Practice news

Community News

KPMG Sells Dispute Advisory Services, Focuses on Forensic Practice

KPMG LLP, announced this week that it has entered a definitive agreement to sell its Dispute Advisory Services (DAS) unit to FTI Consulting, Inc., a multi-disciplined consulting organization, for approximately $89.1 million.
Community News

Client Retention Secrets

The typical business may lose up to 25% of their clients each and every year. Overhead associated with these clients decreases when the cost of marketing to repeat customers declines.It costs five times more to acquire a new customer than to retain an old one. Creating higher revenue at the same expense directly adds to the bottom line as higher profit. Reducing turnover by 5% could add 100% to your bottom line.Should you forget about cultivating new customers? Of course not, but it is important to understand the extra values in retaining customers.
Practice

Organizations Must Innovate or Fade Away

By Bruce L. Katcher, Ph.D. President of The Discovery GroupAccording to Benjamin Franklin, "Insanity is doing things over and over again and expecting different results." Many organizations offer the same types of products and services to the same types of customers in the same way year after year. And, then they wonder why: The competition can offer the same products and services at a lower price; Their once high value products and services are now viewed by customers as commodities;  
Practice Management

Why Have a Mentoring Plan?

Most accounting firms are suffering from the same things these days: how do you keep your staff around? With jobs so easy to find, especially in the accounting industry, employers need to find new ways to encourage employees to develop career commitments.Development of a mentoring program can go a long way in helping staff see that you are serious about helping develop their careers.
Practice

How To Get Better Client-Centered Referrals

To get the best referrals, you need more than naturally occurring word-of-mouth. You need to have a program to actively elicit referrals from a number of services.You may think that clients will just give you referrals because they like you or your service. However, it doesn’t always happen this way. To have a top practice, you must do more than produce good work and wait for referrals to follow. Some clients are more likely to give referrals than are others. When you identify someone who is liberal with their referrals, cultivate them.
Practice Management

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?
Community News

Ten Benefits of a Mission Statement

Reprinted with Permission from "The Goals Guy". A mission statement causes you to expand your perspective, and to examine your innermost thoughts and feelings.
Practice Management

Former Deloitte Consulting Partners Form Consulting Practice

In the aftermath of the Sarbanes-Oxley Act of 2002, most of the nation’s largest accounting firms broke ties with their consulting practices. After Deloitte Touche Tohmatsu scrapped plans to spin off its consulting practice and rename it Braxton, a group of former Deloitte Consulting employees formed their own company, Archstone Consulting. Archstone was formed in June but just officially hung out its shingle on Tuesday. Based in Stamford, CT, Archstone has about 60 professional employees, half of whom once worked for Deloitte Consulting.
Practice Management

Merging Financial Services: A Wave of the Future?

The city of Citrus Heights, CA is home to an innovative financial network of firms that continues to grow and offer a multitude of services to its clients.Tax & Financial Professional Center, Inc. is way more than a CPA firm. The firm provides tax services to some 5,000 clients, but that's only the beginning.
Community News

Practice Differentiator: Written Guarantee To Clients

Brown Smith Wallace, LLC, a locally-owned CPA and business consulting firm in Missouri, has completed a re-branding process, which includes issuing a written guarantee to reinforce the values, traditions, and commitment to their clients.
Practice Management

McCall Resigns as NYSE Director

The fallout from the flap surrounding former New York Stock Exchange Chairman Richard Grasso’s compensation continued late last week with the resignation of NYSE board member H. Carl McCall.McCall, the former New York State controller, had the supreme bad luck of having to defend the earlier actions of the NYSE’s compensation committee after he took over as its chair in June.
Practice

Overcoming Attendance Problems: Free Report

"Overcoming Attendance Problems" shines the legal spotlight on mistakes managers can make - and how to avoid them - when dealing with absenteeism and tardiness problems, especially regarding Family and Medical Leave Act and Workers' Comp requirements, along with pitfalls that exist when absenteeism decisions bump up against other anti-discrimination laws.Every time an employee takes an unexpected day off, it not only disrupts your company's schedule, it also wastes company cash.Plus, you have to deal with complying with the Americans with Disabilities Act (ADA), Family and Medical Leave
Practice

Corporate America Must Take Leadership in the New Economy

Guest Article, submitted by Werner ReisacherThere are as many opinions about the reasons behind the present economic crisis as there are personal interest groups. However, the factors leading up to the present economic situation go beyond opinions and personal interests. They are by far more complex and can be traced back to the 1990’s. During those years, cost reduction exercises were routine. The legacy software systems in place could not support these activities and provide the integrated solutions needed to improve productivity.
Practice Management

Ten Personal Board of Directors Insights

Reprinted with Permission from "The Goals Guy". A personal board provides both wisdom and support for the attainment of a specific purpose. Their objective is to help you cross the chasm from the known to the unknown. Consider the roles each person on your board will play. Consider having an entrepreneur along with a clarifier who asks clear questions, a connector who leads you to other people, a challenger who helps you act boldly, and a wise elder or sage.
Technology

AccountingWEB Find: Employment Screening Resource

Employment Screening Resource, is like having your own in-house screening specialists. ESR specializes in background screenings and is a Consumer Reporting Agency (CRA) and Human Resources consulting firm providing pre-employment screening reports to Employers, Human Resources and Security departments. ESR combines human resources, public records and legal expertise in providing your company with fast, accurate and cost-effective employment pre-screening. Employers have become painfully aware of the tremendous consequences of bad hiring decisions.
Practice Management

Changing Attitudes on Firm Flexibility

By Phyllis Weiss Haserot and Holly EnglishDespite the desire by many professionals at some time in their careers to have more flexibility in their working arrangements, particularly now that technology makes it so much easier, decision makers and even the candidates for flexibility themselves resist such arrangements.The deterrents to faster progress are perceived fears and uncalculated costs and benefits.
Practice Management

Five Ways Small Businesses Can Avoid Ethics Problems

Loren G. Carlson, founder and chairman of CEO Roundtable, LLC suggests five techniques CEOs of small businesses can use to avoid ethics problems.The five ways:Recognize there is no difference between "business ethics" and "personal ethics." There is no way to justify doing something in business that you would not do in personal life.Establish a corporate culture that rewards ethical decisions and practices.
Practice

Life as a CPA: Business Development

By, Melinda Guillemette, Marketing ConsultantAfter all the business development buzzwords and tactics (web sites, brochures, seminars, articles, speeches, coaching, motivating, compensating and on and on) have dulled to a whisper, a few simple things remain. It boils down to a few fundamentals to understand about life as a public accountant, and a few outcomes that will result. Here are ten everyday realities about being a professional in a CPA firm:Know that being a good accountant means a lot more than understanding the technicalities.
Practice Management

AICPA Task Force Issues Report Containing 14 Recommendations

The task force appointed in February to study the role and responsibilities of the governing Council of the American Institute of Certified Public Accountants has sent its report, containing 14 recommendations, directly to Council, the AICPA announced this week. "The Institute authorized us to undertake whatever actions and inquiries we thought appropriate to fulfill our assignment," said Timothy O’Brien of Colorado, who headed the seven-member task force. "Our mission was to evaluate how representatives are elected to Council and how Council conducts its activities.
A&A

Resource: Free Management and Operations Reports

Now it's easy to get the free special reports that have been used by over 100,000 managers all across the United States to improve their operations and stay on the right side of employment law. Below are just a few free downloadable reports you may access from Alexander Hamilton Institute, Inc. (AHI).

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