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July 22, 2010    
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Publisher's Note
Rob Nance, PublisherEveryone in the accounting profession readily admits there are at least a few major differences between small accounting firms and the Big 4. Going Concern.com recently reported on five of them. One of these differences salary is definitely a hot topic in the accounting field right now. To get an update on compensation matters, check out the Accountants International 2010 Compensation, Benefits, and Workplace Trends Guide.

Rob Nance
Publisher
publisher@accountingweb.com
Top News
The recently signed financial reform act and how it might affect you
Capitol building President Barack Obama signed into law on Wednesday the Restoring American Financial Stability Act of 2010 (RAFS). The bill was signed despite lingering questions surrounding many of the legislation's details.
Is a college education worth the money?
Rising tuition and an uncertain economy could be casting doubts over the value of investing in a college education.
BNA Tax & Accounting launches quick tax reference application for BlackBerry
BNA Tax & Accounting has launched its first application for the BlackBerry with the creation of BNA Quick Tax Reference an electronic version of its Quick Tax Reference Guide, which is made available annually in print to tax practitioners.
Take Checkpoint for a Test Drive Today
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   Take Checkpoint for a test drive today. Call 800.950.1216 or visit http://ria.thomsonreuters.com/trycheckpoint to start your complimentary 30 day trial today.
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Featured Articles
Promoting your business using Facebook
Facebook favicon Many businesses use Facebook purely as an opportunity to post link upon link. But to work as an effective business tool, online activity needs to take place as part of a dialogue, not a one-way broadcast.
Networking is making your own luck
Networking is not about finding somebody who is going to take time and interest to promote your career. That's a friend or a mentor, but they are few and far between. Networking is about serendipity: making your own luck.
A foot in the door: Identifying myths, realities behind temporary work
Temporary work remains a bright spot in the current job market, but many people might think that project assignments aren't available in their industry or at their experience level.
Try Drake Software's Free Fully Functional Evaluation Software Now and SAVE $300 When You Buy Before July 31, 2010
Drake Software Drake Software offers an award-winning package including tax software, practice management, conversion, client write-up, business development, research, and more! There's no cost to explore what you might be missing in your current software. Free Evaluation Software - Free fully functional program in this download or call 800-890-9500 and mention AccountingWEB. See Drake Software in action!
Watch our Drake Software Webinar now.
Firm/State/People News
Financial Accounting Foundation names Schroeder to lead review of accounting standards
Mark Schroeder The Financial Accounting Foundation has announced that Mark Schroeder, a recently retired senior partner at Deloitte & Touche LLP, has been named post-implementation review leader.
KPMG expands capabilities by acquiring Grant Thornton's supply chain advisory services practice
KPMG LLP, the U.S. audit, tax, and advisory firm, this week announced it has expanded its restructuring capabilities through acquisition of the Supply Chain Advisory Services practice of Grant Thornton LLP.
McGladrey acquires Caturano and Company
RSM McGladrey, Inc. and McGladrey & Pullen, LLP, a leading provider of assurance, tax, and consulting services, this week announced the acquisition of Caturano and Company, Inc., a New England-based full-service accounting, auditing, tax, and business advisory firm.
Blogs!
What do you have to say today?
Direct Marketing Association Challenges Colorado Sales Tax Law
The Direct Marketing Association has filed a lawsuit against Colorado's Internet sales tax law. The DMA suit asserts that the law and regulations violate both the U.S. Constitution and the Colorado Constitution.
FASB Releases Proposal on Disclosure of Certain Loss Contingencies
The FASB released its Exposure Draft of a proposed Accounting Standards Update, Contingencies (Topic 450): Disclosure of Certain Loss Contingencies. The 30-day comment period ends August 20, 2010.
Top Reasons to Convert to a Roth IRA
Taxpayers who have had adjusted gross income above $100,000 were precluded from converting a traditional IRA to a Roth IRA. However, beginning with the 2010 tax year, this limitation will be lifted, thereby giving many more taxpayers the opportunity to convert to a Roth IRA. Should your client convert?
Do We Have to Audit Cash?
Most of us would quickly respond "yes" to the title question. After all, cash is highly susceptible to misappropriation, and falsifying cash disbursements is the means for perpetrating and covering most frauds. In spite of this, my answer would be, "Not always!"
Improve Your Excel Data Reporting Chistopher J. Wood
Would you like to learn how to simplify retrieving and presenting your spreadsheet data? Christopher J. Wood, CPA (aka Captain Excel) will present a live webcast on July 27 demonstrating some of the powerful functions in Excel (like Lookup Wizard and Vlookup) as well as key drop down menus. Don’t miss Excel: Building a Better Reporting Template.
Q&A
Presley Toe Tag
Instruments used in Elvis Presley's autopsy and embalming are going up for auction, including the "John Doe" toe tag used after the original was stolen amid the chaos at the hospital following his death. I realize this is an auction, but how is an estimated value determined prior to the auction?
Add your input!
Data Corruption Occurring During Installation of New QuickBooks Version
Has anyone witnessed data corruption occurring during an installation of a newer QuickBooks version?
Share your suggestions!
Kaplan Weekly Quiz
KaplanAre you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz.
Partners
Latest industry news
Click the link above to find out what's going on among our advertising partners — or check out the stories below:
Copanion wins Red Herring Top 100 North America Award
SpeedTax, Fujitsu form alliance to expand North American industry outreach
The Growth Partnership develops iPhone application for accounting firms
Technology Changes Everything
Across The Pond
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