Over the past few years there’s been exponential growth in the sharing economy, characterized by collaborative consumption where we share space, cars, skills, whatever.
This year has so far proven to be a difficult one for stock markets. Many indices are lower, some with double digit losses. The main culprit is economic uncertainty, triggered primarily by increasing concern over an economic slowdown in China, the
The acquisition of new clients continues to be a dominant driver of profitability for small- and medium-sized practices (SMPs), according to recent poll results. These results seem to question is the wisdom of many practice management “gurus” who say that the cost of acquiring a new client is far higher than the cost of retaining, or selling more services to, an existing client. While the poll shows that retention is also important, what those “gurus” may be failing to recognize is the full potential and cost effectiveness of a marketing campaign that includes low-cost social media.
In many jurisdictions, perhaps most noticeably in recent years in Europe, the emergence of a “think small first” mentality has resulted in a light touch approach to policy and regulation for small businesses, releasing them from the obligation to have an audit, and from many financial reporting requirements. This begs the question, how can accountants best support small- and medium-sized entities (SMEs)?
Small- and medium-sized entities (SMEs) might think that sustainability is only relevant to large companies—that for a small business, the administrative and financial costs outweigh the benefits. Moreover their accountants will tell you it is a hard sell getting SMEs to embrace sustainability. However, SMEs that integrate sustainability into their core business strategy can benefit from lower costs, reduced risk, and new opportunities. And their accountants, typically operating in small- and medium-sized practices (SMPs), can play a key role in their journey.
In May-July 2014, the IESBA will be holding a series of three global roundtables to gain additional feedback on its project to address professional accountants’ responsibilities regarding the disclosure to an appropriate authority of suspected non-compliance with laws and regulations.
In a few short years, smartphone applications have gone from margin to mainstream. Many accountants now regularly use them to make work and life simpler and less costly. Today there are countless apps available to help improve productivity and access to information. These apps help us arrange business travel, network with clients and colleagues, store and share information, and more. There are reckoned to be over a million iOS apps in Apple’s App Store and possibly even more Android apps in Google Play. So we are spoilt for choice—but left wondering which apps to choose.
Much has been and will be written about the economics of the World Cup; see who readers voted as the financial winner in our poll results.
Part One of this two-part series looks at selecting KPIs, while Part Two will look at benchmarking and using the data; Which KPIs does your practice use as benchmarks?
Part One of this two-part series looked at how to select key performance indicators; Part Two looks at benchmarking and using the data.