Succession planning

The beginning of your succession planning needs to start with an honest evaluation and plan to address the business fundamentals associated with the new economy.

Check out the digital edition of the August 2013 issue of Accounting Today.

Partners may leave, but business shouldn't

CPA firms are wrestling their way through partner retirements and the accompanying succession issues in numbers that the profession has never seen before.

Amit Jain of ADP Small Business Services discusses the challenges of growing an accounting practice, retaining clients, increasing cash flow, recruiting and retaining staff members, and dealing with regulatory complexity, in an interview with Accounting Today editor-in-chief Daniel Hood.

Management consultant and veteran VAR Terry Petrzelka answers some key questions on how today’s VARs differ from even just a few years ago and how they can and need to progress to remain in business.

The American Institute of CPAs’ Private Companies Practice Section released the results of its 2012 PCPS Succession Survey not long ago, and it provides us with data from nearly 1,000 firms across the U.S. on how they are dealing (or not) with succession.

Seven in 10 business owners in the United States expect to exit their company in the next 10 years, according to research from SellabilityScore.com. When we asked business owners who they would turn to for advice on selling, 64 percent said they would seek the advice of their accountant, thus ranking the CPA as the most trusted professional among all of the advisor categories we measured.

Theodore J. Flynn, the longtime president and CEO of the Massachusetts Society of CPAs, plans to retire at the end of 2013 after 43 years of leading the organization.

PricewaterhouseCoopers US has published a new edition of its annual guide, “Managing Your Wealth: Guide to Tax and Wealth Management.”

The majority of CPA firms experienced an increase in revenue growth, according to a new survey by the American Institute of CPAs and the Texas Society of CPAs.

Nearly 80 percent of multiple-partner CPA firms believe succession planning will become a major issue for their firms, according to a new survey by the American Institute of CPAs.

There are basically two types of succession plans. one addresses the transfer of the practice at a time of the owner's choosing. The second addresses a transfer in the event of death or disability of the owner - a disaster.

CPACA Leadership Study Says Communication Key, Integrity Essential

Top 100 accounting and business consulting firm Moss Adams announced Chris Schmidt as its next chairman and chief executive officer and Dick Fohn as president and chief operating officer in a planned transition that will take effect in the first half of 2013.

As part of our Top 100 Most Influential People in Accounting report, we asked the candidates: "What is the most important issue currently facing the accounting profession?" Here are their answers.

J.H. Cohn CEO Tom Marino said Wednesday that his firm will remain in the Nexia International accounting firm network after it merges in October with Reznick Group, and will be renamed CohnReznick, with him and Reznick managing principal Ken Baggett leading the combined firm as co-CEOs for the next three years.

David R. Williams, head of the Internal Revenue Service’s Return Preparer Office since its inception three years ago, is leaving at the end of August.

Odds have now turned against those hoping that the health care law passed in 2010 will "just go away."