Practice news

Practice

Board Oversight is Positive for Both Profit and Non-Profit Companies

A new study shows non-profit boards that practice good governance and stress accountability contrary to groups urging more oversight of non-profit organizations. The Johns Hopkins University Listening Post Project issued the report in which a vast majority of the 247 boards surveyed “are highly or significantly involved in the key strategic oversight functions that non-profit boards are expected to perform,” according to the study cited in the Fort Worth News-Sentinel.
Practice Management

White Paper Overview: How Automation is Changing the AP Landscape

Automated invoice and billing management has the potential to significantly impact both cash flow and regulatory compliance for many businesses.
Practice Management

The 3 Biggest Mistakes Women CPAs Make in Selling (That Men Don't) and How to Cure Them! <b>A Guest Article by Allan Boress</b>

Over the years I have attended more than 400 sales interviews conducted by clients to evaluate how they performed and where they needed to improve.As the author of the only Best Practices study of selling professional services (The I-Hate-Selling Book), I have interviewed some of the most successful women professionals to discover why they succeeded at selling – and how.There are 3 Mistakes women make in selling…most often without realizing them…that costs sales, clients and opportunities that otherwise would have been won.
Practice Management

Using Excel Solver

What-if scenarios are useful business tools. They can help business-owners and other decision makers analyze the efects of their actions before they are implemented. Fortunately, Microsoft Excel offers decision makers a useful tool, called Solver, to help users explore what-if scenarios.Using Excel Solver, you can find the minimum or maximum value for a single cell, by modifying other cells that are directly or indirectly related to the target formula. The minimum or maximum value that is found by modifying other cells is called a target cell and the target formula resides in this cell.
Practice Management

Survey Finds Small Business Planning Lacking

Small businesses are built with their owners’ sweat and diligence but a new survey shows they are giving little thought to their business’ futures. The survey released last month and sponsored by Papalia Financial, shows that 85 percent of the respondents acknowledge that they are not content with their current financial planning according to their prepared statement. 200 small business owners in Connecticut, New Jersey, New York, and Pennsylvania participated in this survey.
Education & Careers

One Firm’s Answer to the 150 Credit Hour Requirement

For many younger employees, benefits can seem pretty irrelevant. Not at Beers & Cutler, a leading accounting and consulting firm in the Washington, D.C. metropolitan area. On Monday, Beers & Cutler announced its 150 Hour Tuition Reimbursement Program.The program is an innovative tuition reimbursement program to assist qualified undergraduate and graduate students in meeting the 150 credit hour requirement in order to sit for the CPA exam.
Practice Management

Mark Your Calendar: First Women’s Summit

“Helping Women Professionals Succeed” is the theme of the first Women’s Summit hosted by the Work/Life & Women’s Initiatives Executive Committee of the American Institute of Certified Public Accountants (AICPA) scheduled for Tuesday, October 11, at the Hyatt Rosemont in Chicago, Illinois.“Women currently make up more than 50 percent of all accounting graduates in the country,” said Summit Chair Leslie Murphy of Plante & Moran and Chair-elect of the AICPA.
A&A

The Six Myths of Outsourcing

While outsourcing is still a relatively young business, its impact on the accounting industry is starting to be understood. While it is still in its infancy stage, firms are starting to think about how outsourcing can be used in their practices to help them accomplish their goals. This article will explore some of the early fears most of us had about outsourcing and how most of those fears have been eliminated.
Practice

Grant Thornton LLP Revenues Rise 29%

Grant Thornton LLP reported revenues increased 29 percent to $728 million during the fiscal year ending July 31, 2005 making it the revenue growth leader for U.S.
Practice Management

Donating Vacation Days For Hurricane Relief

The Internal Revenue Service (IRS) will allow workers and employers donating their paid days of vacation to victims of Katrina to get a tax benefit. Usually contributions to charity can only be written off by those who itemize their taxes but this IRS rule is an exception that applies to those who can itemize and those who cannot. “I think this is a great avenue for people who want to provide relief,” said IRS Commissioner Mark W. Everson speaking with the Los Angeles Times. “They can give in a way that might be easier than giving cash.
Practice

President Bush Signs Flexibility for Displaced Workers Act

On Friday, President Bush expanded disaster relief employment by signing the Flexibility for Displaced Workers Act. Advertisement
Education & Careers

Middle Managers Carrying Companies Through Rocky Times

With companies increasingly looking outside their own ranks for top talent, the ability of the middle managers to quickly adapt during the transition is critical.While the CEOs enjoy high profiles, big salaries and generous bonus packages, middle managers are often the forgotten heroes of big-business transformations. And CEOs who recognize this can themselves enjoy greater success.The Wall Street Journal reported that dozens of CEOs have been ousted in the last 12 months.
A&A

U.S. Businesses Unprepared for Disaster

For nearly 40 percent of American businesses, said business continuity planning is not a priority.
Technology

ADP Announces “Do-It-Yourself” Payroll for Microsoft’s SBA Software

ADP Small Business Services, part of the Employer Services division, last week announced the general availability of ADP Payroll for Microsoft Office Small Business Accounting 2006. This new ADP software solution allows users to process payroll in four clicks, yet is capable of calculating federal, state and local taxes. “After activating ADP Payroll for Microsoft Office SBA, I was successfully prompted through the steps without any instructions. Now, all I have to do is log onto the web site and enter each month’s numbers.
Tax

IRS Increases Mileage Rate Through the End of 2005

The Internal Revenue Service (IRS) and Treasury Department on Friday announced an 8 cent per mile increase to the optional standard mileage rates for the final four months of 2005. Between September 1 and December 31, 2005, the rate will increase to 48.5 cents for all business miles driven.“This is about fairness for taxpayers,” said IRS Commissioner Mark W. Everson in announcing the increase. “People are entitled to deduct the real cost of operating a vehicle.
Practice Management

Small Business Compliance with Current Labor Laws

Labor Day pays tribute to the American worker. What better time to remind employers that compliance with all labor laws promotes the spirit of hard work and enterprise and is not only well-warranted but can help prevent expensive penalties. Companies that do not keep current with constant changes to federal, state and OSHA labor law postings risk being cited for non-compliance, says Fiducial, an international provider of professional business services to small businesses and individuals.
Practice Management

Accretive Solutions Sets Up Disaster Relief Fund

Accretive Solutions, Inc. has established a Disaster Relief Fund for the victims of Hurricane Katrina. Each dollar donated by an Accretive Employee will be matched by Accretive up to a total of $25,000. All funds will be allocated to the American Red Cross.“We wanted to do something to help. Through this fund, any contributions our employees planned to make on their own will have twice the impact,” Joseph V. Amella, President and CEO of Accretive said in announcing the creation of the fund.
Practice

Occupancy Costs -- More than Just Rent

While rising rents in commercial real estate will impact occupancy costs, other components such as technical infrastructure and work environment changes can push these costs even higher, says Ryan Morris, President of Real Estate Partnerships & Alliances Inc. in the Houston Business Journal.
Practice

Businesses Seek Solutions for Storing E-mail

Failing to retain e-mail records may cost Morgan Stanley $10 million.The Securities and Exchange Commission is threatening to levy the fine because the Wall Street brokerage firm did not keep e-mails connected with a number of big cases the SEC is investigating, the Wall Street Journal reported.The newspaper, citing people familiar with the matter, said that the firm, the SEC and other regulators met last week in Washington to discuss the document-retention problems.
Technology

New Compliance Solution Saves Time and Money

A new service from e-know, Inc. automates the outbound communications, business ethics policies, finance and administration controls, non-compete/non-disclosure agreements, conflict of interest policies, operating procedures, sexual harassment policies and other compliance related activities helping commercial and government organizations dramatically reduce the time, expense and effort required to implement initiatives, conduct audits and manage the organization’s overall risk mitigation effort.“Companies continue to spend huge sums and

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