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Monday, July 21, 2014

How to Go Public Without a Stock Exchange

When the last general store serving 10,000-resident Port Townsend, Wash., folded in the Great Recession, the community 40 miles northwest of Seattle faced a dilemma. “You couldn’t even buy socks and underwear in our town,” recalls serial entrepreneur Martin Gay.

So in 2011, Gay and a handful of others turned to a little-used alternative: a direct public offering (DPO). By selling shares in the store to more than 1,000 individual investors from as far away as Spokane, they raised $700,000 and opened the Quimper Mercantile Company in October 2012. The store took a loss in 2013 but is projected to be profitable this year, says Gay.

Direct public offerings allow local consumers of a product or service to own a piece of the company behind it. The idea is similar to equity-based crowdfunding, which is still on hold while the Securities and Exchange Commission writes the rules. DPOs are governed by widely varying state securities laws, and investors must come from within the state where the offering is taking place.


To read full article, click here.

Source: Karen Klein (www.businessweek.com)

Tuesday, July 15, 2014

Accountants' Confidence in the Economy Splits

After rebounding sharply in June from months of decline, the Accountants Confidence Index split into two directions this month, with the short-term and mid-term readings heading apart, though both remain positive.
The ACI, published by Accounting Today in partnership with ADP, is a monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S. The 3-Month ACI rose above the 50 mark that separates expectations of growth from contraction, coming in at 50.93, down a little from 51.39 last month, while the 6-Month ACI hit 53.44, up slightly from 53.39.

To read full article, click here.
Source: Daniel Hood (www.accountingtoday.com)

Tuesday, July 1, 2014

10 Best Practices for Accounting Firm Online Content

BKR International hosted a panel of some of the best accounting marketers in the country in conjunction with the Association for Accounting Marketing Annual Summit in Austin, Texas. Putting their smart brains together, they agreed on 10 best practices for building the reputation and visibility of accounting firms in a high technology, but still high touch industry.

1. Responsive Design
Responsive design is an approach that crafts websites and other content for an optimal viewing experience on any device. It provides easy reading and navigation with minimal resizing, panning or scrolling. “Any new content should be oriented toward responsive design, not just accessibility on a mobile device,” noted Wendy Nemitz, BKR panelist and principal of Ingenuity Marketing Group, St. Paul.

To read full article and view the slideshow, click here.

Source: Accounting Today (www.accountingtoday.com)

Tuesday, June 24, 2014

Tech - Transforming the Way We Work

10 years ago I started Hamilton Bradshaw and our success to date is something I'm very proud of. One of the things I enjoy most about the world of business is the way in which practices, approaches and technology are constantly changing and developing.
If you carried on doing the same things over and over again you would get bored very quickly and run the risk of losing out to rivals who embrace change and are prepared to evolve.
Of course the fundamental principles of business remain the same – understanding your customers, getting your margins right and providing a great product or service. But the way we all do business has changed dramatically over the last 10 years and there is every reason to believe that even more changes are just around the corner.
Attitudes in the workplace have become more relaxed in recent years, particularly in the creative sector and in the communications business. But that does not mean that they are less focused or professional. The changes in atmosphere and attitudes are simply a reflection on the way society has changed and evolved.

To read full article, click here.
Source: James Caan (www.linkedin.com)

Thursday, June 19, 2014

New Revenue Recognition Standard Could Affect Tax Practitioners and Auditors

The new converged revenue recognition standard from the Financial Accounting Standards Board and the International Accounting Standards Board could have an impact on not only financial statement preparers, but on tax practitioners and auditors as well.
“It’s not just accountants who need to worry about this,” said Bloomberg BNA Tax & Accounting executive editor George Farrah in an interview Friday. “Tax people will need to know about it because you might have to change your accounting method for tax purposes, and you need to assess whether or not that’s going to have an impact. They also need to be aware of it for their transfer pricing policies. Their transfer pricing may have been based on revenue estimates. Those estimates need to be looked at to see if there is any impact on them.”
Farrah also pointed to requirements in the Securities and Exchange Commission’s Staff Accounting Bulletin 74 for disclosing the impact that recently issued accounting standards will have on the financial statements of a company when adopted in a future period.

To read full article, click here.
Source: Michael Cohn (www.accountingtoday.com)

Friday, June 13, 2014

Google Bought a Satellite Startup to Make Maps, Not Internet Connections

The battle for the sky continues. Google (GOOG) has spent $500 million to buy Skybox Imaging, a company that uses small satellites to transmit high-resolution images from space. Tuesday’s announcement comes only two months after Google acquired Titan Aerospace, which beams Internet signals from high-altitude drones. In March, meanwhile, Facebook (FB)spent $20 million on Ascenta, another drone maker.

Google plans to use Skybox’s satellites to make better maps with “up-to-date imagery,” the company said in a statement. “Over time, we also hope that Skybox’s team and technology will be able to help improve Internet access and disaster relief—areas Google has long been interested in.”

Skybox has only a single satellite in orbit right now but plans to fly a fleet of them to cover the entire globe at all times. Constantly updated satellite images would be of interest to everyone from agricultural companies and hedge funds to hardware stores. A demonstration earlier this year showed how Skybox satellites could be used to monitor oil reserves from space.


To read full article, click here.

Source: Joshua Brustein (www.bloomberg.com)

Thursday, June 12, 2014

Parsing the Payroll Report: Focus on Transport Stocks

Employers in the U.S. created 217,000 jobs in May, lifting total U.S. payrolls to the highest level since January 2008. Adjusting for seasonal factors and population growth, the unemployment rate held steady at 6.3 percent, the lowest since September 2008.
Economists and strategists are generally positive in their response:
  • Adrian Miller of GMP Securities LLC: Confirms Goldilocks fundamental landscape of not too hot, not too cold. Good for stocks, bonds and credit spreads.
  • Don Rissmiller of Strategas Research Partners LP: New high on payrolls show the U.S. economy retains momentum.
  • Eric Viloria of Wells Fargo Securities LLC: The data supports an ongoing gradual reduction in the pace of monthly Fed purchases which is contributing to overall benign market conditions.
Seven sectors have accounted for 97 percent of all jobs created during the past six months. Transports have led the way, generating nearly a quarter of the 1,152,000 new jobs.


To read full article, click here.

Source: Adam Johnson (www.bloomberg.com)