Professor Henry “Indiana” Jones Jr.
33 New Montgomery Street
San Francisco, California 94118
Dr. Jones,
We are in receipt of your Form 1040 for this past year, and there are several items on your tax return that the Internal Revenue Service would undoubtedly take issue with. These are items that, as your accountant, I would be greatly remiss in not bringing to your attention. While we appreciate your continued use of our qualified tax preparation team and we understand that your financial situation is far from straightforward, we are compelled to make note of the following issues:
It’s worth reading the rest at the very funny Riding with Rickey….
CPAs update sales and marketing strategies for tough economic times
What’s working for CPA firms today? Join the survey; get the answers.
by Rick Telberg
At Large
Many accounting firms, already inundated with more than enough work, are rethinking their new business strategies and are turning away from sheer growth in fees and clients to refocus instead on sustainable profit and enterprise value.
For many accounting firms in recent years, marketing has not been a problem. New clients have been rolling through the doors. And, in fact, CPAs are working longer hours or even turning away business to handle the surge.
But with the economy shifting into low gear, more CPAs are taking a new look at their marketing and business development strategies.
Here are five fresh viewpoints to tweak your marketing strategies: READ MORE →
Mark the date: June 16, 2008.
That’s the headline that will go down in accounting history, courtesy of CFO magazine’s brilliant Marie Leone (pictured). She’s reporting that FASB chairman Robert Herz has announced a public forum, slated for Baruch College in New York, to kick off an effort to move American companies to international accounting standards.
Full story, here…
Replaces email, paper and faxes.
Rockville, Md.-based Aronson & Co. CPAs has launched a blog, Aronson Fed Point, geared toward the government contracting community and written and compiled by members of A&C’s government Contract Solutions Group.
“There’s no question that blogs are going to become increasingly more important to business owners and entrepreneurs,” said Lisa J. Cines, CPA, A&C’s Managing Officer (pictured).
“Government contracting is an industry that moves incredibly fast and changes need to be communicated immediately. Blogging allows our experts to address these changes and how they will affect a contractor’s business. Rather than sending out more paper, more emails, more faxes, we have opted to create an online community for busy professionals where they can access a wealth of information in a central repository and share their own experiences and knowledge.”
After five years in a row of gains, revenue and billing-rate increases have slowed.
Instead, headcounts and salaries are advancing faster, eating into profit growth.
According to the annual American Lawyer magazine ranking of the top 100 firms in the U.S.: “The great run may be over. The sharp decrease in deal activity is well-known. And the classic countercyclical practices — litigation and bankruptcy — have not yet lifted all boats. Also, there is a structural indicator that points to weakness. For the first time since the bust of 2001, the growth in head count noticeably exceeded the growth in revenue per lawyer. Coupled to the body count was the much brooded-about associate salary increases last year. Many consultants argue that those costs will be fully felt this year, precisely when demand for high-priced legal help may fall.”
Full story here…
Some 57 percent of key AICPA members are pessimistic or very pessimistic about the economic outlook for the U.S. over the next 12 months.
That’s relatively unchanged from 59 percent who held negative expectations in the first quarter. The survey found just under 12 percent of CPAs in executive positions expressed optimism about the economy, virtually unchanged from 11 percent in the first quarter. READ MORE →
While Ames Research compiles its list of auditors and fees, a few nuggets have slipped out.
PwC is flat and BDO and McGladrey are down. Is the SarbOx Boom over?
Average Fees Change,
FY06 to FY07 (Companies over $500 million)
Auditor….. Avg. Change
BIG FOUR
PwC….. 0.1%
D&T….. 10.3%
E&Y….. 8.9%
KPMG….. 3.0%
NEXT TIER
Grant Thornton….. 12.4%
Moss Adams….. 10.5%
Dixon Hughes….. 7.0%
Crowe Chizek & Co. ….. 4.9%
Porter Keadle Moore….. 2.7%
DECLINES
BDO Seidman….. -10.3%
McGladrey & Pullen….. -6.4%
Battelle & Battelle….. -3.7%
TOTAL….. 5.2%
