May 1997 - Journal of Accountancy

EXECUTIVE SUMMARY KEEPING CURRENT WITH OFFICE technology doesn’t have to be overly expensive. With the proper planning, it can be both economical and a productivity booster. Here are some of the steps you must take to accomplish that goal: Don’t base your computer-buying decisions solely on price. Plan ahead so

EXECUTIVE SUMMARY THE POWER OF SPREADSHEET software continues to grow, revolutionizing the way accountants and others do business. Yet many accountants fail to make full use of the software’s enormous power. NTIL RECENTLY, LEARNING advanced features of spreadsheet software was difficult, mostly because the paths to them generally were buried

EXECUTIVE SUMMARY FAMILY-OWNED BUSINESSES ARE threatened by special challenges, including compensation, control and succession, many of which are related to difficulties managing the complex boundaries between the family and the business. As close professional advisers, CPAs are positioned to help family businesses overcome the dangers they face. TO WORK AS

EXECUTIVE SUMMARY ONE CPA’s WEALTH MANAGEMENT and investment consulting firm had $170 million under management at the end of its first 15 months in business. The firm manages the personal investment portfolios of clients who typically have a net worth in excess of $7 million. THE FIRM’S SERVICES include development

EXECUTIVE SUMMARY STATE BOARDS OF ACCOUNTANCY are responsible for investigating complaints from the public regarding CPA performance and behavior. STATE BOARDS CAN REQUIRE practitioners to take specific CPE courses to correct an apparent deficiency, to cease and desist certain behaviors and to submit to some form of practice monitoring. They

EXECUTIVE SUMMARY THE SMALL PUBLICLY TRADED corporate audit market offers a substantial marketing opportunity for smaller accounting firms. A SURVEY SHOWS SUCH COMPANIES appear to be generally satisfied with their small firm auditors but don’t know about or take full advantage of all the services their firms offer. THERE ARE

EXECUTIVE SUMMARY AS LIAISON BETWEEN a major utility’s financial operations and those at its subsidiaries, CPA Sean D. Windsor concentrates on ensuring that accounting policies are consistent, reviewing the subsidiaries’ operations to identify problems and keeping the far-flung companies abreast of new developments in accounting literature or applications. Special projects

EXECUTIVE SUMMARY WITH GROWTH IN CORE accounting services flat, small CPA firms should turn to consulting to grow their practices. BIG 6 FIRMS ARE GETTING nearly half their revenues from consulting, and the same opportunities are there for small firms and their small business clients. TECHNOLOGY IS THE KEY to

EXECUTIVE SUMMARY CPAs CAN HELP BUSINESS CLIENTS FILE insurance claims after their business premises are damaged by fire, flood or other disaster. Claims usually are made intwo areas, property damage and loss of income. IF RECORDS ARE LOST, CPAs CAN USE tax returns to help reconstruct the list of lost