Practice Management news November 2006

Tax

Churches Adopt Business Management Methods

Megachurches with memberships in the thousands and budgets in the millions are hiring more staff and consultants with business experience as they look to implement corporate management and accounting methods for their congregations.Advertisement
Practice Management

Pennsylvania Firm Sells Audit Group to Regional Ally

One of the manifestations of regulations separating external accounting from internal auditing is that accounting firms some times find themselves shedding a division in order to grow.Such is the case for Beard Miller Company, LLP. The Pennsylvania-based CPA firm, which goes by bmc, announced the sale of its internal auditing and compliance division to McKonly & Asbury, LLP, also of central Pennsylvania.
Practice Management

Keep Those Receipts: IRS Guidance on Per Diem Expense Reimbursement

Employers who routinely pay per diem allowances in excess of the federal per diem rates need to track the amount of expense reimbursement allowances paid to employees on a per diem basis, according to guidance issued last week by the Internal Revenue Service (IRS).
Practice Management

Mark Your Calendar: New England Practice Management Conference

On Thursday, November 30 and Friday, December 1, the Massachusetts Society of Certified Public Accountants (MSCPA) is presenting their Annual New England Practice Management Conference at the Mohegan Sun Casino in Uncasville, Conn. The conference will cover a variety of practice management topics, from staff retention and partner compensation, to leadership skills and succession planning.
Education & Careers

Firms Need to Attract New CPA’s

Accounting firms need to attract more students into the field to alleviate the severe talent drought, Leslie Murphy, chairwoman of the American Institute of Certified Public Accountants (AICPA), told an audience Wednesday.“Our profession has to do more to make it inclusive and attractive if we’re going to successfully compete with other career options available,” Murphy said in closing a conference in Boca Raton, Fla.Demand for accountants continues to grow due to trends in business and regulation, she said.“Business complexities mean it takes more time to complete routine acc
Practice Management

Stress at work: What keeps employees up at night

A recent survey reveals disturbing results showing 95 percent of managers feel life is stressful at the office. As a result, stress caused 28 percent to take time off from work. And stress at work is not restricted to managers."Stress in the workplace is a major issue for businesses,” Managing Director of SoftSkill EMEA, Kevin Young says of the study. “Helping people to manage stress can have a positive effect on their effectiveness at work and reduce the number of stress-related absences."
Practice Management

Accountants get another choice in professional liability insurance

The Navigators Group, an international insurance holding company, on Monday introduced APL InNAVation(sm) Accountants Professional Liability (APL) policy for accounting firms. “The accountants professional liability marketplace is underserved,” Brian Braden, Vice President of Navigators Pro, a division of Navigators Management Company, said in a prepared statement.
Practice Management

The One-Firm Firm Revisited <i>by David Maister and Jack Walker</i>

In 1985, one of us (David Maister) wrote an article for the Sloan Management Review called “The One-Firm Firm.” It identified a strategy common to leading firms across a broad array of professions — creating institutional loyalty and team focus.The firms named in that article were McKinsey, Goldman Sachs, Arthur Andersen, Hewitt Associates, and Latham & Watkins, where Jack Walker became managing partner three years later.If one is prepared to accept the argument that Accenture (formerly Andersen Consulting) is the legacy firm of Arthur Andersen, and not the defunct audit-based busi