Private Companies Practice Section Resources

The AICPA Private Companies Practice Section (PCPS) is a great resource for your firm practice management needs.  PCPS serves over 6,500 member firms with a variety of tools and resources to help their member CPAs and their firms be successful through education and advocacy.  Visit www.aicpa.org/pcps for more information.  PCPS is a firm membership and at annual dues are calculated based on the number of CPAs in your practice.  At only $35 per CPA, maximum of $700 per firm, it’s a great investment for the wealth of resources.

Copyright © 2007 by the American Institute of Certified Public Accountants, Inc., New York, New York.

A&A Resources

SAS 115 FAQ

SAS No. 115 will have an impact on the audits of financial statements for periods ending on or after December 15, 2009 (earlier implementation is permitted). PCPS offers members a toolkit that provides guidance on the implementation of SAS No. 115 and tools to assist in educating and communicating the impact of SAS No. 115 with your clients.  The FAQ document, just one component of the SAS 115 Toolkit is intended to address the most common practitioner questions related to applying SAS No. 115.  Click here.

SAS 112 FAQ

SAS No. 112 will have an impact on the audits your firm performs for financial statements that ended on or after December 15, 2006. PCPS offers members a toolkit to provide better insight and tools for the implementation of SAS No. 112.  The FAQ document, just one component of the SAS 112 Toolkit is intended to address the most common practitioner questions related to applying SAS No. 112. In addition, it provides links to additional resources that may help you in understanding and applying SAS No. 112.  Click here. 

SAS 112 PCPS Web Forum Archive

PCPS conducts regular management Web forums, free, to all PCPS member firms.  This previously recorded Web forum, presented by Chuck Landes, CPA of the A&A standards group at the AICPA, explores the impact on the audits your firm performs for financial statements that ended on or after December 15, 2006. It provides you with insight into the implementation of SAS No. 112 and how to communicate the new standard and its impact to your clients as it relates to their audit engagement.  The full audio and video, along with the PowerPoint presentation are available to members and non-members for a limited time, free.  Click here and scroll to the bottom of the page for more information.

Risk Assessment Standards FAQ (SAS 104-111)

SAS’s No. 104-111, the Risk Assessment Standards will have an impact on the audits your firm performs for financial statements that begin on or after December 15, 2006. PCPS offers members a toolkit to provide better insight and tools for the implementation of the Risk Assessment Standards.  The FAQ document, just one component of the Risk Assessment Standards Toolkit is intended to address the most common practitioner questions related to applying SAS No. 112. In addition, it provides links to additional resources that may help you in understanding and applying SAS No. 104-111.  Click here.

Risk Assessment Standards (SAS 104-111) PCPS Web Forum Archive

PCPS conducts regular management Web forums, free, to all PCPS member firms.  This previously recorded Web forum, presented by Chuck Landes, CPA of the A&A standards group at the AICPA, explores the impact on the audits your firm performs for financial statements that begin on or after December 15, 2006. It provides you with insight into the implementation of the Risk Assessment Standards, and how to communicate the new standard and its impact to your clients as it relates to their audit engagement.  The full audio and video, along with the PowerPoint presentation are available to members and non-members for a limited time, free.  Click here and scroll to the bottom of the page for more information.

Mortgage Broker/Lender CPA Comfort Letters

Many CPAs today are faced with a unique challenge of providing a loan broker or lender with a “comfort” letter on behalf of a client.  There have been many questions raised over the last few months and PCPS would like to point you to guidance that will help in these situations.  Click here for more information.

PCPS Technical Issues Committee (TIC) Alerts

Does today's news impact your firm? Learn more about expert practices and explore the opinions of your colleagues through leading industry and PCPS publications. Click here to find the latest Standards, TIC Alerts, and TIC Comment Letters.

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PCPS MAP Survey Results

PCPS/TSCPA Map Survey Commentary

The 2008 National MAP Survey Commentary offers a high level preview into survey findings and provides CPA firms with a "quick introduction to the survey results that can help you pinpoint areas that you may want to analyze more thoroughly," according to David Morgan, PCPS Executive Committee Chair. Click here.

Web Forum - 2008 PCPS/TSCPA National Management of an Accounting Practice Survey Results

Presented December 16, 2008 by James C. Metzler, CPA & Vice President - AICPA Small Firm Interests, this forum will focus on the highlights of the 2008 survey, explaining what it means for practitioners. Click here to access the archived Web forum.

PCPS 2007 Top MAP Issues Survey

Since 1997, the PCPS Survey of Top Practice Management Issues (formerly known as the MAP Top 5 Issues Survey) has polled the managing partners of CPA firms, asking them to rank the most important practice management challenges that their firms currently face.  Click here for a summary of the 2007 results.

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PCPS Human Capital Center

PCPS Human Capital Center Toolbox Series

PCPS has created a series of booklets that provides a preview into each of the 11 sections of the Human Capital Center. Every booklet explains the section's concepts at a high level and includes references to the customizable tools one will find in the Human Capital Center.  Click here.

PCPS Human Capital Center – Team Recruitment

Recruiting staff is a top priority for today’s CPA firms. The Team Recruitment section of the PCPS Human Capital Center offers member firms the learning, tools, and resources necessary to build a strong and viable team. In this section, firms will learn to:

  • Assess their current team members and their staffing needs
  • Evaluate various recruiting methods and execute the related recruiting strategies
  • Use targeted behavioral based interviewing techniques

Employ the Team Recruitment Action Plan as a guide for your recruiting efforts.

PCPS Human Capital Center – Performance Management

Public accounting is a people business and retaining staff is a main concern for today’s CPA firms. It is only logical that our profession should demand the effective management and optimal development of our greatest asset, our team members. The Performance Management section of the PCPS Human Capital Center provides member firms with the learning, tools, and resources necessary to establish performance measures and to compare the team members’ performance to these measures consistently. This section also helps the team understand how to set their goals, give, and receive feedback and constructively manage poor performance. Refer to the Performance Management Implementation Action Plan as a guide for introducing this system to your firm.

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Succession Planning

2008 PCPS Succession Survey; Revelations, conclusions and recommendations

This publication reports on the results of the 2008 Succession Survey in order to provide information to practitioners as to how firms are handling the issue of succession planning and provides conclusions and recommendations based on the survey results.  This report can be used as a tool for practitioners to evaluate their succession planning efforts against those of their peers and the growing need for succession planning to be a regular and ongoing practice within their firm.  Click here.

Click here for the Succession Planning Resource Center.

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PCPS Newsletters and Publications

Seasonality Success:  Winning Strategies for Profitable Firms

This is a quarterly e-newsletter offered by PCPS on making the most of busy season. Every article will contain a wealth of tips to help make your practice more effective and efficient, along with an action agenda containing steps that can be implemented in your own practice.  Click here.

PCPS Brief

PCPS Brief is an e-newsletter that synthesizes information, news, and other resources around a particular issue or concern and offers actionable ideas for your practice.  Some topics include Creating a Culture of Ownership and Accountability, Becoming a Great Leader, and Client Retention Tips, to name a few.  Click here

PCPS News & Views

News & Views is a monthly e-letter is co-authored by David Morgan, Chair of the PCPS Executive Committee and Jim Metzler, AICPA Vice President of Small Firm Interests.  Each author will provide you with their perspective on the latest technical development and practice management issues affecting small firms. Click here

The Practicing CPA

This is the monthly newsletter for the AICPA Private Companies Practice Section. It provides more than 6,000 member firms with up-to-date information and news on the business and accounting issues and offers creative strategies and solutions for practice management.  Click here

Small Firm Solutions

This is a new quarterly e-newsletter geared towards the smaller firm to make the most of their opportunities and keep track of important new developments in the profession.  Click here.

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PCPS Practice Management Web Forums

PCPS Practice Management Forums are a series of free online forums available exclusively to PCPS members. These forums focus on the most critical practice management issues facing firms today, including staffing, succession planning, and workload compression.
 
The PCPS Practice Management Forums are presented by nationally recognized consultants, each forum takes participants through a live, interactive PowerPoint presentation and gives them the ability to ask questions, all from the comfort of their own desks.  Archived versions of all past Web forums are also available to PCPS Member Firms.

Click here for the upcoming schedule.

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Economic Crisis Resources

PCPS Economic Podcast Series

These informative presentations feature practitioners from small, medium and large firms describing their real-life experiences during the downturn and offering workable solutions and best practices.  Click here.

Client Credit Crisis Communication

During troubled times, clients turn to their CPAs for insights into how to avoid missteps and protect their businesses and investments. To help all you respond to their concerns, the AICPA PCPS has created this letter that practitioners can send or email to clients with advice on surviving the credit crisis. We encourage you to circulate it to clients to remind them that you are there to help them address the many challenges facing their businesses.  Click here.

Small Business Stimulus Plan Client Communication

Your clients may need clarification on President Obama’s small business initiatives and what they mean to their small business. To help you communicate with clients, PCPS is providing this letter with sample wording that practitioners can send or email to small business clients that provides a clear overview of the key aspects of the small business plan and the Recovery Act tax provisions. Click here.

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Other Firm Practice Management Resources

Starting a CPA Practice Checklist

PCPS developed a planning checklist and accumulated applicable resources to help the aspiring sole practitioner or small firm owner address common start-up considerations (as they relate to a CPA practice) and give answers to the questions one might face in setting out on such an endeavor.  Click Here.

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