Practice Management news July 2006

Practice Management

CFOs Value Communication But Firms Don’t Provide Training

Communication skills have grown in importance for accounting and finance professionals, but workers may be on their own when it comes to developing this expertise, a new survey from Accountemps shows. Among chief financial officers (CFOs) surveyed, 75 percent said that verbal, written and interpersonal skills are more valuable now to accounting and finance professionals than they were just five years ago.
Practice Management

Reports Detail Massive Abuses at Homeland Security

A congressional report released Thursday slammed the Department of Homeland Security (DHS) for wasting hundreds of millions of dollars in hurricane relief and national security money on frivolous purchases and mismanagement of contracts.The report, prepared by staff of the House Committee on Government Reform, echoed an investigative report issued last week by the Government Accountability Office (GAO). It highlighted several examples involving the agencies within the massive department formed after 9/11.
Practice Management

NC State Wins Annual Student Case Competition

Representing North Carolina State University, the team of Hannah Sadler, of Cary, N.C., and Jason Matthews, originally from Kansas City, Mo., and currently of Raleigh, N.C., were declared the winner of the Institute of Management Accountants’ (IMA’s) annual Student Case Competition following a live finalist presentation at IMA’s Annual Conference and Exposition.“IMA’s student Case competition is an excellent opportunity for accounting students to develop their strategic planning, decision making and presentation skills – critical skills required for success in the management acc
Practice

White Paper Overview: Old Dogs & New Tricks

People have always been willing to change in order to improve the future. Consequently, old dogs can learn new tricks as they find more effective ways to adapt and leverage new technology, methods, processes, ideas, and social networks that help them improve the return on the investment they make in human capital. But can they create new tricks?According to Ron Baker, author of the white paper “Old Dogs Can’t Create New Tricks,” it’s not likely. Basically, what he means is that the older we get the less likely we are to create a ground breaking innovation.
Community News

PKF Texas Airs Best Practice Tips on BusinessMakers Radio Show

The Entrepreneur’s Playbook, a new radio series from Pannell Kerr Forster of Texas P.C. (PKF Texas), airs Saturdays during the BusinessMakers Radio Show on FM News Channel 97.5. Gregory Price, Director of Consulting Services, has been invited to be the voice of PKF Texas’ Entrepreneur’s Playbook, which will offer best practice tips, trends and insights on topics such as blogs, human capital, profit enhancement and cash management.The BusinessMakers™ Radio Show is a two hour weekend radio talk show passionately focused on free enterprise and entrepreneurialism.
Practice Management

Six Ways to Avoid the Summer Sales Slowdown

"You hear people say it all the time: business is just slow in the summer," says Steve Johnson, co-author of Selling Is Everyone's Business: What It Takes to Create a Great Salesperson (Wiley, 2006, ISBN: 0-471-77673-4, $24.95). "For many sales organizations, it seems acceptable to slack off, to cut corners, to put off making the tough calls because 'everyone's on vacation' or 'no one's in the mood to make big decisions.' Well, naturally if you expect business to be slow, it will be slow."So how can you keep your sales force from falling prey to the self-fulfilling slow summer prophecy?
Practice Management

Travel expense management systems can save time, money

Automated expense management offers real advantages to employees and management, ranging from significant cost savings to companies on travel expense processing to reducing the time it takes for an employee to fill out a spreadsheet expense report or a paper report. The technology is also designed to detect fraud and to document approval processes, which appeals to financial managers focused on Sarbanes-Oxley (SOX) compliance.
Practice

Professional Accounting Societies Applaud COSO Small Business Guidance

The American Institute of Certified Public Accountants (AICPA) and the Institute of Management Accountants have both affirmed support for new guidance for smaller public companies released during a webcast on July 11 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
Practice Management

Daimler Plan to Outsource Accounting Sparks Opposition

DaimlerChrysler may outsource some of its accounting work to countries that pay lower wages, German media sources reported.According to the company’s works council, the German-U.S. car manufacturer is considering the Czech Republic and India for some of the company's accounting work. The works council opposes the outsourcing plan and has threatened a veto. "We are saying without a balance of interest this simply won't fly," said Erich Klemm, head of the council, according to a report in Monday’s Stuttgarter Zeitung.
Practice Management

A Conversation about the Price of Success with Paul Sharman

It started with a simple question: What is an accountant? Fortunately, my conversation with Paul Sharman, President and CEO of the Institute of Management Accountants (IMA), didn’t end there. Instead, it evolved into a discussion of the image of accountants and the future of accounting as a career in the U.S. and around the world. Sharman has established an entirely new direction for the IMA since being asked to manage the association’s operations.