The Treasury has announced plans to offer debit cards as an
option for Social Security payment recipients. In today's
electronic society, this seems like a smart move on several
levels, cutting costs for the government - and of course we can
assume the government will funnel that savings right back into
the Social Security fund to help stave off the impending
onslaught of payments that will be owing as the floodgates are
trampled by the army of retiring baby boomers, right? The only
ones who will probably be hurt by this move are the companies
that are in the business of providing check-cashing services.
If any of you readers out there have clients in this area,
please let us know how these companies are planning on dealing
with this change.
Gail Perry, CPA
A Florida accounting student would like to hear about some real-life examples of using reversing entries.
Read and Respond Now
A reader is looking for assistance in determining how to
depreciate leasehold improvements.
Read and Respond Now
What have you got to say today?
Allan Boress, CPA:
Truth Be Told About Business Development Blog
Selling Fees Part 1: Why Is There Fee Resistance?
Many CPAs get beaten up on their fees -- unnecessarily. Why?
This happens for several reasons: 1. The client deals with the
CPA reluctantly Much of our business is created through no
desire of the client, but because someone is telling them that
they have to deal with a CPA, such as a bank requiring audited
financial statements, or the annual 1040 or 1120 simply being
too complicated and painful to do oneself....
Linda Cavanaugh, CPA:
Proposed Statement on Disclosure of Certain Loss Contingencies, an amendment of FASB Statements No. 5 and 141(R)
This proposed Statement is being issued due to concerns
expressed by financial statement users that current disclosures
on loss contingencies are not adequate. The concern is partly
over quantitative disclosures and the "overuse" of the "not
The K2 Team:
Accounting Technology Talk and More!
Fiber Optic Internet and New Software Business Models
I'm in the middle of getting fiber optic internet installed
today (through TDS, my phone company - even though I don't have
a land line), and am excited about it. I'll post more, as well
as some speed tests once I get things set up. Speed on the line
is advertised as 25Mbs down, 10Mbps up. Hopefully this will
eliminate the occasional flutter in my VOIP conversations.
Executive Compensation Best Practices
by Frederick D. Lipman, Steven E. Hall
Executive compensation practices are under enormous scrutiny from activist shareholders, corporate governance rating groups, the media, and lawmakers. This public controversy over executive pay has resulted from the failure of compensation committees to use "best practices" in establishing CEO compensation and in the failure to adequately explain to shareholders both the methodology used and the growing competition for executive talent with private equity funds.
People who receive Social Security can now get their monthly
payments on a prepaid debit card, a new alternative to checks
or direct deposit. more
July Tax Talk will address retirement plan pitfalls
Stimulus rebate payment program wrapping up
AICPA to offer IFRS training
In today's competitive job market, small business owners often
find themselves feeling the odds are against them in finding
the right employee. Positions in accounting, information
technology (IT) and sales are increasingly in high demand and
require businesses to have human resource tools that are both
competitive and strong enough to bring in the best possible recruits.
Getting started with social media: Real life examples
Creating customer loyalty: Keep them coming back
Deloitte LLP has announced that it will invest approximately
$300 million in the creation of a state-of-the-art learning and
leadership development center in the Dallas-Ft. Worth area in
Westlake, TX. Construction on the new facility will begin in
2009 and the center is expected to open in 2011.
Baltimore area firms merge
Ohio CPA firm acquires Florida firm
Here is an interesting technique for setting the print area on
an Excel worksheet to include several individual, distinct
areas. This is relatively easy to accomplish by holding down
the Control key while selecting additional areas. However, if
the print area is made up of separate areas, then Excel will
print each on a separate page. One possible solution is to use
Excel's little known camera feature.
Survey results show many companies are unprepared for XBRL
Intuit hits 50,000-member milestone with QuickBooks ProAdvisor program