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Practice Management

The 3 Biggest Mistakes Women CPAs Make in Selling (That Men Don't) and How to Cure Them! <b>A Guest Article by Allan Boress</b>

Over the years I have attended more than 400 sales interviews conducted by clients to evaluate how they performed and where they needed to improve.As the author of the only Best Practices study of selling professional services (The I-Hate-Selling Book), I have interviewed some of the most successful women professionals to discover why they succeeded at selling – and how.There are 3 Mistakes women make in selling…most often without realizing them…that costs sales, clients and opportunities that otherwise would have been won.
A&A

Tricks for Taming the Specter of Month-End Reporting

In almost every business, the end of the month inevitably brings with it the need to generate and distribute a variety of reports. Many products market themselves saying they make month-end reporting simpler and more efficient. Some even promise to automate the process. Yet somehow, the month-end reporting always ends up in the lap of the office’s Excel guru.
A&A

September Payrolls Higher Than Predicted

Hurricane Katrina drove thousands of people from their jobs, and economists say the jobs picture will worsen before it improves.In September, 35,000 nonfarm jobs were lost, according to the U.S. Department of Labor, but economists had estimated 150,000 lost jobs in the wake of the Aug. 29 Gulf Coast disaster.
A&A

New Tools Solve Complicated Requirements for Funds & Individual Investors

GainsKeeper®, part of Wolters Kluwer Corporate & Financial Services division, addes new tax reporting tools to its three industry-leading tax lot accounting suites – GKAdvisor™ used by funds, GKBrokerage™ for shareholders, and FundTax™ used by individual investors – in September.“Our tax lot accounting suites offer an automated solution designed to calculate key fund and investor figures, allowing both professionals and individual investors to spend significantly less time compiling and attempting to make calculations based on tax- relevant date,” Sanjeev Doss, GainsKeeper di
A&A

Journal of Investment Compliance Acquired by Emerald

The Journal of Investment Compliance has been acquired by Emerald Group Publishing Limited from U.S. publisher Institutional Investor, Incorporated.
Practice Management

Using Excel Solver

What-if scenarios are useful business tools. They can help business-owners and other decision makers analyze the efects of their actions before they are implemented. Fortunately, Microsoft Excel offers decision makers a useful tool, called Solver, to help users explore what-if scenarios.Using Excel Solver, you can find the minimum or maximum value for a single cell, by modifying other cells that are directly or indirectly related to the target formula. The minimum or maximum value that is found by modifying other cells is called a target cell and the target formula resides in this cell.
Practice Management

Survey Finds Small Business Planning Lacking

Small businesses are built with their owners’ sweat and diligence but a new survey shows they are giving little thought to their business’ futures. The survey released last month and sponsored by Papalia Financial, shows that 85 percent of the respondents acknowledge that they are not content with their current financial planning according to their prepared statement. 200 small business owners in Connecticut, New Jersey, New York, and Pennsylvania participated in this survey.
A&A

Small Business Accounting Software Market Expanding

A new study from Access Markets International (AMI) - Partners has found that small businesses in the U.S. spent about $410 million on accounting software solutions over the last 12 months. The study goes on to say that this number is expected to grow to $500 million in 2008. This growth translates to a 6 percent annual increase according to Business Wire.
Community News

It’s Done: RSM McGladrey Completes AMEX Acquisition

The acquisition of American Express Tax and Business Services (TBS) announced on August 1 by parent-company H&R Block, is now complete according to a statement from RSM McGladrey. The acquisition increases RSM McGladrey’s staff by 2,500 and when considered with McGladrey & Pullen LLP, creates the fifth largest accounting firm in the nation with combined revenues of more than $1 billion.
A&A

FASB Launches Investor Task Force (ITF)

The Financial Accounting Standards Board (FASB) last week announced the launch of its Investor Task Force (ITF), an advisory Resource that will provide the Board with sector specific insight and expertise from the professional investment community on relevant accounting issues. The first ITF research session will probably be held this month.The ITF represents the latest in a series of steps designed to enhance participation of investors and other users of financial information in the standard setting process.
A&A

The Six Myths of Outsourcing

While outsourcing is still a relatively young business, its impact on the accounting industry is starting to be understood. While it is still in its infancy stage, firms are starting to think about how outsourcing can be used in their practices to help them accomplish their goals. This article will explore some of the early fears most of us had about outsourcing and how most of those fears have been eliminated.
A&A

Retail Merchants Groups Sue Credit Card Companies

Four merchant associations have filed a class action suit against Visa USA, MasterCard Inc. and major US banks including Bank of America Corp., Citigroup Inc., and JPMorgan Chase & Co., alleging collusion in setting interchange fees, according to a report from Reuters. Merchants pay an interchange fee on every transaction, part of which goes to the merchant’s bank and part to the consumer’s credit card company.
A&A

Canadian CFOs Forecast Fourth Quarter Hiring

Thirteen percent of Chief Financial Officers (CFOs) at Canadian companies expect to add staff during the fourth quarter of 2005 according to the latest Robert Half International Financial Hiring Index. Only 2 percent of those surveyed expect to reduce staffing levels while 82 percent do not expect any change to current staffing levels.“Businesses are adding accounting and finance personnel to support new system upgrades and business expansion,” Jeff Holloway, a vice-president of Robert Half International said in announcing the findings.
A&A

Small Business Owners Can Reduce Health Benefits Costs

Rate increases for employee health insurance, which rose again in 2005 – 9.8 percent as opposed to the whopping 11.2 percent in 2004, present business owners with grim choices, according to the SmartMoney.com. Small businesses considering dropping coverage could lose talented employees, as well as normal access to a pool of potential employees.
A&A

Cost of Hurricane Rita Lower Than Expected but Still in Top Ten

Insurers including Allstate Corp. and St. Paul Travelers Cos. estimate insured storm damage from Hurricane Rita may reach $6 billion, Bloomberg.com reports, less than a third of analysts’ early predictions. Paul Supple of State Farm Insurance said that estimates were lower because Rita’s path took it to the east of the densely populated areas of Galveston and Houston.Robert Hartwig, chief economist with the Insurance Information Institute estimates the cost may be less, $4.5 billion.
Practice

President Bush Signs Flexibility for Displaced Workers Act

On Friday, President Bush expanded disaster relief employment by signing the Flexibility for Displaced Workers Act. Advertisement
A&A

Regulatory Relief Sought For Small Businesses

A report by the Small Business Administration (SBA) Office of Advocacy reveals that the full annual cost of Federal regulations on businesses is $1.1 trillion or 11 percent of additional income. The report, The Impact of Regulatory Cost on Small Firms, finds that the total Federal regulatory cost per employee in firms with 500 or more employees is $5,282 per employee while in firms with less than 20 employees, the cost escalates to $7,647 or 45 percent over larger firms with 500+ employees.
A&A

Telework Seen as Important Perk, Especially for Women

Hurricanes, high gas prices, soaring office rents, stressful commutes. While telecommuting has been growing more popular in recent years, events of the last several weeks may prompt even more companies to jump on board.Technology businesses pioneered flexible work arrangements in the 1990s. Service firms, such as PricewaterhouseCoopers, followed. Now, wide use of mobile phones, broadband and wireless Internet access has made working out of the office even easier, and employees consider it an important benefit.
A&A

Court Extends Autodialer Ban to Text Ads to Cell Phones

An Appeals Court in Arizona on Tuesday upheld a lower court decision extending the federal ban on using autodialers to call cell phones to sending text messages to cell phones.“This ruling is a ‘win’ for consumers,” said Erin McGee, spokesperson for CTIA – the Wireless Association, an international nonprofit membership organization representing all sectors of wireless communications – cellular, personal communication services and enhanced specialized mobile radio.
A&A

Doing Business Away from Home: Expediting Reciprocity

Last week, National Association of State Boards of Accountancy (NASBA) President David Costello and American Institute of Certified Public Accountants (AICPA) President and CEO Barry Melancon, sent a letter to the State Boards of Accountancy requesting assistance in speeding and easing the process by which displaced accounting professionals can begin practicing in other states.Advertisemen

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