Practice news

Practice

Eight Secrets for Generating Big, Bold, Creative, Profitable Ideas

Secret 1: Accept All Ideas. That's right. All ideas, not just the ones that you feel comfortable with or that seem to make sense. Obviously, you're not going to implement every idea (especially considering the fact that you're aiming for 1,000 of them in the initial generation phase!), but you must greet them all with gratitude, respect, and a positive attitude. Acceptance makes people comfortable enough that they feel free to submit more and more ideas. Remember, the more ideas you start with, the better the end product.
Practice Management

Five Stumbling Blocks To Successful Networking And How To Overcome Them

By Lydia Ramsey. - The ability to connect with people is essential to success in any business. Professional networking events present opportunities to interact with others on a personal level and to develop profitable relationships. These occasions are critical for anyone who wants to grow a business or promote a career.Many people are simply not comfortable walking into a room full of strangers and striking up conversations. Here are five common stumbling blocks that you may face and tips to help you overcome them.A RELUCTANCE TO TALK TO STRANGERS.
Community News

Investment Firms Digging Deeper into Client Relationships

Some investment houses are going the extra mile to forge lasting relationships with clients by offering “life planning” advice as part of the investment package, the Associated Press reported.You've seen the Morgan Stanley commercials where the investment advisor could be mistaken for a spouse, well that strategy is taking hold across the industry as investment advisors talk to their clients about life goals, dreams and values.Some are going so far as taking their clients away on short retreats to country clubs and resorts to get a better handle on the individual's needs.
Tax

Don’t Ignore Tax Implications During Technology Purchases

A survey of more than 200 senior IT and finance executives by IDC Research and Deloitte Consulting LLP, Factoring Tax Savings into the IT Acquisition Process, reveals that less than 30 percent of respondents consult with their tax department during the technology purchase process. As a result, companies may be losing millions of dollars in potential savings, both immediate and long term, by ignoring U.S.
Education & Careers

CEOs, Partners Face Tough Choices in Deciding When to Step Down

The toughest task for many CEOs is not running their companies but determining when it is time to step down, according to a new report in Across the Board, The Conference Board's magazine.Says James Krohe Jr., author of the article: "For the miscreant CEO, the question of when to leave the job has an easy answer: 'Before they find out.' For the merely mediocre senior executive, the answer is different--'Before they push me out' -- but equally easy. But what about the CEO who is neither being shoved out the door nor sneaking out by the freight elevator?
Practice

Networking Made Simple - Develop New Business Opportunities

Networking is an important way to develop new business opportunities, yet for many professionals it's their least favorite marketing activity. These pointers can help you network better and get results. Listen, don't talk. Don't drink. This is business. Choose your opportunities. Hunt where the ducks are. Don't be generic. Rehearse a 30 second pat statement that reveals some details about who you are as a person, what you do for a living, and what your firm specializes in. Target only one person at each event and get to know them well.
Practice

Creating a Professional Referral Team

Barry LaValley - As you look at your business plan for the coming year, how are you going to build referral relationships in your community?
Education & Careers

Certified Credit Executive Designation Worth $20,000, Says Recent Survey

The worth of Certified Credit Executives (CCEs) to employers has risen dramatically in the marketplace, according to a recent survey by independent newsletter publisher Credit Today, which recently completed its 2004-2005 Salary & Job Satisfaction Survey, and examined this issue in depth. "More than in any of our three prior surveys over the past seven years, this year's survey proves the worth of the CCE designation - both to designees and to their employers," said Credit Today Publisher Rob Lawson.
Practice

Survey: 30% of Execs. Were Asked to Compromise Their Integrity

Executive integrity is largely intact and on target, according to an online poll conducted in January by the Dallas chapter of the International Association of Business Communicators (Dallas/IABC).
Practice Management

The Firm of Tomorrow....Ready, Set…Grow!

By Gale Crosley, CPA - For years, the Big Four have used business development professionals. Now, Sarbanes/Oxley and other environmental changes make it a wise best practice for mid-size firms, as well. Although smaller firms have greater potential to pursue larger, more sophisticated clients, they may lack the needed large opportunity development skills. But it’s more complex than simply hiring the right person. It’s a matter of properly integrating this business development professional into your environment, and educating partners about the potential impact of the decision.
Practice

Chattanooga-Based CPA Firm Joins Newly Formed Association

A new global alliance (as yet to be named) of accounting firms with annual fees of $15 million or more announces that Joseph Decosimo and Company, PLLC (Decosimo), a $28 million firm headquartered in Chattanooga, Tennessee, has joined seven other Top 100 firms in the new association. The organization provides an alternative way for larger, more sophisticated firms to leverage their resources, share best practices and offer clients access to international services.
Practice Management

Ten Signs of Job Dissatisfaction—Don't Ignore Them!

The new year is a great time to analyze your job satisfaction. As you make your new year’s resolutions, include career fulfillment as a top priority.There are ten sure signs that you are experiencing job dissatisfaction.
Practice

Most Companies Get an 'F' in Fraud Prevention

Enron had a code of conduct. Enron had a hotline. And in the end, Enron had fraud. Today, companies operate with a false sense of security because they either don't have a fraud prevention program or the program they have is a legal, yet ineffective "fig leaf." "One key to fraud prevention is to create an atmosphere where employees feel confident in reporting wrongdoing without being victimized, even if executives appear to be involved," explains Toby Bishop, president & CEO of the Association of Certified Fraud Examiners (ACFE), the largest anti-fraud association in the world.
Practice

Looming Talent Crisis Signals Need for Firms to Employ New Strategies

Impending Baby Boomer retirements, a widening skills gap driven by declining educational standards, and outdated and ineffective approaches to talent management are combining forces to produce a "perfect storm" that threatens the global business economy, according to new research conducted by the Human Capital practice of Deloitte Consulting LLP ("Deloitte Consulting") and Deloitte Research, a part of Deloitte Services LP.In a recent U.S.
Practice Management

When Love and Work Collide: Companies Should Set 'Workplace Romance' Ground Rules

Workplace romance can jeopardize your career, according to CareerJournal.com, The Wall Street Journal's executive career site. The majority of human resource professionals and corporate executives agree that workplace romance is something they would avoid personally, yet their organizations typically don't have policies addressing it, reported a Society for Human Resource Management (SHRM) and CareerJournal.com Workplace Romance survey.
Practice Management

Basic Rules For Growing Your CPA Firm

By Steve McIntyre-Smith, President, MarketingForAcountants.com - In days gone by professionals NEVER did any marketing. In fact, it wasn't even allowed in most countries until the mid 1980's, and even then, only in a very conservative and restricted manner.Once open for business one simply put a brass nameplate outside one's office, had a letterhead and business card printed, called a few Bank Managers and other contacts and the work started to flood in.
Practice Management

The CPAs Are Coming: The Evolution of the Profession

Although the role of certified public accountants (CPAs) has been gradually evolving for two decades, a recent report by California-based Tiburon Strategic Advisors highlights how CPAs are making a major push into financial planning, as they quickly redefine themselves to meet market demand. By 2006, almost 40% of CPA firms plan to offer financial planning, up from 14% in 2002, the study says. Tax professionals cite two key reasons for incorporating financial planning into their existing business: an increase in income and personal satisfaction.
Education & Careers

GE Tops Ranking of Best Companies for Executive Development

General Electric ranks as the best company for developing executive talent, according to a new ranking on the topic by Executive Development Associates, a global executive development firm. The San Francisco-based firm conducted a survey of chief learning officers and human resources executives at companies around the globe in December 2004. The respondents each received a listing of more than 75 companies and voted for companies with exceptional executive development strategy, systems and programs. "GE received 67.7 percent of the votes.
A&A

Working Next to the Competition Embracing Opportunity in a Multi-Provider Environment

By Gale Crosley, CPA - For decades, a simple, one-to-one relationship existed between CPA firm and client. Now, Sarbanes/Oxley has changed the landscape, potentially pairing a single client with multiple providers. Although the legislation chiefly affects the public environment, it has brought heightened sensitivity to conflict-of-interest in the private sector as well. The scenario is analogous to 1984 and the breakup of AT&T, which had held a virtual monopoly in the telecommunications industry.
Practice Management

Herding Tigers and Other Lone Rangers

By Gale Crosley, CPA - For CPAs, winning significant opportunities is the ultimate team sport. If you or other tigers in your firm are accustomed to going it alone, you'll find it's next to impossible to do this consistently when the business is large and complex. The reluctance of CPAs to recognize this keeps many from conquering high-value targets. All Together Now!Would a quarterback ever appear alone on the field to face down a full roster of opposing players? Of course not. The same thinking applies here.

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