Practice news

Community News

Ways to Develop an Incentive Program

By Gregory P. Smith Disney World has more than 240 reward and incentive programs in place. All good businesses have at least one or two. Incentive programs serve a specific purpose. Some programs show appreciation to employees. Other programs are designed to improve performance and create behaviors management would like to see. No matter what type of program you have or want, designing the program is critical to its success.Focus on the desired behavior needed or the goal of the program. Begin with a clear, briefly-stated objective.
Practice

Are You Teaching Your Employees to Steal? (Part 2)

Continued from "Are You Teaching Your Employees to Steal? Part 1"FRAUD AND ABUSE ARE COSTLYFraud and abuse cost the U.S. economy $400 billion a year. That translates into 6% of revenue or $9 per day, per employee. And relatively speaking, small companies are at a higher risk of fraud than large companies. Why? Because small companies don’t have as sophisticated systems of internal controls as large companies.
Practice Management

FASB Chairman is Bullish on Fair Value

If U.S. accounting practices swing to fair value, it will be in large part due to the efforts of Robert Herz, chairman of the Financial Accounting Standards Board (FASB), according to an article in the February issue of CFO magazine.
Practice Management

IRS Increases Criminal Investigations of Tax Return Preparers

The Internal Revenue Service more than doubled the number of criminal investigations of preparers of federal tax returns in 2002 compared to the previous fiscal year, according to figures released by IRS Criminal Investigation.In Fiscal Year 2002, 254 investigations were initiated, compared to 116 the year before. More cases were referred to the Department of Justice for prosecution – 89 in FY 2002, up from 73 the year before.
Practice Management

Building a Referral Machine For Your Company

by Andrew WoodReferrals are the life-blood of any successful business or service, but they work much more predictably and effectively when you develop and follow a system so that good leads don't just slip away.Ask any good business owner how she generates most of her business and she will cite referrals, but ask her to explain her referral system to you and you are very likely to hear that referrals just happen.
Practice Management

Former Andersen Ethics Consultant Pens Exposé

Arthur Andersen's conviction on obstruction of justice charges related to the Enron debacle spelled the abrupt end of the 88-year-old accounting firm. Until recently, the venerable firm had been regarded as the accounting profession's conscience.
Practice Management

Hidden Overhead - Hidden Expenses Cost Money

By, Keith Rosen Although you have a handle on your business' operating costs, there may be some hidden expenses that are costing you more than money. Many execs confess that although their business is moving forward, they find their time is consumed with, accepting or being dragged down by unwanted situations, problems or behavior. Not overwhelming individually, they have a way of building up until they effect productivity, cause stress and waste time and energy.
Practice Management

Are You Teaching Your Employees to Steal? (Part 1)

 My Employees Wouldn’t Embezzle: Yeah, Right Yes or No - Have you taught your employees to embezzle?  
Practice

Keeping Your Clients Out of The Competitive Pool

By Bruce Marcus, author of The Marcus LetterThe conventional wisdom is that it costs more to get a new client than to keep an old one. And for once, the conventional wisdom is correct. Yet, many professionals too readily take clients for granted. Or don't look for opportunities to increase revenues from perfectly satisfied clients. Then there's the classic story of the client who went to another firm for a particular service.
Practice

Busy Season Stress Busters…Part One

Here are some ideas to help ease the stress of tax season from the members of AccountingWEB.com. Have a Friday Dessert Contest - Have spouses children bake desserts for the staff such as cookies, brownies and other finger foods each week and give a bouquet of flowers each week to the contest winner.  
Practice

Document Processes to Ensure Business Success

Guest Author: Michael Platt, AccountingWEB, Inc. Think about this for a moment: If you were hit by the proverbial bus tomorrow, would someone else be able to step in and do your job without missing a beat, or would there be a significant learning curve to carry out your tasks?
Practice Management

Business Leaders Begin Preparing For War

February 14, 2003 is a pivotal day in the timeline of world economic stability. As war becomes seemingly inevitable, and the risk of terror attacks increase, business leaders around the country are addressing what they need to do to be prepared.
Practice Management

AccountingWEB Interviews: David Maister, Practice Management Consultant

As part of a series of interviews with prominent members of the profession, AccountingWEB sits down with David Maister, acclaimed professional services firm expert and author, to get his perspective on what's happening in the profession. AccountingWEB (AW): Over the years you have offered many of the best suggestions for professional services firms to be more successful.
Practice Management

Five Ways to Coordinate Your Staff's Time Off Using MS Office

Coordinating your staff's busy schedules can be a challenge, especially when the people you manage have different meeting schedules, vacation plans, and requirements for time away.
Practice Management

Seattle-Based Moss Adams Authors Practice Management Guide For Fidelity Advisors

Fidelity Investments Institutional Brokerage Group (Fidelity) has introduced a comprehensive practice management guidebook written exclusively for independent investment advisors and registered representatives."Independent Thinking On Practice Management" was developed for Fidelity by Seattle-based Moss Adams LLP. It provides detailed analyses of the critical elements associated with managing the business side of an investment advisory practice, ranging from financial management to technology to client service.
Practice Management

Do Your Partner Retreats Advance Your Firm?

By, Bruce W. Marcus The Marcus LetterRetreat season is just around the corner. Lawyers, accountants and consultants will assemble, tie-less, at fine resorts throughout the nation, to explore the futures of their firms and what can be done to sustain the present or alter the future. Good food, great weather, good golf and good sightseeing for the wives, with a couple of hours of serious business built in. Recharging the batteries, and maybe, the minds.
Practice

Cross Selling Helps Your Clients

By, Melinda Guillemette, Marketing ConsultantCross-selling is proposing to a current client the use of another of your firm’s services. Perhaps a tax client needs a financial plan or estate plan; perhaps an audit client’s employees need training on their accounting software; maybe a management consulting client needs to update his technology. Each of these cross-selling scenarios could result in solving thorny problems for your client. No partner enjoys hearing a client say “I didn’t know your firm did that!” after the client has purchased a service from someone else.
A&A

Business Travelers Face New Airport Rules

Executives need to plan ahead if they want to use airport clubs and comply with a recent federal directive. The Transportation Security Administration (TSA) has mandated that airlines restrict use of airport clubs, a measure intended to limit access to secure areas of the airport.For many years, business travelers have relied on airport clubs as convenient places to relax between flights or meet with clients. Quite often, executives have used the clubs for impromptu meetings or conferences. But the new TSA directive ends spur-of-the-moment get-togethers.
Community News

Achieving Your Goals Takes More Than Good Intentions

By, Keith RosenThroughout my career as a business owner, a sales trainer and a business coach, I've noticed a consistent theme in relation to achieving greater levels of success. That is, the professionals who are extremely productive have taken the time to define their goals and a roadmap to attain what they want most. While some enjoy the excitement of strategizing for the New Year, others find themselves intimidated by the goal setting process.
Practice Management

IRS Provides Inventory Valuation Method For Auto Remanufacturing

The Internal Revenue Service today issued guidance that provides an inventory valuation method for rebuildable motor vehicle cores. In the remanufacturing industry, worn or used parts (cores) are rebuilt when received from customers and other sources.The guidance was released as part of the Industry Issue Resolution (IIR) program. The IIR program, launched by the IRS in 2001, tackles issues submitted by taxpayers, associations and other groups representing businesses.

Pages


Already a member? log in here.