an accountancy corporation

                                   

Member
American Institute of
Certified Public Accountants

• Sending money home: Much has been made of the economic lifeline provided to Latin America by the billions of dollars transferred home by immigrant workers each year.  But in reality, more than 93 cents out of every dollar earned by immigrants stays in their adopted communities, creating a huge boost to local economies.  Guest workers in the top six states - California, New York, Texas, Florida, Illinois and New Jersey - send well more than $1 billion annually from each state.  But such remittances represent a small fraction of all foreign-born worker earnings.  While last year, the 16.7 million U.S. workers born in Latin America had a combined gross income of $450 billion, the total monies sent home by the immigrant workers has been estimated at $38 billion world-wide.  Some $30 billion of the total is believed to come from the U.S.   

• Adidas plans to launch a $250 running shoes.

• Two-thirds of diabetics  are not properly controlling their blood sugar and one-third of older ones risk losing a leg.

• A laboratory made strides in developing bacteria that may eat organic and nuclear waste, said the U.S. Department of Energy.

• HARDWARE: "The part of the computer that you kick when the software malfunctions."

• Prices for brand-name prescription drugs increased at four times the rate of inflation last year.

• The IRS's Criminal Investigation Division had some 5,000 employees.

• For more of the Generalist, please visit our website at ARKCPA.COM.

• theGeneralist, a one-page monthly publication of the accounting firm of A. R. Kakhsaz Company, is in its ninth year of providing information, presented fairly and accurately, from sources we can depend upon and trust.

• Accounting and audit fees are soaring. The fees are 38% more now than a year ago.  Companies of all sizes expect large increases in their audit and accounting expenses.  How much are the public companies pay for such fees?  General Electric, for instance, paid $39 million in 2002 and $56 million in 2003.  KPMG is the outside accounting firm of GE.

• Mercedes Benz new-car registrations in Europe fell 2.5% in the first four months of 2004, as BMW's registrations rose 5.5%

• A New York man was convicted of a rape and murder crime of thirty years ago, after crime-scene DNA was matched to a straw he tossed after drinking soda.

• Alzheimer's disease researchers found that high doses of Vitamins C and E appear to cut risk of the dementia.

• President Goerge W. Bush has been quoted as saying:  "For NASA, space is still a high priority."

• The largest homeland security contract in history was awarded to Accenture, a company that has given up its U.S. citizenship and moved to Bermuda.  Accenture Ltd., formerly Andersen Consulting, secured the $10-billion contract.  The project is to track foreign visitors in the U.S.

• Al Qaeda has over 18,000 potential terrorists scattered around the world. 

• I know that it's impossible for all to hold the values, held by, and to have the qualities, found in Ronald Reagan.  But I'd like to wish that perhaps only a small fraction of us could strive for such values and qualities.  The fortieth president of the United States died at 93 on Saturday, June 5, 2004 after a long battle with Alzheimer's.

• We see more in numbers than just numbers… 

Ali R. Kakhsaz, CPA, MAcc

www.arkpca.com