For your small business owner clients, signing a personal guarantee has become standard practice as part of the commercial loan approval process. While this is often the price of doing business, what does a personal guarantee really mean?
When Abercrombie & Fitch ran into problems with properly completing I-9 forms, it turned out to be a seven-figure mistake. A $1,047,110 fine was imposed, even though there was no proof the retailer knowingly hired illegal workers.
Almost every firm I work with has a succession issue in the near term. Baby boomers are retiring at an accelerating rate, and firms are coping (or not) with the transition issues surrounding those exits.
If one of your clients recently applied for business credit and was rejected, he or she isn't alone. Learn five ways you can help a client whose business credit application was denied. A recent survey of banks and asset-based lenders found they had turned down more than a third of all businesses' applications for loans, according to Pepperdine University's 2013 Capital Markets Report.
When was the last time you came across something that guaranteed you 100 percent satisfaction or your money back? Okay, these types of offers are all around us, so let's drill down a bit to our profession. . . .
Firm owners are always looking for ways to save time and money. So why not take those findings to your clients? In other words, teach your clients what you've learned so that they, in turn, can save time and money and pay you for your consultative advice.
What do you think of when you hear the word "coach?" For most of us, it brings up thoughts of athletics and someone who has coached a team that we have been a part of or maybe one that we follow as a fan.
Take great care in sending a client an e-mail: the subject line should be brief, the greeting professional, and the message succinct. Your e-mail signature leaves the last impression, so it should look as professional as your business card.
All too often, companies trust that a potential business partner is creditworthy with very little evidence to support the assumption. CPAs can advise their clients on how to evaluate potential business partners, further instilling their role as trusted business advisors.
Adding a client assessment as a required short-term project for every new client – before agreeing to a long-term engagement – can provide countless benefits for you and the client. It can also help you uncover any unfortunate surprises early on.
Are you really getting paid for what you do? The debate between billable hours vs. value pricing has heated up in the accounting profession over the past few years, especially as technology continues to increase efficiency.
A constant topic of conversation is the age-old question of how to determine partner compensation. Every firm is a little bit different, but the issues surrounding how you split the pie are pretty consistent.
I continue to be amazed at the number of firms that have no partner agreements at all or haven't made revisions in many years. Remember, their primary purpose is to protect the firm and define the relationship between the firm and each partner.
Managers asking themselves, "Where does the day go?" may now have an answer. CFOs recently surveyed said that, on average, supervisors spend 17 percent of their time overseeing poorly performing employees.
In this interesting Q&A, Andrew Rose, Naden/Lean LLC’s director of Marketing and Business Development, talks about some specifics to managing a dental niche practice, his firm’s sweet spot, and how social media has changed the game.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.