Accounting for growth
The accounting profession is being boosted by changes in the law and the marketplace. The biggest winners appear to be mid-size local and regional firms, rather than the Big Four.
baltimore.bizjournals.com/bizoutlook/
2004/07/26/?jst=s_ol_hl
Yet another reason to go into accounting
A widow leaves $1.1 billion to her accountant. But will it hold up in court?
www.accountingweb.com/cgi-bin/item.cgi?
id=99491&d=815&h=817&f=816&dateformat=
%B%20%e,%20%Y
Switch to new SAT brings a difficult multiple choice
As if the college admission process didn't provoke enough anxiety, students in the high school graduating class of 2006 face a difficult choice: Which version of the high-stakes SAT test should they take?
www.baltimoresun.com/news/education/
bal-te.sat26jul26,1,1659433,print.
story?coll=bal-nationworld-headlines
Personal Finance 101
Tax advice for the working student: All employees have federal income tax withheld from their pay, right? Not necessarily. The IRS says that if you are a student working a summer or part-time job, you may be exempt from withholding if:
- you can be claimed as a dependent (usually on a parent's return),
- your total 2004 income will not be over $4,850,
- your unearned income (interest, dividends, etc.) will not exceed $250, and
- you had no income tax liability for 2003.
You'll still have to pay Social Security and Medicare taxes, but skipping unnecessary income tax withholding will put more money in your pocket now. For more information, visit the IRS Web site:
www.irs.gov
Who passed the CPA exam?
The Maryland Board of Public Accountancy has received the scores for the sections of the Uniform CPA Examination taken took during the April-May examination administration window. Congratulations to TCPA member Laura Wisman. Find out who else passed at:
www.tomorrowscpa.org/candidates/
exam/AprilMay04.html
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Play Moneyopolis
It's the online game that helps students learn personal accounting, takes only 45-60 minutes and is very self-motivating. It's sponsored by Ernst & Young and is available at:
www.moneyopolis.com/new
Accounting word of the week: R
Return on investment (ROI): Ratio measure of the profits achieved by a firm through its basic operations. An indicator of management's general effectiveness and efficiency. The simplest version is the ratio of net income to total assets. For more definitions, go to:
www.Startheregoplaces.com
Are you going places? Take the Career Personality Test
You've got tons of ideas and dreams for the future. But how will you make them a reality? Discover your unique skills and see how they can get you to the top! Take the test!
www.startheregoplaces.com/sandbox/
personality/personality.asp
Study accounting in college!
For a list of Maryland colleges and universities with accounting programs and Maryland community colleges with accounting courses go to:
www.tomorrowscpa.org/highschool/
college.html
TCPA member profile
Meet Diana McCalpin, Penan & Scott, PC
Hobbies: Reading, cooking, dancing
Favorite movie: "The Mirror has Two Faces"
Why I want to be a CPA: To have versatility and more options in my career
Favorite course: Business Writing
Least favorite course: Calculus
What people say when I tell them my career choice: "Can you do my tax return ... for free?"
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