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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.”

Sweeping formats under the rug

Q: I received an error message in Excel stating that my workbook had “Too many cell formats, Excel encountered an error and had to remove some formatting to avoid corrupting the workbook.” What would cause this type of error, and how do I avoid it in the future? A: Copying

I’m happy you asked

Q: What type of technology should I give my employees to keep them happy? A: It’s been my experience that if you want happy employees, then hire happy people. I discovered this simple concept as a Little League baseball coach. While all the other coaches were evaluating the kids’ speed,

Five techie TED Talks

To further feed your tech-savvy appetite, you may want to check out these five interesting TED Talks featuring various technology topics: “Fighting Viruses, Defending the Net” (Mikko Hypponen, 2011) (17:35). “All Your Devices Can Be Hacked” (Avi Rubin, 2011) (16:56). “Tracking Our Online Trackers” (Gary Kovacs, 2012) (6:39). “Welcome to

Renewed reasons to change names

Q: Our two website domain names are coming up for renewal soon, and our current domain-name-hosting company charges a renewal fee of $37.99 per year per domain name. (We use another company for web hosting.) This seems high compared with other advertised domain-name-hosting fees I see, so we are considering

What’s the text?

Q: We provide smartphones to our 120 sales reps, who primarily use them to send and receive thousands of text messages to and from their overseas customers. However, these customers often use other carriers, and, as a result, the text messages exceeding a relatively low messaging-plan threshold cost us a

Five key trends worth watching

Demand for the services of CPAs is likely to intensify in the coming years. But in attempting to meet that demand, CPAs and the businesses they serve appear destined to face challenges in recruiting and retaining talent. These were some of the developments in a forecast for the accounting profession

AICPA subsidiary CPA2Biz changes name to CPA.com

CPA2Biz, the commercial subsidiary of the AICPA, is changing its corporate name to CPA.com. Erik Asgeirsson, president and CEO of CPA.com, announced the change at the AICPA Council meeting in Scottsdale, Ariz. The CPA.com brand is not new to CPA2Biz. The company has used the brand in marketing its digital

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

SEC issues warning about bitcoin investments

The SEC is urging investors to proceed with caution when evaluating potential investments related to bitcoin. Bitcoin-related investment opportunities may come with a heightened risk of fraud, the SEC warned in an investor alert issued Wednesday. In the alert, the SEC said the rise of bitcoin and other virtual and

How to use COSO to assess IT controls

CPAs can assess the effectiveness of their organization’s information technology controls by using Principle 11 of the newly updated internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). See a step-by-step procedure for applying Principle 11 to IT controls.

The hidden scrolls

Q: A colleague sent me an Excel 2013 workbook, but when I open it in Excel 2007, the scroll bars do not properly display. Is this a backward compatibility issue, and if so, is there a solution? A: Excel allows you to suppress the scroll bars in a given workbook;

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

Several Windows 8.1 questions

I have received multiple questions concerning Windows 8.1, as follows. Don’t Get Me Started Q: How do I make Windows 8.1 boot directly to my Desktop view? A: To set the Desktop as your default view in Windows 8.1, right-click on any unused portion of your Taskbar, select Properties, and

Tag—you’re it!

Q: I overheard someone say that taking pictures with a smartphone is less secure than using a camera; do you have any idea what they might be talking about, and is this true? A: By default, when you take a picture (or record a video) using your smartphone, your camera

Future tech

Since publishing the November 2013 Tech Q&A topic “What’s Next,” (page 68) which discussed the future of smart glass, RFID, and 3-D printing technologies, I’ve received numerous requests for more technology predictions. Here are a few more promising technologies that you might want to keep an eye on. Coin. A

Going paperless, manually

Author’s tip: A few years ago I began downloading the product manuals for each new appliance and gadget I purchased, and I keep them in a folder named Product Manuals. For example, I have electronic PDF versions of all of the product manuals for all of my appliances, televisions, stereo

Seeing things from a different perspective

Q: I purchased an Epson EX7220 projector for our training room, and for convenience I set the projector up on the countertop alongside the classroom (as pictured below).   I hoped to use the built-in keystone tools to adjust the screen to the proper rectangular display. Unfortunately, the keystone slide

Excel: The power of mapping

CPAs often have to produce recurring reports, such as quarterly balance sheets, from datasets, such as trial balances. The process can be tedious and prone to error, but an Excel technique called mapping can show the way to better results. Learn more in this Technology Workshop.

Embracing the automated audit

Technology is changing the way audits are being performed, with greater access to data but also more data to sort through. Auditors can remain efficient and effective by employing applications designed to help automate some procedures.

SPONSORED REPORT

Preparing clients for new provisions next tax season

As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.