Accounting Firms and Social Media

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

If accounting has the Big 4, then social media has the Big 3: LinkedIn, Facebook and Twitter. Still, many accounting firms and businesses consider LinkedIn as their sole source of social media because the site helps form relationships that often result in more business and turn into referral sources. But what are the benefits and drawbacks to using the other two main social media sources.  As this article and video show, taking time to investigate and manage social media outlets may help a firm’s marketing and ultimately its bottom line. 

 

Questions:

1.What were the 5 tips in the video for using social media to boost your firm’s income or presence?

2.Based on the video and article, what would you say are the biggest benefit(s) for accounting firms that use social media to promote their practices?

3.Are there any drawbacks for accounting firms who use social media?  How would you design a policy that would help in preventing these issues?

 Sources:

Cytron, Scott. (2009). Just a Tweet Away: Social Media in Accounting Firms. The CPA Technology Advisor, November.  (Retrievable online at http://www.cpatechnologyadvisor.com/publication/article.jsp?pubId=1&id=2609&pageNum=4)

CNN. (2010). How to Make Money with Social Media, CNN videos, July 24. (Retrievable online at http://www.cnn.com/video/)