Practice news

Practice Management

The real value of CPAs: guiding clients to business success

How many CPAs only have contact with their corporate clients at tax time? If you’re guilty as charged, you’re undoubtedly doing a disservice to your clients and leaving money on the table, too. Business owners want their CPAs to help them better manage their finances and the impact of their finances on their personal lives, not just fill their compliance needs. These expectations require CPAs to become more involved, partner with their business clients and truly evolve as trusted advisors.
Practice Management

J.H. Cohn Appoints CIO

J.H. Cohn LLP has appointed Robert Grosberg to the position of chief information officer. As CIO of J.H. Cohn, Robert leads the Firm’s efforts to implement business solutions through reliable and efficient technology. “Robert’s appointment solidifies our commitment to leveraging technology to the fullest so we can best serve our clients, and build upon our solid technology infrastructure to support our professionals and staff,” said Kenneth J. Kanter, partner and chair of J.H. Cohn’s Technology and Operations Steering Committee.
Practice Management

Who Are Your Best Clients? And What Do You Do Once You Know?

By Michelle Golden
Practice Management

Straight Advice for Female Leaders

Presidential hopeful Senator Hillary Clinton’s election campaign is in full swing and there are myriad issues to tackle. Perhaps first and foremost is the fact that Sen. Clinton is a woman. While political correctness often dictates the honesty level in many discussions, the reality is many voters are grappling with how they feel about women in power. Even in the corporate world, female leaders face unique challenges that their male counterparts do not. To demonstrate their strength, many women try to overcompensate and rule with an iron fist, which doesn’t do much for building teamwork.
Practice Management

Retaining the Start-up Spirit

Despite being almost 20 years old, Cobra Beer still very much retains an entrepreneurial attitude in the United Kingdom. Dynshaw Italia, for instance, is not only the firm's finance director but also heads up its HR and IT departments.
Practice Management

Abalos & Associates Add Partner

Sandy Abalos, managing partner of Abalos & Associates, PLLC, a full service CPA firm specializing in small and mid-size businesses, has announced that Cheryl Folkerth has been named a partner in the firm, joining Abalos and Barry Friefield.In this position, Folkerth will manage major client engagements as well as develop the firm’s knowledge management system and its conversion to a near paperless office, which will enable staff to work remotely from locations outside of the main office.Her core expertise includes tax planning and preparation, directing financial statement preparation,
Practice Management

Managing Partners & Core Values

“Now the hardness of this world slowly grinds your dreams awayMakin’ a fool’s joke out of the promises we makeAnd what once seemed black and white turns to so many shades of grayWe lose ourselves in work to do - work to do and bills to pay”“Blood Brothers”—Bruce SpringsteenNet income per partner. Workload Compression. Standards Overload. Recruiting. Billable hours. Mergers. Technology. Succession planning. Leadership training. Client retention.
Practice Management

Inexpensive, But Effective Fraud Prevention

Small practices and businesses are more vulnerable to fraud and have more to lose than their corporate cousins, but a few inexpensive changes can do much to prevent workplace fraud.Advertisement
Practice

How to Make Collections & Cash Flow More Timely

Outstanding invoices are the scourge of every small business owner, and are even more troubling for accountants who are always pressing their clients to monitor their receivables. Many firm owners don’t want to spend their time and energy on phone calls and e-mails to customers about payment, but some steps can be taken before an invoice is overdue that can lead to effective collections. Accounting software products such as Intuit's Quickbooks Billing Solutions offer efficient and effective invoicing tools.
Practice

Top 5 Productivity Killers

As Vice President of Strategic Business Development at FileVision, Laurie Shufeldt sees her share of customers in need of improved productivity. Shufeldt helps SMB customers, especially those in the healthcare, financial services and government industries, bridge the gap between digital content and paper documents. Based on her experiences, here are the top five productivity killers capable of slowing down any firm or practice.Productivity Killer No.
Practice Management

5 Ways to Get More Mileage from Your General Ledger

We don’t have to tell you how cut-throat your business world can be. Clients always feel the need for speed and if your practice can’t keep up, they will take their accounts across the street to your competitors.To compete, practices cannot afford to run a lengthy, convoluted budgeting process. Across-the-board budget data from departments, databases, and reporting tools must be immediately accessible and revisable.
Practice Management

A Conversation With David Maister: What’s Our Deal?

At a recent conference, I heard a number of successful firm leaders describe how their firms had achieved significant growth and profitability. A common phrase used by each and every one of these firm leaders was “making sure that all the key people were ‘on the same page.’”Clearly, it was important that something was agreed to and shared among the members of these firms. But what? What does “being on the same page” really mean?
Practice Management

State of the Paperless CPA Firm

“Paperless” has been the term used by many practitioners to describe the transition of today’s CPA firms to more streamlined electronic work-flows that automate processes by eliminating the manual handling of physical documents. To better understand and evaluate the status of this paperless environment in 2007, the Association for Accounting Administration
Practice

Eisner Names Nachmias Audit Partner

Eisner LLP, a middle-market accounting and business advisory services firm, announced that Richard S. Nachmias has joined the firm as an audit partner in the sports, media and entertainment practice group.Nachmias offers more than 22 years of experience providing services to clients and companies in the media and technology industries. He formerly served as North American CFO of a global provider of advertising and marketing research and as CFO of an international advertising representation agency.
Practice Management

Workman to Lead BKD Firmwide Tax Services

William E. Fingland Jr., managing partner of BKD, LLP, announced Joplin Partner Lisa G. Workman has been appointed as firmwide director of tax services. Only the third person in BKD history to hold this post, she succeeds S. Richard Royster who retired in May 2006.Workman will target her leadership skills on developing opportunities to increase the depth and breadth of services.
Practice

5 Start-Up Mistakes Entrepreneurs Should Avoid

According to the Small Business Administration, one-third of small businesses fail in the first two years and one-half fail within the first five years, statistics that might discourage even the most determined potential entrepreneurs from trying to realize their business dreams. But avoiding the five most serious mistakes entrepreneurs can make in the startup phase can go a long way towards helping them achieve success, CNNMoney reports.The most deadly errors small business owners make in their first year are:1.
Practice Management

Outside Controllers Rarely Promoted to CFO

New research reveals that less than 5 percent of chief financial officers hired from outside their company were controllers.The survey by executive search firm Korn Ferry International shows that the number of Fortune 500 CFOs hired from outside of their new companies totals 190.
Practice Management

Crowe Chizek Named Best Place to Work in 5 States

Crowe Chizek and Company LLC, one of the nation’s largest public accounting and consulting firms, has been named one of the Best Places to Work in Indiana, Kentucky, New Jersey, South Florida and Tennessee. The work/life programs Crowe provides its 2,400 personnel include an overnight travel rewards program, a Women Into Leadership program and the CareerLink career development and performance management program. In addition, Crowe provides flexible work arrangements, wellness programs and personnel assistance programs.“This is a wonderful honor,” says Crowe CEO Charles Allen.
Technology

More Companies Squeezing Employee Internet Use

Businesses are becoming more and more strict when managing employee Internet use at work, a new survey shows. A national poll from Robert Half Technology revealed more than three-quarters (78 percent) of chief information officers (CIOs) polled recently said their company has either installed content-filtering or blocking software, instituted policies that detail acceptable Web browsing, or done a combination of both. The poll includes responses from more than 1,400 CIOs from a stratified random sample of U.S. companies with 100 or more employees.
Practice Management

Will Lower Salaries Send Execs Scurrying?

Can companies keep good executives without succumbing to the pressure of escalating pay packages? Yes, the Associated Press reports, but it's not easy.Take the example of Whole Foods Market Inc. The natural-foods grocer limits compensation for top executives to a multiple of the average Whole Foods worker's pay. The cap, which covers salaries and bonuses but not stock options, started at eight times average pay in the 1980s, and was raised to 14 times in the early 1990s as the company grew and went public.

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