Q: I work in a small CPA firm, and my partners and I have busy schedules. We occasionally need access to each other’s schedules, which we keep in Outlook 2007. Our computer consultant has suggested that we set up a Microsoft Exchange Server so we can share our calendar information,
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Information management and technology assurance
New Investment Adviser Requirements of the Dodd-Frank Act: What CPAs Should Know
The Dodd-Frank Wall Street Reform and Consumer Protection Act, PL 111-203 (Reform Act, tinyurl.com/26zalzn), which was signed into law by President Barack Obama in July 2010, will require sweeping changes to virtually all areas of the financial services industry in the United States and will affect a wide variety of
How to Stand Out in Today’s Marketplace
The Institute has developed a multiyear marketing campaign to differentiate CPAs from other tax preparers. The initiative includes a set of tools to help members promote the value of CPA providers of tax services and to distinguish them from their competitors, and a comprehensive tax website for consumers with dynamic
Maximizing Tax Season Efficiency
Run your firm’s tax season as if you were advising a client on a business. Whether you are a two-person operation or a giant national firm, you need procedures to facilitate the tax preparation part of your practice. The following best practices for tax season, adapted from my book Managing
I Command You
Q: I recently upgraded to Excel 2007, and I can’t seem to find all of the same commands I used in Excel 2003, such as the ability to e-mail a single worksheet or pivot multiple ranges of data. Why did Microsoft get rid of some of Excel 2003’s commands, and
I Hope to See You Zoom
Q: I use Excel on a 15-inch monitor, and I sometimes find it difficult to read the smaller font data in my worksheet. Is there an easier solution to this problem than buying a bigger monitor? A: In Excel 2003, 2007 and 2010, you can zoom in and out instantly
CPAs Gain Statutory Exemption From Red Flags Rule
Following years of advocacy efforts and a legal battle, CPAs received a permanent exemption from the Federal Trade Commission’s Red Flags Rule with President Barack Obama’s signing of the Red Flag Program Clarification Act of 2010 on Saturday. The Red Flags Rule, which was released Nov. 9, 2007, under the
Firm Survey Shows Profitability Preserved Amid Flat Revenues
Despite flat revenues, CPA firms managed to maintain profitability during the past two years, according to the 2010 PCPS/TSCPA National Management of an Accounting Practice (MAP) Survey, a biennial survey conducted by the AICPA’s Private Companies Practice Section and the Texas Society of CPAs. The survey results provide a comprehensive benchmarking
Featured Online Content for December 2010
FEATURED VIDEO Use the 2010 MAP Survey to Benchmark Your Firm The AICPA’s James Metzler, CPA, and Mark Koziel, CPA, discuss findings from the 2010 PCPS/TSCPA National MAP Survey, conducted by the AICPA’s Private Companies Practice Section and the Texas Society of Certified Public Accountants. The 2010 survey includes responses
How to Stop, or At Least Make Less Annoying, Requests for Permission to Add or Change Software
Q: When I upgraded to Windows 7, I thought I wasn’t going to get any more of those little Microsoft messages that dim the screen and freeze the computer until I either approve or reject my effort to make a change in the operating system or to add some software.
Tip From a Reader: Link a Single Excel Cell Into a Word Document
Tom Glogau, a CPA with Grove, Mueller & Swank PC in Salem, Ore., wrote me that he has no trouble linking an Excel file to a Word document. But he was initially baffled when he tried to do the same thing with just a single cell from a worksheet. Copying
Make Your Accounting Department More Efficient
In today’s world, accounting departments run lean. Asked to do more with less, accountants are being pushed to the max. Since adding staff is usually not an option, here are seven ways to lighten accounting’s workload. Challenge every step, every piece of paper, every input and every output. Chances are
Featured Online Content for November 2010
FEATURED VIDEO Performance-Based Compensation Accounting firms are increasingly using pay-for-performance to compensate their high performers. Compensation experts August Aquila and Coral Rice discuss key aspects of a pay-for-performance system, how it can benefit your firm and mistakes to avoid when implementing it. Also on journalofaccountancy.com, read ideas from the
Excel Shortcuts
Ctrl+Shift+) unhides any hidden columns within the selection. Ctrl+Shift+( unhides any hidden rows. Ctrl+Shift+& applies the outline border to the selected cells. Ctrl+Shift+_ removes the outline border from the selected cells. Ctrl+Shift+~ applies the general number format. Ctrl+Shift+$ applies the currency format with two decimal places (negative numbers in parentheses).
Marcella LoCastro, CPA/CITP
I always tell people don’t forget your roots. I don’t care how successful you are, how much you’ve accomplished. Don’t forget to give back to people who have helped you along the way. I was supposed to be a teacher. I was always good at math. My father, Tony LoCastro,
How to Be a Better Mentor
A mentor’s job is to foster one-to-one relationships that challenge people to rise to higher levels of competence and responsibility. This article discusses three key characteristics of an effective mentor: 1. An effective mentor asks challenging questions that help people expand their scope of responsibilities. 2. An effective mentor is
Accounting Firm M&As: A Market Update
The market for mergers and acquisitions in the accounting profession has changed dramatically over the past 18 months. Before the financial crisis in 2008, M&As were viewed more as a tool for acquiring experienced talent and less as a means for growing the top line. The economic shift has contributed
Widen the Search Net When Hunting for an Old E-Mail
Q: I was searching frantically for an e-mail I received some weeks ago, and it never showed up in my search. I was about to give up when I decided to check my Deleted Items folder. And, sure enough, there it was. Why didn’t my search locate it there? A:
A Better Idea
An item in the August issue, “Averaging noncontiguous cells that contain some zero values” (page 73), generated several ideas from readers for a better way to address the problem. David M. Fogel, a CPA in Roseville, Calif., was the first to suggest this formula, noting it could be used in
Featured Online Content for October 2010
FEATURED VIDEO Tech Tips From Clarke Price Clarke Price, president and CEO of the Ohio Society of CPAs, is something of a techie. He has made it a habit to reach out to CPAs and other professionals for feedback on their favorite apps for everything from smartphones to the iPad.
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