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It would seem that in today’s job market that good talent would be easy to come by. It would seem you could easily place an advertisement on to a job searching site, get a host of resumes, and have your pick at the best talent out there. If there are so many people that are unemployed…qualified candidates should be flocking to you as an employer, right?

Even now as unemployment is very low, it is still extremely important for employers to understand that the hiring process is key to a successful business. We have found that the number one issue that causes problems in accounting, finance and tax is making the wrong hires.

In reaction to the high unemployment rate and slow economic recovery, Congress has passed and President Obama is expected to sign the Hiring Incentives to Restore Employment (HIRE) Act of 2010. The Act is intended to promote job growth through payroll tax exemptions as well as tax credits for employers hiring qualifying employees in 2010.

In the current economic environment, Companies are looking for further ways to reduce their expenses while maximizing the returns on their investments.  As a result, Outsourcing different aspects of a Company’s business is a method used that accomplishes this goal, while at the same time, obtaining the high quality services that are expected.  Our San Diego Accounting Firm has experience with a variety of different companies with differing needs. We have also directly managed and integrated our services with various San Diego accountants.  As such, we have compiled the following list of top reasons that a Company should consider outsourcing different aspects of their accounting function.

The Financial Accounting Standards Board has recently announced that it plans to release its codification of accounting standards in July of 2009.  Generally Accepted Accounting Principles, or GAAP as we know it, will not change as a result of this new codification.  Instead, this codification is in process to simplify the existing structure of guidance by re-organizing and codifying GAAP, which had become very complex and confusing in many cases.  In addition, rather than the existing format that is organized by standards, the new codification will be based on a topical format.  So, how does this affect our San Diego accounting firm, other San Diego accountants, CPAs, and others within the industry?  And is this a change for the better?

Recently, the Tax Policy Group of Deloitte Tax LLP, in Washington, D.C., issued "Tax policy decisions ahead - President-elect Obama's call for change", which focuses on the President-elect's likely tax agenda for 2009 and 2010.  According to the Deloitte study, the likely agenda for 2009 and 2010, "may unfold in two distinct pieces.  The first could be tax cuts focused on economic recovery and other stimulus actions meant to address the current economic downturn.  The second could be a package of tax proposals to address the longer-term issues that were raised in the campaign."  Now that we know the broad nature of the agenda, how does this effect small business, referred by many as the "backbone" of the economy?  Let's take a look.

Because of the economic conditions that are currently facing our economy, businesses are struggling to create additional revenue streams, while at the same time, minimize expenses.    As we approach the end of 2008, companies are also looking toward the future in creating their 2009 budgets.  While the prospects of reducing salaries and headcount, advertising costs, or a host of other costs can be frightening and painful, reducing the fees that you are paying to your financial statement auditor can save your business thousands of dollars and can be easy and painless.  So what are ways to reduce audit fees and create a more efficient audit?  The following strategies can be used by businesses of any size to assist in creating a more efficient and less costly financial statement audit.