Top 10 technologies lists.

• Author: Maida, Joseph C.
• Position: Tax technology

Editor's note: Mr. Maida and Mr. Rubenstein are members of the AICPA Tax Division's Tax Technology Committee. Ms. Smith is a member of the AICPA Information Technology Research Subcommittee and Strategic Planning Advisory Subcommittee.

Move over, David Letterman, CPAs have developed their own top 10 lists, at least in the technology area. Tax practitioners were well represented when ranking the AICPA's 1998 top 10 technologies, and the resulting lists reflect their presence. CPAs used five functional filters to create the lists: 1) tax, 2) consulting, 3) accounting, auditing and assurance, 4) financial and operational management and 5) overall. This column will discuss the overall technology list (along with a few comments about how CPAs are using the technology), present the tax top 10 list (on page 494), and will highlight some of the differences between the two lists. In today's business climate, these technologies are very important; CPAs who keep up with them will have a competitive edge.

The Internet and Related Technologies

Tax practitioners are successfully using the Internet for research. For example, they can subscribe to a Web-based product, such as RIA's Checkpoint or CCH's Research Network, and access more up-to-date information than available with a CD-ROM subscription. The newsgroup "misc.taxes.moderated" Web address allows practitioners to exchange viewpoints with each other. In addition, many Websites include tax news; any practitioner with a site can post tax news and tips for client viewing.

A private (or corporate) network, such as a local area network (LAN) or a wide area network (WAN), is the foundation for many technologies on the top 10 list, such as e-mail, remote access, document management and intranets. An intranet is an internal corporate network that uses Internet technologies. One of the first uses of intranets was to reduce publishing costs; everything from phone lists and employee manuals to financial reports can be privately accessed in Web-like fashion. Websites are not necessary to benefit from an intranet, and, often, an intranet has a higher payback than a Website.

Extranets are networks that privately connect clients to a firm's internal network. Tax clients can fill out an online form or, more often, quickly access their accounting information, enhancing the firm's client service.

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