Practice Management news

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.
Practice

Buying Out Retiring Partners: What Does It Take?

Does your firm's partner agreement contain the necessary elements to buy out retiring partners in the near future? Perhaps you haven't looked at the agreement in several years, or maybe your firm doesn't even have one. Here are tips on what it takes to make partner buyouts successful.
Practice

The Inverted Pyramid - Does This Look Like Your Firm?

There's no question that the most profitable firms (defined as high-per-partner income) in our profession have figured out that leverage and a well-managed pyramid are key ingredients. Why is it then that so many firms are struggling with just the opposite?
Practice

Managing the Rise of Baseless Whistleblower Retaliation Claims

In fiscal 2012, the US Department of Labor's Occupational Safety and Health Administration (OSHA) reported that employees filed almost 2,787 whistleblower retaliation claims.
Practice

How Entrepreneurs Should Use Their Accountants

While "big data" has become a buzzword and the ability to readily capture data to inform business decisions has significantly increased in recent years, overlooked in this data grab is the importance of financial data and accountants, specifically.
Practice

Tips for Productive Partner Retreats

Partner retreats, while often taking place in relaxing atmospheres, typically are anything but relaxing. However, the importance they have to the firm and for those invested in the future of the firm cannot be underestimated.
Practice

October 1 Deadline Looms for Obamacare Notices

The common perception is that most of the key provisions included in the Patient Protection and Affordable Care Act take effect in 2014. But employers should be advised that other responsibilities and rights kick in before then.
Practice

Top Priorities for CPA Firms: Retaining and Training Staff

Staffing is among the top management issues facing CPA firms, according to a recent survey by Sageworks. That's not surprising, considering many firms are experiencing a staffing crisis as they lose significant percentages of top staff.
Practice

Three Indicators of Creditworthiness for Your Business Clients

Are your business clients applying for a loan? Sageworks Research Specialist Mary Ellen Biery outlines three indicators of creditworthiness and how your clients can improve them.
Practice

Maintaining Wage and Hour Compliance in 2013

Over the past six years or so, wage and hour lawsuits have become, if not commonplace, extremely prevalent. This trend, fueled by a large number of workers displaced following the financial crisis and stoked by successful settlements and court rulings over the past several years, is unlikely to end anytime soon.
Practice

Twelve Voice Mail Greetings That Will Make You Laugh

Jeff Davidson, "The Work-Life Balance Expert," had some extra time on his hands this week and had probably heard one too many voice mail greetings. Here's his solution to run-of-the-mill recorded greetings.
Practice

Tips for Running a Productive Meeting with Small Business Clients

Handling a client meeting with professional efficiency does not mean ticking through agenda items with military precision. The meeting needs to be handled with efficiency and finesse. Preplanning ensures the meeting will be productive and efficiently managed.
Practice

The Myth of "I Can't"

What you believe is the most important thing about you. To accomplish something you never accomplished before, you need to challenge those beliefs.
Practice

Due Diligence Found Lacking in Recent Case

Exercising due diligence is a big deal to the IRS. CPA Tim W. Kaskey discovered that the hard way. He was disbarred for failing to exercise due diligence in preparing tax returns for a corporation and its husband and wife shareholders.
Practice

How a Firm Makes the Vault Accounting 50

This is the fourth year that Vault has released its top fifty rankings. During the summer and fall of each year, Vault determines which firms should be included in its initial pool of candidates.

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