the recession catches up with accountants
the crashing economy is starting to show it’s effects on tax and accounting employment, typically among the last of the economic sectors to be hit in a recession.
the crashing economy is starting to show it’s effects on tax and accounting employment, typically among the last of the economic sectors to be hit in a recession.
even in a recession, hiring never stops. and especially in a recession, it’s never more important to get it right.
here are seven tips from the oklahoma society of cpas:
1 – welcome new employees before their official start date. though a basket full of goodies would be nice even a small hand-written note from the employer expressing gratitude to the employee will work.
2 – before the new person starts, announce the hire internally and provide background on the new team member and encourage fellow employees to make the newbie feel welcome.
3 – on the first day, the employee’s supervisor should be available to take him or her to lunch and introduce him or her to other employees. if this isn’t feasible, assign this role to a colleague. failing to do so sends an unpleasant message.
4 – ensure that the new employee receives a complete organizational briefing.
5 – be sure the office is clean and orderly, business cards are ready and computer passwords have been provided.
6 – explain the organization’s business goals and make sure the new employee understands how vital his or her role is to their achievement.
7 -clearly establish goals for the employee and check progress.
what are your new year’s resolutions? add your comment here.
by rick telberg
the new year always feels like the right time to reflect and then identify a few key strategies to break some bad habits, set new goals and improve skills – both professionally and personally. the question remains open: what are your new year’s resolutions?
while you consider your answers, check out these from professional colleagues around the world and let us know what you think.
i have plenty of items to pick from, but i think my commitment will be:
professionally – explore new avenues of delivering value to our clients using technology in a new way. web delivery, video conferencing and online communities, to name a few will be areas that i will be concentrating on in 2009.
the sba released a reference guide (pdf, 106 pages) to small business activity that includes state level detail.
a lot of good information including:
“these numbers clearly illustrate the growing role the small business sector is playing in the us economy,” according to small business labs: interesting small business facts and data from the sba.
marcus, the reigning guru of professional services marketing, has a few tips for marketing into a recession. well worth reading, remembering and using:
full article at the marcus letter.
by webcpa staff
more than a third of cpa firms plan to supplement their workforce in the next 12 months, according to a newly released survey.
the survey, by the american institute of cpas’ cpa2biz unit and the bay street group, found that only 16 percent of the cpa firms polled plan to reduce their headcount next year. meanwhile, nearly half the firms polled intend to keep their headcount steady.
nevertheless, the economy is prompting more tax and accounting professionals to look for new jobs in cpa2biz’s online career center. twenty percent of the cpas polled reported concerns that their firms were downsizing.
see the original at webcpa.
cpas list goals for 2009 – both personal and professional.
comment here: what are your new year resolutions?
by rick telberg/at large
accountants the world over seem to be breathing a sigh of relief that 2008 is finally over. they’re looking forward to a fresh start and better business conditions in 2009.
but that’s not all. like most everyone else, accountants are also looking to make and achieve new goals in life as well as business.
a few weeks ago, i issued an invitation on linkedin, the huge and growing networking site for professionals, for ideas on new year resolutions. i was blown away by the number of responses and the thoughtfulness of the resolutions. and they came from the world over – from all across the united states and from mexico, india and south africa.
there’s no smart at smart, says bowman. (subscribe here.)
james j. smart, who founded the firm smart & associates as a sole owner in 1998 and expanded through creative acquisition to a 600-person firm with more than $100 million revenue, is out at smart business advisory and consulting, according to today’s bowman firstalert. steve m. samek replaces smart as ceo-president.
great hill partners, the private equity firm that bought 80% of the firm in may 2007, reportedly asked him to step down. smart isn’t upset. “that’s private equity playbook 101. you replace the ceo who founded the firm with your own person,” he told the philadelphia business journal. “i’m proud of the organization i built and the people there. it’s tough to leave. the next target would have been an ipo and that’s still a long way off. this is a good time for a handoff. there’s not as much acrimony as one would believe.”
to get the firm to ipo, bowman says, samek will need a little more success than he’s had since he was mp at arthur andersen. after aa folded, samek became ceo-principal of fulcrum capital, a strategic and financial consulting and investment firm. for the past couple of years, samek was ceo of chicago-based uhy advisors, a firm with similar issues to sbac including moving into an ipo.
samek, who lives in chicago, will divide his time between sbac’s devon, pa., headquarters and the firm’s chicago and new york city offices. smart, who has a five-year noncompete that runs through may 2012, is meeting with members of the local private equity community in hopes of running another business. he has little interest in re-entering the accounting profession. “i’ve done that,” smart says.
if there’s one thing cpa david friehling really couldn’t stand, it was a cheater.
at least that’s what bernie madoff’s auditor-of-record says in a column he wrote for “the trusted professional,†the newsletter of the new york state society of cpas.
here’s the entire column from april (at the ny cpa society)
cheating on taxes is cheating ourselves
by david friehling, rockland chapter president
i assume we are all deep into tax season. i took a minute to step back the other day to think about what i was really doing: enabling our government to collect money. government uses our funds to operate departments and services that support the common good. we are all provided with roads, street lights, defense and recreational opportunities. some of us are also provided with various forms of assistance – and if not us, our elderly parents, or disabled friends and neighbors, etc.
when we see our clients and they ask us to stretch the truth, we are just cheating ourselves. read more →
how a solo cpa finds success and happiness working from home.
by rick telberg
with past recessions as a guide, it’s easy to predict that more cpas will be working harder and longer in 2009. and many of those work-hours will be spent at home or on the go.
whether you’re climbing the corporate ladder or launching your own practice (or both), you’ll need to know how people succeed at it.
so it’s worth checking in with veteran soloist, harry c. ballman, mba, cpa/pfs. ballman has been soloing since leaving the big eight in 1978. ballman is a past president of the washington, d.c., cpa society and currently an elected member of the governing aicpa council.
here are ballman’s suggestions for going it alone: read more →
aicpa: madoff’s auditor claimed it didn’t do audits. ethics probe launched.
friehling & horowitz, the small new york auditing firm that certified the financial statements of bernard madoff investment securities, has been telling the aicpa for 15 years that it doesn’t perform audits.
by denying it did audits, the firm avoided reviews by the aicpa. new york is one of only six states that doesn’t require accountants to be peer-reviewed. “the plain fact is that this group hasn’t submitted for peer review and appears to have done an audit,” said aicpa spokesman bill roberts, noting the institute has now launched an investigation into the firm.
because of the madoff scandal, new york state is moving to join the ranks of peer-review states.
within just a few weeks of ending an 18-month absence in new york with the acquisition of mahoney cohen & company, cbiz is filling a huge hole in boston by acquiring cambridge, mass.-based tofias, according to bowman’s accounting report. subscribe here.
the two transactions add about $93 million to cbiz’s top line. in addition, the deals reinforce cbiz as a major player in acquisition deals, says allan koltin, the chicago based consultant. it also establishes a high-bar for making an acquisition. cbiz is paying premium prices for the practices.
stay tuned. bowman’s soon will report additional insight into the acquisitions.
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