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Opinion

Moving Your Company Online (Part 1)

Electronic commerce has the potential to change your company’s balance sheet dramatically. Think of the possibilities, the sheer numbers of potential customers, when your company’s products and services are accessible at an electronic storefront. You’ll be part of an electronic community, and you’ll be providing one for your clients. You can provide greater customer service, immediate product and account information, ...

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An Auditor's Report Investors Can Trust

In the spring of 2001, I heard a poignant requiem pronounced for the ability of the large accounting firms to survive in their present form. A senior managing partner for one of the now-surviving Big Four firms - a man given to neither overstatement nor irony - said to me, with a father's considerable pride, that he had achieved his wish for his two grown children: that neither was electing to follow his footsteps into public accountancy.

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Writing an Effective Cover Letter

First impressions count. And your cover letter may be the first "first impression" you make on a prospective employer. This is your chance to highlight your qualifications and enthusiasm for the position and, in many ways, can be more important than the resume. In fact, our research has found that a strong cover letter can give job applicants a clear edge over their competition.

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Interviewing Your Interviewer

When preparing for an interview, most applicants practice responses to the questions they think they'll be asked. Perhaps equally important, however, is to prepare questions you plan to ask the interviewer. This is another way to demonstrate your knowledge and enthusiasm for the position, and it will help you decide if the job is right for you.

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Is the Avalanche Headed for PricewaterhouseCoopers?

For Arthur Andersen, the scandal was Enron, and before that, Sunbeam and Waste Management. For KPMG, it was Xerox. Now, PricewaterhouseCoopers has its own client implosion to worry about: Tyco International Ltd. As the remarkable scale of misdoings at Tyco is revealed, the heat is rising for PwC, the firm that signed off on Tyco's financial statements for the past 8 years.

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Five Steps to a Solid Accounting Practice

When I was a consultant a few years ago, it always amazed me how much impressive information a CPA firm had about its clients and customers. Since CPAs had multiple clients and years of experience working with them, my consulting strategy was to talk with a firm’s CPA at the very beginning of any consulting engagement.

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A Process for Understanding a Business and Its Industry

An understanding of a business and its industry is critical for successful accounting and financial operations, including GAAS audits. However, developing and maintaining a thorough understanding of a business and industry can be challenging. Failure to understand and stay abreast of industry developments, moreover, can result in lost opportunities and exposure to financial risk.

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The Preparation of Future Accountants

The age we live in is certainly a dynamic one -- both professional and economic barriers that previously defined the parameters of our profession have changed. Indeed, even the playing field has changed. Where in the past accountants were typically stereotyped as "pencil-necks" and "bean counters," there now exists a whole new depth and breadth to society's perception of what a CPA actually is and his and her role in this new economy.

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Career-Building Ethics – An important issue even before you land your first job

A lot has been happening recently in the accounting world, and much of the turmoil has to do with professional ethics. Companies are taking a long, hard look at their staff members, and experts are suggesting more CPE courses be required in the subject. On-the-job ethics seem to be getting all of the spotlight, but it's important to remember that professional ethics begin long before you ever start your first job.

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The Accounting Process

The accounting process starts with the recording, classifying of data and ends with the reporting of the financial impact of the business transactions. It is considered an art not a science. It is not exact and cannot necessarily mean the same thing to any number of interested individuals or institutions.

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