The news about the economy is not as important as what you decide to do about it.



"Too often, accounting firms head immediately for the bunker and dwell on any negative news," practice management consultant Gary Boomer says.

He tells firm leaders: "the challenge for you is to maintain personal confidence while building the same in your staff and clients."

Boomer suggests six steps to take today:

1. Have a New Opportunities conversation with your clients. Discuss what they have and are grateful for.

2. List each client’s current dangers, opportunities and strengths – then select and focus on the top three.

3. Develop an action plan. Be creative.

4. Focus on progress and not perfection.

5. Agree to speak again with the client within the next 30 days.

"The uncertainty of the times is real," Boomer says. "Fear should not cause paralysis, but rather motivation to take positive action. While some things are out of our control, how we react is not. Take time to think, write down your thoughts and act. In so doing you will devise a remedy for the present and a plan for the future."

More at The Boomer Bulletin.

[VIDEO] Rapping flight attendant explains GAAP at Southwest Airlines annual meeting

As the CEO explained, "Now GAAP is fun!

Southwest's upper management people decided that they should bring David Holmes, the famous rapping flight attendant, to the shareholders' meeting in the role of "rhythmic ambassador" to explain actually what "Generally Acceptable Accounting Practices" are.