Practice news

Practice Management

Managing Financial Turnarounds

A new study from the Financial Executives International (FEI) Research Foundation provides case studies and insights into how to guide a company through a financial turnaround.Advice offered in the study includes:Eliminate emotional ties to previous policies.Make cash flow allocation your first concern.Identify and monitor internal key performance indicators daily.Look for problem
Practice Management

PWC CEO Unexpectedly Announces Plans To Step Down

James Schiro, 55, CEO of PricewaterhouseCoopers, has unexpectedly announced his plan to step down as soon as a successor can be found. During his tenure as CEO, Mr. Schiro oversaw the 1998 merger of Price Waterhouse and Coopers Lybrand, as well as the 2000 failed attempt to sell the firm's consultancy practice to Hewlett-Packard.
Practice Management

Cokie Roberts to Keynote at IMA Conference in June

The Institute of Management Accountants (IMA), one of the world’s largest associations for financial professionals in the corporate workplace, will converge in New Orleans from June 17-20 for its 82nd Annual Conference and Exposition. “Native” daughter, Cokie Roberts, is scheduled as a keynote speaker to provide an insider’s look at the national political scene.
Practice Management

PwC Launches New Insurance Digest

PricewaterhouseCoopers has announced the launch of Americas Insurance Digest, a new publication in which PwC partners discuss key issues in the insurance industry.The first issue includes the following topics:Closing the Information Gap - current trends in business reporting beyond the traditional accounting framework.Tomorrow's Leading Non-Life Insurer - optimal business models for survival and success in the 21st century.A Matter of Privacy - key issues that senior executives should consider in developing a privacy program that will meet legislative requirements
Practice Management

Enterprise Risk Management - Keys to Success

Your firm may be covered in the event of theft, fire or flood, but that is not enough in the business world today.
Practice Management

Strategic Vision - All Firms Need It

This article provided by Gary Boomer, CPA, of Boomer Consulting. Vision is important if your firm plans to grow and prosper. The large firms spend considerable resources on visioning and strategic planning. Building consensus and gaining input from staff, managers, and owners is important. Perhaps your firm is smaller and doesn’t feel it can spend the resources on strategic planning. Based upon what the well-managed firms do, at a minimum, your firm should have a one-page strategic plan with measurable goals.
Practice

CFOs: Golf Is Good For Your Career

Golf isn't just a sport, it's a good career building activity, according to a recent survey of CFOs conducted by Robert Half International Management Resources.Survey responses came from 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees.
Practice Management

The Most Important Aspect of Business - Getting Paid

Compliments of Robert Goldhaber, Esq. -Member of the National Network of Accountants’ Preferred Provider NetworkThe key to staying in business is receiving payment for the services you provide, and receiving that payment in a timely manner. In most instances, getting paid for services performed, or for goods sold, is not a problem. But what do you do when payments are not forthcoming? Do You Want to Do Business with this Customer?In reality, every businessperson should start thinking about being paid prior to performing any work or selling any goods.
Practice Management

Developing and Running Industry or Client Task Forces, with Phyllis Weiss Haserot

FOCUSED MARKETING: Developing and Running Industry or Client Task ForcesPresented by Phyllis Weiss HaserotPractice Development CounselContact pwhaserot@pdcounsel.comThursday, February 22, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryMs. Haserot's session included information on the following topics: 
Practice Management

When Accounting Firms Enter the World of Group Insurance, with Herbert Lichtman

When Accounting Firms Enter the World of Group InsurancePresented by Herbert LichtmanPresident and CEO, GroupWorksTuesday, February 13, 2001 4:00-5:00 p.m. ESTVisit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryGroup insurance presents both great opportunities and great challenges for accounting firms.
Practice Management

Plant Seeds in Tax Season For a Bountiful Summer Harvest, with Dave Cottle

Plant Seeds in Tax Season For a Bountiful Harvest in the SummerPresented by Dave CottleDavid Cottle ConsultingContact dave@cottleconsultingTuesday, January 30, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryDave's session included ideas on what you can do during tax season - when you have the attention of your clients - to ensure a continu
Community News

Developing a Business Plan for Success

If you're a self-employed accountant, you're doing your business a disservice if you haven't prepared a carefully thought-out and written business plan.Ugh, you're thinking. That's a lot of hard work, and I don't even know how to get started. Besides, my business has been rolling along fine without a hard-and-fast plan. The world's changing too fast anyway, right?
Practice Management

Outsourcing Your Payroll Systems, with Rob Basso

Outsourcing Your Payroll SystemsPresented by Rob Basso, President of Advantage Payroll ServicesContact Rob at Rob_basso@advantagepayroll.comJanuary 25, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryThursday's workshop session was filled with useful information and answers to questions about outsourcing pay
Practice Management

FASB Reconfirms Position: No More Pooling Allowed

In continuing its redeliberations of the September 1999 proposed Statement, Business Combinations and Intangible Assets, the Financial Accounting Standards Board (FASB) tentatively decided at today’s public meeting to eliminate the pooling-of-interests (pooling) method of accounting for business combinations. All business combinations would be accounted for under a single method - the purchase method. The pooling method would be eliminated following issuance of a final Statement.
Community News

Accounting Issues in Government Contracting, with Ron Crowe

Accounting Issues in Government ContractingPresented by Ron Crowe of DeltekJanuary 18, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.Summary"Accounting Issues in Government Contracting" addressed these points and more: Tracking of costs according to federal government requirements Differences from standard cost accounting Contractor accou
Practice Management

Using Industry Profiles to Improve Your Business, with Wil Brawley and Michelle Golden

Using Industry Profiles for Sales Call Preparation, Business Valuations, Audits and More!Presented by Wil BrawleyVice President of Marketing for First Research and Michelle Golden, President of Golden Marketing Resources
Practice Management

EY Offers FAS 133 Simplification Solution

Are you familiar with FAS 133?
Practice Management

Illinois Business Owners Favor CPA/Lawyer Partnerships

Based on a new survey conducted by the Illinois CPA Society, 75 percent of more than 2,000 business executives have no objection to CPAs and lawyers working together as partners.Moreover, 85 percent said that they would not sever their relationship with a CPA who partnered with someone they did not know.
Practice

Reasons why Clients Leave Financial Advisors

A third of the nation's financial advisors claim it's harder to keep clients than it was five years ago. On top of that, 75 percent of these advisors say those with less than $100,000 to invest are the most difficult ones to retain.If you're a CPA and/or financial advisor, you may be experiencing much of this in today's marketplace. Why do customers leave?It all boils down to opinions from others. Clients have high expectations, and are greatly influenced by what they hear, rather than by experience. Expectations, too, have become less realistic.
Practice

Top Reporting Challenges Facing Public Companies

NEWS RELEASE: Financial Executives International (FEI), a professional association of 15,000 CFOs, controllers and treasurers, has identified the ten most critical financial reporting challenges facing public companies for the year 2001:Audit Committee Governance -- Fulfill new "independence," financial "expert" and financial "literacy" requirements for audit committees.

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