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CALIFORNIA

Capital market regulations often have unintended consequences.

100-year flood

Stolen battle plans

In February, the Securities and Exchange Commission issued a Commission Statement in which it made it clear that it believed that a single set of high-quality globally accepted accounting standards would benefit U.S investors, and in which it directed its staff to execute a workplan to help evaluate the impact IFRS might have on the securities market.

Washington, D.C. - If the profession was expecting the Public Company Accounting Oversight Board to step gingerly after weathering a Supreme Court ruling that could have padlocked the audit overseer, or at least radically altered the way it operated, the board has been anything but timid.

PLANNERS PUSH TO EXTEND FIDUCIARY STANDARD

Today, many professional firms have a sobering problem when it comes to older partners. It can be difficult enough to negotiate a sale of an owner’s interest, and finding a way to pay for it is an even greater challenge.

Members of the accounting profession and providers who serve the profession share something in common: value. Practitioners and solution providers want the very best for their customers and clients, often pushing each other to use and develop technologies and processes that breed excellence.

The numbers tell the story and it all boils down to time management. If you bill for your time directly or on an hourly basis, diligent timekeeping is something you must do in order to get paid for all of the work you perform for clients. If you bill on a fixed-fee basis, accurate time records help determine how profitable specific clients and projects really are - and if they're unprofitable, time records help us realize the viability of a client for the long term.