EXECUTIVE SUMMARY SEPARATING BAD CLIENTS FROM YOUR FIRM is not as easy as picking up the phone and telling them they must find a new CPA. First, you must clarify your firm’s long-term goals. Second, you must decide which clients will be most profitable as your firm prepares to meet
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Information management and technology assurance
CPA Firms: Future Alliances
EXECUTIVE SUMMARY CPA FIRMS ARE CHANGING: They will become more dependent on each other—fueling growth and service opportunities in the coming decade. THE FIRMS WILL SHARE CLIENTS with other firms, creating informal cooperative networks. Further, industry CPAs will outsource more work to this network, which will adapt itself to the
www.yourcompany.com
EXECUTIVE SUMMARY NOW’S THE TIME to consider launching a commerce site on the Internet. You can bet that many of your competitors—at least the smart ones—are either on the Net already or are rushing to get aboard, because that’s where the business is. THE INTERNET IS providing new ways to
150 Hours: A Look Back
EXECUTIVE SUMMARY MOST STATES HAVE ADOPTED THE 150-HOUR requirement. But as the new rules take effect, firms may notice unintended effects on recruitment and other firm management issues. FLORIDA WAS THE FIRST STATE TO ADOPT the 150-hour rule and consequently makes a good case study for other states. MANY STUDENTS
Solo, But Not Alone
EXECUTIVE SUMMARY MANY SOLO CPAs ARE CONSIDERING some very important questions: Will sole proprietor practices operate as part of special group or affiliated entities? Must solo CPAs merge to survive? WHAT CPAs WILL BE DOING TO MAKE a living in the year 2009 will be quite different from what they
What You Really Need
While technical innovation continues at breakneck speed, wise computer users would do well to pause before hurrying to buy the latest computer, software or gadget that hits the market. Some of the new gear is essential, but many new products add little or nothing to CPAs’ productivity. The goal of
Make Your Meetings Count
EXECUTIVE SUMMARY EVERY BUSINESS PERSON KNOWS WHAT IT feels like to waste time at a poorly run meeting. Luckily, modern technologies, such as e-mail, may eventually reduce the number of face-to-face confabs and save time for employees. WHEN YOU CALL A MEETING, BE SURE TO have a clear idea of
For CPAs having trouble finding what they need on the Internet, one search engine company has hired a CPA to do the looking for them.
The Miner Accountant C onventional Internet search engines are nothing if not complete. Type in accounting and you might get anywhere from 10,000 to 3 million possible Web sites, often in no discernible order. It would be great to have an assistantparticularly another CPA who knows what you’re looking forto
Plug-in to CPE
EXECUTIVE SUMMARY ONLINE CPE—STILL IN ITS INFANCY— is available to CPAs wherever they are at any time. It saves time and money, especially for CPAs who may have to travel far to attend conventional seminars. BECAUSE VENDORS CAN REACH A HUGE AUDIENCE, they may be encouraged to offer classes in
Practice Management
No Surprises in 1999 MAP Poll Finding, hiring and retaining quality staff topped the list of practice management concerns in a recent poll conducted by the AICPA management of an accounting practice (MAP) committee. It was the third year in a row that firm managers ranked staffing as their number
Be a Go-To Person
EXECUTIVE SUMMARY HAVING A GREAT DEAL OF KNOWLEDGE and experience in a niche is helpful, but being the industry champion (a “go-to” person) has a greater impact in the marketplace. A go-to person is perceived as one of the most knowledgeable experts in the field DO ENOUGH RESEARCH BEFORE you
Stay Out of Court
EXECUTIVE SUMMARY THERE ARE ALTERNATIVES to litigation that can be used to settle disputes and help reduce the number of times a CPA must appear in court. These alternatives collectively are known as alternative dispute resolution (ADR). TECHNIQUES THAT FALL UNDER the ADR umbrella include mediation, arbitration and hybrid methods
Doing Well By Doing Good
EXECUTIVE SUMMARY ONE CALIFORNIA FIRM DEVELOPED a program—$KiddAccounts—to teach elementary school children the basic concepts of budgeting. Steve Miksis, a CPA and manager, tailored the program to the young audience, using ideas they could easily understand. Taking an interactive approach and using Budgetbuck, a large cartoon version of a dollar
Upgrade to Windows 98 Or Skip to NT?
EXECUTIVE SUMMARY IF YOURE STILL RUNNING DOS or an early Windows operating system, it makes sense to upgrade to Windows 98. BUT IF YOUR COMPUTER is equipped with Windows 95, the answer is a bit more complicated and you must address some technical issues before making a decision. WHILE THERE
A Common Peer Review Problem
EXECUTIVE SUMMARY AICPA STANDARDS CLEARLY STATE procedures for confirmation of accounts receivable. Nevertheless, and despite an auditing procedure study, peer reviews continue to find that CPA firms have problems understanding the various processes. RECEIVABLE CONFIRMATIONS ARE NOT ALWAYS required if accounts receivable are immaterial, the use of confirmations would be
A Solution To Firm Retirement Problems
EXECUTIVE SUMMARY MOST CPA FIRMS FACE A HUGE FINANCIAL liability to their retired and soon-to-retire partners. Few firms have developed a satisfactory solution to this problem. In most instances, the typical firm does not prefund its retirement plan because there is no current income tax deduction for doing so. THE
The Partner Alternative
EXECUTIVE SUMMARY TRADITIONALLY, ALL CPAs in public accounting aspired to be partners. The partner title was the key measure of success and firms operated on an up-or-out model. TODAY, HOWEVER, HARD-to-find specialists and a new generation wanting more personal time are unable or unwilling to do what is necessary to
Top Office Technology Tools
Office technology products are getting more powerful and easier to use, providing accountants with the opportunity to work smarter and faster. Listed here are many products that can make CPAs’ work more efficient and effective. DESKTOP COMPUTERS New computer technology has made enormous leaps in the past year. The top
The ABCs Of Supervision
EXECUTIVE SUMMARY ALTHOUGH TECHNICAL COMPETENCE is important, a key but neglected area of a CPAs development is supervisory skill. CPAs NEED TO LEARN HOW to communicate, organize, motivate and direct the efforts of others in their firm A LACK OF INTERPERSONAL SKILLS may be a major reason why many qualified
Accounting Software: The Road Ahead
EXECUTIVE SUMMARY BIG CHANGES ARE taking place in the accounting software industry. The highlights: High-end vendors are enlarging their market focus by packaging slimmed-down versions for smaller customers. Applications software will be delivered not on disks or CD-ROMs, but through the Internet from central facilities and will be billed the
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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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