Question:

There’s some sort of accounting glitch that’s resulting in many people’s balances being doubled or in some cases tripled.  Supposedly they’re working on it, just a heads-up to email billing if this hit you. Apparently Live Help is telling people to email support.

At eBay? This was a story about Wal-Mart for charges made on March 31st. http://www.finextra.com/fullstory.asp?id=11578 jim menning

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There’s some sort of accounting glitch that’s resulting in many people’s balances being doubled or in some cases tripled.  Supposedly they’re working on it, just a heads-up to email billing if this hit you. Apparently Live Help is telling people to email support. — "Be advised that although this is actually a live broadcast and is being sent out at this very moment, it is quite possible that it might arrive tomorrow, right now, or perhaps yesterday."

A friend’s bill was doubled to $700 the other day.  She was quite concerned but called (powerseller) and eBay told her it was a glitch, not worry about it.  I suggested she double check the amount automatically withdrawn from her account for her bill though ’cause who knows if the glitch will be fixed by then.  Mine is fine, I still owe the huge sum of $15.  :)  Annette – Hide quoted text — Show quoted text –

Response:

There’s some sort of accounting glitch that’s resulting in many people’s balances being doubled or in some cases tripled.  Supposedly they’re working on it, just a heads-up to email billing if this hit you. Apparently Live Help is telling people to email support. — "Be advised that although this is actually a live broadcast and is being sent out at this very moment, it is quite possible that it might arrive tomorrow, right now, or perhaps yesterday."

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Question:

Ok…here goes… Does anyone know how to start finding clients for bookkeeping?  What the schooling requirements are? And what the going rates are? If it matters or helps I am in Alberta, Canada. Thanks

Response:

Ok…here goes… Does anyone know how to start finding clients for bookkeeping?  What the schooling requirements are? And what the going rates are? If it matters or helps I am in Alberta, Canada. Thanks

If you do not know anything about bookkeeping / accounting you should inquire about taking classes at your local college or business school and possibly get a degree,  then get some practical experience.  After that, worry about "finding clients" and rates !

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Does anyone know how to start finding clients for bookkeeping?

Yes. What the schooling requirements are?

Yes. And what the going rates are?

Yes. Was there something else you needed? — Paul A. Thomas, CPA

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Frankly, the Canadian Institute of Bookkeepers and the other "certified" bookkeeping associations are a "nice to have" but in 6 years I have NEVER seen an employer or potential client requiring a "certified" bookkeeper. However, that does not mean you should not have at the very least introductory and intermediate financial accounting, cost and managerial accounting. Mathematics of finance (quantitative methods) is good to have to understand the time value of money as well. Most people looking for a bookkeeper want one of two things: A) a data entry clerk (enter vendor bills, pay vendor bills, enter customer invoices, receive payments) or B) they want an accountant/controller (albeit junior and without the cost of a CA or CGA) meaning they want someone to run payroll, reconcile accounts, pay GST and PST, pay payroll taxes (EI, CPP, income tax withheld, EHT, WSIB), do month end adjustments for deferred income, prepaid expenses and depreciations. For option A: 2 years of continual experience as either an A/P or A/R clerk, accounting clerk or junior bookkeeper with a full set of books (working with a senior bookkeeper or controller). With option B: definitely at LEAST 4 years of solid full-cycle bookkeeping experience including at least 2 years of doing the monthly stuff mentioned under B including year-end, and WSIB & EHT reconciliations and T4 summaries. Finding clients is another issue all together. Join the local chamber of commerce or board of trade. Call accountants in your area. They often get busy and need someone for relief for data entry, and at tax time. They may take the time to teach you Caseware and ProFile. Call other businesses in your area, they often need help at year-end. Make sure you have at least 2 scripts prepared, one for the voicemail which you will inevitably get, and one for the decision-maker, who you will have to eventually get to. Going rates: depends on what you do. I charge anywhere from $18.00 to $30.00 per hour, depending on the task. Call bookkeeping services in your area, get a list together of the services you plan to offer, and make a survey of the going rates for those services. Just remember, most businesses are pretty cheap. I have been offered $9.00 an hour for what an intermediate accountant would be doing. Other places don’t even blink at $30.00 an hour for training or bank reconciliations. — Stephanie Serba, AICIA Partner, Durham Business Outsource Accounting & Technology www.dbo.ca

– Hide quoted text — Show quoted text – Ok…here goes… Does anyone know how to start finding clients for bookkeeping?  What the schooling requirements are? And what the going rates are? If it matters or helps I am in Alberta, Canada. Thanks

Response:

I do know a fair amount about bookkeeping and accounting, I am an office manager and I do all the books for the company I work for.  What I am wanting to do is to find other bookkeeping clients on the side, and I don’t know how to go about that.  I am also an accounting student so I have some courses and I didn’t know if there were certain requirements that needed to be met, or if it was mainly based on knowledge. That why I was asking what I was.

– Hide quoted text — Show quoted text – Ok…here goes… Does anyone know how to start finding clients for bookkeeping?  What the schooling requirements are? And what the going rates are? If it matters or helps I am in Alberta, Canada. Thanks If you do not know anything about bookkeeping / accounting you should inquire about taking classes at your local college or business school and possibly get a degree,  then get some practical experience.  After that, worry about "finding clients" and rates !

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I do know a fair amount about bookkeeping and accounting, I am an office manager and I do all the books for the company I work for.  What I am wanting to do is to find other bookkeeping clients on the side, and I don’t know how to go about that.  I am also an accounting student so I have some courses and I didn’t know if there were certain requirements that needed to be met, or if it was mainly based on knowledge. That why I was asking what I was.

OK,   —    I think Canada is like the US, you can practice "bookkeeping" without any formal education or knowledge or special certificates, it just helps. Here it also helps to be a CPA and to know income taxes but that’s still no guarantee of getting clients!   I would suggest talking with your instructors at school or calling local accounting firms to inquire about part time positions, also familiarity with quickbooks and peachtree or a similar low-end accounting product is helpful, – Hide quoted text — Show quoted text – Ok…here goes… Does anyone know how to start finding clients for bookkeeping?  What the schooling requirements are? And what the going rates are? If it matters or helps I am in Alberta, Canada. Thanks If you do not know anything about bookkeeping / accounting you should inquire about taking classes at your local college or business school and possibly get a degree,  then get some practical experience.  After that, worry about "finding clients" and rates !

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Thank you for the info….one question though…what is peachtree…I use Quickbooks and Simply but have never heard of peachtree

Peachtree is just another version of keeping books for small companies or sole proprietorships.

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hello! do you speak french?my yes!i am french but i speak english.ok? by by camille – Hide quoted text — Show quoted text – Ok…here goes… Does anyone know how to start finding clients for bookkeeping?  What the schooling requirements are? And what the going rates are? If it matters or helps I am in Alberta, Canada. Thanks

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Thank you for the info….one question though…what is peachtree…I use Quickbooks and Simply but have never heard of peachtree

– Hide quoted text — Show quoted text – I do know a fair amount about bookkeeping and accounting, I am an office manager and I do all the books for the company I work for.  What I am wanting to do is to find other bookkeeping clients on the side, and I don’t know how to go about that.  I am also an accounting student so I have some courses and I didn’t know if there were certain requirements that needed to be met, or if it was mainly based on knowledge. That why I was asking what I was. OK,   —    I think Canada is like the US, you can practice "bookkeeping" without any formal education or knowledge or special certificates, it just helps. Here it also helps to be a CPA and to know income taxes but that’s still no guarantee of getting clients!   I would suggest talking with your instructors at school or calling local accounting firms to inquire about part time positions, also familiarity with quickbooks and peachtree or a similar low-end accounting product is helpful, Ok…here goes… Does anyone know how to start finding clients for bookkeeping?  What the schooling requirements are? And what the going rates are? If it matters or helps I am in Alberta, Canada. Thanks If you do not know anything about bookkeeping / accounting you should inquire about taking classes at your local college or business school and possibly get a degree,  then get some practical experience.  After that, worry about "finding clients" and rates !

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What are the basic requirements in the US? Is it the same as UK – Sales/Purchase Day Books and a Cash Book. Do you have the equivalent of VAT and if so what needs to go on the form.

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What are the basic requirements in the US? Is it the same as UK – Sales/Purchase Day Books and a Cash Book. Do you have the equivalent of VAT and if so what needs to go on the form.

I see no one has responded to you.  The journals you would keep depend on your type of business.  _Most_ folks that I know of use a computer-based accounting system in lieu of manual books. I have never  actually seen a cash book (I am in Houston, Texas), the general ledger shows the activity.  To the extent there are payables or receivables one might keep a subsidiary ledger for that. There is no VAT in the U.S. nor is there a national sales tax. There are state sales taxes, the sales tax is meant to be assessed on the end user.  For example if you are a jewelry store, you’d buy diamonds and produce an exemption certificate to your vendor, you don’t pay sales tax, then you assess and remit the tax when you sell it to your customer.  This as opposed to VAT which is assessed at each point, and you pay tax on the incremental value you add, afaik.  You need to check with the state in which you plan to do business because the specific rules can be complicated.  AICPA.org has links to all the states. There’s also federal income tax and state income and/or franchise tax depending on the state.  Also in some states you are required to be authorized to do business there, again you need to check with the individual state.  The relevant agencies would be secretary of state and comptroller of public accounts, or something similar. — sarah clark I am aware that the conclusions arrived at in this work will be denounced by some as highly irreligious; but he who denounces them is bound to shew why it is more irreligious to explain the origin of man as a distinct species by descent from some lower form, through the laws of variation and natural selection, than to explain the birth of the individual through the laws of ordinary reproduction. —Charles Darwin

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The driving time issues is important.  Because that limits the number of calls per day.  I find one in the morning and one in the afternoon is about it. As to fixed bids.  I started out that way but am really trying to get out of it.  I don’t do bookkeeping, I’m in accounting software support.  But the issue I get of one more short question please is one you’ll probably have to deal with.  Those questions have to become billable change orders or you’ll end up working for under minimum wage. I’ll warn you of one other problem that I ran into.  Picked up a large customer who basically paid the bills.  That let me be real nice to my small customers. Looking back on it I realise that wasn’t quite fair.  More important when mr. big went out of business I had a lot of customers who expected something for nothing. Bill Couture http:\www.sbtbill.com

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Do a telephone survey of what bookkeepers in your area charge.  I prefer to charge by the hour, because a lot of jobs keep adding bits on as I go; that way the longer they keep me, the more they pay.  The number of clients you can fit into a work week will vary with what folks want done.  Keep in mind you can’t realistically bill for 40 hours a week. You need time to do your _own_ bookkeeping, chase down those who are late paying, and set up new stuff for the coming week/month.  As for drive time; you need to decide how much of it you’re willing to do for free.  I don’t charge for drive time if one-way is about a half-hour or less.  Else, I charge for time in excess of 20 minutes each way. Otherwise, it’d be better for me to get another client closer to my location so I can bill for my time there. Don’t undercharge — many people do when they’re starting out.  And keep on top of your billings.  I have a Net 7 policy and stick with it pretty much with all clients.  No new work until I’ve been paid for past-due net 7 billings. Good luck! Catherine – Hide quoted text — Show quoted text – Hi all I am new to the group and would like to ask some opinions please. I am thinking of starting a small mobile bookkeeping business in Australia. What sort of rates can you charge for these services and is it more beneficial to charge by the hour or by the task? Also being realistic how many clients can you fit into an average working week? — Michael Smedley

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Hi all I am new to the group and would like to ask some opinions please. I am thinking of starting a small mobile bookkeeping business in Australia. What sort of rates can you charge for these services and is it more beneficial to charge by the hour or by the task? Also being realistic how many clients can you fit into an average working week? — Michael Smedley

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I am thinking of starting a small mobile bookkeeping business in Australia. What sort of rates can you charge for these services and is it more beneficial to charge by the hour or by the task?

The fee is going to depend entirely on what services the client wants.  My fees for preparing quarterly financial statements is about three times the amount for preparing a monthly statemen (figure that one out).  Payroll services are priced on the number of employees and the frequency of the payroll. In the end, whether or not you set some "fixed" fee or charge by the hour, it’s all based on the amount of time you expect to (or actually) spend providing the services and the skill level necessary to provide the services. Also being realistic how many clients can you fit into an average working week?

Well, in a mobile business, the drive time can kill your working time. But even in a fixed location business, it’s going to depend on what the clients want.  You’ll determine if you have additional time available, and if you want to, or needs to, add more clients or "trim the branches" from time to time. — Paul A. Thomas, CPA Athens,  Georgia

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Depending on the task, I charge between $18 and $40 an hour. For basic data entry, $18.00 to $25.00. For bank reconciliations, government remittances, payroll, year-end preparation, T4’s, and training $40.00 an hour. Set your rates according to the level of complexity, skill and experience level involved, and what the current market is like. I work for 1 accountant that bills out his services doing bookkeeping at $75.00 an hour, and another that charges only $40.00. Do some market research, call up accountants and bookkeeping services in your area. Temp agencies that provide bookkeepers and accountants. — Stephanie Serba, AICIA Partner, Durham Business Outsource Accounting & Technology www.dbo.ca

– Hide quoted text — Show quoted text – Hi all I am new to the group and would like to ask some opinions please. I am thinking of starting a small mobile bookkeeping business in Australia. What sort of rates can you charge for these services and is it more beneficial to charge by the hour or by the task? Also being realistic how many clients can you fit into an average working week? — Michael Smedley

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Question:

I have a small computer consulting company (systems installations, database systems, and websites), we are three in the company. It is not an incorporated company (we’re in Quebec, Canada). Can i lease a car and put the whole amount as an expense when the company already has a leased car as an expense? My brother has the least car and he lives at his home, whereas me i live in another home. We both travel and meet clients etc… Can i add a 2nd leased car as an expense? Thank you

Response:

You can. Keep detailed records of how many kilometres are driven for business and the total number of kilometres driven. If you use the Statement of Business Activities form (T2124) it has a section on leased vehicles and prorata vehicle expenses (based on mileage). Go to the CCRA website and download a PDF copy of the guide book for Business and Professional income. The book will explain how to expense lease fees and car expenses in detail. — Stephanie Serba, AICIA Partner, Durham Business Outsource Accounting & Technology www.dbo.ca

– Hide quoted text — Show quoted text – I have a small computer consulting company (systems installations, database systems, and websites), we are three in the company. It is not an incorporated company (we’re in Quebec, Canada). Can i lease a car and put the whole amount as an expense when the company already has a leased car as an expense? My brother has the least car and he lives at his home, whereas me i live in another home. We both travel and meet clients etc… Can i add a 2nd leased car as an expense? Thank you

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Thank you Stephanie, i got the file: http://www.ccra-adrc.gc.ca/E/pub/tg/t4002/t4002-02e.pdf I will read it. Thanks again

– Hide quoted text — Show quoted text – You can. Keep detailed records of how many kilometres are driven for business and the total number of kilometres driven. If you use the Statement of Business Activities form (T2124) it has a section on leased vehicles and prorata vehicle expenses (based on mileage). Go to the CCRA website and download a PDF copy of the guide book for Business and Professional income. The book will explain how to expense lease fees and car expenses in detail. — Stephanie Serba, AICIA Partner, Durham Business Outsource Accounting & Technology www.dbo.ca I have a small computer consulting company (systems installations, database systems, and websites), we are three in the company. It is not an incorporated company (we’re in Quebec, Canada). Can i lease a car and put the whole amount as an expense when the company already has a leased car as an expense? My brother has the least car and he lives at his home, whereas me i live in another home. We both travel and meet clients etc… Can i add a 2nd leased car as an expense? Thank you

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Question:

Well its about time. Now if the Boards of Accountancy of the 50 states would stop enforcing the pronouncements from these private, big-money groups (AICPA and FASB) as if they were law of the land, we’d be in better shape, Todd Boyle CPA – Kirkland WA – www.gldialtone.com/FinancialDeregulation.htm Reply-To: Accounting Education using Computers and Multimedia 1. SEC Rebukes AICPA on Standards-Setting Posture * * * * * * * * * * * * * * * * * * * The SEC wants the AICPA to know, in no uncertain terms, who’s in charge of standard setting. Following the release last week of an AICPA exposure draft on internal control reporting, the SEC expressed strong concerns that the AICPA is creating the perception that they are more involved in the standard setting process than they really are. http://www.accountingweb.com/item/97327 AECM Home Page (Subscription info., etc.): http://pacioli.loyola.edu/aecm AECM Archives: http://listserv.loyola.edu/archives/aecm.html

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Assume you are addressing that it’s about time that someone stood up to the AICPA and FASB. As I read the link you included, the SEC was telling the AICPA that they were now in charge of setting standards and procedures. While I do not agree with the AICPA all the time, I am bothered that a governmental body now is in charge. Things will not improve, it will get worse and in time affect private companies also. I do not know the real answer, however there needs to be some "rules" to follow. Your link to the petition suggests that there need to be rules. Who should set?

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Assume you are addressing that it’s about time that someone stood up to the AICPA and FASB. As I read the link you included, the SEC was telling the AICPA that they were now in charge of setting standards and procedures. While I do not agree with the AICPA all the time, I am bothered that a governmental body now is in charge. Things will not improve, it will get worse and in time affect private companies also. I do not know the real answer, however there needs to be some "rules" to follow. Your link to the petition suggests that there need to be rules. Who should set?

There is no doubt, under present law:  The SEC. If you haven’t already, I would suggest that you read the letter at: http://www.sec.gov/info/accountants/staffletters/aicpa031803.htm Jim Hudspeth, CPA

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– Hide quoted text — Show quoted text – Assume you are addressing that it’s about time that someone stood up to the AICPA and FASB. As I read the link you included, the SEC was telling the AICPA that they were now in charge of setting standards and procedures. While I do not agree with the AICPA all the time, I am bothered that a governmental body now is in charge. Things will not improve, it will get worse and in time affect private companies also. I do not know the real answer, however there needs to be some "rules" to follow. Your link to the petition suggests that there need to be rules. Who should set? There is no doubt, under present law:  The SEC. If you haven’t already, I would suggest that you read the letter at: http://www.sec.gov/info/accountants/staffletters/aicpa031803.htm Jim Hudspeth, CPA

Perhaps – at long last – the SEC will begin to turn US GAAP into something else than a money making machine for the AICPA (and its extension the Big X).  Obviously the first step is to remove the AICPA from power. Carrying this process through, however, may scarcely be easier than the parallel process currently initialized in the middle east. A. Lucien Meyers, CIA, CMA — If you receive this by error, please delete it and inform the sender. PGP key fingerprint=F1C0 D9AE 1B18 1405 4DFA  B4CC 6DC7 FF78 C76E FB15 To Big Brother Echelon from "spook": Khatami Kabul domestic disruption Honduras Libya FSF Soviet Peking radar

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Perhaps – at long last – the SEC will begin to turn US GAAP into something else than a money making machine for the AICPA (and its extension the Big X).  Obviously the first step is to remove the AICPA from power. Carrying this process through, however, may scarcely be easier than the parallel process currently initialized in the middle east. A. Lucien Meyers, CIA, CMA

I agree with you, and I applaud the move of the SEC taking total ownership of financial reporting for public companies.  I really don’t see the purpose of the AICPA issuing guidance on matters that are enforced by the SEC.  They are just muddying the water.     The one problem is that privately held companies are not under the jurisdiction of the SEC.  

Response:

Perhaps – at long last – the SEC will begin to turn US GAAP into something else than a money making machine for the AICPA (and its extension the Big X).  Obviously the first step is to remove the AICPA from power. The one problem is that privately held companies are not under the jurisdiction of the SEC.

Where is the problem? Jim Hudspeth

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The one problem is that privately held companies are not under the jurisdiction of the SEC. Where is the problem? Jim Hudspeth

The SEC is more focused on disclosure requirements and GAAP reporting in the large company, public reporting environment.  Many of the pronouncements are not applicable or necessary for financial reporting in a small, privately held company environment. I know the idea of "small company GAAP" has been mentioned on this board a few times.  I don’t think that putting the SEC as the sole arbitrator of GAAP would necessarily move the profession towards that direction.   I do agree that it would be better than the current system, however.    

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The one problem is that privately held companies are not under the jurisdiction of the SEC. Where is the problem? Jim Hudspeth The SEC is more focused on disclosure requirements and GAAP reporting in the large company, public reporting environment.  Many of the pronouncements are not applicable or necessary for financial reporting in a small, privately held company environment.

I agree. I know the idea of "small company GAAP" has been mentioned on this board a few times.  I don’t think that putting the SEC as the sole arbitrator of GAAP would necessarily move the profession towards that direction.

I agree here also. I do agree that it would be better than the current system, however.

At this point I think I will probably live long enough to see "Big GAAP" / "Little GAAP".  If the states don’t step up to the plate regarding "Little GAAP" the SBA might.   I don’t think the SEC will attempt to regulate small companies.   Jim Hudspeth

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- Hide quoted text — Show quoted text – Assume you are addressing that it’s about time that someone stood up to the AICPA and FASB. As I read the link you included, the SEC was telling the AICPA that they were now in charge of setting standards and procedures. While I do not agree with the AICPA all the time, I am bothered that a governmental body now is in charge. Things will not improve, it will get worse and in time affect private companies also. I do not know the real answer, however there needs to be some "rules" to follow. Your link to the petition suggests that there need to be rules. Who should set? There is no doubt, under present law:  The SEC. If you haven’t already, I would suggest that you read the letter at: http://www.sec.gov/info/accountants/staffletters/aicpa031803.htm Jim Hudspeth, CPA Perhaps – at long last – the SEC will begin to turn US GAAP into something else than a money making machine for the AICPA (and its extension the Big X).  Obviously the first step is to remove the AICPA from power.

I would assume, based on past history, they will change it into a money making scheme for the US Treasury and securities lawyers. Think of it, US GAAP backed up with the full force of the United States Justice Department, the United States Army and Navy, and the Central Intelligence Agency.  That ought to make you feel all warm an fuzzy at night. — *             Ronald Lee Todd M.B.A., C.P.A.                  * * Unemployed for seven years, mistake of being an accountant. * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

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- Hide quoted text — Show quoted text – The one problem is that privately held companies are not under the jurisdiction of the SEC. Where is the problem? Jim Hudspeth The SEC is more focused on disclosure requirements and GAAP reporting in the large company, public reporting environment.  Many of the pronouncements are not applicable or necessary for financial reporting in a small, privately held company environment. I agree. I know the idea of "small company GAAP" has been mentioned on this board a few times.  I don’t think that putting the SEC as the sole arbitrator of GAAP would necessarily move the profession towards that direction. I agree here also. I do agree that it would be better than the current system, however. At this point I think I will probably live long enough to see "Big GAAP" / "Little GAAP".  If the states don’t step up to the plate regarding "Little GAAP" the SBA might. I don’t think the SEC will attempt to regulate small companies.

The same way the Treasury exempts small companies from tax compliance I wager. — *             Ronald Lee Todd M.B.A., C.P.A.                  * * Unemployed for seven years, mistake of being an accountant. * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

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I don’t think the SEC will attempt to regulate small companies. The same way the Treasury exempts small companies from tax compliance I wager.

Ron, You are trying to be cute.  Unfortunately, "exemptions" are far more common than you might realize. Jim

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- Hide quoted text — Show quoted text – I don’t think the SEC will attempt to regulate small companies. The same way the Treasury exempts small companies from tax compliance I wager. Ron, You are trying to be cute.  Unfortunately, "exemptions" are far more common than you might realize. Jim

Yes, but such exemptions are political.  I doubt that the SEC would be politically motivated to exempting anyone because of size unless it became a situations were the requirements could be judicially determined has unbearable. What people think the motivations behind this S-O is and what it really is are not the same thing. — *             Ronald Lee Todd M.B.A., C.P.A.                  * * Unemployed for seven years, mistake of being an accountant. * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

Response:

Yes, but such exemptions are political.

The "exemptions" I’m referring to are "political" only in the vaguest sense of the term.  I’m referring to "exemptions" people create for themselves without benefit of formal politics. I doubt that the SEC would be politically motivated to exempting anyone because of size unless it became a situations were the requirements could be judicially determined has unbearable.

I highly doubt the SEC will be motivated to take on the task of regulating small business.  They have their plate full with big business. What people think the motivations behind this S-O is and what it really is are not the same thing.

I do not disagree, however I have no idea what you are talking about either. Jim

Response:

Yes, but such exemptions are political. The "exemptions" I’m referring to are "political" only in the vaguest sense of the term.  I’m referring to "exemptions" people create for themselves without benefit of formal politics.

When it comes to Federal regulation the only exemption that a person can unilaterally create is through non participation in the regulated area. If they want to pay, they have to play under the rules. I doubt that the SEC would be politically motivated to exempting anyone because of size unless it became a situations were the requirements could be judicially determined has unbearable. I highly doubt the SEC will be motivated to take on the task of regulating small business.  They have their plate full with big business.

I think that history clearly shows that the extension of regulation has been down from the top towards the bottom.  The motivation of the folks who design these laws is clearly aimed at being all encompassing and eventually ending at the bottom end.  You only have to look at the Alternative Minimum Tax, originally sold "to make the rich pay their fair share" which over the years has clearly covered a larger percentage of the tax paying public.  Notice that the people who support control also fight indexing. What people think the motivations behind this S-O is and what it really is are not the same thing. I do not disagree, however I have no idea what you are talking about either.

Sarbanes Oxley was designed to open the door and create a new controlling instrument.  The motivation had nothing to do with the solving of the ethics problem in public accountancy or corporate America.  It is to create more control and more opportunity for lawyers an bureaucrats. Jim

– *             Ronald Lee Todd M.B.A., C.P.A.                  * * Unemployed for seven years, mistake of being an accountant. * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

Response:

I noticed that SEC was just exempted from Federal Merit hiring procedures (a really hot Clinton Administration initiative) to fill the new hires for the Enron, Global Crossing, etc.  fall out. If you understand what the objective was of merit hiring you will understand why this confirms my position on Sarbanes Oxlery and all of the other Congressional – SEC machinations. — *             Ronald Lee Todd M.B.A., C.P.A.                  * * Unemployed for seven years, mistake of being an accountant. * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

Response:

Question:

Is it really necessary to post his speech? Lush Is it really necessary for you to reply?

  Is it really necessary for you to reply to his reply? – Hide quoted text — Show quoted text – -=Chive The only good is knowledge and the only evil is ignorance. – Socrates (B.C.469-399)

Response:

- Hide quoted text — Show quoted text – Is it really necessary to post his speech? Lush Is it really necessary for you to reply?   Is it really necessary for you to reply to his reply? -=Chive The only good is knowledge and the only evil is ignorance. – Socrates (B.C.469-399)

But Socrates was put to death for being a smart ass.

Response:

Don’t speak back to your betters. Lush

– Hide quoted text — Show quoted text – Is it really necessary to post his speech? Lush Is it really necessary for you to reply? -=Chive The only good is knowledge and the only evil is ignorance. – Socrates (B.C.469-399)

Response:

Is it really necessary to post his speech? Lush

Response:

It may be fun to laugh at, I’m sure there are a lot of spelling corrections that need to be made. —    One of us is thinking about sex…..oh okay it’s me.                              Makara

– Hide quoted text — Show quoted text – Is it really necessary to post his speech? Lush

Response:

LOL Good point, honey! Lush

– Hide quoted text — Show quoted text – It may be fun to laugh at, I’m sure there are a lot of spelling corrections that need to be made. —    One of us is thinking about sex…..oh okay it’s me.                              Makara Is it really necessary to post his speech? Lush

Response:

Is it really necessary to post his speech? Lush

Is it really necessary for you to reply? -=Chive The only good is knowledge and the only evil is ignorance. – Socrates (B.C.469-399)

Response:

chive you should be moist – he wants to kill arabs! – Hide quoted text — Show quoted text – September 13, 2002 Text of Bush’s speech to the U.N.    A text of President Bush’s speech to the United Nations on Thursday, as released by the White House:    Mr. Secretary-General, Mr. President, distinguished ladies and gentlemen: We meet one year and one day after a terrorist attack brought grief to my country, and to the citizens of many countries. Yesterday, we remembered the innocent lives taken that terrible morning. Today, we turn to the urgent duty of protecting other lives, without illusion and without fear.    We have accomplished much in the last year

Question:

- Hide quoted text — Show quoted text – Bush’s Enron Ties Edward B. Winslow, AlterNet January 2, 2002 Almost 30 years have elapsed since the "third rate burglary" of the Democratic National Committee headquarters on June 17, 1972 that opened the dam of the Watergate scandal. The press and members of Congress largely ignored the crime, as then President Richard M. Nixon kept the nation’s focus on the war in Vietnam. Similarly, with the press and Congress distracted by President George W. Bush’s war in Afghanistan, they are ignoring another scandal. No third rate burglary, the Enron Corp. scandal involves millions of dollars in campaign contributions to Bush, U.S. Sen. Phil Gramm and other members of Congress. The cozy relationship between the Bush White House and Enron enabled Kenneth L. Lay, then Enron’s CEO, to meet in secret with Vice President Richard Cheney to help mold the nation’s energy policy. Bush’s presidential campaign received $1.14 million from Enron. Shortly after taking office, President Bush waged a battle against the imposition of federal price controls in California that allowed Enron to price-gouge consumers by extending the energy crisis in California, costing the state billions of dollars. Enron reported increased revenues of almost $70 billion from the previous year. Bush also resisted attempts to crack down on Enron’s utilization of its 2,830 offshore subsidiaries in countries with lax banking-regulation laws. The consumer-rights watchdog organization Public Citizen alleges that some of these offshore havens helped Enron defraud its stockholders. Moreover, while Sen. Gramm was working the Congress to pass legislation favorable to Enron (and collecting nearly $260,000 in campaign contributions from the company), his wife Wendy Gramm first was chairperson of a regulatory committee overseeing Enron’s business activities and later a paid member of that company’s board of directors. Enron paid her between $915,000 and $1.85 million, according Public Citizen. Sen. Gramm has announced his decision not to seek reelection for another term in the senate. Enron, whose stock price plummeted from almost $85 per share to $0.25 per share within one year, forced its employees to invest their retirement plans in the company stock while corporate executives were free to make out like bandits by selling their stock when it was near its peak before anyone caught wind of the company’s impending collapse. Jeffrey K. Skilling, who resigned his position as Enron’s chief executive in August, sold more than $30 million worth of his stock in the company this year. Lay, who was Skilling’s predecessor, was able to unload about $23 million worth of his Enron stock. Meanwhile, employees, who invested in Enron stock through their company’s 401(k) plan, were prohibited in diversifying into other securities. They lost their shirts while 500 of the company’s top executives divided up $55 million worth of bonuses. The remaining 20,000 employees were given severance packages of not more than $4,500 each. Eventually, during the Watergate scandal, members of Congress began to take a closer look at what first appeared to be an event that was unrelated to the White House. Armed with much more evidence of a White House conflict of interest than Watergate, Rep. Henry A. Waxman (D-Calif.) has opened a Congressional investigation on the Enron matter. In a letter dated Dec. 4, 2001 to Vice President Cheney, Waxman expresses concern about the administration’s secret meetings with Lay and the company’s subsequent failure. Waxman also mentions "the fact that senior Enron executives were enriching themselves at the same time that Enron was lavishing large campaign contributions on President Bush and the Republican Party and apparently influencing the administration’s energy policies." Public Citizen urged Congress to bring Sen. Gramm and Wendy Gramm along with Secretary of the Treasury Paul O’Neill to give sworn testimony about what they know about possible accounting fraud and the use of offshore tax and bank regulation havens. The consumer-rights organization also called for President Bush, Vice President Cheney and political adviser Karl Rove to answer questions about whether discussions involving energy price controls, energy regulations or tax havens took place with Enron executives. Specifically, what investigators need to determine is who knew what and when did they know it? As Waxman wrote in his letter to the vice president, "It is appropriate to ask whether Enron communicated to (Cheney) or others affiliated with (his) task force information about its precarious financial position. This is especially important since this information was apparently hidden from investors and the public…."

This might be more fun that Whitewater–an investigation where millions were spent to find out in the end that Monica Lewinski performed oral sex sloppily. Why has a special prosecutor not been appointed? Congress would have drooled at such interlocks in a scandal involving the Clintons Brightest Blessings; Caillean `aSiobhan, Lady Carrigaholt

Response:

Off topic crap. – Hide quoted text — Show quoted text – Bush’s Enron Ties Edward B. Winslow, AlterNet January 2, 2002 Almost 30 years have elapsed since the "third rate burglary" of the Democratic National Committee headquarters on June 17, 1972 that opened the dam of the Watergate scandal. The press and members of Congress largely ignored the crime, as then President Richard M. Nixon kept the nation’s focus on the war in Vietnam. Similarly, with the press and Congress distracted by President George W. Bush’s war in Afghanistan, they are ignoring another scandal. No third rate burglary, the Enron Corp. scandal involves millions of dollars in campaign contributions to Bush, U.S. Sen. Phil Gramm and other members of Congress. The cozy relationship between the Bush White House and Enron enabled Kenneth L. Lay, then Enron’s CEO, to meet in secret with Vice President Richard Cheney to help mold the nation’s energy policy. Bush’s presidential campaign received $1.14 million from Enron. Shortly after taking office, President Bush waged a battle against the imposition of federal price controls in California that allowed Enron to price-gouge consumers by extending the energy crisis in California, costing the state billions of dollars. Enron reported increased revenues of almost $70 billion from the previous year. Bush also resisted attempts to crack down on Enron’s utilization of its 2,830 offshore subsidiaries in countries with lax banking-regulation laws. The consumer-rights watchdog organization Public Citizen alleges that some of these offshore havens helped Enron defraud its stockholders. Moreover, while Sen. Gramm was working the Congress to pass legislation favorable to Enron (and collecting nearly $260,000 in campaign contributions from the company), his wife Wendy Gramm first was chairperson of a regulatory committee overseeing Enron’s business activities and later a paid member of that company’s board of directors. Enron paid her between $915,000 and $1.85 million, according Public Citizen. Sen. Gramm has announced his decision not to seek reelection for another term in the senate. Enron, whose stock price plummeted from almost $85 per share to $0.25 per share within one year, forced its employees to invest their retirement plans in the company stock while corporate executives were free to make out like bandits by selling their stock when it was near its peak before anyone caught wind of the company’s impending collapse. Jeffrey K. Skilling, who resigned his position as Enron’s chief executive in August, sold more than $30 million worth of his stock in the company this year. Lay, who was Skilling’s predecessor, was able to unload about $23 million worth of his Enron stock. Meanwhile, employees, who invested in Enron stock through their company’s 401(k) plan, were prohibited in diversifying into other securities. They lost their shirts while 500 of the company’s top executives divided up $55 million worth of bonuses. The remaining 20,000 employees were given severance packages of not more than $4,500 each. Eventually, during the Watergate scandal, members of Congress began to take a closer look at what first appeared to be an event that was unrelated to the White House. Armed with much more evidence of a White House conflict of interest than Watergate, Rep. Henry A. Waxman (D-Calif.) has opened a Congressional investigation on the Enron matter. In a letter dated Dec. 4, 2001 to Vice President Cheney, Waxman expresses concern about the administration’s secret meetings with Lay and the company’s subsequent failure.   Waxman also mentions "the fact that senior Enron executives were enriching themselves at the same time that Enron was lavishing large campaign contributions on President Bush and the Republican Party and apparently influencing the administration’s energy policies." Public Citizen urged Congress to bring Sen. Gramm and Wendy Gramm along with Secretary of the Treasury Paul O’Neill to give sworn testimony about what they know about possible accounting fraud and the use of offshore tax and bank regulation havens. The consumer-rights organization also called for President Bush, Vice President Cheney and political adviser Karl Rove to answer questions about whether discussions involving energy price controls, energy regulations or tax havens took place with Enron executives. Specifically, what investigators need to determine is who knew what and when did they know it? As Waxman wrote in his letter to the vice president, "It is appropriate to ask whether Enron communicated to (Cheney) or others affiliated with (his) task force information about its precarious financial position. This is especially important since this information was apparently hidden from investors and the public…."

Response:

Bush’s Enron Ties Edward B. Winslow, AlterNet January 2, 2002 Almost 30 years have elapsed since the "third rate burglary" of the Democratic National Committee headquarters on June 17, 1972 that opened the dam of the Watergate scandal. The press and members of Congress largely ignored the crime, as then President Richard M. Nixon kept the nation’s focus on the war in Vietnam. Similarly, with the press and Congress distracted by President George W. Bush’s war in Afghanistan, they are ignoring another scandal. No third rate burglary, the Enron Corp. scandal involves millions of dollars in campaign contributions to Bush, U.S. Sen. Phil Gramm and other members of Congress. The cozy relationship between the Bush White House and Enron enabled Kenneth L. Lay, then Enron’s CEO, to meet in secret with Vice President Richard Cheney to help mold the nation’s energy policy. Bush’s presidential campaign received $1.14 million from Enron. Shortly after taking office, President Bush waged a battle against the imposition of federal price controls in California that allowed Enron to price-gouge consumers by extending the energy crisis in California, costing the state billions of dollars. Enron reported increased revenues of almost $70 billion from the previous year. Bush also resisted attempts to crack down on Enron’s utilization of its 2,830 offshore subsidiaries in countries with lax banking-regulation laws. The consumer-rights watchdog organization Public Citizen alleges that some of these offshore havens helped Enron defraud its stockholders. Moreover, while Sen. Gramm was working the Congress to pass legislation favorable to Enron (and collecting nearly $260,000 in campaign contributions from the company), his wife Wendy Gramm first was chairperson of a regulatory committee overseeing Enron’s business activities and later a paid member of that company’s board of directors. Enron paid her between $915,000 and $1.85 million, according Public Citizen. Sen. Gramm has announced his decision not to seek reelection for another term in the senate. Enron, whose stock price plummeted from almost $85 per share to $0.25 per share within one year, forced its employees to invest their retirement plans in the company stock while corporate executives were free to make out like bandits by selling their stock when it was near its peak before anyone caught wind of the company’s impending collapse. Jeffrey K. Skilling, who resigned his position as Enron’s chief executive in August, sold more than $30 million worth of his stock in the company this year. Lay, who was Skilling’s predecessor, was able to unload about $23 million worth of his Enron stock. Meanwhile, employees, who invested in Enron stock through their company’s 401(k) plan, were prohibited in diversifying into other securities. They lost their shirts while 500 of the company’s top executives divided up $55 million worth of bonuses. The remaining 20,000 employees were given severance packages of not more than $4,500 each. Eventually, during the Watergate scandal, members of Congress began to take a closer look at what first appeared to be an event that was unrelated to the White House. Armed with much more evidence of a White House conflict of interest than Watergate, Rep. Henry A. Waxman (D-Calif.) has opened a Congressional investigation on the Enron matter. In a letter dated Dec. 4, 2001 to Vice President Cheney, Waxman expresses concern about the administration’s secret meetings with Lay and the company’s subsequent failure.   Waxman also mentions "the fact that senior Enron executives were enriching themselves at the same time that Enron was lavishing large campaign contributions on President Bush and the Republican Party and apparently influencing the administration’s energy policies." Public Citizen urged Congress to bring Sen. Gramm and Wendy Gramm along with Secretary of the Treasury Paul O’Neill to give sworn testimony about what they know about possible accounting fraud and the use of offshore tax and bank regulation havens. The consumer-rights organization also called for President Bush, Vice President Cheney and political adviser Karl Rove to answer questions about whether discussions involving energy price controls, energy regulations or tax havens took place with Enron executives. Specifically, what investigators need to determine is who knew what and when did they know it? As Waxman wrote in his letter to the vice president, "It is appropriate to ask whether Enron communicated to (Cheney) or others affiliated with (his) task force information about its precarious financial position. This is especially important since this information was apparently hidden from investors and the public…."

Response:

Question:

Writing down the value of the airplanes is only that – it doesn’t necessarily mean they’re dumping them.  Apparently they are carrying them on their books at values which are higher than they actually are worth.  I guess the feeling is that if they are already having a major loss this year, they might as well take the extra hit in the hope that it positions them better in the future.

Doesn’t the New York Stock Exchange de-list a company that has "n" successive losing quarters [years?] ?  A strong incentive to lump everything into one bad year.

Response:

BTW, US’s MD80’s are the oldest ones flying – they were acquired with the PSA merger, and PSA was the launch customer for them, so these planes are probably pushing 20 years old.

Pushing from the other side ! The oldest dates from 1980, and most are of 1980-82 vintage except for a couple of follow-ons added in 1986. B.

Response:

BTW, US’s MD80’s are the oldest ones flying – they were acquired with the PSA merger, and PSA was the launch customer for them, so these planes are probably pushing 20 years old.

Yes and no.  US’s MD-80s are AMONG the oldest ones flying, as PSA was not the launch customer–Swissair was. But, they were one of the first, and at least a half-dozen of the remaining US MD-80 fleet have already passed their 20th birthday.  The four oldest were manufactured in 1980, with 11 more from 1981.

Response:

A news report about US Airways annoucing a big time loss says: "The carrier said Friday it would lose more than $160 million before items and that it expects to record a charge of $405 million to write down its fleet of Fokker 100, Boeing 737-200, and MD-80 aircraft and certain related assets." Now, what kinds of expenses are associated with the letting go of aircraft? What on earth is US going to be left with if it is ridding itself of the above quoted aircraft? Does it already have enough Airbusses to cover for these? I know it also leases out its old 732s to the likes of Canjet (C3)… so is it ridding itself of these(and essentially its leasing division?)?

"Writing down" assets is merely an accounting procedure and does NOT necessarily mean that the above aircraft types are going to be parked tomorrow. While US’s long-term fleet plan does call for all three types to be phased out, they will each be around for at least another couple of years.  I would guess that the -200s and the MDs will go before the li’l Fokkers. As far as what specific costs are associated with this accounting procedure, well, hey, I’m no accountant!

Response:

items and that it expects to record a charge of $405 million to write down its fleet of Fokker 100, Boeing 737-200, and MD-80 aircraft and certain related assets." Now, what kinds of expenses are associated with the letting go of aircraft?

Writing off doesn’t mean letting go. It just means that the airline no longer considers these to have any resale value if I understand correctly. But they can continue to use them, just like Air Canada continues to use its old DC-9s. It is more of a tax / profits technique. I suspect that they are doing this to cook their books as a result of the UA-merger thing.

Response:

A news report about US Airways annoucing a big time loss says: "The carrier said Friday it would lose more than $160 million before items and that it expects to record a charge of $405 million to write down its fleet of Fokker 100, Boeing 737-200, and MD-80 aircraft and certain related assets." Now, what kinds of expenses are associated with the letting go of aircraft? What on earth is US going to be left with if it is ridding itself of the above quoted aircraft? Does it already have enough Airbusses to cover for these? I know it also leases out its old 732s to the likes of Canjet (C3)… so is it ridding itself of these(and essentially its leasing division?)? — Amish Vancouver BC

Response:

A news report about US Airways annoucing a big time loss says: "The carrier said Friday it would lose more than $160 million before items and that it expects to record a charge of $405 million to write down its fleet of Fokker 100, Boeing 737-200, and MD-80 aircraft and certain related assets." Now, what kinds of expenses are associated with the letting go of aircraft? What on earth is US going to be left with if it is ridding itself of the above quoted aircraft? Does it already have enough Airbusses to cover for these? I know it also leases out its old 732s to the likes of Canjet (C3)… so is it ridding itself of these(and essentially its leasing division?)?

Part of the balance sheet is assets, included in which are the current values of their aircraft.  AC recently invented money when they ‘extended’ the useful life of their A320 fleet, allowing them to spread scheduled depreciation over 25 years instead of 20.  US is taking $405M of old airplanes out of their fleet. Matthew

Response:

A news report about US Airways annoucing a big time loss says: "The carrier said Friday it would lose more than $160 million before items and that it expects to record a charge of $405 million to write down its fleet of Fokker 100, Boeing 737-200, and MD-80 aircraft and certain related assets." Now, what kinds of expenses are associated with the letting go of aircraft?

Well, used planes aren’t worth as much as new ones. Or… If you end a lease early, there is a penalty. What on earth is US going to be left with if it is ridding itself of the above quoted aircraft? Does it already have enough Airbusses to cover for these?

Due to the economy, business travel is down. So, less ac are needed.

Response:

Writing down the value of the airplanes is only that – it doesn’t necessarily mean they’re dumping them.  Apparently they are carrying them on their books at values which are higher than they actually are worth.  I guess the feeling is that if they are already having a major loss this year, they might as well take the extra hit in the hope that it positions them better in the future. BTW, US’s MD80’s are the oldest ones flying – they were acquired with the PSA merger, and PSA was the launch customer for them, so these planes are probably pushing 20 years old. Jeff

– Hide quoted text — Show quoted text – A news report about US Airways annoucing a big time loss says: "The carrier said Friday it would lose more than $160 million before items and that it expects to record a charge of $405 million to write down its fleet of Fokker 100, Boeing 737-200, and MD-80 aircraft and certain related assets." Now, what kinds of expenses are associated with the letting go of aircraft? What on earth is US going to be left with if it is ridding itself of the above quoted aircraft? Does it already have enough Airbusses to cover for these? I know it also leases out its old 732s to the likes of Canjet (C3)… so is it ridding itself of these(and essentially its leasing division?)? — Amish Vancouver BC

Response:

Question:

The XFRML website has to be required reading, for any CPA or managerial accountant, at the middle level or above.  The website speaks for itself. It is very, very informative and you could easily spend a solid week, before you really understand what a far-reaching technology this is, and the changes that will result. http://www.xfrml.org/ http://www.xfrml.org/defaultFRAME.htm http://www.xfrml.org/Library/CreateOnceRenderMany.pdf AICPA’s XFRML working group is meeting this week in Redmond/Seattle area.  This is a project worth watching, and learning from. * Todd F. Boyle CPA    http://www.GLDialtone.com/ * 9745-128th Av NE, Kirkland WA 98033       (425) 827-3107 * XML accounting, web ledger, ASP, GL Dialtone, whatever.

Response:

I am trying to grasp some of the basic concepts. Do you see XFRML as a logical part of XML-tensive systems, or something that can work with most systems from Quickbooks to Great Plains to Peoplesoft? Thanks,  - Carl – Hide quoted text — Show quoted text – The XFRML website has to be required reading, for any CPA or managerial accountant, at the middle level or above.  The website speaks for itself. It is very, very informative and you could easily spend a solid week, before you really understand what a far-reaching technology this is, and the changes that will result. http://www.xfrml.org/ http://www.xfrml.org/defaultFRAME.htm http://www.xfrml.org/Library/CreateOnceRenderMany.pdf AICPA’s XFRML working group is meeting this week in Redmond/Seattle area.  This is a project worth watching, and learning from. * Todd F. Boyle CPA    http://www.GLDialtone.com/ * 9745-128th Av NE, Kirkland WA 98033       (425) 827-3107 * XML accounting, web ledger, ASP, GL Dialtone, whatever.

Response:

Question:

I think what’s needed is just one, single, mega-transaction site which would be no different than Hotmail or anything else on the internet, except that the "users" would be any financial entity such as a person or a company. The MegaTransactionSite would maintain the following table:  Date/Time         The precise date and time the deal was agreed.  TransactionNo     The transaction id number.  UserID-Payor      Any registered user.  UserID-Receiver   Any registered user.

After I posted this I immediately got correctd, that the table needs to have   DataCargo         Any small string upto 50K. such as an XML invoice or PO Somebody else told me,  " http://www.iescrow.com/ –this site is headed in that direction " But that’s not the point.  There are lots of auction settlement escrows and middlemen: http://www.auctionuniverse.com/ bidsafe, and http://www.safebuyer.com/ http://www.tradesafe.com/ http://www.auctionuniverse.com/ http://www.trade-direct.com/ That’s not my point.  They are all pretty involved in the transactions.  What I’m suggesting is becoming a high-speed, secure intercompany journal for the entire world.  Any company could login, post any type of purchase,sale or journal entry to any other company.   My idea would be impractical if you had to have tunneling, secure connectivity with every user or even presume to be secure yourself. What makes it practical is that it’s based on a slow, meticulous after-processing with encrypted timestamps.  This converts the ultra-high-tech internet security problem to become instead, a plodding matter which can be performed by clerks of low intelligence who always win. Kind of like IRS audits of the Withholding tax reported at source. My idea also becomes realistic by the fact that the table itself is a narrow flatfile, which can be immediatly deployed with MySQL or lowend database.  It can be very easily be scaled upwards to infinity, as an ISAM table on any RAID, cluster or mainframe. Note that the huge narrow table is never edited, after written! You would have small tables of open items, not yet closed, but the closed table would be final and read-only except at the bottom of the file where records are added. The security is awesome.  It can only be written by the original process after blessing by the two agreeing parties by PGP email.   And even then, after being posted and becoming READ ONLY, the confirmations are sent. There simply isn’t any weak point on security.  When PGP email is compromised you’ll hear about it in the newspapers.  It hasn’t happend. * Todd F. Boyle CPA    http://www.GLDialtone.com/ * 9745-128th Av NE, Kirkland WA 98033       (425) 827-3107 * XML Accounting Web ledger ASP netledger, web GL Dialtone, whatever.

Response:

This isn’t as secure as you think.  Think about for awhile and I think you will see the flaw.  Granted, it’s pretty strong and would be about as secure as you would need, but there is one small weakness that jumps out… Think about it from different perspectives and I think you will find the flaw very easily.

– Hide quoted text — Show quoted text – I think what’s needed is just one, single, mega-transaction site which would be no different than Hotmail or anything else on the internet, except that the "users" would be any financial entity such as a person or a company. The MegaTransactionSite would maintain the following table:  Date/Time         The precise date and time the deal was agreed.  TransactionNo     The transaction id number.  UserID-Payor      Any registered user.  UserID-Receiver   Any registered user. After I posted this I immediately got correctd, that the table needs to have   DataCargo         Any small string upto 50K. such as an XML invoice or PO Somebody else told me,  " http://www.iescrow.com/ –this site is headed in that direction " But that’s not the point.  There are lots of auction settlement escrows and middlemen: http://www.auctionuniverse.com/ bidsafe, and http://www.safebuyer.com/ http://www.tradesafe.com/ http://www.auctionuniverse.com/ http://www.trade-direct.com/ That’s not my point.  They are all pretty involved in the transactions.  What I’m suggesting is becoming a high-speed, secure intercompany journal for the entire world.  Any company could login, post any type of purchase,sale or journal entry to any other company. My idea would be impractical if you had to have tunneling, secure connectivity with every user or even presume to be secure yourself. What makes it practical is that it’s based on a slow, meticulous after-processing with encrypted timestamps.  This converts the ultra-high-tech internet security problem to become instead, a plodding matter which can be performed by clerks of low intelligence who always win. Kind of like IRS audits of the Withholding tax reported at source. My idea also becomes realistic by the fact that the table itself is a narrow flatfile, which can be immediatly deployed with MySQL or lowend database.  It can be very easily be scaled upwards to infinity, as an ISAM table on any RAID, cluster or mainframe. Note that the huge narrow table is never edited, after written! You would have small tables of open items, not yet closed, but the closed table would be final and read-only except at the bottom of the file where records are added. The security is awesome.  It can only be written by the original process after blessing by the two agreeing parties by PGP email. And even then, after being posted and becoming READ ONLY, the confirmations are sent. There simply isn’t any weak point on security.  When PGP email is compromised you’ll hear about it in the newspapers.  It hasn’t happend. * Todd F. Boyle CPA    http://www.GLDialtone.com/ * 9745-128th Av NE, Kirkland WA 98033       (425) 827-3107 * XML Accounting Web ledger ASP netledger, web GL Dialtone, whatever.

Response:

This isn’t as secure as you think.  Think about for awhile and I think you will see the flaw.  Granted, it’s pretty strong and would be about as secure as you would need, but there is one small weakness that jumps out… Think about it from different perspectives and I think you will find the flaw very easily.

Well, I’m not going to burn a lot of cycles on an open-ended comment like that, esp. from an anonymous post. Obviously the server would have to have fairly great security if only to protect against denial of service and fifty other kinds of harrassment.   It would also need to keep all its keys and users keys secure.  Probably the hardest problem is the users’ lack of control over their own keys… Nevertheless for closed transactions, stored on readonly devices, it’s hard to imagine very much going wrong. There are certainly much lower risks than realtime financial transactions banging into live, online cash accounts. Todd

Response:

Fortune magazine, December 1998 was bearish on a lot of Silicon Valley trends, especially Accounting ASPs.  They might not be so bearish today… but read on… http://cgi.pathfinder.com/fortune/technology/gurley/1998/12/07/index…. "Looking forward, a market that appears particularly susceptible to the good-idea problem is "outsourced application services." The concept is that enterprise software applications such as those of SAP, PeopleSoft, and Oracle can be run remotely via the Web, and that customers don’t need their own servers or specialized staff to enjoy the benefits of these applications. This is certainly a good idea, but the number of startups attacking this space is remarkable. Most think they can succeed without modifying the prepackaged applications in question. But that may be a problem–these programs were not designed to host multiple companies or scale themselves to millions of users. Service architectures run over the Internet will have to look technically more like the simpler versions run by Yahoo or Amazon rather than the complex configurations that traditionally govern a client-server application. " What do you think?  That’s what matters. I think what’s needed is just one, single, mega-transaction site which would be no different than Hotmail or anything else on the internet, except that the "users" would be any financial entity such as a person or a company. The MegaTransactionSite would maintain the following table:   Date/Time         The precise date and time the deal was agreed.   TransactionNo     The transaction id number.   UserID-Payor      Any registered user.   UserID-Receiver   Any registered user. When you login, you have to login to an SSL connection.  The site requires long complex passwords.  They might have some additional feature like reverse DNS, etc. etc. or perhaps not. Anybody could post a request to pay somebody or a request to be paid by somebody.  Then you logoff. Pretty soon comes a PGP message from the MegaTransactionSite by email, sent to you and the other guy.  If you both agree and send a 128-bit encrypted reply back to the MegaTransactionSite it wuld be posted, and send another PGP message back to you, containing the precise instant it was posted, and the TransactionNo. That is all it would do.  <g Then, just stand back and watch the fireworks.   You could use this as a "good enough" data backbone for all kinds of stuff….. * Todd F. Boyle CPA    http://www.GLDialtone.com/ * 9745-128th Av NE, Kirkland WA 98033       (425) 827-3107 * XML Accounting Web ledger ASP netledger, web GL Dialtone, whatever. -Todd * Todd F. Boyle CPA    http://www.GLDialtone.com/ * 9745-128th Av NE, Kirkland WA 98033       (425) 827-3107 * XML Accounting Web ledger ASP netledger, web GL Dialtone, whatever.

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Question:

I was wondering if anyone has experience in setting up a consulting practice for small businesses that need help in getting Quckbooks up and running? Do you have a fee-based or hourly approach and what has been your most successful marketing technique? Thanks for your help. Margie Freeman

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I was wondering if anyone has experience in setting up a consulting practice for small businesses that need help in getting Quckbooks up and running? Do you have a fee-based or hourly approach and what has been your most successful marketing technique? Thanks for your help.

We provide free public seminars, installs and reviews to get started. We promote this through free newspaper announcements, the libraries at which we give the seminars, client letters, newspaper ads and our www.blocktax.com web site. We then bill at normal CPA rates for personal training, though we may offer advanced small group  training soon.     Mike Block,Tax Fighting C.P.A.      954(Ft Lauderdale)-566-7540   #1 national QuickBooks Top Tester QB add-ons/seminars: www.blocktax.com   biz.comp.accounting  co-moderator

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