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APRIL 8, 2008

Features

First female named to CEO spot among top 25 CPA firms
Clifton Gunderson, ranked as one of the nation's largest certified public accounting and consulting firms, has announced it has named Krista McMasters as Chief Executive Officer. McMasters succeeds Carl George, who, in a planned move, is retiring after 16 years as CEO of Clifton Gunderson. McMasters will begin the transition into her new role, effective immediately, until she officially takes office on June 1, 2009.

Financial worries keep adults from making life decisions
Four in 10 American adults -- 41 percent -- are holding off on major life decisions either because they are financially strapped or worried about the U.S. economy, according to a poll conducted by Harris Interactive for the American Institute of Certified Public Accountants. The decisions include home ownership, higher education, marriage, children, medical procedures and retirement.

IRS reminds taxpayers of options for making tax payments
The Internal Revenue Service has issued a notice reminding taxpayers who owe taxes but who can't pay in full that several options are available to help them meet their tax obligations and save money by the April 15 filing deadline.

Small Business News

PCAOB announces small business audit forums
The Public Company Accounting Oversight Board has announced the 2008 series of its Forums on Auditing in the Small Business Environment. These forums are designed to help share important information with registered public accounting firms and public companies operating in the small business community.

Blogs!

What have you got to say today?

Anita Campbell:
The Complete Small Business Blog
On checking out the competition

Somebody emailed me a blog post with a title I simply couldn't ignore: (Legal) Espionage: 20 Creative Ways to Research your Industry Competitors. It's actually a pretty decent list of ways to gather market intelligence about your competition. There's nothing illegal or even shady about them.... Some of the methods may seem obvious. Still, most companies don't do a very good job even on the low-hanging fruit of obvious market intelligence gathering. I'd be surprised if most businesses use more than one-third of the methods on the list to monitor their competitors....

Gary Levine, CPA:
Capitalization Matters
CFOs can be cool again: QuickBooks is on your iPhone

When I got a pop-up message from Intuit the other day that they have jumped on the bandwagon and released a read-only version of QuickBooks Online for the iPhone, it got me thinking about cell phones and my new iPhone. It made me realize how pervasive this new productivity tool had become in the nine months since its release.... I think it's a great looking view-only application and delivers a minimum amount of information into the palm of your hand. How much is in a bank account? How much do we owe that vendor? How much does this customer owe us today? A balance sheet for Dec. 31st? It's all there...

Editor's Note

This is a landmark day. A man in Kodiak, Alaska was sent to jail for attacking bar patrons with bear spray. Twice! I didn't even know such a thing as bear spray existed! But seriously, the really big news today is that Clifton Gunderson, a firm I considered working at when I launched my accounting career many years ago, has just appointed the first woman CEO. Not just the first in their firm, but the first woman CEO among the 25 largest CPA firms in the country. Now I'm not saying that had I decided to work at Clifton Gunderson that might have been me, but let's just consider the fact that women can be strong leaders too. After all, who knows? Maybe the next time it will be a woman with a can of bear spray in the bar.

Gail Perry, CPA
Managing Editor
editor@accountingweb.com



Lite News

Laughing at taxes: Lawyer wins TurboTax laugh contest
A good laugh never hurt anyone, especially at tax time. And Austin attorney John Ramsey came up with enough good laughs about taxes to win the Intuit TurboTax TaxLaugh contest and its $10,000 grand prize. Last week, Ramsey opened for actor, comedian, and TaxLaugh host Jay Mohr at the Improv in Brea, CA.

Tech News

Software tool helps companies meet requirements of new identity theft rule
Under a new Federal regulation, by November 1, 2008, banks, credit unions, mortgage lenders, auto dealers, credit card lenders, payday lenders, landlords, utility companies, phone companies, and any business that extends credit, must perform a risk assessment to identify "red flag" weaknesses in their systems and procedures that could lead to identity theft.



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