a&a bulletin: new aicpa audit risk alert

plain-english accounting bi-weekly report by dr. tom ratcliffe, ph.d, cpa plain-english accounting the accounting and auditing issues that are discussed in this bi-weekly report are as follows:   peec adopts revisions to the code of professional conduct — the aicpa professional … continued

how to make your firm a success magnet

fligel

learn what it takes to attract the best talent and merger partners.

by robert fligel, cpa
rf resources llc

for many in the cpa business, organic growth is going to be very slow for the next several years. so, cpa firms seeking growth are:

  1. making strategic mergers or acquisitions, or
  2. bringing in new partners or groups of partners with strong books of business.

but how do you position your firm to be desirable to merger partners or new talent?

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bbq’ing the billable hour

would you buy a pulled-pork sandwich if it was priced by the hour? at aries technology, a sage software reseller, they wouldn’t recommend it. that’s why they’re going to market with an aggressive value-pricing strategy. via ariestech.com

cpa cfos see slight spending increases ahead

but no new hiring.

via aicpa

the outlook for the u.s. economy improved in the fourth quarter, but broad pessimism about the progress of a recovery persists, according to the fourth quarter aicpa economic outlook survey, which polls chief financial officers, controllers and certified public accountants in executive and senior management accounting roles.

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benchmark 1040 fee flattens out at $233

rates up only $4 in two years for “main street” firms.

most tax professionals will be charging an average of $233 for a typical itemized return this year, relatively unchanged since the beginning of the recession, according to a new survey of national society of accountants members.

the new $233 benchmark represents barely a $4 increase in the two years since the last biennial survey, when accountants posted a 10% advance from the 2007 poll, which followed a scant 2% gain from $201 in 2005.

the survey of nearly 8,000 tax preparers by the nsa found that the average fee for preparing an itemized form 1040 with a schedule a and a state tax return cost taxpayers only $233 this year. rates for non-itemized returns are also largely unchanged at $128 for a form 1040 and state return without itemized deductions.

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considering some accounting issues in llcs

by dr. tom ratcliffe, ph.d, cpa plain-english accounting reporting entities frequently are formed as limited liability entities, particularly limited liability companies. while much of the accounting authoritative technical literature used in financial reporting by llcs is the same literature used … continued

bookkeeping: the next dinosaur for cpa firms?

patrick bonnaure
patrick bonnaure

learn a lesson from how the payroll market evolved.

 by patrick bonnaure
www.proledge.com

twenty years ago, the vast majority of accounting firms provided payroll to their small business clients. then came payroll specialists like paychex and adp, and the rules of the game changed. nowadays, if your firm provides payroll, you’re the exception. bookkeeping is following the same trend, with a lag of a couple of decades. if your accounting firm is providing bookkeeping, it is time to look at it strategically and understand how it fits in the bigger picture.

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