seven smart ways to make this your best tax season ever

how to make tax season work for you and not just your clients.

by ira s. rosenbloom, cpa

tax season is a fantastic business cycle for accounting firms but too few leverage all of their hours to capitalize on its value. the time has come to maximize the value of tax season and make this your best tax season yet.

here are seven vital agenda items to achieve the kind of success you deserve: read more →

a&a report: accounting for long-lived assets; au-c section 520; planned nonattest services changes

[free podcast]

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

executive summary:

 accounting for long-lived assets: addressing impairment issues

when events or changes in circumstances indicate that carrying amounts of long-lived assets might not be recoverable, it is important to remember that these assets need to be evaluated to determine if impairment losses should be recognized.

au-c section 520: analytical procedures

as auditors implement the clarified auditing technical literature in calendar-year 2012 and subsequent period engagements, they need to understand and implement new guidance associated with use of analytical procedures in audit engagements.

planned nonattest services changes: preparing statements

both the aicpa professional ethics executive committee and accounting and review services committee have exposure drafts with comments due by the end of november where the plan is to include preparation of financial statements under the umbrella of nonattest services performed for clients.

click read more to get the free 10-minute podcast. read more →

cloud & mobile technologies drive change in tax and accounting

pro members: get the full 28-page report instant download.

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cloud and mobile top the list of emerging technologies transforming the tax and accounting profession, according to a new cch survey.

pro members click read more to download complete report

“we’re now at a point where all the benefits that have been talked about from emerging technologies are here – firms using these technologies today are seeing tremendous benefits in productivity and the value they can deliver to clients,” says kevin robert, president and ceo for wolters kluwer tax and accounting, which runs cch.

complete conference coverage: cloud & mobile technologies drive change in tax and accounting  |  how apple is changing your business  |  10 ideas to keep your firm moving forward  |

according to professionals surveyed, improved client service is the driving force behind their adoption of these emerging technologies, along with improved productivity and profitability.

pro members get the full 28-page report instant download:

read more →

the real election day winners? accountants

what the election means for busy season:  join the survey, get the answers.

by rick telberg 

the re-election of president obama may sweep away a few uncertainties in tax and economic policies that have been stymieing business decision-making. but it also sets the stage for a very busy busy-season, complete with last-minute changes in code and forms.

and i’d be surprised if the partisan gridlock in congress suddenly loosens. read more →

the three degrees of risk

r-i-s-k: it’s amazing that so simple a four-letter word can be so complicated. by bruce w. marcus professional services marketing 3.0 there are risks with dire consequences and risks with negligible consequences. there is risk in every human enterprise; in … continued

his and her brains at work in tax and accounting

three things that are different.

by sandi smith, cpa
accountant’s accelerator

are men’s and women’s brains different, when it comes to the workplace? the answer is a resounding yes, and more importantly, science is finding that men and women work differently. when a woman works like a man does, her health suffers

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间: 5 mistakes to avoid when seeking new clients the top 12 business card blunders accountants make seven tips to keep the clients you have how to attract clients like a magnet eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

here are three things that are different in men’s and women’s brains. read more →

10 good ways to achieve partner accountability

remember: strong levels of partner accountability lead directly to higher levels of firm profitability.

by marc rosenberg, cpa

accountability. a word that strikes fear (unnecessarily, i might add) in the hearts of partners.

we see this constantly in the free-agent age of professional sports. athletes sign a lucrative, long-term contract, and promptly start producing less. partners in firms are no different.

marc rosenberg
marc rosenberg

more marc: pick your partners right to begin with  •  the first nine questions your partner team needs to embrace for optimal profitability  • profitability and the value of strategic thinking  • the five essential building blocks for creating a strong accounting firmthe seven signs of great leadership in a cpa firmcompensation issues for the new managing partner  • 20 decisions for your firm’s new partner compensation committee  • three ways to break partner gridlock in an accounting firm  • what partners are entitled to, and what they’re not entitled to | how to make partner?  • why accounting firm partners are “popping prozac like m&m’s”

here are 10 good ways to achieve partner accountability. every one of these measures is time-tested and works well. some work better for some firms than for others. the key is not simply to provide for the accountability measure, but to do it well. read more →

what do you think you’re doing?

effective management doesn’t just happen.

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.

browse more from ed here: are partner retreats really worth the cost? | audit reports without doing the work? | should i really spend the time making checklists? | what’s a tax practice worth today? | preparing to sell your practice in a few years? 13 things you need to know today | 10 questions to ask yourself before you decide to add financial services to your practice | why selling your practice is not a retirement strategy | congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die

question: sometimes i get stuck doing work that the client did not ask me to do, that is not chargeable and simply a waste of time, but i get trapped (by myself). any words of wisdom to avoid this? read more →

what new accounting grads want from your firm

survey of college professors provides clues for successful recruiting.

internships and social networks speak loudest when new college accounting graduates weigh their first jobs offers, according to a new public accounting report survey obtained by 卡塔尔世界杯常规比赛时间.

the study ranks the relative importance of factors to students when choosing a job offer, including:

  • access to latest technology
  • compensation and benefits
  • desirable location or geographic base
  • long-term career opportunities
  • technical reputation
  • the firm’s long-term business outlook
  • the firm’s quality of life in terms of an employee-friendly environment
  • whether the offer is from a big four firm
  • workplace diversity

and the survey reveals the companies and cpa firms soon-to-be graduates are hoping to join:

  • a company in private industry
  • any big four firm
  • any top 25 firm
  • a local firm
  • bkd
  • deloitte
  • e&y
  • grant thornton
  • kpmg
  • pwc

the survey also shows how many undergrads have actually worked in a public accounting firm before graduation, and the top 10 corporations would recommend as employers. but the most closely followed part of the survey are the rankings  of the top 25 undergraduate accounting programs.

the responses are tabulated in the following charts with analysis by the survey’s author:

read more →

the accountants’ first look at microsoft surface

microsoft ceo steve ballmer introducing the surface tablet

and the plethora of new tablets. 

by randy johnston 
network management group 

randy johnston

microsoft surface has shipped, and i was one of the lucky people to get one of the very first units. we are going to see many new tablets released this fall including the ipad mini, which i have on order ($634.99), as well as the new ipad4 and replacements for the google nexus7 and samsung galaxy tab 2 that i own, like and use. the tablet operating systems, usability and applications improve daily. i am the most productive on a tablet with a keyboard, but that may not be true for you. my skin type requires touching a screen multiple times for the touch to be recognized. for example, it is normal right now that i have to touch my iphone 5 2-5 times for each character i type. this past friday, i counted 17 touches to type a single letter. interestingly, though, is that the microsoft surface has not required me to touch the screen multiple times. i’m not sure if there is a technology difference that makes this touch actually work, or if it is something else, but it is fun to have a correctly working touch surface!

it is helpful for you to know that i have used every apple ipad and every apple iphone since release. i “get” how apple’s technology is supposed to work.

for business purposes, the microsoft surface may be a better product.
but should you wait?

read more →

the power of deadlines in closing a deal

headache or dream come true?

by sandi smith, cpa
accountant’s accelerator

in the accounting profession, there are a ton of deadlines. month-end, quarter-end, and year-end. payroll taxes, sales taxes, and corporate taxes. and extension deadlines, filing deadlines, and payment deadlines, to name just a few.

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间:  on the road to a stress-free life: identify your character strengths •  the missing ingredient in your marketing that will make all the difference •  3 steps to start running on millionaire time  5 mistakes to avoid when seeking new clients the top 12 business card blunders accountants make seven tips to keep the clients you have how to attract clients like a magnet eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

all of these deadlines may be a headache to business owners and accountants alike, but they are a marketer’s dream come true. how can you use deadlines to your advantage in marketing your services? and what if you are selling a service that is not in the accounting profession? keep reading and we’ll answer these questions and provide you with five ways to woo your prospect with deadlines. read more →

when is it best for partners to stay together and when is it best to part?

making the partnership work seven ways to sunday.

by marc rosenberg, cpa

sometimes a parting of ways is best because the partners are simply incompatible. people change. their values change. their priorities change. when these changes become so huge as to produce constant conflict, it may be best to shake hands and part ways.

more marc: pick your partners right to begin with  •  the first nine questions your partner team needs to embrace for optimal profitability  • profitability and the value of strategic thinking  • the five essential building blocks for creating a strong accounting firmthe seven signs of great leadership in a cpa firmcompensation issues for the new managing partner  • 20 decisions for your firm’s new partner compensation committee  • three ways to break partner gridlock in an accounting firm  • what partners are entitled to, and what they’re not entitled to | how to make partner?  • why accounting firm partners are “popping prozac like m&m’s”

what does it take for partners to stay together?

here are seven critical requirements: read more →