Intuit has launched a program offering $10,000 cash grants and up to $10,000 in products and services to 10 accounting firms.
The Power to Get More Done program aims to help firms deal with the economy by giving them money to hire extra staff and invest in their business, along with products and services to increase their productivity.
Accounting professionals can download the entry form at http://accountant.intuit.com/GetMoreDone and prepare a brief business plan that explains how they will use the money to stimulate growth. Entries are due by 9:30 p.m. Pacific time on April 30. Judges include a panel of Intuit and accounting profession executives, with winners chosen each month from May through July.
In addition, Intuit is offering a 50 percent discount on a bundle of QuickBooks Premier Accountant 2009 and QuickBooks Pro 2009 products to accountants. Accounting professionals can also pass along free software and more than $2,000 in savings on select Intuit financial and business management products and services to their clients.
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Showing posts with label Accounting Firm. Show all posts
Showing posts with label Accounting Firm. Show all posts
Thursday, January 29, 2009
Friday, November 14, 2008
Two big accounting firms chosen for rescue program
WASHINGTON (AP) — The government has selected two major accounting firms to help it manage the $700 billion rescue program for the financial system.
The Treasury Department said Tuesday it had chosen PricewaterhouseCoopers to be the auditor for the program. Ernst & Young will provide general accounting support.
The two firms will work on the part of the rescue program that is handling the purchase of troubled assets from banks as a way of encouraging them to resume more normal lending.
Treasury said that Ernst & Young will be paid $492,006.95 initially while Pricewaterhouse Coopers will be paid $191,469.27 for its services initially. The two contracts last until Sept. 30, 2011.
Read More Article...
The Treasury Department said Tuesday it had chosen PricewaterhouseCoopers to be the auditor for the program. Ernst & Young will provide general accounting support.
The two firms will work on the part of the rescue program that is handling the purchase of troubled assets from banks as a way of encouraging them to resume more normal lending.
Treasury said that Ernst & Young will be paid $492,006.95 initially while Pricewaterhouse Coopers will be paid $191,469.27 for its services initially. The two contracts last until Sept. 30, 2011.
Read More Article...
Friday, October 3, 2008
BPOs see big money in global accounting norms
NEW DELHI: Business process outsourcing (BPO) outfits in India are gearing up to rake in moolah as India Inc gets ready for convergence with the global accounting norms. Many of the Indian KPOs and BPOs have started assessing their capabilities in providing support for managing the required changes.
According to Nasscom officials, outfits that lack the necessary skills to provide the convergence-related support are putting their employees on training.
According to Grant Thornton partner Khazat Kotwal, International Financial Reporting Standards (IFRS) cannot be looked as a mere technical exercise limited to change from one accounting principle to another.
It is expected to impact all aspects of the way in which India Inc operates, including accounting policies and procedures, financial reporting and disclosures, and information technology systems.
Read More Article...
According to Nasscom officials, outfits that lack the necessary skills to provide the convergence-related support are putting their employees on training.
According to Grant Thornton partner Khazat Kotwal, International Financial Reporting Standards (IFRS) cannot be looked as a mere technical exercise limited to change from one accounting principle to another.
It is expected to impact all aspects of the way in which India Inc operates, including accounting policies and procedures, financial reporting and disclosures, and information technology systems.
Read More Article...
Sunday, September 14, 2008
Accounting Firm Launches New Website for Students and Job Seekers
Aronson & Company (A&C), a nationally-ranked top 50 accounting and consulting firm, recently announced the launch of its TeamAronson.com website geared toward college accounting and finance majors entering the job market. The site, which was designed in support of the firm's recruiting efforts, is part of an initiative to help reinforce their employer brand and put a recognizable face on their on-campus recruiting program. Furthermore, the firm intends to develop the site as a resource for prospective and current accounting professionals, by giving them direct and immediate electronic access to industry information. The company expects to add a blog function to the site shortly, which will open a direct line of communication between recruiters, college students and job seekers.
As part of this initiative, A&C is giving away a Dorm Room Super Bowl Party grand prize. In addition to the prize entry form, the site features information about the company, press releases and other news, useful links about the accounting industry, and even profiles for their recruiters, giving job seekers direct access to the staff and humanizing what can be a daunting process for many college students.
Read More Article...
As part of this initiative, A&C is giving away a Dorm Room Super Bowl Party grand prize. In addition to the prize entry form, the site features information about the company, press releases and other news, useful links about the accounting industry, and even profiles for their recruiters, giving job seekers direct access to the staff and humanizing what can be a daunting process for many college students.
Read More Article...
Sunday, September 7, 2008
Why small accounting firms matter
How they can save you money in the current economic downturn.
With the current economic slowdown, mid-sized companies need to overcome their bias towards the larger professional firms and become more discerning buyers of audit, accounting and legal services in pursuit of better value for money and greater efficiencies.
Smaller and medium-sized legal and accounting firms have built up their specialist services, their teams and their broad capabilities and have shown that they can compete with the much larger firms at a much lower price.
In addition, the draft Companies Bill exemption of small businesses from rigorous financial reporting requirements and audits has acted as a catalyst for a change in buying behaviour.
The Companies Bill is good for South Africa's accountancy profession as smaller companies will be drawn to those firms that are focused on providing non-audit services that are better suited to their requirements.
The new legislation will not kill off the livelihood of the smaller accountancy firms but that they will need to redefine their roles and rethink their structures.
Read More Article...
With the current economic slowdown, mid-sized companies need to overcome their bias towards the larger professional firms and become more discerning buyers of audit, accounting and legal services in pursuit of better value for money and greater efficiencies.
Smaller and medium-sized legal and accounting firms have built up their specialist services, their teams and their broad capabilities and have shown that they can compete with the much larger firms at a much lower price.
In addition, the draft Companies Bill exemption of small businesses from rigorous financial reporting requirements and audits has acted as a catalyst for a change in buying behaviour.
The Companies Bill is good for South Africa's accountancy profession as smaller companies will be drawn to those firms that are focused on providing non-audit services that are better suited to their requirements.
The new legislation will not kill off the livelihood of the smaller accountancy firms but that they will need to redefine their roles and rethink their structures.
Read More Article...
Friday, August 1, 2008
Accounting firms can't help on tax
If policymakers think the big auditors are going to help them roll back tax avoidance, they may have a long wait
Don't let the fox guard the henhouse." It may be an old proverb, but many involved in financial regulation do not appear to be aware of it. Blinkered policymakers think that major accounting firms are somehow going to help them to stem the tide of tax avoidance. Such aspirations have little chance of becoming reality until major accounting firms are forced to put their own houses in order.
Earlier this year, Christian Aid (pdf) reported that big accounting firms are at the heart of a global tax avoidance industry. It showed how depriving governments of vital revenues for investment in social infrastructure can cause death and misery for millions. Big accounting firms are protected by a cocoon of secrecy and confidentiality laws, but some evidence of their activities is publicly available.
KPMG has been the subject of what the US justice department described as the "largest criminal tax case ever filed".
KPMG admitted that it engaged in fraudulent practices that enabled its clients to generate phoney losses. The firm collected huge fees and the tax authorities lost billions of dollars in tax revenues. The firm paid $456m in fines, but escaped closure. A number of its partners may face prosecutions.
Read More Article...
Don't let the fox guard the henhouse." It may be an old proverb, but many involved in financial regulation do not appear to be aware of it. Blinkered policymakers think that major accounting firms are somehow going to help them to stem the tide of tax avoidance. Such aspirations have little chance of becoming reality until major accounting firms are forced to put their own houses in order.
Earlier this year, Christian Aid (pdf) reported that big accounting firms are at the heart of a global tax avoidance industry. It showed how depriving governments of vital revenues for investment in social infrastructure can cause death and misery for millions. Big accounting firms are protected by a cocoon of secrecy and confidentiality laws, but some evidence of their activities is publicly available.
KPMG has been the subject of what the US justice department described as the "largest criminal tax case ever filed".
KPMG admitted that it engaged in fraudulent practices that enabled its clients to generate phoney losses. The firm collected huge fees and the tax authorities lost billions of dollars in tax revenues. The firm paid $456m in fines, but escaped closure. A number of its partners may face prosecutions.
Read More Article...
Monday, July 28, 2008
Accounting firm says Omaha has competitive taxes
A new study from a major accounting firm says Omaha offers businesses a lower tax burden than other mid-sized cities in America.
The study from KPMG International says Omaha's total tax index is 5.8% lower than the national average. That was the best rating for cities with populations between 500,000 and 2 million in their metropolitan areas.
Read More Article...
The study from KPMG International says Omaha's total tax index is 5.8% lower than the national average. That was the best rating for cities with populations between 500,000 and 2 million in their metropolitan areas.
Read More Article...
Thursday, July 24, 2008
Accounting change not meant to shock: SEC's Cox
WASHINGTON (Reuters) - An accounting change that could force banks to bring trillions of dollars of off-balance sheet transactions back on their books will be implemented in a way that will not create unnecessary shocks, the chairman of the U.S. Securities and Exchange Commission said on Thursday.
"We want to make sure that the discussion of this and the implementation of this is done in such a fashion that the market can absorb it and it does not create any unnecessary shocks," SEC Chairman Christopher Cox told a Congressional panel.
Accounting rule-maker the Financial Accounting Standards Board is working on a proposal to eliminate certain off-balance sheet entities called qualified special purpose entities (QSPEs) that are used to pool debt such as car loans and mortgages.
Read More Article...
"We want to make sure that the discussion of this and the implementation of this is done in such a fashion that the market can absorb it and it does not create any unnecessary shocks," SEC Chairman Christopher Cox told a Congressional panel.
Accounting rule-maker the Financial Accounting Standards Board is working on a proposal to eliminate certain off-balance sheet entities called qualified special purpose entities (QSPEs) that are used to pool debt such as car loans and mortgages.
Read More Article...
Sunday, July 6, 2008
Big Four accounting firms edge back into consulting biz
A half-dozen years after passage of the Sarbanes-Oxley Act, much of the compliance work is leveling off and large accounting firms are casting their eyes back to the consulting and midmarket audit work they previously abandoned.
"There's still a whole lot of things you can do for your audit clients that are not precluded by the Sarbanes-Oxley rules," said Anthony Conti, managing partner for the Philadelphia office of PricewaterhouseCoopers. "You obviously can't be part of management, you can't do things you're going to audit, you can't implement system, but you can certainly advise on systems."
Read More Article...
"There's still a whole lot of things you can do for your audit clients that are not precluded by the Sarbanes-Oxley rules," said Anthony Conti, managing partner for the Philadelphia office of PricewaterhouseCoopers. "You obviously can't be part of management, you can't do things you're going to audit, you can't implement system, but you can certainly advise on systems."
Read More Article...
Monday, June 9, 2008
Bookkeeping Express partners with Intelligent Office
Bookkeeping Express has teamed with Intelligent Office to provide accounting services to small businesses in the D.C. area.
This is the first partnership in the area for the McLean-based bookkeeping company, which was acquired last year by Merritt Green, Bob Stocker and Greg Jones.
The owners moved the 20-year-old bookkeeping company's headquarters from California, and aligned the company with the American Institute of Professional Bookkeepers in Rockville. They plan to launch a national franchise system later this month.
Intelligent Office, a virtual office base that offers remote receptionist services, will provide bookkeeping services to its 800 small business clients in the D.C. area through the new partnership. Services include accounts payable and receivable, monthly reporting, and bank reconciliation.
Read More Article...
This is the first partnership in the area for the McLean-based bookkeeping company, which was acquired last year by Merritt Green, Bob Stocker and Greg Jones.
The owners moved the 20-year-old bookkeeping company's headquarters from California, and aligned the company with the American Institute of Professional Bookkeepers in Rockville. They plan to launch a national franchise system later this month.
Intelligent Office, a virtual office base that offers remote receptionist services, will provide bookkeeping services to its 800 small business clients in the D.C. area through the new partnership. Services include accounts payable and receivable, monthly reporting, and bank reconciliation.
Read More Article...
Bookkeeping Express partners with Intelligent Office
Bookkeeping Express has teamed with Intelligent Office to provide accounting services to small businesses in the D.C. area.
This is the first partnership in the area for the McLean-based bookkeeping company, which was acquired last year by Merritt Green, Bob Stocker and Greg Jones.
The owners moved the 20-year-old bookkeeping company's headquarters from California, and aligned the company with the American Institute of Professional Bookkeepers in Rockville. They plan to launch a national franchise system later this month.
Intelligent Office, a virtual office base that offers remote receptionist services, will provide bookkeeping services to its 800 small business clients in the D.C. area through the new partnership. Services include accounts payable and receivable, monthly reporting, and bank reconciliation.
Read More Article...
This is the first partnership in the area for the McLean-based bookkeeping company, which was acquired last year by Merritt Green, Bob Stocker and Greg Jones.
The owners moved the 20-year-old bookkeeping company's headquarters from California, and aligned the company with the American Institute of Professional Bookkeepers in Rockville. They plan to launch a national franchise system later this month.
Intelligent Office, a virtual office base that offers remote receptionist services, will provide bookkeeping services to its 800 small business clients in the D.C. area through the new partnership. Services include accounts payable and receivable, monthly reporting, and bank reconciliation.
Read More Article...
Sunday, March 30, 2008
Local accounting firm races to lose weight
Have you filed your income taxes yet?
If you think you're stressed about tax day, think about accountants. They're trying to meet with clients and keep themselves healthy.
Kirk, Kelli, and Cari are not accountants, but they are at the end of Week 10 in WSBT’s Why Weight challenge.
They have a little over two weeks left in their 12-week medical weight loss program. That's about the same amount of time left in a health challenge for the employees at one local accounting firm.
They're using their busiest time of the year to get healthy.
Accountants are working around the clock at the Kruggel, Lawton & Co. accounting firm in downtown South Bend.
Read More Article...
If you think you're stressed about tax day, think about accountants. They're trying to meet with clients and keep themselves healthy.
Kirk, Kelli, and Cari are not accountants, but they are at the end of Week 10 in WSBT’s Why Weight challenge.
They have a little over two weeks left in their 12-week medical weight loss program. That's about the same amount of time left in a health challenge for the employees at one local accounting firm.
They're using their busiest time of the year to get healthy.
Accountants are working around the clock at the Kruggel, Lawton & Co. accounting firm in downtown South Bend.
Read More Article...
Friday, March 7, 2008
Tax preparation businesses keep up with the latest tax rules
For area tax professionals like Mike Martin, experience may be the best teacher when it comes to understanding the lively practice of tax preparation.
Martin launched Independence-based Mike Martin & Associates Inc. after working nearly two decades as an executive for H&R Block Inc.
Despite competition from new tax preparers and do-it-yourself software, Martin and his staff typically realize a steady increase in the number of new faces that come in every year for tax services.
“We usually experience an 18 to 20 percent increase in new clients, which replaces the number that pass away or move away,” Martin said. “This year, we’re already seeing a 22 to 23 percent clip in new business.”
Numerous Kansas City accounting firms and bookkeeping services posted significant increases in the number of individual and business returns they completed in 2007, compared with the previous year.
Read More Article...
Martin launched Independence-based Mike Martin & Associates Inc. after working nearly two decades as an executive for H&R Block Inc.
Despite competition from new tax preparers and do-it-yourself software, Martin and his staff typically realize a steady increase in the number of new faces that come in every year for tax services.
“We usually experience an 18 to 20 percent increase in new clients, which replaces the number that pass away or move away,” Martin said. “This year, we’re already seeing a 22 to 23 percent clip in new business.”
Numerous Kansas City accounting firms and bookkeeping services posted significant increases in the number of individual and business returns they completed in 2007, compared with the previous year.
Read More Article...
Tuesday, February 26, 2008
Area mid-sized accounting firms bulking up
Mid-sized accounting firms throughout the Washington area are taking on additional office space to to make room for ongoing staff expansions.
Fueled by increased demand for their services, including audit, business consulting or tax advisory work, local accounting firms are growing, adding new workers, occupying more space and in some cases, opening new locations.
RSM McGladrey Inc., which has 600 workers at a handful of offices from Baltimore south to Richmond, Va., has opened an officeat 9737 Washingtonian Blvd. in Gaithersburg.
About 115 workers are housed in the nearly 20,000-square-foot office, with ample room to expand. The firm decided to set up shop in Gaithersburg because it is between other area offices in Frederick and Tysons Corner. It has additional offices in Baltimore, Timonium, Md., and Richmond.
Read More Article...
Fueled by increased demand for their services, including audit, business consulting or tax advisory work, local accounting firms are growing, adding new workers, occupying more space and in some cases, opening new locations.
RSM McGladrey Inc., which has 600 workers at a handful of offices from Baltimore south to Richmond, Va., has opened an officeat 9737 Washingtonian Blvd. in Gaithersburg.
About 115 workers are housed in the nearly 20,000-square-foot office, with ample room to expand. The firm decided to set up shop in Gaithersburg because it is between other area offices in Frederick and Tysons Corner. It has additional offices in Baltimore, Timonium, Md., and Richmond.
Read More Article...
Sunday, February 24, 2008
Seven tax tips to put more in your pocket
Taxpayers can find tax breaks in charitable donations, private mortgage insurance, and higher education, experts say.
There weren't many changes with income-tax legislation in 2007, but there's always something going on in Washington – an odd twist here or a screwball trap there.
So it pays to, well, pay attention to what's new as the April 15 filing deadline draws closer. You might not have been reading yourself to sleep at night with fresh copies of changes to the Internal Revenue Code. But Barbara Weltman and Mark Steber were. They are, respectively, a contributing editor to JK Lasser's tax guides, and an expert on taxes at Jackson Hewitt Tax Service, and it's their job to stay on top of this sort of stuff.
Read More Article...
There weren't many changes with income-tax legislation in 2007, but there's always something going on in Washington – an odd twist here or a screwball trap there.
So it pays to, well, pay attention to what's new as the April 15 filing deadline draws closer. You might not have been reading yourself to sleep at night with fresh copies of changes to the Internal Revenue Code. But Barbara Weltman and Mark Steber were. They are, respectively, a contributing editor to JK Lasser's tax guides, and an expert on taxes at Jackson Hewitt Tax Service, and it's their job to stay on top of this sort of stuff.
Read More Article...
Sunday, February 17, 2008
Focus keeps accounting firm on track
Southfield accounting firm Clayton & McKervey PC has nurtured revenue growth of 40% in the past three years by focusing on growing, middle-market, private companies that have a global reach.
The Southfield firm's staff has grown by 30% in the same period, to nearly 65 from 50.
Managing partner Don Clayton and shareholder Kevin McKervey attribute the firm's growth to their focus during the past four years on defining and then sticking to the one thing that they can be best at, what "Good to Great" business reference author Jim Collins calls a company's hedgehog concept.
In Clayton & McKervey's case, that is helping entrepreneurial companies from other countries expand to the United States and U.S. companies do business in other countries.
Using its own people -- its 65 staffers speak 14 languages -- along with foreign partners at affiliate offices of PKF International, a worldwide association of accounting firms, Clayton & McKervey helps businesses navigate the sometimes confusing paths for establishing and maintaining foreign systems.
Read More Article...
The Southfield firm's staff has grown by 30% in the same period, to nearly 65 from 50.
Managing partner Don Clayton and shareholder Kevin McKervey attribute the firm's growth to their focus during the past four years on defining and then sticking to the one thing that they can be best at, what "Good to Great" business reference author Jim Collins calls a company's hedgehog concept.
In Clayton & McKervey's case, that is helping entrepreneurial companies from other countries expand to the United States and U.S. companies do business in other countries.
Using its own people -- its 65 staffers speak 14 languages -- along with foreign partners at affiliate offices of PKF International, a worldwide association of accounting firms, Clayton & McKervey helps businesses navigate the sometimes confusing paths for establishing and maintaining foreign systems.
Read More Article...
Tuesday, February 5, 2008
Tax advisor shortage: US returns prepared in India
As many as 360,000 US tax returns were prepared in India in 2006, according to a report prepared by Pune-based ValueNotes, a leading provider of business intelligence and research.
The report says that at least 1.6 million returns will be prepared in India by 2011, but adds that this estimate is quite conservative and the potential is much larger at 22 million returns per year by 2011.
Actual offshoring could be limited by CPA firms' (US's Certified Public Accountant) inhibitions about outsourcing the work to India, but competitive pressures could force many more firms to offshore, the report says.
Glen Keenan, president of Xpitax, a facilitating outfit, says: "The whole outsourcing business requires a shift in thinking for the CPA firms, so comfort factor has to be really high in order to do that."
The accounting and audit services are relatively new in offshoring and are gradually gaining maturity with each passing tax season. Unlike other services, which are traditionally outsourced due to cost pressures, the demand for tax returns offshoring stems from the lack of accountants and excessive workload during the 'tax season.'
The number of CPAs and other qualified accountants in the US are just not enough to meet the increasing demand from increasing tax compliance, Sarbanes--Oxley related work, estate planning, advisories, et cetera. The demand-supply mismatch has led to severe competition for experienced accountants and salaries are skyrocketting, even at starting levels.
CPA firms are discovering that offshored tax returns are not only turned around faster, but are also 40% to 60% cheaper. CPA firms after initial success with tax returns preparation is slowly sending more work offshore: bookkeeping, financial statements analysis, etc.
ValueNotes CEO Arun Jethmalani says: "The industry will quickly move beyond 1040s. Both the vendors and buyers are at an inflection point on the maturity graph, and we expect tax returns preparation will drive penetration into a wider range of offshored professional accounting services."
The Indian offshore services provider landscape consists of captives of the Big Four audit firms (KPMG, PricewaterhouseCoopers, Deloitte and Touch, and Ernst & Young), American facilitating firms / agencies (Xpitax, SurePrep, CCH, IFR), Tier-1 multi-service BPOs (MphasiS, Datamatics, OPI), Tier-2 BPOs (PB Tech Impact Solutions, Cosmic Internet Technologies) and F&A BPOs owned/ controlled by Indian chartered accountants (GKM Management Services, Business Accounting Services, Accountant Anywhere, Enablizer).
Pratibha K, analyst at ValueNotes, feels that "facilitators like Xpitax and SurePrep are best positioned to service CPA firms, while Indian CA BPOs are well placed to operate as complete back-offices for accounting firms."
Based on the analysis that included extensive primary research, ValueNotes picked three winners from the current crop of vendors: Xpitax, GKM Management Services and Business Accounting Services.
Karthikeyan, managing director, GKM Management Services, says, "As chartered accountants, we feel our biggest advantage is that we can speak the global language of accounting with the CPAs. We feel this is a good differentiating factor for us compared to the large corporate vendors. CPAs are bound to trust us more than the tech companies because of our common accounting background."
The ValueNotes report 'Offshoring Tax Return Preparation to India' -- said that tax return preparation will also set the stage for other accounting services to be sent to India.
Source: http://www.offshoringtimes.com/
The report says that at least 1.6 million returns will be prepared in India by 2011, but adds that this estimate is quite conservative and the potential is much larger at 22 million returns per year by 2011.
Actual offshoring could be limited by CPA firms' (US's Certified Public Accountant) inhibitions about outsourcing the work to India, but competitive pressures could force many more firms to offshore, the report says.
Glen Keenan, president of Xpitax, a facilitating outfit, says: "The whole outsourcing business requires a shift in thinking for the CPA firms, so comfort factor has to be really high in order to do that."
The accounting and audit services are relatively new in offshoring and are gradually gaining maturity with each passing tax season. Unlike other services, which are traditionally outsourced due to cost pressures, the demand for tax returns offshoring stems from the lack of accountants and excessive workload during the 'tax season.'
The number of CPAs and other qualified accountants in the US are just not enough to meet the increasing demand from increasing tax compliance, Sarbanes--Oxley related work, estate planning, advisories, et cetera. The demand-supply mismatch has led to severe competition for experienced accountants and salaries are skyrocketting, even at starting levels.
CPA firms are discovering that offshored tax returns are not only turned around faster, but are also 40% to 60% cheaper. CPA firms after initial success with tax returns preparation is slowly sending more work offshore: bookkeeping, financial statements analysis, etc.
ValueNotes CEO Arun Jethmalani says: "The industry will quickly move beyond 1040s. Both the vendors and buyers are at an inflection point on the maturity graph, and we expect tax returns preparation will drive penetration into a wider range of offshored professional accounting services."
The Indian offshore services provider landscape consists of captives of the Big Four audit firms (KPMG, PricewaterhouseCoopers, Deloitte and Touch, and Ernst & Young), American facilitating firms / agencies (Xpitax, SurePrep, CCH, IFR), Tier-1 multi-service BPOs (MphasiS, Datamatics, OPI), Tier-2 BPOs (PB Tech Impact Solutions, Cosmic Internet Technologies) and F&A BPOs owned/ controlled by Indian chartered accountants (GKM Management Services, Business Accounting Services, Accountant Anywhere, Enablizer).
Pratibha K, analyst at ValueNotes, feels that "facilitators like Xpitax and SurePrep are best positioned to service CPA firms, while Indian CA BPOs are well placed to operate as complete back-offices for accounting firms."
Based on the analysis that included extensive primary research, ValueNotes picked three winners from the current crop of vendors: Xpitax, GKM Management Services and Business Accounting Services.
Karthikeyan, managing director, GKM Management Services, says, "As chartered accountants, we feel our biggest advantage is that we can speak the global language of accounting with the CPAs. We feel this is a good differentiating factor for us compared to the large corporate vendors. CPAs are bound to trust us more than the tech companies because of our common accounting background."
The ValueNotes report 'Offshoring Tax Return Preparation to India' -- said that tax return preparation will also set the stage for other accounting services to be sent to India.
Source: http://www.offshoringtimes.com/
Sunday, February 3, 2008
Hiring Good at Accounting Firms
While U.S. markets are getting squeezed and Wall Street firms hand out pink slips by the hundreds, accounting firms are expected to buck the hiring trend.
The Big Four accounting firms plan to hire roughly the same number _ or more _ of interns and entry-level employees for 2008 as they did last year. According to the National Association of Colleges and Employers' 2008 job outlook survey, accounting is the No. 1 bachelor's degree in demand by employers.
Fortunately for these firms, the number of undergraduate and graduate-level accounting majors keeps rising.
"It's often the case that accounting hiring is countercyclical to the strength of the economy," said Ira Solomon, head of the department of accountancy at the University of Illinois at Urbana-Champaign.
"It's not the case that as the economy goes down, the demand for accountants goes down," he said. At Solomon's school, ranked second among college accounting programs by U.S. News & World Report, the number of undergraduate and graduate accounting students rose 27 percent in the past two years to 653 students.
Read More Article...
The Big Four accounting firms plan to hire roughly the same number _ or more _ of interns and entry-level employees for 2008 as they did last year. According to the National Association of Colleges and Employers' 2008 job outlook survey, accounting is the No. 1 bachelor's degree in demand by employers.
Fortunately for these firms, the number of undergraduate and graduate-level accounting majors keeps rising.
"It's often the case that accounting hiring is countercyclical to the strength of the economy," said Ira Solomon, head of the department of accountancy at the University of Illinois at Urbana-Champaign.
"It's not the case that as the economy goes down, the demand for accountants goes down," he said. At Solomon's school, ranked second among college accounting programs by U.S. News & World Report, the number of undergraduate and graduate accounting students rose 27 percent in the past two years to 653 students.
Read More Article...
Thursday, January 24, 2008
Big Accounting Firms Use SkyPBX for Skype Service
Well-known international accounting firms use SkyPBX for Skype services to cut down their high telephony bills!
Big Accounting Firms Use SkyPBX for Skype Service
2008/1/15 Taipei
Well-known international accounting firms use SkyPBX for Skype services to cut down their high telephony bills! SkyPBX, which enables Skype calls using regular office phones and PBX, has obvious overcome the security concerns that have long blocked the Skype services into many large companies, including PWC, Deloitte Taiwan, the biggest accounting firms in Taiwan.
The SkyPBX are outstanding among many other competing products for their unique features, including the unique company Skype account as hunt group, the auto call distribution for multi-simultaneous Skype calls, and the stackable and unlimited port extension, etc.
Read More Article...
Big Accounting Firms Use SkyPBX for Skype Service
2008/1/15 Taipei
Well-known international accounting firms use SkyPBX for Skype services to cut down their high telephony bills! SkyPBX, which enables Skype calls using regular office phones and PBX, has obvious overcome the security concerns that have long blocked the Skype services into many large companies, including PWC, Deloitte Taiwan, the biggest accounting firms in Taiwan.
The SkyPBX are outstanding among many other competing products for their unique features, including the unique company Skype account as hunt group, the auto call distribution for multi-simultaneous Skype calls, and the stackable and unlimited port extension, etc.
Read More Article...
Thursday, January 10, 2008
Accounting rules will hit profits
Companies will have to change the way acquisition costs are handled under new accounting rules – a move that will hit profits and could damp the urge for mergers.
Fees charged by investment bankers, lawyers and accountants are currently bundled into the overall cost of a takeover and go on the balance sheet as part of “goodwill” – the accounting catch-all term used to cover the difference between the price paid and the actual value of the assets.
Separating the fees will force companies to book a one-off expense for each deal, denting their net income for that period.
Read More Article...
Fees charged by investment bankers, lawyers and accountants are currently bundled into the overall cost of a takeover and go on the balance sheet as part of “goodwill” – the accounting catch-all term used to cover the difference between the price paid and the actual value of the assets.
Separating the fees will force companies to book a one-off expense for each deal, denting their net income for that period.
Read More Article...
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