Guide on Cloud Computing

In a book “10 Steps to a Digital Practice in the Cloud: New Levels of CPA Firm Workflow Efficiency” published by the American Institute of CPAs, the authors describe the 10 steps for getting a digital practice up and running:

• Get the right technology infrastructure to leverage the cloud.
• Provision enough Internet bandwidth, both wired and wireless, to operate effectively.
• Select the right mix of desktops, laptops, mobile devices and software to function in a productive, effective way.
• Install the right scanning systems to aid the shift to a paperless office. 
• Deploy a document management system to maximize efficiency with digital records.
• Use trial balance working paper software, if the firm performs many of these engagements.
• Transform the firm’s Web site into a full-fledged client portal.
• Maximize productivity with workflow software.
• Offer clients cloud-based accounting systems.
• Have the right plan and tools in place to ensure data security and speedy disaster recovery.

Read full article “Guide on Cloud Computing” at accounting.pettir.com

Why Do Businesses Need An Accounting System?

Maintaining a set of accounting records is not optional, it's a law! The Internal Revenue Service (IRS) requires that businesses prepare and retain a set of records and documents that can be audited. Internal Revenue Code requires that business have the ability to compute taxable income by using some sort of common-sense accounting system that clearly reflects income. In addition, the federal legislation requires public companies to have a detail and accurate books, records, and accounts of transactions and dispositions of the assets.

Beyond complying with the law, a company that fails to keep an accurate record of its business transactions may lose revenue and is more likely to operate inefficiently. You can’t successfully manage your business without the accounting system. Success requires the ability to perform financial analysis, which is to accurately measure business growth, profitability, and cash flow, as well as to reasonably estimate your financial condition.

Read full source article at accounting.pettir.com

Square: Turn Mobile Devices Into Credit Card Machines

Plug Square credit-card reader gizmo into your Android smartphone or iOS device (iPhone, iPod Touch, and iPad) and you are ready to accept credit-card payments anytime, anywhere! The Square app is available for free download.

People love the fact that the reader plugs into the headphone jack on your iOS or Android device; it's not some bulky custom case the works only with select models. You pay only a small percentage of each transaction. No monthly or annual fees. The company charges 2.75 percent per swipe for Visa, Mastercard, Discover, and American Express.

The card reader has a suggested retail price of $9.95 with a $10 rebate upon signup for new users and can now be purchased at many stores (Apple, Best Buy, OfficeMax, Radio Shack, Target, UPS, Wal-Mart, Walgreens, Staples, and FedEx stores) across the U.S.

Read full article “Square Credit-Card Reader” at accounting.pettir.com

Apple Initial Sales Of New IPad Top 3 Million Units

Apple Inc. sold three million new iPad tablets since the latest version of the product started selling Friday, March 16,  in the U.S. and nine other countries. That is the strongest iPad launch to date, according to Futurist Creation's blog.

The new iPad is available in the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore, Switzerland, U.K. and the U.S. Virgin Islands and will be rolled out to 24 more countries starting this Friday, March 23.

The report comes on a day of big news for the technology company, which earlier unveiled plans to share billions of dollars in profits with shareholders through dividend and buyback share. Apple would issue its first dividend in more than a decade, paying $2.65 a share each quarter. The company also plans to buy back as much as $10 billion in stock over the next three years, beginning on Sept. 30, the start of its 2013 fiscal year.

In January, Apple said its fiscal first-quarter earnings more than doubled, blowing past analysts' expectations, as profit and revenue hit record highs, led by strong sales of the iPhone smartphone and iPad.. Source article "Apple Initial Sales Of New IPad Top 3 Million Units".

Apple pays investors with dividend and share buyback

Apple Inc CEO Tim Cook fulfilled a longstanding desire of investors by initiating a quarterly dividend and share buyback that will pay out $45 billion over three years.

The world's most valuable technology company will start paying its first dividends since 1995 -- a regular quarterly payout of $2.65 a share -- in July, and buy back up to $10 billion of its stock beginning in the next fiscal year.