Six Success Secrets in Finance

How CPAs can master the essence of excellence.

by Rick Telberg/On Finance

Why do some accounting shops excel while others stagnate?

Good question. And it’s probably best answered not by looking fearfully at the dismal swamp of stagnation, but by optimistically assessing what makes some outfits burgeon from solo players to massive giants.

Business guru John Spence did just that and he detected a pattern. Spence is the author of “Excellence by Design: Leadership.” And his message is deceptively simple. He provides a few bullet points that speak volumes about the essence of excelling:

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Posted on July 10, 2008
Filed Under BSG FINANCE PROFESSIONAL, BSG [CPA TRENDLINES] | 2 Comments

Six Lessons for the First 100 Days

istock_000005531119xsmall.jpgNew finance execs must move swiftly to learn the ropes, set the pace.

by Rick Telberg/For the Finance Executive

Finance executives are increasingly finding themselves in the middle of corporate decision making and responsibility. For newly appointed CFOs and finance managers, success is no small feat-the first 100 days are critical.

With the pressure on, new finance managers want to make their mark early, and, according to the McKinsey Quarterly survey by global management consulting firm McKinsey & Company, there are some activities that should make nearly every finance executive’s short list of priorities.

One of the most critical activities during an executive’s first 100 days is the gaining of and understanding of what drives his or her company’s business, whether it be how a company makes money or its returns on invested capital. At the same time, a CFO must also consider potential ways to improve such drivers. Read more

Posted on June 5, 2008
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Always-On CPAs Demand Better Connectivity

business-traveler-at-airport-email-size.jpgMobile CPAs clamor for upgrades to stay competitive. Join the conversation. Take the survey. Get the answers.

By Rick Telberg
For the Finance Executive

Mark Hodell, director of audit and management services at a manufacturer of furniture and electronic assemblies in Jasper, Ind., spends up to 10 hours a week working from outside his company’s offices. And he’s quite pleased that he can.

Like many other accountants working in business and industry, Hodell rates the ability to work out of the office as an important ingredient in a achieving both a successful career and happy home life. He relies on a smartphone-the souped-up, e-mail-equipped version of the no-frills traditional cellphone-to increase his personal productivity, improve communication with colleagues, and balance his work life and personal life. He says it “allows more flexibility in your life.” Read more

Posted on March 6, 2008
Filed Under BSG FINANCE PROFESSIONAL, BSG [CPA TRENDLINES] | 3 Comments

SEC’s Cox Gets a “C”

SEC Chief Chris Cox gets tough grades from accounting - professor - turned - tech - entrepreneur Thomas I. Selling (left).

“Cox has presided without nary a whimper over budget and staff cuts (even in the wake of Enron); and worse, a partisan effort has taken place to move any investor protection agenda stage left,” Selling says at The Accounting Onion. “Front and center are the interests of financial institutions and those who serve them: in part by relaxing rules that threaten their market dominance, but also, in part, by doing nothing or too little about shareholders’ access to the proxy, registration of hedge funds, and the independence and competence of credit rating agencies.”

Posted on February 1, 2008
Filed Under BSG FINANCE PROFESSIONAL, BSG [CPA TRENDLINES] | 1 Comment

Top 10 Brain-Healthy Tips for Busy Season

stress meter.JPGHow are you coping? Check the Stress-O-Meter.

by Rick Telberg

Ahhh, busy season. For tax and audit professionals, it’s a demanding time of year, composed of late nights, early mornings, anxious clients, and, of course, deadlines, deadlines, deadlines. It’s a wonder with all the distractions and frustrations that any accountants survive.

Over the years, however, some of the most successful practitioners have learned a few things about maintaining concentration and improving motivation through the marathon. Here are a few of their tips….

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Posted on January 28, 2008
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Get Paid What You’re Worth!

CPAs speak out on compensation issues. Next question: Are you ready for tax season 2008? Join the survey; see the answers.

by Rick Telberg

Here’s something rather surprising: Slightly more than half of the accountants we surveyed actually think they’re paid well enough.

I think it says much for our profession that a majority, however scant, is satisfied with its salaries. And I find it amazing that only 46 percent of respondents are dissatisfied. I wonder how many other professions can claim so many financially satisfied professionals.

Even more interesting are the reasons behind the satisfaction or its lack. And it was the lack, I should add, that drew the most comments in our survey.
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Posted on January 17, 2008
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CPAs Plan Career Moves for 2008

Benefits packages emerge as key to CPA job changes. Which benefits matter most to CPAs? Join the study. Get the answers.

by Rick Telberg
On Careers

If you’re like most CPAs, one of your New Year’s resolutions may be to start looking for a new job.

A whopping 75 percent of CPAs apparently have some interest in moving on to a different job, according to the responses so far to my latest survey. Of course more money is always the concern, but many CPAs seem as interested in the workplace benefits at the next stop.

“Most of us consider the benefits package to be just as important as the salary,” said one senior corporate executive who’s participating in the Bay Street Group/CPA Trendlines study on accountants’ job and benefits preferences. “I would not accept a job if the critical benefits were not offered.”
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Posted on December 20, 2007
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The One Lesson No CPA Can Ignore

Even veteran CPAs have trouble with it. CPAs share career secrets: Join the study. Get the tips.

by Rick Telberg
On Careers

If you’re just starting your CPA career and you’re not sure which specialty path to take, don’t fret. Many experienced CPAs are confounded by the same question.

Practitioners from all parts of the profession note that selecting a niche is among the more befuddling issues facing newly minted accountants and that making the right choice is of paramount importance to success. “There are so many areas to branch out into. It’s much more than a choice between public and private,” says Grace Ghezzi, a CPA and senior executive with a consulting firm in Syracuse, N.Y.
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Posted on November 15, 2007
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CPA Salaries Rise as Competition for Skilled Professionals Persists

Robert Half releases “2008 Salary Guide”

MENLO PARK, CA (Robert Half International) — Starting salaries for accounting and finance professionals are expected to increase an average of 4.3 percent in the coming year, according to the just-released 2008 Salary Guide from Robert Half International. Public accountants, financial analysts and internal auditors are projected to see the largest gains.

RELATED:

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Posted on October 24, 2007
Filed Under BSG FINANCE PROFESSIONAL | 4 Comments

CPA, 76, crosses the country on bicycle to raise money for American Lung Association

Bob Jones and bike

Bob Jones spent the past summer on a coast-to-coast sight-seeing trip.

Nothing unusual about that, except for two things: He did it on a bicycle. And he’s 76 years old.

Jones, the managing partner for Towson-based Jones Hall Advisors and a life member of the MACPA, spent 48 days and 3,300 miles on a bicycle as part of last summer’s Big Ride Across America, a fund-raising event to benefit the American Lung Association. Starting June 25 in Seattle, 44 riders averaged 83 miles per day as they made their way to Washington D.C., where they crossed the finish line on Aug. 11.

Along the way, they saw, in Jones’ words, “some awesome scenery” and raised some serious cash. To qualify for the ride, each rider had to raise a minimum of $5,500 in donations. Jones, who suffers from chronic asthma, felt especially motivated: He alone raised more than $13,500 for the Lung Association’s cause.

“The American Lung Association’s research has aided in the development of medications that allowed me to do this, whereas 25 years ago I was close to death several times with asthma,” he said. “It was very important to me to be a part of this.”

Read the rest at the Maryland Association of CPAs…

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Posted on October 14, 2007
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Staff Crunch Goes Global, Says Robert Half

Report Highlights International Skills Shortage, Retention Concerns

MENLO PARK, CA (Robert Half International) — Employers around the world are feeling the effects of a shortage of accounting and finance professionals, according to the Robert Half International Global Financial Employment Monitor.

More than half of the finance and human resources managers surveyed — 56 percent — reported difficulty finding skilled job candidates, and 43 percent expressed concern about losing top performers to other job opportunities. The situation is most severe in Asia, where more than four out of five respondents from both Japan (83 percent) and Hong Kong (82 percent) reported finding skilled financial professionals was a challenge.

The international study was developed by Robert Half International, the world’s first and largest staffing services firm specializing in accounting and finance, and conducted by an independent research firm. The survey includes responses from more than 5,000 finance and human resources managers in 17 countries throughout North America, Europe and the Asia-Pacific region. The overall margin of error is +/- 1.4 percent, and the results are within 95 percent certainty.

The report indicates widespread difficulty finding skilled candidates and significant time and effort spent on interviewing and hiring. Currently, companies around the globe are spending an average of five weeks to fill staff-level accounting and finance positions and eight weeks for management roles.

“Recruiting and retaining top financial professionals may become more challenging in the years ahead due to increasing demand for this expertise and the potential retirement of millions of baby boomers around the world,” said Max Messmer, chairman and CEO of Robert Half International. “To build effective teams, employers will need to offer attractive compensation packages, as well as programs that support professional development and work-life balance.”

When asked to identify the most sought-after attribute for executives, respondents in nearly every country said experience in compliance was needed most. This underscores the increased international emphasis on corporate governance.

Managers in the United States reported the greatest difficulty hiring for executive positions. In response, companies are moving quickly to secure these candidates: U.S. respondents said their firms are taking six weeks to hire for management positions, two weeks less than the global average. Read more

Posted on October 12, 2007
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Accounting and Business Students Can Post Résumés for Free at CalCPA.org

REDWOOD CITY, Calif. - California accounting and business students can enhance their career prospects thanks to free résumé postings at www.calcpa.org.

The California Society of CPAs is providing the free service for CalCPA student members. “Top employers from throughout California rely on the CalCPA to find professional accounting staff,” said Loretta Doon, CalCPA CEO. “Now we are opening this service to help college students land their first accounting job.”

To be eligible for the résumé service, accounting or business students must be CalCPA members. Student memberships cost $30 per year. Students can apply at www.calcpa.org/join.

Any employer, including out-of-state employers, can access the CalCPA classified web page and search the site for free. To take advantage of the service, CalCPA student members should login to www.calcpa.org/classifieds and submit their résumé under Situations Wanted–Students. CalCPA will review the information for suitability before posting. All postings are for 30 days and renewable monthly.

“With accountants being in hot demand nowadays, we’re confident that almost
every student will be able to land a good job within a few weeks,” Doon pointed out.
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Posted on October 10, 2007
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Is the gender gap history?

That’s the intriguing question that accountants in Canada are asking today.

The new edition of CA magazine from the Canadian Institute of Charted Accountants reports “female CAs 34 and younger now outnumber their male counterparts. Of the nearly 14,000 CAs in this age group, 51% are women and 49% are men.”

This is part of a trend among younger CAs, with the percentage of new members who are women continuing to rise. Fifty-three percent of new CAs admitted in the first six months of 2007 are women, up from 51% in 2006. More at the CICA…

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Posted on October 2, 2007
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