STEPS IN

STARTING THE
MAS PRACTICE
1. Determine and make a list of
services that one can truly offer
with a confidence of competence to
perform.
2. Review a client list classified by
industry, size, etc. and prepare a
package tailored to fit the firms
competence and a particular type of
clientele.
3. Prepare a line-up of
MAS personnel.
4. Seek out advisory
engagements.
 SOURCES OF
MAS
ENGAGEMENTS
1. Referrals from other CPAs.
2. Referrals from audit clients.
3. Referrals from businessmen.
4. Referrals from financial and government
institutions.
5. Referrals from legal and other professional
firms.
 DETERMINING
MARKET
OPPORTUNITIES
 PRIVATE SECTOR
1. Individuals
2. Small businesses
3. Medium-sized businesses
4. Large companies
 PUBLIC SECTOR
Government
GRANT CONSULTING
PROBLEM AREAS IN
RENDERING MAS BY
AN INDEPENDENT
ACCOUNTING FIRM
1. Questions as to the effect of the
practice of MAS on the firms
independence.
2. Development and maintenance of a
high level of competence in MAS.
3. Questions of what fee to charge.
4. Questions of AUDIT-MAS
cooperation in obtaining
engagements.
5. Questions of regular
communication between the MAS
function and the rest of the firm.
 FINANCIAL
MANAGEMENT OF
A MAS PRACTICE
 INITIAL AND BASIC CAPITAL
REQUIREMENTS
1. Working capital requirements
2. Office facilities and equipment requirements
3. Revenues and expenses of management
consultants
4. Billings and collection
PLAN