U.S. public accounting firms are making greater use of technologies including cloud-based software and video conferencing, according to the 2014 Management of an Accounting Practice (MAP) Survey from the AICPA Private Companies Practice Section (PCPS) and the Texas Society of CPAs (TSCPA). The biennial study also unveils trends in fees, billing rates, compensation, and types of services and benefits offered.
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TOPICS / FIRM PRACTICE MANAGEMENT
Human capital
2014 MAP survey: Firms experience growth, stock up on cash
U.S. accounting firms are storing up equity as they prepare for a number of financial challenges over the next few years. That’s one of the findings of the 2014 National Management of an Accounting Practice (MAP) Survey, released Monday by the AICPA Private Companies Practice Section (PCPS) and the Texas
Making manager: The key to accelerating a career in public accounting
Being promoted to manager is a key development in a young public accountant’s career. Here’s what CPAs need to learn to land that promotion.
How to deliver successful diversity and inclusion results and benchmark your progress
As leaders in the accounting profession come to understand the business case for diversity and inclusion, they often have a similar quandary. “The next natural question is, ‘So what do I do about it?’ ” said Kenneth Bouyer, CPA, chairman of the AICPA National Commission on Diversity & Inclusion and
A pipeline for diversity
A professionwide effort to grow the ranks of underrepresented minorities in accounting has been developed by the Howard University School of Business Center for Accounting Education’s Pipeline Working Group, supported by the AICPA. The initiative is focusing on reaching out to high school and community college students in an effort to create a pipeline of talent to the profession.
The leading edge: Tips from the AICPA Leadership Academy
What does it take to be a great leader? What are the keys to inspiring and guiding others to maximize their potential? This article looks at five lessons learned at the AICPA Leadership Academy.
Raising rainmakers
This article proposes a series of strategies firms can follow to cultivate their young CPAs’ business development identity and the skills needed to go with it.
How to speed the path to partner
Want a shot at making partner earlier than your peers? It won’t be easy, but here are some ways to do it.
How to start and run a mentoring program
Formal mentoring relationships can help young CPAs sharpen their skills, plot their goals, and achieve their objectives, but what does it take to set up a successful mentoring program? This article looks at the types of planning, people, and processes that must be in place for mentoring relationships to flourish and for employers and employees to reap the benefits.
How real work experience can help students, businesses
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. Eighty-three
How to manage internal succession
Young talent is at the core of successful internal succession plans. How can firms identify and develop the leaders they need to replace retiring partners? Find out in the eighth installment of the series “CPA Firm Succession: Solidifying the Future.”
Alternative deal structures for succession
Accounting firm partners looking to retire need to either find an internal successor or sell their practice to an external buyer. What types of deals are possible in an external sale? Find out in the seventh installment of the series “CPA Firm Succession: Solidifying the Future.”
Honing your hiring
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
How to land an overseas assignment
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
Commission to survey accounting profession’s diversity climate
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
Tackling the top issues
For many, if not most, accounting firms, the quest to survive the Great Recession and its aftermath has ended. The focus now is on growth. That’s one of the overarching themes derived from the 2013 Private Companies Practice Section (PCPS) CPA Firm Top Issues survey, which found that accounting firms
How to select a successor
Selecting the successor for a retiring partner in an accounting firm can take on many forms. The decision can be made by an individual CPA or by the firm leadership. It can involve the transfer of clients, ownership, and/or responsibilities internally or the sale of ownership to an outside entity.
The long goodbye
The best time for an accounting firm to start work on a succession plan is the day the firm is formed. Of course, most firms don’t do that. The question in many cases has become: “How quickly can I put together a succession plan and head into retirement?” The answer
Demand for accounting grads reaches all-time high
A new study examining supply and demand trends in accounting found that the profession is thriving—with college enrollments, degrees awarded, and demand for new accounting graduates all reaching all-time highs. CPA firms hired 40,350 new accounting graduates last year, including 23,793 graduates with bachelor’s degrees and 16,557 with master’s degrees,
Staffing, succession emerge as top CPA firm concerns
Succession planning and staffing joined new client acquisition and dealing with the complexities of rapidly changing tax regulations as the top issues facing U.S. accounting firms, according to an AICPA survey released Tuesday. The 2013 Private Companies Practice Section (PCPS) CPA Firm Top Issues survey found evidence that CPA firms
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Preparing clients for new provisions next tax season
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