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
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TOPICS
Information management and technology assurance
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
The Millenium Muddle
EXECUTIVE SUMMARY THE YEAR 2000 PROBLEM (Y2K)—where computers cant determine in what century to place years stored in two-digit format—is coming to a head. When the clock turns to January 1, 2000, two years from now, some computers will spew out erroneous information. THE ODDS OF FINDING a quick, easy
Conquering Shyness
EXECUTIVE SUMMARY VERY FEW CPAs ARE EXTROVERTED, “people” persons. But to be a successful CPA today you have to go out and sell yourself and your business to clients and prospective clients. YOU CANT BECOME extroverted overnight. But by following some tips, little by little you can overcome shyness about
Best Practices for CPA Firms
EXECUTIVE SUMMARY THE AICPA HAS COMPLETED TWO projects to identify “best practices” for accounting consultations and auditor communications with boards of directors and audit committees. These practices are intended to help CPA firms evaluate and enhance their policies and procedures in these critical areas. IN FIRMS THAT FOLLOW BEST PRACTICES,
Writing in Plain English
EXECUTIVE SUMMARY FOLLOW FIVE IMPORTANT writing principles and your clients will understand better what you do and why it benefits them. USE MANY VERBS. They give your language life. Use the active voice—the passive voice will rob your writing of its energy—and simplify your sentences by breaking them up into
Monitoring A Small Firm
EXECUTIVE SUMMARY SMALL FIRMS MAY HAVE DIFFICULTY complying with American Institute of CPAs practice monitoring requirements because in some very small firms an individual may have to review his or her own performance. STATEMENT ON QUALITY CONTROL Standards no. 3, Monitoring a CPA Firm’s Accounting and Auditing Practice , which
Handling the Small Public Audit Client
EXECUTIVE SUMMARY THE SMALL PUBLICLY TRADED corporate audit market offers a substantial marketing opportunity for smaller accounting firms. A SURVEY SHOWS SUCH COMPANIES appear to be generally satisfied with their small firm auditors but don’t know about or take full advantage of all the services their firms offer. THERE ARE
Letter from the State Board: What Should You Do Next?
EXECUTIVE SUMMARY STATE BOARDS OF ACCOUNTANCY are responsible for investigating complaints from the public regarding CPA performance and behavior. STATE BOARDS CAN REQUIRE practitioners to take specific CPE courses to correct an apparent deficiency, to cease and desist certain behaviors and to submit to some form of practice monitoring. They
High-Tech Tools That Do the Job
New computer and communications hardware continues to inundate the market, numbing even the most technology-savvy user. But most of those new products tend to be blips on the horizon—here today and gone tomorrow. Often they dont do what they claim, or they do it badly or what they do is
The Importance of Customer Focus
EXECUTIVE SUMMARY FOCUSING ON CLIENT NEEDS begins with creating a client service plan to use with each client at least once a year. The client service plan helps you learn not only what each client needs but also what it thinks your firms strengths are and how those strengths are
Microsoft
Microsoft Conference to Provide Consulting Help S taff members who are their firms experts on technology and consulting are not invited to Microsofts June conference, but the nonexperts are. The Partners Conference, presented in cooperation with the American Institute of CPAs, is designed to help senior partners figure out the
Where to Find Help Online
A guide to Internet resources for CPAs. Where to Find Help Online By John J. Gill John J. Gill , CPA, CMA, is a sole practitioner in Newport News, Virginia, specializing in tax and information technology consulting. A member of the
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