Is the World Flat?
When I first became a CPA, I thought “International Business” was something reserved for super-large multinational corporations. Last year, I read Thomas Friedman’s book The World is Flat. While I was struck by the interesting dynamic, I still thought playing in the international business arena was only for the “big boys.”
Recently, Crowe Horwath International hosted its annual conference in Montreal and I attended as DMJ’s US accounting firm association, CPAmerica International, is a member of Crowe Horwath. I had the opportunity to talk to CPAs (or the similar title and certification in each particular domicile) from over 100 countries who shared the business concerns of their clients. It was fascinating to discover how similar the issues were among everyone from everywhere. For the first time, I saw “the world is flat” from a business perspective.
Today, it is more common for mid-sized privately-held business’ to have significant international operations, creating new opportunities and areas for growth. I suspect that over the next decade it will become more common place for mid-sized companies to have international business operations.
With that trend in mind, CPAmerica hosted an International Business Group meeting in Atlanta this December, and I attended along with my Partner Art Winstead and 60 of our CPAmerica colleagues. We heard presentations titled, “Grabbing Your Slice of the International Pie” and asked the rhetorical question, “How do we as CPAs help our clients navigate this quickly growing international business opportunity?”
As opportunities in international business evolve, DMJ has been fortunate to represent clients in the global arena both as US subsidiaries of foreign corporations and for US companies with foreign subsidiaries. Accounting, financial reporting, and tax needs of clients are all addressed through internal resources and the affiliation of Crowe Horwath International.
As you explore your businesses international opportunities, let’s talk about the results you’re looking for.