An Audit Does Not And Should Not Have To Be Painful

I recently had a lengthy conversation with one of my most valued clients, confidants and friend.  I was dreading having such a conversation since I new ahead of time that it would not be a delightful exchange.  I also knew that my Team and mostly me had been a disappointment.  And we all hate to […]

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U.S. Economy Grew 3% in 2nd Quarter, Fastest Pace in 2 Years

U.S. Economy Grew 3% in 2nd Quarter, Fastest Pace in 2 Years By NELSON D. SCHWARTZ AUG. 30, 2017 There are several reasons that his goal is probably far-fetched, namely the country’s aging work force and slower population growth than in the past. Combine that with low productivity growth, and hitting Mr. Trump’s target begins [...]

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Switching to the Cloud

Is it worth making the switch? Cloud computing has gained a lot of momentum over the past few years, which is not surprising especially since it allows companies to streamline their processes, resulting to increased efficiency and productivity. In addition, doing business in the cloud can significantly reduce operational costs and make pertinent information easily […]

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Social Media: Ten Things Accountants Should Not Do

If you’re an accountant who has been experimenting with social media, this article is for you. It will be of particular interest if you’ve been disappointed by your social media experiences. And you aren’t alone if you started out with unrealistic expectations or misunderstood how social media works. I’ve been enjoying my use of social […]

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Groups weigh in with SEC on PCAOB audit report standard

Accounting and financial firms and business groups are sending comment letters to the Securities and Exchange Comment ahead of a deadline Friday for approving a new standard from the Public Company Accounting Oversight Board on expanding the scope of audit reports. In June, the PCAOB voted to approve a new standard that would significantly change […]

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How to Prepare Your Firm for a New Generation

For the past several years, accounting firms have faced a leaky bucket in terms of staffing. While firms are currently growing—the latest AICPA survey estimates that more than 60 percent of firms are planning expansions—many face a talent shortage. Now comprising the largest segment of the workforce, the tech-savvy Millennial generation stands to fill the […]

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Voices Art of Accounting: Myopic millennial management

A big topic among firms is how to manage millennials. Somehow we believe they are different. However, looking back through the years I do not believe the problem is how to manage the millennials; rather it is the myopic firm managers who need better management techniques. Firms talk about how great they are to work […]

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Th Accounting Firm’s Sustainability Index

How sustainable is your firm? Meaning, if the Partners were not there, how would it perform? Would it make money? Would it lose money? Could it continue to grow without you? Here’s a simple but sobering equation: Take Partner revenue delivered (your personal billable time / dollars) away from your profit (before Partner salaries) and […]

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GASB establishes new approach for reporting leases

GASB established a single approach to accounting for and reporting leases by local and state governments in a new statement issued Wednesday. GASB Statement No. 87, Leases, is based on the principle that a lease finances the right to use an underlying asset. The standard offers guidance for nonfinancial assets, including vehicles, heavy equipment, and […]

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