Practice Management

Practice Management

Planning engagements with going concern issues

By Larry L. Perry, CPAHere are some practical questions accountants and auditors may wish to incorporate in the planning documentation of every audit and review engagement for the foreseeable future.Does the accountant's or auditor's understanding of the client's business and industry reveal any information contrary to the going-concern assumption?
Practice Management

The MacGyver approach to starting a financial business

By Steve AdamsBack in the 1980s, a popular television show named MacGyver gave rise to a whole new term.
Practice

Tips for getting the most from mobile devices

Accounting firms with a growing mobile work force may be struggling to understand how best to manage the complexity of employees working from disparate locations – how to give workers the IT support they need, while getting the most from the technology for the good for the firm.It's a big question, and one that is growing in importance.
Technology

30 questions every CFO should ask about software implementation costs

CAL Business Solutions announces the release of a new white paper aimed at educating accounting software buyers on ways to save money and avoid hidden costs when buying new ERP/accounting software. Companies will find sixteen buying tips and thirty cost-saving questions to ask a valued added reseller (VAR) in the free white paper, 30 Questions Every CFO Must Ask About The Cost of Accounting Software.
Practice Management

Tools of the Trade: Plumbers have wrenches, Artists have paintbrushes, CPAs have titanium putters

Tax season is over and the golf course and warm weather are calling your name. But in this economy, can you really afford to take time off work? Business advisors have said that clients are out there, you will just have to work harder to get them. Doesn't that mean you should be beating the bushes instead of playing golf? Whatever you do, don't let Debbie Waitkus hear you say that.
Technology

Is a paperless office right for you?

Before jumping on the paperless bandwagon, you might want to think through the process and determine if this change is the change you need. Our sister site, BusinessZone, took a look at the benefits and costs of implementing a paperless office.The concept of the paperless office is great in theory, but perfection is difficult to achieve. Anticipated high initial costs and complicated operational and process changes might make going paperless seem unattainable and are probably enough to put most firms off.
Practice Management

Don’t be caught without workflow in your paperless system

Currently some workflow and document management systems are designed to function independently of one another, making it necessary to run several different applications to perform two tasks that go hand-in-hand. Is it possible for workflow and document management to coexist? Here are some details to consider when combining a workflow and document management system. Document management has many known benefits relating to reducing overhead, but is going paperless enough in an effort to save costs for the small office? Having access to electronic documents is not the only way to save money.
Practice Management

Deloitte study reveals tension regarding the use of social media in the workplace

According to the third annual Deloitte LLP Ethics & Workplace survey, 60 percent of business executives believe they have a right to know how employees portray themselves and their organizations in online social networks. However, employees disagree, as more than half (53 percent) say their social networking pages are not an employer's concern.
Practice Management

Involve the younger generations in succession planning

Most people think that succession planning is a top down activity involving management and seasoned professionals. I suggest it is better to involve the younger generations as well so that they can help create a vision for what the organization aspires to and what it is really looking for in long-term leadership.
Practice Management

Don't let trade secrets leave with employees

Desperate times can sometimes result in desperate measures. During an economic downturn, the pressure to generate revenue can be great. Economic espionage can result when employees are forced to come up with the next big idea or they have financial difficulties. Economic espionage is defined as the theft or misappropriation of trade secrets.
Practice Management

52 Random insights to grow your business

1. Be careful of being too anxious to prove your value.2. Be willing to walk away from every sale.3. Be worth the price of admission.4. Become like the companies and people you admire.5. Brand your honesty.6. Build an asset so attractive that buyers will come looking for it.7. Build things worth noticing.8. Clearly define what you are a steward of.9. Create a product people can easily become obsessed with.10. Develop a system for dealing with customer complaints.11. Discover whether or not this is your own thinking.
Practice Management

Client relationships: A growing generation gap?

By Phyllis Weiss HaserotThis is part of 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 Management

Checklist for international telecommuting

A preeminent professor of international employment law, Belgium's Roger Blanpain, recently said that, "We live in an information society, driven by knowledge in action.... [Services] can be provided via the information highways from anywhere, even from the other side of the globe.... We are in a New World.
Practice

Mutual mentoring across the generations

By Phyllis Weiss HaserotThis is the seventh 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 Management

Book review: Most fascinating book of 2008: Bad Medicine

By Ron BakerBy far the most interesting book I read this year is Bad Medicine: Doctors Doing Harm Since Hippocrates, by David Wootton.Wootton is a historian at the University of York. He's no medical profession basher, thanking modern medicine for saving his life and also admitting his daughter is a doctor.
Practice Management

President's budget calls for "significant" tax increases, makes stimulus cuts permanent

The President's budget plan which he sent to Congress on February 26 gives "a pretty good feel for where the Obama administration will try to go in terms of tax policy," said Clint Stretch, managing principal of tax policy at Deloitte Tax in Washington DC, speaking to the media on a conference call Thursday. The proposed budget calls for a "significant" tax increase on businesses, and higher taxes for individuals earning more that $250,000.
Practice Management

Video review: Best Practices for Running Your Accounting Practice

Steve McIntyre-Smith, the president and CEO of MFA Group, a consultancy that helps CPA firms grow their practices, has produced a video presentation designed to help accountants run an accounting practice successfully and productively. "Best practices for Running Your Accounting Practice" delves into more than a dozen areas in which accountants can improve their business and make their firm more valuable as they consider plans for eventual succession.The video is a taped broadcast of McIntyre-Smith making a live presentation to an audience of about 100 accountants.
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.
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.

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