Consulting

Consulting Firms Enter Price War

The days of $350 per hour consultancy fees are just another hazy memory among Chicago's consultancy professionals.A tight economy and corporate cutbacks on spending for IT consulting are resulting in a price war, the likes of which few have seen.

The 10 Biggest Mistakes a Leader Can Make

The first annual conference of the Upstream Academy, a network of CPA and IT consulting firms dedicated to continuous improvement and excellence, was held in picturesque Whitefish, Montana last week. Over 140 participants attended this first Headwaters Conference hosted by Sam Allred, President of Upstream Academy, and Alliance Partners MIP Software, Sage Software, Hudson Sawyer, and Bowman's Accounting Report.The two day session focused on leadership skills and how to improve them.

Accenture Ready to Launch IPO

Accenture, the consultancy firm that split off from Arthur Andersen, is primed for its initial public offering, scheduled for Wednesday of this week.The firm hopes to gain about $1.6 billion from investors who will purchase up to 20 percent of the consultancy giant for $13 to $15 per share.Analysts are predicting the IPO will turn into a good long-term investment, in spite of a lackluster economy and the somewhat disappointing performance of sha

AccountingWEB Weekly Resource Guide - Issue 8

AccountingWEB Weekly Resource Guide - Issue 8 July 9 - July 13, 2001 ACCOUNTINGWEB'S RESOURCES1. Workshop: The Role of the Marketing Director and What CreatesMarketing Results2. Workshop: Performance Appraisals3. Workshop: Introduction to Web-Based Auditing4. Find the Right Accounting Software for Your Client5. Training . . . Where and How to Find a Training Coordinator6. Marketing Help for Small Business7. Basic Computer Maintenance Tips8.
Community News

Deloitte Won't Split

Quashing rumors to the contrary, Big Five accounting firm Deloitte & Touche publicly announced its intention to keep the entire firm intact.
Tax

IRS Targets Consultants

The IRS has recently published a new audit techniques guide designed to help auditors in their examinations of individuals who work as consultants and businesses that hire consultants.
Community News

AA & Tax Consulting - A Promising Career Path Survey Says

The survey was developed by RHI Management Resources, from responses from 1,400 CFOs across the nation.Below is a summary of the findings of this survey:The vigorous growth of independent financial consulting as a career will continue as businesses rely on these professionals to introduce new concepts, provide expert advice, solve problems and conduct financial analysis and strategic planning.

Cap Gemini Confirms 2,700 Global Layoffs

Cap Gemini Ernst & Young LLP has said that it will cut 2,700 jobs across its global operations due to an economic downturn and overlap issues arising from the merger between Cap Gemini and Ernst & Young's consultancy practice. Worldwide employment at Cap Gemini totals approximately 60,000.Jobs will be cut in the United States, the United Kingdom, and Scandinavia, and across the firm's telecoms operations. In addition to the job cuts, another 700 employees are to be transferred as company divisions are overhauled.

Ten Tips: Help Employees Make Most of 401(k) Plan

Hewitt Associates, the global management consulting and outsourcing firm specializing in human resources solutions, offers ten tips to help employees make intelligent decisions about how to get the most from their company-sponsored 401(k) plans."For many employees, a 401(k) plan is their only source of retirement income, so it's critical that this benefit is used to its full potential," says Lori Lucas, defined contribution consultant at Hewitt.For those people who will rel
Community News

Accenture Announces Plans for IPO

Accenture, the firm that will never again be known as Andersen Consulting, has filed plans with the SEC to float an Initial Public Offering. Plans call for a float of 115 million shares on the New York Stock Exchange representing approximately 12 percent of the firm's equity. The shares are to be valued in the range of $13 to $15 each, resulting in a total of approximately $2 billion that the company will raise.
Community News

Accenture Partners Start to Scatter

Competitors of Accenture, the management consultancy firm formerly known as Andersen Consulting, are noticing a steady increase in the number of Accenture partners applying for jobs.Accenture is expected to file its prospectus for a float early this summer.
Community News

Accenture and HP Form Alliance

Hewlett-Packard Co. may have given up on last fall's negotiations to acquire the consulting practice of PricewaterhouseCoopers, but the desire to expand its consultancy services hasn't waned. On Tuesday, the firm announced an alliance with Accenture, and the combined group has plans to eat away at an IT market monopolized by IBM.

Microsoft Shopping for Big Five Firm?

Microsoft has acquired Great Plains accounting software. Microsoft is a major backer of the AICPA's soon-to-be-unveiled CPA2Biz Web site. Apparently Microsoft's penetration into the accounting profession is not over yet.At the Gartner Group's annual Windows conference in Los Angeles this week, the future strategies of Microsoft were a topic of discussion.

Accenture Files $1 Billion IPO

Not wanting to waste any time, the underwriting team of Goldman, Sachs & Co.

KPMG Consulting Cutting Jobs

In response to economic factors that are causing companies to cut back on consulting services, KPMG Consulting has announced plans to cut five percent of its workforce, or approximately 450-550 people in the United States and Canada.This is the company's second round of firings this year. Approximately 350 employees were let go in February.The firm estimates the cost of the new layoffs will be between $15 and $20 million, and this cost will be reflected in its fiscal third quarter.
Community News

Accenture Considering IPO

Although insiders at Accenture are not confirming the reports, industry insiders claim the consulting firm is seriously considering taking itself public in the near future. Reports indicate that the 71,300-employee company is moving beyond the umbrella of consulting to include venture capital, business incubation, and outsourcing services as part of its practice.The firm released revenue figures last week, which showed a rise of 10% over 1999.
Community News

PwC Says No Go to IPO . . . For Now

Despite a flurry of recent reports to the contrary, management at PricewaterhouseCoopers refuses to confirm plans for an Initial Public Offering.A spokeswoman from PwC claims the firm is giving equal consideration to three possible options for its management consulting practice: an IPO, an outright sale, or a "consortium of investors."In addition, the spokeswoman, who remained unnamed but was quoted in an article at CFO.com, stated that no decision about these possible options wo
Community News

Mutiny at PwC?

There's unrest these days among consultants at PricewaterhouseCoopers, and the timing couldn't be worse. First there was last fall's failed sale of the consultancy arm of PwC to Hewlett-Packard. Then there was the slashing of 400 of the firm's consultants earlier this year.
Community News

Minnesota Firm Claims Andersen Botched Job - $6 Billion at Stake

Department 56 Inc., a Minnesota company that makes little light-up Dickens Villages collectibles and Snowbabies figurines, has filed suit against Arthur Andersen Worldwide, claiming that the company suffered "its worst nightmare" at the hands of allegedly unqualified consultants at Arthur Andersen.In 1995, Department 56 hired Arthur Andersen, then in the midst of a corporate dispute with sister company, Andersen Consulting, to perform consulting work including the acquisition and installation of a new computer system.
A&A

Providing Financial Services - Avoiding The Ten Traps

A few years ago, one of my clients decided to get into the lucrative business of financial services. After all, financial services companies have been competing with CPAs in the accounting and tax business for years. Partners selected one owner to become the financial services “guru” for the firm.

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