Blog Large2017-05-23T13:53:46+00:00

Financial Reporting After Disaster

As if their names and depressing social media posts weren’t enough of a pain, natural disasters cause so much drama. Physical damage to property and land in the wake of a natural disaster is what’s on the surface (things so aren’t selfie-ready now). As if the need for soothing filters weren’t stressful enough, subsequent financial reporting, needed to address any impairment in the aftermath of a seismic event like a major hurricane or wild fire, can be a daunting yet necessary task. Following any imperiling event, there will inevitably be a myriad of crucial insurance issues. Ugh, more drama. “A lot of these are primarily related to companies that have incurred losses, and they’re really just trying to determine what type of insurance recovery they may have. Part of the challenge is determining first of all the type of loss that a company has recorded and is it even [...]

Ensuring Your CPA Exam Isn’t All Uphill

Think about it. You can either start training to be a ski jumper (one of the top hardest events) for the 2018 Winter Olympics in Pyeongchang, somehow qualify last minute, or sneak in (and good luck pronouncing “Pyeongchang” to prove you belong there). Or, you can be a true stunner and become a CPA, which entails just about the same amount of diligent preparation and perseverance. “The 2014 CPA Exam Pass rate statistics tells us that on average, the pass rate is just under 50%, according to the AICPA. But that also means that there are 50% of people who are passing the exam,” the Roger CPA Review intimidatingly points out. Don’t go running to the nearest indoor ski slope, hoping for a face plant to avoid future challenges. There’s hope! Here are some ways to avoid virtually biting it on the CPA exam. Stick to a Black Diamond [...]

Recruiting Trends For 2017: A Continual Staffing Boom

Between domestic skepticism and an administration pierced with ongoing investigations, disintegrating icebergs, Brexit and the demise of Aaron Carter, these seem like apocalyptic times for most. However, the forecast for the recruiting world looks promising as 2017 builds on surges experienced in 2016. “2016 was a good year for staffing firms. More than three-quarters of respondents surveyed at the tail end of 2016 expected to meet or exceed 2016 revenue goals. Still, more than one in five (22 percent) anticipated a revenue shortfall for 2016,” according to Bullhorn. That shortfall didn’t happen, rather more than 75 percent of staffing and recruiting firms met or exceeded their revenue goals for 2016. The Power of Déjà Vu The latter is in part due to exceptional growth garnered from temporary placements. Thanks to recurring clients facing talent shortages in key sectors, this business will be crucial for firms since most predict existing [...]

Being A Public Accountant: A Series of Benefits

OK, so you’re a public accountant and you’ve had it. You are ready to audition for whatever reality show you meet the age requirements for. Or better yet, invest in a GoPro and create your own series documenting accountants in their natural habitat, if you’re not one of them. Either way, you’ve hit a brink and it’s one that binging on Netflix and carryout food during off hours can’t remedy. But before you become the next CPA turned Bachelor or Bachelorette, consider the bigger (magnified in hi-definition) picture. Calculating Mixed Reviews “There’s no shortage of motivating factors for leaving public accounting, from the poor hours to the hyper-competitiveness to the twisted fact that in an industry where value is measured by chargeable hours, intellect and efficiency are not necessarily positive attributes. Justifiable reasons, all,” as Toni Nitti bluntly asserted in Going Concern. Also pointing out, “changing jobs within public [...]

The True Cost Of Not Hiring A Top Dog

Imagine you encounter a puppy untagged and enthusiastic to be found. You are quick to give this new pet a home that’s sure to be what you’ve both been looking for, complete with necessary training to make he or she your ideal companion. You invest a great deal of time, attention and money into what has the potential to be a very long and fruitful relationship. A couple weeks in, your trusty canine is now potty trained, sitting for treats, behaving on walks and staying off furniture. It’s ideal! Until a child neighbor comes knocking on the door proclaiming they’ve recently lost their dog, the same dog you’ve taken in as your own. You must say goodbye. Now replace the puppy with an employee you’ve wrongfully hired—one that joins the team potty trained of course. You don’t think it’s a bad decision at the start. You both have the [...]

Accounting: Life After Tax Season

It’s the profession that probably made the short list when kids were asked what they wanted to be when they grew up: “doctor, lawyer, nurse, trapeze artist…accountant.” Those mathematically inclined, or into circus aerobatics that is. Whether or not it was a favorite at career day in middle school, accounting is a popular and essential profession—especially during tax season. Once all the numbers are crunched, deadlines are met and clients are (Uncle Sam willing) happily collecting refunds, the wake of tax season can leave an accountant feeling like an elementary school teacher who’s been bum rushed by a coup of third graders on sugar with no recess. While there are indeed ways accountants can prepare for their busy block of the year, and sanely get through long hours and high demands, that time between January and April 15th has an inevitable impact on the numbers professional. One facet of [...]

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