plus: top 10 reasons why.
an alarming number of audit professionals are failing to leverage modern data analytics techniques to uncover financial fraud, according to preliminary results from a new survey by auditnet, a clearinghouse of resources for auditors.
which tools are auditors using to uncover fraud today?
join the survey; get the results.
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.
new workflows require new labor models.
by steve erickson
steve erickson llc
i have been giving quite a bit of thought to the cost/price squeeze facing many cpa firms. salary and benefit costs are at an all time high as a percentage of net revenue and profit margins have been decreasing for a number of years.
practitioners and experts seem to agree this coming tax season should be markedly better than last year’s.
and last year, for most, was better than the year before. we caught up with a few of the best-informed people in the business at the 2011 cch user conference.
click on this video to start the playlist:
david primes, cpa.citp and a longtime technology trailblazer in the profession, talks about what’s next in mobile capabilities for cpas. we caught up with him at the 2011 cch users conference. as a speaker and consultant on computer topics, primes … continued
cch president and ceo mike sabbatis calls on the profession to brace for the challenges ahead by adopting “future-ready” processes today.
most tax and accounting firms are falling behind in their operating practices and processes, according to a new survey.
and, astoundingly, they know it and admit that it may take them years to catch up.
iphone and ipad users can click here; androids here.
via cch
cch is launching a free tax news highlights app for iphones, ipads and android devices
the app was spearheaded by cch’s newly formed agile publishing solutions team, a rapid development prototype team.
for now, the cch tax news highlights app focuses solely on the most up-to-date federal and state tax news headlines – available at the touch of a screen icon. the app has the ability to grow into a much larger information content source designed for professionals, educators and students for all relevant tax and accounting news.
high performing firms continue, year after year, to experience measurable increases in productivity, by a margin of 6-to-1 over low-performing firms
it’s the best time to learn the tough lessons to apply next year.
with busy season a frenzy, most professionals keep their heads down and their noses to the grindstone.
but if you’re in management, you can’t afford to waste the once-a-year opportunity to take notes on what’s working, what’s not and what to do about it before the next busy season.
with that in mind, roman h. kepczyk, cpa.citp, lists seven tech tends to watch: read more →
technology isn’t new. but the pace of change is.
and it’s adding new stresses to cpa firms every day, according to l. gary boomer of boomer consulting.
the impact can be seen — and felt — in how firms attract, retain, nurture and leverage talent, he tells the cpa leadership institute. staffing takes on a whole new meaning when it’s done within a firm-wide culture of continuous learning and improvement.
here’s how: read more →
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 →
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?