Got questions about the financial crisis?
Take a number. We've got a million of 'em ourselves, starting with:
- How long will it last?
- Will the federal government's rescue plan work?
- Will things improve when President-elect Obama takes office?
CPAs want answers, too. There are lots of questions, lots of uncertainty, lots of just general anxiety in the profession about the state of things today.
There’s no uncertainty, though, about the advice CPAs are giving their clients these days, and it boils down to this: Don't panic. At least that’s Rick Telberg's take.
Rick is president and chief executive of Bay Street Group, which offers advice in marketing, management and strategy. He’s also editor of CPA Trendlines, one of the most read and influential blogs in the CPA profession. Telberg is constantly surveying CPAs nationwide to get their opinions on issues that impact the profession, and he’s run a number of economy-related surveys recently. The results might surprise you.
In a recent phone interview, Rick explained why CPAs are as shocked as anyone about the crisis – and why the crisis might actually offer CPAs huge opportunities in the long run. Find out more by listening to this MACPA podcast.
- Subscribe to our free weekly podcasts here, or open your copy of iTunes and search for "CPA Spotlight."
What's your take on the crisis? Do the threats outweigh the opportunities? Let us know, when check out the MACPA's new online center that offers news, resources, CPE and opinions about the crisis.
To the average American, it might seem ludicrous to suggest that the United States is not in a recession right now. But economists' fuzzy definition of the term makes it hard to say when a recession actually starts until we're well into one. You might hear, for example, that recession occurs when GDP growth is negative for two or more consecutive quarters. But that's not an adequate measure, most economists agree. Right now there is a lot of talk about a recession. The financial buzzword that is out there this month is “Recession” (http://allfinancehelp.blogspot.com/2008/10/are-we-in-recession.html) and for good reason. t has become increasingly vital that as American citizens, we begin to understand how we can properly safeguard ourselves against the risk of a potential downturn in the economy. Obviously there are no real guarantees in life, but there are numerous healthy and advantageous steps that can be taken in order to mitigate your losses during any financial turbulence that should occur in the near future.
Posted by: AmyRoberts | November 18, 2008 at 02:08 AM
Good post.How recent financial crisis started and what were their characteristics?.....
http://undiscoveredequities.com/
Posted by: Peter | April 09, 2009 at 04:52 AM
Why Obama given a pass on his role on the financial crisis for suing Citi to lower their credit standards?
Posted by: Brad Fallon | February 01, 2011 at 12:13 PM
What caused the recent financial crisis?
Posted by: fico score | February 04, 2011 at 02:12 PM