Practice news

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).
Community News

2007 Excellence in Project Accounting Philosophy Essay Scholarship Contest Begins

The 2007 Excellence in Project Accounting Philosophy essay scholarship contest launches on January 1, 2007.
Practice Management

2007 Salary Guide for Accounting and Finance Professionals Released

Compliance demands and expansion of businesses will increase the need for skilled workers in the accounting and finance fields and make recruitment even more difficult in the coming year, according to the 2007 Salary Guide released by Robert Half International.Advertisement
Tax

Churches Adopt Business Management Methods

Megachurches with memberships in the thousands and budgets in the millions are hiring more staff and consultants with business experience as they look to implement corporate management and accounting methods for their congregations.Advertisement
Practice Management

Pennsylvania Firm Sells Audit Group to Regional Ally

One of the manifestations of regulations separating external accounting from internal auditing is that accounting firms some times find themselves shedding a division in order to grow.Such is the case for Beard Miller Company, LLP. The Pennsylvania-based CPA firm, which goes by bmc, announced the sale of its internal auditing and compliance division to McKonly & Asbury, LLP, also of central Pennsylvania.
Practice Management

Keep Those Receipts: IRS Guidance on Per Diem Expense Reimbursement

Employers who routinely pay per diem allowances in excess of the federal per diem rates need to track the amount of expense reimbursement allowances paid to employees on a per diem basis, according to guidance issued last week by the Internal Revenue Service (IRS).
Practice Management

Mark Your Calendar: New England Practice Management Conference

On Thursday, November 30 and Friday, December 1, the Massachusetts Society of Certified Public Accountants (MSCPA) is presenting their Annual New England Practice Management Conference at the Mohegan Sun Casino in Uncasville, Conn. The conference will cover a variety of practice management topics, from staff retention and partner compensation, to leadership skills and succession planning.
Education & Careers

Firms Need to Attract New CPA’s

Accounting firms need to attract more students into the field to alleviate the severe talent drought, Leslie Murphy, chairwoman of the American Institute of Certified Public Accountants (AICPA), told an audience Wednesday.“Our profession has to do more to make it inclusive and attractive if we’re going to successfully compete with other career options available,” Murphy said in closing a conference in Boca Raton, Fla.Demand for accountants continues to grow due to trends in business and regulation, she said.“Business complexities mean it takes more time to complete routine acc
Practice Management

Stress at work: What keeps employees up at night

A recent survey reveals disturbing results showing 95 percent of managers feel life is stressful at the office. As a result, stress caused 28 percent to take time off from work. And stress at work is not restricted to managers."Stress in the workplace is a major issue for businesses,” Managing Director of SoftSkill EMEA, Kevin Young says of the study. “Helping people to manage stress can have a positive effect on their effectiveness at work and reduce the number of stress-related absences."
Practice Management

Accountants get another choice in professional liability insurance

The Navigators Group, an international insurance holding company, on Monday introduced APL InNAVation(sm) Accountants Professional Liability (APL) policy for accounting firms. “The accountants professional liability marketplace is underserved,” Brian Braden, Vice President of Navigators Pro, a division of Navigators Management Company, said in a prepared statement.
Practice Management

The One-Firm Firm Revisited <i>by David Maister and Jack Walker</i>

In 1985, one of us (David Maister) wrote an article for the Sloan Management Review called “The One-Firm Firm.” It identified a strategy common to leading firms across a broad array of professions — creating institutional loyalty and team focus.The firms named in that article were McKinsey, Goldman Sachs, Arthur Andersen, Hewitt Associates, and Latham & Watkins, where Jack Walker became managing partner three years later.If one is prepared to accept the argument that Accenture (formerly Andersen Consulting) is the legacy firm of Arthur Andersen, and not the defunct audit-based busi
Practice Management

Tips for Overcoming Financial Complexity in Presentations

Presenting financial information to a non-financial audience presents several challenges. Whether you are presenting to a single individual, small group, or shareholders meetings, here are ten tips to help you communicate complex financial data effectively. Use visuals. It is difficult for some people to put numbers on a page, even numbers in a table, into a context they can understand. Help them out. Give them some visuals to go along with the information you are presenting.
Practice Management

Mark Your Calendar: Inter-Generational Marketing Team Teleconference

Is there a generation gap in your marketing department?Overcoming tensions between generations of talented, creative, high energy members of a marketing team is vital to increasing the success of a firm’s marketing efforts, not to mention improving office morale. On Thursday, October 26, Phyllis Weiss Haserot, President and founder of the Practice Development Council, will be presenting Resolving Inter-Generational Issues for Marketing and Marketing Teams as part of the Association for Accounting Marketing’s (AAM) Quarterly Virtual Learning Series.
Practice Management

Cohabitating Couples, Straight or Gay, Need to Know Rights

Now that the U.S. Census Bureau has found that married households are no longer the nation’s preferred living arrangement, the definition of “family-friendly” policies may change for a growing number of companies.For the first time, married couples make up a minority of the nation’s households, at 49.8 percent, according to the Census Bureau’s 2005 American Community Survey. Marriage did not play a part in 50.2 percent of roughly 111 million American family households.Single women headed 14 million households and single men headed 5 million.
Education & Careers

Downgrading Partners Could Cost Firm: EEOC Able to Seek Monetary Relief

The U.S. Supreme Court has declined to hear a petition filed on behalf of international law firm Sidley Austin Brown & Wood (Sidley & Austin) regarding the ability of the U.S. Equal Employment Opportunity Commission (EEOC) to pursue monetary damages and other individual victim-specific relief in the ongoing discrimination suit against the firm. The refusal comes just months after the number of workers age 55 and older reached 24.6 million, the highest level ever recorded, according to a study from Challenger, Gray & Christmas.
Practice Management

Devilish Employees: They’re a Year-Round Threat

Managers say the ghouls and goblins who traditionally show up on Halloween can strike at any time in the workplace. In fact, some spend about one-fifth of their time untangling personality conflicts among co-workers.Certain problem behaviors haunt executives throughout the year. A poll of 150 senior executives from the nation’s 1,000 largest companies revealed that 18 percent of their time is wasted resolving staff conflicts.
Practice Management

IPA Names Best Managed CPA Firms of 2006

Hundreds of certified public accounting (CPA) firms participated in INSIDE Public Accounting’s (IPA) Annual Benchmarking Survey.
Practice Management

Diversity and Turnover: An Unexpectedly Weak Link

Employees are more likely to quit if few of their co-workers share the same race. That’s the popular thinking among diversity consultants.

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