Xcentric Blog » CPA

CFO’s get the cloud

Roy Keely — Tue, 30 Mar 2010 18:58:42 +0000

WebCPA published an article citing CFOs reasons for gravitating towards the cloud. A good read to understand some of the “bility’s” that cloud computing presents to firms.

Flexibility
Scalability
Business Ability
Affordability

Article link here

Tagged: affordability, Cloud Computing, CPA, scalability

(Updated) Is your firm ready for the FTC’s Red Flag Rules?

Chris James — Wed, 28 Oct 2009 17:27:46 +0000

New Deadline: June 1, 2010
Read more here: http://www.ftc.gov/opa/2009/10/redflags.shtm

- Prior Post -
November 1st is rapidly approaching. Seems like no one has all the answers. We’d love to hear how your firm is preparing for the Red Flag Rules.

And, if you’re an expert we’d love to host a webinar and have you share your knowledge with the firms we serve. If you’re interested please send an email to info@xcentric.com. Thanks!

Here are some resources to review:
- FTC: http://www.ftc.gov/redflagsrule
- AICPA: Identity Theft Site

Tagged: Compliance, CPA

Where do I start with this Social Media Thing? Twitter – Facebook – LinkedIN – Too many to list

Roy Keely — Wed, 22 Jul 2009 12:20:58 +0000

The social media conversations are now common place amongst business people. It boils down to what’s in it for me & where do I start? The ‘what’s in it for me?’ thought I will have to come back to on a later post…..for now we will just talk about where to start.

First let’s discuss the basic nature of social media sites and how that may impact where you start. There are two categories in ‘lay terms’:

1. Static + Dynamic (S+D): A site that centers everything around the profile of a business or a person. A dynamic nature exists where you can network, add photos, etc but it’s not an imperative after you start your profile. To get full value from the site the dynamic must be tapped, but to get your feet wet you can start with just the static side of the equation.

These sites include: Facebook, LinkedIN, Google Local (see video), & other ‘directory based sites’.

2. Dynamic: A site that needs to be consistently updated to both drive and derive value from it. You need to think in terms of constant content creation as being the normal mode of operation. This blog would be an example of that.

These sites include: Twitter, Blogs, YouTube

So where do I start?

As a CPA you should start with the S+D sites first and, once accomplishing those with some success, you can move on to the others. It’s not as much a question of ability; it’s more about desire and commitment. The dynamic sites take a rewiring of sorts. The S+D sites can easily be a quarterly exercise where you spend a few hours getting them in tip top shape. The Dynamic sites take constant care and attention that most business people are not willing to lend it currently due to the fuzzy nature of impact towards the bottom line.

So here is my prescription for the standard busy CPA in order:

And don’t forget this one crucial element. As a business person your hub for all things Social Media is your business’s website. What shape is it in? If it’s like most CPA firms’ sites, people who work for you don’t even know it exists, let alone use it as a tool to do business & network with. That may be your first place to start!

A video on Google Local Business Center

Tagged: blog, CPA, facebook, social media, Twitter

current = currency

Roy Keely — Thu, 25 Jun 2009 13:50:36 +0000

The professional services (PS) industry is born out of a need to have expert insight into the latest information available on niche subjects. How will services like twitter shape PS in the coming years? It may not be twitter….but the concept of twitter may give rise to new ways to access the latest information that can aid your clients in decision making.

The formula in its simplest form:

current = currency

This will become an ever increasing need for CPA firms – to not only have access to current information but to have the ability to steer clients towards a decision from that current information. Waiting until it hits the current form of tax research tools may not cut it. Tomorrow’s research tools may include a twitter search option.

Tagged: CPA, Twitter