RBZ, LLP is ranked as the #7 best accounting firm to work for amongst all medium-size public accounting firms in the entire country. This is our second consecutive top 10 ranking. RBZ is the only Southern California-based firm to be included in the top 20!

Accounting Today is one of the largest circulated accounting industry publications in the U.S. Working together with Best Companies Group, this nationwide survey and award program was designed to identify, recognize and honor the best places of employment in the accounting industry. The “Best Accounting Firms to Work For” list is made up of a total of 100 firms nationwide.

Selection Criteria

The 100 companies that are included on the Best Accounting Firms to Work for list is split into three groups: 50 small-sized companies (15-49 employees), 45 medium-sized companies (50-249 employees) and 5 large-sized companies (more than 250 employees). To be considered for participation, companies had to fulfill the following eligibility requirements:

• Be a for-profit or not-for-profit business;
• Be a publicly or privately held business;
• Have a facility in the United States;
• Have at least 15 employees working in the United States;
• Must be in business a minimum of 1 year;
• Be an accounting firm.

Accounting firms from across the country entered the two-part survey process to determine the Best Accounting Firms to Work for. The first part consisted of evaluating each nominated firm’s workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top firms and the final ranking. Best Companies Group managed the overall registration, survey and analysis process and determined the final rankings.

The ranking of the 4^th annual Best Accounting Firms to Work for will be unveiled at an awards ceremony sponsored by ADP during Accounting Today’s 2^nd Annual Growth & Profitability Summit on October 25^th – October 27^th at the Bellagio Hotel & Casino in Las Vegas.  The list-making firms will also be published in the December issue of Accounting Today. 

For more information on the Best Accounting Firms to Work for program, visit www.BestAccountingFirmstoWorkfor.com.

Lynell Chun recognized as Five Star Wealth Manager ^SM for second year in a row.

For the second year in a row, Lynell will be featured in the February 2012 edition of Los Angeles magazine as a Five Star Professional Wealth Manager ^SM.

Over 650 candidates were nominated for the 2012 Five Star Professional award, only 159 were chosen for this prestigious designation. This represents less than 1% of all Wealth Managers, CPA’s, and Attorney’s in the Los Angeles area.

Selection Process

Los Angeles magazine teamed up with Five Star Professional to conduct a very extensive research study looking to find Wealth Managers, CPA’s, and Estate planning attorneys that have proven to provide their clients with exceptional service.

Together, they contacted over 3,323 service industry professionals and 850 firms in the Los Angeles area and asked them to nominate a professional they felt provides exceptional service to clients.

As a final step, Five Star Professional surveyed 50,980 high-net-worth consumers (defined as having $350,000 in assets) to uncover positive and negative experiences with their wealth manager, CPA, or attorney.

Selection Criteria

• Winners must be credentialed as an IAR, FINRA rep, CPA, or a licensed attorney
• Must have a minimum of 5 years in the financial service industry
• Has a favorable regulatory and complaint history
• Have fulfilled their firm review based on internal standards
• Must be accepting new clients and have a five-year client retention rate

Other criteria that were considered include the amount of assets administered, number of clients households served, education, and professional designations.

Summary

Those counties are in New York, New Jersey, North Carolina, and Puerto Rico. Certain deadlines falling on or after August 25, and on or before October 31, have been postponed to October 31, 2011, which includes corporations and other businesses that previously obtained an extension until September 15 to file their 2010 returns, and individuals and businesses that received a similar extension until October 17.

The extension also applies to the estimated tax payment for the third quarter, normally due September 15. In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after August 25, and on or before Sept. 9, as long as the deposits are made by September 9, 2011.

For a detailed summary of these extensions, visit the IRS website.

This annual report is a comprehensive survey of approximately 200 Southern California law firms. The survey includes detailed compensation data by size of firm, location and practice area on over 70 positions within law firms, along with data on billing rates, billable hours, employee benefits, leverage, costs per lawyer, net income per partner and more.

Survey participants will receive a copy of this report at a significant discount. For more information about participating in the survey process or purchasing a copy of the RBZ Law Firm Report, contact:

Catherine Aldrich

Phone (310) 478-4148 | Email: caldrich@rbz.com

Tom Leaper featured in the Los Angeles Business Journal.

In the June 20 – 26, 2011 issue, Tom was featured in the Los Angeles Business Journal in a special supplement entitled, “The Business of Accounting.” This special edition features him in a “Q & A session” that includes prominent partners from other large Los Angeles area public accounting firms.

They share insightful answers to questions about the economy, managing cash flow, going green, along with some personal stories about how they have helped their clients prosper in this challenging economy and provides a unique glimpse into the business of accounting.  Click here to open a PDF of this article. ]]> http://www.rbz.com/updates/the-business-of-accounting/feed/ 0 http://www.rbz.com/updates/nonprofit-industry-update/ http://www.rbz.com/updates/nonprofit-industry-update/#comments Thu, 02 Jun 2011 21:35:35 +0000 Mishel http://www.rbz.com/?p=3396

Nonprofit Industry Update – Task List	> Open PDF
990 Review Checklist Tool – For Audit Committee or Governing Groups	> Open PDF
2009 Form 990 – Significant Changes (IRS)	> Open PDF
Helpful articles: Improve Cash Management to Control Budget Deficits New Merger and Acquisition Accounting Standard for Nonprofit Organizations Form 990: Schedule G Changes Tracking of Fundraising and Gaming
Getting Started: Meeting the New Form 5500 Reporting and Audit Requirements	> Open PDF
Navigating the New Normal: Financial Management Ideas	> Open PDF
RBZ Nonprofit Services and Nonprofit Service Team	> Open PDF

> Open PDF               ]]> http://www.rbz.com/updates/nonprofit-industry-update/feed/ 0 http://www.rbz.com/archive-for-posts/rbzs-best-of-2010-list/ http://www.rbz.com/archive-for-posts/rbzs-best-of-2010-list/#comments Sun, 13 Mar 2011 20:34:22 +0000 Mishel http://www.rbz.com/?p=2410 It has been an award-winning year for RBZ in the form of recognition from our peers – both locally and on a national level. During 2010, RBZ participated in three different “best of” surveys to gauge how successful we are as an employer and in managing our business. The results exceeded our expectations. As 2010 comes to a close and all of the “best of” lists start to show up on newsstands and television specials, it’s time to list RBZ’s own “Best of 2010” list.

“Best Places to Work” in Los Angeles, Los Angeles Business Journal

RBZ climbed to the #3 spot on this list, improving on our #7 ranking in 2009 and continues to be the highest ranked accounting firm in the mid-sized firm category. Hundreds of companies from every industry throughout Los Angeles County participated in this survey, only 50 made the list of finalists.

“Best Accounting Firms To Work For” in the U.S., Accounting Today

RBZ made an outstanding debut at #4 in the mid-sized firm category on this prestigious list. This annual survey is designed to identify, recognize and honor the best accounting firms for their human resource policies and programs. The list is comprised of 100 firms, split into three groups: 45 small-sized firms (15-49 employees), 45 medium-sized firms (50-249 employees) and 10 large-sized firms (more than 250 employees). Accounting firms throughout the U.S. participated in this survey.

“Best of the Best” managed accounting firms in the U.S., Inside Public Accounting

Annually, Inside Public Accounting honors 25 firms, regardless of size, for their exceptional management and operational performance based on over 50 benchmarked criteria. RBZ is one of only two Southern California-based firms to earn this prestigious designation for 2010.

2011 will prove to be challenging, but will also provide many opportunities for us to once again prove that we are the “best of the best” for our people and our clients.

Last year I wrote about some of our key strategic elements, including our recruitment and retention of outstanding people and our investment in the resources necessary to develop our firm to be strong, both technically and in its leadership. The cornerstone of our vision – to have a firm with the best trained staff providing the highest level of client service – is the foundation upon which our latest recognition is built. With great pride, I am excited to share that 2010 was a banner year for RBZ in terms of recognition from our peers – both locally and nationally.

Our firm has been honored to receive the following awards:

• One of the “Best Places to Work” in Los Angeles, Los Angeles Business Journal, in fact, we’re #3;
• One of the “Best Accounting Firms To Work For” in the U.S., Accounting Today; and
• One of the top 25 “Best of the Best” managed accounting firms (regardless of size) in the U.S. (as ranked by Inside Public Accounting).

These recognitions are not a result of luck. Rather, they are the realization that, with our strategic vision firmly in place, we are charting a steady and intentional course for the continued improvement and success of RBZ. They are milestones and measurements of our accomplishments, proving that our strategic initiatives have been on target and are yielding consistent, positive results. These distinctions validate that all members of the RBZ team have done an exceptional job of both embracing and implementing the RBZ vision.

The decision to develop a firm wide strategy is easy. The time, emotional and financial investment and dedication required to stick with your plan day after day, is not. It takes an enormous effort from everyone, not just a few people, to bring the strategic vision from words and diagrams into action and results. All of the incredibly positive, independent recognition we are experiencing is the exciting realization that our strategy is working.

Even in this tough economy, it is imperative that RBZ continue to invest in the development of our people, invest in a strong technical infrastructure, and invest in the continuance of a positive and rewarding work environment. Along with all of this, we will continue to provide the highest level of client support and service.

Together, we must continually strive to set the bar higher, capitalizing on our competitive advantage in the industry. RBZ has become the benchmark by which others are measuring themselves. Without driving continuous improvement, we will be in jeopardy of becoming just another average firm. The challenge is to continue the constant desire to improve – demonstrating that we are committed to excellence both internally to our own people (through our training and development programs) and externally to our clients by continuing to strive for the highest level of client service.

Technical excellence, timeliness, leadership, and stability are requisite RBZ client expectations. More so now than ever before, we have an obligation to our clients – and to each other – to maintain (and constantly strive to enhance) this level of superior service. We want the recognition we have received to solidify in the minds of our clients that they are serviced by a “marquee” firm – A firm they trust and builds their own reputation simultaneously. Word of mouth “advertising” is one of the strongest munitions in our arsenal: Our reputation and recognition becomes a source of pride for them, just as it does for us.

Awards are gratifying, but short lived – the reality is that they continue to raise the bar when it comes to the expectations of clients and our people. We must never lose sight that our latest recognitions are the result of years of planning, investment and hard work by many people. I never imagined RBZ would be named one of the best places to work or best managed firms in the US. It’s humbling that our people and our firm have been recognized as leaders in the industry. A tremendous “thank you” to all of our employees and management team for leading our firm to the forefront of our profession.

For questions about this article contact:
David Roberts | 310-478-4148 x350 | droberts@rbz.com

Two years ago, I co-wrote an article with Valerie Milleron, PhD. from California State University, Chico, on the extent of cheating, the impact of that type of behavior extending beyond the classroom and a method for interviewing people when ethical behavior, integrity and good judgment are essential characteristics to identify in candidates during the selection process. This issue has dominated parts of the media in recent years in the aftermath of the Madoff and Sterling investment scams. Given that trust and confidentiality is essential to the public accounting profession, this same article has been adapted to illustrate one way that we and anyone else can use to screen potential employees.
Ask students about whether cheating goes on at their college or university, and you are likely to hear an alarming answer: yes, cheating is common. While it is disturbing to hear that cheating is widespread, it is arguably even more alarming that many students seem to have a nonchalant attitude about it.

According to the National Education Association, about 75% of high school students admitted to cheating on at least one test and one-half of college students surveyed admitted to plagiarizing. Yet, the vast majority of students said that they were satisfied with their personal behavior. This in and of itself raises concerns about the character of future graduates entering the workforce to start careers in a variety of professions, including public accounting. This warning hits home for me because I am responsible for the professional staffing of our firm, and I visit local college accounting programs to speak with potential candidates.

When I talk to students about cheating in schools, the explanation I usually get is that many students don’t think long and hard about doing it because the sanctions for getting caught tend to be relatively inconsequential—at worst—a failing grade in the class as opposed to expulsion or other more severe penalties. Presumably, those who make the decision to cheat based on such a cost-benefit analysis, will refrain from more serious types of cheating with more severe consequences. In making an employment decision, the most effective way to predict whether the new employee will display ethical behavior, integrity and good judgment is if they have consistently demonstrated these behaviors in the past – in a variety of situations.

Obviously, companies should avoid hiring those who have repeatedly cheated in the past. But how do you identify those who continually demonstrate integrity, good judgment, and the propensity not to cheat when the opportunity presents itself? Faculty recommendations are useful in assessing the skills and intelligence of candidates. But since teachers are constrained by legal concerns about passing on their own suspicions about unethical behavior, recommendations are not likely to provide much help in screening desired behaviors. That leaves the interview process as the primary opportunity and tool to assess the character of each job candidate.

Behavioral Interviewing

There are several popular interviewing methods used by employers for both campus candidates and those with prior work experience: situational (“what if?”), historical, chronological, or behavioral (how the person has behaved in the past). I have found that behavioral interviewing is the best method for identifying desired behaviors. Though I work for a public accounting firm, these interviewing techniques could be applied to any type of position in any type of business. They are especially useful in the accounting field, however, because CPAs are often considered their clients’ most trusted advisors.

There is a pool of five questions that I like to ask to help me determine if candidates behave with integrity and good judgment. In the answers to all of the five questions, I’m looking for consistent evidence of behaviors that demonstrate either of these characteristics or skills, because after they are hired, the candidates’ professional judgment will affect other people, including other employees and clients.

The past has a way of repeating itself in both positive and negative behaviors. These questions are specifically useful to me because they expose true character and altruistic, ethical behavior and judgment. To be sure, acts of altruism don’t correlate directly to whether or not someone lacks integrity or uses good judgment, but behavioral interviewing techniques can reveal the candidates’ thought processes and thereby provide a window into their character.

These questions are also designed to help me understand an applicant’s decision-making process and how he or she is swayed when considering choices. Ultimately, the candidate may know what the ethical decision might be, but may also be influenced by peer pressure or other personal factors to make another decision.

On the other hand, the candidate may decide that the reward is attractive enough to justify taking a risk. In observing how job applicants respond to these questions, my goal is to understand how those influences affect their decisions and the thought processes they have used. This is critical when using current information to evaluate future behavior and performance.

I don’t necessarily ask all five questions in an interview. And I’m rarely able to make a hiring decision on the basis of any single answer to a question, so it is important not to take any one answer out of the context of a 45-minute interview. But I usually ask everyone three of these five questions, which are all tied together with the ability to make right and wrong decisions about ethical behavior and good judgment.

Question 1

In all aspects of your life, you face dilemmas — right versus wrong, moral versus immoral, ethical versus unethical. Tell me about one of the most difficult dilemmas you have ever faced, whether it was a school or work experience or involved an extra-curricular activity, and explain the decision-making process you used in solving (or resolving) your dilemma.

This question, like the others, is open-ended. Answers that don’t elaborate on the story and fill in details about who, what, where, and when are just too short and sweet. In other cases, the candidates may stutter and fumble around, trying to clarify an example. By asking them to provide a personal example, you can determine whether they are able to make a decision on their own.

While a lack of independent thinking won’t necessarily suggest that they would have a predilection for poor judgment, it could indicate that they may have trouble demonstrating the correct judgment at critical moments — when there is a lot of pressure and they are the ones accountable for the results.

Question 2

Tell me about an instance in which you helped another person you didn’t know, without having been asked, and why you did it. This question looks at altruistic behavior, which may be tangential to ethical behavior. It also addresses leadership skills because the answer will disclose whether the candidate is capable of taking the initiative to act. For instance, one female candidate answering this question told me about how on a trip to Europe, she saw a woman who dropped part of her groceries out of her bag. She helped the lady bag the groceries and walk across the street. When I asked why she did that, the young woman replied, “Well, because she couldn’t help herself.” She went on to say that the lady’s smile of gratitude was one of the most memorable moments of her trip to Europe.

I knew then and there that this person possessed a great deal of initiative because she was aware of the moment and aware of her surroundings — someone who couldn’t help herself needed help, and the candidate reacted to it. This person has the potential to be a strong supervisor and teacher. That’s the sort of person you could ask to help you when you’re trying to meet a deadline. That’s the sort of person who will ask before he or she leaves for the day whether anyone else needs help.

Question 3

Tell me about a situation when you went out of your way to assist someone, despite having a conflict, like another event to attend or lack of interest in the person. What did you do and why did you do it?

This is a combination of the first and second questions. You have a conflict and someone needs your help. You have a decision to make. There is no wrong answer. The situation might be that someone in the student’s dorm needed to move and his or her friends didn’t show up to help with the move, and the applicant telling the story wanted to help but couldn’t because he or she had to get to a social event or job. The thought process leading to the decision will reveal a lot about the candidate. Helping others was important, but the student may have relied on the job to pay his or her tuition and couldn’t skip work. The reasoning tells you a lot about the candidate’s priorities and values.

What are the signs that the candidate may not have the desired behaviors or characteristics? The clues may include the inability to describe a series of events, a change in the topic, or even questioning the examples they are using. If they are unable to provide further details in response to a follow-up question, that is a further indication that the example isn’t valid. If it were a true story, more often than not they remember the details, just like the woman who was on a summer tour in Europe. She certainly remembered all the details of helping the lady who spilled her groceries.

Question 4

Explain a situation in which you helped someone, who wasn’t necessarily a friend of yours, to improve a skill or otherwise shared knowledge with that person.

The person in the scenario may have been an acquaintance, a participant in a group project, or even a co-worker. The knowledge that was passed on may be as simple as information about how to best navigate a place the person will be visiting. Or it could be coming to the assistance of someone who is having computer problems, just because they appear to be having difficulties. This reflects on the candidate’s instincts as a teacher and also reflects on one’s altruistic inclinations, which parallel other ethical behavior. What could be more ethical than helping those you wouldn’t naturally be inclined to assist?

Question 5

Describe a situation in which you witnessed another person whom (in your opinion) you believe was “wronged.” How did you react and what action, if any, did you take to remedy this situation or otherwise support the individual?
Again, this question addresses ethical behavior and also leadership skills. It takes a strong person to stand up for another in whom they have no vested interest. An example of this came up in an interview with a job applicant who had been in a sorority in college. She vouched for the good character of a woman who wanted to get into the sorority, despite the insistence of another sorority member that the girl was not the right “fit.” Though initial opinions varied widely about the potential new member, the woman was offered membership and eventually became an officer of the sorority. The young woman I was interviewing was able to look back and realize she did the right thing, and in the process, undoubtedly earned the respect of other members. As with the other questions, there is not necessarily a wrong answer. It really comes down to who can best articulate and explain the chain of events that lead up to the decision. For the most part, those who have been most adept at answering these questions have turned out to be very successful in their careers.

Conclusion

In over 20 years of experience asking these types of questions of job applicants, I have learned that people can’t just make up an answer on the spur of the moment. If they have not truly lived an experience they are purporting to recount, they can’t consistently answer these questions. But in conducting the interview, you must be an active listener. Applicants simply can’t construct a detailed answer if they are not being truthful.

When I discuss these questions, I’m often asked what, if anything, the answers tell me about the person’s job-related skills. My answer: what could be more important than understanding the motivations of those who are applying for work with your company? How and why they make decisions is much more valuable to me in predicting performance than learning the list of responsibilities they held in former jobs or the grades they earned in their classes. Merely knowing what they did in previous jobs or extra-curricular activities tells me nothing about how they did it.

The answers to these questions, in contrast, give me much more qualifiable information about how they will behave in the long run, because the past predicts the future. And those who were unethical or used poor judgment in the past are almost certain to continue behaving the same way.

For questions about this article contact:
Charles Osaki | 310-478-4148 x384 | cosaki@rbz.com