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busy season management

survey results: busy season outlook 2013

what accountants talk about when they talk about busy season 2013

mergers, tech and the economy create a volatile mix in forecasting filing season.

by rick telberg
join the survey; get the updates.

washington gridlock, last-minute tax changes and continuing economic uncertainty are undermining tax professionals’ outlook for the 2013 filing season, according to new 卡塔尔世界杯常规比赛时间 survey results.

the new survey results shed light on:

  1. the changing mood of the profession and it’s leading competitors and decision-makers,
  2. the effects of mergers and new technologies,
  3. the chief operational, competitive and economic concerns,
  4. expectations for key financial metrics, including revenues, profits and number of clients, and
  5. the strategies firms are implementing to cope with the issues and opportunities.

despite political gridlock and economic uncertainty, practitioners are trending increasingly confident about how well their firms will perform this season. most are looking at advances in total revenue, net profit, number of clients, number on extension, revenue per client, and profit per client.

for example: read more →

management

management philosophy of a cpa firm

 

what many firms get backwards.

by marc rosenberg, cpa
author of “cpa firm management and governance.”

i have used the flowchart you see here for nearly 20 years and it has not lost one iota of relevance in demonstrating how to effectively manage a cpa firm. its message is simple yet powerful.

most firms make the mistake of managing from the bottom of the chart, and try to work their way up. the firm is primarily managed by:

  • appointing a managing partner who usually is the guy with the biggest book of business but often is a lousy manager.
  • allocating income based on an “eat what you kill” mentality. the partners reason that altering the size of one’s paycheck is the best way to provide feedback to a partner which will, in turn, lead to improved performance.

there are many flaws to this management approach, a couple of which are: read more →

busy season management

five ways for partners to lead by example this busy season

dustin hostetler

this busy season will test new processes – and a firm’s leadership. [how are accountants feeling about about busy season? join the survey; get the answers.]

by dustin hostetler
flowtivity

as many firms get ready to implement and leverage new and improved processes as busy season ramps up, i thought it’d be worth considering a few pointers for the partner leadership group to keep in mind over the next several months.

related: the coming storm in staff turnover (video)  | three strategies to improve buy-in for change

and i should probably add a disclaimer to take the accounting hats off for a minute and realize this isn’t an exhaustive list nor is it literal in every example.  there are always going to be exceptions, but the more you can abide by the following ideas the better off your firms will be and you’ll be providing better client service as well. read more →

outlook & analysis

how to negotiate a cpa firm merger

this monograph guides you through all of the issues, considerations and details related to cpa firm mergers.

author marc rosenberg, cpa, has frequently helped cpa firms assess the benefits of mergers and manage the negotiation process when the decision is made to merge. the goal of the monograph is to help cpa firms decide when to merge and manage the negotiation process effectively.

order now for $165

(plus shipping and handling. please allow 2-3 weeks for delivery.)

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outlook & analysis

overcoming the three biggest obstacles in succession planning at cpa firms

hint: start linking it to compensation.

by marc rosenberg, cpa
author of “cpa firm succession planning”

it’s common sense that the key to succession planning is developing future leaders, a practice at which the vast majority of cpa firms billing under $15-million-a year struggle with.

marc rosenberg
marc rosenberg

more on cpa firm management and leadership for pro members [go pro here] :   cpa firm merger “non-negotiables”   •   the “aha moment” in cpa firm leadership   •    leadership is overrated: it’s good management that makes successful firms •  40 great ways to improve firm profitability  •  four management metrics that fool even the best-run firms  •  19 ways to improve accounting firm profitability • de-bunking the myth about niche marketing for tax and accounting firms • practice development is no longer an optional activity • 10 good ways the achieve partner accountability • pick your partners right to begin with • the first nine questions your partner team needs to embrace for optimal profitability • profitability and the value of strategic thinking • the five essential building blocks for creating a strong accounting firm • the seven signs of great leadership in a cpa firm • compensation issues for the new managing partner •

here are three tactics for developing future leaders: read more →

outlook & analysis

the 16-point partner compensation checkup

how to slice the profits pie.

ever wonder about revamping the partner compensation system for your firm? but how to assess partner performance?  and how to reward the right things?

a firm’s compensation system is a reflection of its culture and competitive realities, according to august aquila, a regular 卡塔尔世界杯常规比赛时间 contributor and leading practice management consultant.

more for cpa firm partner groups at 卡塔尔世界杯常规比赛时间 pro members:  seven ways to build the right culture | how to change a partner  | how a founding partner passes the baton to a new managing partner   |   six reasons not to plan for succession   |  how to apply sam walton’s 10 rules for success at your firm |   nine steps to effective succession planning for the small firm |  thinking merger? look before you leap 

if it’s been a while since you gave your comp system a checkup, then you might be interested in aquila’s 16-point partner compensation checkup questionnaire to get you thinking about how effective your current compensation plan is:

read more →

outlook & analysis

survey results: despite fiscal cliff, accountants remain relatively upbeat for the year ahead

not so sure, however, about their clients or the rest of the u.s.
click here to take survey and get the results.

tax and accounting professionals are entering 2013 with deep concerns about the u.s. economy, but are more confident about their abilities to survive and thrive nonetheless, according to a new 卡塔尔世界杯常规比赛时间 poll.

how confident are you…?

the poll compares the industry’s confidence levels for the economic outlook in four areas: themselves and their families, their firms or organizations, their clients and customers, and for the nation in general. the discrepancies are sometimes jarring – and their remarks reveal much about the industry’s psyche, as well as some business strategy. read more →

outlook & analysis

a&a update: clarified auditing technical literature [podcast]

practical accounting and auditing guidance from the plain-english a&a update service by dr. thomas a. ratcliffe, phd, cpa

executive summary

the accounting and auditing issues that are discussed in this bi-weekly report are as follows:

1) au-c section 560: subsequent events & subsequently discovered facts – in implementing the clarified auditing technical literature beginning with calendar-year 2012 financial statement audit engagements, auditors will find new guidance that needs to be followed in addressing subsequent events and subsequently discovered facts.

2) au-c section 580: written representations from management – the clarified auditing technical literature also contains new guidance associated with written representations from management that are required to be received as an integral part of each financial statement audit.

3) au-c section 585: consideration of omitted procedures – in implementing the clarified auditing standards, auditors also need to consider new guidance associated with how omitted procedures should be addressed.

click here for the quick, 12-minute podcast:

read more →

outlook & analysis

six ways to stay positive in 2013

how to remain on track despite setbacks and detours.

nick keseric
nick keseric

by nick keseric

is there a change? is the economy showing some slight signs of getting a little bit better and stronger? is it the beginning of a new year that brings new hopes?

i actually believe that some of those frowns that people have been wearing for years are beginning to be turned upside down a little more these days. do i dare say it, but are we becoming more positive? read more →

outlook & analysis

survey results: accountants’ new year’s resolutions — 2013 edition

‘tis the season for new promises and plans. 

we’ve been asking finance and accounting accounting professionals about what 2013 may hold, and you’ve been answering. to get all the details, click here to join the survey and get the results.

meanwhile, here are a few sample new year’s resolutions from colleagues and peers. some may sound all too familiar from resolutions made in 2012. personally, i’m still working on the lose-15-pounds resolution from 2012, and, er, 2011, 2010, 2009… oh well.

— rick telberg
president / ceo 

new year’s resolutions from finance and accounting professionals:

  • new seo plan for getting higher ranking on google.
  • working with tax resolution professional and preparing returns for them at a split fee.
  • work more on marketing
  • downgrade expectations.
  • get more audits of private companies.
  • work, work and work, because of so much competition and unemployment, the best bet is to keep busy by working and get the maximum out of colleagues/sub ordinates. i will not be carried away with number 13, this is my lucky number so i will capitalize on this number. read more →