marc rosenberg, author at 卡塔尔世界杯常规比赛时间 - page 24 of 43

should the managing partner be the highest paid partner?

it depends, and not on what role you play.

by marc rosenberg
partner comp: art & science

there are two responses to the headline question. first, there is no automatic rule or customary practice that says the managing partner shall be the highest paid partner.

more on partner compensation: how large and small firms allocate income | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems | 3 subjective compensation systems | what partners earn and how they earn it | why most partner comp systems are performance-based

second, it depends on how the mp’s overall performance compares to other partners. firm management, originating clients and the size of one’s clients under management (“book of business”) are far and away the factors that earn the most income for a partner.

here are illustrations of various scenarios:
read more →

management

why you need a new partner

plus 27 thresholds and core competencies.

by marc rosenberg

bringing in new partners is vital to keeping your firm strong.

here are some key concepts that are important to understand: read more →

pay & compensation

how to set the managing partner’s compensation

a management stipend keeps the mp “whole.”

by marc rosenberg
partner comp: art & science

many firms, especially under $10 million, have a partner on board with the title of managing partner who in reality functions more as an admin partner. this post only addresses how the true mp should be compensated.

more on partner compensation: how large and small firms allocate income | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems | 3 subjective compensation systems | partner compensation 101

ok, for those of you dying to know what a true mp is, here’s the scoop. a true mp:
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featured

a startling revelation: 1 times fees is a steal

do the math and don’t be afraid to pay more or ask for more.

by marc rosenberg, cpa

partners in accounting firms are familiar with the rule of thumb that a cpa firm’s goodwill is worth one times fees; however, like many other “rules of thumb,” this notion is often incorrect.

get the white paper

when buyers begin to think about how much they will pay for a smaller firm, they often have the “1 x fees” concept in mind. then, when sellers are bold enough to ask for a price in excess of one times fees, buyers often balk because they feel that the asking price is too rich.

use this white paper to make your case.

pro member exclusive

10 best practices for setting goals

plus mission statements vs. vision statements.

by marc rosenberg
cpa firm retreats

a mission statement is:

an overarching purpose or reason for being
why we exist
motivating, distinctive and feasible
action-oriented; it should lead to change and improvement or it has no value

more on retreats: 5 reasons cpa firms are bad at succession planning | staff best practices … for the firm | staff likes and dislikes about the accounting profession | 25 ways to turn good firms into great firms

cpa firms have a very difficult time creating mission statements that are motivating and distinctive. regardless of how hard firms try, most cannot come up with a mission statement that is different from every other firm. for this reason, i advise firms to skip the creation of a mission statement.
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pay & compensation

how large and small firms allocate income

how many of these 8 criteria does your firm use?

by marc rosenberg
partner comp: art & science

for purposes of this post, we will group cpa firms according to five different sizes:

more on partner compensation: integrating partner comp with strategic planning | crash course: operating a compensation committee | partner pay: open vs. closed compensation systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | why most partner comp systems are performance-based

the big 4. they are the ultimate of sophistication, running their firms as true, colossal corporations, regardless of their legal entity. virtually none of this post relates to big 4 firms.

the top 100 firms, excluding the big 4. the 100th largest firm was $33 million in 2015.

multipartner firms from $15 million to $33 million.

multipartner firms from $5 million to $15 million.

multipartner firms below $5 million.

pro member exclusive

how to start strategic planning

16 questions to ask.

by marc rosenberg
cpa firm retreats

strategic planning is the process of examining where you are now, where you want to be and most importantly, what you need to do to get there. it’s that simple.

more on retreats: how to identify partner potential in staffers | 13 steps in succession planning | staff best practices … for the firm | 25 ways to turn good firms into great firms | make more money | how to address partner compensation at a retreat | how to decide who decides what | how marketing for cpa firms is different | how to take action after a retreat

the word “process” is very important. many people view strategic planning as an event, fixed in time, the results of which are bound in an immaculately prepared document and cast in stone. actually, strategic planning is a never-ending process. it goes through phases; it is continually monitored, changed and tweaked as circumstances warrant.
read more →

pay & compensation

integrating partner comp with strategic planning

why firms fail at strategic planning and how it relates to compensation.

by marc rosenberg
partner comp: art & science

the majority of firms under $10 million don’t have a proper written strategic plan, with partner goals, in place.

more on partner compensation: 3 non-performance-based comp systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | partner compensation: an art, not a science | why most partner comp systems are performance-based

a proper strategic plan should include these features:
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mergers & acquisitions

checklist for implementing a merger

34 action steps. got your signs and video camera ready?

by marc rosenberg
cpa firm mergers: your complete guide

most firms find that it takes three to four years to fully implement a merger. but during the first few months after the effective date of the merger, there are quite a few administrative and procedural things that need to be attended to immediately. most firms try to get as much of a head start as possible, before the effective date of the merger.
read more →

pro member exclusive

how to identify partner potential in staffers

plus tips on how to develop them.

by marc rosenberg
cpa firm retreats

do you have staff with potential to become partner? do you know how to tell?

more on retreats: staff best practices … for the firm | staff likes and dislikes about the accounting profession | partner buyout 101 | system vs. system: partner compensation best practices | partner accountability: how and for what? | management styles: partnership vs. corporate

start with the chart at right.
read more →

pay & compensation

crash course: operating a compensation committee

18 lessons to take to heart. and a few words of warning.

by marc rosenberg
partner comp: art & science

operating a compensation committee isn’t for the faint of heart. here are points all members would do well to heed.

more on partner compensation: 5 other systems for paying partners | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | how partners view compensation: it’s not all about the money | why most partner comp systems are performance-based

1. the partners must understand the heart and soul of the compensation committee (cc) approach: the system can only work if the people being judged are willing to trust the judges. period. if the partners aren’t comfortable with this, they should not use the cc.
read more →

pro member exclusive

13 steps in succession planning

plus 20 questions for introducing the topic at a retreat.

by marc rosenberg
cpa firm retreats

the best succession planning takes a step-by-step approach.

more on retreats: staff likes and dislikes about the accounting profession | 20 questions to benchmark profitability | 27 tough questions every firm needs to address | 10 benchmarking missteps | 18 essential management questions to cover at a retreat | 30 marketing and growth questions to cover at a retreat | thinking of merging? discuss it at a retreat | leave your retreat with a to do list | who should participate in a retreat? | retreat logistics: how long, what kind? | why do cpa firms conduct retreats?

1. strategic planning: what do we want the firm to look like in 5-10 years?
read more →

pay & compensation

partner pay: recapping the compensation systems

the popularity, pros, and cons of each.

chart of compensation system usage — compensation systems in use, by size of partnership

by marc rosenberg
partner comp: art & science

what is the actual usage of compensation by firms?

more on partner compensation:5 other systems for paying partners | 3 non-performance-based comp systems | the 3 best partner compensation formulas |why firms use partner comp formulas|3 subjective compensation systems|11 points in designing a partner comp system | 3 tiers of compensation | partner compensation 101|what partners earn and how they earn it | partner compensation: an art, not a science | how partners view compensation: it’s not all about the money | why most partner comp systems are performance-based

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