10 reasons clients don’t pay, and what to do about it

excuses, excuses, excuses.

question: i always have large amounts owed to me from clients.  is there anything i can do about this?

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

— rick telberg
president / ceo

ed’s response:

absolutely!  my feelings are that large a/r balances are your fault.  accounting fees are almost never material to a business’ cost structure, but letting fees pile up can make them somewhat material.

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answers to six of the biggest questions in non-profit governance

charlie tate
charlie tate

firm finds many non-profits lag in adopting irs recommended practices.

tate & tryon, one of the leading firms in washington, d.c.’s, bustling non-profits market, says in a new study that many nfps are failing to fully embrace the good governance practices that the irs is looking for.

the firm extracted data from 400 form 990s to compile the three-year trend study, which is being pushed to prospects and clients as part of the firm’s branding efforts.

but the findings could be relevant to many accounting firms with 990 clients, as well.

managing partner charlie tate, who for 25 years has run the namesake firm of now 10 partners, says the study is more than a marketing tool. it’s an advisory tool with benchmark indicators for nfp boards and executives. “anytime you have a board member who sees something and says something like ‘everybody is doing it this way,’ well, now, you have a way of saying, yes, maybe many boards do it that way, but a lot do it another way,” tate says.

tate says the firm chose those “metrics that tended to be topics that were most frequently discussed during client board meetings that we attended.”

for example:

  1. do all exempt organizations have unrelated business income?
  2. how would our operating and investment performance ­ compare were we a for-profit?
  3. should we provide a copy of the form 990 to the full board?
  4. should our ceo’s compensation be reviewed by an independent body based on comparability data?
  5. should we use the same review process for other officers or key employees?
  6. should we post our form 990 on our website?

the firm reports it’s findings:

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my attitude??? what’s wrong with my @#$%! attitude?

nick keseric
nick keseric

six good things than can happen with the right attitude.

by nick keseric
mpscpa.com

attitude. how can something so elusive and ever changing be so instrumental and impactful in how we behave in our daily lives? i think there is some truth to the theory that people can be born with a good attitude.

have you ever tried to force yourself into a positive or happy attitude while you are in a grumpy foul mood? las vegas has that happening at the same odds as waking up a 14 year boy at 5:30 a.m. for diving practice during their summer break and finding them in a good mood along with a good attitude. (i know that drill first hand.)

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is business too good for your own good?

business is good, but cpas say the workload never eases up.

by rick telberg

cpa across all areas of the profession this summer are confirming the best hopes and worst fears that the profession felt when the year was beginning. yes, business is up across all sectors and should continue to improve, especially for public practice firms, but there are not enough people to handle the work.

our readings are showing that two-thirds of cpas in all sectors of the accounting profession are enjoying better business than last year. asked to look 12 months into the future, roughly the same number expect their business conditions to be even better, although members in public practice are slightly more optimistic than members in business and industry.

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accounting sector shrinks by 4,200 jobs

marking the fourth consecutive month of decline, the bookkeeping and accounting industry contracted in june, shedding 4,200 full-time employees from may, ending at total employment of 954,800 workers and professionals, according to new data available to 卡塔尔世界杯常规比赛时间. still, june’s … continued

can you be trusted as a leader?

dan mccarthy

20 signs you can’t.

if paychex inc. knows something about leadership — and considering their position in the market, they might — then dan mccarthy may have had something to do with it.

dan was responsible at paychex for executive training and development, including succession planning, at a time when the company was consistently named a fortune magazine “great place to work,” a “training magazine top 125” training organization, and a bersin “high impact learning organization.” since 2011, he’s been director of executive development programs at the whittemore school of business and economics at the university of new hampshire in durham, n.h.

lately, he’s been thinking — and worrying — about the difficulties that leaders and managers face from the effects of the great recession. “job satisfaction has decreased since the beginning of the recession in 2008,” he notes. and 卡塔尔世界杯常规比赛时间 research by bay street group llc bears him out in the tax and accounting industry.

some of the damage may be self-inflicted. here dan lists “20 signs you can’t be trusted as a leader:” read more →

the 15-minute a&a update: beware fraud issues in ebp audits, and more

also in the latest 卡塔尔世界杯常规比赛时间 plain-english a&a podcast:

au-c section 265:  communicating internal control related matters – when practitioners are implementing the clarified auditing technical literature at the end of this year, some new guidance associated with communicating internal control related matters identified in audit engagements needs to be addressed.

employee benefit plan audits:  considering the fraud issues – when practitioners are performing audits of employee benefit plans, it is important to remember that there is a potential for fraud that could result in financial statements being materially misstated.

compilation & audit reports:  some new guidance – the aicpa has released some helpful implementation guidance addressing compilation reporting issues in two areas, business valuation engagements and independence matters, and there also is some guidance that might be considered when audit reports need to address going concern issues. 

learn more about the full 卡塔尔世界杯常规比赛时间 plain-english a&a service.

click “read more” for the full 15-minute podcast…

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audit fees edge up 5% at biggest companies

public companies now pay an average of $3.9 million per year.

big four firms seem to be finding difficulties in boosting billables to their biggest audit clients, as the clients themselves hammer hard on costs and take on more work internally, according to a new study. on the other hand, the average tenure of a cpa firm is now about 20 years per client.

companies are reporting only modest increases in audit fees and total hours worked from the year before.

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