Practice news

Practice Management

Clients Seek 2007's 'Dirty Dozen' Scams

The Internal Revenue Service’s release of its "Dirty Dozen", 12 of the most common – and blatant – tax scams offers tax preparers a most wanted list of don’ts and an opportunity to prepare themselves for customers seeking illegal means for lowering their tax liability.Firm owner Kent West, CPA/PFS, from Mooreland, Okla.
Practice Management

Accounting for Employee Health

When Canadian employees at PricewaterhouseCoopers get sick, they can call up a new internal website that offers help and an unusual personal invitation -- to walk into the CEO's office and talk confidentially about their health challenges, reports The Globe and Mail.PwC is not alone in its desire to be recognized as a leader in building a wellness into its culture. Conference Board of Canada surveys reveal that health information and promotion programs are quickly becoming important components of human resource strategies.
A&A

A Conversation With David Maister: The Preconditions For Strategy

Managers build their plans and strategies on the assumption that people in their firm are ready and willing to be team players, acting collectively to create or achieve something in the future.The truth, however, is that these attitudes cannot be assumed to exist. In fact, they may even be relatively scarce. In many firms - perhaps even most - these preconditions for strategy may not exist.It is hard to identify and create buy-in for what the firm should do if there is no strong sense of a mutual commitment and sense of group loyalty and cohesiveness.
A&A

6 Keys To Growing Your Company The Old-Fashioned Way

When the average joe thinks "big corporation," the images that spring to mind are primarily negative: backdating of stock options. . .fat cat CEOs who jet around in luxury while workers barely scrape by. . .huge mergers that spawn both big bonuses (for executives) and layoffs (for lower-level peons). . .companies reporting record profits while cutting employee health benefits. Watch the evening news and you'll see why so many people take such a grim view of the corporate world.
Practice Management

KPMG Tax Shelter Woes Continue

Big Four firm KPMG has received more setbacks in the firm's quest to clear its name of wrongdoing in the much-publicized tax shelter fraud scandal. Judge T. John Ward of the Federal District Court for the Eastern District of Texas ruled recently that Blips, the name of one of the tax shelters created, marketed, and sold by KPMG and the subject of ongoing legislation against 16 former KPMG employees, is not a legitimate tax shelter.Blips stands for Bond-Linked Issue Premium Structure.
Practice Management

J.H. Cohn Elects Four To Leadership Positions

J.H. Cohn LLP, the largest independent accounting and consulting firm in the Northeast, has announced the election of three partners and one principal to its senior leadership team. The Firm named Kimberly Brandley, CPA, Kelly O’Callaghan, CPA, and William D. Pidgeon, CPA, as partners, and Kelly Frank as a principal at the Firm.
A&A

CEOS Make ‘Strong Execution’ High Priority In 2007

As CEOs develop their growth strategies for 2007, a top priority focuses on the strong execution of all major business processes, according to the Grant Thornton LLP Survey of U.S. Business Leaders, 14th Edition. Almost two-thirds of respondents (63 percent) say they are putting more emphasis on strong execution today than a year ago. More than eight out of 10 (83 percent) survey respondents place the quality of execution throughout the organization among their top three priorities.
Practice

Study: Male Accountants Threatened By Women

Nine out of 10 male accountants believe they have been adversely affected by attempts to create a more favorable working environment for women in Europe, new research reveals. Recruitment specialists Careers in Audit found that many men working in the profession claimed that women were being promoted even if they do not deserve it. The resentment ran high despite 76 percent of male accountants backing the view that a "glass ceiling" still exists which prevents women from progressing.
Education & Careers

Most Workers Unhappy In Jobs

More than four out of five U.S.
Practice Management

Five Easy Tips to Bolster Your Happiness Quotient at Work

Is everybody happy? Are employees enthusiastic, with high productivity and performance or are they costing the business money in turnover or health care costs? Are customers satisfied with the service and showing their appreciation with referrals? Most businesses are ignoring the real impact of happiness in business, despite mounting evidence that proves its importance at work. "Stories on the relationship between workplace happiness and employee productivity have made the cover of The Economist and have been featured in The New York Times Magazine and The Wall Street Journal.
Education & Careers

What Ails Corporate America?

For millions of workers who are no longer satisfied with their current jobs and are looking for new positions, the 2007 employment market will be full of opportunities.
A&A

Survey: High Energy Costs Impact Margins

Managers at production and manufacturing companies responded on the impact of high, volatile energy costs in Industry Direction's second annual study, The Energy Cost Factor: Transforming the Supply Chain to Offset Margin Squeeze. Responses from 139 respondents from a wide range of industrial companies were recorded."This year's findings are significant because they demonstrate that companies are not simply bearing the brunt of high energy costs in the most obvious areas of the supply chain,'" said William Brandel, Principal at Industry Directions.
Practice Management

Job Prospects Lucrative for 2007 Accounting Grads

College seniors can look forward to the best job market in years, with employers planning to hire 17-percent more graduates from the class of 2007 than they did from last year's class.The National Association of Colleges and Employers said in its Job Outlook 2007 survey that more than half the employers surveyed said they planned to increase hiring, with only five-percent planning a decrease, the Wall Street Journal reported. The association predicted this year would be the best job market since 2000-2001.Deloitte & Touche is contributing to the recruiting push in a big way.
Community News

A Conversation With Allan Boress: Impact Your Revenues Right Now

Here’s an idea that has generated increases of 12 percent to 23 percent in revenues for over 50 client firms that have employed it: “It’s payback time.”Advertisement
Practice Management

A Conversation With Barry Goldwater: Growing Your Practice

To define wealth management, one has to look as far as his or her financial discipline. To an investment advisor, it may mean growing assets. To an insurance advisor, it may mean tax-efficient estate preservation and to an accountant, it may mean the best way to sell a business to minimize taxes. One definition that I personally like is taken from the book “Accountants as Wealth Managers.” The authors define wealth management as the blending of core accounting services, plus investment management, plus advanced planning insurance solutions.
Practice Management

Customer Service Tops 2007 Priority List

Anyone who has ever held the phone and listened to a recorded message, over and over -- "Your call is important to us, but all our operators are busy helping other customers," -- understands that customers want service and it tops the confidence and loyalty polls as Web 2.0 consumers force businesses to focus their attention on improvement in 2007. "Consumer polls in 2006 pointed to customer service as a critical reason for selecting one business over another business," said Ian Skawinski of White Hat Marketing.
Practice Management

Are You a Great Leader?

The business community is awash in books, manuals and courses on what it takes to be a great leader. So why do you need another one? Consider the source: Ram Charan, coauthor of Execution: The Discipline of Getting Things Done and author of What the CEO Wants You to Know. One of the world's most influential business advisors, Charan has lent his expertise to such corporations as Verizon, General Electric, DuPont and KLM.
Practice Management

It's Not How Good You Are, It's How Much You Want It

To start the New Year off on the right foot, take a look at what David Maister wrote about careers, firms and "wanting it." Advertisement
Practice Management

Improving December Cash Flow

Business owners face added stress in December when cash collections from receivables are typically lowest, but there are reasons that they decrease in December and also measures that can be taken to improve the problem. Jerry L.
A&A

Few Firms Have a Regulatory Response Team Despite Anti-fraud Programs

In the heightened regulatory environment of the post-Enron business world, a majority of companies have instituted formal anti-fraud programs and controls, according to an online poll released earlier this month by Deloitte Financial Advisory Services LLP (Deloitte FAS).

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