Today's Features

7 Succession Questions to Ignore for Now

Serious-looking businessman in front of empty conference roomThere's some misdirection in succession management out there.

By Bill Reeb and Dominic Cingoranelli
CPA Trendlines / Succession Institute

You can’t go a week without seeing some article or blog focused on succession management and everyone seems to have a different opinion as to what is important when addressing succession. So, I thought it was time we challenged some of the more common misdirection that we have been reading in recent advice columns.

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The first thing most authors want to focus on with succession is the development of future leaders. Then the dialogue will shift quickly to mentoring programs, leadership training and more. Well, it would be hypocritical for us to disagree with this because we actually develop and conduct these kinds of programs. However, training such as this is only valuable after many other issues are addressed first. So, while it is important, I guess the best phrase to describe this is “first things first,” and this is not first by any stretch of the imagination.


The Holiday Gift Guide Accountants Can Love

Today: The budget-priced alternative to GoPro action cameras.

What's on your holiday wish list? Click here to see what accountants are hoping for

By Rick Richardson
The Accountants' Holiday Wish List

When Nick Woodman and Tony Bates started GoPro action cameras 13 years ago, no one thought they would define an entirely new photography market. Today, the Hero 4 GoPro dominates the market and sells for $500.

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ISAW WING Wi-Fi Full HD Action Camera
ISAW WING Wi-Fi Full HD Action Camera

Now, a new entrant, iSaw Edge, is offering a competitive action camera for a whopping $190! A lot of other products have tried to compete against GoPro with a cheaper product and failed. So what makes iSaw Edge so much better?

The product ships in a nicely packed container, very professionally produced and tidily presented. The real surprise however, comes when you open the box and find a bunch of goodies waiting for you to enjoy. We’re talking a heap of mounting options and other useful stuff, which you would usually have to pay extra for. And none of that cheap flimsy plastic rubbish either. It’s all solidly made and with a quality feel. There’s also a helpful User Guide in multiple languages.

As you’d expect from a GoPro clone, the Edge comes in a very typical black rectangle shape, all the better for fitting standardized action cam accessories. The camera itself is solidly built, with no flimsy catches or buttons, and it’s designed to be ultra easy to operate. Some evaluators have said they managed to produce quality stills and video without once looking at the user guide, which is a real testament to the designers. READ MORE →

8 Ways to Delight Tax Season Clients

Portrait of a mature businesswoman giving a binderDo you make them feel important?

By Ed Mendlowitz
Tax Season Opportunity Guide

Clients are our customers. They pay our salary and enable us to make good livings. Do what you can to accommodate them and make them feel important – as important as they believe they are.

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Also be user-friendly – do not make it difficult to work with you. Clients don’t know how smart we are. They think we are great, but they measure us by the small things – the good and bad.

Trashing the Spreadsheet: Best Practices in Modern Expense Management

Ushering a new wave: automated solutions.
Ushering in a new wave of automated solutions.

How digitizing can benefit clients – and you.

By Sandi Leyva and Michelle Long
The Ultimate Accounting Virtual Conference

In this session on trashing the spreadsheet, stories in expense automation, we’re going to hear a lot about best practice. We know a lot of you have clients who have expense automation needs.

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Today, we hear from Jason Mills, director of customer experience at Expensify. working with accountants, their clients and individuals.  READ MORE →

How to Build Your Pipeline

man with pipe dollarphotoBONUS CHECKLIST: 5 questions to evaluate your network and skills.

By Martin Bissett
Passport to Partnership

Ask yourself and answer these questions when considering the current and future "conversion" tactics that you’ll employ.

  1. If I were to start today, could I name four businesses that I’d like to reach out to?
  2. What is our firm’s net fee growth goal this year and what can I do to contribute to it?
  3. What do I need to do to be able to handle the tough stuff like negotiation, pricing and handling objections? What start to learning these skills can I make today?

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Building your pipeline

Record the businesses you’d ideally like to work with or believe you can add value to below, for future inclusion in your personal pipeline.


14 Provisions to Include in a Letter of Intent

Smiling businessman holding clipboardAvoid promising to “negotiate in good faith.”

By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide

Letters of intent should be drafted cautiously and with as much detail and precision as possible. This avoids potentially fatal misunderstandings or disagreements around key terms later in the process.

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An LOI is too often seen as a non-binding jumping-off point, with no real consequences. This is not exactly true. For starters, an attempt by one party to change a material term in the LOI can be characterized by the other party as an act of bad faith or a breach of trust, which can

Fears of Innuendo, Gossip Impede Development

Overhead view of male and female business partners analyzing statistical annual report represented in graphs on digital tablet.Keep close relationships from getting too close.

By Ida O. Abbott
Sponsoring Women: What Men Need to Know

A close work relationship between a man and a woman can generate sexual tensions in one or both of them.

When the man is older and powerful and the woman is young and ambitious, the potential for complications is even greater.

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Even when the relationship is strictly business focused, it can be the subject of rumors, gossip and speculation among coworkers, and it can arouse feelings of jealousy and resentment in the sponsor’s wife.


Do You Have a Practice … or a Business?

Hand putting coins into blue piggy bank7 decisions accountants may someday regret.

By Hitendra Patil
Pransform Inc.

You might end up losing a million dollars or more. Surprised? Here are ways you could be frittering money away without even realizing it.

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1. Doing Instead of Getting Things Done

Accounting is not a service industry. Hotels and package delivery are service professions. They thrive on efficiency, technology, standardization of processes and so on.


Daily Billing Cuts Month-End Load, Creates Audit Trail

Businessman with laptop and papers3 ways PDFs can benefit your business.

By Roman H. Kepczyk
Quantum of Paperless

Studies done over the past two decades have clearly shown that there is a significant improvement in realization for firms that enter, release and post time and expenses on a daily basis. This process allows for daily or “hotel” type billing that is sent out with the completion of each billable project.

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The next step in the evolution of time and billing systems provided real-time dashboards to report on firm activities and effectively allow firms to generate invoices. This can work only if all time and expenses for all personnel are captured within the system. While most firms have a daily time entry “policy,” the biggest abusers of the policy are owners and managers, so it is about time for them to get on board and use the system.