Archive for the ‘News’ Category

Wednesday, November 15th, 2017

Xcentric

“All you need is the plan, the road map, and the courage to press on to your destination.” – Earl Nightingale

I’m sure by now you have heard the news – Right Networks has acquired Xcentric. You can read all about it here via Accounting Today.

Xcentric has been a prominent player in helping CPA firms with cloud solutions. I know that many of you have visited with them at CPA management conferences year after year and have enjoyed presentations by Roy Keely and Roman Kepczyk of Xcentric.

Many of you are also clients of Right Networks. Last week, I enjoyed a conversation with Michael Ferrigno, Content Marketing and Channel Enablement Manager with Right Networks.

Today, I thought I would share some information from Michael – The Top 5 Reasons Right Networks Customers Cloud-Enable Their QuickBooks Desktop.

The Right Networks and Xcentric combination should be an interesting marriage.

 

  • The power of imagination makes us infinite.
  • John Muir

Tuesday, November 14th, 2017

Programs to Advance Women to Leadership Roles in CPA Firms Seen as Bolstering Talent Acquisition, Survey Finds

“Women who seek to be equal with men lack ambition.” – Marilyn Monroe

Here’s a recent press release from the AICPA. Since “women in accounting” are very important to me, I wanted to be sure to share this with my readers. I have bolded some points that were important to me.

CHICAGO (Nov. 9, 2017) – U.S. CPA firms that use advancement programs for promoting women to leadership positions overwhelmingly view them as effective tools in recruiting and retaining talent, according to new research by the American Institute of CPAs (AICPA).

Mentorship is by far the most popular advancement program, with 45 percent of firms using it, the 2017 CPA Firm Gender Survey found. Sponsorship, in which influential firm leaders take a more formal role in guiding promising employees to career opportunities, professional development and promotions, is used by 12 percent of firms.

“There are two important takeaways here: 1) firms that use these programs have seen a beneficial impact on attracting and retaining talent,” said Melissa K. Hooley, CPA, CGMA, chair of the AICPA Women’s Initiatives Executive Committee. “And 2) firms that are taking active steps to promote women and minorities likely will have a competitive advantage when it comes to securing talent.”

Advancement Program

Percentage of Firms Using It

Of That Group, Those Who Say It Has an Impact on Attracting or Retaining Talent

Mentoring

45%

87%

Sponsorship

12%

97%

Gender Initiative

11%

85%

Minority Initiative

2%

90%

Combined Diversity & Inclusion

6%

90%

Women comprise nearly half of all accounting graduates entering the profession, but remain underrepresented at the partnership level and other leadership positions. The survey shows little change in this area from studies done in years past, which have typically found less than one-quarter of the partnership ranks made up of women. As was the case two years ago – the last time the CPA Firm Gender Survey was conducted – the percentage of women partners was found to be highest at smaller firms.

Firm Size

Percentage of Women Partners

Two to 10 CPAs

42% (43%*)

11 to 20 CPAs

30% (39%)

21 to 99 CPAs

26% (27%)

100+ CPAs

21% (20%)

*Results in parentheses from 2015 CPA Firm Gender Survey

Among other findings of the survey:

  • An analysis of job titles found that women maintained parity or better with men in CPA firms through the senior manager level, after which the ratio declines
  • The larger the firm, the greater the gender gap in equity ownership
  • Only 47 percent of firms have a succession plan and only two percent have a formal gender component in those plans
  • Some 89 percent of firms say they have instituted some form of modified work arrangements, with flextime and reduced hours being the most prevalent

Survey methodology:  The CPA Firm Gender Survey was conducted online by MKTG Incorporated for the AICPA’s Women’s Initiatives Executive Committee from Aug. 3 to Sept. 11, 2017. Some 492 qualified respondents, drawn from CPA firms of varying sizes and regions within the United States, participated.

For more information about gender initiatives and other resources, visit aicpa.org/womenlead.

  • Because I am a woman, I must make unusual efforts to succeed. If I fail, no one will say, “She doesn’t have what it takes.” They will say, “Women don’t have what it takes”
  • Clare Boothe Luce

Thursday, October 19th, 2017

When Women Win, CPA Firms Win

sageworks-squarelogo“Intelligent people can always come up with intelligent reasons…. to do nothing.” – Scott Simon

Save the date – Thursday, November 2, 2017 – 12:00-1:00pm.

Join me and your peers for a special webinar sponsored by SageWorks, titled: Women In Accounting: Thriving Now and Into The Future.

This is not a webinar just for women. Times have changed. Flexibility and work/life balance is a societal and generational issue. Families need flexibility.

Men in the CPA profession have a huge role in attracting and retaining talented female accountants. Yes, there is a lot for females to know and understand. The same goes for males. After all, in addition to female employees, many of your firm’s new clients are, and will be, female business owners.

Times have changed. Women in accounting, prepare yourself for the future!

Learn more here and get registered.

  • Companies used to be able to function with autocratic bosses. We don't live in that world anymore.
  • Rosabeth Moss Kanter

Friday, October 13th, 2017

Resource For What You Need To Know About Tax Reform

“I am still learning.” – Michelangelo

Here’s an opportunity for CPAs to learn more……

What You Need to Know About Tax Reform

AICPA’s Oct. 18 Webcast Will Cover Proposals, Politics and Prospects for Passage

Washington (Oct. 12, 2017) – The American Institute of CPAs (AICPA) is offering a tax reform webcast on Wednesday, Oct. 18 from 1 p.m. to 2 p.m. EDT.

The audio webcast features Edward Karl, CPA, CGMA, AICPA vice president of taxation, and Melissa Labant, J.D., CPA/PFS, CGMA, AICPA director of tax policy and advocacy.

Entitled Tax Reform: What CPAs Need to Know, the webcast is intended to brief participants about the latest tax reform developments and prospects for passage.

One CPE credit is available for the webcast.  It is $59 for AICPA members and $69 for non-members.  Group registration is also available.  Those interested may register at http://tinyurl.com/y9q9nd8n

  • Education is not the filling of a pot but the lighting of a fire.
  • W. B. Yeats

Thursday, October 5th, 2017

Managing Partner Elite

“Successful people begin where failures leave off. Never settle for ‘just getting the job done.’ Excel!” – Tom Hopkins

This year’s managing partner elite has been announced by Accounting Today. Congratulations to all.

Here’s the list:

  1. Wayne Berson – BDO
  2. Jeff Bickel – Tanner
  3. Dawn Brolin – Powerful Accounting
  4. Kevin Keane – PKF O’Connor Davies
  5. Ted Mason – LaPorte CPAs
  6. Alton Miyashiro – N&K
  7. Ken Richey – Richey, May & Co.
  8. Ted Rose – Rose Financial Services
  9. Jane Scaccetti – Drucker & Scaccetti
  10. Carmel Wood – Huselton, Morgan & Maultsby

Read all about them via Accounting Today.

  • Success seems to be largely a matter of hanging on after others have let go.
  • William Feather

Friday, September 22nd, 2017

AICPA Campaign Promotes CPA Firms’ Key Role in Advising Small Business

“The true mystery of the world is the visible, not the invisible.” – Oscar Wilde

I received the following press release about the latest #CPAPowered updated. Check it out and learn about new tools to help you promote your firm.

Latest #CPAPowered Update Designed to Raise Firms’ Visibility on Social Media and National TV

NEW YORK (Sept. 18, 2017) – The American Institute of CPAs today launched the latest update of its national #CPApowered campaign, an initiative designed to showcase the strengths of CPA firms as trusted tax and business advisors to consumers and small businesses.

This year’s campaign features two 30-second videos with the tagline, “Don’t Worry, I’m a CPA,” both of which allude to practitioners’ expertise in business development, tax planning, risk management, cybersecurity and more. The videos are part of a national cable television and social media buy this fall. Firms can promote themselves through paid opportunities on YouTube, Facebook and local television, as well as use the two videos and other materials for free on their website and social media channels.

“Small businesses are the backbone of the U.S. economy, and no one is better suited to provide trusted, informed business advice to this sector than CPAs,” said Mark Koziel, CPA, CGMA, executive vice president of firm services for the Association of International Certified Professional Accountants. “With the #CPApowered campaign, we’re reminding small business owners that ‘hey, we’ve got your back.’”

Since its launch in 2014, #CPApowered has reached more than three million people through innovative digital media and content strategies. Besides the two videos in this year’s campaign – “It’s a Jungle Out There” and “Small Businesses Take a Beating” – the AICPA has created a CPA marketing toolkit for small business with promotional materials that firms can personalize with their brand. More than 130 firms and several state CPA societies have signed up to participate in the campaign this year.

Information on the videos, suggested social media postings and co-branding options for materials can be found at www.aicpa.org/cpapowered. Videos and content for small business owners on such topics as acquiring financing, succession planning, and family office considerations can be found at cpapowered.org.

  • Bad decisions made with good intentions are still bad decisions.
  • Jim Collins

Thursday, September 14th, 2017

Accounting Today Features the CPACA

“Education is the most powerful weapon which you can use to change the world.” – Nelson Mandela

The CPA Consultants’ Alliance has launched a new series of videos aimed at addressing the key issues facing the accounting profession. I am honored to have participated in this series.

The videos focus on the four key priorities identified by the group as major trends in the next five years:

  • Technology trends;
  • The changing landscape of M&A;
  • The rise of flexible workplaces and remote teams; and,
  • The growth of consulting as a profitable practice offering.

The videos are available on the CPACA website homepage and on its YouTube page.

The segment that I participated in is about flexible workplaces and remote teams – watch it here.

  • It is the mark of an educated mind to be able to entertain a thought without accepting it.
  • Aristotle

Tuesday, September 5th, 2017

Top 100 Most Influential People in Accounting

“Happiness lies in the joy of achievement and the thrill of creative effort.” – Franklin D. Roosevelt

The thrill is still there. That statement applies to several things in my life. Here are just a few examples of thrills.

Thrills on the business side of my life:

  • When a client makes significant progress and says thank-you to me for my involvement.
  • When several people follow-up with me after a presentation to ask additional questions.
  • When I get to meet and talk with my peers (consultants to the CPA profession).
  • When I meet someone and they immediately say, “I read your blog every day!”

Thrills on the personal side:

  • White water rafting in Costa Rica.
  • When grandson Sam scores a soccer goal or when granddaughter Maria nails it in a play or dance event.
  • When I get a par (like I hope to do later today)!

A very big thrill and one that makes me feel very humbled and honored – Being named to the Top 100! Thank-you to Dan Hood and the editors of Accounting Today.

Congratulations to all of the others on the list.

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  • The thrill of coming home has never changed.
  • Guy Pearce

Thursday, August 31st, 2017

A Bit of News Today

“Jobs fill your pockets but adventures fill your soul.” – Jaime Lyn

It is a sad/happy day for me. In case you haven’t heard, this is my friend’s (Bonnie Buol Ruszczyk) last day in business as bbr marketing. 

Bonnie loves working with her clients, she is no longer passionate about running a business. Maybe all of us have had fleeting thought like that from time to time.

IMG_7499Bonnie is certainly not retiring, she is exploring other options. She states in a recent blog post:

“As my company has grown over the last eight years, a fact about which I am very proud, I get to do less of what I love and instead spend much more time running the firm. I’ve decided it is the right time for me to get back to what I am best at and love doing most, and let someone else run the show.”

Warm wishes and best of luck to Bonnie on her quest for a new adventure!

 

  • Attitude is the difference between an ordeal and an adventure.
  • Bob Bitchin

Wednesday, July 19th, 2017

New Clients Will Want Cloud Services

“It takes a very long time to become young.” – Pablo Picasso

I cringe when I hear it. The sad part is that now – summer of 2017 – I am still hearing it way too often from CPA firms around the country.

Are you paperless? Are you completely digital? Are you in the cloud? Are you using a portal?

Most of the answers I hear are…. “sort of,” “not really,” “we don’t trust the cloud,” and “we haven’t pushed it with our clients.”

A recent survey by Bill.com tells us that business owners under the age of 55 prefer their accountants to handle all or most of their accounting work digitally. 78% of those 39 and under want paper-free accounting.

I believe that people, in general, are becoming very accustomed to the digital world – from their personal banking transactions to entertainment.

It’s time to give up the excuse you have used for too many years… “our clients are older and they want things in paper.”

Read more about this survey via Accounting Today – Your Next Accounting Client Wants Paperless, Mobile Services by Mary Ellen Biery.

  • The whims of youth break all the rules.
  • Homer, The Iliad