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outlook & analysis

four new checklists for succession planning

start with the four goals you need to start working on today.

by august aquila
aquila global advisors

true succession planning is a really a lifelong process.

its primary purpose is to ensure the continuity of the practice from one generation of leaders to another. ultimately it’s the founder admitting and accepting that he or she won’t live forever. that’s a very difficult and emotional fact to come to accept, especially after spending a lifetime building and running a practice.

august aquila

more august aquila on 卡塔尔世界杯常规比赛时间:  partner accountability: seven signs your firm may be in trouble | 12 steps to a foolproof merger |  seven steps to building a great partnership  |  5 success tips for tax season  |  managing partner job #1: how to get buy-in  |  the 10 basic ways to boost profits at an accounting firm  |  the war for clients: aquila’s top three strategies   |  can you really change a partner?  |  11 weekly self-assessment questions for professionals  seven keys to a successful merger  – click here for the pre-merger data gathering checklist for an accounting practice (pdf, 4 pages)  |  seven steps to enforcing accountability among your firm’s partners  |  five steps to achieving partner unity  |  eight essentials for measuring client service  |  partner accountability: seven signs your firm may be in trouble  |  integration: seven keys to a successful merger  |  12 things that should not be on your partner retreat agenda  |  five ways how not to implement a system of partner accountability  |  seven reasons why it’s time to start holding the partners accountable  |  25 ways to grow your practice  |  are bad clients driving you crazy?  |  herding cats: change management for cpa firms

in this article, we’ll address four stages, each with a checklist:

  1. for the managing partner who is thinking about succession, there are four primary goals that he or she should be working on during the next few years.
  2. the next area to address is whether the current managing partner plans to remain with the firm.
  3. once you get some answers to these questions, then it’s time to start focusing on the successor and his/her goals for the future of the firm.
  4. while there are many other areas that need to be covered, let me just end by mentioning a 10-step process that you may want to consider. read more →
outlook & analysis

six new indicators that show accounting firms are rebounding strongly

latest data show accounting industry entering 19th straight month of annual growth.

by rick telberg
exclusive to 卡塔尔世界杯常规比赛时间

the accounting and bookkeeping sector is showing more signs of strength in a recovering economy, with positive indicators in hiring, wages, and hours worked, according to the latest 卡塔尔世界杯常规比赛时间 analysis.

to be sure, expanding staffs and rising wages also set the stage for a new battle for top talent and tighter margins. but for now, most accountants seem happy enough that business is growing.

current key indicators include:

  1. steady to rising headcounts for all of the accounting and bookkeeping sector for almost two years so far.
  2. in particular and more recently, new hiring at cpa firms.
  3. eight months of wage increases for supervisory staffers, after almost three years of wage increases for non-supervisory staffers.
  4. a sharp and sudden increase in billing rates.
  5. across-the-board increases in starting salaries.
  6. re-accelerating revenue growth for mid-sized, multi-partner cpa firms.

in this report, 卡塔尔世界杯常规比赛时间 focuses on employment trends at cpa firms and the accounting sector in general.

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outlook & analysis

tougher competition, tighter margins coming to forensics

u.s. hot spots for forensics accounting and auditing
u.s. hot spots for forensics accounting and auditing, by number of firms and share of nationwide billings (ibisworld via 卡塔尔世界杯常规比赛时间)

fast-growing niche attracting more firms and pushing up staffing costs.

by rick telberg

fueled by demand from new deal-flow in a recovering economy, forensic accounting billings are on track to grow 7% a year through the next five years to $6 billion, according to new data provided to 卡塔尔世界杯常规比赛时间.

to be sure, the growth rate for the next five years represents a marked slowdown from the last five years, but it remains significantly faster than the 2% projected for cpa firms overall.

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outlook & analysis

three political questions that cloud the tax planning outlook

 we’re accountants, not fortune-tellers.

special to 卡塔尔世界杯常规比赛时间

rothstein kass, the new york cpa firm, is advising clients that “looming ahead are many potential changes” with the possible demise of the bush-era tax cuts.  in addition, several other bills are muddying the forecast.

“even the world’s best soothsayer could not predict with accuracy what will happen between now and the end of the 2012 tax year with respect to the tax law,” richard bloom, national leader of trusts and estates, and neil tendler are teling clients in a bulletin.

for example: read more →

outlook & analysis

the end of the circular 230 disclaimer boilerplate

irs revokes part of circ. 230 and adds responsibilities to manager of tax function.

by e. lynn nichols, cpa
special to 卡塔尔世界杯常规比赛时间

in a move some of us knew was coming, but really could not talk about until now, the irs is revoking section 10.35 of circular 230 and has issued proposed regulations that strengthen section 10.37. read more →

outlook & analysis

cpa interstate mobility becomes a reality in all but one of the united states

hawaii last holdout in battle dating to the last century.

by rick telberg / exclusive to 卡塔尔世界杯常规比赛时间

it took 15 years, but cpas can now operate freely throughout the contiguous united states.

california gov. jerry brown has signed into law a bill allowing out-of-state-licensed cpas to work in the state without needing a california license. hawaii is now the last holdout. california’s law takes effect july 1, 2013. and the district of columbia’s law goes into effect today.

it is an historic milestone in a long political struggle fraught with frustrations and setbacks that began with fiery, divisive wars within the profession itself.

more for pro members only read more →

outlook & analysis

billing rates jump sharply at cpa firms

a sign of a full economic recovery for the profession?

pro members: click for details, charts, analysis

by rick telberg
exclusive to 卡塔尔世界杯常规比赛时间

cpa firms are shaking off the effects of years of a fee-cutting death-spiral that halted growth, pinched profits and forced painful staff reductions.

instead, firms are now pushing through some of the most aggressive price increases in years, led by audit services, followed by tax prep, bookkeeping and compilations. read more →

outlook & analysis

a&a update: au-c sections 330, 402 and 450

risks, service organizations and misstatements. [free podcast for pro members]

special to 卡塔尔世界杯常规比赛时间

practical accounting and auditing guidance from the plain-english a&a update service by dr. thomas a. ratcliffe, phd, cpa

au-c section 330: performing procedures in response to assessed risks and evaluating audit evidence obtained

in implementing the clarified auditing standards in calendar-year 2012 and subsequent period audit engagements, practitioners need to have a clear understanding of what is required when performing audit procedures in response to assessed risks and evaluating the audit evidence obtained.

au-c section 402: service organization audit considerations

with the clarified auditing standards, when reporting entities use service organizations to provide services relevant to the audit, practitioners need to have a clear understanding of what is required in considering work performed by service organizations.

au-c section 450: evaluation of misstatements identified

in the clarified auditing technical literature, practitioners have some clear responsibilities related to evaluating the effect of identified misstatements on the audit along with the effect of uncorrected misstatements, if any, on the financial statements.

[pro members: click read more to get the free 10-minute podcast.]

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outlook & analysis

mcgladrey’s big bet on new thought-leadership strategy pays off

click to enlarge. from the slide deck for 卡塔尔世界杯常规比赛时间 pro members

$427,000 in new business tied to web-driven content marketing campaign.

by rick telberg
exclusive to 卡塔尔世界杯常规比赛时间

top 10 firm mcgladrey has taken the wraps off an under-the-radar marketing program that is producing dramatic results and serves as a case study for the rest of the profession.

at a conference in orlando last month, eric webb, senior director of communications & brand, presented a 65-slide case study that shows since this effort began in 2009:

  • 100% increase in web visits per month
  •  300% increase in content production (gross amount of content project)
  •  200% increase in content productivity from writers (measuring the “busyness” of content producers)
  •  60% increase in content promotion
  • 4 new newsletters added to the content marketing mix
  • 5% email clickthrough rate (ctr) and 19% social content ctr

mcgladrey attributes $427,000 worth of business to its content marketing process since july 2011.

“if the website is the center of the universe for all of marketing, the content — especially the original thought leadership type of content — is the cement of that foundation,” webb says in describing the importance of content marketing.

the effort demonstrates the importance of better communication throughout the entire content production process and clear expectations for each content creator.

卡塔尔世界杯常规比赛时间 pro members: click read more to get the details and download the slide deck

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outlook & analysis

2013 trends in starting salaries in finance and accounting

business demand drives hiring, new competition for talent.

special to 卡塔尔世界杯常规比赛时间

fueled by new demand from business clients, cpa firms of all sizes are looking to expand audit and tax practices and pursue new new market segments, according to a fresh report on the accountant jobs market. (pro members: get the full report, courtesy 卡塔尔世界杯常规比赛时间.)

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