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    1. How real work experience can help students, businesses   WebExclusive

    BY Ken Tysiac
    Getting work experience while in college can give accounting and finance students an edge in their post-graduation job search, according to a new survey.Meanwhile, businesses that provide work opportunities for students can build a network of promising talent that will pay big dividends in the future, experts say.

    2. Honing your hiring  

    BY Doug Blizzard
    It takes some detective work to hire the right new employee. Management needs to piece together clues about the applicant’s personality and work history. It takes time to determine whether a candidate has the character and credentials to fit the company’s needs. Here are a few steps to help you land the right candidates.

    3. How to land an overseas assignment  

    BY Sabine Vollmer
    Securing an overseas assignment may look like a daunting challenge to a U.S. CPA who isn’t working for a Big Four accounting firm with offices worldwide, but it can be done.The JofA sought tips from three experts on how U.S. CPAs can gain international experience. Senior editor Sabine Vollmer talked to Paul McDonald; Pamela Parker-White, CPA, CGMA; and Jason Ramey, CPA.The PanelistsPaul McDonald is senior executive director at Robert Half, a staffing firm that specializes in placing accountants and finance professionals worldwide.Pamela Parker-White, division controller and business manager for Babcock & Wilcox’s small modular reactor program with

    4. Seven steps to closing a succession sale  

    BY Joel Sinkin and Terrence Putney, CPA
    Key to a successful merger or acquisition is keeping the process moving. For firm leaders, there is rarely any item of greater importance than a merger they are pursuing. The adage “time kills all deals” is absolutely true with mergers, and this is why:- Adversarial positions: Naturally, both parties to the deal are looking for the best possible terms.

    5. How to value a CPA firm for sale  

    BY Joel Sinkin and Terrence Putney, CPA
    One of the key components of a CPA succession plan is the sale or transfer of the retiring CPA’s ownership interest. How is the value of that interest determined? In most circumstances, the value of an owner’s interest is different when selling to an external buyer than it is in an internal transaction.EXTERNAL SALESThe most common question about accounting firm sales the authors are asked when teaching CPE courses is “What is the multiple (of billings)?” The multiple is determined by four main factors:1.

    6. Six trends that are reshaping business   WebExclusive

    BY Ken Tysiac
    Accountants excel at analyzing numbers and developing strategies based off them.The way University of North Carolina at Chapel Hill professor James Johnson, Ph.D., sees it, the numbers describing the demographics of the United States leave accountants little choice today but to embrace diversity and new business practices. Johnson spoke Sunday at the AICPA governing Council’s fall meeting.“Our communities are going to change dramatically,” Johnson, director of the Urban Investment Strategies Center at UNC, said in an interview the week before the presentation.

    7. Commission to survey accounting profession’s diversity climate   WebExclusive

    BY Ken Tysiac
    An AICPA-led body plans to gather perspectives on the profession’s views on diversity and inclusion through a survey and provide a new best practices resource for firms that are developing diversity initiatives.The recently formed AICPA National Commission on Diversity & Inclusion is charged with developing methods to help the profession recruit, retain, and promote a diverse workforce.Ken Bouyer, chair of the commission, gave an update on its progress Sunday at the AICPA governing Council’s fall meeting.The National Commission on Diversity & Inclusion will partner with several accounting organizations and state CPA societies to survey their respective memberships

    8. Write it down: The importance of documenting oral advice  

    BY Joseph Wolfe and Sarah Beckett Ference, CPA
    CPAs routinely provide oral advice to clients. While professional standards generally do not require such advice to be documented, the experience of the AICPA Professional Liability Insurance Program demonstrates that undocumented advice weakens the defense to a professional liability claim. This real-life scenario provides an example: A CPA providing bank account reconciliation services for a law firm learned of the client’s weak controls over accounts payable—a situation that could result in vendor fraud or payments to fictitious vendors.

    9. How to network and find new clients across borders  

    BY Sabine Vollmer
    Companies increasingly are investing across borders. That includes foreign companies establishing operations in the United States or Canada. The North American investments require accounting and tax services, making foreign companies potential new clients for North American accounting firms.But what is the best way to network across borders and attract these potential clients? Can social media help limit international travel, keep business development costs down, and save time? The JofA sought answers to these questions from three experts: Douglas Ng, CA, a partner who specializes in international business development for Canadian accounting firm MNP LLP; Hideo Takada, CPA,

    10. A two-stage solution to succession procrastination  

    BY Joel Sinkin and Terrence Putney, CPA
    The 2012 PCPS Succession Survey, a joint project of the AICPA Private Companies Practice Section (PCPS) and Succession Institute LLC, found nearly 80% of CPA firm owners expect succession to become a major issue for their firms in the next 10 years (see “Succession Planning: The Challenge of What’s Next,” JofA, Jan.
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