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How To Grow Your Bottom Line Without Growing Your Client Roster

Accountants are tasked with looking out for the finances of their clients, but what about the growth of their own practices? A recent survey from the International Federation of Accountants found that many small- and mid-sized accounting firms...

Misclassification of Workers: What Are Your Options When You Get It Wrong?

As we embark on a new year we often use the phrase “out with the old and in with the new”. This may be the slogan that businesses perhaps should adapt at it relates to their taxes and the way they operate. What has worked in the past...

PCAOB proposal would guide lead auditors in supervision of other auditors

The PCAOB voted Tuesday to propose rulemaking that would give lead auditors guidance for supervising audit work performed by other firms and individuals in multifirm audits. The board is proposing amendments to its auditing standards that are...

GASB Issues New Guidance on Pension Accounting

The Governmental Accounting Standards Board issued guidance Monday addressing several practical issues raised by stakeholders during implementation of GASB’s pension accounting and financial reporting standards for state and local...

Accounting and Tax Firms Top List for Workplace Flexibility

It's almost the end of tax season, and most professional at accounting and tax firms are likely hunched over their multi-monitor displays for 16 hours a day, dreaming of vacationing on a private island. But some may be toiling away in the comfort...

How Accounting Firm Compensation Committees Assess Partner Performance

Firms use several methods to allocate income among the partners. At firms with 8 or more partners the compensation committee system is by far the most common. With this approach a small number of partners are elected to allocate income using...

Practice Management - An Opportunity to Grow

Providing the best client service possible is an important accounting professional mantra. Expanding your services within your client base is a common strategy. Adding new clients in your specialty or niche can be another. How do you manage your...

Inspections show high compliance with PCAOB audit committee communication rules

More than nine of 10 audits inspected in 2014 showed no failure to comply with the PCAOB’s recently issued standard on communications with audit committees, according to a report released Tuesday. In 93% of the audits inspected in 2014 for...

IRS Offers New Cash Payment Option

WASHINGTON — The Internal Revenue Service announced today a new payment option for individual taxpayers who need to pay their taxes with cash. In partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company,...

Heed this Advice for Helping Clients Resolve Their Unpaid Taxes

When it comes to getting a resolution considered during an Internal Revenue Service collection case in which the IRS doesn’t have criminal prosecution aspirations, there is only one piece of advice that fits every case. The most basic and...