| A.
R. Kakhsaz Company
an accountancy corporation
Member
American Institute of
Certified Public Accountants
International associates:
Tavana & Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221
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ENRON BANKRUPTCY
HURTS ALL INVESTORS confidence, questions the integrity, if any, of
its board of directors and executives, undermines the integrity of the SEC
regulators, questions the integrity of accountants, Arthur Anderson and
reveals that financial acumen of stock analysts can be empty. If
investors cannot trust the directors, executives, accountants or analysts
to come up with decent numbers, they will exact a lesser price for
stocks. Enron was the U.S. seventh-largest company with assets
totaling $64 billion as reported in its latest quarterly report. NEW
YORK's NEW MAYOR, Michael Bloomburg, spent $69 million on his
self-financed campaign, breaking all records. Ross Perot spent $62
million in running for president in 1992.
HOSPITAL PATIENTS ARE MORE LIKELY TO DIE
if admitted on weekends, reports a study in the New England
Journal of Medicine. But waiting for a weekday is not a good idea.
MEN WHO LIVE IN AREAS WITH HIGH unemployment
and low pay are more likely to die of cardiac problems than those in
better-off places.
HAVE YOU VISITED OUR WEBSITE LATELY?
Go to: www.ARKCPA.com
THE UNITED STATES 2001 GROSS DOMESTIC product exceeded $10
trillion.
THE IRS EXPECTS TO RECEIVE MORE THAN 132 million individual
income-tax returns for the year 2001.
ONE HUNDRED FOREIGNERS ARE ON DEATH row awaiting their execution
in the U.S.
HE RECEIVED AN IRS LETTER THANKING HIM FOR his
question about his missing tax refund. The letter gave him an 800
number and stated : "You can call between the hours of 11:59 p.m. and
12:00 a.m."
THE OCCASIONAL DRUNK has to be shown the door,
but Natalie Parker, 26, otherwise see no downsides to being a tattoo
artist. She can spend an hour on a small, ready-made tattoo or as
long as a month on an intricate custom design. She gets so attached
to her works that "it breaks my heart watching them walk out the
door." Artists can take home as much as $600 a week.
TAKE ADVANTAGE OF EVERY OPPORTUNITY to make the
world a better place!
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UNDER CONSIDERATION is a satellite based system able to
broadcast live jetliner cockpit conversations, flight data and video
of passenger activity inside the cabin to controllers on the ground.
PAY THE LEAST AMOUNT OF TAXES: That's your right. As
it is your tax-accountant's job!
A POPULAR JOKE AMONG THE WALL STREET traders: The next
great investment play will be shorting a basket of stocks of
companies audited by Arthur Anderson!
U.S. INCOME-TAX TREATY WITH BRITAIN makes
most dividends received by a company in one country from its
subsidiary in the other country exempt from income-taxation and
withholding in the subsidiary's country.
HAVE A TAX QUESTION? Send me an e-mail at ali@arkcpa.com.
U.S. ECONOMY's LONG-TERM OUTLOOK: During
the first two quarters of the official recession, productivity, or
output for hours worked, has averaged a solid 1.8% growth, compared
with an average of 0.14% in the first two quarters of the previous
nine recessions. A research paper presented by two prominent
economists, argues that such a strength in the U.S. productivity
rate is likely to continue for a number of years to come. The
paper forecasts the productivity growth over the next decade at a
robust 2.24% annually. That's slightly lower than average
2.36% that helped the economy surge from 1995 to 2000. The
paper puts the long-term non-inflationary growth rate of the economy
at 3.34% over the next decade, which is about a percentage point
higher than what economists believed was possible before the
productivity surge of the late 1990s. Though, the figure is
sharply lower than the average annual growth rate of 4.6% from 1995
through 2000, with the main reason being a reduction in the growth
of the forecasted hours of work. The main reason behind their
optimistic forecast is that the authors of the paper believed that
the computer chip-makers can and will develop faster semiconductors
on a two or three year cycle. Hence, a continuation of the New
Economy.
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WE SEE
MORE IN NUMBERS than just numbers… We see opportunities for you.
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
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