Guest articles

Practice Management

Achieve economic sustainability from a workforce in transition

By Phyllis Weiss HaserotThis is the sixth in a series of regular columns by generational expert and internationally known consultant, coach, writer, and speaker Phyllis Weiss Haserot on intergenerational relations and navigating the challenges of the multi-generational workplace for better productivity, retention, succession planning, and business development results.
Practice

How dramatically will Gen Y change the workplace?

By Phyllis Weiss HaserotThis is the fifth in a series of regular columns by generational expert and internationally known consultant, coach, writer, and speaker Phyllis Weiss Haserot on intergenerational relations and navigating the challenges of the multi-generational workplace for better productivity, retention, succession planning, and business development results.
Community News

Life in the Big Four, Part VI: Rental Cars

When I first started my job, incredible happiness engulfed me each time I stepped off a plane. The traditional age for a legal car rental is 25. I, with my amazing corporate perks/corporate account was able to rent at 21. To this day, I'm pretty certain that the age limit does not prevent stupid behavior.Let me flashback to the First Client story. Senior Matt (yes, he finally made it) and I were headed back to the airport. Senior Matt pulled off to "get some gas." Strangely, he headed not for the gas station, but the gravel lot next to the gas station.
Practice Management

Operating and growing in a down economy

By Michelle Golden, President, Golden Marketing Inc.So far, CPA firms seem to be feeling limited impact from the economic downturn. Some firms are seeing a bump in "average days in A/R" as business clientele slow their payments due, in turn, to their dipping receipts. Other firms report the heartbreaking scenario of trying to assist vulnerable clients take measures to remain solvent—scaling back, if not ceasing, operations.
Tax

Auditors and airport screeners have similar blind spots

But terrorists don't pay the screenersBy Gary D. Zeune, CPAEven though the items and information are right in front of them, airport screeners miss banned items, according to a December 30, 2005, article in The Wall Street Journal. Auditors miss fraud for the same reasons screeners miss weapons. To test terrorism readiness, British authorities digitally inserted images of guns, knives and other banned objects into luggage. Initially the screeners' performance was mediocre. But with practice it improved dramatically.

Are clean opinions materially misstated?

WARNING: Reading this article will be painful By Gary Zeune, CPA

Guest article: The United States will be just fine

By Brian Hamilton, CEO, Sageworks, Inc.There is probably something in humans and in every generation that makes us think that the problems we face are uniquely difficult. Much has been written about the economy and, if you accept certain assumptions from what you read, you might think that we are in the midst of a global depression. Yet, it is important to put the current economy in perspective.
Community News

Life in the Big Four, Part V: Hotel Love

Quick! You are feeling romantic, and your significant other is nowhere to be found!!!!! What do you do?!?!If your first thought is the following: "Walk out of the hotel room, take the elevator down to the lobby, slip $10 to the hotel clerk for an adult movie, and go back to your room,".........................congratulations, you are an auditor.This is not a normal reaction, unless you are out of town at least 40 weeks per year. To be honest, I'm not sure that it is a normal reaction even then, but I don't plan on traveling down that road.

The power of one: Try something different this year

by Michelle LaBrosse, PMP, Chief Cheetah and Founder, Cheetah LearningHow about trying something different this year? Instead of a long list of resolutions that get tucked away in a filing cabinet or eaten by the dog, how about focusing on just one? The one resolution that can make the biggest difference in your life and have the most impact.

What's your professional firm's marketing strategy for cultivating referrals?

by Barbara Bix and Melissa Josephson Edwards Chances are your accounting firm gets a lot of its business from referrals:A current or previous client recommends your services.Colleagues in a complementary field recognize a need that you can address for their clients.A marketing consultant calls you because one of her clients heard you speak at a conference or read an article you wrote.
Practice Management

How to avoid those pesky Gen Y stereotypes

By Phyllis Weiss HaserotThis is the fourth of a new series of regular columns by generational expert and internationally known consultant, coach, writer, and speaker Phyllis Weiss Haserot on intergenerational relations and navigating the challenges of the multi-generational workplace for better productivity, retention, succession planning, and business development results.
Community News

Life in the Big Four, Part III: First Client

I returned from training late on a Friday night, and was scheduled to fly out to my first client on Sunday night (I hadn't seen the office yet). A senior (call him Matt) and I were headed out to a chemical plant to do Sarbanes-Oxley controls testing. Matt had arranged all of the details. Because of the newness of this stuff, neither he nor anyone at the company had any idea exactly what to do.We were going to be flying out to the plant. This had initially surprised me, because I was under the impression that most chemical plants should be located away from major cities.
Practice Management

Ensuring efficient, effective growth

By Gail Crosley, CPA The days of building business by doing good work and chatting over lunch, ending with a firm handshake, are the historical legacy of our profession. But what about the future? Don't get me wrong – CPAs like a good meal as much as ever. But these days, lasting growth is a systematic process based on proven methodologies and metrics. Public accounting has long relied on creating books of business to ensure efficient, predictable success. But things have gotten more complex, as they have throughout corporate America.
Community News

Life in the Big Four, Part I: Recruiting

It is said that "truth is stranger than fiction." While I'm not entirely convinced of that, I can testify that the truth can be pretty damned strange. My goal in this series will be to give the reader an uncensored look at entry-level life in a Big 4 firm. It won't contain any deep insights into "office life," mostly because I rarely spent any time in the office. I couldn't even tell you the color of the carpet. In order to be completely honest with the facts,, (and because I value receiving a paycheck), I am going to remain anonymous.
AccountingWEB Life

Year-end tax planning for your business owner clients

By John H. Brown and Randy S. Williams, Business Enterprise InstituteCurrent tax rates are likely the lowest we will see in our lifetimes. At some point, burgeoning budget deficits, ballooning costs of social programs and war expenses must be paid. As year-end tax planning time for your business owner clients approaches, this article will discuss some planning initiatives you need to remind them to consider. They are not the usual IRA or compensation tips, but rather ones that can materially affect their net worth over time.
Practice Management

Tips for Generation Y/Millennials' managers and mentors

By Phyllis Weiss HaserotThis is the third of a new series of regular columns by generational expert and internationally known consultant, coach, writer, and speaker Phyllis Weiss Haserot on intergenerational relations and navigating the challenges of the multi-generational workplace for better productivity, retention, succession planning, and business development results.
A&A

The many hats of a plant controller

By J. Stephen McNally, CPA What is the role of a plant controller? The answer may seem straightforward enough: the plant controller is responsible for personally coordinating the completion of all plant accounting and financial reporting activities related to his or her location. More specifically, the plant controller is responsible for cost accounting, financial closing and reporting, internal control and Sarbanes-Oxley compliance, tax, fixed asset accounting, inventory management, and related activities. But does the plant controller's role stop there? No.
A&A

Do you have the right number of employees?

By Bruce L. Katcher, Ph.D.Part 1 - THE PROBLEM:Organizations continue to downsize, yet our research shows that 6 out of 10 employees say there are not enough qualified employees to do the work in their department. Are they right, or are they lobbying to prevent layoffs? Here are some reasons why they may, indeed, be right:
Practice

From Boomers to Gen X and Y: How and what to communicate

By Phyllis Weiss HaserotThis is the start of a new series of regular columns by generational expert and internationally known consultant, coach, writer, and speaker Phyllis Weiss Haserot on intergenerational relations and navigating the challenges of the multi-generational workplace for better productivity, retention, succession planning, and business development results. Communication is a key sticking point, so we start with very specific tips to increase rapport and understanding.

IFRS - No promulgation without representation please

By Darla Sycamore The Merriam-Webster dictionary defines promulgation as1: to make (as a doctrine) known by open declaration: or2 a: to make known or public the terms of (a proposed law) b: to put (a law) into action or forceThe FASB refers to the promulgation of accounting standards in its Mission Statement (sometimes the process of issuing accounting standards is also referred to as pronouncing).

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