Practice news

Practice

New Opportunities Are Available For CMA Certification

The Institute of Management Accountants, the national organization devoted to promotion and education in the field of management accounting, has announced the launch of new preparation materials for the Certified Management Accountant (CMA) examination.The CMA Learning System, a review course for the CMA exam, will be available in the spring of 2004.
Practice Management

FCC’s New Fax Rules Cause Furor, Implementation is Delayed

First it was the telemarketers whose wings were clipped, now in a surprise ruling, the Federal Communications Commission is cracking down on the sending of unsolicited facsimiles. The FCC has said it made the ruling to stop millions of unwanted faxes, that come at times even after the recipient has been asked to be removed from a fax list. The FCC issued the law on July 3 as an amendment to 1991’s Telephone Consumer Protection Act. The FCC’s rule will require the marketing and business-to-business communications that many companies rely on to build their clientele.
Practice Management

Corporate Executives Get Help With Security and Privacy Strategy

A joint paper released by Canadian Information and Privacy Commissioner Ann Cavoukian and Deloitte & Touche LLP, provides corporate executives with suggestions for developing strategies for information security and privacy protection.The Security-Privacy Paradox: Issues, Misconceptions and Strategies examines the complex and often misunderstood relationship between the disciplines of information security and privacy protection."The evolution of the computer from a pass
Practice Management

ABA Gives Corporate Attorneys Whistleblower Permission

Recent corporate scandals have now affected the law profession with the American Bar Association voting this week to compel corporate attorneys to report suspicions of fraud — a major change in attorney/client confidentiality rules. With attorneys under growing fire for the role they played — or didn’t play — in looking the other way in cases such as Enron and WorldCom, the ABA took the dramatic step at its annual meeting to adopt standards that are similar to Securities and Exchange Commission rules now in effect.
Practice

Winning Significant Opportunities in Today’s Environment

By Gale Crosley, CPA and ConsultantRecent events in the profession will continue to result in more and larger clients evaluating a potential change in their CPA firm over the next couple of years. Firms which invest in the expertise necessary to win significant opportunities have a once-in-a-lifetime ability to grow their revenue substantially. In evaluating this ability to win, I find that the chasm between business development best practices of corporate America and those of professional CPA firms is shockingly wide.
Practice Management

When Management is Caught in The Middle

By, Kaye Vivian, Marketing Communications ConsultantThere are moments when anyone in middle management of a firm can feel trapped between an order given by a partner and the staff likely to feel the negative impact of that order. When given such an order, who deserves support more--the boss who controls the manager's destiny with the firm or the staff who rely on and trust him/her to protect their interests? It's a difficult call. To refuse a partner's directive will create trouble with the partner. To carry it out, however, there's sure to be trouble from the staff below.
Practice Management

Survey: The Keys to Happiness at Work? Flexibility

Giving employees something to smile about at the office may be as simple as offering them more control over their time, a recent survey suggests. One-third (33 percent) of workers polled said greater schedule flexibility would result in increased job satisfaction.The survey was developed by OfficeTeam, a leading staffing service specializing in highly skilled administrative professionals.
Practice Management

'Subcertification' Becomes Widespread Practice

One year after the Sarbanes-Oxley Act required CFOs and CEOs to certify their company's financial statements, a new survey by the Association for Financial Professionals (AFP) reveals that public companies are asking other corporate financial professionals to vouch for reported information as well.
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 Management

Niche SuperConference Takes 'Synergy' to New Heights

Webster's Dictionary defines "Synergy" as "a mutually advantageous conjunction or compatibility of distinct business participants or elements." For years, accounting associations and professional networks focusing on industry-specific or service-specific activity have leveraged the concept of synergy to bring added value to like-minded business professionals.
Practice Management

Competitors Accuse MCI of Fraud and Racketeering, Cite National Security Risk

"Project Invader" and "Project Scorpion" were two of the alleged names long-distance company MCI gave to schemes its competitors claim were designed to avoid paying hundreds of millions of dollars in tariff charges to local access carriers.Former MCI technicians, who allegedly disclosed the scheme’s inside code names, described to investigators an intense internal pressure to reduce access charges.
Practice Management

SEC Issues Study on Principles-Based Accounting System

The Securities and Exchange Commission (SEC) has released a staff study recommending the adoption by the U.S. financial reporting system of a principles-based accounting system. Congress' intent in requesting the study was to have the staff consider whether a different standard-setting paradigm from the one that exists today would be beneficial to U.S.
Practice Management

Crowe Chizek: Adding Partners, Offices For National Growth

Mark Hildebrand is a man on a mission. As CEO of Indiana-based Crowe Group LLP, and its subsidiary Crowe Chizek LLC, the eighth largest CPA firm in the United States, Mark Hildebrand very quickly and comfortably talks about a vision for national growth, goals for the firm, and the plan to get there.
A&A

Intuit Launches Payroll Referral Reward Program

Intuit, a leading business and financial software maker, has launched its new Accountant Payroll Referral Reward Program, offering rewards and incentives to accountants who refer clients to Intuit Payroll Services full-service payroll solutions.Those wishing to participate in the program will need to register with Intuit to be eligible.
Community News

Corporate America Lagging in Internal Control Preparedness

Deloitte & Touche Press ReleaseA survey from Deloitte & Touche LLP underscores that more than a few U.S. corporations were unprepared to meet the original deadline of Section 404 of the Sarbanes-Oxley Act for introducing strong internal controls and processes for implementing the Act's provisions regarding the fairness, accuracy, and thoroughness of their financial reporting.In particular, the survey of 65 top human resources executives of Fortune 1000 companies highlighted disagreement and confusion over human resources' role in helping companies achieve compliance.
Practice Management

CEOs Organize Forum to Share Best Practices

The rules and regulations are coming from all quarters, but U.S. executives are taking it a step further by creating their own group to monitor corporate performance and accountability.In the post-Enron corporate world, it has never been a more challenging time to lead a major U.S. corporation. The 2002 Sarbanes-Oxley Act put more responsibility on the shoulders of CEOs to ensure accurate financial reporting and accounting.
Practice Management

How to Create and Enforce Effective Computer Usage Policies

Re-published with permission from White-Collar Crime Fighter, www.wccfighter.com.The problem of departing employees stealing their ex-employers' electronically stored trade secrets has taken on near-epidemic proportions.The good news: Under the latest amendments to the federal Computer Fraud and Abuse Act (CFAA), federal courts have jurisdiction to protect any computer that is connected to the Internet against "wrongful use." And—recent court cases have further clarified the definition of employ
Practice

How to Differentiate Your Services

When potential clients are shopping around, how can your services stand out? Try these top 10 tips to increase your sales.Begin by differentiating your services or products by who you and your company are.What differentiates you? More training, more experience, better methods, a better team?
Practice Management

Resolving Personality Conflicts at Work

How do you handle conflict in the workplace? Most of us do not deal with it very effectively - if we even deal with it at all.Maintaining relationships is key to resolving conflict, so if a situation is thought to be unfixable, the best advice given by experts is to figure out a way to 'remix' the situation so the two parties look at the situation differently.Here are a few tips for consideration. Think before acting.
Practice

SEC Publishes Staff Report On Proxy Process Review

The Securities and Exchange Commission has published a report prepared by its Division of Corporation Finance concerning the Division's review of the Commission's rules and regulations regarding the nomination and election of directors. The staff report notes the need to improve the existing proxy process and recommends action in two areas: improved disclosure and improved shareholder access to the director nomination process.

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