To climb the ladder in most finance organizations, CPAs hone their skills in making accounting judgments, closing the books, accurately preparing financial statements and other reports and filing them on time. But current CFOs agree that to reach the top—the CFO position—another skill set is required. Unfortunately, these additional skills
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Professional development
Inaugural Leadership Academy Helps Participants Hone Skills for the Future
The first AICPA Leadership Academy gathered in Chicago for three days in July to focus on the future of the accounting profession. Led by Institute Chairman Ernie Almonte, the group consisted of CPAs under age 35 who engaged in intensive workshop training sessions to develop and hone leadership skills and
Learning From Your Mistakes
Here are some tips for making the most of those times when you’re not at your best: Own up. Don’t cover up a mistake. Admit it to those who need to know and move on. React and repair together. Once the mistake has been identified, brainstorm with your team on
Are You an Active Networker?
In today’s economy, it is more prudent than ever to reconnect if you have not been an active networker. You never know when you may need your contacts, and it is better to offer them assistance now before you need help yourself. Here are some ideas for jump-starting your network’s
Layoff Survivors’ Relief Turning to Stress
At first, workers who survive layoffs may feel grateful and relieved to still have their jobs. But, as workloads and anxiety over job security increase, those feelings can quickly turn to stress and burnout. According to a nationwide survey of 4,400 workers by CareerBuilder.com, 30% of layoff survivors feel burned
In a Noncompete Bind?
If you find yourself out of a job in this downturn, keep in mind that restrictive covenants may limit your next move. If you are a party to such an agreement, you could face a costly lawsuit if you go to work for a competing company or firm or start
AICPA 2009 Trends Report Shows High Level of Accounting Degrees, Enrollment
The number of accounting graduates reached a record level during the 2007-08 academic year, according to the AICPA’s 2009 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits. More than 66,000 combined bachelor’s and master’s degrees were awarded, a 3.5% increase from 2006-07, and the
Pursuing a Ph.D. in Accounting: Walking in With Your Eyes Open
After teaching mathematics for a number of years, I was contemplating a change in careers. After researching possible career choices, I took an accounting night class at a local university. I enjoyed the logic and structure of the class and quickly decided this was my niche. Next, I set my
Online CPE Grading Gets an Upgrade
The Institute has improved its Online Grading Web site for CPE self-study courses. The enhancements include a new design, improved navigation, new features to the exams and a simplified login process. AICPA CPE Online Grading is free and available for any AICPA self-study course in formats that include text, DVD
Take Stock and Take Action
To assess your commitment to creating value in your career, order the six statements below from the one that best describes you to the one that least describes you. I do my part. I am patient in waiting for opportunities to advance my career. I am not ready to move
Results, Results, Results
Efforts are wonderful, but results create value. Results come from a strong focus and uncommon persistence. For many CPAs, focus begins with good time management. Every practitioner gets 24 hours a day—1,440 precious minutes—that never seems to be enough. To manage your time is to manage your life, so learn
The Virtues and Challenges of a Long Break
Some people do solo retreats for personal development. Others provide volunteer services. One CPA firm partner took his two adopted children back to their homelands—Korea and Vietnam—where his 21-year-old son was reunited with his birth mother, brother and sister after 14 years, and discovered he had six nieces and nephews.
Right Track Your CPA Career
Careers aimed toward excellence start with the recognition that every CPA is truly running his or her own personal firm. Whether they are in public accounting, government or private industry, everyone must make investments into their company to be successful. These investments provide extraordinary returns for the individual CPA as
Be a Star CPE Instructor
EXECUTIVE SUMMARY The CPA profession’s continuing professional education regimen requires a supply of class presenters, or discussion leaders, who in turn receive honoraria, CPE credit and the satisfaction of imparting valuable skills and knowledge. CPAs considering becoming discussion leaders can take several exploratory steps, including facilitating
Smart Stops on the Web
CONTINUING EDUCATION THE CPA TOOLBOX www.cpemarket.com This Smart Stop is part of the National Association of State Boards of Accountancy’s www.nasbatools.com, which offers “tools for accountancy compliance.” CPAs can search CPE course providers, the National Registry of CPE Sponsor courses and quality assurance service courses, plus
Make Your Resume Pop
It’s no secret that human resource managers use electronic scanners and keyword searches of resumes to rank potential candidates. According to CareerBuilder.com, the terms employers search for most often are: Problem-solving and decisionmaking skills (50%) Oral and written communication 44%) Customer service or retention (34%) Performance and productivity improvement (32%)
Succession Plans Simmer on the Back Burner
According to the AICPA’s 2008 PCPS Succession Survey, almost 70% of multi-owner firms and more than 50% of sole proprietors (sole owner firms and sole practitioners) believe succession planning will be a significant issue for them in the near future. But only 35% of multi-owner
Make the Most of Mentoring
EXECUTIVE SUMMARY The definition of mentoring is expanding to include the concept of coaching, which is focused on helping others learn job-related skills for growth. In today’s rapidly changing work environment, young accountants appear to learn more quickly and thoroughly through on-the-job training. Firms with strong cultures that facilitate continual
Mentoring Part of Recruiting and Retaining, Too
“Recruiting (and Retaining) the Next Generation Accountant” (April 08, page 60) intrigued me. The authors, Kent State faculty members, clearly understand the challenges involved in recruiting the next generation of accountants. They also discuss many ways in which academia and the profession can work together while young people are earning
Successor Readies to Take the Lead
Thirty years ago, Krista McMasters applied for a job at Clifton Gunderson’s office in Danville, Ill. She was fresh out of the University of Illinois undergraduate accounting program. Despite good grades, she heard nothing back. McMasters had job offers from other firms, but she persisted with Clifton Gunderson
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