Practice Management news July 2007

Practice Management

Financial leaders address challenges facing accounting, finance and audit professions

The future of the accounting, finance and audit professions will be largely determined by their response to escalating talent shortages and other challenges of the post-regulatory-reform era, says a distinguished group of leaders in these fields. The Robert Half International Financial Leadership Council, which includes many of the top financial minds in the United States and Canada, has recommended a number of strategies for addressing these issues.
Practice

Put staff first, clients will follow!

The situation is desperate. CPA firms are overwhelmed with client demands, and there's not enough staff to handle all the work. Employees are burning out and leaving public accounting, lured away by industry's signing bonuses and benefits packages. The time-tested formula of working longer and harder to increase profitability no longer applies.
Practice Management

'The new breed' - accountants embrace the entrepreneurial spirit

Business and practice software developer Sage claims to have discovered a "new breed" of accountant willing to embrace technology and an entrepreneurial approach to running their practice.In a survey of 267 practitioners entitled A new breed of accountant, Sage asked them to define themselves according to their growth ambitions and business aspirations in the following categories:Sole practitioner - offering traditional services to estab
Practice

How to protect data - a quick reference

The latest technologies and gadgets make it incredibly easy for your data to be stolen from right under your nose, unless you take steps to protect it.
Practice Management

Knowledge Management is all about people

Knowledge Management is all about people We don't like the unexpected. Storms, accidents, or even unexpected outcomes within our organizations. We like to be in control, we like order, and we like to predict events. The reality, however, is that organizations are nonlinear systems with behavior, like the weather, that is hard to predict.There is a confluence of events, equal to an organizational version of a perfect storm, that is brewing, and it will have consequences that are difficult to pinpoint.
Technology

Optimizing today's time and billing

Most partners would argue that, outside of the firm's tax and audit production applications, time and billing is the most mission critical program within today's tax and accounting firm. These tools have come a long way in recent years to incorporate enhanced features and processes of which many firms are not even aware. Roman Kepczyk, CPA, CITP discusses 10 time and billing best practices that should be incorporated into every firm. 
Practice

Shifting your firm’s culture: Wet Noodle or Deliberate Destiny?

We've all heard the expression, "Making changes in a firm is like trying to push a wet noodle across the table." This is especially true for firms that are busier than ever; the motivation to change just isn't there. If your firm is humming along with no need for change, congratulations, at least for now. If your firm has any of the symptoms listed below you may want to consider some of the best practices applied by firms who have made the transition from pushing the wet noodle across the table to having their staff and clients pull them in a new direction.

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