m&a trend: from ‘manic’ to ‘panic’

the pace will only accelerate.

by rick telberg

if you thought the pace of shakeout and consolidation among accounting firms couldn’t get any more frenzied, then just wait ’til next year.

when all the deals are tallied, the year could well have hit new highs in mergers and acquisitions in some markets, including new york, florida, california, texas and illinois. now those same markets seem poised to step it up a notch.

to one ceo of a regional firm based in the northeast, the pace has gone beyond busy, to frenzied, to manic and, now, in his word, “panicked.” and he expects the trend to accelerate.

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success formula 2011: turning complexity into opportunity

to flourish in this increasingly difficult climate, ceos are looking for creativity in their executive teams and advisors.

in fact, the authors of a vast new ibm survey of 1,500 ceos across the globe say top executives now believe creativity rivals integrity as the single most important quality in a leader.

“creative” leaders will need to be more comfortable with ambiguity and experimentation. to motivate and communicate with a new generation of followers and stakeholders, they will need to embrace, in the words of one unnamed professional services ceo in the u.s., “disruptive innovation and continuous re-invention.”

the new mission of tomorrow’s top leaders will be two-fold:

1.    reinvent customer relationships – 84% of u.s. ceos say “getting connected” to better understand, predict and give customers what they really want is their top priority. that’s somewhat less than the global average. ibm suggests that some u.s. ceos may be “failing to capitalize fully on the customer data they collect.”

2.    build operating dexterity – 36% of u.s. ceos are focusing on simplifying their products and operations, chiefly, it seems, through continued cost-cutting. some 64% of u.s. ceos “are intent on reducing their fixed and increasing their variable costs, so that they can rapidly scale up or down.” in most other nations, ceos are emphasizing re-thinking their systems over continued cost-cutting.

ignoring complexity is no longer an option for ceos, cfos and other finance and accounting professionals. will you allow complexity to strangle improvement, crush morale, or undermine profitability?

the bottom-line question is how will you and your organization respond? how will you develop “the creative leadership, customer relationships and operating dexterity” to turn complexity into a competitive advantage?

what your clients want in 2011

a survey of the world’s top ceos provides clues to the bottom-line needs and expectations of companies and clients.

by rick telberg

finance and accounting professionals may be unprepared for a world of increasing complication in 2011 unless they can learn to be more entrepreneurial and innovative than ever before.

the risks of failure, as we’ve seen from the banking debacle, remain real and ever-present.

at the root of the problem is a world of global inter-connectedness, according to a new ibm survey of 1,541 ceos, general managers and senior public sector leaders, including 290 respondents in the u.s. the common factors are the issues and problems of worldwide integration.

the study provides a roadmap for some of the biggest challenges and opportunities in the coming new year and rare insight into the concerns, wants and needs for people like your boss or your clients. to be sure, ibm is addressing the effectiveness of physical and digital infrastructures. but any cpa or cfo understands immediately and intuitively the meaning for finance an accounting.

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going global: six strategies for local cpas

bob bunting

savvy u.s. accountants are on the brink of huge new opportunities. will you be one of them?

by rick telberg

the accounting profession — not just in the u.s., but worldwide — faces new opportunities for growth and success unlike few times in history, according to one of the industry’s world leaders. but it will require savvy strategy, swift action and hard work to profit from the trends.

across the globe, small- and medium-sized enterprises (smes) are hungry for more than just tax preparation and financial statements, according to bob bunting, president of the international federation of accountants (ifac) since november 2008. they want more. and bunting can name half a dozen potentially winning strategies.

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payroll isn’t for amateurs [video]

surepayroll launches really cool video ads.

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surepayroll has launched “extreme payroll stories,” a contest that awards participants with free payroll services for sharing their stories about how they’ve processed payroll under extreme circumstances.

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of course, the real news with surepayroll today is the $115 million deal with paychex. we hope that doesn’t stop surepayroll from producing more cool ads like these.

19 rules for success and happiness in today’s accounting office

what’s the best piece of advice you’ve ever received? tell us in comments.

good advice is hard to find. so when you come across something that’s true and that works in almost any situation, it’s better than good. it’s golden. here, then are 19 golden rules for succeeding in the accounting business, and maybe business in general.

some are corny, or obvious, or just common sense. in today’s accounting workplace, common sense sometimes seems, well, not so common.

the list:

1. become part of the solution, not part of the problem.

2. manage your own morale.

3. hold yourself accountable for all results.

4. you can never delegate responsibility, you can only delegate accountability.

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busy season confidence wanes as congress dawdles, economy stumbles

in september, only 17% of accountants predicted a tougher season than last year’s. by december, the number had risen to 28%.

q: for you personally, how do you expect busy season 2011 to compare to the 2010 season?

accountants looking ahead to the impending busy season have been losing confidence through december as congress haggles over tax measures and the economy remains lifeless.

what are you expecting for busy season?
how are cpas planning?

click here to join the survey; see the detailed answers.

the economy and last-minute tax code changes remained the chief concerns. but as the start of the season approaches, worries about “setting aside enough time to plan” also rose to 24% of respondents from 19%.
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accounting marketing survey: 60% of cpa firms surge into social media

linkedin leads with 76% of firms involved.

via aam

a new study by the association for accounting marketing finds that approximately 60% of the firms surveyed are participating in social media and 43% have written social media policies to guide employees and govern its use.

linkedin emerged as the leading application used by accounting professionals with 76% of firms using linkedin and of those not using linkedin, 60% have a plan to establish an account.

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the facebook factor for cpas

michelle golden

how social media marketing strategies can level the playing field for small firms and career-minded professionals.

by rick telberg

facebook, linkedin and twitter are ushering in a new age of opportunity for tax, accounting and finance professionals, but only if they are savvy and progressive enough to seize the advantages, according to one of the profession’s most seasoned and visible advisers.

the technologies and tactics of new social media marketing can provide cpas with never-before-seen avenues for connecting with clients and colleagues, competitors and peers, says michelle golden, the author of the aicpa pcps social media toolkit, and now the new book “social media strategies for professionals and their firms,” with an introduction by bruce w. marcus, a marketing legend in his own right.

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ifrs fuels m&a frenzy [video]

savvy firms bulk up on new expertise.

now is the time to gain the competitive advantage, according to cecil nazareth, cpa and ca, at ifrs partners.

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as u.s. gaap and ifrs move inexorably toward convergence, nazareth tells firms “you can market yourself across the globe if can practice both gaap and ifrs.”

aicpa cfo survey: optimism trends higher

but no recovery until 2012.

via aicpa

after a dramatic drop last quarter, cpa executives regained modest optimism in the past three months about prospects for the u.s. economy but believe the recovery will be slow and they are cautious about plans for expansion and hiring, according to the latest aicpa/unc quarterly economic outlook survey.

twenty-eight percent of cpas serving in executive positions expressed optimism about the u.s. economy in the fourth quarter, up 7 percentage points from 21 percent who were optimistic in the third quarter. pessimists were 29 percent, a decline of 11 percentage points from the prior quarter. most cpa executives, 43 percent, were neutral on the economy. a majority of 61 percent do not expect business conditions to return to pre-recession levels until after 2012.

more highlights: read more →