Catalyst (Dublin, Ohio) articles from January 2005

Catalyst (Dublin, Ohio) archives from January 2005

The power of one.(A message FROM THE CHAIR)
January 1, 2005... This past October, I was struck by what newly elected AICPA Chair Bob Bunting had to say during a luncheon at the AICPA Council meeting. In his speech, he talked about individuals establishing the greatness of a profession. The...

PCAOB proposed rules would impact tax services.(Breaking News)
January 1, 2005... At an open meeting on Dec. 14, the Public Company Accounting Oversight Board proposed ethics and independence rules concerning independence, tax services and contingent fees. Specifically, the rules would restrict the ability of accountants to...

Ohio Society scores major lawsuit abuse reform victory.(Breaking News)
January 1, 2005... The Ohio Society of CPAs scored a major legislative victory when the Ohio General Assembly passed meaningful lawsuit abuse reform, Am. Sub. SB 80, which will greatly improve the business environment in Ohio while protecting the rights of the...

FASB rules: stock options must be expensed.(Breaking News)
January 1, 2005... The value of stock options must officially be deducted from company profits, according to the final ruling from the FASB issued on Dec. 16, 2004. The new rule, FASB Statement No. 123 (revised 2004), Share-Based Payment, is effective for...

Ohio Supreme Court rules for non-attorneys in workers' comp hearings.(Breaking News)
January 1, 2005... The Ohio Supreme Court has ruled that non-attorneys who represent companies in workers' compensation hearings are not engaging in the unauthorized practice of law. The Court acknowledged that non-lawyers are an integral part of Ohio's...

Ohio Attorney General sues Fannie Mae.(Ohio)
January 1, 2005... Ohio Attorney General Jim Petro has filed a lawsuit on behalf of the state of Ohio alleging that Fannie Mae deceived investors by failing to disclose that it did not follow GAAP. The securities fraud class action lawsuit, initiated by Ohio...

Third Frontier Project boosts Ohio biotech.(Ohio)
January 1, 2005... Ohio ranked first in the nation in the growth of total venture capital funding for biotech firms from 2001 to 2003, according to an industry study released by the California-based research group Milken Institute. The state also ranked...

Fairlawn company drops from NASDAQ.(Ohio)
January 1, 2005... CFBank's parent, Fairlawn-based Central Federal Corp., has decided to delist from the NASDAQ. The company's board approved a 1-500 reverse stock split that will give shareholders one share of Central Federal stock for each 500 shares they...

Cleveland companies work together on HSAs.(Ohio)
January 1, 2005... National City Corp. has agreed to serve as a custodian of fellow Cleveland-based business Medical Mutual's Health Savings Account (HSA) product. The partnership is expected to enhance Medical Mutual's HSA product offerings. HSAs are...

Dayton considering free wireless network.(Ohio)
January 1, 2005... City officials in Dayton are debating the merits of a free, city-wide wireless Internet network, a move that would promote Dayton as a technology leader. The wireless network is expected to deliver close to T-1 speeds and will be...

IRS issues new tax rulings.(National)
January 1, 2005... The U.S. Treasury Department has released a new ruling saying employment taxes must be paid, and taxes withheld, on bonuses paid for signing an employment contract. The Treasury and IRS said the ruling concerns cases involving signing...

SOX ruled constitutional in first test of law.(National)
January 1, 2005... The Sarbanes-Oxley Act (SOX) was ruled constitutional in the first court test of the federal law. The ruling resulted from a motion filed in the trial of former Health South CEO Richard Scrushy, who argued the legislation is...

Most employees searching for a new job.(National)
January 1, 2005... Seventy-five percent of all employees are looking for new employment opportunities, according to the 2004 U.S. Job Recovery and Retention Survey. The top three reasons employees say they are looking to leave their current positions,...

AICPA rolls out new tagline.(National)
January 1, 2005... The AICPA has announced a new tagline to accompany the CPA logo, "America Counts on CPAs." This supersedes the previous tagline, "Never Underestimate the Value." Going forward, members are encouraged to use this tagline along with the CPA logo....

IRS increases mileage-rate deduction.(National)
January 1, 2005... The IRS has raised the mileage-rate deduction to a record level of 40.5 cents. This is a 3-cent increase from 37.5 cents a mile for this tax season. The raise is due to the increase in fuel costs and the high price of cars. Other increases...

Study: SOX spending nears $6 billion.(National)
January 1, 2005... Companies will spend $5.8 billion on SOX compliance in 2005, according to a new report by AMR Research. [GRAPHIC OMITTED] Despite initial thoughts that Sarbanes-Oxley spending would be a one-time expenditure, only 12 percent of...

Summing up: the danger of data loss.(Newsflash)
January 1, 2005... Yes, our data is vulnerable to being lost in a disaster. Business Executives 14% IT Executives 52% 2,000 laptops are lost or stolen every day. 40% of small businesses don't back up their files at all. 70% of small...

Inside view of Sarbanes-Oxley: an interview with Rep. Mike Oxley.(Cover Story)
January 1, 2005... Rep. Mike Oxley (R-Ohio) is more than just the cosponsor of the Sarbanes-Oxley Act of 2002, the most significant piece of business legislation since the Securities Act of 1934. He is an eleven year member of the U.S. Congress, chair of the...

State of Ohio business poll underscores need for policy changes.
January 1, 2005... Ohio's anti-competitive business climate continues to be a top concern among Ohio's CPAs, according to this year's State of Ohio Business Poll. The annual poll, sponsored by The Ohio Society of CPAs, gauges the opinions of CPAs throughout Ohio...

Perspectives on women in accounting: a roundtable discussion.
January 1, 2005... Today, women have a much greater presence in the CPA profession than 15 or even 10 years ago. However, even with tremendous growth in the number of women in accounting, challenges still remain. The 2004 Management of a Practice Survey showed...

Client screening and acceptance.
January 1, 2005... CLIENT SCREENING policies and procedures have long been recommended as the first steps in an effective loss control program. Such processes are now standard practice in the accounting profession. CPA firms should evaluate all potential new...

Identity theft: corporations can be victims too.
January 1, 2005... CPAs are long accustomed to promising their clients and customers full protection of confidential information. But while CPAs go to great lengths to protect the financial identities of clients and customers to prevent identity theft, in many...

Seven steps to effective communication.
January 1, 2005... A good politician, like a good CPA, knows that communication is about trust. People do not actively listen or respond to people they do not trust. To be a good communicator then, a CPA must take steps to build trust with those they are...

Self-assessment exam.
January 1, 2005... Catalyst -- January/February 2005 The self-assessment exam is provided as a convenient method for CPAs to earn CPE credit by reading Catalyst: The Leading Edge of Ohio Business. The exam consists of 25 multiple-choice questions covering...

Devising a game plan.
January 1, 2005... OHIO CPAS IN INDUSTRY CONFERENCE MARCH 14, 2005 COLUMBUS AIRPORT MARRIOTT HOTEL COLUMBUS, OHIO The Ohio CPAs in Industry Conference, targets corporate CPAs and business professionals looking to devise a game plan for success in...

Surveying the landscape: the 2004 MAP survey results.
January 1, 2005... This is one of those times when you can peek at your neighbor's answers. [GRAPHIC OMITTED] The results are in on a national survey providing an inside look into accounting firms next door and across the country. Over 2,400 firms...

Ohio Society scores lawsuit abuse reform victory.(Capitol Access)
January 1, 2005... With just days to go before the Ohio legislature adjourned for the biennium, The Ohio Society of CPAs scored a significant public policy win on tort reform. The Ohio Senate and Ohio House approved a meaningful, comprehensive tort reform bill...

Legislature passes Streamlined Sales Tax bill; Safeguards millions in state Internet tax revenue.(Capitol Access)
January 1, 2005... Recently passed state tax legislation (SB 218) is moving Ohio one step closer to full compliance with the multi-state Streamlined Sales Tax Agreement designed to allow states to capture lost sales and use taxes. Congress has also extended a...

"Sponge" tax changes expected next session.(Capitol Access)
January 1, 2005... Despite lobbying by The Ohio Society of CPAs and other interested parties--including the Ohio State Bar Association--and support from key legislative leaders, time ran out on legislation eliminating Ohio's imposition of the additional estate or...

Election wrap-up: new faces, challenges for the new year.(Capitol Access)
January 1, 2005... Election Day 2004 turned out to be a banner day for candidates backed by The Ohio Society of CPAs. Society-endorsed candidates for the Ohio General Assembly and Congress enjoyed a 95 percent success rate. Chief Justice Thomas Moyer, Judge...

What to expect in the year ahead.(Member Initiatives)
January 1, 2005... It has been nearly two years since the first Ohio Society chapter migrated to the member initiatives model. Since then, many members have taken advantage of the opportunities that the member initiatives program has presented. The annual CPE Day...

New year's resolution: make technology a priority in your office.(Business Bytes)
January 1, 2005... Every year at this time people sit down to write a "to do" list of items that they feel will help them improve certain aspects of their life. Typically, these lists include points outside of the office. This year, why not apply that strategy to...

Wireless e-mail: Treo[R] vs. BlackBerry[R]--which one is best?(Gadgets & Gizmos)
January 1, 2005... The PalmOne Treo and RIM BlackBerry are popular wireless devices aimed at business professionals who must maintain e-mail contact while on the road. Nearly every major wireless carrier offers these two devices. An outline of the major pros...

HR spotlight: meeting short-term staffing needs.
January 1, 2005... Many businesses have short-term staffing requirements--small windows of time in which they must complete a tremendous amount of work with the highest attention to detail and accuracy. The nature of the work is such that you often can't get a...

The basics of retirement planning.(Money Talk)
January 1, 2005... Retirement planning is a hot issue in today's economic climate. Changes in the tax code, questions about the Social Security system, and fluctuating investment markets are cause for concern. Here are the important issues, topics and advice on...

360 Degrees of Financial Literacy.(Financial Literacy)
January 1, 2005... In spring 2004, the AICPA launched a very aggressive and much needed campaign to improve the nation's financial literacy--360 Degrees of Financial Literacy. The Ohio Society has made a commitment to be a part of this campaign and has already...

Accounting for Kids[R] Day exceeds expectations.(Members Only)
January 1, 2005... More than 800 CPAs, finance and business professionals, and college accounting students visited over 270 classrooms around Ohio last November during Accounting for Kids Day 2004. ********** Accounting for Kids Day, officially...

Correction in November/December Catalyst.(Correction Notice)
January 1, 2005... Stephen C. Blowers was incorrectly identified and quoted in the article "Outsourcing: Its Impact on Us All," which ran in the November/December 2004 issue of Catalyst. Mr. Blowers is the Americas director of AABS risk management for Ernst...

Building leaders: the 2004 graduates of The Center for Leadership.(Members Only)
January 1, 2005... "If you want to manage someone, manage yourself! Do that well and you'll be ready to stop managing and start leading." --Steven E. Frohman, president of Applied Synergistics and principal developer of The Center for Leadership. On...

Quicker and easier: CPA2Biz rolls new online capabilities.(Members Only)
January 1, 2005... Last fall CPA2Biz launched a variety of new functions that make its Web site more user-friendly, including quicker navigation, a more robust CPE section and a simplified purchasing process. The most obvious change is the redesigned...

National award recognizes member's contributions to accounting.(Members Only)
January 1, 2005... "I was surprised I had been chosen," was the humble reply from Ray G. Stephens, D.B.A., CPA, CMA, recipient of the Beta Alpha Psi's 2004 National Outstanding Accounting Educator of the Year. "This was a national competition. It is rewarding...

Tax practice aids available.(Members Only)
January 1, 2005... Tax season is heating up and The Ohio Society of CPAs is here to help. The Ohio Society is again offering tax practice aids to assist you and your clients. Located on the Society's Web site at www.ohioscpa.com, the practical, one-stop-shop...

Experts on call: tap into the expertise of the Society's members.(Members Only)
January 1, 2005... Need advice on something that falls outside your normal practice area? Take advantage of the Society's CPA 2 CPA program. The free and confidential member service is designed to link members together for basic advice and/or consultation....

Increase your client base.(Members Only)
January 1, 2005... As a member benefit and public service, the Society refers individuals who need a CPA to firms that are looking to grow their practice. Individuals are matched with firms based on geographic location and areas of expertise. Firm names are...

Accountancy Board clarifies A & A, tax CPE requirement.(Members Only)
January 1, 2005... The Accountancy Board of Ohio has clarified the accounting and auditing and tax components of the technical education requirements under Ohio law. CPAs who sign an attest report or assume responsibility for a financial reporting engagement...

Accountancy Board rule changes implemented.(Members Only)
January 1, 2005... New rule changes of the Accountancy Board of Ohio, first proposed in April 2004, went into effect Oct. 22, 2004. The changes are primarily technical updates to definitions in the practice standards rules. Significant changes include: *...

Accountancy Board of Ohio disciplinary actions.(Members Only)
January 1, 2005... The following are the disciplinary actions taken by the Accountancy Board of Ohio at its Oct. 29, 2004 Board meeting. This information is current as of press time. NAME BOARD HOMETOWN ...

Sprint Wireless becomes newest member benefit.(Members Only)
January 1, 2005... Ohio Society members and their firms are now eligible for significant discounts on cellular phone service from Sprint Wireless. The Society's member benefits subcommittee has approved an affinity partner relationship with Sprint and MCPc, a...

Ohio Society Leadership represented at national conference.(Members Only)
January 1, 2005... Ohio Society Chair-Elect Janice Culver, CPA and Ohio Society President and CEO Clarke Price recently participated in the 2004 Leadership Conference sponsored by the AICPA and the CPA Society Executives Association. Culver joined incoming...

S corporation reform and simplification under the American Jobs Creation Act of 2004.(Academic Perspectives)
January 1, 2005... Many accountants are calling the American Jobs Creation Act of 2004 (AJCA) the most significant corporate tax law in nearly 20 years. The subtitle of this election year legislation contains provisions that will provide a "kinder and gentler"...

GBQ Partners.(Central)
January 1, 2005... GBQ Partners is on the top 25 list for 2004 Best of the Best.

Shaw & Shaw CPAs.(Worthington)
January 1, 2005... Samuel J. Agresti, CPA and John Waybright, CPA/ABV, CMA, AM have both been appointed as partners at Shaw & Shaw CPAs. [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED]

Brockman, Coats, Gedelian & Co.(Akron)
January 1, 2005... Tomi Brookover has joined Brockman, Coats, Gedelian & Co. as an associate in accounting services. Thomas W. Hastings, CPA has been promoted to senior manager in business assurances, Katherine Juhasz has been promoted to senior associate, and...

Schroedel, Scullin and Bestic, CPAs.(Canfield)
January 1, 2005... John C. Cook, CPA and Denise A. Harlan, CPA have been promoted to principals at Schroedel, Scullin and Bestic, CPAs. Tracie L. Stephens, CPA has also been promoted to supervisor.

Hall, Kistler & Company LLP.(Canton)
January 1, 2005... Dan Hudak and Seth Turner have been named staff accountants at Hall, Kistler & Company LLP.

Howard, Wershbale & Co.(Cleveland)
January 1, 2005... Howard, Wershbale & Co. has won a NorthCoast 99 Award as one of the best places to work in Northeast Ohio.

S & A Consulting Group.(Cleveland)
January 1, 2005... Rita N. Singh, CPA, managing partner of S & A Consulting Group, was honored with the Athena 2004 Award for Cleveland, given by Inside Business magazine.

Skoda, Minotti and Co.(Mayfield Village)
January 1, 2005... Skoda, Minotti and Co. is on the top 25 list for 2004 Best of the Best. Skoda, Minotti and Co. has also been ranked number 303 on the 23rd annual Inc. 500 list of the fastest-growing private companies in the country.

Rea & Associates Inc.(New Philadelphia)
January 1, 2005... Pollianne Truman, CPA has been named project coordinator at Rea & Associates Inc.

CoreFocal, Inc.(Westlake)
January 1, 2005... Lauren B. Wolf, CPA has joined CoreFocal, Inc., in the marketing and sales department.

Rea & Associates.(Wooster)
January 1, 2005... Anne Marie Lester, CPA has joined Rea & Associates as a senior accountant focusing on governmental clients.

Rea & Associates Inc.(Lima)
January 1, 2005... Dennis Gallant, CPA and Mark McKinley, CPA have been promoted to principals at Rea & Associates Inc. [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] Got a promotion? Changed jobs? We want to hear about it! You are going...

Ohio CPA online resource collection.
January 1, 2005... Where can you find an online community with resources tailored to your needs as an Ohio CPA? Like a fine art collection, we've gathered everything you need to excel, and you can find it all in one place at www.ohioscpa.com. The Member...

Gain an edge: educational opportunites.(Calendar)
January 1, 2005... Registration Fees * Member -- This fee applies to Ohio Society members and affiliates, or members of other state societies. * Non-member -- All individuals who qualify for membership in The Ohio Society and choose not to be...