Accounting Associations

Source: Practical Accountant

This article deals with the benefits of membership in accounting associations, how to join, how to select an association, and how to get the most out of membership.

The benefits include:

·    Generalists have a network of specialists available to them, just like national firms.

·    Improved management, technology, and marketing by networking with other members.

·    Resources to represent clients with overseas operations.

·    Practice management surveys to help with identifying best practices.

·    Help to remain independent—provides access to resources of a larger firm without merging.

·    Help in marketing—one firm joined an association after losing a couple of bids to firms that belong to associations.  It helped them create a perception of greater depth of services.

·    Access to assistance in such things as inventory observations especially for clients with overseas operations.

·    Ability to compete with the Big Four and other international firms, yet offer lower fees.

·    Exclusive territories permitting firms to share information they would not want their competitors to have.

·    CPE offerings.

In selecting an association, determine whether:

·    All other firms are compatible with yours in terms of goals and objectives.

·    All member firms actively participate.  Some firms have complained about giving more than they are getting from the association.

·    Other member firms have expertise that will be valuable to your firm.

·    American member firms have significant influence on the organization.  Some associations have lost American members to mergers resulting in greater influence by foreign members.

·    The association will provide you temporary access to private sections of the Web site so you can evaluate the resources they provide.

For the complete article, see Practical Accountant, February 2005, or go to

http://www.webcpa.com/article.cfm?articleid=10380&;pg=pracacc