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- W223972435 abstract "Imagine this scenario: A large corporation is undergoing a merger. needs seasoned finance and accounting staff who have hands-on experience coping with all the quirks of acquisitions. However, the expanded company isn't in a position to hire new staff and, even if it could, the need for these people would basically evaporate once the merger is accomplished. Because of changes in corporate attitudes and in the nature of employment itself, more and more companies find themselves seeking high-level employees for short-term projects. In 1990, four CPAs with backgrounds in Big 6 firms and in industry decided this development had created a marketplace niche they could fill. They created Accountants 4 Contract, a company that provides businesses with high-end accounting, finance, tax and business management talent for assignments that might last from a few weeks to a couple of years. AN EXCITING TiME Dan Maisler and two of his cofounders met while working together in the 1980s at Wells Fargo, which was in the midst of acquiring Crocker National Bank. were all very much involved in the Crocker acquisition, he recalls. It was an exciting time because there were a lot of new challenges We were breaking new ground. But although the company was pulling out all the stops to get the job done, found there wasn't a lot of help available. The company didn't want to do any permanent hiring despite the big budget for the project. had to scramble to find highly qualified people to work on the merger who wouldn't be permanent hires. Maisler was later recruited to work at Pacific Telesis, which was continuing to build an infrastructure after the AT&T spinoff, another situation in which the company needed high-level experience for a finite period. He later worked as a consultant, finally meeting up in 1990 with two of his CPA colleagues from Wells Fargo, who were also consulting. All three had worked independently or through short-term placement agencies, and found that many of the people sent by temporary agencies were not of the same caliber as a CPA with high-level industry experience. Having stumbled onto this gap in the marketplace, we decided to do something about it, Maisler says. The founders' first planning sessions were in restaurants in the San Francisco area, but they later had to meet at their own dining room tables when they noticed other diners eavesdropping on details of the new venture. They set out to offer experienced accounting and finance help to a range of companies--financial services, manufacturing, distribution, retail, not-for-profit, hospitality, legal, real estate, health care and public utilities--on a temporary basis. They initially expected to serve midmarket companies, but these businesses weren't spending any extra income in the lean early 1990s. Larger corporations, however, had cut back substantially on employees in the downsizing binge and were happy to shore up their knowledge gaps with high-level temporary help. got very large clients very quickly, says Maisler, including Itel, Wells Fargo and the Bank of America. In one 60-day assignment, a bank used a temporary accounting manager to conduct due diligence on loan portfolios when it acquired several mortgage companies. Another associate from Accountants 4 Contract later integrated the mortgage companies' accounting systems with the bank's systems in a four-month job. When the bank standardized all its mortgage accounting systems, four associates spent 1 1/2 years completing the assignment. In another case, a large biotechnology company employed a construction specialist with 20 years' experience to oversee accounting, cost allocation and estimating when it built a new research facility. In a project that may take three years, a food manufacturer brought in a team of associates at different experience levels to help a division reconcile receivables during a relocation. …" @default.
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- W223972435 date "1998-06-01" @default.
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- W223972435 title "Long-Term Success in the Short-Term Employment Market" @default.
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