PCPS update.

• Position: Private Companies Practice Section

Critical Information for CPA Firms

PCPS is here to help you succeed. How? We step back and look at resources and regulations and think how they will affect our member CPA firms. We bring you up-to-date tools and information that shape your practice today and will improve your business in the future.

What can you do now to get ahead of the game? Here are the best resources, sites, information, and events available for CPA firms today. Take advantage of them. Tell us what you need. We're here to help.

* Give your firm an edge with the PCPS/TSCPA National MAP Survey!

Is your firm on target to grow in 2004 and beyond? Do you have a plan for growth but lack concrete, achievable goals?

The PCPS/TSCPA National MAP Survey can help! The National MAP Survey results provide you with detailed benchmarking information regarding salaries, billable hours, service offerings, and expenses. This critical information, compiled from thousands of firms across the U.S., offers you a blueprint for success.

PCPS members who participate in the survey receive a free interactive results report that allows you to compare data tailored to your firm size, specialty, and region. This year, the report will also include detailed commentary on CPA firm best practices and big picture take-aways from the survey results. There has never been a better time to participate in the survey! There is no cost to take the survey and all survey results are available free to PCPS members. Nonmembers can join for $35 per CPA in the firm (up to a maximum of $700) to take advantage of this member benefit. Alternatively, nonmembers can purchase data reports for $300 with a $100 discount to respondents and an additional $100 discount for AICPA members. For more information, visit www.pcps.org and click on the survey logo on the left side of the screen.

Look for your e-mail invitation, and access the survey by clicking on the link provided.

* Do the new Department of Labor (DOL) overtime requirements have an impact on your firm or your clients?

The U.S. DOL has issued regulations regarding federal overtime pay requirements under the Fair Labor Standards Act (FLSA). The "Fair Pay Overtime Initiative" becomes effective on August 23, 2004. Under the new FairPay rules, workers earning less than $23,660 per year--or $455 per week--are guaranteed overtime protection.

PCPS and the AICPA are examining the regulations for their impact on local and regional CPA firms and small business clients. Look for...