Nashville’s Kraft Tries VAR Biz Again After 2-Year Hiatus

KraftCPAs is purchasing 40 percent of Axis Accounting Systems Inc. — its first acquisition in six years.

Kraft exited the technology business two years ago, referring all its clients to Axis, now a $2.6-million-a-year business with 11 staffers. Axis CEO Dallas Wilt remains chairman for five years, then sells out to management.
Clients got the news at the 10-year anniversary party of Axis, held at the Kraft offices. READ MORE →

Global Alliance and Moore Stephens Set Merger

Merger Creates Major U.S. CPA Firm Association

The Global Alliance and Moore Stephens North America Inc. will merge to create one of the largest CPA firm associations. The association, to be known as Moore Stephens North America, will have a roster of 35 firms with gross revenues of over $600 million, placing it in the top ten of firm associations. New York-based CPA Steven Sacks will serve as executive director of the merged association, which will share headquarters with Mahoney Cohen in New York, whose managing partner, Mark Garten, also headed Global Alliance and will helm the new group.

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Which movie accountant would you trust most to do your taxes for you?

Votes
Ben Kingsley (Schindler’s List) 2759

(34.5%)
Rick Moranis (Ghostbusters) 1415

(17.7%)
Danny Glover (The Royal Tenenbaums) 1273

(15.9%)
Other 645

(8.1%)
Gene Wilder (The Producers) 599

(7.5%)
Joe Pesci (Lethal Weapon 2) 417

(5.2%)
Bud Cort (The Life Aquatic with Steve Zissou) 328

(4.1%)
Alan Alda (Same Time, Next Year) 194

(2.4%)
Dylan Baker (Road to Perdition) 161

(2.0%)
Bruce Greenwood (Exotica) 73

(0.9%)
Charles Grodin (Heaven Can Wait) 58

(0.7%)
Donald Sutherland (The Day of the Locust) 50

(0.6%)
Laurence Harvey (Room at the Top) 18

(0.2%)

A total of 7990 votes were collected.
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Another Look at the “Succession Crisis”

Is it really a “succession” issue? Or simply a failure to plan for success?

by Rick Telberg
At Large for the AICPA Insider

Many say there’s a succession crisis among CPA firms. Maybe so. Or maybe you could look at the problem a little differently. Maybe we don’t really have a succession problem – maybe we have a problem planning for success! Think about it. The core issue in a succession plan is the fair-market value of your firm. If it’s worth it to someone to join as partner or to acquire, buyers should be lining up.

[NOW IT'S YOUR TURN: How worried are CPAs about succession? Join the survey and get the results.]
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