CPAs should be cognizant of the professional liability risks that may exist when working with aging clients.
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Firm practice management
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.
Managing risk in a CPA firm merger or acquisition
Firm leaders must weigh many considerations during the due-diligence, negotiation, and integration phases of a successful merger or acquisition.
The culture test
Ask managing partners for the top reason an accounting firm merger succeeded or failed, and the most popular answer you’ll hear is culture. Learn how firms can assess and adjust for cultural differences in a merger in the 11th installment of the series “CPA Firm Succession: Solidifying the Future.”
Accounting across borders
CPA firms are finding international services a booming business, based on responses to a recent AICPA Private Companies Practice Section (PCPS) survey. The survey examines practitioners’ interest in expanding to new markets and growing an international clientele, as well as firms’ top international challenges and needs.
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.
Bringing in more clients
Networking and visibility are key to building any CPA firm. To establish their brand in the community, CPAs must find the business development approaches that best suit their individual style. The following steps will help them pave their own business development path: Overcome the urge to be the worker
Managing change successfully
Leaders can foster success and overcome resistance with a well-thought-out strategy for implementing any transition and for communicating their plans.
Harnessing the power of the cloud
Cloud computing and increasingly powerful mobile devices are breaking down communication, data access, and market barriers for CPAs, but the breakthroughs also open the door to potential trouble. A panel of technology experts offers advice on how CPAs can make the most of technology while minimizing the risks.
How to maximize client retention after a merger
Client retention is essential to the success of an accounting firm merger. Find out how to minimize client turnover in the 10th installment of the series “CPA Firm Succession: Solidifying the Future.”
The accidental investment adviser
CPAs often are solicited for advice regarding potential investments. A CPA should refrain from providing specific investment advice unless he or she has been adequately trained and licensed to serve as an investment adviser.
10 tips for implementing shared services
Shared services are being applied to an increasing number of functions. Human resources, IT, and finance were some of the first areas where shared services commonly were implemented. Now sales operations, supply chain operations, and marketing are taking advantage of shared-services platforms.
Managing owner transition through an owners’ agreement
The contract that establishes owners’ terms with a firm also can play a pivotal part in whether a succession plan will succeed. Find out the key succession-related elements to address in an owners’ agreement in the ninth installment of the series “CPA Firm Succession: Solidifying the Future.”
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.
Patent predicaments: Be wary of dubious claims
CPA firms and their clients have been targeted by patent-holding companies demanding licensing payments for use of seemingly ordinary business processes. Handling the threat of a lawsuit can be a delicate matter, even as regulators and legislators undertake efforts to rein in patent-holding companies and patent-assertion entities.
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
Failure to detect theft and fraud: It’s not just an audit issue
CPAs can use several techniques to protect themselves against risk exposures related to failure to detect theft and fraud.
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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.
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