Practice news

Practice

Succession Planning: Cover These Four Bases for Every Retiring Partner

Every firm is working through the succession maze and dealing with the exit of key partners in the firm. It's the Baby Boomer bubble up close and personal, which I have written about and which every firm that I work with is dealing with.
Community News

Company Announcements: Week of October 21, 2013

Following is the latest roundup of community news for the week of October 21, 2013.
Practice

Ten Ways to Boost Your Referrals

What's your most powerful new business tool? For almost every accountant I talk to, it's word of mouth. But when I ask them what they're doing to grow their referrals, I'm often met with an uncomfortable silence.
Practice

How an Accounting Firm Can Create an Industry Niche

Michael Bohinc, CPA, is a baseball nut, the son of a plumber, and the owner of Keeping Score, Inc., an accounting, tax, and business management advisory services firm. So he combined his background as he developed an industry niche focused on plumbing and HVAC contractors.
Community News

Company Announcements: Week of October 14, 2013

Following is the latest roundup of community news for the week of October 14, 2013.
Practice

CPAs, Don't Be 'Just the Tax Guy/Gal'

Most top US accounting firms report that common sources of firm revenue growth include niche services, such as business valuations, litigation support, strategic planning, and business advisory services.
Community News

Company Announcements: Week of October 7, 2013

Following is the latest roundup of community news for the week of October 7, 2013.
Practice

Mandating Flu Vaccines: What Employers Should Know

Seasonal flu is not only unpleasant, it's expensive. Each flu season, nearly 111 million workdays are lost because of the flu, which represents approximately $7 billion per year in sick days and lost productivity.
Practice

Effectively Communicating with Clients

Of all the elements a CPA or financial advisor needs to consider in order to operate a successful wealth management practice, an effective client communication strategy ranks at the top of the list. Regular communication is critical to the long-term success of your firm, but it has to be done right.
Practice

Know Before You Roll - Options for an Old 401(k)

According to an investigation by the U.S. Government Accountability Office (GAO), “Retirement plan providers are offering misleading or even false information about 401(k) rollovers that can cost participants thousands of dollars in additional fees.”
Practice

Beware of the Drama Triangle in Client Relationships

It's possible that at the times we find ourselves operating at our best, we are not actually helping clients solve problems, but instead helping them achieve their ideal outcomes. The best relationships we have with clients are characterized not by transactional problem-solving relationships, but rather by holistic relationship where we know what really matters to the client in business and in life.
Practice

CPAs Join Together, Give Back During Day of Service

This September, thousands of accountants from state CPA societies across the country tossed their spreadsheets aside to paint dorms at local women's shelters, tutor kids at the Boys and Girls Club, and serve countless meals to the hungry and homeless during the annual CPA Day of Service.
Practice

Three Tips for Better Meetings with Your Accounting Firm's Clients

The most important client meeting is when you’re tasked with presenting the client your financial analysis. Making the most of this meeting can do wonders for establishing client trust and retention.
Practice

Learning Beyond Technical Training

Most accountants possess a similar level of technical training as their peers, but the most successful firms are those creating a true learning culture in which business processes, soft skills, and the art of running a company are all taught and viewed as crucially important.
Community News

Company Announcements: Week of September 30, 2013

Following is the latest roundup of community news for the week of September 30, 2013.
Practice

Advantages of Adding Niche Services to Your Accounting Practice

Regardless of the industry, all businesses have a need for an accounting firm. For Tom Palm, identifying the industry his firm wanted to work with was a strategic decision that helped him grow his business. Read why the niche approach works.
Practice

Rosenberg MAP Survey: Firms Saw Spikes in Revenues and Turnover in 2012

CPA firms in 2012 posted their first respectable increases in revenues since before the start of the recession; however, professional staff turnover last year rose approximately 50 percent across the board compared to 2011.
Practice

Idaho CPAs Host Inaugural Day of Service

The staff at Jordan & Company, Chartered in Pocatello, Idaho, could have taken a few days after the September 16 tax extension filing to tidy up the typical post-deadline clutter at the office. But instead, employees spent their "downtime" sprucing up an entirely different type of habitat.
Practice

WTP Advisors Merges with Boucher Stickley Group LLC

Forensic accounting and litigation support firm Boucher Stickley Group LLC (BSG), based in New York City, has merged with White Plains, New York-based WTP Advisors, a global tax and business advisory firm.
Practice

Sax Macy Fromm and Bollam, Sheedy, Torani to Merge

Accounting and business consulting firms Sax Macy Fromm & Co. PC (SMF), based in Clifton, New Jersey, and Bollam, Sheedy, Torani, & Co. LLP (BST), headquartered in Albany, New York, will merge, effective January 1, 2014.

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