Sarah Parker

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Top Stories by Sarah Parker

International Financial Reporting Standards (IFRS) After the Enron debacle, the American Institute of Certified Public Accountants (AICPA) assumed a leadership role in the rush toward an international set of accounting standards (IFRS). The long and proud independent standard setting process in the United States of America is being phased out in favor of an international standard setting process with an international governing body, the International Accounting Standards Board (IASB). So what’s the big deal? Confusing Standards? So will we have a single, simple, principles-based global set of accounting standards? Not so fast, my friend! Initially, public companies will be required to convert to IFRS while private US companies could choose to adopt IFRS for small- and mid-sized entities or could, along with not-for-profit organizations, continue to report under g... (more)

A Case for Business Intelligence

Everyone has heard the business maxim: you cannot manage what you cannot measure. No one seems to be given original credit for this quote, but chances are there are many frustrated Chief Financial Officers (CFOs) and Chief Executive Officers (CEOs) that have used it many times trying to get timely and actionable organizational insight. As organizations grow in scope and complexity, aggregating real-time data from numerous systems and converting that data to decision-ready information becomes increasingly challenging. When striving for Business Performance Improvement (BPI), Busi... (more)

Practice Management with CRM: Can You Have It All?

Over the last decade, "practice management" has become an industry unto itself.  Beyond the hundreds of private consultants and year-round seminars, we've seen a proliferation of task-specific software.  As a result, it's little wonder why many accounting firms now find themselves operating with multiple - and not always harmonious - systems.  The various applications sometimes work from different platforms.  Staff must be trained and retrained.  And as expensive new tools are added, firms must continually reinvest in IT expertise. Does it really need to be so complicated? Even m... (more)

Five Steps to Ensure a Clean CRM Database that Builds Relationships

CRM on Ulitzer When speaking with a partner of a local law firm, he lamented about their database, "Just getting our holiday card list right requires a monumental effort!"  Many times sales leads in the database are kept long past their shelf life which means they no longer hold any revenue potential and should be jetissoned. A well-known stumbling block for anyone who has worked in marketing or sales is bad data.  While there are many protective measures companies can employ to make sure they are operating with clean data such as Access Hoovers as a plug-in to Microsoft's Cust... (more)

Perception and Reality: Shedding Light on Level 3 Assets

In the winter of 2007-2008, sweeping new financial reporting standards were launched - directly into the path of an unforeseen perfect storm. Known as fair value accounting, these new rules had been years in development. They were designed to unify global standards and provide greater transparency through market-based, rather than earlier cost-based, methods of valuation. But no sooner had fair value gone into effect than markets worldwide all but evaporated in the worst economic crisis in over ninety years. As asset values drifted erratically into what analysts called a "no man's ... (more)