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
¤ 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
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.
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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.