Small Business/Fraud
PROTECT SMALL BUSINESS
Joseph T. Wells
Small businesses, because of limited personnel and controls, are especially vulnerable to fraud from both employees and customers. CPAs can be a tremendous asset to such companies in helping stave off losses due to fraud. This article describes the schemes used to defraud and the measures CPAs can take to uncover them so they can advise and educate their small business clients in prevention and detection.

Small Business/Practice Development
NAIL A CONSTRUCTION NICHE
Sarah Phelan
Because the building industry encompasses projects that range in size from small (storefronts and kitchens) to huge (bridges and refineries), a CPA serving contractor clients will work with businesses that vary in complexity. This article gives practitioners considering this market segment information about the construction culture and the CPA services it needs.

Small Business/Succession Planning
BUSINESSES IN TRANSITION
Victoria M. Zunitch
When owners who lack traditional succession options need to move on, whether to a new enterprise or a new phase in life, CPAs can assist them with an organized, and perhaps profitable, transition. Here’s what CPAs can do to help a client choose whether to sell or liquidate and handle the tax effects of the decision.

Small Business/Employee Benefits
THE SINGLE-PARTICIPANT 401(k)
Juliette Fairley and Peter D. Fleming
Changes in the pension laws have made 401(k) plans more attractive to small businesses that employ only the owner and his or her spouse—including small CPA firms. A single-participant 401(k) enables these business owners to maximize retirement plan contributions with fewer administrative headaches.

Personal Financial Planning
MUTUAL FUND REDEMPTIONS
Lee G. Knight and Ray A. Knight
With careful planning, CPAs can help clients control how much gain or loss they recognize on sales of mutual fund shares. The right guidance also can ensure that clients don’t run afoul of other tax law provisions that might hamper their ability to deduct losses.

Professional Issues
YOUR EQ SKILLS: GOT WHAT IT TAKES?
Michael D. Akers and Grover L. Porter
Not too long ago people believed that your IQ (intelligence quotient) was the best indicator of your SQ (success quotient). But in the last decade it’s become clear that your EQ (emotional quotient) may represent your most important asset. Take the EQ assessment test to see if you measure up.

Technology Workshop
COLLABORATION WITHOUT HEADACHES
Duane Brandon and Aaron Crabtree
Microsoft’s Office XP now makes it much easier for a team to review and edit a document, spreadsheet or presentation. The software conveniently tracks changes from multiple reviewers and then merges their edits into the final document.