Accounting

 
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    Topix: Accounting News

  • SA corporate crime looks bad, but it's even worse

    20 Nov 2009 | 8:58 am
    Despite the already high levels of fraud in South Africa - which at 62 percent is more than double the 30 percent global average - there is a strong possibility that many incidences remain undetected.

  • Report: Russia No. 1 in Economic Crime

    20 Nov 2009 | 12:45 am
    Companies in Russia experienced more economic crime this year than anywhere else in the world, according to a report released Thursday, which underscores the difficulties facing an ambitious Kremlin plan to curb corruption and lawlessness.

  • After Hours: Dell shares hit; Intuit outlook misses mark

    19 Nov 2009 | 8:29 pm
    Dell Inc. shares dropped sharply Thursday evening, with the personal computer maker's quarterly adjusted earnings and sales coming lower than Wall Street's projections.

  • Senior management fraud highlighted in survey

    19 Nov 2009 | 12:24 pm
    Fraud is a widespread and serious problem for New Zealand businesses, and it is increasingly being committed by middle and senior management, according to a survey.

  • Corporate crime up on Canada, study says

    19 Nov 2009 | 8:17 am
    In terms of who's committing the crimes, 59 per cent of Canadian organizations affected said the perpetrator was external to the company, while 38 per cent said the main person involved was an employee.
 
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    BigNewsNetwork: Accounting

  • Accountant died crossing the road

    20 Nov 2009 | 1:53 pm
    The inquest into the death of well-known local woman Dru Hamm has been opened and adjourned. Evidence showed the 38-year-old chartered accountant was killed crossing the road outside the Hop Garden pu...

  • 54% of accountants say company is unprepared for recovery

    20 Nov 2009 | 1:53 pm
    Ajilon Finance Solutions, a leading provider of senior level financial and operations expertise, on November 19 announced findings from its latest survey, which shows that accountants believe their co...

  • KPMG lands two accountancy awards

    20 Nov 2009 | 1:53 pm
    News by category KPMG has landed two accolades at the Accountancy Age Awards 2009. The firm was given the Audit Team of the Year and Business Recovery Project of the Year titles at a ceremony in Londo...

  • Everything You Need to Know

    20 Nov 2009 | 1:30 pm
    Virtual Desktop Cost-Benefit Analysis — Michael Jacobs, Catlin Group The analysis contained in this presentation measures the cost of everything from the machines and licenses to the infras...

  • Mass layoffs rise in Missouri, fall in Kansas

    20 Nov 2009 | 1:28 pm
    said Friday. Kansas had 13 mass layoffs in October, down from 15 in September and 18 in October 2008. Missouri had 2,556 initial claims for unemployment insurance related to the October mass layoffs...
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    re: The Auditors

  • @Going Concern “Lost Your Job? No One Cares!”

    My new post is up @Going Concern. "You may have been cut from one of the audit firms in the past several months. You may still be working but feeling a bit insecure. The cuts have been well documented here and on re: The Auditors. Regardless of how much the firms ...

  • The FEI CFRI Conference…And More

    Charlotte: Let's never come here again because it will never be as much fun. ******************************************************************************************* I've just wrapped up two days of conference attendance here in New York City - The FEI Current Issues in Financial Reporting Conference and the Directorship Boardroom Leaders Forum. How were these conferences the same: Attendees were corporate ...

  • Where The Wild Things Are… FEI’s CFRI Conference Next Week NYC

    I'm off to NYC next week to cover FEI's Annual Current Financial Reporting Issues Conference. In addition to spending some time with my friend and technical guru, Edith Orenstein, I hope to see even more people at some formal and informal gatherings. It's been a while since I last visited New York. ...

  • Privacy Policy and Terms of Use

    Last week was a very busy and very difficult week at re: The Auditors HQ. However, those of you who lost your jobs at PwC and other firms, or those who were left behind with survivor’s guilt, faced much tougher challenges. Yes. Look to your left, look ...

  • Taking Your Pulse

    Taking Your Pulse Sunday morning 11/08/09 How many different ways can you search for news of the PwC Advisory layoffs and find this blog? 7 habits of strong ehical leaders big 4 coached out unemployment big 4 salary big 4 starting salary big four salaries nyc blog november, auditors, pwc advisory bonus of big 4 deloitte resignation procedure graduate enron ...
 
 
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    Deloitte LLP

  • Broadband Stimulus Program: Untapped Opportunities?

    The American Recovery and Reinvestment Act of 2009 opens the door for technology, media and telecommunications companies. Among the programs included is one for broadband expansion. Are you ready to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Changing Channels: Insurance Company Sales Models

    Should insurance companies embrace new, direct-to-consumer sales channels, or stick with the traditional producer-focused model? [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Retail Medical Clinics: Update and Implications - 2009 Report

    Despite the recession, overall growth of the heath care retail clinic market has increased approximately 15 percent in the past two years. Growth, however, will likely slow to 10-15 percent from 2010... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • If We Can Put a Man on the Moon: Getting Big Things Done in Government

    The American people are frustrated with their government — dismayed by a series of high-profile failures. Yet our nation has a proud history of great achievements. Explore this new Harvard Business... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

  • Punit Renjen Named Chairman and CEO of Deloitte Consulting LLP

    Deloitte Consulting LLP has elected Punit Renjen as its new chairman and chief executive officer in the United States. Renjen has more than 22 years of experience with Deloitte Consulting. For the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
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    Deloitte Debates

  • Changing Channels: Insurance Company Sales Models

    19 Nov 2009 | 1:03 pm
    Should insurance companies embrace new, direct-to-consumer sales channels, or stick with the traditional producer-focused model?

  • Sales Quotas in Uncertain Times

    11 Nov 2009 | 1:03 pm
    The economic crisis is making it hard for sales teams and companies to meet their sales goals. Should companies take a hard line or a kinder and gentler approach to incentive plans?

  • The Workplace of Tomorrow: Productivity Engine or Safe Haven for Slackers?

    4 Nov 2009 | 1:03 pm
    Some organizations aren't convinced that a flexible and mobile workforce is a good idea. Should your company enable the workplace of tomorrow – or is business as usual the right choice for now?

  • Bring Manufacturing Jobs Home?

    20 Oct 2009 | 12:29 pm
    The gap in structural costs between U.S. and offshore manufacturing has shrunk by almost half in the past three years. Some companies are already bringing jobs back home. Is that trend likely to continue?

  • Which is Better: Outsourcing and Shared Services?

    14 Oct 2009 | 12:29 pm
    Given current and future trends in shared services and outsourcing, is it better to outsource to a vendor? Consolidate to an in-house shared services center? Or a combination of both?
 
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    Deloitte Health Care

  • Retail Medical Clinics: Update and Implications - 2009 Report

    19 Nov 2009 | 1:03 pm
    Despite the recession, overall growth of the heath care retail clinic market has increased approximately 15 percent in the past two years. Growth, however, will likely slow to 10-15 percent from 2010 through 2012, and will accelerate above 30 percent from 2013-2014. Learn more.

  • The Shift Index 2009: Industry Metrics and Perspectives

    11 Nov 2009 | 1:03 pm
    The Deloitte Center for the Edge has released "The Shift Index Industry Metrics and Perspective," an industry-specific version of its Shift Index, featuring nine key sectors. The initial version of its groundbreaking Shift Index was released in June 2009.

  • Sales Quotas in Uncertain Times

    11 Nov 2009 | 1:03 pm
    The economic crisis is making it hard for sales teams and companies to meet their sales goals. Should companies take a hard line or a kinder and gentler approach to incentive plans?

  • Your Turn: Growth

    4 Nov 2009 | 1:03 pm
    Whether or not you're a believer in "green shoots," you're likely watching closely for signs of a swing from cost cutting back to growth mandates. But every growth initiative comes with inherent costs and risks as well as benefits. Explore our latest resources on investing in growth.

  • Scenario Planning in Life Sciences R&D: Planning for Uncertainty

    20 Oct 2009 | 12:29 pm
    A recent survey found that, 30 percent of pharmaceutical R&D executives surveyed believe their companies will have to change completely to face future risk, and 82 percent of biotechnology executives believe their companies need to endure major transformations to address future risk and uncertainty.
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    Deloitte Human Capital & Talent

  • The Workplace of Tomorrow: Productivity Engine or Safe Haven for Slackers?

    4 Nov 2009 | 1:03 pm
    Some organizations aren't convinced that a flexible and mobile workforce is a good idea. Should your company enable the workplace of tomorrow – or is business as usual the right choice for now?

  • Equipping the Federal Workforce for the Cyber Age

    20 Oct 2009 | 12:29 pm
    There is a need, not only for high-level information security training and certification, but for a higher degree of Cyber acumen and awareness coupled with new cultural sensitivity across all levels of federal agencies to meet new requirements and expectations around collaboration, transparency and openness.

  • The SEC’s Proposed Amendments to its Proxy Disclosure Rules

    17 Sep 2009 | 12:35 pm
    On July 10, 2009, the Securities and Exchange Commission (SEC) issued a series of proposed amendments to its proxy disclosure rules. The rules, which were voted on and approved unanimously, would significantly modify and expand the scope of information required to be included in the annual proxy.

  • Top 10 List for Employee Retention During a Recovery

    17 Sep 2009 | 12:35 pm
    Executives may be tempted to downplay the effects that cost-cutting survival strategies have on employee retention, but decreasing focus on human capital management may cause an increase in turnover intentions, with many employees planning to jump ship once the economy improves.

  • Steering Through an Unpredictable World: Strategies for the CHRO

    27 Jul 2009 | 12:41 pm
    It’s critical for the CHRO to find the right balance between reducing workforce and operational costs. Learn more about key strategies CHROs should consider in this Consumer & Industrial Products perspective.
 
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    Accounting News and Notes

  • Gwinnett CPA on Whether You Should Incorporate Your New Georgia Business or Convert Your LLC to an S Corporation for tax purposes

    John Dillard
    20 Nov 2009 | 5:39 am
    Recently I received an inquiry from my website which is listed below:  I found your website…love the Christian approach. I’m in need of a Profit and Loss statement from a CPA quickly for a loan modification I’ve applied for. I am a Realtor…and have some minor expenses from my commission checks. I can drum up receipts for the desk fee and website fee, but the rest is minor for gas (lunches with prospects) and one rebate I have not gotten a cashed check back for. They don’t add up to much, and would almost be willing to take them out if you would have to have…

  • Ethical Will—Not the Only Way

    John Dillard
    19 Nov 2009 | 11:40 am
     Ethical Will—Not the Only Way   If you feel strongly enough to commit your values to writing, why not discuss them with your family now? An ethical will is essentially a letter from you to your family that articulates your values and beliefs, relates the life lessons you hope to pass on and spells out your aspirations for your family. In theory, writing an ethical will sounds beneficial and fulfilling—and the fact that more clients are asking about it reflects the growing realization that one’s legacy consists of much more than the tangible things we leave to our heirs. But in…

  • Gwinnett CPA Teaches Utilization of Promissory Notes to Protect Your Georgia Based Business

    John Dillard
    19 Nov 2009 | 9:00 am
    Gwinnett CPA Teaches Utilization of Promissory Notes to Protect Your Georgia Based Business Recently I received the below inquiry seeking advice on setting up a Promissory Note: Is there a “normal or required” period that a Loan To Shareholder needs to be repaid? The below is my response: The “normal amount” would be what a bank would routinely do as a practical matter of doing business. With all loans you will want to ensure that you have a promissory note signed by all parties confirming the terms and conditions. Frequently businesses and individuals alike may extend, grant…

  • Gwinnett CPA on Navajo Family Missions: Should Your Family Served God in the Mission Field?…Taking Christianity Into the World

    John Dillard
    19 Nov 2009 | 5:45 am
    Gwinnett CPA on Navajo Family Missions: Should Your Family Served God in the Mission Field?…Taking Christianity Into the World  Recently I received a note from one of our very important team members that speaks volumes as to why I believe that Mission work is one the very best ways to release God’s power into your life. I invite you to read it solely and listen to God’s pulling on your heart.  Good morning family.  It always amazes me of God’s perfect timing.  Last evening some of us met to discuss future plans for our next visit to our second home, Pueblo Pintado…

  • Gwinnett CPA Serving the Lost, The Last and The Least This Thanksgiving: Feeding the Homeless of Atlanta …Taking Christianity Into the World

    John Dillard
    19 Nov 2009 | 5:30 am
    Gwinnett CPA Serving the Lost, The Last and The Least This Thanksgiving: Feeding the Homeless of Atlanta …Taking Christianity Into the World Jesus came to Serve the World and not to rule over us. He made himself like a servant desiring to be the very least among us choosing to be obedient, even to death on a cross. Though Jesus could have, at any time, called down a legion of angels to take over the world so that He might rule it, instead he desired to be more like a bondservant rather than a King. It is in his perfect example of humility, which is Power Under Control, Jesus Chose to…
 
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    Golden Practices

  • 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…

  • Disenchanted with the New Facebook?

    Michelle Golden
    26 Oct 2009 | 7:58 am
    I'm hearing it everywhere. People are pretty heated over the changes Facebook rolled out last week. Other than some technical problems I'm having with errors and actually using the site, I think there is actually some good potential in the changes they've made. First, let me reassure you that your "old" News Feed view is still there! Just choose "Status Updates" in the left column. If you want that as your default, just grab it and drag it to the top of the stack. So the new News Feed is a filter set up to show you the most popular items...the items people are engaging with on your wall and…

  • Social Media Risk Tolerance Quiz for Firms

    Michelle Golden
    13 Oct 2009 | 9:17 am
    I'm working on some risk assessment tools for firms to use to determine the level of rigidity (or lack thereof) needed in their own social media policies--and firms' likelihood, or not, of success in using social media tools to their full potential. And I wholeheartedly believe that, while some potential risks exist (liability, etc), such policies are primarily anchored to the level of trust within an organization. I like to keep things simple so I created a 3 question "Quiz" for firms to assess the strictness of their policies governing, well, everything--but particularly: Communication,…

  • What is it With Disclaimers?

    Michelle Golden
    3 Sep 2009 | 3:10 pm
    Some interesting albeit frustrating discussions about disclaimers lately. These relate to websites.Before I get into this, I want to state that I am not a lawyer, I do not pretend to be a lawyer, nor do I know more than lawyers on the topic of legal liabilities. (I hope that adequately protects me...you'll see the irony later.).  AND, if any IP or other attorneys, especially those WELL ACQUAINTED with web and social media would please add their .02, here, I would be thrilled!Now to my topic. It involves two scenarios...OUTBOUND LINK DISCLAIMERSAn association whose board (comprising leaders…
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    Beancounter Ramblings

  • What is a Qualified Charitable Organization?

    Chad Bordeaux
    18 Nov 2009 | 3:51 pm
    With the pilanthropic season ahead of us, I thought it might be a wise idea to explain what a qualified charitable organization is – at least according to tax law.  Donations to qualified charitable organizations are typically deductible on individual income tax return, but what is a qualified charitable organization?  Many times, people will think that donations can be deducted when they can not.    An example that I usual bring up to explain this is related to a local homeowner’s association in the area.  At least once a year, they send out a flyer that promotes a…

  • Invest in Yourself… with Toastmasters

    Chad Bordeaux
    23 Oct 2009 | 5:52 am
    I first blogged about Toastmasters when I became involved in the organization in early 2008 (Click here for the Toastmasters post).    Now that I have been involved with it for quite some time, I thought I should expand a bit on that prior post.  When I first heard about Toastmasters, I admit that I had know idea what they did.   Did they make toasters?   Where they a bakery that specialized in hundreds of unique types of toast?  When I would hear the name of the group, I could just picture someone standing in front of a large room, holding up a glass, and giving a “toast” to…

  • Roth IRA Conversion Rules Changing – Have You Reviewed Your Tax Plan – Part V

    Chad Bordeaux
    21 Oct 2009 | 2:00 pm
    This is final part of a five part series of posts related to Roth IRA Conversions and the rule changes that go into effect on January 1, 2010. As mentioned in prior posts in this series regarding Roth IRA Conversions, I will explain the rules around Roth IRAs, as well as what the recent changes in the law means. I will also provide you with some reasons to convert, as well as some reasons not to convert. In addition, my final post will include some tax planning tips around the Roth IRA. For other posts in this series, please visit: Part I: What is a Roth IRA? What is changing about Roth IRA…

  • Roth IRA Conversion Rules Changing – Have You Reviewed Your Tax Plan – Part IV

    Chad Bordeaux
    20 Oct 2009 | 4:15 am
    This is forth part of a five part series of posts related to Roth IRA Conversions and the rule changes that go into effect on January 1, 2010.  As mentioned in prior posts in this series regarding Roth IRA Conversions, I will explain the rules around Roth IRAs, as well as what the recent changes in the law means. I will also provide you with some reasons to convert, as well as some reasons not to convert. In addition, my final post will include some tax planning tips around the Roth IRA. For other posts in this series, please visit: Part I:  What is a Roth IRA? What is changing about Roth…

  • Smart’n Up with… GET MOTIVATED!

    Chad Bordeaux
    16 Oct 2009 | 8:40 pm
    Zig Ziglar is appearing at Get Motivated! in Charlotte on October 29, 2009. If you are around the Charlotte area, this is a must do event for personal development!    Get Motivated! is a dynamic seminar series that is put on by Peter Lowe that features some of the best speakers from around the Country. The good news is that it is coming to Time Warner Cable Arena (aka Bobcats Arena) in Charlotte on October 29th!  Even better news is that it only cost $4.95 per person (or $19 for your entire office)!  The price at the door is $225/person, so register in advance!  (Note, prices are not…
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    Skeptical CPA

  • Madoff on the SEC

    20 Nov 2009 | 4:07 pm
    "Bernard Madoff was dismissive of a compliance examiner involved in a [SEC] inspection into his firm, calling the man a 'blowhard' who talked tough, but didn't look at anything. ... [David Kotz's] report found that the SEC received six substantive tips over 16 years, but still failed to detect the fraud because of inexperienced staff, delays and a lack of communcation. ... 'It's very easy to do a third-party check. It's an absolute must,' Mr. Madoff said of how one investigates a Ponzi scheme. 'It's accounting 101.' ... Mr. Madoff said he thought he might get caught during another enforcement…

  • Economists Don't Learn

    20 Nov 2009 | 7:29 am
    "The pain of the financial crisis has economists striving to understand precisely why it happened and how to prevent a repeat. For that task, John Geanakopolos of Yale University takes inspiration from Shakespeare's 'Merchant of Venice.' ... For years, his effort to understand this process didn't draw much interest. Now it does--yet another aftereffect of the brutal deflating of the credit bubble. ... Mr. Geanakopolos is among a small band of academics offering new thinking about those cycles. A varied group ranging from finance specialists to abstract theorists, they are moving to economic…

  • Old South Smacks NYT

    19 Nov 2009 | 4:23 pm
    Old South has a 1 November 2009 post smacking Frank Rich of the NYT. I thought about writing something similar, but decided not to. The NYT's arrogance is almost beyond belief. Here's a link: http://mainstreetmattersmore.blogspot.com/2009/11/frank-rich-and-gop-stalinists-invading.html.

  • Feeding the Vampire Squid

    19 Nov 2009 | 4:19 pm
    Calculated Risk has a 1 November 2009 post about Vampire Squid's (VS) bets on the US housing crash and how it sold clients mortgage-backed securities while expecting they would fall in value. Here's a link: http://www.calculatedriskblog.com/2009/11/report-on-goldmans-bets-on-housing.html. Is anyone surprised VS stuck its blood funnel into its own clients? Here are some of my VS posts relevant to its conduct, 16 December 2007, 22 February 2009 and 29 May…

  • More Bad Bank Accounting

    19 Nov 2009 | 7:47 am
    "Federal bank regulators issued guidelines allowing banks to keep loans on their books as 'performing' even if the value of the underlying properties have fallen below the loan amount. ... Regulators said that the rules were designed to encourage banks to restructure mortgages with borrowers rather than foreclose on them. But the move has prompted criticism that regulators are simply prolonging the financial crisis by not forcing borrowers and lenders to confront, rather than delay, inevitable problems. The guidelines, released on Friday by agencies including the [FDIC], the [Fed] and the…
 
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    Life and Times of Accounting

  • Right Time ... Right Place ...

    20 Nov 2009 | 12:39 pm
    Well yesterday I was sitting with my Mom and my husband listening to the news while we waited for my Mom's dinner to arrive.The announcer started to talk about the recent controversy surrounding the study indicating women should have mammograms every 2 years, versus every year.So, of course, he got my attention. I am getting up there in years ... so this is an issue of extreme interest to me.Then there on the screen appeared, Pat O'Neill ... a friend and business associate. She was at one of the screening centers, so of course the media stuck a microphone in front of her.My husband blurts out…

  • Efficient Use of Time and Space ...

    19 Nov 2009 | 12:16 pm
    Does your office look uncluttered like this? If not, why? I am moving toward ... an uncluttered work station and office. We are organizing everything on our computers and scanning in every source document we can. I need to look at stuff, but I don't need a file cabinet full of PAPERS. My shredder is working overtime! I love it when a client says they don't need a hard copy of that tax return ... a PDF copy is sufficient. We keep a PDF of each return and the original return itself in the tax software. All is backed up onto tape nightly and encrypted and stored off site nightly too ... out of…

  • No more PINTS!

    17 Nov 2009 | 1:20 pm
    For those that know me, you know that my weakness is this lovely picture! I can eat a PINT of this stuff every night (minus the pecans). I know it isn't healthy but hey, some people crave chocolate or those silly swedish fish things. I've been trying to cut back and I was down to maybe 4 pints a week vs the usual 6 or 7. Well, Haagen-Dazs has decided to help me kick my habit.THEY NO LONGER MAKE PINT SIZES! They have cut them down by 2oz!So I say Thank You HD! Now I don't feel so bad when I go into a nightly coma of your delicious ice cream! Author: Angela Williams

  • Liberty and Justice ...

    17 Nov 2009 | 9:28 am
    Well, it may have been a cloudy day on Saturday, but we could still see the Statue of Liberty standing there in all her glory. While we stood in line to climb up the 156 steps ... the elevator was broken anyway, we got to read over a card full of those little known facts about Ms. Liberty. Did you know her face was 9 ft long and that she weighs 225 tons? Now if that is not something to brag about! Of course, at her weight class ... you better not mess with her. She is IMPRESSIVE!!!

  • How Smart are You? ...

    16 Nov 2009 | 12:28 pm
    Well you may have heard of Iphones, but have you heard of Smart Boards? These are the latest teaching tool ... of the future. The boards allow the teacher to be at a laptop computer and show the class how to do things via the Smart Board hooked to her laptop. With special pens, the student can even touch the screen and it will interact with them ... just like the computer. How very neat is that! We saw a classroom at the YouthBuild Public Charter School last week. The classroom had the very latest technology and was teaching students different software and use. The Smart Board was part and…
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    A Counting School

  • Suitably Epic Goodbyes: the Legendary Philadelphia PwC Resignation Letter

    Krupo
    18 Nov 2009 | 4:29 pm
    If you're working with well-connected people you may have seen this already. I've received multiple copies: it's been uploaded to one site specializing on the topic and it was also shared by Life of an Auditor. the latter being the first to publish it, on August 31, 2009.Forwarded copies, rather than those found on websites, interestingly enough, always feature a different chain of "Big Four plus More" e-mail addresses, identifying scores of people who were CC'd, and a silent mass of BCC'd people whose privacy is left intact.What is this artefact?A simple…

  • Ernst & Young layoffs are being watched while the job rollercoaster continues to careen madly

    Krupo
    17 Nov 2009 | 10:22 pm
    Hot on the heels of the PwC discussion regarding people getting "packaged off", comes another eye-opening post - this courtesy of Going Concern, which discusses layoffs at Ernst & Young. The post primarily concerns the E&Y offices in the USA, though there's a growing thread of commentary including updates concerning offices from across the globe. And it currently tails off with rumours of upcoming cuts at KPMG in January, though that timing makes absolutely no sense to me considering that's the start of "busy season" for almost everyone!As you can imagine…

  • Dark days at PwC advisory: word of layoffs leaked, chaos ensues

    Krupo
    7 Nov 2009 | 11:52 pm
    PriceWaterhouseCoopers Advisory has made some significant cuts to their US workforce, as mentioned off-hand by Francine and discussed in detail here Skip down to comment 4 in the post for an interesting dissection of firm revenue math and the possible impact it'll have on partner income. It's a topic everyone seems to be curious about knowing more about, gets very little information about, and is often to afraid ask questions about - so go check out "TT"'s breakdown and the follow up if you want to know more. Or skim all the way down to comment 114, which points out that…

  • Getting staff to assist you before you go on sweet leaves of absence

    Krupo
    25 Oct 2009 | 6:41 am
    An example of "what's it like to be a senior staff" writing seems in order, after all the drama of the nasty early fall combined recruiting, layoff and UFE exam analysis season.The thought of explaining what it's like to run jobs with eager young staff ready to assist you came about, ironically, after noticing that Stuff Accountants Like, an unashamed homage to the inventor of the online genre, Stuff White People Like, announced their site is going on an LOA, an extended vacation - I found it amusing that my search for the SWPL link led me to their article about taking a…

  • Rough "layoffs" right after the 2009 UFE at CA firms: more details emerge

    Krupo
    5 Oct 2009 | 10:14 pm
    The sad news I broke ten days ago about "layoffs" hitting writers coming back from the UFE is being discussed in greater detail at mycasite.com. Click here to go to the article and read more details about the unfortunate "welcome back from the exam, pack your desk up right away" terminations. What's most troubling about all this is the fact that the website of the firm in question (which one of the unfortunate former employees identifies here) actually has, as of writing, a job posting for a CA articling student. Uh, what, sorry? If I was drinking something at the…
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    AccMan Pro

  • Benefits of cloud accounting

    We often hear about how the SMB SaaS/cloud accounting vendors are driving value for the very small 'mom and pop' shops. Now we're starting to hear from early adopters of more 'grown up' solutions. In this short video, Sallie Kennedy, CFO at The Compliance Team Inc describes a couple of ...

  • How online services crush everything

    I'm part way through a complex travel schedule. Anything that relieves the pain of organizing flights, hotels, transfers and meetings is a massive bonus. Yesterday I wrote on IT Counts about TripIt and how it helps me solve these problems. I also mentioned ExpenseBay, a service I've just started to ...

  • Pay to play does cut it?

    David Dobrin picked up my theme on whether 'pay to play' does cut it in the 21st century. David's analysis is generally geared more towards providing insight for the investment community rather than either the buy (customer) or sell (vendor) side in the world of IT analysis. I've known David ...

  • AccountingWeb’s pay to play arm twister for SaaS players

    Some of the SaaS vendors have forwarded me an email they received from AccountingWeb which says: The following is an invitation to take part in a major product for the SaaS market next year and beyond. In response to overwhelming demand from both our members and the vendor community AccountingWEB is proud ...

  • Xero’s half year: a good result

    Last Friday I fielded a quick call with Hamish Edwards and Gary turner of Xero while stood in the pouring rain on a London street. It was the only place I could get a decent connection. Anyhoo, Hamish talked through the results. By the numbers: Operating revenues from customers of $1.3m, ...
 
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    Ambitious Accountants

  • “Added value” – what do you mean?

    bookmarklee
    4 Nov 2009 | 4:00 am
    Many accountants and other service providers talk about providing “added value” to their clients. A friend of mine, Marcus Cauchi (who is a seller who trains selling not a trainer who teaches sales) makes the point that: “Added value” is only added value if the prospect acknowledges a real (or perceived) need for the particular aspect of the [...]

  • “I doubt I’ll sell my practice when I retire”

    bookmarklee
    2 Nov 2009 | 1:13 am
    A smaller practitioner shared this view with me recently. He is 60 and his current turnover is around £120k. He said to assume his net profits are around £80k pa. My friend had noted that were he to sell his practice he would be lucky to secure a capital sum of much more than £120k (being [...]

  • Is it worth the time it takes to learn how to use social media?

    bookmarklee
    1 Nov 2009 | 3:54 am
    A lot of people choose not to explore social media as they don’t have the time. In effect they want to know if they will be able to identify a ROI for the time spent learning about and engaging with other people through online social media? In the same way as you might ask the question [...]

  • ‘Social’ vs anti-social networking

    bookmarklee
    19 Oct 2009 | 12:55 am
    Whenever I am asked to speak about ’social’ networking to audiences of professional advisers I insist on the quote marks. In my experience most advisers aren’t excited by the the idea of social activities when they’re working. And if anyone wants to encourage accountants (and, I would expect, most other professional advisers) to get involved [...]

  • Does ’social’ networking force you to REDUCE your fees?

    bookmarklee
    1 Oct 2009 | 12:49 am
    It seems there is a tricky balance to be made here. I’ve written previously about how networking, whether online or offline, can be an effective way to secure new clients of the type you want – just as long as those with whom you network know enough about you, like you, trust you and know [...]
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    The EyeShade

  • Is “Independent Standards Setting” a Sacred Cow?

    MJRamos
    11 Nov 2009 | 3:36 pm
    I’m starting to think it is. I’ve been spending some time the last couple of days digging deep into fair value accounting, and I’m struck by how unnecessarily absurd the whole exercise turned into.  Read my comments here. Today I came across an old article from 2007 in the CPA Journal, which is published by the New York Society.  (In my mind, it’s one of the best publications for serious accountants out there.)  The article is about fair value accounting.  Here’s an observation that ring true to me. Though SFAS 157 raises significant unresolved issues for the…

  • Will Ideological Purity Kill the FASB?

    MJRamos
    9 Nov 2009 | 4:06 pm
    I’m no big fan of the Perlumtter amendment.  I see it as a naked power grab by the ABA and their ilk, who I don’t trust at all. That being said.  I feel their pain. One of the more painful lessons I learned from SOX was that AS2 wasn’t very good.  All due respect to Doug Carmichael, in retrospect AS2 was far too academic/theoretical and not practical enough.  This is coming from the guy who was (and still is) a big fan of  SOX 404 and who originally thought AS2 was great. I got it.  I understood that the standard never envisioned people documenting every single control…

  • Congressman Perlmutter Disappoints. Again

    MJRamos
    7 Nov 2009 | 7:18 am
    Floyd Norris reports. This year, a subcommittee of the House Financial Services Committee held a hearing at which legislators sought no facts but instead threatened dire action if the chairman of the financial accounting board did not promptly make it easier for banks to ignore market values of the toxic securities they owned. The board caved in, which may be one reason why banks are reporting fewer losses these days. But the board’s retreat was not enough to satisfy the banks. The American Bankers Association is now pushing Congress to give a new systemic risk regulator — either the…

  • AccountingWeb Erases the Line Between Reporting and Opinion

    MJRamos
    5 Nov 2009 | 7:29 pm
    Am I the only one who’s noticed? In April they did a piece slamming the Obama administration for an increase in the cigarette tax and claiming that the President violated a campaign pledge.  The editors at AccountingWeb took their talking points from Americans for Tax Reform, the group founded by Grover Norquist.  Mr. Norquist wants to abolish the IRS, the Department of Education, and the FDA, which I find to be more than two standard deviations outside of the mainstream, but feel free to draw your own conclusion. Next up for AccountingWeb was a rousing defense of PWC and their AHIP…

  • Working the Crowd

    MJRamos
    5 Nov 2009 | 6:17 am
    Not too long ago I was at a big lunch with a fair number of politicians plus regular folks like me–probably 20 – 25 tables of 10 people each, all squeezed in pretty tight.  Between the main course and the dessert, all the politicians got up from their tables and started wandering the room, looking for people to talk to, shake hands, etc. Then the servers come out, and the place is pretty packed, and the servers are bobbing and weaving their way through the crowd.  The MC for the event steps up to the microphone and says “Will everyone please take their seats.  There is…
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    TickMarks

  • A Famed Political Blogger Considers Dave Ramsey and Financial Peace

    18 Nov 2009 | 2:45 pm
    Well-known political blogger Meg McArdle (Asymmetric Information, guest blogger at Instapundit) takes a trial of Dave Ramsey's Financial Peace with her fiance and writes about the experience at Atlantic magazine. McArdle found that she was more careful with her spending when she left credit cards behind (not to mention the strange looks which she got when she paid in cash at a boutique). She points out that this "Grandma" plan had not so much found wanting as found difficult in a financially more flush time. She ended the experience impressed by the sense of empowerment that she felt, though…

  • Brazen Biofuel Bilk--Another Ponzi Scheme Pollutes the Investment Environment

    17 Nov 2009 | 5:47 pm
    The Securities and Exchange Commission has charged Mantria Investment, Speed of Wealth LLC, Wayne and Donna McKelvy, Troy Wragg and Amanda Knorr with investment fraud in the marketing of a "green" residential community in rural Tennessee and a "biochar" charcoal substitute. According to the SEC, the defendants (Mantria, Speed, the McKelvys, etc.) actually were running a Ponzi scheme with virtually no actual revenue and no return to investors except perhaps a share of receipts from later investors. The defendants primarily targeted elderly individuals through seminars and "webinars." The SEC…

  • Twelve Blog Update: New Blogs Added

    14 Nov 2009 | 7:11 pm
    Couple of new developments towards the upcoming Twelve Blogs of Christmas season. First of all, note that all members of the "Twelve Blogs" (except personal finance) now are in bold with date of acceptance (e.g. 05: awarded Twelve Blog status in 2005) as an additional way to honor these blogs. The personal finance blogs will likely get similar status at some future time when my life is less intense. Additionally, several blogs, including pfblogs in Personal Finance and Tax Info Blog in Tax, have gone dormant and need to be replaced. Additionally, in the Accounting area, the Accounting Web…

  • Obama Contemplates Using an Emergency Brake on Spending

    14 Nov 2009 | 6:07 pm
    The Obama administration signaled to federal agencies that spending freezes and even actual cuts (not just "cuts" from the current services budget) are possible for the upcoming year. The impedus for action comes from numerous sources: expressed concerns from Asian nations, belief that record deficits imperil Democratic congressional prospects in 2010 and the effect that independent voters had in Republican governorship races in NJ and VA earlier this month. Budget director Peter Orszag indicated that such spending proposals might have to be modified with the present momentum towards recovery…

  • No IRS VITA "Seed" Money for ACORN

    11 Nov 2009 | 8:20 am
    The Internal Revenue Service recently awarded about $8,000,000 in matching grants for its Volunteer Income Tax Assistance Program and the controversial community group ACORN was not among the receipents. ACORN was recently embarrassed by amateur videos of its activities subsequently shown on conservative outlets such as the Big Government website and Hannity's Fox News show. Among the almost 150 groups which did receive VITA funding were the Bay Area (CA) United Way and AARP.I am somewhat puzzled as to why taxpayers are providing $8 million for a VOLUNTEER activity in the first place. Having…
 
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    NJSCPA Exam Cram Blog

  • I Passed!

    Ryan McDonough
    19 Nov 2009 | 7:19 am
    Hi everyone, I got my score back for FAR, which I took on October 9th, yesterday--I passed!  I got an 81. No time to celebrate, though.  I still am going through REG which I will take in about a week and a half (November 30th).  Receiving a passing score was good to keep me motivated, though.  At least I now know that my study strategy is working.  Again, I read all the lectures and complete the multiple choice and simulations as I go.  Then I go through the multiple choice again while I skim the chapters.  Finally, I take the practice…

  • Good Luck - More Scores are being posted!!

    Janice Amatucci
    18 Nov 2009 | 4:01 pm
    You should start seeing BEC & AUD scores.  The AICPA had a slight technology issue yesterday afternoon which delayed the process. It has been fixed. Share with us your news!

  • Failure is not an option!

    Janice Amatucci
    13 Nov 2009 | 12:07 pm
    Don't forget.  We are holding our first ever CPA Exam study session at the Society's offices in Roseland on Thursday, November 18, at 6pm.  There will be a workshop provided by Becker Professional Education on tips and traps to watch out for. This will be followed by a panel discussion with three recent CPAs (Scott Sandford, our very first blogger will be one of the three) who will discuss their experiences and answer questions.   Immediately following, we will break out into study groups and three Becker…

  • Wrapping things up for the final review

    Ryan McDonough
    13 Nov 2009 | 8:34 am
    Hi everyone, I hope you are all studying hard and staying positive--there is a light at the end of the tunnel!  Jen  - welcome to the blog and good luck with your career at PwC. Ed - congrats on your first two weeks with Deloitte; keep us updated on how you are handling the work/life/study balance. Kunal - good luck and keep working hard!  I am taking REG on the 30th. This weekend and next week I am planning on getting through the rest of the REG material.  It may be tough, but I have to do it.  I have Board Meetings next week at work, which does not make…

  • First 2 wks of Work

    Edward Adiele
    13 Nov 2009 | 4:04 am
    Hello everyone, I have been very busy with new hire training at Deloitte, but I am back now. I heard that BEC came out last night....hmm I wish I took it as planned on the 29th, but thats ok. My fingers are crossed for AUDIT and REGULATION. Let me fill you all in on my training, it went well, and I enjoyed it. I was able to network very well, and I meet my fellow new hires in the same boat with me. I also meet a very nice young lady who keeps up with the NJSCPA exam cram blog, her name is FAITH, and she is also waiting for the last 2 parts of her CPA exam. (She has passed the first…
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    AccountingCoach.com Q&A

  • What is the meaning of sundry and sundry debtors?

    ACoach
    20 Nov 2009 | 5:03 am
    Sundry can mean various, miscellaneous, or diverse. Sundry debtors might refer to a company’s customers who rarely make purchases on credit and the amounts they purchase are not significant. I suspect that the term sundry was more common when bookkeeping was a manual task. In other words, prior to the low cost of computers and accounting [...]

  • If an accrual adjusting entry increases an expense and a liability, how does the balance sheet remain in balance?

    ACoach
    18 Nov 2009 | 2:41 am
    An expense is a temporary account which reduces owner’s equity or stockholders’ equity. The decrease in owner’s equity will offset the increase in the liability account. Learn more about the Accounting Equation. Related QuestionsAre utility bills an expense or a liability?If a mortgage payment is due by December 31, but the payment is not made until the [...]

  • What is the difference between liquidity and liquidation?

    ACoach
    16 Nov 2009 | 2:05 am
    Liquidity usually refers to a company’s ability to pay its bills when they become due. Liquidity is often evaluated by comparing a company’s current assets to its current liabilities. Working capital, the current ratio, and the quick ratio are referred to as liquidity ratios or short-term solvency ratios, since their calculations use some or all [...]

  • What is the meaning of pro rata?

    ACoach
    12 Nov 2009 | 11:18 am
    Pro rata is a Latin term that means in proportion. Pro rata is related to prorate, a term used in cost accounting. To illustrate the term pro rata, let’s assume that a company’s standard costing system has an unfavorable materials price variance of $400,000. If that amount is significant, the company will prorate the $400,000 to [...]

  • What is the difference between financial accounting and management accounting?

    ACoach
    11 Nov 2009 | 6:00 am
    Financial accounting has its focus on the financial statements which are distributed to stockholders, lenders, financial analysts, and others outside of the company. Courses in financial accounting cover the generally accepted accounting principles which must be followed when reporting the results of a corporation’s past transactions on its balance sheet, income statement, statement of cash [...]
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    CPA Success

  • What are the top six things on the minds of CPAs?

    Tom Hood
    20 Nov 2009 | 5:19 am
    We are almost to the end of our town hall / Professional Issues Update tour this fall, and here is what almost 1,500 MACPA members have said are the top six issues on their minds: Generations (and how to deal with four generations in the workplace) IFRS globalization XBRL Social networking as a tool for CPAs Transparency and trust Keeping up with change They also said they want us, their professional association, to stay focused on the following: Advocacy with regulators and legislators Protecting the CPA license Insuring the integrity of the CPA profession Continuing professional…

  • A billion and counting: Md. budget cuts mount

    Bill Sheridan
    19 Nov 2009 | 5:11 am
    Look on the bright side, Maryland. At least you're not California. Or Michigan. Or Arizona. A recent report from the Pew Center on the States found that those three states and seven others are in imminent danger of economic crisis, "raising the likelihood of higher taxes, more government layoffs and deep cuts in services," the Associated Press's Judy Lin reports. Maryland isn't on the list, and given the latest news out of Annapolis, that makes me wonder how the Pew Center on the States defines "crisis." For the third time in four months, Gov. Martin O'Malley has cut deeply in an effort to…

  • Five steps to choosing the right customers

    Tom Hood
    19 Nov 2009 | 5:06 am
    Your customers = your future. One of the hardest things for CPA firms and small businesses to do is target and carefully select customers. Add to this the current challenges of the recession and it gets even worse. Successful firms and organizations are taking time to develop "ideal customer profiles" and crafting a strategy to target and acquire them. Seth Godin is one of my favorite author/bloggers, especially in the area of marketing. He reinforces this in his post, Choose your customers, choose your future. As Seth says, "Marketers rarely think about choosing customers ... a sailor on…

  • Top 5 lessons learned from growth companies

    Tom Hood
    18 Nov 2009 | 8:53 am
    In this crazy environment, we are all looking for inspiration, validation and tips to make our organizations better. Earlier this week, we had an internal strategy meeting and one of our team members (Pam Device, or @pamelacdevine on Twitter) brought in an article from Financial Executives International titled "Common Threads of Startups for Driving Growth." I think this has some great tips and lessons to think about. Here are the five lessons learned from growth companies: Tailor your product to 1 million customers (that means systematizing your business processes). Lock in your customers…

  • Attention, tax pros: IRS issues new guidance

    Bill Sheridan
    17 Nov 2009 | 8:40 am
    In the "In Case You Missed It" department, the IRS has issued a few new pieces of technical guidance. They include: Notice 2009-89, which provides guidance on how manufacturers of qualified plug-in electric-drive motor vehicles can certify that the vehicles comply with § 30D of the Internal Revenue Code. Notice 2009-91, which explains that "for wages paid on or after Jan. 1, 2010, new rules will be used in determining the amount of income tax to be withheld from the wages of non-resident alien employees performing services within the United States." TD 9470, which includes final rules…
 
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    TSCPA Governmental Affairs

  • Speaker Straus issues interim committee charges

    Linda Messing
    20 Nov 2009 | 11:46 am
    Although the Texas Legislature only meets in odd-numbered years, state representatives have plenty to keep them busy in the interim. Not only are they running for re-election in the even-numbered years, but the committees on which they serve continue to work throughout the interim. Speaker Joe Straus (R-San Antonio) issued the interim committee charges (PDF) for House committees this week. When CPAs were trying to get improvements made to the franchise tax on margin during the recent legislative session, House Ways and Means chair Rene Oliveira said he believed the tax…

  • Implicatons of Hutchison’s descision not to resign until after the March primary

    Linda Messing
    16 Nov 2009 | 12:59 pm
    From Bob Owen: In an article I wrote for the Nov/Dec issue of Today’s CPA, I discussed Senator Hutchison’s impending resignation and how the timing would affect other aspiring office holders. If you just can’t wait to read my article, the Austin American-Statesman’s Jason Embry does a good job of examining the implications now that we know she is not resigning until after the March primary in his 'First Reading' column today.

  • Federal financial regulation reform is evidently more important than health care and climate change

    Linda Messing
    12 Nov 2009 | 9:13 am
    Speaking to Sen. Chris Dodd’s (D-Conn.) sweeping financial regulatory reform bill, Sen. Bob Corker (R-Tenn) said, “This is not like healthcare, and it’s not like climate change, We all want to see a really good bill pass.”  The implication obviously being that it is not important for a “really good bill” to pass for healthcare reform or climate change. I suspect this is one of those times when Corker would like to have that comment back. There is an interesting article in the online The Hill about Dodd’s bill and reactions to it. Be sure and…

  • Comptroller Offers New Margin Tax Rules

    Linda Messing
    11 Nov 2009 | 12:20 pm
    Comptroller of Public Accounts Susan Combs has published new proposed franchise tax rules in the Texas Register.  The public may submit comments on the rules to Bryant K. Lomax, Manager, Tax Policy DivisionTexas Comptroller of Public AccountsPO Box 13528Austin TX  78711 Comments should be submitted before Nov. 29, 2009. These proposed new rules include: A new definition of Federal Gross Income For returns due on or after Jan. 1, 2010 rental income that flows from a partnership is not considered passive income That passive income is only passive if it is income from an…

  • Yet more franchise tax reporting issues

    Linda Messing
    4 Nov 2009 | 9:22 am
    From the State Comptroller's site: Notice on Using Tax Preparation Software for 2008-2010 Franchise Tax Reports Legislative changes to the Texas franchise tax have prompted the need for revised franchise tax reporting forms to capture additional information and include new edits and calculations. If you use approved tax preparation software to complete your franchise tax reports, please note these important updates: Effective Jan. 1, 2010, the Texas Comptroller of Public Accounts will not be able to accept original franchise tax reports generated from tax preparation software approved for…
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    CPA Technology Blog

  • Microsoft Discontinues Office Accounting after 12/16/2009

    Brian Tankersley
    1 Nov 2009 | 2:52 pm
    I received this e-mail from Microsoft on Saturday: Dear Valued Microsoft® Office Accounting customer: We are writing to let you know that we will no longer distribute Microsoft Office Accounting after November 16, 2009. As a registered Office Accounting user,...

  • QuickBooks 2010 / Enterprise 10.0 Announced

    Brian Tankersley
    28 Sep 2009 | 9:23 am
    Intuit announced the release of QuickBooks 2010 today. Major new features include integrated document management, mass edit screens for list items, and integrated electronic check scanning/presentment (with Intuit Payment solutions). There are also some new options for selecting items on...

  • Intuit Releases R8 for QB 2009, QBES 9

    Brian Tankersley
    3 Aug 2009 | 8:10 pm
    Note: I received the attached notice from Intuit about R8 for QB2009 and QBES9, and thought I should reprint most of the Intuit notice about the included changes for you, the gentle reader. With the exception of the text in...

  • What’s New in Office 2010, MS Online, and Other Updates

    Brian Tankersley
    24 Jul 2009 | 7:19 am
    15 Items I noted which were interesting in the beta of Office 2010: 1. You can now customize the Ribbon. 2. The “meatball” (office button) is now a “chicklet”. (Bad for people with cheap mice, good for most of us...

  • News Roundup for July 22, 2009

    Brian Tankersley
    22 Jul 2009 | 8:21 am
    After a long absence, the CPA Tech Blog is back. It’s been a busy last three months, but there’s lots of good stuff to discuss. The Release Candidate of Windows 7 is out, and I really like it. I’ve been...
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    CPA Trendlines

  • New Year’s resolutions already? Start bracing now.

    rtelberg
    20 Nov 2009 | 2:03 am
    Scott Reardon says  watch out, more change coming next year. Here are his seven steps to preparing your organization for another bumpy year: Create a commitment to change. Engage the stakeholders. Visualize the changed future. Begin the transformation. Embed the new change into your culture. Create a sense of urgency. Continuously improve. Get the details at the Six Disciplines blog.

  • Downturn impacts 90% of small business

    rtelberg
    19 Nov 2009 | 12:00 pm
    New survey by the Credit Research Foundation shows business shifting focus from driving revenue to preserving cash flow. Details: 90% report that the economy has had a direct negative effect on their business, up from 77% in November 2008 44% report that they have shifted their focus on revenue and market share to cash flow and profitability, up [...]

  • Wanna find Freed Maxick CPAs on Twitter?

    rtelberg
    10 Nov 2009 | 2:20 pm
    Just look up… at the billboard. Rush-hour tax tips, anyone? Interested? Visit FreedMaxick.com. And on Twitter at http://twitter.com/FreedMaxickCPAs. In a nutshell, Freed Maxick is one of upstate New York’s largest public accounting firms and one of the nation’s 100 largest. They operate as an “alternative practice structure” with RSM McGladrey. Not shy about marketing, this is a digital [...]

  • SURVEY RESULTS: What’s hot in CPE?

    rtelberg
    10 Nov 2009 | 5:16 am
    We’ve been asking here. And your answers kind of look like this: Tax and IFRS appear to be at the top of most accountants’ CPE schedules this year. The survey, “What’s on Your CPE Agenda?  How CPAs Are Re-Tooling for Busy Season,” remains open. Join the survey here; get the answers. Or add a comment below. Meanwhile, here [...]

  • Accounting gains 3,800 jobs in October

    rtelberg
    6 Nov 2009 | 7:16 am
    … while U.S. unemployment hits 26-year high of 10.2%. The Accounting and Bookkeeping sector of the economy gained jobs at a seasonally adjusted rate of 3,800 in October, according to today’s Bureau of Labor Statistics report from the Department of Labor. October’s total employment in the sector came to a seasonally adjusted 937,700, according to the BLS, [...]
 
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    The Big Four Blog

  • Deloitte Finds 2009 Holiday Shoppers Will Use A Lot More Social Media

    www.Big4.com
    16 Nov 2009 | 1:02 pm
    Deloitte’s recently published 24th Annual Holiday Survey of retail spending and trends vindicates what you are likely seeing all around you. Consumers are expected to increasingly use social media for their holiday shopping this year. Deloitte finds 17% of consumers plan to use social media in their holiday shopping, and among those, 60% plan to use it to find discounts, coupons and sale information. 53% plan to use social media to research gift ideas and 52% plan to check the gift wish lists of friends and family.In terms of user demographics, 52% are 18-29 years old, 33% are 30-44 years…

  • A Wake-up Call For America

    www.Big4.com
    16 Nov 2009 | 10:48 am
    We saw this on the Grant Thornton home page, and the title was so tantalizing, it was too good not to dig in and blog about it.This recently released study by David Weild and Edward Kim indicates that a sharp fall in US publicly listed companies is generally driving a depression in US stock markets and further, that it has inhibited economic recovery, impaired the job market and undermined U.S.competitiveness. The deep underlying cause for this – severe changes to the market structure over the last twenty years. The effects are well known, and we read the authors’ 44 page report to see if…

  • Checkout Our “The Best Of “Twitter Lists – Love Your DM or RT

    www.Big4.com
    9 Nov 2009 | 2:54 pm
    Twitter just released its latest exciting functionality - Twitter Lists, and we think it’s awesome and very timely.It allows us to curate who we think are the most appropriate Tweeters to follow in our niche space of The Big Four Firms, accounting, finance, tax, jobs and related topics.We have already created some list, which we are calling “The Best Of”. We rather like this name, but we’ll evolve as lists get more ingrained, and may change. For example after our search, all the Twitterers we think are most relevant to follow for Deloitte happenings in the Twitter universe, we have…

  • Top Companies in Deloitte’s 2009 Tech Fast 500 Sport Phenomenal Sales Growth

    www.Big4.com
    7 Nov 2009 | 11:30 am
    Recently, Deloitte released its 2009 Technology Fast 500 Rankings, an annual ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The criterion – grow the fastest in revenue over five years. And the number 1 winner - ReachLocal, a privately-held global provider of localized Internet advertising solutions based in Woodland Hills, CA, with revenue of $147 million and a 5-year fiscal growth rate of (get this!) 146,050% percent. In 2004, ReachLocal’s revenues were just $100,000 and in 2008, its revenues had…

  • Huron Consulting Group Q3-2009 Operations Strong, Shares Zoom

    www.Big4.com
    5 Nov 2009 | 5:22 pm
    Huron Consulting Group Inc. (NASDAQ: HURN) just reported its Q3-2009 results, with revenues of $172.2 million increasing 2.1% from $168.7 million in Q3-2008 and up sequentially from $165.8 million in Q2-2009. However, more importantly, Huron took a $106.0 million non-cash pretax goodwill impairment charge, about 20% of the total goodwill balance of $506.5 million as of June 30, 2009. In addition, there were restructuring and restatement charges of $15.1 million. The GAAP loss per share including the aforementioned charges was $(3.16) in Q3-2009 compared to diluted earnings per share of $0.12…
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    Success starts here

  • The Great Employment Challenge of 2009

    Ben
    19 Nov 2009 | 1:00 pm
    This past year has been like few others in recent memory for firms in our industry, professional accountants and accounting students alike. The recession has had a considerable effect on our industry, which has ultimately resulted in many more job seekers than jobs, both at the experienced and college levels.One of the responsibilities that I have is to monitor and respond to inquiries that we get by phone, by email, and our social media channels (our Facebook page primarily). On an almost daily basis, we have been hearing from people asking about what they need to do or who they need to…

  • Podcasts: Hear from 3 McGladrey New Associate Hires

    Ben
    17 Nov 2009 | 8:41 am
    Every fall, hundreds of recent college graduates join McGladrey as new Associates. What factors made them decide to join McGladrey? What are their expectations as they start their new roles? Here is your opportunity to hear directly from three of our new associates as they describe their experience joining the firm. Click the links below to listen!Nathan B - Audit Associate from Elkhart, Ind.Kelly G. - Tax Associate from Boston, Mass.Zach C. - Consulting Associate from Des Moines, Iowa

  • My Shawshank Redemption - A Screenplay: Part 2

    Rachel
    13 Nov 2009 | 8:23 am
    Last week, I kicked off a series of posts (in screenplay form) on my experiences preparing for and taking the CPA Exam. What I thought was going to be a slam-dunk has turned into something much more challenging and unexpected. Could things get worse? Lets' find out as we continue with...My Shawshank Redemption - A ScreenplayScene ThreeSetting: Library, end of October; late evening; dim light from reading lamp; quiet and empty.Music: Faint, indistinguishable, dark classical – think Beethoven’s Moonlight Sonata.Opening Scene: Rachel (pale, hair tucked under cap, vacant stare, head resting…

  • McGladrey Offices Across the US Win Sloan Flexibility Awards

    Ben
    10 Nov 2009 | 6:54 am
    It's always an honor to win even just one award for our workforce flexibility programs. It's even better when you win more than 30! That's right, 33 McGladrey Office Locations recently were honored with the Alfred B. Sloan Award for Business Excellence in Workplace Flexibility. In addition, McGladrey was also honored with the “Working Family Support Award” for our monthly WorkLife webinars. Individual McGladrey offices had the option of applying for the Sloan Award, and the winners included:Bloomington,MN; Cedar Rapids, IA; Champaign, IL; Chicago, IL (both locations); Cleveland, OH;…

  • My Shawshank Redemption - A Screenplay: Part 1

    Rachel
    6 Nov 2009 | 11:48 am
    Hello, it’s Rachel again. Since the last time I was here I received my bachelor’s degree and am now working on my master’s and studying for the CPA Exam. It’s been an adventure juggling my studies and my life, and over the course of the next few weeks I’ll be sharing my experiences with you…in screenplay form….”My Shawshank Redemption”…whether by design or by fate, my Shawshank is grad school… (fade to black)….”My Shawshank Redemption”Scene OneSetting: bright, sunny day on ASU (Appalachian State Univ.) campus in late summer glory (green grass, beautiful flowers…
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    Navigator Project Finance Blog

  • fimodo - a solid gold financial modelling resource!

    Nick Crawley
    16 Nov 2009 | 8:14 pm
     There are several financial modelling forums available on the web but there have been none that I have felt with the quality and focus required for Navigator to formally publisice our services on or upon which to share my views on an ongoing meanginful basis. I am pleased to say this has changed, since August I have been a member of the financial modelling domain, fimodo.com which carries the straight forward strap line “financial modelling experts sharing their knowledge’. What is fimodo? Fimodo is unique in the way it is run, members submit quality financial modelling…

  • A matter of “principal”.

    Nick Crawley
    15 Nov 2009 | 12:02 am
    Having spent the majority of my professional life involved in the modelling and analysis of project finance transactions it is fair to say that I have spent, more time than most, thinking about and calculating the repayment of debt. This time has also been spent looking at how the calculations can be simplified, made more thorough, easier to understand, more flexible and adaptable for when a transaction progresses. Lets break it down Debt can be the most complicated part of a project finance model, often unnecessarily. When explaining debt repayment I distill it to its core elements: The…

  • Calling all African PF’ers - I am in Lagos until 3/11/09.

    Nick Crawley
    26 Oct 2009 | 2:25 am
    I rarely write about my trips, often due to confidentiality or lack of time, however I am currently en route to Lagos, Nigeria and I thought this would be an interesting insight into those of you interested in the way we operate at Navigator. Why go from Sydney to Lagos? Lagos, the capital of Nigeria, is a city of around 8-18m people (depending on who you believe), forecast to be ~40M within 8 years and by then the world’s third largest city. With this in mind it is not surprising that the project finance world is booming in this region of sub-saharan Africa. Infrastructure projects…

  • Mineral Asset Reporting and Valuation.

    Nick Crawley
    24 Sep 2009 | 10:02 pm
    I was asked to present a financiers perspective of the mining valuation process at the Mineral Asset Reporting and Valuation conference organised by the Australian Institute of Geoscientists in Perth on Monday the 19th of October. The AIG is a not run to make a significant financial gain and so all parties are contributing their time voluntarily. I fully support the work performed by Jonathan Bell at Alexander Research and would love to have been at the event but my timetable keeps me in Sydney on that date (or in Tehran, as yet unsure!). The event is focussed on the themes: Reporting and…

  • Attack of the Mac!

    Nick Crawley
    23 Sep 2009 | 4:33 am
    Modelling issue on a Mac (again) There are plenty of people looking at the pro’s and con’s of modelling on an Apple Mac at the moment so I won’t write a thesis on the matter but thought I would share with you a question that was aked of me earlier today.  Over the years I have seen many people try to use  a Mac for modelling, on training courses, project developers using their home pc when travelling. I should be up front, regular readers know I am, ironically, not a fan of Excel (especially 2007) but using a Mac is not a great alternative for professional financial…
 
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  • Prologue to my Interview with Ric Franzi Author and Radio Show Host - But Take Note - This Part is all About Me.

    Stacie Clifford Kitts
    20 Nov 2009 | 10:04 am
    By Stacie Clifford Kitts, CPAA couple of weeks back you might remember that I bravely agreed to be a guest on Critical Mass the radio show on OCTalkRadio.net . I say bravely because if you know me well, you know that I am not a public person.Yah yah - I am building an internet presence. And I regularly post to my blogs. But I do all that while sitting safely behind a desk in my quiet little office. But to put myself out there - you know to venture outside my "safe space" to be in a public arena - to be on "stage" - 'tremble' - not exactly something that I am comfortable doing.You see, I was…

  • Guidance - Nonresident Alien Employees New Rules in Determining Income Tax Witholding

    Stacie Clifford Kitts
    18 Nov 2009 | 7:28 am
    Notice 2009-91 provides guidance to employers paying wages to nonresident alien employees for services performed within the United States. The notice indicates that effective for wages paid on or after January 1, 2010, new rules will be used in determining the amount of income tax to be withheld from the wages of nonresident alien employees performing services within the United States. These new rules will be set forth in the new revision of Publication 15 (Circular E), Employer’s Tax Guide, and other IRS publications.Notice 2009-91 will appear in IRB 2009-48, dated Nov. 30, 2009.

  • Guidance - Taxpayers May Rely on Manufacturer's Certification Qualified Plug-in Electric Vehicle

    Stacie Clifford Kitts
    17 Nov 2009 | 7:44 am
    Notice 2009-89 sets forth a process that allows manufacturers to certify to the Internal Revenue Service that a particular vehicle meets the requirements of § 30D of the Internal Revenue Code. Taxpayers purchasing such vehicles can rely on the domestic manufacturer’s (or, in the case of a foreign manufacturer, its domestic distributor’s) certification that both a particular make, model, and model year of vehicle qualifies as a plug-in electric drive motor vehicle under § 30D, and the amount of the credit allowable with respect to the vehicle. The notice also defines when the amended §…

  • A Small Town and A Diabolical Marketing Strategy that Sucked Me in.

    Stacie Clifford Kitts
    16 Nov 2009 | 1:37 am
    By Stacie Clifford Kitts, CPA Well, here is an epiphany - small town 'don't' mean stupid…Not that I actually thought that small towns harbored unintelligent people. It's just that sometimes a small town feels so sweet and quaint it's easy to assume that everyone in it must be sweet and quaint too.You must know what I mean - picture the historical buildings, the lace curtains and the wooden board walks - all of which give off an air of - well - unsophisticated, honest, hardworking, townsfolk. Now as it happens, there are many such towns along US highway 395 just south of Lake Tahoe as you…

  • The IRS Explains: Seven Facts about the Nonbusiness Energy Property Credit

    Stacie Clifford Kitts
    13 Nov 2009 | 7:10 am
    Taxpayers who take energy saving steps this year may get bigger tax savings next year. The Nonbusiness Energy Property Credit, a tax credit for making energy efficient improvements to homes has been increased as part of the American Recovery and Reinvestment Act of 2009.Here are seven things the IRS wants you to know about the Nonbusiness Energy Property Credit:The new law increases the credit rate to 30 percent of the cost of all qualifying improvements and raises the maximum credit limit to $1,500 claimed for 2009 and 2010 combined.The credit applies to improvements such as adding…
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