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K2 Tech Update

Your Accounting and Finance Technology Update 

December 2012
In This Issue
Reducing Fraud with Technology
Add Security and Control by Embracing Digital and Cloud Content
New CCH Tax Briefing Examines IRS Guidance on Medicare Contribution Taxes
Thomson Reuters Enhances NetClient CS
XCM Solutions Announces 10th Version, Vision for Future
K2 Connections
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K2 Tips
In this month's K2 Tech Update, we discuss Reducing Fraud with Technology and Adding Security and Control by Embracing Digital and Cloud Content.

In our News section, learn about the New CCH Tax Briefing that Examines IRS Guidance on Medicare Contribution Taxes, Enhancements added to Thomson Reuters NetClient CS, and XCM's Announcement of Version 10, in addition to its Product Vision for the Future. 
The K2 Tips section includes an Excel tip on Naming and Renaming Excel Tables and a Word tip on Inserting Drop Caps into Word Documents.

All of us at K2 Enterprises wish you a Happy and Prosperous 2013.
Reducing Fraud with Technology

The statistics are everywhere and they are startling - fraud continues to run at epidemic levels, not only in the United States, but also across virtually all countries. In fact, according to the Association of Certified Fraud Examiners 2012 Report to the Nations on Occupational Fraud and Abuse, the typical organization loses approximately 5% of its gross revenues each year due to fraud, with the median loss pegged at $140,000. However, this need not be the case, because you already own some very effective tools for preventing and detecting fraud and they reside on your computer. In this article, I will provide some guidance for using tools that you already own - namely Microsoft Office Excel and Access - to help you detect fraud and to reclaim some of your profits that may be walking out the back door.


Add Security and Control by Embracing Digital and Cloud Content

Two of the hottest technology trends today are electronic content and cloud computing. Even though this is the case, I consistently meet people that tell me that they are not comfortable with storing information electronically and that their trepidation increases when this content is placed in the cloud. The primary reason for this fear is a lack of control and the perception that when there is less control there must be greater risk.


Since we are in the midst of the Holiday Season, I will use a personal example from a few years back to illustrate how relinquishing control can sometimes be beneficial.


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New CCH Tax Briefing Examines IRS Guidance on Medicare Contribution Taxes
Thomson Reuters Enhances NetClient CS

New Features Provide Better Availability for Mobile Users


The Tax & Accounting business of Thomson Reuters has announced a series of enhancements to its popular NetClient CS client portal platform that will make the portals easier for clients to use and extend them to mobile devices. Aimed at an increasingly mobile, cloud-based tax and accounting profession with ubiquitous connectivity and instantaneous access for staff and clients alike, the enhancements mark the most extensive changes to the software since its introduction.
XCM Solutions Announces 10th Version, Vision for Future

XCM Solutions, LLC has officially announced XCM 10, the latest version of its award-winning workflow management software for the accounting profession. XCM 10 is designed to extend the usability of XCM for all areas of the firm and to expand its budgeting and forecasting functionality for its integrated Scheduling Module, to be released in the spring.


The Company also announced its product vision - including its much-anticipated mobile strategy and debut of its first mobile application, which CEO and Founder Mark Albrecht previewed to attendees of his "Next Generation of XCM" session at the Digital CPA 2012 CPA2Biz Cloud User Conference in Washington D.C.

We hope you find this issue timely, relevant and useful. If you have topics you would like for us to cover here in the coming months, please let us know.
The K2 Team 
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