Practice Management news October 2006

Practice Management

Tips for Overcoming Financial Complexity in Presentations

Presenting financial information to a non-financial audience presents several challenges. Whether you are presenting to a single individual, small group, or shareholders meetings, here are ten tips to help you communicate complex financial data effectively. Use visuals. It is difficult for some people to put numbers on a page, even numbers in a table, into a context they can understand. Help them out. Give them some visuals to go along with the information you are presenting.
Practice Management

Mark Your Calendar: Inter-Generational Marketing Team Teleconference

Is there a generation gap in your marketing department?Overcoming tensions between generations of talented, creative, high energy members of a marketing team is vital to increasing the success of a firm’s marketing efforts, not to mention improving office morale. On Thursday, October 26, Phyllis Weiss Haserot, President and founder of the Practice Development Council, will be presenting Resolving Inter-Generational Issues for Marketing and Marketing Teams as part of the Association for Accounting Marketing’s (AAM) Quarterly Virtual Learning Series.
Practice Management

Cohabitating Couples, Straight or Gay, Need to Know Rights

Now that the U.S. Census Bureau has found that married households are no longer the nation’s preferred living arrangement, the definition of “family-friendly” policies may change for a growing number of companies.For the first time, married couples make up a minority of the nation’s households, at 49.8 percent, according to the Census Bureau’s 2005 American Community Survey. Marriage did not play a part in 50.2 percent of roughly 111 million American family households.Single women headed 14 million households and single men headed 5 million.
Education & Careers

Downgrading Partners Could Cost Firm: EEOC Able to Seek Monetary Relief

The U.S. Supreme Court has declined to hear a petition filed on behalf of international law firm Sidley Austin Brown & Wood (Sidley & Austin) regarding the ability of the U.S. Equal Employment Opportunity Commission (EEOC) to pursue monetary damages and other individual victim-specific relief in the ongoing discrimination suit against the firm. The refusal comes just months after the number of workers age 55 and older reached 24.6 million, the highest level ever recorded, according to a study from Challenger, Gray & Christmas.
Practice Management

Devilish Employees: They’re a Year-Round Threat

Managers say the ghouls and goblins who traditionally show up on Halloween can strike at any time in the workplace. In fact, some spend about one-fifth of their time untangling personality conflicts among co-workers.Certain problem behaviors haunt executives throughout the year. A poll of 150 senior executives from the nation’s 1,000 largest companies revealed that 18 percent of their time is wasted resolving staff conflicts.
Practice Management

IPA Names Best Managed CPA Firms of 2006

Hundreds of certified public accounting (CPA) firms participated in INSIDE Public Accounting’s (IPA) Annual Benchmarking Survey.
Practice Management

Diversity and Turnover: An Unexpectedly Weak Link

Employees are more likely to quit if few of their co-workers share the same race. That’s the popular thinking among diversity consultants.
Practice Management

PCAOB Issues Fair Value Auditing Guidance

The Public Company Accounting Oversight Board (PCAOB) on Tuesday issued staff questions and answers providing direction for auditing a company’s estimation of the fair value of stock options granted to employees pursuant to Statement of Financial Accounting Standards No. 123 (Revised), Share-Based Payment (FAS 123R).This series of questions and answers is limited to addressing auditing the fair value measurements associated with determining compensation cost.
Practice Management

Legal, Tax & Regulatory Information Market to Exceed $18 Billion by 2009

Providers of legal, tax and regulatory information can look forward to a compound annual growth rate of 6.5 percent from 2006 to 2009, according to the first annual MarketVeiw report from Outsell, Inc., the only research and advisory firm for the worldwide information industry.
Practice Management

AICPA Tries Again with Proposed Valuation Standard for CPAs

The American Institute of Certified Public Accountants (AICPA) on Monday released an Exposure Draft of Proposed Statement on Standards for Valuation Services (SSVS) Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset.
Practice

Celebrating 70 Years of Winning Friends and Influencing People

In 1936, Dale Carnegie put pen to paper and created one of the most important business books of the modern age: How to Win Friends and Influence People.
Practice Management

Taking the Pain Out of Employee Performance Reviews

Pay and performance reviews are the most common causes of conflict between employees and their supervisors or managers. Globally, 32 percent of workers report pay reviews as the source of workplace conflict, while 19 percent cite performance reviews or not being considered for a promotion as the main cause of conflict, according to the latest Financial Directions Survey from Robert Half International. “Issues over pay and career progression are clearly a cause of stress for finance professionals.
Technology

NetSuite, “The Next Big Thing”, Ends Salesforce Sticker Shock

NetSuite, selected as one of five “the Next Big Thing” companies at http://www.sandhill.com/conferences/enter2006.php Enterprise 2006, has struck a blow to end sticker shock by offering life-time fixed subscription price for salesforce.com users migrating to NetSuite CRM+.
Practice Management

PCAOB Drafts Rewrites to AS2; Senior Administrators Moving On

Signs that the Public Company Accounting Oversight Board (PCAOB) is entering a new phase of its development came recently when the Board submitted a draft of changes to the Auditing Standard 2 (AS2) to the Securities and Exchange Commission (SEC) that are said to modify confusing definitions and eliminate the need for separate internal control and financial statements audits.
Education & Careers

Contentment Doesn’t Breed Confidence Among Accounting & Finance Professionals

The good news is that nearly three-quarters of accounting and finance professionals were still happy at work in September, according to the latest Hudson Employment Index for Accounting and Finance Workers. The bad news is their contentment didn’t translate into confidence, as the overall confidence level dropped 6.3 points, to 106.2 during the same period.These mixed signals, as accounting and finance professionals enter the fourth quarter, traditionally a strong period for industry workers as firms increase
Practice Management

Managing the Multidimensional Organization <i>by David Maister & Patrick McKenna</i>

Professional businesses today are structurally complex organizations with many senior people overburdened by time-consuming and often conflicting roles.
Practice

Technology Speeds Financial Close Process without Sacrificing Accuracy

Firms are still spending significant time and resources completing their reconciliation process despite technological advances that make it unnecessary. Increasingly tight regulatory guidelines, more stringent reporting requirements and complex operations over wide geographic regions, are only a few of the hurdles companies must overcome to achieve a faster, more efficient financial close process.
Practice Management

Ron Riebe Named Financial Executive of the Year

Ron Riebe, vice president of KeyBank, has been award the 2006 Financial Executive of the Year Award from the Institute of Management Accountants (IMA) and Robert Half International (RHI). “The Financial Executive of the Year Award recognizes best-in-class management accounting and finance professionals,” IMA President and chief executive officer (CEO) Paul Sharman said in a statement announcing this year’s winner. “As a national winner, Mr.
A&A

Home Depot Improves Small Businesses with Easy Access to Business Services

Small businesses looking for affordable business services can find them at Home Depot. More than 12,000 small business owners have registered for the Business ToolBox since it was launched by the world’s largest home improvement retailer. The program offers one-stop shopping for a collection of discount business services and products.
Community News

Congress Exempts CPAs from GLB Privacy Notification Requirement

Passing the Financial Services Regulatory Relief Act of 2006 was among the final actions taken by the 109th Congress before adjourning a week earlier than expected. The bill, passed unanimously by both chambers, includes a provision exempting certified public accountants (CPAs) from the Gramm-Leach-Bliley (GLB) Act’s annual privacy notice requirement.

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