COUGAR MOUNTAIN UPDATES LINEUPCougar Mountain Software released Version 12 of its CMS Professional Accounting, Fund and Point of Sale products.

The new lineup includes three new types of reports. Snapshot reports offer a dashboard-like view of business conditions in a company's general ledger, accounts receivable, accounts payable, sales and inventory, complete with charts and graphs.

Common-size reports give managers and business owners a way to see how their company has performed over time and in comparison with other companies in the same industry. Financial analysis reports show the company's performance over three years at a glance using financial metrics for comparison and analysis.

Other new features let users compare their company's financial goals with their current financial status, create additional custom reports, and electronically file W-2s and state and quarterly tax forms.

PCAOB CIO STEPS DOWN

Ray Schmidt, chief information officer of the Public Company Accounting Oversight Board, is stepping down after five years to take a job in the private sector.

Schmidt has been the board's CIO since its inception, having designed, developed and deployed the board's technology, and directed its tech strategy. He oversaw the development of the board's technology infrastructure in less than a year, and set up a Web-based system that audit firms could use to register online.

Schmidt came to the PCAOB after a stint as corporate enterprise manager at federal contractor RS Information Systems. He also worked for the business intelligence tech company MicroStrategy and its Strategy.com business unit, and for E-Systems and Control Data.

Marc Stewart, deputy director of the PCAOB's Office of Information Technology, will act as interim CIO until the board appoints a permanent replacement.

TENNESSEE FIRM SELLS TECH GROUP

CPA firm Coulter & Justus has sold its Technology Solutions Group to Axis Integrated Solutions, a Sage software reseller.

The TSG acquisition gives Chicago-based Axis more than 125 new clients. It also fits in with Sage's strategy of reaching out to independent CPA firms.

The director of TSG, Troy Turrentine, and his staff will join Axis and manage the Knoxville, Tenn., office that Axis is gaining from the acquisition. Turrentine is a member of the partner advisory board of the Sage Software Accountant's Network. TSG will help clients in Tennessee and the Chicago area with Sage Software products such as MAS, Peachtree, Businessworks and FAS Fixed Assets. TSG will also tap into Axis' CRM and warehouse management support services.

Axis said that it made the acquisition because it wanted to expand its ability to serve small and midsized businesses.

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