Practice Management news April 2009

Practice Management

Involve the younger generations in succession planning

Most people think that succession planning is a top down activity involving management and seasoned professionals. I suggest it is better to involve the younger generations as well so that they can help create a vision for what the organization aspires to and what it is really looking for in long-term leadership.
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Practice Management

Don't let trade secrets leave with employees

Desperate times can sometimes result in desperate measures. During an economic downturn, the pressure to generate revenue can be great. Economic espionage can result when employees are forced to come up with the next big idea or they have financial difficulties. Economic espionage is defined as the theft or misappropriation of trade secrets.
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Practice Management

52 Random insights to grow your business

1. Be careful of being too anxious to prove your value.2. Be willing to walk away from every sale.3. Be worth the price of admission.4. Become like the companies and people you admire.5. Brand your honesty.6. Build an asset so attractive that buyers will come looking for it.7. Build things worth noticing.8. Clearly define what you are a steward of.9. Create a product people can easily become obsessed with.10. Develop a system for dealing with customer complaints.11. Discover whether or not this is your own thinking.
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Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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This Week on AccountingWEB

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
WestArk RSVP and Fayette County Community Action Agency – organizations that received grant funding through the IRS Tax Counseling for the Elderly (TCE) program – spoke with AccountingWEB about how they assist senior citizens in their communities.
CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.
Retiring KPMG Centennial Professor of Accounting at the University of Texas at Austin McCombs School of Business Robert May, PhD talks with AccountingWEB about his rewarding forty-three-year career.
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