Practice Management news

Practice

Could Accounting Firms Operate Without Job Titles?

I'd imagine having no job title makes it difficult to explain what you do at parties.
Practice

For CPAs, Workplace Wellness Programs Transcend the Fiscal Bottom Line

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.
Practice

Bramwell’s Lunch Beat: The Merits of Mentoring

Here are “Bramwell’s Lunch Beat” menu items for January 23.
Practice

Here Are Some Best Practices for Admitting New Partners to Your Accounting Firm

As we work through the succession and retirement of senior partners in our firms, a lot of us are also reviewing and updating our internal documents and agreements. A key part of the update should be focused around how we bring new partners into the firm to replace the “old guys."
Practice

Three Attainable PR Goals Accounting Firms Can Set for 2014

Based on my history of breaking them moments after I've set them, I'm not a big proponent of setting New Year's resolutions.
Community News

CFOs More Likely to Outsource Accounting and Finance Projects

Areas of general accounting and finance – including forecasts and budgets, financial reporting, and mergers and acquisitions – were cited by more than half of CFOs as projects they would likely outsource to financial consultants and interim managers in the next twelve months, according to a recent survey.
Practice

How Federal Contractors Can Navigate the Maze of Affirmative Action Compliance

This summer, Tufts Associated Health Plans Inc. agreed to pay more than $370,000 to settle allegations that it violated federal contract compliance regulations by retaliating against victims of discrimination.
Practice

Mandating Flu Vaccines: What Employers Should Know

Seasonal flu is not only unpleasant, it's expensive. Each flu season, nearly 111 million workdays are lost because of the flu, which represents approximately $7 billion per year in sick days and lost productivity.
Practice

Learning Beyond Technical Training

Most accountants possess a similar level of technical training as their peers, but the most successful firms are those creating a true learning culture in which business processes, soft skills, and the art of running a company are all taught and viewed as crucially important.
Practice

NSA Offers Tips for Successful Succession Planning

One of the most complex business decisions an accounting practice will face is putting together a succession plan, but a recent survey conducted by the National Society of Accountants revealed that many firms do not have a plan in place.
Practice

I Want to Retire, so What's Next?

More than two thirds of accounting firms have no plan for succession. Before you dust off your fishing gear or head for the warmth and sunshine, read about taking those important next steps and by all means offer your insights and advice in today's discussion, I want to retire, so what's next?.
Practice

Modern Technology Lacking in Most Small Businesses

Although a little more than half of small business owners who were recently surveyed use technology for accounting, only a minority use automated technology for other key business operations, such as appointment booking and scheduling, CRM, and acquisition marketing.
Practice

What Gives the Next Generation an E.D.G.E.?

The implication to today’s senior leaders is clear: to be the best version of itself in the future, the firm must start today by understanding, nurturing and involving their next generation. The firms that get this right will be the benefactors of growth, sustainability and meaning.
Practice

Key Considerations When Buying a Firm

Thinking of buying a firm but not sure where to start? That question is being contemplated more and more every day with more mergers, acquisitions and consolidation taking place across the accounting and wealth management industry today.
Practice

HR Corner Q&A: Can I Force a Sick Employee to Go Home?

Question: Can you force an employee to go home who is coughing, sneezing, hacking and has a runny nose? The employee is out of sick leave but has vacation leave available to use. The employee is exempt.
Practice

Loss Prevention for Accountants: Avoiding Malpractice, Litigation while Keeping Your Clients Happy

The accounting profession first became a lucrative target for plaintiffs' lawyers after the savings and loan industry collapsed in the mid-1980s, and little has changed since then.
Practice

Finding Skilled Professionals Remains a Challenge for Small Businesses

What's the greatest challenge for small business owners when it comes to hiring and managing staff? Sixty percent of business owners who were recently surveyed said finding skilled professionals is the biggest hurdle.
Practice

Thanks to the Supreme Court: Narrower Definition of "Supervisor" Provides Opportunities for Employers

On June 24, 2013, the US Supreme Court narrowed the definition of who qualifies as a "supervisor" for the purposes of harassment cases. This holding is a significant win for employers.
Practice

Heart Smart: Firm's Giving Is Grassroots Employee Effort

For many accounting firms today, charitable giving is simply a daily part of doing business, as CPAs increasingly look to firm leadership to provide an outlet for their natural inclination to give back.
Practice

How to Nurture Young Talent in Your Firm

There once was a time when young CPAs got in line at a firm and “waited their turn” to become partner. Today, a number of factors are challenging this apprenticeship model. According to the AICPA’s 2012 PCPS Succession Survey, less than half of multi-owner practices have succession plans in place, and 42 percent point to a lack of confidence in the leadership ability of junior partners as the single largest succession issue.

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