Firm news

A&A

Partners - A Little Disagreement Can Improve Revenues

Do you and your fellow partners agree on almost everything? If so, you could be damaging the bottom line and threatening the very existence of your mid-size CPA firm. Believe it or not, too much consensus - where owners allow the majority to rule or in those rare instances when all owners really do agree - can harm your revenues and damage your ability to interact, plan, and run the firm cooperatively and profitably. How Consensus Can HurtYou may ask, "Aren't partners supposed to agree? What about the 'united we stand' concept?
Community News

PwC May Not Sell Financial Unit

Big Five firm PricewaterhouseCoopers is believed to be backing off on previously announced plans to sell its Financial Advisory Services unit.
Community News

How Does Your Firm Compare?

In 1999, the U.S. Census Bureau published detailed information on CPA firms for the first time. Statistics indicated that a total of 53,651 CPA firm offices nationwide employed more than 389,340 people, generated total revenues of over $38.6 billion, and supported an annual payroll of over $15.1 billion. The individual reports provide detailed information for each state and metropolitan area and for many larger counties and cities. According to national statistics, the average CPA firm office possesses the following characteristics: 7.26 employees.
Community News

John Capone Leaves SEC for Andersen

The Arthur Andersen Financial Services Industry Practice has named John Capone as Partner in its North America Asset Management Practice, effective April 15, 2001. Capone is leaving his position as Chief Accountant of the Securities and Exchange Commission’s Division of Investment Management.
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

Baird Kurtz & Dobson and Olive, LLP to Merge

Baird Kurtz & Dobson and Olive, LLP, the 11th and 18th largest CPA and consulting firms in the U.S., intend to merge on June 1, 2001. The announcement was made Monday by William (Bill) E. Fingland, Jr. managing partner of Baird, Kurtz & Dobson, and John D. Harris, chief executive officer of Olive. The combined firms will adopt the new name BKD, LLP. The resulting regional powerhouse, with combined revenues exceeding $200 million on June 1, will be the largest regional professional services firm in the U.S.
Community News

KPMG Must Face the Music, SEC Style

After receiving a cease and desist order from the Securities & Exchange Commission in January, KPMG filed a motion requesting the SEC to reconsider the order. Once again, the SEC has ruled in this matter, and still, KPMG is required to cease and desist.The issue behind this ruling has to do with the circumstances under which KPMG provided services to Porta Systems, a Long Island company with which KPMG had more than an auditor/client relationship.
Community News

Grant Thornton's Executive Partner Steps Down

Edward E. Nusbaum, 45, has been named Interim Executive Partner at Grant Thornton while the firm conducts a search for a permanent replacement for Dom Esposito, who is leaving the position he held for two years.Mr.
Community News

7th Ranked CBIZ Reports Fourth Quarter Losses

Century Business Services, Inc. has announced fourth quarter and full-year financial results for the period ending 12/31/00. Revenue for the year 2000 is $567.8 million, which is a 3.9% increase over the previous year. Operating income for the same period is $26.2 million, down 63.3% from the previous year.
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

And Then There Were. . . Four?

The rumor mill is turning, and the talk is of a possible merger of the US offices of KPMG and Andersen, the firm formerly known as Arthur Andersen. The merger talk may well be nothing more than a rumor. After all, this isn't the first time there has been talk of a KPMG merger. A few years ago, the talk on the street was of a KPMG/Ernst & Young merger.An unnamed senior partner at Andersen has been quoted as saying, "Everyone has been talking about the move in the office.
Community News

Arthur Andersen Changes Name

Effective immediately, Arthur Andersen is to be known simply as Andersen. The Chicago-based firm announced the name change Monday."Andersen is the most recognized, best known name in professional services. This tremendous asset draws upon our heritage of professionalism, integrity, quality service and trust. Using Andersen as our global brand better aligns with our strategic commitment to continually enhance the breadth and depth of our capabilities.
Community News

KPMG Consulting Gets 'Dog of the Day' Rating

With the excitement about KPMG Consulting's recent IPO wearing off, market analysts are lining up with their ratings of the stock, and the Monday 6% drop to $17.88 per share caused Forbes.com to give the stock its "Dog of the Day" ranking.KPMG Consulting's February IPO is the biggest US IPO of the year so far, and the float has been considered successful to date.
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

Work/Life Balance Programs - A Success Story

In a recent interview with BusinessWeek.com, Earl Maxwell, managing partner of Maxwell Locke & Ritter, a 47-person accounting and consulting firm, explains how his firm opened its eyes and hearts to a more family friendly environment. When Mr. Maxwell ran into an employee in the halls of his office building who explained to him that her mother was taking her two small children to meet their school teachers for the first time, Mr.
Tax

Preparing an Exit Strategy for Your Business

Preparing for your retirement is part of every businessperson's long-term goal. But what if you are the owner/operator of the business? You have invested money, time, hard work into growing your business and now it is time to step down. What should you do?When the time comes, you may want your business to continue and prosper, but you don’t want the IRS to take possession of your hard-earned gains with estate taxes. Maybe your business has taken a hard fall, and you need to know your liquidation options.
Community News

Andersen Consulting Brand Heading for the Graveyard

Arthur Andersen, upon divorcing itself from the firm of Andersen Consulting, now known as Accenture, retained the right to own and use the name, Andersen Consulting. Now it has announced official plans to eliminate the name entirely.Richard Boulton, global head of Arthur Andersen's Business Consulting division, announced this week that his company "does not want to hide its consulting strength.""Our consulting division is a very different organization to Andersen Consulting. We don't want to be seen as passing ourselves off as them," Mr.
Community News

Pizza & Doughnut Contest Winner - Crisp Hughes Evans LLP

AccountingWEB is pleased to announce the winner of the "AccountingWEB 2002 Free Pizza and Doughnuts Contest." Crisp Hughes Evans LLP, located in Greenville, South Carolina is the lucky winner of free pizza and doughnuts from March 1st through April 16th. Summer Brooks submitted her firm’s name for the contest and was chosen from 98 entries. Crisp Hughes Evans has offices in North Carolina, South Carolina and Georgia.
Community News

Results Accountants' Moves to Build Global Brand That Rivals Big 5

Press ReleaseFrom Boot Camp to Multinational Powerhouse - Results Accountants' moves to build a global brand that rivals the Big 5Through an intensive effort that rivals the scope and services brought about by the Big 5 accounting and consulting firms, Results Accountants’ Systems (RAS) today unveiled a bold plan to transform its 3,000+ clients into major players in the worldwide professional services marketplace.
Community News

Accenture May Hop on IPO Bandwagon

Accenture, the firm formerly known as Andersen Consulting, is reflecting on the success of the recent KPMG Consulting IPO and considering a public offering of its own.

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