There’s an irrational fear of investing that has been building momentum across our country since 2008. A recent study from Nationwide¹ found consumers fear investing even more than death, with other fears such as healthcare coverage, unemployment and the lack of economic stability following in close pursuit.
Every business in the world runs into the same problem: limited resources. The choices businesses make in applying those resources are paramount to determining the level of success you can reach in your business.
Major gains in innovation within companies have been realized in 2013, as 94 percent of business leaders cited how innovation ties to sustainability and growth as a top organizational priority, up from 79 percent last year.
What's your most powerful new business tool? For almost every accountant I talk to, it's word of mouth. But when I ask them what they're doing to grow their referrals, I'm often met with an uncomfortable silence.
Michael Bohinc, CPA, is a baseball nut, the son of a plumber, and the owner of Keeping Score, Inc., an accounting, tax, and business management advisory services firm. So he combined his background as he developed an industry niche focused on plumbing and HVAC contractors.
Most top US accounting firms report that common sources of firm revenue growth include niche services, such as business valuations, litigation support, strategic planning, and business advisory services.
Of all the elements a CPA or financial advisor needs to consider in order to operate a successful wealth management practice, an effective client communication strategy ranks at the top of the list. Regular communication is critical to the long-term success of your firm, but it has to be done right.
According to an investigation by the U.S. Government Accountability Office (GAO), “Retirement plan providers are offering misleading or even false information about 401(k) rollovers that can cost participants thousands of dollars in additional fees.”
It's possible that at the times we find ourselves operating at our best, we are not actually helping clients solve problems, but instead helping them achieve their ideal outcomes. The best relationships we have with clients are characterized not by transactional problem-solving relationships, but rather by holistic relationship where we know what really matters to the client in business and in life.
This September, thousands of accountants from state CPA societies across the country tossed their spreadsheets aside to paint dorms at local women's shelters, tutor kids at the Boys and Girls Club, and serve countless meals to the hungry and homeless during the annual CPA Day of Service.
Regardless of the industry, all businesses have a need for an accounting firm. For Tom Palm, identifying the industry his firm wanted to work with was a strategic decision that helped him grow his business. Read why the niche approach works.
CPA firms in 2012 posted their first respectable increases in revenues since before the start of the recession; however, professional staff turnover last year rose approximately 50 percent across the board compared to 2011.
Forensic accounting and litigation support firm Boucher Stickley Group LLC (BSG), based in New York City, has merged with White Plains, New York-based WTP Advisors, a global tax and business advisory firm.
Accounting and business consulting firms Sax Macy Fromm & Co. PC (SMF), based in Clifton, New Jersey, and Bollam, Sheedy, Torani, & Co. LLP (BST), headquartered in Albany, New York, will merge, effective January 1, 2014.
One of the most complex business decisions an accounting practice will face is putting together a succession plan, but a recent survey conducted by the National Society of Accountants revealed that many firms do not have a plan in place.
Under normal circumstances, nobody likes to hear the words "CPA" and "locked up" in the same sentence. But for the past several years, countless CPAs across the country have enthusiastically done mock "jail time" for a great cause.