The Connected Accountant

Aha - Pt. II

Ever had a BFO moment? A BFO is a Big Flash of the Obvious – when something that should have been apparent ages ago all of a sudden reveals itself to you – A Damascene conversion, if you like.

At a recent ASAE (The association for associations!) event, the buzz was all about social media and that was where I got it.  At this point, other IGAF Worldwide staff members probably said, “at last – we have only been telling him for the past 2 years!”  -  But if associations are really about bringing people together then this is really the way forwards.

So (tooting own horn alert) it is great to see that a couple of early adopters of this coolness (not to mention representatives of pretty far-sighted firms by any measure) appear to be somewhat pleased with IGAF Worldwide, but perhaps more importantly with the peer firms that are in the membership.

First of all, Mark Bailey in his Innovative Practice Management blog said nice things about our member firms, and then, in Scott Heintzelman's   blog, he was also very complimentary.  Finally, a group that sometimes gets short shrift in accounting firms - the marketers - got some very positive comments on guru Bruce Allen's  blog.

So, turning off the self-promotion, communication is key - building member loyalty takes consistency of communication and a judgment as to the 'right amount' to keep the message to the forefront without being overwhelming.  Your members want to hear from you - Do they, or do they get an unnerving silence?

Getting the most out of your association

It's actually pretty simple - get involved!

The Exuberant Accountant blog, written by Scott Heintzelman, is a case in point.  Scott blogged from our event at the  Grand America Hotel, in Salt Lake City, UT. (A great location, BTW).  Scott's firm (McKonly & Asbury, in Harrisburg, PA), truly understands how to get the most out of an association - They attend most if not all events - globally, they respond to association-wide requests for information and service, and share their successes and challenges with all members.

Attempting to be diplomatic about Harrisburg, I think that even natives of Central PA would agree that it is not exactly a global commercial center.  However, firms like Scott's are able to move beyond limitations by establishing relationships and then exploiting the relationships they build for the benefit of clients.

While not trying to diminish the power and potential of web 2.0, the plain fact is that we all do business with people that we know, trust and like.  And there is still no better way to develop knowledge and empathy than by spending time with someone.

So if you are in an association, be it professional, technical, trade or social, and you are not getting what you think you should, get involved - you might be surprised how it turns around for you!

IFRS - The Sound of One Hand Clapping?

IFRS is coming to the US and Canada.  In Canada, implementation is set for 2011, while in the US companies will be allowed to report under IFRS in 2010, and it will be mandated by 2014.

As this looms, the question is why is there so little education on IFRS within North America?

One possible reason, at least within colleges and universities, is that they are so focused on preparing students for the CPA exam that until IFRS is a full part of the CPA exam scant attention will be paid. 

For those already in the profession, there seem to be some better - and growing - resources. A quick review of the AICPA's website shows that they are starting to take it seriously, with a special website http://www.ifrs.com/ exploring the issues for US-based issuers and accounting firms.

Associations of accounting firms are also addressing the issue with education, in some cases drawing on the experience of their firms from outside North America to start the education of those in North America.  Within IGAF Worldwide, we are going to be having a one-day training session at our annual Business Assurance meeting in early January 2009.