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Achieving Your Goals Takes More Than Good Intentions

By, Keith RosenThroughout my career as a business owner, a sales trainer and a business coach, I've noticed a consistent theme in relation to achieving greater levels of success. That is, the professionals who are extremely productive have taken the time to define their goals and a roadmap to attain what they want most. While some enjoy the excitement of strategizing for the New Year, others find themselves intimidated by the goal setting process.
Practice Management

IRS Provides Inventory Valuation Method For Auto Remanufacturing

The Internal Revenue Service today issued guidance that provides an inventory valuation method for rebuildable motor vehicle cores. In the remanufacturing industry, worn or used parts (cores) are rebuilt when received from customers and other sources.The guidance was released as part of the Industry Issue Resolution (IIR) program. The IIR program, launched by the IRS in 2001, tackles issues submitted by taxpayers, associations and other groups representing businesses.
Practice Management

Practice Idea: Semi-Annual Client Check Ups

Guest Author: Michael Platt, AccountingWEB, Inc. Every six months you go to your dentist for a check up, and probably have done so for years. You do this because your dental professional encourages it, and because you know it's the right thing to do.
Practice Management

NY Times Discloses Private Financial Details of E&Y

CPA firm financial information is one of the most guarded pieces of information about the profession. Most firms do not disclose profits, capital structure or earnings per partner for fear of being placed at a competitive disadvantage and arising the ire of clients who don't know what a CPA earns.But a divorce proceeding in Indiana involving Ernst & Young Global Chief Executive Richard S. Bobrow has forced the unveiling of part of the hidden world of Big Four finances.
Practice Management

Communicating Pay Changes: Suggestions For 2003

By, Pat Zingheim and Jay Schuster http://www.paypeopleright.comWhen you think of it, your organization’s pay program is really a powerful communicator of values and directions to your employees. How many times have you heard people say, "You get what you pay for"?
Practice Management

SEC Expands Definition of 'Financial Expert'

Accountants and retired audit partners looking for seats on boards of directors may be disappointed to hear the Securities and Exchange Commission has expanded its proposed definition of "financial expert." This definition has proven to be one the most controversial aspects of the Sarbanes-Oxley Act.Under the Sarbanes-Oxley Act, companies are required to disclose whether or not they have a "financial expert" on the audit committee of their board of directors.
Practice Management

Preventing Your Firm's 'Enron' - Part 4 of 4

by Gary Zeune, CPAContinued from Preventing Your Firm's 'Enron' - Part 3
Practice

Preventing Your Firm's 'Enron' - Part 3 of 4

by Gary Zeune, CPAContinued from Preventing Your Firm's 'Enron' - Part 26. Trust: Do you trust the client because they pay your bills? Big mistake. Of course the client is going to pay your bill if it needs your opinion to consummate a significant pending transaction like a bank loan renewal or other financing or acquisition.
Practice Management

Preventing Your Firm's 'Enron' - Part 2 of 4

by Gary Zeune, CPAContinued from Preventing Your Firm's 'Enron' - Part 1Avoid Procedures That Can Lead to Your ‘Enron’Now let’s explore some of the things that can lead to your "Enron":
Practice Management

Preventing Your Firm's 'Enron' - Part 1of 4

By Gary D. Zeune, CPA
Education & Careers

CFO Magazine: 10 Reasons NOT to Accept That Job

Rising unemployment, eager job candidates, and not-always-above-board business practices sometimes conflict with each other causing confusion and hesitation on the part of job-seekers looking to accept new job positions.
Practice Management

Special Enron Christmas Carol Collection

Just in time for the holidays, the Financial Times has published a collection of Enron Christmas Carols compiled by Stella Fearnley of the Institute of Chartered Accountants to satirize this year's corporate accounting scandals.Here are a few of the carols:Enron Investors and employees (tutti busti) - O, come all ye faithfulO come, bent directors,Profit from your dealings.O come ye, O come ye to Washington.Make big donationsTo the politicians.The SEC won't get you,The SEC won't get you,The SEC won't get you,Until we're all bust!Arth
Practice

Time Names Whistle-Blowers as Persons of The Year

Time Magazine named three women whistle-blowers as its "Persons of the Year." The winners include Enron's Sherron Watkins and WorldCom's Cynthia Cooper, both of whom uncovered massive accounting fraud at their companies.Ms.
Practice Management

Ideas to Improve The Quality of Your Firm

By Nancy BlodgettHere are some helpful ways to improve the quality of your firm. Adjust Your Attitude Be open to new ideas! Make time for quality improvement. Don’t manage by fear. Help people feel secure in their jobs.Don’t let the statement: "we’ve always done it this way," keep the firm from trying new approaches to problem-solving. Change the "Us vs. Them" culture of management and staff by adopting quality principles and methods.
Practice Management

Compensation 2003 – Making it Work For Your Firm!

By Sandra WileyWhen you looked at the title to this article, did you cringe and say to yourself – “I don’t want to think about compensation again!” I can’t blame you; it is a very daunting subject when you are talking about partner and staff compensation. The subject becomes even more challenging as you look forward into 2003 and the economist are all saying that the economy will most likely be moving sideways well into next year. We have to look at compensation strategies that make sense to our firm and continue to motivate staff at the same time.
Practice

Three Ways to Boost Morale Despite Low Pay Raises

A survey by Deloitte and Touche shows pay increases are expected to average 3.5% at large companies in 2003, the third straight year of modest pay increases. Some companies are also eliminating bonuses or paying employees less than half the bonuses they received in better times. The survey shows the trend toward lower pay increases is contributing to low employee morale and undermining the loyalty of many companies' most valuable employees.
Practice

Improving The Workplace - People Problems Perplex Supervisors

By, Bruce L. Katcher, Ph.D.THE PROBLEMResearch shows that supervisors do a much better job of handling job-related problems than they do handling people-related problems. One of two employees believes that their immediate supervisor does a poor job of solving problems such as motivational, emotional, and personal issues.Here are some reasons why: 
Practice Management

States Want Tax-Dodging Companies Ousted From S&P 500

A coalition of state officials demanded that Standard & Poor's remove ten companies from the S&P 500 because all ten have moved their legal addresses to locations considered offshore tax havens.
Practice Management

CMA Designation Celebrates 30th Anniversary

The Institute for Management Accountants is celebrating a milestone of sorts this month - the thirtieth anniversary of the first testing to award the Certified Management Accountant (CMA) designation.It was December, 1972. President Nixon had just won a landslide victory over George McGovern. The Apollo space program was coming to an end. The Watergate scandal was just a few months old.
Practice

Tax Season Opportunities For Improving Efficiency

By, Tom DavisAs another tax season approaches, CPA firms should spend some time reviewing their current processes for preparing tax returns. Tax preparation is one of the success stories for CPA firm technology implementation. There is no question that returns are prepared faster today than they were two decades ago. However, for most firms there is still some substantial opportunities for improving the tax preparation process. Standardize Review - If there is an area of the tax preparation process that has lagged behind other areas, it is the review of the return.

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