FYI


Short takes, notes and items of interest

Where Did All the Partners Go?
¤ According to a Bowmans Accounting Report survey, more Big 6 (now Big 5) partners earned their degrees at New York University than at any other school249. Closely following are the University of Pennsylvanias Wharton School (233) and the University of Texas (212). Nearly 13% of all Big 6 partners degrees were earned at New York State colleges.

Money in the Year 2000
¤ The FDIC has a brochure: The Year 2000 Date Change: What the Year 2000 Date Change Means to You and Your Insured Financial Institution . It reassures consumers by explaining that banks have to keep back-up records in case the Y2K problem affects accounts. The FDIC has provided camera-ready copy of the text to all the institutions it insures so they can make their own brochures. Or, the brochures may be ordered in bulk: For details, call the FDIC at 202-942-3425 or go to www.fdic.gov

Have an International Practice—Right Here
¤ According to 1997 Census Bureau statistics, nearly 26 million U.S. residents are foreign-born, and about half of them come from Central or South America or the Caribbean. About 7 million listed Mexico as their birthplace.

Know Your Mortgages
¤ The Federal Financial Institutions Examination Council has issued the 1998 edition of A Guide to HMDA ReportingGetting It Right! This is a resource for institutions covered by the Home Mortgage Disclosure Act. The FDIC has already sent copies to reporting institutions; others can purchase copies by calling the HMDA assistance line at 202-452-2016.

Letter Perfect
¤ The Social Security Administration will begin rejecting W-2 forms that have incorrect name and Social Security number combinations. Errors may occur when employees add titles that do not appear on their SS cards or forget how their names appear or when women do not inform the SSA of name changes after marriage. The SSA is working with the IRS to increase compliance.

Show Me the Money
¤ America Works Because We Are Working for America is the motto of the third annual National Payroll Week, September 14-18. The American Payroll Association reminds us that 125 million Americans receive regular paychecks and that payroll professionals collect nearly $1 trillion in taxes annually. The APA also says that payroll departments spend more than $15 billion a year on recordkeeping and overhead to comply with federal and state wage and tax laws.

 

Accounting and Law
¤ Former AICPA board chairman Robert Israeloff, chairman of Israeloff Trattner & Co., has been appointed to the Institute of Law Firm Advisors Advisory Board.

CPAs Voice for Womens History
¤ J. Michael Cook, chairman and CEO of Deloitte & Touche and former chairman of both the AICPA board and the Financial Accounting Foundation, was appointed by President Clinton to serve on the Presidents Commission on the Celebration of Women in American History. Cook is one of two private-sector CEOs and the only male on the commission.

GFOA Encourages Students
¤ The Government Finance Officers Association announced winners of several scholarships it offers: The Frank L. Greathouse Government Accounting Scholarship to Brandon L. Baiamonte, Boise, Idaho; the Daniel B. Goldberg Scholarship to Corey Brian Long, New York City; the Public Investor Scholarship to John E. Patterson, New York City; the Minorities in Government Finance Scholarship to Stephanie L. Payton-Walker, Wichita, Kansas; and the Public Employee Retirement Research and Administration Scholarship to Catherine Ann Hendrix, San Jose, California.

The Perils of Resumania
¤ Robert Half himself invented the term resumania to cover the resume errors he saw during his career. Examples: I have a Fortune 500 pedigreeMy weakness is that I may be too successfulEducation: Valid Florida state drivers license. Accountemps, founded by Half, advises job candidates to ask colleagues, family and friends to review resumes not only for spelling and grammar but for ambiguous words and phrases. And presumably outright errors of judgment.

The Executives Executive
¤ James J. Abel is the 1998-99 chairman of the Financial Executives Institute. Executive vice president and CFO for the Lamson & Sessions Co. in Cleveland, Abel is a member of the National Investor Relations Institute and belongs to a number of local business organizations.



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