Accounting Today - November 15, 2010

Vol. 24 I No. 15 I Nov. 15-Dec. 12, 2010

CHOOSING A BROKER-DEALER p. 10

With demand recovering, broker-dealers are reaching out to help CpAs get into financial planning

2010 PACESETTERS p. 24 Our annual list of top-flight accounting and ERp resellers shows them surging back

accountingtoday.com

PAYROLL’S CHANGING p. 35 New rules make payroll more complicated; new tools make it more profitable

Approval of a resolution to sup- port the creation of a GAAP model for private companies and a separate standards board, a revamp of the CPA Vision project and the election of the new 2010-2011 chairman highlighted the Fall Meeting of Council of the American Institute of CPAs, here.

At the meeting’s spirited opening session, members of the Blue Ribbon Panel, whose task is to discuss standard-setting for private companies, held a panel discussion updating its work so far. It would later set the stage for a resolution that Council ultimately

A look forward

See AICPA on 53

BY LIZ GOLD / NEW ORLEANS

AICPA Fall Council focuses on private standards, new regs and the future

ON THE RISE RESELLING IS JUST THE START FOR BOOMING TECH CONSULTANCY NET@WORK See page 8

Bridging the generation gap in tax season

ICPAS chief Elaine Weiss speaks out on keeping younger staff engaged — and working

This month the Illinois CPA So-

ciety is launching a new program,
“Generating Results from Your
Generation Y Staff ,“ that is geared
to help young accountants un-
derstand how to deliver a better
return on investment for their firm
through bridging the expectation
gap and better communication
between themselves and their se-
nior partners — especially during
busy season.
In a tough economy where most
partners are focused on keeping
their firms afloat, it can be chal-
lenging to deal with a new genera-
tion that is casual in attire, casual
in communication and casual in
their approach to the workplace,
according to Elaine Weiss, presi-
dent and chief executive of the Il-
linois CPA Society. What’s impor-
tant to point out, she said, is that
this new generation is every bit as
dedicated to doing a good job.

“It is not accurate to say the
younger generation is not com-
mitted professionals wanting to do
the very best and serve the client,”
she said. “I truly think it is com-
munication and different values.”
For Weiss, partners who roll
their eyes at this issue or, worse
yet, sweep it under the rug, are do-
ing themselves a grave disservice.
“For those who think this isn’t a
priority, I think that’s short-sight-
ed, because the economy is going
to remain challenging for a very
long time and you need to keep
the best and brightest staff in order
to keep your business and clients
happy. It’s very much a bottom-
line issue.”

Accounting Today talked with Weiss about her thoughts on the generations — Baby Boomers and Gen Y specifically — and while it’s the partners who she often hears sharing concerns about their younger staff, she is quick to explain that the relationship goes

See gAP on 51

BY LIZ GOLD

Filing season issues emerge

Continued growth in the do-it- yourself tax prep market, ongoing federal and state e-filing mandates and the Internal Revenue Service’s discontinuation of a debt indicator to facilitate refund anticipation loans will affect both preparers and their software providers during next year’s filing season.

“Last filing season the growth in the DIY market was 10 to 12 percent, while the year before it was 20 percent,” noted Gene Golden-berg, vice president of marketing for CCH Small Firm Services.

“Our research indicates that people who are doing their own returns are moving back and forth between DIY and using a paid preparer,” he added. “The percent of taxpayers using a paid preparer held steady this past season at 62 percent. The demographics of the do-it-yourself market remain