Practice news April 2007

Practice

Top 5 Productivity Killers

As Vice President of Strategic Business Development at FileVision, Laurie Shufeldt sees her share of customers in need of improved productivity. Shufeldt helps SMB customers, especially those in the healthcare, financial services and government industries, bridge the gap between digital content and paper documents. Based on her experiences, here are the top five productivity killers capable of slowing down any firm or practice.Productivity Killer No.
Practice Management

5 Ways to Get More Mileage from Your General Ledger

We don’t have to tell you how cut-throat your business world can be. Clients always feel the need for speed and if your practice can’t keep up, they will take their accounts across the street to your competitors.To compete, practices cannot afford to run a lengthy, convoluted budgeting process. Across-the-board budget data from departments, databases, and reporting tools must be immediately accessible and revisable.
Practice Management

A Conversation With David Maister: What’s Our Deal?

At a recent conference, I heard a number of successful firm leaders describe how their firms had achieved significant growth and profitability. A common phrase used by each and every one of these firm leaders was “making sure that all the key people were ‘on the same page.’”Clearly, it was important that something was agreed to and shared among the members of these firms. But what? What does “being on the same page” really mean?
Practice Management

State of the Paperless CPA Firm

“Paperless” has been the term used by many practitioners to describe the transition of today’s CPA firms to more streamlined electronic work-flows that automate processes by eliminating the manual handling of physical documents. To better understand and evaluate the status of this paperless environment in 2007, the Association for Accounting Administration
Practice

Eisner Names Nachmias Audit Partner

Eisner LLP, a middle-market accounting and business advisory services firm, announced that Richard S. Nachmias has joined the firm as an audit partner in the sports, media and entertainment practice group.Nachmias offers more than 22 years of experience providing services to clients and companies in the media and technology industries. He formerly served as North American CFO of a global provider of advertising and marketing research and as CFO of an international advertising representation agency.
Practice Management

Workman to Lead BKD Firmwide Tax Services

William E. Fingland Jr., managing partner of BKD, LLP, announced Joplin Partner Lisa G. Workman has been appointed as firmwide director of tax services. Only the third person in BKD history to hold this post, she succeeds S. Richard Royster who retired in May 2006.Workman will target her leadership skills on developing opportunities to increase the depth and breadth of services.
Practice

5 Start-Up Mistakes Entrepreneurs Should Avoid

According to the Small Business Administration, one-third of small businesses fail in the first two years and one-half fail within the first five years, statistics that might discourage even the most determined potential entrepreneurs from trying to realize their business dreams. But avoiding the five most serious mistakes entrepreneurs can make in the startup phase can go a long way towards helping them achieve success, CNNMoney reports.The most deadly errors small business owners make in their first year are:1.
Practice Management

Outside Controllers Rarely Promoted to CFO

New research reveals that less than 5 percent of chief financial officers hired from outside their company were controllers.The survey by executive search firm Korn Ferry International shows that the number of Fortune 500 CFOs hired from outside of their new companies totals 190.
Practice Management

Crowe Chizek Named Best Place to Work in 5 States

Crowe Chizek and Company LLC, one of the nation’s largest public accounting and consulting firms, has been named one of the Best Places to Work in Indiana, Kentucky, New Jersey, South Florida and Tennessee. The work/life programs Crowe provides its 2,400 personnel include an overnight travel rewards program, a Women Into Leadership program and the CareerLink career development and performance management program. In addition, Crowe provides flexible work arrangements, wellness programs and personnel assistance programs.“This is a wonderful honor,” says Crowe CEO Charles Allen.
Technology

More Companies Squeezing Employee Internet Use

Businesses are becoming more and more strict when managing employee Internet use at work, a new survey shows. A national poll from Robert Half Technology revealed more than three-quarters (78 percent) of chief information officers (CIOs) polled recently said their company has either installed content-filtering or blocking software, instituted policies that detail acceptable Web browsing, or done a combination of both. The poll includes responses from more than 1,400 CIOs from a stratified random sample of U.S. companies with 100 or more employees.
Practice Management

Will Lower Salaries Send Execs Scurrying?

Can companies keep good executives without succumbing to the pressure of escalating pay packages? Yes, the Associated Press reports, but it's not easy.Take the example of Whole Foods Market Inc. The natural-foods grocer limits compensation for top executives to a multiple of the average Whole Foods worker's pay. The cap, which covers salaries and bonuses but not stock options, started at eight times average pay in the 1980s, and was raised to 14 times in the early 1990s as the company grew and went public.
Practice Management

Open season on interns

The Internship Institute, the non-profit affiliate of Z University.org, declares that this time of the year is "open season" for businesses and non-profit organizations to recruit interns and plan ahead to make summer programs successful. Z University.org is a workforce readiness company dedicated to improve the quality of internship programs."What too few employers and organizations realize is that internships represent a tremendous untapped opportunity to create a strategic business advantage," explains Matthew Zinman, executive director and founder of The Internship Institute.
Community News

True Partners Consulting Appoints New Partners

True Partners Consulting LLC today announced that it has promoted four of its senior managers to managing directors: Lawrence P. Salus, Jr. and John P. Bennecke, in its Chicago headquarters, Tracey G. Sellers, in its Tampa, Fla. office, and Gregg P. Dluginsky, in its New York office.“We’re delighted to be promoting these four people who exemplify the best of True Partners, and all of whom have made significant contributions to the firm’s early success,” said Cary McMillan, chief executive officer of True Partners.
Practice Management

Understanding How to Attract, Retain & Motivate Young CPAs

In the past five years, the accounting profession has overcome the challenges of the Enron crisis, restoring the reputation and integrity of the profession. In the wake of that crisis, and new requirements created by Sarbanes-Oxley, profession has readily stepped up to the increased emphasis on ethics and importance of financial data integrity. Today, the profession is better positioned for growth than at any time inrecent history.In fact, growth is now apparent, with firms restoring revenue growth rates to pre-Enron levels.
Practice Management

Improved Soft Skills Help Accountants Advance

Accounting and finance professionals looking to advance their careers will need to improve their soft skills, according to Accounting Management Solutions, inc. (AMS), a New England provider of outsourced accounting, financial management, and recruiting services. "Technical and technological skills are essential, but they're not enough. Soft skills -- including the ability to write and present persuasively -- are what enables leaders to educate and lead," said AMS Director of Recruiting Services Jim Cote.
Practice

Accountants' Hourly Rates Increase

Hourly rates charged by accountants overall are on the rise, according to Intuit’s 2007 ProConnection® rates survey, which polled more than 1,100 professional accountants. Average rate increases ranged from $1 to $10 per hour. Non-software business consulting and software installation services garnered the highest average hourly rates of $95 and $86 respectively, showing increases of 12 percent and 7 percent. For the first time ever, the survey showed how Certified QuickBooks ProAdvisors' rates compare to those of their peers.
Practice

Grant Thornton LLP Names Central Region Leadership

Grant Thornton LLP announces the promotion of Lou Grabowsky to Central Region Managing Partner and Randy Robason as Managing Partner of the firm’s Dallas office. Robason will transition from the firm’s Charlotte office where he was the Southeast Region Tax Practice Leader.As the Central Region Managing Partner, Grabowsky is responsible for all operations within the region including client service and professional matters.
Technology

Better Job Cost Tracking with Sage MAS 90 ERP

Automotive Investment Group, an internal advertising group supporting more than 20 automotive dealerships in Arizona, Texas, Georgia. and California often found itself stuck in “Park” when it came to billing at least 1,000 different jobs every month – until the launch of a new accounting software package got the company back in the fast lane.Automotive Investment Group, or AIG, seeks optimum pricing discounts when purchasing newspaper, television, radio and special promotional ads in volume, before allocating costs to individual dealerships.

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