Find value in what you love: One tax CPA’s value pricing story

Shutterstock_200540525In 2006, Dominique Molina, CPA, had a revelation: she was working too much.

It was busy season, and like many nights, she was working late from her home office. As the owner of a successful tax firm in San Diego, she felt a great pressure resting on her shoulders.

In a laser-focused, deadline-driven push to the end, her 3-year-old son put everything in perspective.

“My son came into my office and started to ask me a question,” Molina remembered. “But he stopped himself and said: ‘Never mind. I’ll go ask Dad.’ I was crushed.”

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Demystifying unicorns: How startup valuations really work

Shutterstock_386762398Near daily headlines tout the massive valuations of startup companies and their potential public offerings. Some of these entities are valued well into the tens of billions of dollars. Private market investors continue to pump money into technology-based companies with the hope of cashing in on the next unicorn—rare startups valued at more than $1 billion.

At the same time, many of these companies have yet to produce positive net income, with some reporting growing quarterly losses in the millions of dollars. What’s more, some of these organizations are lacking clearly defined plans for how to pull a profit from their operations.

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Flip the switch on non-conformity with 5 free audit quality resources

IStock_85468875_XXXLARGEYou strive to perform top-notch audits of your clients’ financial statements. You research the company and their industry, meet with the client, gather necessary information and develop and execute a plan. Having resources on hand can streamline the process.

Five years ago, the AICPA formed its Enhancing Audit Quality (EAQ) initiative and changed how we develop resources to help auditors. The EAQ team, working with the Audit and Attest Standards, Peer Review, Engagement and Learning Innovation, Center for Plain English Accounting, and Assurance and Advisory Innovation teams, analyzes data from peer reviews and other sources, identifies where noncompliance with professional standards occurs and develops resources to help firms in those areas.  So far, we’ve focused on: risk assessment, internal control, audit documentation, employee benefit plan audits, peer review, quality control, single audits, SOC engagements and auditing accounting estimates.

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Close any deal with these human intelligence skills

Shutterstock_653243854So, you’ve made it through the first round of interviews for your dream job — or maybe you’ve made an initial pitch to a prospective new client and now it’s time to close the deal. You want the job, and are more than qualified for it. But is that enough?

Think about the Ivy League college application process where most applicants are qualified but only a fraction are selected. In this case, even though you’ve already proven you have experience and the knowledge to knock the job duties out of the park, closing the deal can come as a challenge.

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3 FAQs on the hosting services ethics interpretation

IStock-475647111When I started working in public practice more than 20 years ago, “the cloud” referred to something in the sky, not storing data over the internet. Things have changed. Our profession has and continues to benefit from technological advances like the cloud, and the AICPA Code of Professional Conduct is evolving just as practice is.

The code was written before wide adoption of current technological advances. To keep pace with change, we’ve developed guidance for members who act as custodians of their clients’ information—members who store and maintain their clients’ information for them.

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