PCPS update.

• Author: Caturano, Richard J.
• Position: American Institute of Certified Public Accountants. Private Companies Practice Section

January 2005

Dear PCPS Members:

Happy New Year! As we kick off a new year of fresh possibilities and opportunities, we would like to review PCPS's accomplishments for local and regional firms in 2004 and look ahead to our plans for 2005.

2004: The Year In Review

PCPS achieved a great deal in 2004 by fulfilling our core purpose, which is to make CPAs and their firms successful. Response to our work was strong: this year, PCPS reached its highest level of membership since April 2002, and also recorded a record number of unique visitors to the Web site. The PCPS Executive Committee kicked off the year with a multi-day strategic planning session to identify the organization's greatest challenges, its core purpose, its values and its critical target audiences. While the recent membership survey showed that 86% of our members believe that their membership in PCPS is valuable and four out of five would recommend it to a friend, there are still many firms that could benefit from what we offer. We renewed our focus on the top concerns of CPA firms, including finding and retaining quality staff, succession planning and developing future owners, and marketing and practice growth. After this successful session, PCPS developed new initiatives focusing on the topics of succession and staffing. We expect to commence with new products in 2005. We have also worked hard to enhance the quality and frequency of communications to member firms.

Here are highlights of the many benefits PCPS offered during 2004:

Valuable Products and Services PCPS presented a broad array of tools and programs for PCPS members throughout the year, including:

* PCPS/TSCPA National MAP Survey: This marked the third year that PCPS and the Texas Society of CPAs (TSCPA) partnered to conduct the National Management of an Accounting Practice (MAP) Survey. A total of 2,373 firms responded to the survey, creating the most comprehensive body of benchmarking data available to local and regional CPA firms today. And new this year, PCPS contracted with an outside consultant to prepare a detailed commentary on CPA firm best practices and big picture take-aways from the survey results. All PCPS members are entitled to a free National survey report, one of the most valuable tools that firms have to help improve their business performance. Visit www.pcps.org and click on the "PCPS/TSCPA National MAP Survey" logo on the left side of the screen. Non-PCPS members may purchase the report for $300 with...