Practice Management news

Practice Management

Ten Tips For Better Technology Management in Your Firm

Simply knowing the rules will not turn you into a technology guru, but it will enable you to participate in the development of a technology strategy for your firm. Below are ten tips provided by Gary Boomer of Boomer Consulting. Technology is a Strategic Asset: Many people, including accountants, often try to manage technology as though it were overhead. This approach ensures frustration because expectations are always greater than the resources committed.
Practice Management

Making Ethical Decisions - Part Five: Obstacles to Ethical Decision Making

Reprinted from Ethics in Action with permission of the Josephson Institute of Ethics. © 2002 Josephson Institute of EthicsObstacles to Ethical Decision Making: Rationalizations...We judge ourselves by our best intentions, our noblest acts and our most virtuous habits. But others tend to judge us by our last worst act. So in making tough decisions, don’t be distracted by rationalizations. Here are some of the most common ones:If It’s Necessary, It’s EthicalThis rationalization rests on the false assumption that necessity breeds propriety.
Community News

Build Better Business Partnerships and Alliances

There can be disastrous results when care is not taken to build a solid foundation under which a new Business Partnership or Alliance can safely develop strength and stability.
Practice Management

Niche-Building in Professional Services Firms

Many professional service firms are creating specialty areas within their practices and in some cases whole new “offspring” companies to respond to the changing demands of clients and to create growth opportunities for associates and younger staff.Among the three types of professional service firms, CPA firms are for once being viewed as exciting because they continue to experience the most change, which for junior staff in the midsize and smaller-sized firms is being translated into new opportunities.
Community News

Making Ethical Decisions - Part Four: The Seven-Step Path to Better Decisions

Reprinted from Ethics in Action with permission of the Josephson Institute of Ethics. © 2002 Josephson Institute of EthicsThe Seven-Step Path to Better Decisions...1. STOP AND THINKOne of the most important steps to better decisions is the oldest advice in the world: think ahead. To do so it’s necessary to first stop the momentum of events long enough to permit calm analysis.
Practice Management

Treat Employees Fairly But Not Equally

By Bruce L. Katcher, Ph.D. President of The Discovery GroupPart 1 - THE PROBLEM:Our research shows that 6 of 10 employees believe that their company is doing a poor job of applying personnel policies and procedures fairly. When employees feel they are not administered fairly they lose respect for management, build up resentment toward their fellow co-workers, and lose motivation for their work.
Practice Management

Free Report - Investigations 101

From lewd behavior to careless conduct and gross misconduct, employers face many different complaints that require prompt and thorough investigations followed by appropriate corrective actions.
Practice Management

What Do Your Clients Really Want?

It's really no secret what your clients and prospects want, they want solutions and leadership. Solutions and leadership demonstrate value to a client. These come from a thorough knowledge of the client's objectives, strategies, existing circumstances, competitive position, and personnel.
Practice Management

Making Ethical Decisions - Part Three: Groundwork For Making Effective Decisions

Reprinted from Ethics in Action with permission of the Josephson Institute of Ethics. © 2002 Josephson Institute of EthicsGroundwork for Making Effective Decisions...Whether or not we realize it at the time, all our words, actions and attitudes reflect choices. A foundation to good decision-making is acceptance of two core principles:- we all have the power to decide what we do and what we say, and - we are morally responsible for the consequences of our choices. Sometimes the power to choose is not self-evident.
Practice

Knowledge Management For CPA Firms

By Roman H. Kepczyk, CPA The influence of technology is being felt in every business today, especially in light of discussions stating that a company’s ability to adapt to new technologies and to maximize the "intellectual capital" within the organization, may be the last (and only sustainable) competitive business advantage. This is especially true within service organizations such as CPA Firms, where the higher value capabilities of tax, audit, and business consulting usually reside in the minds of personnel.
Education & Careers

Making Ethical Decisions - Part Two: The Six Pillars of Character...

Reprinted from Ethics in Action with permission of the Josephson Institute of Ethics. © 2002 Josephson Institute of Ethics(View Making Ethical Decisions - Part One: Making Sense of Ethics)The Six Pillars of Character...Trustworthiness. Respect. Responsibility. Fairness. Caring. Citizenship. The Six Pillars of Character are ethical values to guide our choices.
Community News

Either Lead, Follow or Get Out of The Way

Executives give their peers just passing grades on leadership abilities, according to a new survey. Sixty-one percent of senior managers polled characterized today's corporate leaders as good or excellent in their roles. More than a third (36 percent) of survey respondents said executives today are doing only a fair job.Accountemps, the world's first and largest temporary staffing service for accounting, finance and bookkeeping professionals, developed the survey.
Community News

The Importance of Succession Planning

Compliments of The Change Management Group"Having succession planning and a management development process is the training of people, giving them assignments so they can build new strengths, and having very candid discussions about their performance. When you have that, you are building the most effective leaders possible." - Bruce Bunch, General ElectricLess than 15 percent of companies address the need for a top leadership succession plan.
Practice

Hubris And Greed Common Traits in Fallen CEOs

Was it perseverance or hubris that led the founders of some disgraced corporations to deviate from the law on behalf of the companies they built from scratch? "When you're the founder, you think you can do anything and that the rules don't apply to you," says Mark Cheffers, CEO of AccountingMalpractice.com.
Practice Management

Warren Buffett Speaks Out on CEO Compensation

This past weekend Berkshire Hathaway Chairman Warren Buffet had a few things to say about CEO compensation. At an annual stockholder’s meeting, which Mr. Buffett dubs “Woodstock for Capitalists,” Mr. Buffet told shareholders that many CEOs are paid too much. Mr. Buffett also said that stock options are unfair because good executives can be hurt when the market is on a downturn and poor executives can profit during a boom.Mr. Buffett isn’t alone in thinking that current compensation methods don’t properly reward executive performance.
Education & Careers

Making Ethical Decisions - Part One: Making Sense of Ethics...

Reprinted from Ethics in Action with permission of the Josephson Institute of Ethics. © 2002 Josephson Institute of EthicsPart One of FiveMaking Sense of Ethics...Should I lie on a job application to spare my children from being thrown in the street? Should I ignore my boss’s hypocrisies to keep my position? Making ethical decisions can be difficult. We make most of them in a world of economic, professional and social pressures, which can obscure moral issues. Often we don’t know or understand crucial facts.
Practice

The 2002 Winners: 101 Dumbest Moments in Business

Business 2.0 has published its third annual listing of what it calls "the most ill-conceived, embarrassing, and downright appalling developments of the past year," aptly dubbed the 101 Dumbest Moments in Business.The listing is off and running with the Grand Prize winner of the 2002 dumbest moment, Midas, the company that featured an elderly women in its television ads baring her chest off camera to a supposed Midas mechanic and asking, "So what can you do with these?" Other amusing award winners include the short-lived ABC television entry into the Fall 2002 lineup, "Push, Nevada," the
Practice Management

Nine No-Fail Tips For Becoming an Undisputed Value Leader

Looking to become the superior value provider in your industry? You are if you want to keep your customers from going elsewhere, says R. Eric Reidenbach, Ph.D., principal and founding partner of VALTec Group, Inc. and co-author (along with colleagues Reginald W. Goeke, Ed.D. and Gordon W. McClung, Ph.D.) of Dominating Markets with Value: Advances in Customer Value Management.
Practice Management

Ten Steps to Branding Your Firm

by Terri M. Sommella, Sommella Market StrategiesStudies show that 75% of firms are either in the process of a branding campaign or are considering one. Why? Succinctly put, branding creates differentiation and client loyalty. It is the purposeful development of a personal relationship between the client and the product or service. A brand is not all consuming but rather, represents a piece of the whole, one aspect of the firm.
Practice Management

Ideas to Improve The Quality of Your Firm

by Nancy Blodgett, President of Performance ExcellenceAdjust Your AttitudeBe open to new ideas!Make time for quality improvement. Don’t manage by fear. Help people feel secure in their jobs.Don’t let the statement: "we’ve always done it this way," keep the firm from trying new approaches to problem-solving. Change the "Us vs. Them" culture of management and staff by adopting quality principles and methods.

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