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Keeping You Honest
 
 
 
Keeping You Honest
Accounting, Ethics, small business are the main focus of Keeping You Honest, but we also discuss other related areas.
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On choosing a bank for your business
2006-12-30 11:29:31
When starting a new business, there are many decisions that have to be made as to how the business is to be ran and what type of business it is going to be. One of these choices is where to bank. If your town is like mine, there are several banks to choose [...]...
 
Epidemic, or change in viewpoint?
2006-10-13 03:01:22
One thing I have noticed a lot recently.  A lot of companies in trouble for backdating stock options.  It seems that there is a story about this company or that one being under investigation or restating their financials for it.  In some cases, it has been ten years or longer since the activities took place.  [...]...
 
General Update, and more on “But My Lawyer Said it was Legal”
2006-09-25 01:50:01
Things have gotten crazy around here lately, and my planned research didn’t go as I expected.  However, I do have a pretty good idea as to whether or not “my lawyer said it was legal” is a good defense.  There may be situations where this defense is a good one.  Some of those would be [...]...
 
“But my lawyer said it was legal…”
2006-09-10 20:11:02
“But my lawyer said it was legal.” This is something that I have seen a lot recently while looking though the Wall Street Journal. Specifically, with articles talking about the investigation into actions taken by H-P when they were investigating press leaks. This incident has both civil and criminal implications for H-P, [...]...
 
Start Networking Now!
2006-09-02 23:10:46
September is when most colleges seem to be having career fairs - so I figured it would be a good time to talk about everyone’s favorite subject: networking. Whether we’re in the supermarket or just bumping into someone when we’re checking the mail, we’re networking. The trouble with our perception of networking is that we [...]...
 
Holding Sarbanes Oxley Close
2006-08-29 23:07:44
Sarbanes Oxley. Two words that send waves of terror through C level executives and causes CFOs and budget makers to spontaneously burst out with obscenities. And yet, many private companies are voluntarily adhering to at least part of SOX. So why would a company adhere to a set of rules that are considered [...]...
 
Auditing the auditors
2006-08-27 12:04:30
This IRS is auditing PricewaterhouseCoopers, relating to the 2002 and 2003 selling of some of their subsidiaries that resulted in multibillion dollar income for PwC. Both the IRS and PwC have declined to comment, other than to state that there is an audit going on. While there is little known as to the specifics, I [...]...
 
FIFO, FILO and Weighted Average: Why it matters to you.
2006-08-21 16:30:08
Ask people about FILO and they will probably tell you about pastry dough. Weighted average? Grade school. LIFO? Isn’t that a board game? FIFO? Oh yeah, soccer. Ok, I am being a bit facetious, but the fact remains these inventory valuation methods are not very well known or understood. First In Last Out or FILO; [...]...
 
Quick Update
2006-08-16 10:59:05
Just a quick update, it’s been a pretty hectic week for me, but things are starting to settle down into a regular pattern and I will be having regular posts after this week, and hopefully a couple of quality posts this week.  I’ve recently subscribed to a number of trade magazines and will be starting [...]...
 
Why We Will Never See a Fair Tax
2006-08-09 08:00:56
Every few years, specifically election years, the topic of a fair tax is brought up. The fair tax issue is one that always generates a lot of debate, a lot of media attention, and a lot of hype. But, the only things that can be agreed on are that the current income tax scheme is [...]...
 
 
 
 
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