Practice news February 2012

Practice Management

AAA Partners with Halogen to Build World-Class Accounting Firms

Halogen Software today announced a partnership with the Association for Accounting Administration (AAA). This partnership provides the association's more than 900 members access to best practice HR resources and special purchase terms for Halogen's award-winning Talent Management Suite for professional services.
Education & Careers

Nine in Ten CFOs Say Work Experience Important for College Grads

College students take note: Prior work experience may be a requisite for getting your foot in the door with employers, a new Accountemps survey suggests. Nine in ten (91 percent) CFOs interviewed said it is important for entry-level accounting and finance professionals to gain practical experience while in college.
Practice Management

Sleep Soundly with Data Security

Can you sleep soundly at night knowing your firm is safe from data security breaches? Security is a vitally important area that often is overlooked or taken for granted by accounting and law firms because it's not looked at as strategic, but rather one of those things that should and must be done "just in case."
A&A

IC Opportunities Event – A Forum for Industry Innovation and Change

Jason Blumer, of Blumer and Associates CPAs, has no problem admitting to the conservative nature of the accounting profession. Its reverence of tradition and legacy, its hierarchical leadership style, and its reliance on "tried-and-true" business practices, are what once made the profession great.
Education & Careers

Seven Tips to Successful Introductions

Many CPAs think that they must market outside of their existing client base. However, within your existing base is usually enough tax, tax planning, and ultimately wealth management candidates, to effectively expand your practice for years.
Practice

KPMG to Offer Tax Offsets to LGBT Employees

KPMG LLP announced it now offers its lesbian, gay, bisexual, and/or transgender (LGBT) partners and employees offsets for the additional federal and state tax costs incurred when they pay for same-sex domestic partner medical benefits. The tax equalization benefits will cover the 2012 tax year.
Practice

Treasury Proposes New Rules for Annuity Options in Retirement Plans

The U.S. Treasury and the IRS have proposed a package of regulations and rulings intended to encourage retirees to invest some proceeds of their retirement accounts in annuities. Retirees have shown no interest in this type of investment because they are reluctant to invest their entire retirement account in an annuity.
Practice

Pippins v. KPMG LLP - What It Could Mean for Your Company

Employers who have faced potential class action wage-and-hour lawsuits know what a headache they can be. Due to a recent case, employers have a lot more to worry about. That case, Pippins v. KPMG LLP, has caused tremendous turmoil and confusion among those who follow employment litigation and electronic discovery.
Practice

CPAs Give Business Advice to Veterans through Partnership with SCORE

CPAs now have an opportunity to volunteer and provide up to five hours of free financial advice to veterans about how to start or grow their business. The program was launched through the AICPA's participation the Veteran Fast Launch Initiative sponsored by the Service Corps of Retired Executives (SCORE).
Technology

Cloud Chiefs Talk Myths, Trends, and the Future for Business IT

In February, Microsoft News Center (MNC) spoke with Kurt DelBene, President of the Microsoft Office Division, and Satya Nadella, President of Microsoft's Server and Tools Business, about what's new and what's unchanged with cloud computing. Here's what they had to say.
Practice Management

Federal Agency Paves Way for Easier Move to the Cloud

The US General Services Administration (GSA) has released long-awaited details on a standardized program that is expected to smooth the way for the federal government's move to the cloud. Security risks are one of the main stumbling blocks for government agencies to make the move to a cloud-based solution.
Practice

Six Things Accountants Often Don't Understand about LinkedIn

You've probably heard about LinkedIn, and perhaps you've already registered your profile. Thousands of accountants register, but many fail to register properly, they complain about it, or they simply say it hasn't generated any business for them.
Practice

New CSC Survey of More Than 3,500 Cloud Computing Users

A survey of IT decision makers found that the shift to cloud computing is driven primarily by a desire to connect employees through a multitude of computing devices. Thirty-three percent cited accessibility to information through multiple devices as their top reason for adopting cloud computing.
Practice

IRS Unveils New Version of Smartphone App

The IRS announced the availability of IRS2Go 2.0, an expanded version of its smartphone application designed to provide taxpayers easier access to practical tools and information. The new app is available on the Apple and Android platforms.
AccountingWEB Life

AICPA Creates Social Networking Site for Aspiring Accountants

The American Institute of Certified Public Accountants (AICPA) has partnered with Telligent to create a social networking site - This Way to CPA - for college students aspiring to become accountants. This Way to CPA is designed to increase awareness of AICPA and to drive its recruitment efforts.
Community News

AccountingWEB Readers Find Time Management a Challenge

Few readers think time management is their strong suit, with the vast majority of respondents to a recent survey – 87.3 percent – saying they're either "OK, not great" at it or "could use some improvement." It's no wonder. During tax season, most accountants feel the tensions of too much work and too little time.
Practice

Intuit Small Business Employment Index Results

Small businesses created 50,000 new jobs in January but paid employees less and gave them fewer hours. The East Coast, especially New York, showed more weakness in employment than in other parts of the country. These are some of the results of Intuit's latest Small Business Employment Index.
Practice

Parking and Mass Transit Employee Benefits: NTEU's Kelley Wants Parity

On January 31, 2012, the leader of the National Treasury Employees Union (NTEU) called on Congress to approve the S. 1034 – Commuter Benefits Equity Act of 2011, which would permanently establish parity between the parking and mass transit portions of the employee transportation benefit.
Practice

How to Ask for a Raise

One of the most challenging areas of work life that most professionals face is asking for a raise. It just feels uncomfortable to most people on so many different levels. They are concerned that bringing up the topic puts a target on their back, and the whole conversation might lead to a dismissal.