Trends

Practice

Survey Ranks Best and Worst States/Cities for Small Businesses

If you're a footloose CPA or thinking about starting your own firm, then check out Utah, Alabama, New Hampshire, Idaho, and Texas. According to a recent survey, they rank as the top five friendliest states for small businesses.
Tax

Survey Reveals Taxpayers Who Procrastinate Pay 33 Percent More than Early Filers

Taxpayers who procrastinate getting their returns prepared or who file for an extension will pay about one-third more in tax preparation fees than those who filed in January or February.
Technology

Three-Quarters of CIOs Surveyed Said Their Firms Don't Capture Customer Data

Big data is not without big obstacles for some CIOs. In a survey from Robert Half Technology, 76 percent of chief information officers (CIOs) said their companies don't presently gather customer data, such as demographics or buying habits.
A&A

Private Companies Grow; Strong Profit Margins for Accounting Firms

Private companies in the United States grew sales by approximately 9.7 percent in the period ended February 2013, about the same as in the period ended January 2013 and close to the 10.1 percent growth seen one year ago.
A&A

Internal Auditors Finding New Ways to Add Value in Expanded Role

Chief audit executives (CAEs) are working to expand their roles within their organizations, moving from their traditional focus on compliance to include suggesting ways to improve processes and providing insights that influence strategy, according to a Grant Thornton LLP survey.
Tax

Xero Survey Reveals Biggest Tax-Time Mistakes Small Business Owners Make

Tax season has a way of highlighting small business owners' financial management lapses. According to a recent survey, the two most frequently cited are (1) failing to keep financial records up to date and (2) not preparing a budget for the year ahead.
Practice

CPA Firms Need to Find New Ways to Build Revenue in Post-Recession World

The US accounting services industry, including CPA firms, is expected to remain in a slow-growth mode, with annual revenue expected to rise a pedestrian 1.3 percent this year, to $72.9 billion.
A&A

Sales Numbers Up? Now's the Time to Reduce Risk of Credit Card Fraud

According to a March 13 report from the US Department of Commerce, retail sales increased 1.1 percent in February, to $421.4 billion, marking the biggest surge in the retail space since last September. Elevated sales numbers mean additional credit card transactions and, as a result, an increased risk for fraud.
A&A

Research Finds Internal Auditors Must Reach for New Heights or Risk Losing Relevance

On March 18, PricewaterhouseCooper's (PwC) released its "2013 State of the Internal Audit Profession Study." PwC surveyed 1,100 chief audit executives and more than 630 stakeholders worldwide for the company's ninth annual survey on the role of internal auditors.
A&A

New Report Shows Changing Fraud Environment

The latest Kroll "Global Fraud Report" shows the incidence and cost of fraud have decreased over the last year, yet fraud still remains an important issue for all companies around the world. And a DOJ suit against Standard & Poor's highlights the need for oversight of the credit rating industry.
A&A

Restatements Fall Overall but Rise for Largest Companies

While the overall number of financial restatements by US public companies has decreased over the last four years, large company restatements have been on the rise, according to research conducted and published by Audit Analytics in the "2012 Financial Restatements: A Twelve Year Comparison" report.
Practice

AICPA Survey: CPAs More Upbeat on Economic Outlook, but Still Cautious

The first quarter American Institute of CPAs (AICPA) Business and Industry Economic Outlook Survey is out, and it looks like respondents are increasingly optimistic about the US economy and their own businesses' prospects compared to the fourth quarter of 2012.
Education & Careers

Accountants Pay Seen Rising an Average 3.3 Percent This Year

Accountants with solid credentials should have no employment worries, because demand and pay throughout the profession are showing strong gains this year, according to reports from the recruitment firm Robert Half International.
Tax

Is This the Year for Tax Reform?

Is 2013 shaping up to the year of tax reform? "There are more proposals this year than we have seen in the last five years, and an unprecedented number of major state tax reform proposals," said Harley Duncan, a managing director at KPMG.
A&A

Accountants' Worries Range from Fuel Costs to Value of US Dollar

A new report, “Drivers of Change in the US,” is an analysis of a 2012 survey of 550 members of the ACCA and the IMA who were asked to rank their concerns about the changes and challenges facing the accounting profession now and in the future.
Education & Careers

Finance and Accounting Professionals' Confidence Grew Fourth Quarter

According to a recent survey, finance and accounting professionals' confidence in their own job prospects rose late last year, with more than half reporting they're confident they can find a new job.
A&A

Private Company Trends Remain Positive in January

Private companies in the United States continued to grow sales and expand their net profit margins in the period ending in January 2013. Private company credit risk also appears to be improving, with the average private company's likelihood of default currently standing around 3 percent.
Practice

Florida Firm Leaving Wellness Footprint

Florida-based certified public accounting and consulting firm Markham Norton Mosteller Wright & Company kicked off the New Year and tax season on a healthy note by launching its new workplace wellness program – the Path to Wellness.
Education & Careers

CBIZ Looks to the Skies, Oceans, Mountains to Highlight CFOs

Every accountant knows the stereotype: the cautious, change-averse perfectionist more comfortable in the world of numbers than the messy world of people and experiences. CFOs suffer some of the same misperceptions.
Technology

KPMG Survey Finds Shift to Cloud Presents Unexpected Challenges, Costs

The shift of IT systems to Cloud computing from an in-house infrastructure is proving more expensive and more complicated than first anticipated, according to KPMG International's "The Cloud Takes Shape" survey.

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