Editor’s Note: This file accompanies “Forecasting With Excel,” by James A. Weisel, which appears in the February 2009 issue of the JofA. Click here to download the illustration file of the analysis of Dave’s BBQ.
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TOPICS
Information management and technology assurance
Sample Sabbatical Program Policy
Here is a sample sabbatical policy based on actual policies used by firms: 1. Eligibility. All partners with five years of service will be eligible to take a sabbatical every five years. All managing associates with seven years of service will be eligible to take a sabbatical every seven years. Partners
Converting to IFRS
The SEC’s proposed road map for the potential use of IFRS in financial statements prepared by U.S. issuers could result in the mandatory use of international standards beginning in 2014, 2015 or 2016, depending on a company’s size. Under the plan, the SEC would decide in 2011 whether to proceed
Forecasting With Excel
Your client, Dave’s BBQ, a local independent restaurant, is interested in determining the effect on sales revenue of certain advertising strategies. Dave has weekly data on advertising dollars spent as well as sales revenue from the restaurant and has come to you, his CPA, to help him determine the link
Practice Management
A survey of 2,722 CPA firms revealed strong growth during the past two-year period but less progress in succession planning and professional training. According to the 2008 National Management of Accounting Practice survey, 75% of responding firms experienced growth ranging from 1% to 19% from May 2006 through June 2008.
Uniting the Global Profession
Robert Bunting became president of the International Federation of Accountants (IFAC) in November, beginning a two-year term. Prior to this, he was deputy president of IFAC for two years and has been a member of the IFAC Board since 2005. Bunting is a partner in Seattle-based Moss Adams LLP, where
The Virtues and Challenges of a Long Break
Some people do solo retreats for personal development. Others provide volunteer services. One CPA firm partner took his two adopted children back to their homelands—Korea and Vietnam—where his 21-year-old son was reunited with his birth mother, brother and sister after 14 years, and discovered he had six nieces and nephews.
Why Can’t They Read My Word 2007 Document?
I recently switched to Vista and Word 2007 and, while I’m finally getting used to the new setup, I am having a serious intermittent problem. Here’s the thing: Sometimes when I send a memo to a client who uses Word 2003, I’m careful to configure the file in the older
Fast Way to Adjust Height and Width of Cells in Excel
When I’m working in Excel, I frequently need to adjust the height and width of a cell. I can do it with a mouse, but that means I have to shift my hand from the keyboard to the mouse. I’m beginning to realize I can be more efficient if I
Right Track Your CPA Career
Careers aimed toward excellence start with the recognition that every CPA is truly running his or her own personal firm. Whether they are in public accounting, government or private industry, everyone must make investments into their company to be successful. These investments provide extraordinary returns for the individual CPA as
Create Custom Calendars in Excel and Word
I can’t tell you how many times I’ve wished I could peek at a calendar while working in Excel to verify a date or check the timing of some transaction. Sure, I can switch to Outlook for that, but I figured since I can input a date with two keystrokes,
Another Way to Hide Desktop Shortcuts
In the November 2008 issue, page 105, I suggested ways to easily hide desktop shortcuts of confidential material. I suggested moving them off the desktop, out of sight to the Start menu, which only comes into view when you click on Start. However, I should have mentioned still another, even
Advice for Technophobes
I confess—computer technology makes me nervous. How can I overcome this silly fear? It’s a real drag. First of all, it’s not silly. It’s serious and fairly common. In this age of advanced technology, it’s a major handicap. I know accountants with this problem, and many have told me they’ve
Using IFRS to Drive Business Development
Inside the growing footprint of IFRS lies something many small and midsize CPA firms may be overlooking—rich opportunities for business development. IFRS-related work in the United States has largely been the domain of major accounting firms thus far. While national firms are filling many of the needs, there’s a large
Should You Stick With XP/Office 2003 or Upgrade To Vista/Office 2007?
My office needs to buy new, more powerful computers, and we’re undecided on whether to stick with XP/Office 2003 or upgrade to Vista/Office 2007. The staff is split on the issue: Some argue we should upgrade so we’re not left behind as technology moves forward; others insist we should stay
Survive Downturn With Data Analytics
As the economic downturn continues to bite, corporate financial managers are likely to look for every bit of help they can get to free up more cash from within their businesses. Spotting opportunities for further efficiency or for cost savings is never easy—but an ideal tool for doing just that
Economic Crisis Resource Center Launched
The AICPA launched the Economic Crisis Resource Center, a Web site for CPAs that offers resources on navigating challenging economic times. The site (www.aicpa.org/economy) features more than 200 items, including articles on strategic planning, budgeting and forecasting; webcasts on credit and financing impacts; tools for minimizing the effects of a
New Statement on Quality Control Standards Effective as of Jan. 1
Statement on Quality Control Standards (SQCS) no. 7, A Firm’s System of Quality Control, applies as of Jan. 1, 2009, to a CPA firm’s system of quality control for its accounting and auditing practice. The statement describes elements of quality control and other matters essential to the effective design and
New XBRL Taxonomy for IFRS Released for Public Comment
The International Accounting Standards Committee (IASC) Foundation on Monday released a near final version of the IFRS Taxonomy 2009 for public comment. The IFRS Taxonomy 2009 is the eXtensible Business Reporting Language (XBRL) version of IFRS as of Dec. 31, 2008. XBRL, or “interactive data” as the SEC often
Info Security Leads Tech List
The message of the AICPA’s 20th Annual Top Technology Initiatives Survey is clear—CPAs are placing great importance on information security. Security-related matters dominated the top three spots in the ranking of initiatives affecting IT strategy, investment and implementation. Information security management was voted the most important initiative for the
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