KEIBA Business Reviews

Archive for the ‘Accounting’ Category

PCAOB

The Public Company Accounting Oversight Board (PCAOB), sometimes referred to as Peekaboo, is a private-sector, nonprofit corporation that was created by the Sarbanes-Oxley Act of 2002. The PCAOB is under the jurisdiction of the SEC (Securities and Exchange Commission). The Sarbanes-Oxley Act and the creation of the PCAOB was a direct result of the accounting fraud scandals of Enron and WorldCom. The purpose of the PCAOB is to oversee auditors of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audited financial statements. This was the first time that public companies were required to have audits on the effectiveness of their internal control over corporate financial reporting. The PCAOB has established auditing, quality control, ethics, and independence standards to be used by registered public accounting firms in the preparation of audited financial statements for publicly traded companies, as required by the Sarbanes-Oxley Act of 2002 and the rules of the Securities and Exchange Commission (SEC).

The Sarbanes-Oxley Act of 2002 requires the PCAOB to: register accounting firms that audit publicly companies,; inspect registered accounting firms and their associated Certified Public Accountants (CPA’s) annually for those whom annually audit over 100 public companies and a minimum of once every three years for those that audit under 100, assess the degree to which the firms comply with the act, the rules of the PCAOB and the SEC, professional standards in connection with the performance and issuance of audited financial statements and attest services; related matters involving public companies, and investigate and discipline any accounting firms and related accountants who are in violation of specific laws or standards. All firms are still required to have peer review of their auditing and accounting practice in order to satisfy the American Institute of Certified Public Accountants (AICPA) membership, federal regulatory (Generally Accepted Auditing Standards) and/or state licensing requirements. There are currently over 2,000 public accounting firms registered with the PCAOB, with more pending registration. A list of current and pending registered firms can be found on the PCAOB website.

The PCAOB currently has pending a requirement that all registered firms submit an annual report on Form 2, provided on the PCAOB website, by June 30th, except for those firms that have been registered between April 1st and June 30th of that year. Also they will be required to pay an annual fee to the PCAOB by July 31st. As these requirements are still pending approval, the annual report and fees are not required for the 2009 calendar year deadlines. In these reports the registered firms must provide various information for the year including: audited financial statement reports issued during the year; disciplinary history of any accountants that joined the firm during the year; a break down of the fees for services provided to all clients during the year, showing the percentage of the fees billed to public audit clients for audit services, other accounting services, tax services, and non-audit services. The PCAOB also requires registered firms to submit special reports on Form 3 within 30 days of the occurrence of the special event. Such special events include change of name or contact information, withdrawal of an audited financial statement by an auditor if the client did not report withdrawal in the 8-K filing with the SEC, and if legal, administrative, or disciplinary action have been taken again the firm or its related accountants. These reports, along with reports from the PCAOB on its inspections of public company audits will be available to the public on their website.

The Public Company Accounting Oversight Board’s goal is to improve the quality of audited financial statements, reduce the risk of auditing failures, and increase public trust in financial reporting processes and of the auditing profession. To do this the PCAOB regularly issues reports detailing its inspections of public company audits. One of their main concerns resulting from their inspections is to refocus and remind auditors of the standards required of them regarding fraud and for them to be diligent about their responsibilities relating to fraud. One of the main purposes of audited financial statements is to detect material misstatements and false or missing information caused by fraud.

Online CPA Course

There are many different career paths that people can take in life. It used to be that people either went to college, learned a trade, or began working in entry level positions and worked their way up. Today, there are many different ways to get to the top of the career ladder, including vocational training and trade programs for a variety of careers that might have previously required an actual college degree or had no real education attached to them. Taking a CPA course will allow you to learn about accounting whether you are just getting started or whether you are brushing up on your knowledge with continuing education courses.

You can get accounting training today, from the comfort of home if you choose through the availability of the online CPA course options that are out there. There are so many different advantages that the internet has brought along, but the ability to learn online at your own pace is probably one of the better ones. You can take courses online in your own time and whenever you can fit them in rather than having to worry about taking CPA courses at someone else’s calling. If you would rather have the experience of classroom training, you can choose that as well. It’s all about finding what works for you.

Finding a CPA course isn’t hard. It doesn’t get difficult until you get to the part where you actually have to choose which course or program is best for your needs. With so many great ones out there to choose from, it’s only a matter of time before you begin to feel overwhelmed with all of your choices. Nothing is more important than getting the best education, though, so please choose wisely. If you’re looking for a new career in these tough economic times, the CPA course can give you exactly what you need much more quickly than a typical college education would. For people who have been laid off and need a new job fast, this is a great way to get it.

You need to pay attention in your CPA course, even if you take it online. There is no limit to what you can do with online courses like this, but you have to be motivated and willing to do whatever it takes to succeed with these programs. Don’t sell yourself short and make sure that you do whatever it takes to make the most of your career, including taking an online CPA course if it is necessary.

Accounting Software

How many ways can you think of for your company to save money, improve efficiency and increase revenue? Accounting software is a key business tool that more often than not is not being utilised to its maximum potential.

The main reason that companies regardless of size introduce accounting software into their business is to make their lives easier. On starting up a very small business you may think that manually controlling your accounts is the easiest option but this can lead to mistakes and end up taking up most of your time, as your business grows so will your accounting needs.

There are several main purposes of accounting software which in summary are to improve processes, increase productivity and ensure compliancy.

With increasing focus being put on compliancy and the ever changing regulations surrounding companies dealing with financial transactions it is now more important than ever to have up to date accounting software. Accounting software can mean the difference between staying on the right side of compliancy or not. In addition accounting software keeps manual data entry to a minimum which in turn reduces mistakes and allows accurate reporting.

The reporting capabilities of good accounting software will allow you to create specific reports and spot key trends and patterns within your cash flow. Being able to see exactly which areas of your business are doing well and where your money is going and coming from will allow you to specifically target key areas. By Targeting key areas you can dramatically increase revenue, cut costs and avoid wasting time on those areas that do not require it.

Accounting software is known to streamline processes and improve efficiency. Making your accounting processes automated will free your staff up to complete less labour intensive and more productive tasks which will also save you money in staffing costs.

Isoft Business solutions are experts in accounting software and eProcurement software with the ability to create and tailorbespoke solutions to suit your individual needs. Whether initially you are looking for a package for a small company or a completely scalable solution, iSoft Business Solutions can help. Take a look at our website for all of the latest information or contact a business solutions expert now for more information.

IDC Solutions

Beyond accounting software, there is frequent need to computerize fund raising functions at nonprofit organizations. Developer of fund accounting software, nonprofit software, and municipal software is the leading fund accounting software company, focusing on the specialized needs of nonprofit organizations, foundations, and governmental agencies. Our Solutions IDC has provided fund accounting software solutions for many nonprofit organizations, government agencies, and public sector organizations.

Providing fund accounting solutions for nonprofit organizations, software solutions and backoffice systems management. Provides fund accounting and fundraising software solutions for nonprofit organizations. You won’t find more affordable evaluating fund accounting software, complete nonprofit software anywhere else. Discussion: Fund accounting software programs are sophisticated software for nonprofits that use/need fund accounting methods. (MIP) delivers premier Windows fund accounting software designed to meet the challenges of nonprofit accounting.

EmpowerFinancials – Custom business accounting software for medium to large businesses and nonprofits, including e-business, financial, distribution, and payroll software packages. In addition, Sage Software provides solutions to meet the specialized needs of accounting practices, construction, distribution, manufacturing, nonprofit, and real estate industries. is the leading fund accounting software company, focusing on the specialized needs of nonprofit organizations, foundations, and governmental agencies. Leverage world-class accounting software solutions customized to fit your Mid-Sized or Nonprofit/Fund company and its ever-changing needs. While nonprofit accounting software is by itself a vertical market, that market is very stratified as well.

Professional software implementation can get your nonprofit’s new accounting system off to a great start, or fix a world of existing software woes. Our implementation and training processes for nonprofit accounting software are designed and built from over 15 years experience. (MIP) delivers premier Windows fund accounting software designed to meet the challenges of nonprofit accounting. At just 9, there’s no other nonprofit accounting software that comes close. Here are the top reasons that you will often want to pass over the low-priced general use systems in favor of nonprofit-specific accounting software. Most nonprofit organizations use some sort of accounting software. That means that nonprofit accounting software users can expect to see lots of features in the next generation of releases. Working together, these two software applications create a comprehensive nonprofit accounting solution.

Providing fund accounting solutions for nonprofit organizations, software solutions and backoffice systems management. For more control, you can use this nonprofit accounting software to monitor financial commitments through integrated encumbrance tracking. Developer of fund accounting software, nonprofit software, and municipal software. Beyond accounting software, there is frequent need to computerize fund raising functions at nonprofit organizations. Our Solutions iDC has provided fund accounting software solutions for many nonprofit organizations, government agencies, and public sector organizations. Inferior accounting software is sometimes able to provide for two but not three labels, and therefore may be unsuitable for nonprofit organizations.