TAX & FINANCIAL PLANNING NEWS

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CSI REBRANDS Creative Solutions has begun rebranding its tax and accounting software line, bringing its entire array of products together under the name CS Professional Suite.

"For many of the products, it's going to be the same functionality," Says Jack LaRue, vice president of marketing. The well-known Write-up Solution has been renamed Write-Up CS, while most products will add CS to their name.

MORNINGSTAR PROFIT REBOUNDS

Partner Insights

Morningstar had earnings of $8.8 million for the year ended December 31, a rebound from a loss of $11.9 million for 2003, according to documents filed with the SEC.

The Chicago-based company's sales were $179.7 million, up 28.8 percent from $139.5 million the year before.

YARRINGTON RETIRES

Hugh Yarrington, former president and CEO of CCH, has retired from the executive board of Wolters Kluwer, the Dutch company that owns CCH Tax & Accounting.

Yarrington, who joined CCH in 1994 after 21 years with the Bureau of National Affairs, remains active in an advisory capacity.

CERIDIAN WROTE OFF SOURCEWEB

Payroll company Ceridian took a $9.1 million pre-tax impairment charge for the SourceWeb system that it sold to RMS McGladrey Employer Services at the end of 2004.

The write-off primarily involved the software license purchased from Ultimate Software and capitalized software development costs. Ceridian also recorded a $19.5 million pre-tax loss on the disposal, which includes $19.3 million in future royalty payments to Ultimate Software and $200,000 for employee severance. McGladrey paid $4 million for the Web-based payroll system. Ceridian has already paid Ultimate $23 million in royalties.

RIA PARTNERS FOR 404 WORK

RIA has licensed the Parson Consulting Sarbanes-Oxley 404 Compliance framework for incorporation in RIA's Checkpoint service.

The framework incorporate oversviews of each phase of the 404 compliance process and links to primary source material on Checkpoint.

INTUIT NAMES MARKETING OFFICER

Intuit has named Mark Schar as senior vice president and chief marketing officer.

Schar replaces Raymond Stern, who took a leave of absence in March

Stern added the CMO responsibilities after his predecessor, Tom Weigman, resigned in January 2004 after five months on the job.

ADVENT CITES ERRORS

Advent Software says that it expects to report that its management did not maintain effective internal controls over financial reporting for the year ended December 31.

In an SEC filing, the company reported it was recognizing an additional non-cash impairment charge of $863,000 for its June and September quarters. It also failed to release a $5.8 million tax reserve that was not required and failed to accrue $1.3 million in estimated state income tax liabilities for 2003.

CORRECTION

The VAR 100 list in the April issue of Accounting Technology failed to include MAS 500 as one of the products offered by Nextec, a Houston-based reseller. Nextec ranked as No. 28 on the VAR 100 list.

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