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Profit Planning and Cost Accounting for Law Firms

by: Samuel Catanese, CPA

Most service industries do not believe that cost accounting applies to them, and believe that it is strictly for other industries such as manufacturing. How could you possibly have cost accounting for a law firm?

I am here to say that all law firms should implement a cost accounting system if they want to understand their own business. By implementing a cost accounting system, you will be able to determine if clients are profitable. You can tell if producers – attorneys or paralegals – are profitable. You can tell if divisions within the firm are profitable. If you have a firm with multiple offices, you can tell if each office is profitable. This information is valuable when considering mergers or acquisitions.

  • Posted: February 17, 2015
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Catanese Group Hosts Local College Juniors for Third Annual “Leadership Day” Event

Top Row (left to right): Samantha Britton (UPJ), Lex Winkelman (UPJ), Alina Allison (UPJ), Connor Bowie (Mt. Aloysius), and Allen Musselman (Mt. Aloysius) Bottom Row (left to right): Brittany Davis (UPJ), Anne Rummell (St. Francis), Katie Duttry (UPJ), and Christina Hrubochak (St. Francis)

On February 7, 2015, our Partners and Staff hosted nine local college juniors at our third annual “Leadership Day” event at Sunnehanna Country Club in Johnstown, PA.

Leadership Day is an opportunity for accounting students to learn valuable information on making the transition from accounting student to accounting professional.

Accounting students from three area colleges and universities were chosen based on their leadership skills and academic performance. Accounting faculty from the University of Pittsburgh at Johnstown, Mount Aloysius College, and Saint Francis University were given specific criteria and made their selections from their respective accounting students.

  • Posted: February 17, 2015
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Catanese Group Hires Three New Employees

We are pleased to welcome three new members to our accounting firm!

Donna Deist, CPA, MST, has joined Catanese Group as a Tax Supervisor. She will oversee individual and business tax compliance for the firm. She has a Bachelor of Arts in Economics from Washington & Jefferson College, as well as a Masters in Taxation from Capital University Law School. She …

  • Posted: January 30, 2015
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Partner Carl Vulcan Served as Chair of Local “Light the Night” Walk

We are proud to announce that one of our five Partners, Carl Vulcan, CPA, has served as this year’s chair for the Leukemia and Lymphoma Society’s “Western Alleghenies Light the Night Walk”, an annual fundraising event that occurred at the Pitt-Johnstown Campus on Saturday, October 4, 2014. In addition, our Firm Administrator, Sandra L. Frantz, was named a member of the walk’s Executive Committee.

We have been involved with the Leukemia and Lymphoma Society and the “Light the Night” Walk for decades, serving as corporate sponsor for the event. Several of our employees have personal ties to blood cancer survivors – those diagnosed with leukemia, lymphoma, myeloma, Hodgkin’s disease and MDS – and ties to those who have tragically lost their lives fighting those diseases.

  • Posted: October 17, 2014
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Two of Our Partners Attend Leading Partner Retreat

Partners Samuel Catanese, CPA and Joseph DeYulis, CPA attended CPAmerica International’s 2014 Leading Partners Retreat in Portland, Oregon on September 17-19, 2014.

The meeting was an annual event sponsored by CPAmerica, which brought together over 100 managing partners to discuss topics of high interest to CPA firms. The agenda for the event included national speakers and various topics.

Our firm is an exclusive member of CPAmerica, one …

  • Posted: October 1, 2014
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