Using IFRS to Get New Clients

Source: CPA Trendlines

Following is a synopsis of an entry in the above blog:

Gearing up (to get started on IFRS) doesn’t have to be hard. You don’t need hundreds of hours of CPE to get started. All you need is a client. Just one client.

So says Gale Crosley, business development adviser to CPA firms at Crosley+Co.

“Instead of trying to find a company that wants to be an early adopter,” Crosley says, “find a client with a need.”

Start by looking through your client list for U.S. companies that are foreign-owned. Make sure they understand the conversion to convergence is coming and offer them advantaged pricing to get started.

Crosley advises the same strategy for XBRL.

Her philosophy is simple, and tried-and-true for most CPAs: Find a client with a problem, and fix it.

If you don’t have a client who needs IFRS or XBRL, ask the bankers or lawyers you know who work with foreign companies.

To read the blog, click here and select the entry of December 14, 2008, “How to Get Started on IFRS in One Easy Step”

From CPA Trendlines, http://cpatrendlines.com/, December 2008.