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Succession challenges for U.S. CPA firms to tackle

U.S. public accounting firms must tackle five challenges in their succession planning to fill the gaps left by Baby Boomer partners who have begun to retire, according to results from a Global Accounting Alliance survey.

Ibanez ruling set precedent for right of CPAs to advertise dual credentials

This June marked the 20th anniversary of a U.S. Supreme Court ruling that remains of interest to the accounting profession because the litigants included a state board of accountancy and a dually credentialed attorney advertising that she was both a CPA and an attorney.     In Ibanez v. Florida Board of

Pricing issues for small firm sales

When it comes to negotiating accounting practice sales, the owners of small firms often enjoy some big advantages over their counterparts at large firms. Why? Find out in this article, which examines the factors that determine the final price paid for a small accounting practice.

CPAs have opportunities in financial planning and forecasting

Many accountants may have opportunities to expand their service offerings to small business clients by providing financial planning and forecasting, according to a new survey. Just one in three accountants offers financial planning or forecast services as part of clients’ business planning process, according to a survey of 150 accountants

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.

All in a dishonest day’s work

It’s difficult to believe, but sometimes CPA firm employees, and even partners, steal from clients. While a CPA firm’s leaders may believe this would never happen to them, claim experience in the AICPA Professional Liability Insurance Program demonstrates this does occur.

AICPA advises CPA firms to review state registration and compliance

CPA firms are being urged by the AICPA State Regulation and Legislation team to review their registration compliance procedures to ensure that they are complying with out-of-state registration requirements when performing attest engagements. The AICPA advisory was issued after recent activity by some state boards of accountancy to ensure that

High-functioning firms

High-functioning firms have leadership teams that assess situations, develop strategies, and make and execute decisions with relative ease, speed, and success. Others, however, function with a drag that pulls against their momentum, causing the business of leading, managing, and executing to take longer and produce less-than-stellar results. High-functioning firms seem

Effective performance management

For a manager, few things are more difficult than delivering honest performance feedback to an employee. And far too many managers don’t give feedback at all. Fortunately, there are ways to address performance review problems. Success lies in the execution of these simple ideas.   Define the culture of your

Do’s and don’ts of due diligence

When is the best time to perform due diligence in the accounting firm merger process? What should each side look for? How should the parties respond to unexpected findings? Find out in the 12th and final installment of the series “CPA Firm Succession: Solidifying the Future.”

Payroll, tax top choices for outsourcing in finance

Payroll and tax remain the most often outsourced functions for accounting and finance departments in the United States and Canada, according to a new survey. Outsourcing of payroll occurs at nearly half of U.S. and Canadian companies participating in the fifth annual benchmarking survey released jointly Tuesday by staffing services

The Brazilian way

Brazil, which hosts the World Cup in men’s soccer this summer and the Olympic Games in 2016, remains a top destination for foreign direct investments despite slowed economic growth. Businesses that expand into Brazil quickly learn the Latin American country has many faces.

FROM THIS MONTH'S ISSUE

How a CPA beat burnout after strokes, depression

Randy Crabtree, CPA, suffered two strokes in four days and struggled with his mental health for years before he learned to recognize, address, and prevent chronic stress. Learn from his insights on how CPAs can avoid professional burnout.