CPA firms have their eyes on the cloud, but most of their accounting software remains loaded on their own computers and servers. A new section of the 2014 AICPA PCPS Management of an Accounting Practice (MAP) Survey uncovers the who, what, how, and why of information technology decisions in public accounting.
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TOPICS
Firm practice management
Cash balance plans for professional practices
Understand the rules for this leading form of retirement benefit.
How small businesses can keep data secure
Lisa Traina, CPA/CITP, CGMA, president and owner of information technology security firm Traina & Associates, suggests ways for organizations with limited IT budgets to keep their data secure.
Q&A: Should you dump the billable hour?
A growing number of industry pricing experts are urging CPA firms to jettison the venerable billable hour and replace it with value pricing. In this Q&A session, value-pricing champion Ron Baker provides an in-depth look at the benefits of making the switch.
Deloitte’s Engelbert to be first female U.S. CEO of a Big Four firm
Cathy Engelbert, CPA, has been elected CEO of Deloitte LLP, the firm announced today. When Engelbert begins her role in March, she will be the first woman CEO of a Big Four firm in the U.S.
Expanding your app-titude
A monthly look at mobile apps that can make the CPA’s job and life better. This month: SlideShark makes PowerPoint on iPads less painful … Online storage/synchronization: Dropbox, et al.
All CPAs should be concerned about going concern
Approximately 30% of claims brought against CPAs in the AICPA Professional Liability Insurance Program are made by third parties. Moreover, nearly 60% of the program’s 2013 financial statement services claims related to the failure to detect a misstatement or a disclosure error, especially going-concern disclosures.
Achieve elite status
Mark Divine shares lessons and insights from his distinctive viewpoint as a businessman, trainer, and former commander on SEAL Team One.
2014 MAP survey: Firms tech it up a notch
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.
Build business with “cost-cutting” reviews
Small firms can bolster their client relationships and generate additional revenue through one- or two-hour microengagements.
How to mind your manners in the Middle East
The Middle East offers foreign companies many lucrative business opportunities, but, to gain access, suitors must first be considered culturally acceptable by their Middle Eastern counterparts.
How health care data security rules may affect you
CPAs must properly secure any patient health care data that may come into their possession, to avoid potentially severe civil and criminal penalties.
Drawing the line: Providing tax advice related to the Affordable Care Act
CPAs who provide tax planning services may be well-positioned to provide clients with PPACA-related advice regarding the tax and cost issues associated with selecting health insurance plans. But other matters go beyond the scope of the CPA’s expertise.
How firms can use social media more effectively
Many CPA firms post sparingly and need better training and policies around social media, a new survey shows.
Survey: Financial planning services help firms retain clients, increase revenue
Adding personal financial planning (PFP) services can help a CPA firm attract and retain clients and increase its revenue, the AICPA’s recent Economic Benefit of PFP Services survey found.
2014 MAP Survey: Firms experience growth, stockpile cash
U.S. public accounting firms are socking away chunks of equity, 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).
How to price an owner’s interest in a CPA firm
Many accounting firms are facing a daunting challenge paying for partner retirements. Long-standing buyout agreements often aren’t calibrated for today’s demographic and market realities. This article shows how firms can assess and adjust the terms and types of buyout agreements to facilitate successful ownership transitions.
Expanding your app-titude
A monthly look at mobile apps that can make the CPA’s job and life better. This month: Clarity, QuickBooks Online, and Xero.
Buckle up: The importance of engagement letters
If your firm has never used engagement letters or perhaps has not implemented them consistently, where do you start? Here are some tips to help increase the efficiency and effectiveness of this critical tool.
Robert J. Ciaruffoli, CPA
A conversation with Robert J. Ciaruffoli, CPA.
Features
FROM THIS MONTH'S ISSUE
How to replace running totals in Excel
Accountants routinely copy down formulas in Excel to track cumulative balances, such as cash flow and retained earnings, but there is a better way. This JofA Technology Q&A article shows the way with step-by-step instructions and a video walkthrough.
