What can I expect from the Accounting and Auditing Conference?

May 22, 2013
HardRock-Dusk-side-small

Hard Rock San Diego

The 2013 CPAmerica Accounting and Auditing Conference is around the corner.  The conference is an opportunity for members to network while earning CPE and hearing from thought leaders in the profession.

This meeting is being held in the beautiful city of San Diego at the Hard Rock Hotel.  The Hard Rock is in the city’s Gaslamp Quarter in walking distance to many restaurants, shops and attractions.  You won’t have any trouble enjoying the city from this location.

The A&A Conference will provide up to 24 CPE credits and is bringing top speakers in the profession to our members. Gale Crosley, Crosley+Company, will speak on “How to Grow Your Audit Practice.”  Don’t miss out on this session, Gale will discuss how to discover differentiated value, strategic imperatives of mature offerings, finding the right strategy, using thought leadership and increasing odds to win opportunities.

We are also pleased to have Susan Hodkinson, Crowe Soberman, joining the group this year.  Susan spoke to the Firm Administration group last year and received wonderful reviews.  Her session, “Identifying a Unique Employee Value Proposition,” will discuss how our firms can compete with the Big Four, in regards to finding and retaining talented professionals.

Greg Clark, Loscalzo Associates, will be speaking on “Using Nonstatistical Sampling for Efficient Audits.”  His session will discuss how many auditors use very little sampling in their audits mainly because they believe that sampling must be statistical. Greg will talk about non statistical sampling applications, as mentioned in the AICPA Audit Sampling Guide, and how to use these to improve audit engagement efficiency. Read the rest of this entry »


CPAmerica Conferences and Roundtables – A Reflection Back

May 10, 2013

I have been privileged to serve as the Marketing Director at McGowen Hurst, Clark & Smith, P.C. for the past 20 years.  OMG – where has the time gone!  conference

The old adage of time flies when you’re having fun must be true.  During my 20 years, I have been fortunate enough to attend 17 CPAmerica Marketing Conferences and Roundtables – missing only three, two for dance recitals and one for a baseball state tournament that no mother could refuse to attend.   (I remember sitting on that bleacher on an unusually cold June day, with rain pelting down, my hands wrapped around a cup of hot chocolate wondering what my CPAmerica friends were doing in sunny Orlando?!?)   But I digress…..

Needless to say MHC&S has recognized the importance of participating in this conference, and believe it to be an investment not only in me, but in the entire firm.  And I agree.

While the format of the conference/roundtable has changed over the years, one thing has not – the excellent information shared by either an outside speaker or a marketing colleague.  I have always been impressed as to the quality of speakers secured by CPAmerica for the conference.  Like the clients we serve who have changing needs, so do we as marketing directors.  And CPAmerica has always been mindful of this.

Going way back to the conference in Milwaukee in 1994, I remember one of the speakers talking about a new concept/development/tool:   the World Wide Web – a global information medium allowing users to read and write via computers connected to something called the Internet.    While I must admit, at the time, I really didn’t think it was something I would incorporate in my marketing plan, however, I continued to listen and continued to be intrigued.    However, I was wrong about not using it– as two short years later we were developing our first website.  CPAmerica – always keeping us on the cutting edge!

This is just one example of the excellent programs and speakers that CPAmerica has afforded its members.  But I must admit, my favorite part of the CPAmerica Conference/Roundtables has always been the sharing of ideas, tools, materials, etc. by my CPAmerica marketing friends.

Their ideas have helped me keep our firm’s marketing program fresh and innovative, as we reach outward to our community/market and inward to our team members.    I can’t remember a single conference that I attended, that I was not able to come back to our firm and immediately implement a winning marketing idea/technique learned at the conference.   Definitely a measurement of the conference’s success.

But the benefits of attending the CPAmerica conference/roundtable just don’t stop after the physical days spent away from the firm have ended.   Probably the very best part of attending the conferences are the people you meet and the relationships you build.  I am proud to say that during my many years of attending the conferences, I have met so many fellow marketers that have rapidly and sustainably become good friends still today.

If I were to offer a suggestion to new CPAmerica marketers, I would encourage you to get involved with the planning and execution of the roundtable.  There are many opportunities available and like everything in life – the more you put into something…the more you get out of it….and the CPAmerica Roundtable is no exception.

Guest post by Rose Breuss – Marketing Director with McGowen Hurst, Clark & Smith, P.C.


Who is that instructor? Learn About Them Here

May 8, 2013

Have you ever attended a webinar or conference and realized as you were listening that you did not actually know the speaker’s background or qualifications?  This summer CPAmerica International will be hosting two webinar series: one series on International Tax and one series on various A&A topics.  We’re going to reveal these instructors’ brief bios ahead-of-time, so you’ll want to tune in from the beginning!

___________________________________________________________________

Our first instructor is Sean King of Align Global Consulting.  With all of our members’ International intesean kingrest to the many recent international priority request questions, Sean has definitely been in high demand.  With experience as a partner at a Big 4 accounting firm and a partner at a well-known law firm, Sean’s highly regarded practice focuses on international tax planning for both the outbound operations of U.S. multinationals and the inbound operations of foreign multinationals.  Align Global Consulting is one of CPAmerica’s Preferred Consultants and works with members who have questions about structuring mergers and acquisitions, internal restructurings and operations, joint ventures, external and internal financings, or transfer pricing matters, including cross-border transfers and licensing of intellectual property.   CPAmerica responded to the enhanced demand for Sean King by establishing a formal relationship with Sean and Align Global.

Think of Align Global as a complement offering in your major international client projects. Some of our members’ clients are after little fish and they can be successful with a one-inch lure, but if they’re after big fish in international waters, they’ll need a bigger lure to make the venture a success: Sean King.  This international assistance is that competitive advantage our members now have over the firm down the street.

Sean’s wisdom will also be available to our members through another medium throughout June and July, as he will be offering an eight part webinar series to members only to help you get started in International Tax including topics such as the fundamentals of international tax, reporting, planning, M&A, and more. Our members will have the opportunity for a refresher on the basics of international tax as well as gain insight into some of the more advanced planning techniques.

For more information about Sean, check out the webinar series details, Sean’s full bio or Preferred Provider page, Align Global Consulting’s website, or contact Sean at sking@alignglobalconsulting.com or 919-904-4291.

___________________________________________________________________

tom ratcliffeOur second instructor is Tom Ratcliffe.  Tom helps explain how to apply technical or complicated accounting and auditing literature in plain English.  Tom produces bi-weekly materials for CPAmerica’s Preferred Provider Plain-English Accounting while also serving as the Senior Accounting and Auditing Technical Advisor for Warren Averett and Director Emeritus of the School of Accountancy at Troy University.  If you want to take advantage of Tom’s expertise, you can become a member of Plain-English Accounting to receive his regular updates, or ask him questions as a consultant, both of which are discounted for CPAmerica members.

Throughout the summer, Tom and Russ Madray will be offering a 4-part webinar series to members on topics such as fair value, attest reports, FRF for SME, and current accounting issues.  If you’re in A&A, you won’t want to miss this year’s series!

For more information about Tom, check out the webinar series details, Tom’s full bio or Preferred Provider page, Plain-English Accounting’s website, or contact Tom at tomr@wilsonprice.com or 334-260-2326.

___________________________________________________________________

russ madray

Our third and final summer webinar series instructor is Russ Madray.  Russ is also a contributing author to Plain-English Accounting alongside Tom.  Additionally, Russ serves as the president of The Madray Group whose focus is similar to Plain English: help accounting firms and other organizations understand technical accounting and auditing issues.  The Madray Group specializes in providing technical reviews, inspection services, and technical assistance to small and medium size accounting firms throughout the U.S.  Russ’s authorship can be found in many AICPA publications and various best-selling A&A books.  He also has extensive speaking experience, addressing hundreds of groups each year and serving as a senior lecturer at Clemson University’s School of Accountancy and Legal Studies. With more than 25 years of professional experience, Russ is a certified public accountant, certified internal auditor, certified management accountant, and a certified financial manager.

Russ brings a wealth of experience to the A&A webinar series this summer as he will be co-teaching all four webinars with Tom.  Russ and Tom’s abilities to break-down technical information into what can be easily understood and applied will make this series a value you don’t want to pass up.

For more information about Russ, check out the webinar series details, Russ’s full bio, The Madray Group’s website, or contact Russ at russ@madray.com or 864-233-0502.

Kaylen Saunders, Member Services Manager for CPAmerica International. With a masters in Curriculum and Instruction and experience as a professional development trainer, Saunders is responsible for scheduling and hosting webinars, administering CPE, maintaining the members-only website, managing preferred provider relationships, and coordinating the CPAConnect Roundtable.

Register for Webinars Today


The Power of Leadership Lies in the Power to Serve Others

April 30, 2013

“You are not here merely to make a living. You are here to enable the world to live more amply, with greater vision, and with a finer spirit of hope and achievement. You are here to enrich the world, and you impoverish yourself if you forget this errand.” – Woodrow Wilson

Grace Horvath, Director of Services

Grace Horvath, Director of Services

Whether it is the success of your company, the well-being of your community and its citizens, or a cause that is important to you, your effectiveness as a leader and your engagement in the experience grows exponentially when those around you can sense you are there to serve.  I read recently in making hiring decisions, look for individuals with volunteer leadership experience.  These are individuals who have the proven ability to lead by inspiration because others trust their priority is to serve the best interest of all.

About 20 years ago, I moved from my lifelong home of Miami, FL to Gainesville, FL.  Honestly I was not excited about relocating from a glamorous and growing metropolitan paradise to my perception of what Gainesville was 20 years ago, an unworldly college town. My son was only six at the time and I heard it had good schools and was a safe place to raise a family.

I had very little connection to the community anymore and somewhere along the way after nearly 30 years in Miami, I had even less to lose packing up my family and relocating someplace completely new.  Miami had undergone an unprecedented cultural and economic transformation  Almost everyone I grew up with had left for other parts of South Florida and my university was more of an academic destination for engineering and sciences students making my liberal arts agenda of English and Latin classes barely a speck on the curriculum.

We moved in the fall barely in time for the new school year.  I’d get him off to school in the morning and then spend the next couple of hours wondering what I’d done.  It didn’t help that it was a record cold winter in Gainesville so I had plenty of time to feel sorry for myself waiting for my son’s bus to arrive home when I dreaded going out in the “freezing” cold to meet him. (I did not own a sweater or closed-toe shoes when I moved here from the subtropics – so yes it felt freezing – to me.)

But there was one good thing during those dreary days, I began to think about how I became so alienated and wonder how a person could live somewhere their entire life and walk away with such a light load.

As I sat there not knowing anyone in this new place and with no job to springboard some social structure to my life, I realized that after a lifetime in one place, I had never really engaged myself in my community.  I had done well with natural leadership abilities, but I did not extend myself in any type of community service or involvement outside meeting the needs of my family and me.  Read the rest of this entry »


Time to Reflect on Your Progress

April 24, 2013

You are most likely approaching “planning season” and it’s the time of year to re- think the firm’s future and strategic plan. Strategic_Planning_Symbol

I suggest prior to hiring the facilitator, arranging an offsite meeting, sending out invitations and preparing the documentation, that you reflect on the last ten years of planning.

2003

It was only ten years ago, but a lot has happened since 2003.  Lance Armstrong “won” his fifth of his total seven Tour De France’s.  “Do not call” lists appeared for consumers for the first time.  Arnold Schwarzenegger was elected Governor of California.  Tampa Bay Buccaneers were Super Bowl Champions.  Florida Marlins won the World Series.

Let’s look for a minute on your firm’s 2003 plan.  Do you have the planning document from that retreat in 2003?  How did you do?  Even if you don’t have the document, how has your firm advanced in the following:

  • Your succession plan?  Is it in writing?
  • Have you implemented a business development methodology?  Do you have a regular pipeline meeting?
  • Are you happy with your compensation plan?  Does it meet your overall objectives?
  • Have you met your plan of partners to professionals?
  • Are partners transitioning lower potential clients to others?
  • Have you ranked your clients?
  • Are you setting and measuring annual goals?  Who is reviewing annual performance?
  • What new niches have you introduced to the firm?  Did you hire the expertise or grow it?
  • What is your compounded growth in the last 10 years?  Did you make plan?  Did you make your revised plan?

The list could go on.  We often have great intentions during a planning session and there is credence in setting goals high, knowing that if you only hit half of them you will still be successful, but how well are you really doing?

The purpose of reflection is to see if for the last ten years, you have been trying to accomplish the same things. First, congratulations on those objectives you have met! Second, others may have been restated in the subsequent planning sessions.  There are objectives that never seem to get accomplished yet we continue to state them as objectives in our retreats year after year.

Why would you continue to do the same things and expect different results?

It may be time for a new approach.

Now is the time that if I were selling something, I would tell you what to buy.  I’m not selling anything nor do I have a “silver bullet” answer.  I do know that it is time to either try something different or maybe reexamine the objectives.

If you and your partners are really committed to the objectives, I suggest using all available resources to create and implement the plan.  You can use your planning retreat, CPAmerica’s VIP, your executive committee, or the expertise of the profession’s consultants.  It would also be advisable to create a timeline with dates for completion of steps within the state objectives.  You could meet weekly to review the status of the activity to meet those objectives.

But it really comes down to the question, “Does your firm want to meet these particular objectives or are they happy with the way things are?”

So what does success look like for your firm? Read the rest of this entry »


Choose Your Words Carefully: What These Phrases can Reveal About You

April 11, 2013

The other day, I had one of those moments of clarity. It was that moment managers have when they are surprised by one of their reports sharing a phrase that the manager often uses.

Alan Deichler

Alan Deichler

It’s possible that most of the time the manager won’t even know how they influence those around them until they are given feedback, like a word or phrase they hear you use often.  In this case, my phrase was, “help me understand.”

I had no idea that I used that phrase.

I pondered the feedback for a while, unsure whether I liked that I used a phrase that my team associated with me when I didn’t really know I even used it. After thinking about it, I believe, I like the phrase.

I’ve decided “help me understand,” if used properly is a great way to identify and learn.   As I thought through my usage of the phrase, I came to realize I use it just prior to asking a question about the subject I want to know more about.  It is a way to inspect what I have delegated.  I also found that the phrase comes with two areas that will reveal the kind of manager you want to be.

First, follow up the first statement with an open-ended question rather than a one that directs toward a particular response to leave room for staff to elaborate.  For example, steer clear of the way an attorney would cross-examine a witness.  They will often use a question that most likely will start with the words “Did,” “Do,” “Are,” and “Will.”  They steer the answer in a direction that they want it to go.  I want to learn something new including updates, status, progress and such.  In order to accomplish that these questions must start with words like “How,” “What,” “Where” and “Why.” Read the rest of this entry »


Are you making the most out of your conference experience?

April 3, 2013

Today is April 3rd – We are in the home stretch of tax season!   For those of us not knee-deep in 1040s, we can actually take time to plan for the upcoming business conference season that is just around the corner. Business conference

One of the main perks you receive as a member of CPAmerica International is having a host of beneficial conferences at your fingertips.  We offer conferences such as, Tax, A&A, Technology, and Marketing, to mention a few.  We have Regional Partner meetings on the horizon, starting in June 2013.  For a complete listing of upcoming conferences, please visit the CPAmerica members-only website.  There you will be able to get all the specifics for the various conferences including, dates, times, speakers and agendas as soon as they are available.  The main organizer and contact information for each event is also included on the website for your convenience.

There are three basic guidelines for you to get the most out of conference season.

1. Conferences are what you make of them.  You will basically get out of your conference what you put into it.  Go in with a plan of gaining as much useful information as you can (without information overload) and realize that the interactions that you have with others will be the most important part of what you take home.

When you attend a CPAmerica conference, you are likely attending with peers that you’ve communicated with via phone, email or discussion lists.  Conferences elevate relationships to a whole new level when you meet peers face to face. Read the rest of this entry »


Want to write an accounting blog, but don’t know how to get started?

March 19, 2013

Writing a blog is quite a bit different than some of the reports and other papers you may write – if you do much professional writing at all. Doing work

People read blogs to learn new information from the writer’s distinct point of view. They want easy reading, and they want interesting information.

Here’s how you can give them what they want.

What should I write my blog about?

As a CPA, you have an abundance of information at your fingertips that people are really interested in hearing about.

Think about the questions you get asked most on a daily basis by your clients or by your friends at a cocktail party or backyard barbeque.

Those conversations will give you the best ideas because you’re writing a blog for the public – and those people are the public. You don’t want to write about the latest FASB update or the new IRS Revenue Ruling, which may be water cooler conversation at the office, but is in the stratosphere for your intended reader.

Your readers want information that will help make their lives better – that will earn them more money, cost them fewer taxes, protect their businesses from fraud or cut their office expenses.

It’s essential to remember who your audience is. So, unless you are writing for a professional site directed toward other CPAs, your audience is either the general public or a particular business or industry group – none of whom are CPAs.

If you work in the tax area, there are dozens of topics people would like to learn more about, especially at this time of year.  You can write about their individual taxes or tax issues that affect their businesses. If your website is divided into different niche areas, you can customize your blog to builders, manufacturers, nonprofit organizations, professional service businesses or other industry groups.

Here are just a handful of possibilities that might spark an idea:

  • How businesses can take advantage of the reinstated R&D credit
  • Gifting opportunities and other planning measures to avert higher estate taxes
  • How Obamacare will affect businesses
  • Making the most of the home office deduction
  • How enhanced Section 179 elections can help small businesses
  • Planning to reduce capital gains taxes
  • Minimizing taxes on IRAs, 401(k)s and other retirement plans

If fraud is your area, there are endless possibilities for blogs on how to prevent and detect fraud. Consider topics related to workers’ comp, tax evasion, identity theft, collusion, employee pilfering, embezzlement – the list goes on and on.

Case studies and recent court cases can serve as colorful examples to illustrate broader issues.

A&A also has areas of interest to business people. Some possible topics are:

  • How to prepare for your annual audit
  • What your auditor does – and doesn’t do
  • Understanding your financial statements
  • How to develop adequate internal controls

Regardless of your area of expertise, when you’re looking for a topic, think of the questions most often asked by your clients, as well as important information that could be beneficial to them but that they might not know to ask about.

How do I write the blog?

Read the rest of this entry »


A Refresher on Billing and Collections

March 14, 2013

This is the time of year when most CPA firms make contact with more than 60% of their client base as a result of tax preparation and advice to clients.

Kathy McDonald, Director of Concierge Services

Kathy McDonald, Director of Concierge Services

This is also the time of year when billing and collections is of vital importance to sound CPA firm management.  This can be a challenge to many firms, since the accomplished CPA is seldom trained on timely billing and collection procedures essential to cash flow and profitability.

According to Dennis V. Niven, CPA, B2B CFO®, businesses in general should have less than 40 days in accounts receivable, and well-managed firms that pay staff every 2 weeks should have receivables of less than 30 days.

Annual review of sound billing and collection policies and practices is a prudent activity for all firms regardless of practice size.  The policies should be written and the practices should be reviewed among all pertinent staff at least annually, if not more often.  Progress on billings and collections should be monitored regularly throughout the year.

Sound practice incorporates several steps in the A/R process:

  • Client screening on an annual basis of both new and repeat clients is vital to the billing and collection process.  With the new client’s permission, predecessor firms should be contacted, as well as performance of background and credit history checks.  For repeat clients, not only does the firm know the client payment track record, but also has access to the financial viability of the client which can vary from year-to-year.  The annual review should determine if the client and engagement are still a good fit for the firm. Read the rest of this entry »

What is the role of a manager?

March 11, 2013

The best managers I have ever seen, or worked for, were able to delegate and inspect to the point that they could leverage their own potential efforts through the people who reported to them.

Manager and team member

Become a great manager

The less-than-successful managers never quite understood that while he/she got the management job because they were great at getting things done, they were expected to work through others in the new position.  Perhaps they even felt, and were often right, that they could do the job better than anyone else.

Well, they were right about one thing; today they still can do the job better than anyone else.

Unfortunately, if they didn’t teach their direct reports how to do the job, coach their staff to improve, and let their team fall down once in a while, they would always be right.

The manager would be better than anyone else on the team, forever.

Ultimately, the role of any manager is to have their people operating independently with minimal yet regular inspection.

Part of the success is teaching the skills, knowledge and experience to complete a project.  Another major part is imparting the understanding and appreciation for the organization’s mission, strategy and role.

Once a manager is able to get their direct reports to think like the manager, the rest is pretty simple.

You could put the results in an equation: Read the rest of this entry »


Follow

Get every new post delivered to your Inbox.

Join 354 other followers