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STUDY: RIAS NEED TO DIFFERENTIATEA study commissioned by Pershing Advisor Solutions projects that as the market for financial services becomes even more competitive, registered investment advisors need to "fine tune" their area of expertise and promote their reputations of specialized knowledge in a given niche. The report said that specialization is crucial, given that consumers who seek financial advice are becoming more sophisticated in their market knowledge, and thus are sparking a growing demand for qualified individuals.

The many practitioners who conduct valuations in the normal course of their practices will shortly be required to follow, for the first time, detailed standards, because the Consulting Services Executive Committee of the American Institute of CPAs has issued a comprehensive professional statement of standards - Statement on Standards for Valuation Services No. 1, Valuation of a Business, Business Ownership Interest, Security or Intangible Asset."The AICPA developed the valuation standard to improve the consistency and quality of practice among its members who perform engagements that estimate values for various reasons," said AICPA president and CEO Barry Melancon, in a statement. "Congress, government agencies and accounting regulators have recently focused their attention on appraisal issues - such activity shows the importance of valuation to the business community and individuals. The standard promotes greater transparency and provides our members with a set of guidelines in the unique context of a CPA practice."

Ask most people about the developments in the software markets for fixed asset management, and the responses will fall into two areas - the move toward a Web-based application service provider model in fixed assets, and the opportunities for compliance in the areas of FIN 48 and Sarbanes-Oxley.But more interesting in the long run may be the impact of convergence. For too long, fixed asset management systems have focused on the accounting side, leaving to chance or to manual spreadsheets the tasks of locating, identifying, marking and recording the assets themselves. With advances in new hardware and asset inventory technologies over the past two decades, the race for dominance in this class of software may depend less on the mad dash to go online than on a race to see which software can best merge the elements of asset inventory, construction-in-process accounting and asset accounting into a cohesive and coherent application.

SAGE UPGRADES ABRA HR; CREATES ADVISORY BOARDSage Software has unveiled its latest versions (7.6 and 8.3) of Sage Abra HRMS, the company's human resource management system for small and midsized businesses and organizations in North America, featuring Employer Information Report EEO-1 and compatibility with the Microsoft Windows Vista operating system.

For the past two decades, I have watched accountants price services based upon the cost of labor plus a desired profit. This is the effort-based economy trap.About 15 years ago, we developed a pricing matrix for consulting services in an attempt to capture the perceived value of the services in the eyes of our clients. We coupled this with a strong engagement letter that clearly defined the scope of our services; in addition, we utilized change orders as engagements expanded.

SoftwareUSEFUL AT LAST

CALIFORNIAHood & Strong LLP has returned to downtown San Jose after a hiatus of 25 years, with a new 9,000-square-foot office at 10 Almaden Boulevard. ... Grant Thornton LLP has opened a new office in San Diego, at 12340 El Camino Real, Suite 220.

OCTOBER9-10: Tiburon CEO Summit XIII, Tiburon Strategic Advisors. Ritz Carlton Hotel, San Francisco. Contact: www.tiburonadvisors.com.

The Internal Revenue Service has lost the first round in a much-anticipated test case against Textron Inc., in which it sought judicial approval for a new program seeking tax accrual workpapers during the examination of corporate clients.The IRS is interested in Textron's and others' workpapers, since they document what the company considers its questionable tax positions.

The Internal Revenue Service is not doing enough to match incorrect or missing identification numbers on income and wage statements with existing tax accounts, charged the Treasury Inspector General for Tax AdministrationThe TIGTA noted that in tax year 2004 alone, the IRS received about 3.8 million income statements reporting approximately $150 billion in earnings that could not be matched to a filed tax return because of missing or erroneous ID numbers. Compared to 2001, that represented a 63 percent increase.