Practice Management news

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.
Community News

Building Your Firm One Step at a Time

By, The Marcus LetterThere is no shortage of advice about how to build a marketing program. There are books, articles, consultants, seminars. If you really want to do it, there’s something or somebody around to tell you how. Even if you cut away some of the nonsense about marketing an accounting firm, there’s still a lot of good information available.The trouble with it is that for many firms, most of it is unrealistic. There’s too much. It’s overwhelming.
Practice Management

Tips For Effective Internal Investigations

by Stuart R. Buttrick, Baker & DanielsEmployers are forced to defend themselves against large numbers of EEOC charges and lawsuits, many of which could be avoided by prompt and effective internal investigations. A primary goal of any human resource or EEO officer should be to have an effective mechanism for allowing work-related complaints to be resolved internally.
A&A

Top Executives’ Pensions Protected in Bankruptcy Filings

Even in the wake of significant layoffs, some companies are reportedly making use of trusts and other creative arrangements to protect their top executives’ huge pensions, which are not usually covered by pension insurance when a company declares bankruptcy.Airlines such as Delta and United have taken steps to protect their top executives’ pensions as the airline industry struggles to regain its footing after the Sept.
Practice

Free Report - Reinstatement Rights For Military Leave

While employers might be in compliance with the Federal Uniformed Services Employment and Reemployment Rights Act (USERRA), they might be missing crucial state military leave laws that could subject their companies to unknown costly legal liabilities.
Practice Management

When Management Ignores Employee Suggestions - What Can Your Firm Do?

By Bruce L. Katcher, Ph.D. President of The Discovery GroupOur research shows that 7 out of 10 employees believe that management does not act on employee suggestions. Here's why this is a problem.Good Suggestions Slip Through the CracksOne of the major lessons of the quality improvement movement has been that employees who actually perform the work usually have very good suggestions for improving the work. Ignoring their ideas is a sure prescription for inefficiency and reduced profitability.Employees Lose Trust in Managemen
Practice Management

Time And Billing Survey Reveals CPA Concerns

A recent survey of over 2,200 CPA firms ranked the popularity of over 84 different time and billing systems, identified features that are critical, and revealed certain frustrations that CPAs have about the systems that they use. The survey was commissioned by the Management of an Accounting Practice Committee of PCPS, and was developed in conjunction with cpa2biz, and the AICPA.
Practice Management

Marketplace Starts Reacting to Deloitte’s Consulting Decision

Deloitte’s decision last week not to separate its consulting arm is beginning to show its affects in the marketplace.Because of perceived independence issues, General Motors Corporation has announced that it will pull all of its consulting work from Deloitte, a move that amounts to a loss to the accounting firm of about $80 million worth of work.Last week, Clorox and Auto Nation – who are both audit and consulting clients of Deloitte - announced that they would begin shopping for a new auditor.Despite all of the recent scrutiny on the perc
Practice Management

A Bed, A Breakfast, And a 1040

Every business looks for a way to distinguish itself from the competition. CPA and Bed & Breakfast owner Kevin Marshall decided to tie his two interests together. While guests relax for the night and have a delightful breakfast at his Dutch Iris Inn in Granby, Connecticut, Kevin Marshall will prepare the guest's tax returns and have the forms ready to go at checkout time. The overnight package includes preparation of the 2002 Federal and Connecticut tax returns, a night's accommodations and breakfast for two in the morning.
Practice Management

CPA Firm Jumps on Mortgage Bandwagon

Practice Management Idea!
Community News

PwC Chief Criticizes Deloitte’s Decision to Keep Consulting

In a rare display of public discord among the Big Four firms, Samuel DiPiazza, chief executive of PricewaterhouseCoopers, has expressed concern over rival Deloitte Touche Tohmatsu’s decision to keep its consulting business in house, instead of selling it off as the other large firms have done. He believes that decision shows a "lack of sensitivity" and runs counter to other firms’ efforts to help restore the profession’s integrity.In an interview with the Financial Times, Mr.
Community News

Crowe Chizek Rebrands And Restructures For Growth

Big 10 CPA firm Crowe, Chizek and Company LLP has announced a corporate restructuring to better allow it to integrate company services, strategic alliances and joint ventures for the future. All services of the firm will now be coordinated under the umbrella of a new holding company, Crowe Group LLP.
Practice Management

Grassley Urges Caution When Using Paid Tax Preparers

Disturbed by what he heard at a hearing on taxpayer issues, Senator Charles Grassley, Chairman of the Senate Finance Committee, has issued a statement urging taxpayers to exercise caution when hiring a paid tax preparer.Sen. Grassley’s caution comes after hearing from the General Accounting Office who estimated that over half of US taxpayers who overpay their taxes had employed the services of a paid tax preparer.
Practice Management

Tips on Collecting Receivables

The end of tax season for a CPA firm marks the end of a 90-day sprint and the beginning of what most firms hope to be their biggest cash payoff of the year.However, many firms get caught in the receivables trap, and what should be a windfall for the firm turns into slow paying clients, accounts receivable headaches and frustrated owners.Here are some tips to help you collect the money your clients owe.
A&A

GASB Issues Deposit And Investment Risk Disclosures Standard

Press ReleaseIn an effort to provide the public with better information about the risks that could potentially impact a government’s ability to provide services and pay its debts, the Governmental Accounting Standards Board (GASB) has published Statement No. 40, Deposit and Investment Risk Disclosures, an amendment of GASB Statement No. 3. The Statement amends GASB Statement No.
Practice

Ex-Con Tells How Auditors Fail to Help Clients Guard Against Fraud

Mark Morze is in the news pretty often. Reason: He has the dubious distinction of having perpetrated one of the biggest and most brazen financial frauds in American history. While the 1980s may seem like ancient history to many, it was the decade in which the ZZZZ Best carpet-cleaning company soared and crashed, leaving a twisted trail of criminal devastation that took prosecutors, regulators and judges years to sort out.
Practice Management

The Laser Approach - Increase Your Networking Techniques

Always begin with the phrase "You know how" followed by a couple of common problems your clients normally experience. Then follow up by saying, "What I do is" and continue with several key points, benefits or value propositions as to how your product or service solves these problems. For example, if you are a consultant, you can say, "You know how some businesses experience poor staff performance and productivity which can wind up costing the company time and money?" Allow the person to respond, demonstrating you have their attention and they are interested in what you have to say.
Practice

European Commission Dashes Hopes For Audit Liability Caps

With a declaration that unlimited liability on auditors is a "quality driver," the European Commission has all but closed the door on any discussion of limiting the size of lawsuits that can be levied against accounting firms that perform public audits.Last month, AccountingWEB reported that a move was on to lobby the European Commission - the executive arm of the European Union - to cap the legal liability of auditing firms.
Practice Management

Free Report: 'Q&A on Exempt Vs. Non-Exempt'

One of the most confusing and problematic issues under the Fair Labor Standards Act (FLSA) is who is exempt and who is not, especially when it comes to overtime. Answer this question right, and an employer could save millions. But answer this question wrong, and an employer could be pushed into a never-ending nightmare of fines and lawsuits that will eat away at a company's bottom line. The free report, Q&A On Exempt Vs.
Practice

'The Dog Ate My Suit' And Other Creative Excuses From Tardy Employees

Everyone's had them -- mornings when what can go wrong does. In a recent survey, executives revealed the most unusual explanations they've heard from tardy employees -- everything from pet-related problems to long lines at the coffee shop. Accountemps, the temporary staffing service for accounting, finance and bookkeeping professionals, developed the survey.

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