No poaching!
Leadership in each of these firms has instructed the respective partners not to take advantage of KPMG's weakened condition. There does not appear to have been any collusion between the other members of the Big Four, and smaller accountancies have supported this position.
Deloitte & Touche, Ernst & Young, and PricewaterhouseCoopers agree on the importance of KPMGs continued success. The large accounting firms have received intense criticism since the implosion of Andersen as to the lack of competition and increased concentration of service providers.
The collapse of KPMG would have been problematic both for public companies and the Big Four. With audit fees already soaring as a consequence of Sarbanes-Oxley, the loss of a competitor in the Big Four would have resulted in a concentration of power that could only drive the price of audit and tax services upward. Further, the Big Four feared that the loss of KPMG would bring unwanted government intervention.
General Ledger in Accounting Software
Before we start on the specific elements of general ledger software, and where all the pieces fit, you need to understand the basics of financial statement and how you can read them.
There are two main parts to your business s financial statement -
The accounting software will produce a Profit and Loss, which shows your day to day income reflected against your expenses and therefore shows what your profit, or loss, is.
The accounting software will also produce a Balance Sheet, which shows your business assets against liabilities and the accumulated earnings of your business over th ..
About The Author
Microsoft Moves to Small Business Accounting/Retail Market stakes and thoughts
In this small article we will be looking at the new opportunities for Microsoft Small Business Server specialists, but rather look at the global business strategy and possible ways of future ERP modules standardizing and interoperability. This is important to get into consideration for midsize and large corporate business IT decision makers. Lets look at the chronology and possible future development.
Great Plains Software acquisition. When Microsoft took leading position on the operating system market and released stable and reliable Windows 2000 Server, the next logical step would be ..
Thomas Johansmeyer webmaster@big4.com is an Alumni Member and Staff Writer with http://www.big4.com. He writes articles on issues pertaining to the global Big4 firms - Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers.
Tom's articles focus on latest news and happenings in Big4 Accounting, Big4 Management Consulting, Big4 Information Technology, Big4 Tax and Big4 Legal domains.
Thomas JohansmeyerAccounting Community Supports KPMG
