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
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Firm practice management
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.
JofA Website and Articles Win Business Publication Awards
The JofA’s website, journalofaccountancy.com, won the silver award for Best B2B Website in the 2010 Tabbie Awards competition, presented by Trade, Association and Business Publications International (TABPI). Two JofA articles were also honored in the How-To and Technical article categories. The awards, which recognize excellence in editorial content and design,
Vetting a Vendor: Questions to Ask Before Making an Investment
Editor’s note: Also read “Cloud Computing: What Accountants Need to Know” in the October 2010 issue of the JofA. Ample research must be done before selecting any vendor, but specific areas should be addressed when choosing to move your data to the cloud. The following are some questions to
Cloud Computing: What Accountants Need to Know
There’s no arguing that “cloud computing” is gaining a great deal of momentum. Worldwide, cloud services revenue is forecast to reach $68.3 billion in 2010, a 16.6% increase from 2009 revenue of $58.6 billion, according to analyst firm Gartner Inc. So what does this mean to the accounting profession? What
Lynn Teuscher, CPA
If you were to observe one of our firm’s weekly staff meetings, you might wonder who owns the business. Legally, of course, there are three owners of AGT—my partners, Dorian Aiello and Steve Drageset, and I. But to listen to the staff, you would think they were the owners. They
Featured Online Content for September 2010
FEATURED VIDEO Tax Software Survey Analysis In this video, JofA Senior Editor Alexandra DeFelice discusses what more than 12,000 CPAs had to say about their tax preparation software and provides analysis of some tax software trends to watch. Also on journalofaccountancy.com, find more information about each tax preparation software vendor,
Dealing With Clients in Financial Distress
Managing receivables is difficult in the best of times, and these challenges have been made even more difficult by the current economic environment. But there are several steps your CPA firm can take. Get a handle on billing issues at the outset. First, send out invoices in a timely manner.
Payment Processing Tips for Small Businesses
In a tight economy, small businesses are finding it increasingly necessary to offer their customers a payment card (credit/debit) option. CPAs can use these tips to educate their small business clients about payment processing: —By Greg Hammermaster (ghammermaster@sagepayments.com), president, Sage Payment Solutions. More from the JofA: Find us
Employee Involvement in Practice
The article “Employee Involvement: A New Blueprint for Success” (May 2010, page 46) affirmed many of the initiatives we have been implementing over the past year. At Concannon, Miller & Co. PC, our GO To Team consists of five individuals from all levels of our professional staff whom we have
Jobs Key to Consumer Confidence
Job growth is at the heart of increasing consumer confidence and growing the economy, Quincy Krosby, chief market strategist for Prudential Financial, told AICPA Council members Tuesday in San Diego. “If we don’t bring the word ‘confidence’ in, small business owners will be afraid to hire. They are worried about
Sample Win-Win Compensation Agreement for Managers
Click here to download a sample win-win agreement spreadsheet, applicable to managers. Also read, “Retaining Top Talent Still a Requirement for Firms,” by Heidi Brundage, CPA, and Mark Koziel, CPA.
Retaining Top Talent Still a Requirement for Firms
For years, finding and retaining staff were the top two concerns of management at public accounting firms. But when the economy soured, client retention quickly became the top issue for CPA firms of all sizes, according to the 2009 PCPS CPA Firm Top Issues Survey, a biennial survey of public
Employee Involvement: A New Blueprint for Success
When it comes to improving employee retention and increasing profitability, my firm, San Francisco-based Eichstaedt & Devereaux, believes that investing in and developing our future leaders builds the foundation for success. Instead of top-down firm management, we use a grass-roots employee involvement program to engage employees in the firm’s business.
Prevent Payroll Errors
Payroll mistakes can be costly. Laws taking effect this year, including the Paycheck Fairness Act and Working Families Flexibility Act, and initiatives such as the IRS’ National Research Program and OSHA’s recordkeeping National Emphasis Program, can result in fines and penalties for errors or noncompliance. The following tips can help
SBA Warns Small Businesses of Scams to Help Obtain Government Loans
The U.S. Small Business Administration (SBA) warned that the agency has received several complaints from small businesses about abusive marketing practices, scams and exorbitant fees charged by companies offering to help businesses get a loan, grant or other federal funds from the SBA. Complaints received by the SBA’s Office of
Project Management for Accountants
Project management is a client-focused process that significantly increases the probability of providing the desired results to the client. It can help an accounting firm plan its resources more effectively and ensure that work is delivered to clients in a timely manner. The project management methodology enables an accounting firm
Technology Considerations for Converting to IFRS
Lewis A. Dulitz, vice president of accounting policies and research at Covidien—a $10.7 billion health care products company with 42,000 employees in more than 60 countries—was part of a team that implemented the necessary technology changes in Europe to help Covidien convert to IFRS and led a similar team in
Toward a (More) Paperless Tax Practice
Nearly all CPA firms prepare tax returns electronically. However, many still also use some old-fashioned methods, such as sending out tax organizers manually. Here are tips to more fully realize what it means to go paperless. First, understand and share the goal: A more efficient, digital tax process can help
Small Business
Highlighting the experiences of successful entrepreneurs, the U.S. Small Business Administration, in partnership with Dell Inc., launched an online video series offering tools and strategies to help small business owners rebound from the recession and put themselves in a position to expand and create jobs. Strategies for Growth: Advice
Features
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