Today's Features

Why You Might Want an Executive Committee

Business people having meeting10 specific duties.

By Marc Rosenberg

As firms evolve in size, many things need to change.

MORE: How to Specify Managing Partner Duties | Handling Pay During the Disability of a Partner | Why Voting Isn’t Such a Big Deal | What’s in a (Firm) Name? | Protect Your Business with a Solid Partner Agreement
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One of the biggest changes over time is how the firm is managed.
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A Legacy of Leadership Must Extend to Diversity

Latina businesswoman using earpiece with businessmen in backgroundOpportunity needs to be available to everyone.

By Liz Gold
in From Success to Significance: The Radical CPA Guide

Though it is slowly changing, most accounting firms are traditional in the sense that they are still owned and managed by white, Baby Boomer-aged men wearing nice suits and ties. It’s been the go-to standard for decades. Slowly, I would argue, more hoodies and hip sneakers are taking over the suits, as is common in startup culture, but this obviously depends on the firm and its customers.

MORE ON RADICALISM: 5 Ways to Create a More Diverse and Inclusive Workplace | Creating More Diversity in Accounting Firm Leadership | Accodex Sets Up a Platform for Practice Management | Product Management: Start with These 6 Steps
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And while technology may be changing at the speed of light, firm processes are getting more streamlined and even more firms are looking to value pricing because they just understand the limitations of timesheets, change also needs to be happening from a talent and business development perspective.
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Building Your Dream Team

The who, why and how of all the people you'll need outside your practice.

By Jassen Bowman
Tax Resolution Systems

Your practice does not operate without the assistance of other people and businesses.

MORE ON TAX RESOLUTION: Suggested Tax Resolution Client Payment Guidelines | Checklists for Tax Resolution Sales | Overcome Objections in 7 Steps | How to Reactivate Lost Clients | Don’t Ignore Your Existing Leads | The Importance of Goals and Affirmations | Market to Your Ideal Clients | Tax Resolution: A Lucrative Opportunity
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Note that this section doesn’t comprise your internal staff. Rather, your “Dream Team” is your network of service providers, independent contractors, vendors and joint venture partners.
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5 Ways to Create a More Diverse and Inclusive Workplace

Portrait of Minda Harts
Harts

"Doing nothing is not an option."

By Minda Harts
in From Success to Significance: The Radical CPA Guide

When you think about the structural elements it will take to create a company culture that is both diverse and inclusive, what comes to mind?

MORE ON RADICALISM: Embrace Difference and Diversity | Goals, Goals, Goals | 3 Challenges in Shifting to Product Management | Tips from a Veteran Product Manager | Productized 1099s the New Vision Way | Why Our Clients Need Us to Be Radical
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Real cultural shifts take time, money and buy-in from all stakeholders. A more diverse and inclusive environment is not only intended for internal use, but will also help you attract and retain more diverse clientele. Verna Myers said it best: “Diversity is being invited to the party, inclusion is being asked to dance.”
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Russian Router Malware Just Got Much Worse

Man plugging cable into a routerBetter safe than sorry.

By Rick Richardson

Remember that recent Russian router malware warning? The situation is even worse than we originally thought, and a whole lot more router owners are going to have to factory-reset their devices and install firmware updates.

MORE TECH THIS WEEK: EY’s ‘Day One Ready’ Creates Needed Competencies of the Future | Paying for Life in 2040 | New Lidar Sensor Slashes Cost, Boosts Production | IBM Has Created a Computer Smaller Than a Grain of Salt | Solar Panels Generate Power from Falling Raindrops | Facial Recognition Could Replace Boarding Passes Within 4 Years | Google, Rolls-Royce to Create Self-Piloting Ships
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Not only are many more Linksys, MicroTik, Netgear and TP-Link routers vulnerable to the VPNFilter malware, according a recent report from Cisco Talos labs, but several Asus and D-Link models are now also thought to be vulnerable, as well as a couple of Ubiquiti routers and individual Huawei, Upvel and ZTE devices. In all, nearly 70 devices are impacted, including QNAP network-attached-storage drives.
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Become Your Mind’s Lead Programmer

Calm balanced businessman sitting outdoors on bench in Yoga lotus pose meditating, with office building and blue sky in backgroundMeditation is one way, but there are others.

By Bill Reeb

Your mind is the most powerful resource available to you. It is easy to think of it as a supercomputer, running your physical being: constantly compiling data, processing complex transactions, creating internally revealed reports and so on.

MORE: Let Go to Get Unstuck | Get Better, Work Better, Right Now | Constantly Build on the Basics | From Martial Arts to Business: 5 Steps of Evolution | Expect and Embrace Failure Anytime You Do New Work | Determining Your Desires Should Be an Active Process
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We know through research that most of us barely tap into our brain’s full capability, so it is also not hard to get complacent and deem the brain to be some magical organ that we just hope keeps running properly. As well, it is easy for us to get comfortable interacting with our minds as if we were only data entry operators rather than the brain’s lead programmer.
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Remote Access Requires Planning

Young woman eating an apple and working on a laptop at homeMake sure your bandwidth can keep up.

By Roman H. Kepczyk
Quantum of Paperless

One of the key components in optimizing firm production is providing the capability for firm personnel to work from any place, at any time, at their own convenience.

MORE: Proactively Manage Application Updates | Microsoft Office 201x vs. Office 365 | How the Cloud Plays into Scheduled Server Replacement | Monitor Real Estate: More IS Better
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Allowing experienced firm personnel the ability to work remotely is also one of today’s key employee retention strategies. Giving your personnel secure access to the firm’s application and data resources will allow them to work effectively outside normal office hours and avoid unnecessary commuting time.
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Running on Passion, or Running on Empty?

Feinberg

'Passion is nice. But passion with positive cash flow is so much nicer.'

By Andrea Feinberg

Hey, new business owner: Congratulations on making a huge leap. Your choice to risk it all (and I’d say a predictable income, resources and benefits are pretty huge to leave behind) takes enormous courage, persistence, and a plan. And, many would say it takes a strong devotion – some call it ‘passion’ – to the service or product you plan to deliver.

Well, I have a suggestion and I hope you’ll take this personally (not a typo: I want you to take it personally because your business will be among the most personal relationships and responsibilities you’ll ever have.)

I’m going to suggest you shift your thinking: don’t start a business; solve a problem. Unless your product or service can solve a specific problem (or, secondarily, expand on an opportunity) for a recognizable category of customer, you’ll never make a penny. READ MORE →

The Secret to Making Millennials More Efficient

Carrick
Carrick

Five good reasons to let them make their own hours.

By Drew Carrick

What I am about to say might cause you to break into absolute hysteria.  Depending on whom you are,  you will either: share and embrace, or smear and critique. My intention is not to demand a change in the working world, but rather to stimulate a cultural conversation that can change the way we work.

Employees should be able to make their own hours.

Are you crazy, Drew? Nobody would ever work then!

Well, while that may be your first thought, let me explain my thought process. READ MORE →

Creating More Diversity in Accounting Firm Leadership

Donny C Shimamoto, CPA CITP IntrapriseTechKnowlogies
Shimamoto,

A Q&A With Donny C. Shimamoto, CPA, CITP, CGMA, and managing director of IntrapriseTechKnowlogies LLC. 

By Liz Gold

Liz Gold: Do you think the profession is getting better in terms of more people of color in leadership positions? Why or why not?

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Donny Shimamoto: The profession is getting a little better, but there is a distinct lack of Asian-American professionals in leadership positions in the AICPA volunteer ranks.
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