 per year and not £42,500 as previously announced. -50p income tax rate for earnings > £150,000 to be cut to 45p from April 2013 -Age related tax allowances to be frozen, effectively increasing taxes for those over 65 Here are three announcements that impact on small businesses directly. (1)No corporation tax cheer for small businesses The main rate of…

  • What Can FreeAgent do for Your Business?

    oneaccounting
    19 Mar 2012 | 7:52 am
    We’re holding another event this month aimed at helping our clients and friends learn more about different tools that can help them run their businesses more effectively and efficiently. This time the event is about FreeAgent – an award winning online accounting system for small to medium sized business. I could write a whole post on the features and benefits of using FreeAgent but I thought it would be more interesting to ask a few people in the office to list their 3 favourite things: Chris: 1. The response times to support enquiries from the FA team is excellent. There is also…
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    CPACareerCoach.com

  • Day 11 – What is Personal Branding?

    Jonathan
    15 May 2012 | 6:09 am
    Over the next several days, I am going to share with you a step by step strategy for building your personal career brand online. You should have already begun the process of solidifying your personal brand on paper with a professional resume. If not, go back a few days and review the process for making [...]

  • Day 10 – What is Linkedin All About?

    Jonathan
    14 May 2012 | 8:29 am
    It still surprises me how many career professionals still have no clue as to what Linkedin is all about. I often hear questions like,”So, what is Linkedin all about?” I always try my best on this blog to talk about simple strategies related to career advancement and the job search so I thought I would [...]

  • Day 09 – 3 Common Resume Mistakes You Might Be Making

    Jonathan
    11 May 2012 | 7:18 am
    I believe that a great resume is critical to your job search process. I am still amazed at the number of professionals who do not hold it in high regard. There are common resume mistakes that many are making without even realizing it. Some workplace professionals fail to realize just how important the “look and [...]

  • Day 08 – How to Write a Resume That Gets Results

    Jonathan
    10 May 2012 | 7:00 am
    We are now going to move into a new module for our 30 day job search challenge. Hopefully, by now you have a better understanding of what your natural strengths are and how that fits into your ideal working environment. If you have not completed these exercises, then I strongly urge you to go back [...]

  • Day 07 – 5 Career Change Ideas That You Can Use

    Jonathan
    9 May 2012 | 8:00 am
    Yesterday in our 30 day job search challenge, I had you blend together your passions, strengths, and personality into an ideal career. Today our focus is in expanding your options. Many workplace professionals feel “stuck” and they fail to see the many possibilities that are available to them Are you stuck in your current career [...]
 
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    The Universal Funding Factoring Blog

  • How a Printer Solved His Cash Problem

    admin
    16 May 2012 | 7:00 am
    The owner of InWest Printing, Inc. opened the doors for business in 2007 and learned quickly the “feast or famine” nature of cash flows in the printing industry. Within the first year he had spent his start-up capital, but had managed … Continue reading →

  • Avoid an Irreversible Financial Tailspin

    admin
    14 May 2012 | 7:00 am
      Like it or not, doing business with large companies usually means you have to offer 30-90-day terms. Doing so offers small businesses a way to win, and retain, some potentially lucrative business contracts. As a matter of fact, many … Continue reading →

  • How a Staffing Company Solved its Cash Problem and Grew

    admin
    9 May 2012 | 7:00 am
    Smart business owners jump on opportunities to grow. The owner of a large temporary staffing company saw a rare opportunity to significantly grow his business in a short period of time. When the economy entered its downturn, the business owner guessed that many companies that … Continue reading →

  • 8 Ways Universal Funding Can Build Your Business

    admin
    4 May 2012 | 7:00 am
    The reason we are in business is to help you excel in yours. Companies that engage in business-to-business sales and services, and offer 30-90-day terms to their customers, are best suited for our services. Whether just starting out or preparing … Continue reading →

  • A Genius Way to Fund a Growing Business

    admin
    2 May 2012 | 7:00 am
    Let’s say you own a company that has developed an all-new, incredibly cool device that combines a camera, GPS, phone and personal assistant into one super-convenient pocket-sized device. Yes, it’s kind of like the iPhone, only better. Your device works … Continue reading →
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    Intuit News Central

  • Exciting Changes to the Intuit® Solution Provider Program

    Intuit Staff
    15 May 2012 | 4:01 pm
    Over the past several months, the Intuit Solution Provider team has worked to transform the program to manage growth and follow established industry best practices. On May 15, Intuit announced that the Intuit Solution Provider program is now the Intuit Reseller Program! In addition to the new name, the program has been updated to provide a broader range of options designed to help valued members select the option that best fits their business objectives. When Intuit began updating the legacy ISP program, careful consideration was given to the program’s ability to uniquely serve the needs of…

  • Look for Intuit’s® Cloud-Based Offerings at Upcoming Accounting Trade Shows

    Intuit Staff
    15 May 2012 | 11:01 am
    It’s almost summer, which means it’s Trade Show season for the accounting profession. Intuit is participating in a number of shows across the United States with product demos, training sessions and experts on hand to help you discover new products and answer your questions. We’ll be showing our cloud-based solutions: QuickBooks Online and Intuit Tax Online, as well as the latest versions of QuickBooks, Lacerte and ProSeries. Here’s our upcoming schedule: May 16-17: 2012 New Jersey Accounting, Business & Technology Show June 4-5: 2012 California Accounting…

  • The Clouds are Not Fleeting

    Adrian Simmons
    15 May 2012 | 8:00 am
    As accountants, we all know that information is the raw material of our industry. It’s certainly no surprise that technology, in all its increasing variations, is becoming the exclusive conduit of that information. To build on this concept and provide information to the accounting profession, the AICPA conducts an annual survey to determine what members see as this year’s top 10 priorities and initiatives in technology affecting the profession. The 2012 results of some 2,259 respondents can be found in a PDF on the AICPA website, and some interesting things emerge from reading the report.

  • PCI Fees Explained – What is PCI Compliance and Why do I Need it?

    Intuit Staff
    11 May 2012 | 1:58 pm
    In mid-March, Intuit sent e-mail notifications to Merchant Services customers regarding changes to their fees that would be effective April 1st.  These fees are associated with the PCI DSS – Payment Card Industry Data Security Standard (also referred to as PCI).  This article explains what the PCI fees are, what services PCI provides to the industry, and who is impacted. PCI DSS is a standard created by the payment card companies (AMEX, Discover, MasterCard, and Visa) to help ensure the safe handling of cardholder data throughout the payments chain. All organizations, regardless of…

  • Amazon Laws at a Crossroads

    Intuit Staff
    10 May 2012 | 8:00 am
    According to a new article written by Roger Russell, senior editor of Accounting Today, things don’t look so good for Amazon laws. The laws, which are the efforts of states to extend nexus to cover sales from remote vendors, have suffered several setbacks in recent weeks. Russell writes, “Both Colorado and Illinois laws were found to be unconstitutional. In Illinois, a state court held that the Illinois Amazon statute violated both the Commerce Clause of the Constitution and the Internet Tax Freedom Act. In Colorado, a federal court upheld an injunction and found that the Colorado law…
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    AICPA Insights

  • AICPA Celebrates 125 Years of Representing CPA Profession

    AICPA Communications
    16 May 2012 | 6:00 am
    The AICPA has reached a remarkable milestone: being one of the few organizations to celebrate 125 years. As you can imagine, the CPA profession has changed a lot over this period. Throughout the year, the AICPA and its members will be celebrating this special anniversary and reflecting on the history of the CPA profession. Since people are what make a profession, we asked members to give us their thoughts on what the AICPA means to them and the value of being part of a strong CPA profession. “The 125th anniversary of the AICPA is a testament to the 5-letter word that engulfs the profession:…

  • Creating Social Capital for Not-for-Profit Support

    Arleen Thomas, CPA, CGMA
    14 May 2012 | 6:00 am
    Ask any non-for-profit development director and they will tell you there are two ways to fundraise:  Ask 1000 people for $10 Ask 10 people for $1000 Which is the easier task? In terms of time and resources spent, certainly option B is the easier option. But in terms of broader reach and influence over a large audience, option A is a formidable contender because of something called social capital. Social capital is a concept that points to the power of networks to build a powerful entity, such as support for a cause, political candidate or even a corporate brand. NPOs increasingly rely on the…

  • AICPA Tells Congress to Keep Oversight of Investment Advisers with SEC

    James Schiavone
    11 May 2012 | 8:32 am
    As the AICPA gears up for our 125th Anniversary next week, here’s a wrap up of a few interesting accounting topics recently making the news. You can follow @AICPANews on Twitter to stay on top of all the latest official AICPA news as well as articles impacting the profession. CFO.com wrote that the AICPA raised concerns over the Investment Adviser Oversight Act of 2012 and urged Congress to keep oversight of investment advisers with the SEC. Introduced in the House of Representatives on April 25, the bill would transfer oversight of investment advisers from the SEC to a self-regulatory…

  • From Tax Preparer to Financial Planner

    Andrea Millar, CPA/PFS
    10 May 2012 | 3:31 pm
    Congratulations on making it through another tax season! As you helped your clients prepare their tax returns, did you ask yourself any of these questions? Who, if anyone, is looking at their overall financial picture? What can I do to help remove financial obstacles so they can accomplish their goals? Can I offer financial knowledge, analysis and a framework to make this person’s dreams a reality? From those long hours, including rigorous reviews and meetings with clients, you’ve gained unique insight into their lives – insight into their incomes, spending habits, investments and life…

  • Friends, Family and Finances

    Melora Heavey
    9 May 2012 | 6:00 am
    Relationships and finances can be very tricky; whether between parents and children, roommates or spouses. In fact, financial matters are the most common source of discord among American couples, prompting an average of three arguments per month, according to a survey conducted for the AICPA by Harris Interactive. More than half of adults, 55 percent, who are married or living with a partner said they do not set aside time on a regular basis to talk about financial issues. This leaves them at a huge disadvantage. It’s important for all parties involved to be aware and understand where their…
 
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    OSYB Number Crunch! Bookkeeping Tips from Outsouce Your Books.

  • Avoid Risky Business – Review Your Bank Statement Monthly

    Ed Becker
    14 May 2012 | 7:13 pm
    A client of ours (before becoming a client) lost $118,000 because they weren’t reviewing monthly statements.  I’m going to tell you this story – one that is all the more heartbreaking because the business (a bakery) was already on the brink – but first, some basics every small business owner should know (but many don’t): As a business owner, you need to stay involved with your financials each and every month.  How involved?  As a general rule, each month, I recommend reviewing your bank statements and looking for excessive bank charges and possible fraud. …

  • Is QuickBooks Right For Your Business?

    Ed Becker
    25 Apr 2012 | 1:33 pm
    If you ask business owners why they chose QuickBooks for their bookkeeping needs, you get several basic responses.  Some who say “I didn’t give it much thought but I have a friend who uses it.” Others will say “my CPA uses it” A  very select group will who rationalized their decision: talk about features, ease of use, affordability, “links with my bank,” available training programs, etc. Any entrepreneur with ambitions might start running QuickBooks by themselves but eventually get to a point when the task needs to be delegated to someone with more…

  • Is Your QuickBooks File Too Large and Slow?

    Ed Becker
    20 Apr 2012 | 9:11 am
    Many businesses come to a point when their QuickBooks file has become too large and to slow and impacts daily usage. The definition of “too large” in QuickBooks is not always clear. You can hit a ceiling based on the size of the file (defined in megabytes, or MB) or the content in the file itself (e.g. number of items) has hit the maximum. QuickBooks File size In therory, there is no limit to the size of your file, but in reality, you are getting into a danger zone in QuickBooks Pro and Premier when you get to around 150MB. QuickBooks Enterprise starts is more robust and starts to max…

  • Quickbooks Audit Trail – Who Needs It?

    Ed Becker
    12 Apr 2012 | 10:19 am
    A few years ago, the QuickBooks Audit Trail feature could be turned on and off. However, in the most recent versions of QuickBooks, the feature is always on. Even the administrator can’t turn it off. It has its drawbacks, but for the most part, it is a very useful feature, albeit under-utilized. What does the QuickBooks Audit Trail do? This feature automatically tracks all the additions, deletions, and modifications made to transactions in your data file. A report allows you to list all these changes going as far back as the audit trail feature existed. These reports are of course…

  • Tips on QuickBooks 2012 Express Start

    Ed Becker
    1 Apr 2012 | 7:01 pm
    If you missed Part I of my overview on QuickBooks 2012 Express Start, see this link: What is QuickBooks 2012 Express Start? Now for a few quick tips on getting the most out of Express Start: Importing Data The final Express Start screen gives you tools for adding or importing contacts, items, services, and bank accounts. This can be a huge time saver if you are migrating to QuickBooks from another accounting package or if you have customer data already setup in another database. However, this step isn’t required. You can skip the import step and start working in the newly created…
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    blog.aligncpa.com

  • Why do my clients ask me for a SOC 1/SSAE 16 Report?

    admin
    26 Apr 2012 | 9:32 am
    by Scott Price, Managing Director at A-lign CPAs Let’s spend a few minutes getting back to basics. Why do your clients ask for a SOC 1/SSAE 16 report to be provided?  Your clients ask because their auditors probably asked for it.  So why do your auditors ask for this report?  The roots for SSAE 16 can be traced back to SAS 70 and even further to SAS 55.  The understanding of internal controls is a fundamental component of performing a financial audit.  I spent time early in my career in the financial audit department which helps me explain to companies why a SOC 1/SSAE 16 report would…

  • The Applicability and Benefits of a SOC 3 Report

    admin
    5 Apr 2012 | 7:49 am
    by Neil Gonsalves, Director at A-lign CPAs Several of our clients, current as well as prospective have posed a question to us about the applicability of a SOC 3 report and its benefits.  I thought some additional information drawing clarity to the question will be beneficial to others who read this Blog especially for those that have the same question. So what is a SOC 3 report?  A SOC 3 Report is a report on controls at a service organization addressing matters other than financial reporting.  A SOC 3 report is prepared using the AICPA/Canadian Institute of Chartered Accountants (CICA)…

  • Impact of the HITECH Act on HIPAA Compliance

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    19 Mar 2012 | 9:40 am
    by Gene Geiger, Director at A-lign Security and Compliance Services The Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) introduced Privacy and Security regulations to protect protected health information (“PHI”). HIPAA was primarily directed at healthcare providers, health care clearinghouses or health plans (such as an insurance company), which are referred to as covered entities (“CE”). As part of the American Recovery and Reinvestment Act of 2009 the Health Information Technology for Economic and Clinical Health Act (“HITECH”) expanded the…

  • ISAE 3402 – A Global Standard for a Global Marketplace

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    6 Mar 2012 | 11:09 am
    By: Scott Price, Managing Director at A-lign CPAs As companies emerge in an ever growing global economy newly adopted accounting principles and standards allow potential clients insight into the prospective organization.  The new globally accepted framework, International Standards for Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization creates transparency and more clarity when reporting on controls at service organizations.  SAS 70, the standard used globally by many practitioners, was superseded because it had been showing its limitations for a…

  • Simplifying Your Audits

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    5 Jan 2012 | 1:06 pm
    by Gene Geiger, Director at A-lign Security and Compliance Services In today’s world of industry and governmental regulations I know it seems like there is a revolving door of auditors, assessors and examiners visiting your location. Although we know you love seeing us and can’t wait till the next team of auditors show up so you can clear your calendar of real work to facilitate another audit, there are ways to minimize the operational impact the audits have on your organization. Audit Schedule Audits have various reporting periods and evidence requirements. Audit evidence for a point in…
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