Is your firm inadvertently pushing its best staff out the door? Mark Koziel, CPA, CGMA, explains the four most common mistakes to avoid to retain talent and to best use employees’ skills. To read the full article in AICPA Insights, click: Four Great Ways to Lose Talent.
-
-
Accountants and business experts agree—if you want to create a stronger team, make a more substantial contribution to your company, and expand your sphere of influence, then you need to think outside the silo. Eddie Huffman describes how CPAs need to focus more on connecting with and influencing their management peers, not just the people above and below them. To read the full article in the Journal of Accountancy, click: Seven Tips for Managing Sideways.
-
We have all had those cringe-worthy moments on videoconference calls when a colleague or customer forgets that we can see and hear everything they are doing. It is hard to be our best selves all the time on screen, especially with videoconferences becoming more common as remote work arrangements and widespread teams become increasingly common. Lori Sexton, CPA, CGMA, provides you with four considerations for proper etiquette during a video or any other type of conference call. To read the full article in CGMA Magazine, click: Four Etiquette Tips for Videoconference Calls.
-
What is the purpose of audit planning if the audit may not ultimately follow the carefully thought out plan? As may be inferred from Dwight D. Eisenhower’s words—”Plans are worthless, but planning is everything”—the value of audit planning is not derived solely from the resulting audit plan. Daniel Gartland, risk control consultant at CNA, describes the importance of detailed planning. To read the full article in the Journal of Accountancy, click: The Importance of Audit Planning.
-
Accountants should focus on providing niche areas of service such as business valuation and retirement planning and move away from tasks including bookkeeping and financial reporting because automation and technological advances will take over much of their work. Dominic Diongson, deputy editor for AccountingWEB, explains. To read the full article in AccountingWEB, click: CPAs Should Shift to Niche Services as Automation Takes Over.
-
Fair value measurement has been a hot topic during the last few years, increasingly attributable to PCAOB identified audit deficiencies and heightening scrutiny over the existing fair value framework and related auditing standards. In this post, we take a look at the causes of attention and recent responses from professionals and professional organizations. To read the full article in Mercer Capital’s Financial Reporting Blog, click: PCAOB Inspection Scrutiny of Fair Value Measurement Continues. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
-
Regulation from 1995 requiring companies to set up representative offices in China scrapped, as vice-premier warns of new challenges ahead. As Washington prepares to unveil a corporate tax-cut plan, Beijing has scrapped cumbersome requirements on foreign businesses that have been in place for 22 years in its latest bid to woo investors. To read the full article in South China Morning Post, click: Beijing Cuts Red Tape for Foreign Firms as it Vies for Investors.
-
The college selection process can have significant financial implications, so the entire family should be involved in the decision. The difference in cost between public and private universities is substantial, and the impact on a family’s future wealth will be even larger as a result of compound growth. To read the full article in the Financial Advisor, click: Helping Clients Understand the ‘Real Cost’ of College Planning.
-
The Appraisal Foundation’s forthcoming VFR Valuation Advisory #3, The Measurement and Application of Market Participant Acquisition Premiums (Advisory #3) sets forth best practices for measuring and evaluating the reasonableness of valuation premiums applied in (or implied by) fair value measurements of controlling interests in business enterprises. Travis Harms, Mercer Capital’s Financial Reporting Valuation Group lead, explains this topic. To read the full article in Mercer Capital’s Financial Reporting Blog, click: New Market Evidence Confirms Control Premium Best Practices. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
-
Seemingly overnight, the internet of things (IoT) has become a technology buzzword, challenging businesses to embrace a technology in its infancy before they can firmly grasp the pitfalls and opportunities involved. Sylvia Edwards Davis explains this concept and what to do to propel your business forward. To read the full article in CGMA, click: How to Stay Ahead of the IoT Curve.
-
Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses (Notice 2017-54). The new rates will be in effect from Oct. 1, 2017, to Sept. 30, 2018. Sally Schreiber, Journal of Accountancy senior editor, explains. To read the full article in the Journal of Accountancy, click: IRS Updates Special Per-Diem Rates for Business Travel.
-
The first three quarters of 2017 were active for U.S. markets. Major indices were characterized by low volatility and upward momentum against a backdrop of tightening monetary policy and strong economic indicators. Private equity saw steady deal flow despite challenging market conditions, and record levels of venture capital deployment were seen amidst declining deal volume as capital continued to gravitate to the unicorns. With one quarter left, we take a look at market activity during the first three quarters of 2017. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Market Trends: 3Q17 Update. This article is…
-
FASB and the International Accounting Standards Board designed their converged revenue recognition standard to enhance comparability across industries. But the standard has presented different implementation challenges to the various business sectors. Ken Tysiac, Journal of Accountancy editorial director, explains. To read the full article in the Journal of Accountancy, click: How Revenue Recognition Changes are Affecting Preparers Like GE, Microsoft.
-
Help Clients Kick-Start Their Charitable Efforts Here is a look at questions to ask and tactics to consider while working with clients who want to engage in charitable giving. Among other strategies, clients may want to consider making multiyear gifts or donating to international causes. The Adviser’s Guide to Financial and Estate Planning, Volume 1, has an entire chapter dedicated to helping you learn about charitable giving strategies. To read the full article in WealthManagement, click: Tips for Giving While Living.
-
We have recently discussed the changing dynamics of the IPO market and startups’ shifting perspectives in regards to going public. Public offerings have not all gone wrong this year, but latest rounds of unicorn IPO flops appear to have dampened some investors’ outlook on the traditional IPO route. Nevertheless, unicorn investors still need liquidity and are turning to creative ways to get the IPO pipeline flowing again. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Social Capital’s Backdoor Unicorn IPO. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To…
-
Personal commitment and synchronized teamwork is what it takes to be an active member of professional associations. The work may not be physically challenging, but when you partner together and work towards a similar goal, you can achieve great things. To read the full article in CPA Practice Advisor, click: Five Reasons You Should Join a Professional Association.
-
Effective Exercises for Diversity Training Evidence suggests diversity training that asks employees to see the world from others’ perspectives or to form specific goals is especially effective. The personalities of employees might affect which techniques provide the best results for them. To read the full article in Harvard Business Review, click: Two Types of Diversity Training that Really Work.
-
Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program. Treasury says it is notifying participants about the ending of the program and giving them information on how to move their myRA savings into Roth IRAs. To read the full article in The Tax Adviser, click: Treasury Ends myRA Retirement Savings Program.
-
Legitimate customers and transactions are being hit hard by a system designed to stem the flow of dirty money. Many international banks have pulled in their horns since the global financial crisis, lending less and shedding customers. To read the full article in The Economist, click: The Unintended Effects of Rules Aimed at Stopping Financial Crimes.
-
Beware of conflicts and gossip, which can damage your career. Office gossip and drama can lead to professional discord, reduced productivity, lower morale, and a breakdown of teamwork, collaboration, and good customer service. Cheryl Meyer explains the pitfalls of this potentially disastrous practice. To read the full article in AICPA, click: How to Steer Clear of Office Drama.