With the explosion of new social media platforms over the last five to seven years, a dilemma has arisen for business owners in search of new customers or clients.  Is the standard company website obsolete?  Should businesses be reaching out to potential prospects through platforms like Twitter and Pinterest?  With Facebook standing at 500 million accounts, many companies are abandoning their standalone web ...

The onslaught of new phones and apps and their related potential for financial crime This article examines the high cost of convenience in regards to constantly evolving smart phones, iPads, and other personal communication device applications. The intentional (and unintentional) transfer of sensitive data between individuals happens in seconds. The author lays out the double-edged benefits of such technolo ...

BlackBerry’s patent portfolio is one of the most diverse in the technology industry and is possibly the company’s most valuable asset. Sifting through its thousands of patents reveals a host of innovations in all areas of mobile technology, ranging from user interfaces to battery efficiency and data compression. Some 80 per cent of BlackBerry’s patents are the result of the company’s own research efforts. ...

A cheap price of admission for electronic client files Everyone understands the risk their firm faces from hackers and cyber thieves lurking in the shadowy places of the Internet. What they might not know is that the greatest, and most common, technology threat is posed by their own clients. In this article, the author retells the story of how his entire business data system was taken down by a trusted clie ...

Cloud Computing Choices & Preference In this final installment of her five-part series on transitioning to a virtual office, Simone Hoover explains the types of contracts involved with cloud service and what every business owner should ask before making a commitment. ...

Business development concerns outpacing technical issues A new survey by the AICPA reveals that priorities for forensic and valuation services (FVS) professionals have changed significantly in just the last three years. The report details what’s most important to them today and why it may not have as much to do with the economy as you think. ...

It's No Surprise Mobile User Behavior Is Evolving As digital media technology evolves at an ever-increasing pace, so does the user habits of consumers.  In their new report:  "iConsumer:  Digital Consumers Altering the Value Chain," McKinsey & Company describe six over-arching trends in digital usage behavior that they believe will significantly impact the industry value chain.  These include shifts in ...

Specific Needs of the Remote Office Environment In this fourth installment of her five-part series, Simone Hoover details the essential software, platform, and communication devices when transitioning to a remote office environment to maximize workflow and peace of mind. ...

The states, in an amended complaint, challenged only the portion of Dodd-Frank that empowers the Treasury secretary to order a liquidation of a financial company whose collapse may threaten the stability of the banking system. U.S. District Judge, Ellen Segal Huvelle recently dismissed a lawsuit brought by 11 states and a Texas-based bank, challenging Dodd-Frank’s financial regulations, specifically those t ...

Preparing yourself and your clients for a natural disaster By taking steps before a natural disaster strikes, the firm can position itself to thrive in the aftermath. A meeting with your casualty insurance professional is suggested. The agenda should include a review of the current coverage and discussion of changes in your firm operation since the last review. ...

Virtual firm tools and digital technology removes barriers and excuses In this third installment (moving toward the virtual firm) of her five-part series, Simone Hoover examines who is the best candidate for a virtual firm transition and the logistics to consider for both remote employees and business owners. ...

Digital technology removes barriers and excuses In this second part of her five-part series, Simone Hoover provides an in-depth explanation of the technical language surrounding online cloud services, contractual conditions and the literal forces of nature that pushed her into the virtual office environment. ...

Digital technology removes barriers and excuses Most professional services organizations are already adopting some form of digital identity. It takes just a bit more to embrace the cloud and reap the benefits of becoming a virtual firm. ...

Has the new federal tax regime set forth the grounds to reconsider an ESOP? An ESOP is a qualified retirement plan that can use debt financing to buy company stock from the company’s owner(s). It’s a serious option for any business owner who wants to liquidate some or all of his or her ownership. Martin Staubus reviews how ESOPs work, as well as the benefits they provide to buyers (employees) and sellers (o ...

An ethical duty to ourselves, the profession, and our clients Business appraisers owe each other, the profession, and clients a duty to behave ethically and set aside our own biases and self-interest. ...

Book Review ...

Five key questions to determine whether it’s time to switch to a digital system At many firms, practice management software is often referred to as the “last frontier”, according to Matt Jagst, Director of Enterprise Product Management in the tax & accounting business of Thomson Reuters. Most firms manage to get by with outdated systems and processes. Switching to digital software that integrates time, ...

If IRS Imposes a Penalty, That Penalty Cannot be Negotiated as Part of a Settlement on Another Tax Matter  The Internal Revenue Service is opposed to negotiating penalties with noncompliant taxpayers, a stance that should benefit appraisers and tax advisors because individuals will be required to assume more responsibility for their deductions, Bloomberg BNA (subscription required) reported this month.   Ap ...

How to Work with Generation Y Lawrence Horwich explains what interests Gen-Y employees and how to create an environment within your firm to engage their interests. Find out more.   ...

A Calculation of Value is Not an Opinion or a Conclusion Dave Cooper and Bob Brackett answer common questions about standards and compare calculations of value to other services provided by valuators. Read more.   ...