good-bye annual budget. hello rolling forecast

via cfo.com

world moving too fast to plan even a year ahead.

so an increasing number of companies are abandoning the age-old tradition of annual budgeting and adopting instead a system of constantly updated forecasts. they call them rolling forecasts, flexible budgets, or event-driven planning. but they aren’t annual budgets.

cfo.com  cites as examples: unilver, norton lilly international, statoil, and american century investments. “meanwhile, other companies continue to execute a budget but, for the most part, manage the business without it,” russ banham reports. “call it a sign of the times, literally.”

read more →

seven secrets of high-performing cpa firms

stuff you can use today.

accountingweb (where you’ll find “over 23,000 pages of accounting passion and insight”) has added the creators of the seven keys to successful cpa firm management to it’s cadre of bloggers.

in the first post — today — jean caragher and rick telberg write: “in this newly competitive environment, the difference between success and failure can pivot on the smallest competitive advantages.”

the research shows, for instance, seven important take-aways you can use today…

read more here: accountingweb.com

10 ways to recruit & retain the best talent

steve erickson
steve erickson

rule 1: deliver a consistent message.

cpa and consultant steve erickson offers 10 tips to help firms in hiring and retention:

  1. increase focus and efforts. make recruiting a year-round focus, engaging both
    partners and employees in the process.
  2. build an employee referral network. use it to find employees and offer your expertise to other accountants while spreading the word about the profession through speaking and writing engagements. focus on reciprocity–make referrals for other firms and don’t burn bridges. read more →

10 global mega-trends for this year’s partner retreat

as busy season ebbs into memory and accounting firms start looking toward the future, top managers will be confronting a host of difficult issues.

by rick telberg

many of the most pressing issues are close to home — winning a few more big clients, nurturing succession, finding adequate capital to reinvest in the business. some other issues, however, may seem more abstract. they are, to be sure, no less real.

a host of global trends are conspiring to make this year’s retreat season just that much more complicated for accounting firm leaders.

here are 10 top global trends that are rushing headlong toward the american accounting firm industry: read more →

accountant job confidence dips

although workers gain confidence in the economy, more see job opportunities narrowing.

job confidence among u.s. accounting and finance workers dropped 4.0 points to 52.1 in the first quarter of 2011, according to mergis group, the sfn-owned placement agency.

more highlights: read more →

software cfos expect cloud computing to drive their industry’s growth

leaving the recession behind with new hiring.

software company ceos and cfos say in a new survey that cloud computing and software-as-a-service will drive spending in their industry over the next 12 months.

the survey also finds most expect their company’s business will grow by at least 20 percent in 2011 and that hiring will increase significantly. the software ceo/cfo outlook 2011 study was conducted by sand hill group and underwritten by adaptive planning and intacct.

other key findings include: read more →

technology raises the bar: four things accountants must do to keep up

dustin lubertazzi

principles of accounting remain unchanged, but…

by dustin lubertazzi,
senior consultant, sageworks, inc.

luca pacioli, an italian mathematician and franciscan friar, is widely known as the “father of accounting” for publishing 36 chapters on the double-entry accounting method used by venetian merchants during the italian renaissance. his book, summa de arithmetica, geometria, proportioni et proportionalita (which translates, “everything about arithmetic, geometry and proportion”), was written as a textbook for students in northern italy at the end of the 15th century. pacioli’s documentation of double-entry accounting and ledgers taught entrepreneurs of the day how to conduct business using timely and accurate financial information, and it established the fundamentals of accounting still practiced today.

pacioli’s fundamentals were only feasible thanks to the written numeral system and the abacus developed before that. and since then, the industry has seen further and more ground-breaking developments including the introduction of the typewriter, then computers, and later the internet. with each of these milestones, technology not only impacted how accountants handle financial information but also how they interact with their clients.

with the changing technological landscape, what must accountants do to stay competitive in the future, and how will technology change the future role of the accountant?

read more →