Practice Management news

A&A

PCAOB Backs New Auditing Standard on Related Parties

The new guidance adopted on Tuesday focuses on related-party transactions, significant unusual transactions, and a company’s financial relationships and transactions with its executive officers – key factors in many financial reporting frauds.
Practice

How to Become a Temporary Accountant

The financial labor force has changed, and now adaptable accountants can make a solid career by working as long-term temps, lowering job risk without sacrificing career growth or pay. "Temporary" may be the new name of the game.
Practice

How to Prospect While Volunteering at a Nonprofit

Accountants are always welcome members on the boards of nonprofits, and it's a chance to mix some business development with good works. But a soft-sell is essential.
A&A

Companies Shelling Out More Money to Finance Executives

Salaries for finance leaders in private and public companies in 2014 have increased 3.3 percent and 3.4 percent, respectively, according to a new survey released by Grant Thornton and the Financial Executives Research Foundation.
Practice

Intuit Injects Note of Caution on Cloud

Although the venerable accounting technology giant is onboard with the cloud, it advises firms to give a lot of thought and to take care of the details before making the move.
Practice

Tech Review: Keeping Track of Your Email Time

Email seems to take up a lot of your day—but do you know how much? There's a service that will time you, so you can see how much time you and your staff are spending (or wasting) on Outlook.
A&A

Economic Optimism Among CPAs Climbs Upward: AICPA

The number of CPAs and financial executives who are optimistic about the US economy has surpassed the 50 percent mark for the first time since the recession, according to a new AICPA survey released on Thursday.
A&A

Many Companies Slow to Implement 2013 COSO Framework

According to a new Protiviti survey, 48 percent of the more than 600 audit executives and professionals surveyed reported that their organization had not yet applied the new internal control framework as of the first quarter of 2014.
Education & Careers

AICPA Task Force May Turn CPE on Its Head

An AICPA task force report challenges CPAs to think about learning in new ways. From 10-minute for-credit webinars to the use of game elements, tomorrow's CPE may look very different.
A&A

Lawmakers Oppose Proposed Changes to Accounting Method

In a letter last week, a bipartisan group of more than 110 House legislators urged Ways and Means Committee Chairman Dave Camp not to repeal the last in, first out inventory accounting measure in his tax reform plan.
A&A

Deal with Rothstein Kass Makes KPMG US Hedge Fund Leader

KPMG officials said the acquisition, which will be finalized in the coming weeks, will boost the Big Four firm’s presence in the alternative investments industry and capital markets, including hedge funds.
Practice

Don't Get Caught in an EEOC Discrimination Nightmare

Whether accountants are firm owners, business executives, or just employees, a little knowledge of the EEOC can save money and avoid legal proceedings.
A&A

FASB, IASB to Hold Revenue Recognition Webcast on June 5

The one-hour broadcast will provide an overview of the new accounting rule, as well as information on such topics as recognizing revenue over time, contract costs, disclosures, transition, and effective date.
A&A

FASB, IASB Unveil Final Standard on Revenue Recognition

The two standard-setting boards announced the release of the converged standard on the recognition of revenue from contracts with customers on Wednesday morning – the culmination of a joint project that has been in the works since 2008.
Practice

How to Handle the Executive Client

Senior corporate executives make fast decisions. They typically don't pushback on fees. They usually aren't high maintenance. But working with them is a high-wire act. Learn their psychology.
Practice Management

Know the Roth 401(k) Rules—Or Get Left Behind

Half of all employers now offer Roth 401(k)s, and they're proving popular with young affluent employees. Accountants should educate themselves on their provisions.
Practice

New IRS Program to Give Penalty Relief to Small Business Retirement Plans

The one-year pilot program that will start in June is intended to help small businesses with retirement plans that owe penalties for unknowingly failing to file reporting documents.
Practice

How to Help Clients with Credit Problems

Maybe your job description doesn't include "credit repair specialist," but some of your clients likely have credit problems, and you should know how to give them some first aid. Help them separate the good advice from the bad.
Practice

Thomson Reuters Releases Affordable Care Act Content Marketing Solutions for Tax, Accounting, and Employee Benefits Firms

Thomson Reuters has released a tax act overview and monthly client marketing newsletter focused on the Affordable Care Act (ACA). The overview provides a summary of key tax-related provisions of the ACA that employers should prioritize in their planning.
Practice

How Accountants Can Really Market Themselves

When it comes to “accounting marketing,” you're getting serious—this isn't about some late-night infomercial or selling Girl Scout cookies door-to-door. You are your brand. It's time to ask yourself the big questions.

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