Accounting Helper Blog

Dear AccountingHelper.org Readers,

Welcome to the Accounting Newsletter (4/30/2009). In this edition we have included news, articles and videos. You can find more resources on our website: AccountingHelper.org.

Accounting News

Commissioners agree on auditor
Despite worldwide economic troubles, Johnson County remains financially strong, said Tom Masters, a partner with Kennemer, Masters & Lunsford, an independent company hired to audit the county. Mem… (More)

N.S. auditor says government lax in truck safety enforcement
Michael Tutton, THE CANADIAN PRESS HALIFAX, N.S. - Nova Scotia highways aren’t being properly protected from truck drivers who may be overtired or driving vehicles with mechanical problems, the provin… (More)

Bain ‘zoned out’, friend tells court
A witness, who has permanent name suppression, gives evidence yesterday. Two female friends of David Bain yesterday described how they heard him wailing in anguish during a walk along St Clair Beach two days after five of his family were shot dead. (More)

CPA Exam Myths: Blogger has Questions, Gets Answers
Blogger Jeff Elliott at another71 put a few questions to the AICPA and got some answers. Questions like… Is the exam graded on a  curve? Why can’t test-takers get their scores at the test center immediately? Can I apply for a re-score? Why are some scores released fast than others? Get all the answers at another71.com addthis_url [...] (More)

Venture capital industry down but innovation continues
When venture capital industry data recently showed first-quarter investments plummeting to a 12-year low, there was a breathless, falling-off-a-cliff tone to some media coverage. (More)

12 Questions to Test Your Competitive Fact-Finding Skills
How good are you at obtaining competitive intelligence and applying it to business development? By Howard Wolosky “An Educated Consumer Is Our Best Customer®” is how an off-price clothing retailer positions itself. Although not similarly copyrighted, as of late, I have come across a number of other businesses that live by that slogan with a single word change, “An [...] (More)

BDO Partner Charged with Tax Crimes
A federal grand jury has returned an indictment charging a BDO Seidman partner with tax charges for attempting to help one of his clients evade income taxes. (More)

Accounting Articles

Tips For Forensic Accounting
Forensic accountants are specially trained to apply the knowledge in auditing, accounting and finance as well as utilizing the investigative skills to uncover the truth in illegal financial activities, assist in investigating potential crimes and form legal opinions. Here are some tips and advice on forensic accounting for those who are interested to get involved. (More)

Small business bookkeeping Simplified
Small business bookkeeping could be one of the tasks most generally avoided today in industry. The majority of entrepreneurs begin their small… (More)

The Rules of Company Formation: How to Start Your Own Business
If you are planning to start you own business enterprise in the UK, you must be well conversant to he rules and regulations that are followed in this country. Whether it is a proprietorship, partn… (More)

This newsletter is provided by AccountingHelper.org.

Dear AccountingHelper.org Readers,

Welcome to the Accounting Newsletter (4/24/2009). In this edition we have included news, articles and videos. You can find more resources on our website: AccountingHelper.org.

Accounting News

Auditors descend on library
City auditors arrived at the Lexington Public Library on Thursday to secure records and begin a broad examination of its finances, catching library officials by surprise.In a statement released Thursd… (More)

Obama Targets Foreign Tax Havens
Should we take it seriously this time? Annette Nellen, CPA/Esq., in this week’s AICPA Corporate Tax Insider, reports President Obama’s budget proposal has many wondering what a “robust portfolio of IRS international tax compliance initiatives” means for international tax reform. She says: Tax haven concerns date back over 50 years and discussions of modernizing US international tax rules [...] (More)

Anger at U.S. Banking System High, Credit Expected to Remain Tight: AICPA Poll
Sign of Increasing Optimism Brightens Gloom as Americans Gauge Outlook for U.S. Recovery via AICPA Even as many Americans hold a pessimistic view of the U.S. economy, there is a sign of rising optimism suggesting some may be seeing prospects for an end to the recession, according to a recent survey commissioned by the American Institute of [...] (More)

Tesla Motors Uses MathWorks Tools for Model-Based Design to Develop…
Tesla Motors Uses MathWorks Tools for Model-Based Design to Develop World’s First Electric Production Sports CarTesla Motors Uses MathWorks Tools for Model-Based Design to Develop World’s First Electric Production Sports Car DETROIT, BUSINESS WIRE — The MathWorks today announced that Silicon Valley electric vehicle maker Tesla Motors employed … (More)

Tax Season ‘09: CPAs Dodge a Bullet
Economy impacts end-of-season parties. Are job cuts next? Join the survey; get the answers. By Rick Telberg CPAs closed out Tax Season 2009 last week feeling dazed, confused, weary and maybe even a little bit lucky. Despite a dismal and dismaying economy, most tax practices were apparently bucking the recessionary downdrafts and mostly holding their own or even [...] (More)

Accounting Videos

Accounting Software Choices

QuickBooks Online Plus, QuickBooks Pro, Office Accounting Professional, Peachtree, or Dynamics GP Which do you want to learn?

Accounting Articles

Business Credit Control
Credit control is an essential piece of business management that all to often gets left until its desperately required and the company is facing difficulties. Avoid the problems by following these top 5 credit control tips. (More)

Using Accounting Software to Manage Delinquent Payments
Tracking non-paying customers can be an administrative nightmare that wastes valuable time and money. Having an accounting software package to manage your accounts receivable can automate the process and free up your time for value-added activities. (More)

Cash Flow Statement ? A Management Tool
The statement of cash flows is one of the main financial statements. The balance sheet, income statement, and cash flow statement are three generally accepted financial statements used by most busines… (More)

This newsletter is provided by AccountingHelper.org.

Dear AccountingHelper.org Readers,

Welcome to the Accounting Newsletter (4/17/2009). In this edition we have included news, articles and videos. You can find more resources on our website: AccountingHelper.org.

Accounting News

Improper Use of ITINs Generates Billions in Questionable Refunds
Billions of dollars in tax credits are being provided to Individual Taxpayer Identification Number filers without adequate verification of eligibility, according to the Treasury Inspector General for … (More)

NUS, NTU get $3.5m donation from late accountant
NUS and NTU have received a combined gift of $3.5 million from the Estate of the late Mr Foo Hee Lim. This donation will provide financial assistance to academically strong but financially needy NTU s… (More)

Behind a merger: Two small firms pair up
From the Detroit News: Dennis Frank and Stanley Freedman began their merger talks with Daniel Hirsch and Steven Subelsky last year. The four quickly agreed that together their combined business experience would be monumental. But their relatively small size would allow them to keep in touch with clients like no monster firm could. Today Frank, Hirsch, [...] (More)

New SEC chief Schapiro in first TV interview: Rating the ratings agencies
“I think the SEC can do the job.” Earlier today, SEC Chairman Mary Schapiro sat down with PBS’ Nightly Business Report and gave her first televised interview since taking over the reins of the SEC two months ago.  Below is the complete transcript. STEPHANIE DHUE, CORRESPONDENT, NIGHTLY BUSINESS REPORT:  You told credit rating agencies the status [...] (More)

Is Your Job Safe after Tax Season?
Economy impacts end-of-season parties. Are job cuts next? Join the survey; get the answers. By Rick Telberg The economy is clearly cutting into the profession’s traditional post-busy-season celebrations. Accountants have never been known for their wild parties. But this year, firm-sponsored get-togethers are decidedly low-key and individual celebrations seem much more toned down. To be sure, some firms [...] (More)

How Obamas earned 2.73 million dollars in 2008, and what they spent it on
New York, Apr 16 : President Barack Obama and his wife Michelle Obama earned 2.73 million dollars in income in 2008, according to their tax statements. (More)

Accounting Articles

Implementing XBRL In-house - Different Strokes For Different Folks - Part 2
XBRL (eXtensible Business Reporting Language) is an advanced platform for creating and delivering financial reports that provide transparency, among other benefits. This article looks at the requirements for implementing XBRL reporting for Regulators or other organizations involved in data collection and consolidation. It helps clarify how XBRL software vendors have positioned their off-the-shelf products for businesses to implement in-house. The author provides a road-map for a successful implementation. (More)

Book Keeping Help is the Most Important Aspect of Accounting
The year end is at the corner and the financial assets need to be revealed. Moreover, a lot of calculation and ground work needs to be done for the better organisation of the accounts. But everything stands in the mess! What to do next? Here comes the time to go for book keeping help and within no time, no matter how sorry the entire situation is, the ending will be impressive and all your accounts will be in the best possible manner. Be it New York or Chicago, the book keeping help has emerged as a form of fundamental and important branch of account keeping in all the small to big scale companies. (More)

Best in Class BPO-KPO Solutions from KPIT Cummins
The paradigm shift in the business process outsourcing industry has seen it moving away from being a mere cost cutting arrangement towards a more strategy-driven functional partnership. As margins are… (More)

Real Estate Accounting - Manage the Finance in Real Estate Efficiently
If there were any pessimists in the real estate markets, they are being proven wrong. As the prices continued to mount on in the recent years, these pessimists forecasted an explosion and tumbling of … (More)

This newsletter is provided by AccountingHelper.org.

Dear AccountingHelper.org Readers,

Welcome to the Accounting Newsletter (4/12/2009). In this edition we have included news, articles and videos. You can find more resources on our website: AccountingHelper.org.

Accounting News

Accountants now make the calls at BT
For a short time, when Sir Christopher Bland, chairman, and his chief executive Ben Verwaayen were at the helm of BT, the City believed the once government-owned telecom giant had turned a corner. Aft… (More)

Economic fallout: Local sales taxes hit new records
Tax software developer Vertex reports that 554 U.S. cities changed their sales tax rates in 2008. Of those, 200 were newly imposed city tax rates and 307 were straight increases to existing city tax rates. Other changes in sales, transit and use taxes, combined with new and pending changes for 2009, indicate that state and [...] (More)

State income tax refund payments delayed
Some Missouri residents who have filed their state income taxes have been told they’re not getting their money back until the end of April, but it could be much longer. (More)

Obama team’s tax problems: So who’s perfect?
And what are the lessons for CPAs? “These problems raise the question as to whether return preparers are asking the right questions and seeking sufficient documentation,” according to Prof. Annette Nellen in this week’s AICPA Tax Insider. Nellen groups the tax errors into five main categories: Overlooked income, such as due to a missing 1099 or income not [...] (More)

How to close “the knowing-doing gap?” Just do it. Do it now.
The problem is not a lack of theories, tools, or programs. The problem is EXECUTION. In research for his recent book, Execution Revolution, author Gary Harpst discovered: An astounding 90% of well-formulated strategies fail due to poor execution! Only 5% of employees understand their corporate strategy! Unbelievable! Only 3% of executives think their company is very successful at executing [...] (More)

Accounting Articles

Real Estate Accounting - Manage the Finance in Real Estate Efficiently
If there were any pessimists in the real estate markets, they are being proven wrong. As the prices continued to mount on in the recent years, these pessimists forecasted an explosion and tumbling of … (More)

Cash Flow Analysis
Firstly, we should analyse the structure of cash flow statement. The cash flow can be classified into: operating cash flow, investing cash flow and financing cash flow. The direct and indirect method of cash flow from operating activities can be used to prepare the cash flow statement. (More)

Accounting Basics: What Is Income Statement?
While learning accounting basic, you can find that income statement is defined as a report that provides accounting information about a business to shareholders, government entities, and o… (More)

Introduction of Accounting Services and Why it Require For Small Business
In today’s business world accounting and bookkeeping is a big business need. Having accurate financial accounting can help successful running of your business. (More)

This newsletter is provided by AccountingHelper.org.

Dear AccountingHelper.org Readers,

Welcome to the Accounting Newsletter (4/6/2009). In this edition we have included news, articles and videos. You can find more resources on our website: AccountingHelper.org.

Accounting News

Tax return stimulus rush
ACCOUNTANTS have been swamped with tax returns from people seeking to claim the $900 stimulus payment. (More)

IRIS Accountancy Practice Solutions Delivers Biggest Ever Product
- New Releases of all IRIS Accountancy Products Include: Drummohr, PTP & IRIS Practice Suite - 44% of all UK Accountancy Practices*, Receive Their new Release in Time for new Tax Year, and are Ass… (More)

Is the IRS giving a free pass to finance institutions?
Financial service firms — banks, investment advisors, insurance companies, etc. — account for three-quarters of the tax returns filed by all large corporations. So why, then, is the IRS allocating only 15% of its corporate revenue agents to the sector? Especially considering that when audits are performed, the IRS reaps outsized gains? The apparently lopsided distribution [...] (More)

Liberty Tax Service Discloses a 9.3% Stake in Jackson Hewitt Tax Service in 13D Filings
JTH Tax, Inc., announced today that the company has filed a Schedule 13D with the Securities and Exchange Commission indicating that it has obtained a 9.3% stake in Jackson Hewitt Tax Service, Inc. (More)

A pension offer that you can refuse
Investors who still have pension money locked up with a former employer could soon find themselves being offered an incentive to leave their schemes for good. (More)

CPA credits Facebook, Twitter for Wall Street Journal front page play
Professional services firms of all stripes are working to kill the billable hour and move to flat-rate pricing. Wall Street Journal quotes CPA Dan Morris from Verasage on value billing: Companies — many of them smaller businesses that saw big growth in recent years thanks to generous corporate spending — are finding themselves suddenly squeezed in [...] (More)

Accounting Videos

Accounting Basics 3- Assets

Financial Accounting ACG2021 Spring 2008 Chapter 1 Crosson

Accounting Articles

Staying Competitive With Business Financial Software
An excellent article for companies and business owners interested in Business Financial Software. Also useful for those interested in Management Accounting and Payroll Accounting. (More)

Cash Flow Analysis
Firstly, we should analyse the structure of cash flow statement. The cash flow can be classified into: operating cash flow, investing cash flow and financing cash flow. The direct and indirect method of cash flow from operating activities can be used to prepare the cash flow statement. (More)

Vital Information About Bookkeeping Services
Efficient accounting services are absolutely essential for maintaining the records of a company. A bookkeeper will update the records and keep a track of all the monetary transactions. A lot of time and money is saved if one opts to outsource bookkeeping services. A number of outsourcing companies offer online bookkeeping services and the overseas clients are greatly benefited as the service is offered at a low cost. This is a time-saving process and if the companies outsource the services, they will find that the expenses are lower than usual. (More)

How Can a New Startup Device an Effective Accounting Plan
Normally, the small and or newly established businesses face problems regarding their tax, accounts and financial management systems. These problems may also create threats of profit loss and high cos… (More)

This newsletter is provided by AccountingHelper.org.

Dear AccountingHelper.org Readers,

Welcome to the Accounting Newsletter (4/3/2009). In this edition we have included news, articles and videos. You can find more resources on our website: AccountingHelper.org.

Accounting News

Monterey Gourmet Foods Appoints McGladrey & Pullen as Independent Public Accounting Firm
Monterey Gourmet Foods , a manufacturer and marketer of fresh gourmet refrigerated food products, announced the board of directors of the company accepted the recommendation of its Audit Committee to change its independent registered public accounting firm from BDO Seidman LLP to McGladrey & Pullen LLP, effective March 30, 2009. (More)

Under New Accounting Rule, Toxic Assets May Be Revalued
The board that sets U.S. accounting rules voted yesterday to let financial firms report higher values for some troubled assets, a controversial step likely to increase some banks’ reported earnings bu… (More)

US accounting standards relaxed to help banks out of crisis
US accounting standards were relaxed Thursday to allow banks to take a longer-term view on the value of toxic mortgage assets, which have already cost the industry more than $1 trillion and lie at the heart of the financial crisis. (More)

US stocks rally on G20 deal, changes in accounting rules
US and global stocks surged Thursday as a summit of the world’s major industrial and emerging powers agreed on a more than $1-trillion aid package to help revive the global economy. (More)

Why Your Clients Need Your Optimism
As many busy season clients - individual and corporate alike - get hammered by a crashing economy and uncertain business conditions, CPAs are doing their best to help. by Rick Telberg “Clients are overwhelmed by the current state of the economy, imploding asset values and credit issues,” according to Daniel J. Domancich, a CPA and CFP in [...] (More)

11 Questions to Ask BEFORE Buying into an Accounting Practice
Whether you’re looking to grow your own practice or take a stake as a partner in the practice where you already work, a few key questions need to be asked, answered and considered. And, as this list from a U.K. consultant proves, the basic economics of an accounting practice are well nigh universal. So, whether you’re buying [...] (More)

Accounting Articles

2 Reasons CEOs Have to Care About Revenue Recognition
Every Entrepreneur, Business Owner, Founder, and CEO has to care about revenue recognition for two reasons. First, the accuracy of your financial statements is wholly correlated to your compliance with revenue recognition. Second, your ability to gain and maintain external debt and equity financing increase dramatically.. (More)

Accounting Outsourcing - Cost-Effective Means of Handling Accounting Tasks
Outsourcing primarily means the handing over of some part of a business to a third party. In this arrangement, it is the third party which handles the day-to-day working of the process in question. The recent trends in business have positively favored the business of outsourcing. Companies have outsourced their major processes to BPO’s or Business Processing Outsourcing, to decrease their area of immediate concern, so that they can divert all their attention to core issues. Accounting outsourcing is one such form of outsourcing. (More)

Bookkeeping is not only for Business
The term bookkeeping is enough to send people running for cover. Why is it that, of all the business tasks to perform, this one is the most popular when it comes to procrastination? We all know the … (More)

Accounting Basic: Understanding the General Ledger
The general ledger contains an entry for every transaction ever made with a business. The general ledger?s first entry should be the one of the business?s transaction, and it should be updated as ofte… (More)

This newsletter is provided by AccountingHelper.org.

Dear AccountingHelper.org Readers,

Welcome to the Accounting Newsletter (4/1/2009). In this edition we have included news, articles and videos. You can find more resources on our website: AccountingHelper.org.

Accounting News

Sarkozy threatens G20 walkout over accounting standards
Sarkozy threatens G20 walkout over accounting standards French president wants new international accounting standards framework, or no agreement can be reached (More)

NEW SURVEY RESULTS: Smartphones - Perks or Power Tools?
The votes are coming in: CPA firms are powering up their competitive profiles with full-featured mobile phones that can do it all. Smartphones are proving to be a key ingredient for CPA success in today’s mobile world. But how do you manage the technology for maximum productivity and competitive advantage? The initial responses are flowing in to [...] (More)

Moss Adams, Demeter launch benchmark effort; seek 1,000 surveys
An accounting firm and an investment bank are starting what they hope will be a biennial benchmark of vintner and grower finances and operations in the Pacific Northwest. (More)

11 Questions to Ask BEFORE Buying into an Accounting Practice
Whether you’re looking to grow your own practice or take a stake as a partner in the practice where you already work, a few key questions need to be asked, answered and considered. And, as this list from a U.K. consultant proves, the basic economics of an accounting practice are well nigh universal. So, whether you’re buying [...] (More)

NEW SURVEY LAUNCHED: How Accounting Firms Leverage Mobile Productivity
Smartphones are proving to be a key ingredient for CPA success in today’s mobile world. But how do you manage the technology for maximum productivity and competitive advantage? We expect to get the answers in our new research project, “Accounting Firm Mobile Phone Policies and Productivity.” Click here to start the survey now. As always, participants will [...] (More)

Accounting Videos

Accounting Transactions 2- Accounting Cycle

Financial Accounting ACG2021 SFCC Spring 2008 Crosson Chapter 2

Accounting Articles

Bookkeeping and Accounting - Why Outsource Your Bookkeeping and Accounting?
Why would a small business outsource their bookkeeping and accounting services to an outside bookkeeper? Most small businesses fail in the first year and it is due to poor financial management. (More)

What You Need to Know About Business Accounting
Businesses are an important economic pipeline for the United States just as they are in other countries. The way a business tracks their finances and reports their profits effects the way the economy grows or shrinks because the money that a business makes is circulated through all walks of life. Companies like Enron, WorldCom, Freddie Mac and others who make bad business accounting decisions shake the economy at its foundation and destroy the lives of investors who help to make our economy whole. It is a way for firms to estimate for profits and losses they have sustained. (More)

Are Your Books Fit?
Accurate books are the lifeline of any successful small business. They help keep track of monies, control costs, and help in better financial decisions. For example, a business that tracks income and expenses clearly in a detailed manner will have know the major expense heads and key revenue streams. (More)

Accounting Outsourcing Service -Plays a Crucial Role in the Management of Business Processes
The accounting outsourcing service plays a very important role in the business environment and economic domains of today?s competitive world. No doubt, the enormous manner in which the hunger for name… (More)

This newsletter is provided by AccountingHelper.org.