Practice news

Practice Management

Deadline for Establishing a SIMPLE Retirement Plan Approaching Fast

"With the future of social security up in the air and traditional corporate pension plans on the path towards extinction, contributing to a retirement plan provides some peace of mind that you'll be able to retire comfortably," explains Andrew Schwartz CPA, founder of CPA Niche, LLC.Advertisement
Practice Management

Communicating During a Crisis Without Making it Worse

Maybe Patricia Dunn, the chairwoman of Hewlett Packard (HP), just wanted to know who was talking to reporters so she could be sure they had the most accurate information. It is more likely, however, that she wanted to find out who had loose lips so she could have them removed or at least silenced.
Practice Management

What Every CPA Needs to Know About TIC & 1031 Exchanges

It is easier than ever for small investors to acquire an interest in high-quality commercial real estate, thanks to an investment vehicle that has rapidly gained in popularity over the last four years, known as a tenant-in-common, or TIC. This trend has raised the stakes for CPAs with clients who are wondering whether a TIC investment is right for them, and if so, which one to select.
Practice

Most Accounting Firms See Strong Growth while Big Four Firms Shuffle

The revenue growth rates reported by a majority of Top 100 accounting firms are the highest reported since 2000, according to the Public Accounting Report (PAR), published by tax and accounting law information, software and services provider CCH.
Practice

Layoff Worries Hit Record Low Among Accounting & Finance Workers

Worker confidence among accounting and finance professionals rose 5.9 points, to 112.5 in August, according to the most recent Hudson Employment Index. The current level is more than ten points above the level of the previous August.
Practice

Ford Weighs Massive Buyouts in Hopes of Turnaround

With pressure building to make drastic moves to improve its bottom line, Ford Motor Co.
Practice

Mark Your Calendar: Tools of Employee Engagement Workshops

There are many key influencers of employee engagement, including motivation, trust, cooperation and loyalty. When staff are not engaged, quality customer care and financial performance, as well as other measure of performance and success, decline or remain stagnant.
Practice Management

Collections of Articles and Pronouncements Available

The Financial Accounting Standards Board (FASB) and the Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) have announced the availability of their 2006 collections.Advertisement
Practice Management

To Boost Productivity Companies Turn to Strategic Workforce Planning

“In many companies, traditional workforce planning was an onerous process that HR Imposed on management,” says Mary B. Young, Senior Research Associate with The Conference Board and author of a new study on strategic workforce planning. “Too often, the net result was a humongous report, blinding spreadsheets and a dizzying amount of data that provided very little value to the business.”The relatively new field of strategic workforce planning, however, involves analyzing and forecasting the talent that companies need to execute their business strategy.
Practice

Target: Accountants

Marketing to professionals such as accountants, attorneys and doctors is good because these relationships bring in other customers. Banks offering sometimes free business services conduct seminars and staff trade booths at other events catering to these professionals. Reyno Giallongo said, “They’re a wonderful referral source. This is a market segment we (bankers) all like to call on. It’s a segment of the market place that is generally profitable,” according to the Fairfield County Business Journal.
Practice Management

Top Ten Comments Found on Employee Surveys

More than two thirds of U.S. companies survey their employees. These surveys measure employee satisfaction, the effectiveness of internal policies and are even used to help recruit prospective employees.
Practice Management

CFOs Value Communication But Firms Don’t Provide Training

Communication skills have grown in importance for accounting and finance professionals, but workers may be on their own when it comes to developing this expertise, a new survey from Accountemps shows. Among chief financial officers (CFOs) surveyed, 75 percent said that verbal, written and interpersonal skills are more valuable now to accounting and finance professionals than they were just five years ago.
Practice Management

Reports Detail Massive Abuses at Homeland Security

A congressional report released Thursday slammed the Department of Homeland Security (DHS) for wasting hundreds of millions of dollars in hurricane relief and national security money on frivolous purchases and mismanagement of contracts.The report, prepared by staff of the House Committee on Government Reform, echoed an investigative report issued last week by the Government Accountability Office (GAO). It highlighted several examples involving the agencies within the massive department formed after 9/11.
Practice Management

NC State Wins Annual Student Case Competition

Representing North Carolina State University, the team of Hannah Sadler, of Cary, N.C., and Jason Matthews, originally from Kansas City, Mo., and currently of Raleigh, N.C., were declared the winner of the Institute of Management Accountants’ (IMA’s) annual Student Case Competition following a live finalist presentation at IMA’s Annual Conference and Exposition.“IMA’s student Case competition is an excellent opportunity for accounting students to develop their strategic planning, decision making and presentation skills – critical skills required for success in the management acc
Practice

White Paper Overview: Old Dogs & New Tricks

People have always been willing to change in order to improve the future. Consequently, old dogs can learn new tricks as they find more effective ways to adapt and leverage new technology, methods, processes, ideas, and social networks that help them improve the return on the investment they make in human capital. But can they create new tricks?According to Ron Baker, author of the white paper “Old Dogs Can’t Create New Tricks,” it’s not likely. Basically, what he means is that the older we get the less likely we are to create a ground breaking innovation.
Community News

PKF Texas Airs Best Practice Tips on BusinessMakers Radio Show

The Entrepreneur’s Playbook, a new radio series from Pannell Kerr Forster of Texas P.C. (PKF Texas), airs Saturdays during the BusinessMakers Radio Show on FM News Channel 97.5. Gregory Price, Director of Consulting Services, has been invited to be the voice of PKF Texas’ Entrepreneur’s Playbook, which will offer best practice tips, trends and insights on topics such as blogs, human capital, profit enhancement and cash management.The BusinessMakers™ Radio Show is a two hour weekend radio talk show passionately focused on free enterprise and entrepreneurialism.
Practice Management

Six Ways to Avoid the Summer Sales Slowdown

"You hear people say it all the time: business is just slow in the summer," says Steve Johnson, co-author of Selling Is Everyone's Business: What It Takes to Create a Great Salesperson (Wiley, 2006, ISBN: 0-471-77673-4, $24.95). "For many sales organizations, it seems acceptable to slack off, to cut corners, to put off making the tough calls because 'everyone's on vacation' or 'no one's in the mood to make big decisions.' Well, naturally if you expect business to be slow, it will be slow."So how can you keep your sales force from falling prey to the self-fulfilling slow summer prophecy?
Practice Management

Travel expense management systems can save time, money

Automated expense management offers real advantages to employees and management, ranging from significant cost savings to companies on travel expense processing to reducing the time it takes for an employee to fill out a spreadsheet expense report or a paper report. The technology is also designed to detect fraud and to document approval processes, which appeals to financial managers focused on Sarbanes-Oxley (SOX) compliance.
Practice

Professional Accounting Societies Applaud COSO Small Business Guidance

The American Institute of Certified Public Accountants (AICPA) and the Institute of Management Accountants have both affirmed support for new guidance for smaller public companies released during a webcast on July 11 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
Practice Management

Daimler Plan to Outsource Accounting Sparks Opposition

DaimlerChrysler may outsource some of its accounting work to countries that pay lower wages, German media sources reported.According to the company’s works council, the German-U.S. car manufacturer is considering the Czech Republic and India for some of the company's accounting work. The works council opposes the outsourcing plan and has threatened a veto. "We are saying without a balance of interest this simply won't fly," said Erich Klemm, head of the council, according to a report in Monday’s Stuttgarter Zeitung.

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