Busy season has begun, but most CPAs likely have not reached that stage of eighty-hour workweeks and gallons of coffee. It’s still early enough to make a few adjustments to your processes and client management strategies to avoid excess stress.
Forty-five percent of organizations in the United States experienced some type of fraud in the past two years, more than the global average of 37 percent, according to a recent global survey from Big Four firm PwC. In addition, two types of economic crimes are particularly on the rise: accounting fraud and bribery and corruption.
Employee turnover, in industries like accounting, has always been a problem. Too often, revolving workforces lead to increased training costs, inconsistent production, poor morale, and, consequently, reduced or limited profits.
The noise about using social media as a means to grow your business has become so constant it almost blends into the background at this point. With Facebook, Twitter, and LinkedIn pushing their advertising platforms and Google+ touting better search optimization, it’s inescapable.
It may seem counterintuitive, but it is during the worst economic times that finding and retaining quality employees is the hardest. There are several reasons for this, but the most candid is simply that good employees aren’t laid off first. In addition, most people are less likely to take a risk and seek a new job when the economy is struggling.
Scott Cytron has a public relations tip for you that has brought success to one of his clients no less than three times in the last month. It’s HARO (Help a Reporter Out), a database that enables you to respond to reporter queries that you normally would never know about, all for free and with a very minimal time commitment.
Philadelphia-based CPA and business consulting firm ParenteBeard LLC will open a new office in Baltimore after acquiring specialized consulting business Invotex. As part of the deal, twenty-six Invotex employees, including four partners, will join ParenteBeard, which now has nineteen offices in the United States.
On February 10, the US Treasury Department issued new final regulations pertaining to the employer mandate under the Patient Protection and Affordable Care Act of 2010. But the government dropped a bombshell in the new regulations: It postponed the start date of the employer mandate for certain employers to 2016 – the second extension approved in less than a year.
Ours is an unusual business, in that very few CPAs are actively involved in their communities and giving back compared to other professions. Many of my nonprofit clients over the years would ask, “Where are the CPAs?” I have a pat answer; they are “busy.”
The New Jersey Society of CPAs (NJSCPA) just released its "2013/14 NJSCPA Compensation & Benefits Study of Public Accounting Firms in New Jersey." Not limited to just salary, the report also covers such topics as incentive plans, health insurance, and training/development.
A recent study by RAND Corporation revealed that when it comes to workplace wellness programs, there may be a distinct difference in the type of programs that reduce costs and lower net savings. However, many accounting firm leaders say their workplace wellness programs do not have costs or savings in mind. Instead, they are designed to keep employees engaged, healthy, and happy.