Succession Planning – Next Steps
Don't miss the FPANJ's Panel Discussion "Succession Planning - Next Steps" on June 15th, featuring Glenn L. Friedman and Steven Bernknof.
Why a Quality of Earnings Assessment Is a Must for Sales and Acquisitions
By: Robert O. Mayer, CPA
What is the value of my business? What’s the right sale price? What data do I need to present to justify that price? From a buyer’s perspective, what’s the right acquisition price? Is the company as financially sound as it appears?
By: Robert O. Mayer, CPANaura Hill2022-06-02T15:33:10-04:00
Why Business Communication and Responsiveness Need Clarity and Consistency
When the telephone was the primary mode of business communication, people would expect a call back in a day or two, depending on the nature of the call. When email became the dominant form of communication, that window to respond shortened to 24 hours at most.
Why Your Team’s Families Are Such an Important Part of Your Organization
Until recently, most leaders would probably say that the people who comprise their organization are the ones who show up to work and collect a paycheck. That couldn’t be farther from the truth. After all, where would your team be without the families and support systems behind them?
How to Overcome Obstacles to a Smooth Transition When Partners Retire
Every accounting firm goes through a lifecycle in which partners approach the end of their careers and emerging leaders take on their responsibilities and relationships. When properly managed, this can create a win-win-win situation. The partner can retire with peace of mind, rising professional advances in his or her career, and the organization benefits from a seamless transition in leadership without compromising the level of service delivered to the customer.
Achieving Work-Life Well-Being: Organizational Support, Individual Responsibility
One could argue that the concept of work-life balance originated way back in 1817 when Welsh manufacturer and labor activist Robert Owen suggested dividing the day into three equal parts – eight hours of work, eight hours of recreation, and eight hours of rest. Of course, there wasn’t much balance before the Industrial Revolution as people worked an average of 65 hours per week. Farmers lived at the farm. Shop owners lived above the shop. Most of the modern barriers between work and life didn’t exist.
How do you solve the shortage of succession plans? Make one
Since the audience for this article comprises accountants, let’s start with a number: 35%. What is that? It is the percentage of organizations in the United States that have “a formalized succession planning process.” Meaning just a little over one-third of U.S. businesses are prepared for....
How Recognition and Appreciation Change Lives for the Better
If the pandemic has given us one positive, it’s perspective. Frankly, the business and the work are just the business and the work. The health and well-being of real people – physical, mental, and emotional – are far more important.
Relationships Matter, Especially in Business
A team member recently told me about their battle with dieting and cookies. Like many of us, the time spent in quarantine this past year was not kind to their waistline, and they resolved to get back into shape by steering clear of snacks.
How Should a Leader Respond When a Top Performer Decides to Leave?
“Did you hear Michael is leaving? That’s a huge loss! You can’t replace someone like that. Somebody screwed up big time. What do we do now?” This is a fairly common emotional reaction in the lunchroom when a top performer leaves
Pandemic Telecommuting And The Tale Of Two (Or More) States
More than a year ago, the nation and many states required businesses to shut their doors to employees and customers due to a growing national emergency. People began to work from their home or other property,
HHS Funding for Healthcare Entities is Subject to Audit and the Guidance is Not New
2020 created disruption in ways that were inconceivable before the pandemic. And probably more so for healthcare entities than any other industry. As our hospitals and healthcare providers have focused on caring for us,
Good News for Healthcare Entities Regarding HHS Funding Audits: Nothing New, and Maybe No Audit at All
As anyone in the healthcare field knows, the demands of the pandemic stretched and strained their resources, both human and financial, at unprecedented levels. To meet the task of caring for those afflicted by COVID-19,
The Single Biggest Challenge for Remote Teams in a Post-COVID World
After an in-person interview, we learned a new hire had a family member with COVID-19. As a result, the skeleton crew that had been working in that Prager Metis office had to go back to working remotely.
Why Business Leaders Must Help Individuals Embrace and Navigate Change
About 2,500 years ago, the Greek philosopher Heraclitus said, “Change is the only constant in life.” He famously asserted that “life is flux,” Panta Rhei in Greek, which means all things change.
Webinar: Where Are We Now? An Update on COVID-19 Relief, Tax Law Changes, and PPP Loans
Join Prager Metis experts on January 6, 2021, to discuss the latest COVID-19 relief measures, PPP loans, and numerous tax law changes.
The Simple Math Behind Delegation
One of the biggest challenges that causes leaders to struggle is the inability or unwillingness to delegate. In many cases, leaders think they can only succeed by delegating to someone who can replicate their performance.
The Rubber Band Theory and the Pandemic: Will Business Snap Back to Pre-COVID Norms?
The rubber band theory has been applied to many areas of business and life, from investing and leadership to personality traits and dating. I’ve been thinking about the rubber band theory as it relates to the changes we’ve experienced
Respect, Safeguard, and Value Your Time, Your Most Precious Commodity
During an interview with Bill Gates and Warren Buffett a few years ago, Gates was asked what he has learned from his fellow billionaire. Gates discussed the time Buffett showed him his paper appointment book, which was mostly empty.
How to Approach Goal Setting to Drive Growth and Success
In Stephen Covey’s book, 7 Habits of Highly Effective People, this is habit number two. The idea is that the activities of an individual or organization should be driven by the end goal. What are you trying to
Remembering Prager Metis Founding Partner Jay Spitz
As I share my thoughts month after month about the importance of the human element in business, I feel compelled to remember my former partner and, more importantly, my friend, Jay Spitz, who was taken from us far too soon.
As the Pandemic Moves Us “Back to the Farm”, What’s Old Is New Again
"One of the technologies Vice President Al Gore is pushing is the information superhighway, which will link everyone at home or office to everything else – movies and television shows, shopping services,
Did a Deceased Loved One Receive a Stimulus Payment? The IRS Wants it Back. Now.
A friend who received his stimulus payment as an actual check in the mail, knew I was working on this article and suggested I take a look at what the IRS sent him. Examining the official looking envelope.
Why Every Professional Relationship Should Be Considered P2P
In the business world, different groups of people are assigned labels. You have owners, shareholders, executives, partners, management, and employees. You have strategic business partners, vendors, and customers.
Webinar COVID-19: Employee & Employer Issues
Stuart Mayer, Office Managing Partner along with industry experts, discussed the recent financial uncertainty due to COVID-19.
Finding the Silver Lining During and After Times of Crisis
There is no sugarcoating the fact that the coronavirus pandemic is affecting everyone in our country. Businesses that require face-to-face interaction with customers, from restaurants to dentists to theatre companies, are being shut down.
Are You Supporting Team Members Who Want to Create Their Own Opportunities?
Younger generations value flexibility in the workplace. The prospect of going to an office each day from 9 to 5 or later and doing the exact same things day after day isn’t exactly appealing.
Why Human Capital Is Your Organization’s Best Investment
Over the past several years, the concept of digital transformation has become a top business priority. As adoption of artificial intelligence (AI), cloud-based systems, the Internet of Things, and other advanced technologies continues to expand, organizations are weaving these tools into every business process and, in many cases, changing how they operate to optimize productivity, efficiency, and the customer experience. More and more organizations are investing heavily in technology-driven initiatives, as they should.
Craig Manzino Interview in Entrepreneur
Craig A. Manzino, a Partner-in-Charge of the Business Management Group of Prager Metis CPAs, was interviewed in the Entrepreneur, in an article titled: Cynthia Nixon Has a Corporation, and That's Totally Normal for Professionals Like Her. Click here to read the full article.
Glenn L. Friedman to Present at the ADP Complimentary CPE Seminar
Course Summary: Join Prager Metis CEO Glenn L. Friedman for this interactive CPE workshop where he will navigate the conversation on Mergers and Acquisitions in the accounting profession.
Blockchain in the Fashion Industry
Blockchain in the Fashion Industry More often than not, the term that we associate with the word “blockchain” is “Bitcoin.” And while it’s true that blockchain technology was initially created to account for cryptocurrency transactions, it can be applied in so many other settings. A blockchain is a digital ledger that records transactions in ordered records called “blocks.” Each new piece of information is added to the record chain chronologically so that the blockchain reports the entire history from start to finish.
Glenn Friedman Interviewed by The CEO Forum
To read the internview click here.
Cyber Crime
Identity Fraud is on the Rise In the technological age, we do everything online, from buying groceries to doing our taxes. Although the internet makes our lives easier, and no one can argue the fact that doing your taxes from the comfort of your bed is more relaxing than going to your accountants’ office, the problem is you are opening yourself up to allowing a stranger to obtain your well-earned cash, and you might not even know it’s happening.
Understanding Business Valuation
Understanding Business Valuation For most entrepreneurs, their business is the largest asset that they own. Further, most entrepreneurs have built their company with an eye towards an eventual sale and retirement.