Conversations

A&A

A Conversation with Bruce Pounder: The Impact of Convergence on U.S. GAAP

Internationally recognized convergence expert, Bruce Pounder, explains what we can expect to see in financial reporting and the financial statements of the future. To start off, can you briefly describe the phenomenon of "Convergence?"The word Convergence refers to the process of eliminating differences in accounting standards among countries. But Convergence also refers to the goal of that process - the absence of differences in accounting standards among countries. So Convergence is both a process and a goal.
Education & Careers

Interview techniques: You are what you eat!

Busy professionals often schedule potential new hire interviews during meals because it is the best time to bring people together, but also because the dinner or lunch interview presents an opportunity to evaluate how a candidate handles herself or himself in a social situation. The ability to combine social and business skills is especially important when the position requires entertaining clients or conducting business at meals away from the office.
A&A

Top five hiring mistakes small businesses make

Gevity, which serves as a full-service human resources department for small and mid-sized businesses, has released its list of the top five hiring mistakes made by small businesses when recruiting and hiring employees. Developed from Cornell University/Gevity research and surveys of small business owners, the list is a handy tip sheet for recruiting and hiring top talent. Here are the top five hiring mistakes -- and how to avoid them:Offering candidates uncompetitive compensation.

A conversation with Bruce Pounder: Accountants cannot ignore convergence

The following conversation with Bruce Pounder addresses the issue of why U.S. accountants can no longer afford to ignore convergence.These days, we often see the word "Convergence" in news articles about accounting. What exactly is Convergence?For accountants, the word "Convergence" has two related meanings. First, Convergence refers to the ongoing efforts of accounting standard-setters in the United States and around the world to eliminate differences in accounting standards among countries.

How important is it to brand and market across multiple generations?

Branding and marketing to attract multiple generations is not a new concept, but it certainly has changed since the 1960s, when there were only two generations to contend with, and the 1980s, when there were three to take into consideration when developing a creative approach to ensure the sales pitch met its mark.With the advent of the millennium, a new generation - sometimes called "Gen Y" or "Millennials" - has entered the marketing world.

A conversation with David Maister: Integrity impugned

Because of prior poor experiences – or the generally bad caricatures that exist about many professions – clients are often suspicious (at least initially) of the motives of their service providers.Just think of the many jokes about consultants who act as if they are more concerned about looking for the next follow-on assignment to cross-sell than doing the current one well; lawyers who are suspected of running up the billable hours because they are paid by the hour; and advertising agency people who are more concerned with winning prizes than selling the client’s product or service.
Practice Management

A Conversation With David Maister: What’s Our Deal?

At a recent conference, I heard a number of successful firm leaders describe how their firms had achieved significant growth and profitability. A common phrase used by each and every one of these firm leaders was “making sure that all the key people were ‘on the same page.’”Clearly, it was important that something was agreed to and shared among the members of these firms. But what? What does “being on the same page” really mean?
AccountingWEB Life

A Conversation With Barry Goldwater: Are You Recommending Long-Term Care Insurance?

Who is the largest payer of long-term care assistance? It’s the general public who fund long-term care from personal savings and through public assistance programs. But the numbers bear out that CPAs and advisors are doing a poor job of referring their clients to asset protection long-term care programs. Why is this?
A&A

A Conversation with Marcus Scholes: Poor Asset Management Risks Business Integrity

Growing risk awareness and recent natural disasters, such as Hurricane Katrina, may have prompted an increasing number of companies to invest in disaster recovery (DR) as part of the business continuity program – but how safe is that investment?Just what, indeed, is being recovered? Few organizations have any real insight into the true extent of their corporate assets. In fact, on average, upwards of 50 percent of assets on the register cannot be located.Not only does this challenge the validity of the DR solution but it also raises huge questions in the event of an insurance claim.
A&A

A Conversation with Barry Goldwater: Handling High Net Worth Clients

As CPAs get deeper into financial services and wealth management, they will have to solve more and more complex financial problems which often cut across unfamiliar planning territory. One group of clients many firms hope to close, can be both challenging and rewarding. They are high net worth individuals, those clients who fit into the $10 million-and-above club. If you are fortunate in grabbing the opportunity to inform and perform for high net worth clients, you must stop and think about what is important to this group.What drives and motivates them?
A&A

A Conversation With David Maister: The Preconditions For Strategy

Managers build their plans and strategies on the assumption that people in their firm are ready and willing to be team players, acting collectively to create or achieve something in the future.The truth, however, is that these attitudes cannot be assumed to exist. In fact, they may even be relatively scarce. In many firms - perhaps even most - these preconditions for strategy may not exist.It is hard to identify and create buy-in for what the firm should do if there is no strong sense of a mutual commitment and sense of group loyalty and cohesiveness.
A&A

A Conversation With Allan Boress: It All Boils Down To Marketing

What are the biggest problems or concerns you have with your accounting practice?

A Conversation With Barry Goldwater: Should the CPA Make the Pension Referral?

Should the CPA make the Pension Referral? There are twenty two million small business people in this country and 80 percent of them do not have pension plans. The three reasons given for this anomaly is: *The perception that it is too expensive because of employee participation *Ignorance about what kind of plan is appropriate *Have never spoken to anyone about different types of retirement plansWe must assume that business people use the services of accountants and we always assume that accountants are tax deductible specialists.

A Conversation With Allan Boress: The Ten Rules of Effective Team Selling

As a sales and marketing consultant, I strongly recommend "team selling." It is a very powerful tool when orchestrated correctly.
A&A

A Conversation With Barry Goldwater: The Root of the Problem

This is a quote I picked up from a CPA written article; “We don’t help our clients or prospects when we wait for them to come to us with problems. Often they don't seek help because every time they talk to us we are so busy.

A Conversation With Alan Olsen: CEOs Hunting For New CPAs?

The following is an opinion editorial provided by Alan L. Olsen, CPA, MBA, Managing Partner of Greenstein, Rogoff, Olsen & Co.:The relationship between a chief executive and his accountant is an extremely important one. An outside accountant can be one of your most trusted business advisors and a key to your success.

A Conversation With TaxMama: It's Finally Time to Upgrade Your QuickBooks Software

If you know me at all, you’ve probably come to realize that as far as I am concerned, if something ain’t broke, don’t fix it. So, I tend to discourage software updates, just for the sake of the update – or QuickBooks Premier 2007 simply to enrich the company selling it.If I had my way, I would still be using the original version of QuickBooks, which was a neat, compact, tidy program that let you treat your entries as if you were making them in your checkbook – with the ability to also post the entry to the account that identified the income or expense. Simple. Neat. Easy to use.
Community News

A Conversation With Allan Boress: Impact Your Revenues Right Now

Here’s an idea that has generated increases of 12 percent to 23 percent in revenues for over 50 client firms that have employed it: “It’s payback time.”Advertisement
Practice Management

A Conversation With Barry Goldwater: Growing Your Practice

To define wealth management, one has to look as far as his or her financial discipline. To an investment advisor, it may mean growing assets. To an insurance advisor, it may mean tax-efficient estate preservation and to an accountant, it may mean the best way to sell a business to minimize taxes. One definition that I personally like is taken from the book “Accountants as Wealth Managers.” The authors define wealth management as the blending of core accounting services, plus investment management, plus advanced planning insurance solutions.

A Conversation With Allan Boress: The 5 Hidden Secrets to Boost Your Sales Now

By Allan S. Boress, CPA, CFEWould you like to charge higher fees? Work with a better quality of client?

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