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May 2018

As you are working towards becoming an official CPA, here are a few things that can save you a ton of time on your license application process.
This blog is applicable to those who already passed all sections of the CPA exams, the AICPA ethics exam, and are ready to become an official CPA in Illinois. There’s also some information that’s helpful if you need to transfer your score from another state. 

Step 1 – Register for an account at the ILBOE and make sure they have your scores on record. If you originally took the CPA exams for IL State, please skip this step. I had to go through this process because I passed the exams for NY State and have been working in Illinois thereafter. In my case, I transferred my scores from NY to IL at NASBA Store. After I filled in the information and paid online, I got an email from NASBA with an “IL Score Transfer Form”. Illinois is one of the six states that require a state specific form to be filled out by the candidate and submitted to the board. Complete the form and reply back to the email, then NASBA will be able to transfer your scores.  (
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Over the many years that I have been consulting with manufacturing firms it is no surprise that the most successful of those firms are the ones that are very focused and aggressive in the area of new product development.
There are a number of benefits inherent in an aggressive new product strategy:

The need for consistent revenue growth.  It is important that as part of the process that we measure incremental sales growth from new products.  Some companies are continually trying to make a better version of the same product that they are already selling.  This ends up cannibalizing existing sales and at the end of the day it does not get you any additional sales.

New products bring higher margins.  New products should attract a higher level of margin especially if they are innovative products.  A companies legacy products many times will lose margin due to the competitive environment whereas with innovative products the company has a window of time before competition becomes a factor.

New products insulate against economic swings.  As we went through the Great Recession of 2008-2009 I found that my clients that weathered the storm the best were those with an active new product development strategy.  (
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This is just one example of how CDH helps its clients through our Executive Focus service offering.  If you would like to learn more about the Executive Focus process, please contact Dennis Pierce, Director of Management Consulting at dpierce@cdhcpa.com or 262.784.4040.

 

Today it was McDonald’s, yesterday was Uber.  It seems like every day brings new sexual harassment allegations against prominent figures and corporations

Since the #MeToo movement brought the issue of sexual harassment center stage, experts are predicting sexual harassment topics will remain high profile for a while. 

Businesses could face potential financial penalties for harassment cases and could cause significant damages to their brand and reputation.   The most recognizable example was the Weinstein company, who filed a bankruptcy in March 2018. 

What we learned from the Harvey Weinstein case is employees from assistants to top executives knew sexual harassment was happening and decided to look the other way. The reason employees did not speak up is that the company enforced a code of silence policy.  An employee could not criticize the company or the company leaders in a way that could harm its business reputation or personal reputation.  Speaking up meant violation of company policy.

Other workplaces may not be as extreme as having a code of silence policy, but maybe there is an implied policy through acts of intimidation or fear of retaliation.   (read more)

 

Benefit Considerations for a Multigenerational Workforce

By:  John Jaeger
 
Today's labor pool is comprised of 5 distinct generations, each presenting unique challenges, and perspectives for employers that have not existed in the past for a singular workforce.

   Because each group possesses a very different approach to employment and employee benefits, having a fresh approach to your benefits strategy will not only keep you in the game within your industry but help you win high-performing talent over your competitors. So what are the different generations and what traits do they possess?
 

  • Traditionalists: Born 1925 – 1945. Smallest percentage of the workforce. Experienced, dedicated, loyal.
  • Baby Boomers: Born 1946 – 1964. Third largest percentage of the workforce. Service and team oriented; dedicated.
  • Generation X: Born 1965 – 1980. Second largest percentage of the workforce. Adaptable; independent; creative.
  • Millennials: Born 1981 – 1996. Largest percentage of the workforce. Optimistic; multi-task; tech savvy.
  • Centennials: Born 1997. Second smallest percentage of the workforce. Entrepreneurial; cautious, tech savvy.


To learn more about what each generation values, core compliance rules and common pitfalls, value added benefits, and generational benefit preferences, please watch the webinar playback by clicking here:  https://www.onedigital.com/blog/webinar-playback-benefits-considerations-for-a-multigenerational-workforce/

If you have additional questions, please contact John Jaeger at OneDigital Health & Benefits:   jjaeger@onedigital.com.
 

Good dashboard design with the right metrics provides added value when a client signs up to upgrade from older legacy systems.

Sage Intacct provides the relevant dashboards by role to key in on these highlights and drive your business forward. Dashboards in Sage Intacct take transactional data and transform it into a key performance indicators, charts, reports, or SmartLinks. The intent of dashboards is to not only monitor the business but provide direction in future decision making too.

Too many cloud implementations push reporting and dashboards until the end when the project is almost over or done. In the rush to project completion, dashboards often run into limited resource hours or dollars to finalize completion.

Here’s a way to fix –

  • Talk to your key users at the beginning of the Sage Intacct implementation project to understand what metrics drive their business and begin the design of the dashboard as an iterative process so that each version gets better per client reviews and feedback. Excellent dashboards will enable clients to make better decisions and begin the process of analyzing data rather than spending time gathering the data. Create dashboards by role (i.e. CEO, CFO, Controller, VP Marketing/Sales) – this enhances each role and specific KPI’s/role take their business intelligence to the next level.  (read more)
For more information on Sage Intacct, please contact Barry Coyne.
 
Performing While Transforming

By:  Tony Szczepaniak
 
It is amazing to think that my tenure as your CEO has recently passed the two-year mark! 
During this time, I’ve learned a lot about our community culture, our members, and how you engage with one another and the Executive Office. The passion within the community is strong and provides the fuel to keep climbing mountains and reaching new heights! This anniversary provides the perfect opportunity to reflect on where we’ve been and look forward to where we’re going next.

Past Two Years
In May 2016, we transitioned our focus to increased member engagement. We saw an opportunity to deepen the understanding and value of the Moore Stephens community within our members. We changed the conference experience and increased attendance regionally while expanding our international presence. We also initiated efforts to solidify the MSNA infrastructure and processes, enabling us to maintain deeper relationships with members and provide more personalized experiences.  (read more)