51% plan new hiring now and into next year. For 2015, 81 percent percent of small businesses forecast a revenue increase, with 21 percent expecting to grow more than 100 percent, according to a new survey from a leading accounting software producer. The study also shows that employing an accountant pays off, according to Xero, the cloud accounting company that produced the study. SMBs (small and medium-size businesses) who use an accountant with online accounting software enjoyed a 16 percent increase in revenue over businesses that use online accounting software without an accountant.
What it means for independent tax and accounting firms. By Hitendra Patil Pransform Inc. The accounting profession in the U.S. has been shaken up by announcements from Liberty Tax Services and H&R Block that they are entering into core bookkeeping and accounting services business. More on The Entrepreneur Accountant: Six Steps for a Better Tax Season • 8 Seconds into the Future: Meet Generation Z • 5 Reasons Gen Y Will Make or Break Your Firm • 3 Ways Amazon’s New Fire Phone Hints at the Future of Accounting • The 8 Traits Creating the Firm of the Future Today • Get More Done, Make More Money: Stop Doing These 17 Things • What Shopping Habits Reveal about Accounting Clients • […]
Many never fully recover. By CPA Trendlines The typical organization is losing 5% of revenues per year to fraud, costing about $145,000 per company – and smaller businesses are disproportionately victimized, according to a new research report. The losses translate to $3.7 trillion globally, says the group which has been conducting the research since 1996. PRO members: Download the full report here. Highlights…
The main categories of information for internal communications and management. By Bruce W. Marcus Professional Services Marketing 3.0 While the substance of information varies from firm to firm, there are 10 categories that cannot go unconsidered:
By Sandi Smith Leyva With so much to do as business owners, we can get pretty overwhelmed at times. We can start believing that we have a “time” problem, but since all of us have 24/7, there really is no such thing as a time problem.
By Sean Stein Smith, CPA, CMA, CGMA A Fresh Pair of Eyes Scandals that have rocked public and regulatory confidence in the business community are not difficult to name: AIG, Lehman Brothers, the “London Whale.” Good governance, the argument goes, can be the difference between mediocre performance and outstanding performance. It can even be the difference between staying in business and going under.
And the two professional remedies you already know. By Frank Stitely, CPA Stitely & Karstetter PLLC Cloud accounting software revolutionizes our relationships with our clients, enhancing our ability to provide real-time and forward-looking tax and accounting services. At the recently concluded Sleeter Conference in Las Vegas, cloud vendors promised zero data entry, the editing of transactions in spreadsheet format and seamless integration with best of breed third-party applications. They didn’t mention, however, that their programmers redefine accounting principles by sacrificing sound internal control at the ease of use altar. Before launching your clients into the accounting cloud, evaluate the risks currently ignored by many, if not most, cloud vendors.
By Ed Mendlowitz “Tax Season Opportunity Guide“ QUESTION: I have clients that are growing and seem to need more services in house than they can afford and they are leaning on me to set in and provide them. I gather this is an additional engagement and want to know how I can go about it. RESPONSE: It seems that the client is crossing the line into a more sophisticated area, but is not able to afford a full-time CFO.
The IFRS Foundation says it has “solid evidence” that IFRS has already become the de facto global language for financial reporting in an additional 41 countries, bringing the total number of countries surveyed to 122. Key findings based on all 122 jurisdiction profiles include: