Mentoring relationships are critical for success in the accounting profession, yet many CPAs overlook the benefits of a mentor/protégé connection. A mentor can provide guidance on tackling challenging assignments or insights into managing time commitments. In addition, mentors can recommend protégés for important and highly visible projects, sponsor protégés in
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Firm practice management
Retreat to Move Forward
With the slow economy still making times—and dollars—tight, it might seem counterintuitive for a CPA firm to take its staff to the beach for an annual retreat. But handled correctly, such off-site activities can be effective investments of time and money. Here are some ideas for making the most of
Traps for the Unwary in CPA Firm Mergers and Acquisitions
You can’t hold back the demographic tide. In the U.S., another baby boomer turns 60 every eight seconds. This translates into a leadership change in the near future at many CPA firms. Thousands of partners are at or reaching retirement age now and in the next five years, putting a
NASBA and AICPA Announce Launch of CPAmobility.org
The National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA) announced the launch of CPAmobility.org – an online tool designed to help Certified Public Accountants navigate the new practice privilege requirements that allow CPAs to more easily practice across state borders. A
PwC Investing $100M in Africa
PricewaterhouseCoopers International is rolling out a growth strategy for Africa that includes investing $100 million in people and infrastructure. The Big Four firm said it plans to hire an additional 8,000 partners and staff over the next five years as it builds an integrated advisory business for the continent. In
Polish What’s Dull, and Wax What Shines
For managers, the one activity more dreaded than receiving a performance review is writing one. So it’s no wonder many reviews fall short of their real intention: to provide a springboard for further growth and accomplishment. How can the performance review guide a productive discussion about an employee’s potential or
Revitalize Your Firm’s Marketing Strategy
If you think there is room for improvement in your accounting firm’s marketing and sales effort, you’re in good company. A recent study by Broderick & Co., consisting of in-depth interviews with leaders representing 130 well-known professional services firms in accounting, law, executive search, management consulting, architecture, financial services and
GAPP Targets Privacy Risks
As of early 2011, 46 states had enacted some form of privacy regulation. In particular, those enacted by Massachusetts and Nevada in 2010 significantly raised the bar in terms of business requirements. Even organizations that have no facilities or personnel in Massachusetts may be subject to the state’s regulations if
Seeking New Clients Rises to Top of CPA Firm Issues
Bringing in new clients has moved to the forefront of concerns among CPA firms with two to 20 professionals. That finding is among the highlights of the AICPA’s 2011 PCPS CPA Top Issues Survey, released Tuesday. The survey also found that while client retention remains a key priority for CPA
Accounting Enrollment, Hiring Increase
CPAs looking to hire talented young accounting grads as well as students preparing to graduate need to know what their competition looks like. The AICPA’s 2011 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits, which was released in May, identifies key trends in accounting
Business Development Skill Builders for Young CPAs
Many firm leaders think that young CPAs lack the necessary business development skills to move to the next level or become a future leader of the firm. However, young CPAs are often not given the opportunity to develop those skills on a daily basis. Business development is a difficult thing
Business Insurance: What to Do Before You Renew
Conditions in the insurance market present CPAs a great opportunity to enhance their business insurance coverage as well as to educate their small business clients on key policy renewal strategies. Here are several tips on enhancements to look for and other factors to consider when renewing coverage: Following these tips
Mining Tax Clients for New Business Opportunities
Any CPA who does personal income tax returns can relate to the frustration of waiting for clients to open envelopes and organize data during the tax return informational interview. Don’t let this time go to waste. For many firms, the largest volume of clients is in tax return services. Using
What Does It Take to Lead?
Confidence. Passion. Emotional Intelligence. These are all traits that successful accountants say are needed to be an effective leader in the profession. Whether choosing to work as a CFO, serve in academia, or climb the ranks to partner of a local or national firm, certain skills undeniably top the list
Survey Highlights Emerging Tools for Firms of All Sizes
One of the clearest ways for firms to increase profitability is to become more efficient. Because technology can enhance productivity, the 2010 PCPS/TSCPA National MAP Survey asked firms how they are keeping up with software and hardware developments, including paperless systems, multiple monitors, time and billing software, client portals and
Hitting the Target: National Survey Looks at How CPA Firms of All Sizes Stack Up
Practitioners have put their business management skills to the test within their own firms during the past two years to minimize potential damage from the economic downturn, according to a biennial survey conducted by the AICPA’s Private Companies Practice Section in conjunction with the Texas Society of CPAs. The results
Are You Linked In?
While LinkedIn provides benefits particularly helpful for accountants, it is important to review all that a free, basic LinkedIn account offers. From profile creation to making connections and recommendations, LinkedIn tools can benefit users in any profession. CREATING AN ACCOUNTGetting started with LinkedIn begins with visiting linkedin.com to create a
LinkedIn Tips for CPAs
Say you run a small accounting practice but are not a marketing expert. What can you do to build your business that’s easy, quick and inexpensive? The answer is LinkedIn. The LinkedIn platform is designed specifically for business use. It is the social media of choice for more than 90
Make Your Mark With Your Social Media Status
Blogging and social networking truly remind your clients and colleagues of why, when and how to recommend or refer you. Here are some tips on how to put social media status updates and other low-maintenance missives to work for you: —By Vikram Rajan (vik@phoneblogger.net), the founder of phoneBlogger.net and author
CPAs Share Continuation Strategies
Editor’s note: Also read “Who Would Run Your Firm?” Feb. 2011, page 40. In August 1988, 48-year-old CPA Jim Feigel was in an accident that left him in a coma for 23 days. “If anything ever happens to me, the first thing you should do is sell the practice,”
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
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Current Developments in Taxation of Individuals: Part 1
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