the position of firm administrator or coo is quickly gaining in importance, and just as quickly evolving.
according to marc rosenberg, author of “cpa firm management and governance: the managing partner’s guide to running a cpa firm like a business,” there are at least ten duties that are both critically important to the firm and that define the job of the coo.
they are:
10 important factors to be taken into consideration.
by marc rosenberg
author of “cpa firm management and governance.”
marc rosenberg, cpa and author of “cpa firm management and governance,” discusses essential criteria for an effective performance evaluation of the ceo. read more →
study identifies the value-adds of a coo.
by marc rosenberg
author of “cpa firm management and governance: the essential managing partner’s guide to running a cpa firm like a business.”
in baseball, the most valuable player award is conferred to superstars of the game. there is controversy over who should win the award: the player with prodigious individual production stats or the one player in all of baseball who was the most valuable player to his team, who was indispensable, without whom the team would not be a winner.
in a cpa firm, the nominees for the mvp award are:
both our experiences with cpa firms as well as the results of several surveys we’ve done of firm administrators show that firm administrators can build a very strong case for winning the mvp award.
a survey of firm administrators
in recent years, we have conducted several surveys of firm administrators across the country.
here is a summary of key firm admin roles that build the case for the admin being his/her firm’s mvp: read more →
lessons from the best-managed firms.
by marc rosenberg
author of “cpa firm management and governance: the managing partner’s guide to running a cpa firm like a business.”
baby boomer partners are rapidly approaching retirement age, resulting in a dramatic increase in new managing partners at firms.
in fact, 卡塔尔世界杯常规比赛时间 estimates that up to 25% of multi-owner firms are operating under managing partners who are relatively new to the job, with tenures under three years. and over the next five years, one-third of multi-owner firms will undergo a change in ownership and/or control. read more →
by marc rosenberg
author of “cpa firm management and governance.”
managing the firm, rainmaking, client management. all vie for the managing partner’s time.
statistics from the rosenberg practice management survey show:
| firm size | annual billable hours | % mp to all | |
| managing partner | all equity partners | ||
| over $20m | 632 | 1,079 | 59% |
| $10-20m | 736 | 1,090 | 67% |
| $2-10m | 959 | 1,117 | 85% |
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armed with the above, my experience with firms would indicate that the managing partner’s time is spent as follows: read more →
that depends.
by marc rosenberg
author of “cpa firm management and governance.”
in allocating partner income, a firm needs to look at all performance attributes of each partner.
from a 35,000 foot altitude, firms should be reviewing these items for each partner:
more on cpa firm management and leadership: not every firm needs a general patton • overcoming the three biggest obstacles in succession planning at cpa firms • 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 •
there are three different roles a partner can play: read more →
a lesson in leadership from the front lines.
by marc rosenberg, cpa
author of “cpa firm management and governance.”
tony kendall is the ceo of mitchell & titus, a firm of over 170 professionals, 19 partners and locations in new york city, chicago, philadelphia, newark, baltimore, and washington, d.c.
shortly after taking over the reins from the firm’s founder, he orchestrated changes in the firm’s management structure, saying this: “i can’t manage this firm if i have to take a vote every time i want to make a decision.”
more on cpa firm leadership and management: what a managing partner is… and is not • when is it time to shift your firm from partnership-style to corporate-style governance? • 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 • not every firm needs a general patton • overcoming the three biggest obstacles in succession planning at cpa firms • 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•
all partners usually vote on major decisions, such as:
beyond that, most well-managed firms with a strong managing partner allow him or her to make at least 17 types of decisions without any approval process: read more →
and 25 best practices to make a merely good managing partner into a great managing partner.
by marc rosenberg, cpa
author of “cpa firm management and governance.”
an increasing number of firms are asking: do we want the firm managed by a leader, which for a cpa firm is the managing partner, or managed by one or more committees of partners? the fact is, most firms are choosing a strong leader – the managing partner.
more on cpa firm leadership and management: what a managing partner is… and is not • when is it time to shift your firm from partnership-style to corporate-style governance? • 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
but too many firms still lack a clear understanding of what a managing partner is. based on years of research, we have compiled a comprehensive managing partner job description. and we’re including the 25 best practices that make today’s best managing partners great.
managing partner job description read more →
why some firms decide they don’t want a true managing partner.
by marc rosenberg, cpa
author of “cpa firm management and governance”
over the years, i have found that many firms lack a clear understanding of what a managing partner is. often, it’s a negative conception, caused by a bad experience at their current firm or a previous one. so, to avoid a repeat of these bad experiences, the partners decide either not to have a mp or to provide for the mp position with greatly limited authority and responsibility.
more on cpa firm leadership and management: when is it time to shift your firm from partnership-style to corporate-style governance? • 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 points below clarify what a managing partner is and is not. read more →
which is best for your firm?
by marc rosenberg
author of “cpa firm management and governance.”
cpa firm management styles generally fall into two categories: partnership and corporate. for the sake of argument, let’s use the terms “partnership” and “corporate” to describe management styles, rather than legal entities such as partnership, corporation, llc, etc.
more on cpa firm management and leadership for pro members [go pro here]: not every firm needs a general patton • overcoming the three biggest obstacles in succession planning at cpa firms • 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 •
in this article, we’ll:
but leadership remains crucial to making things happen. by marc rosenberg, cpa the author of “cpa firm management and governance.” every firm asks the question, at one time or another: do we want the firm managed by a leader, which for a cpa firm is the managing partner, or managed by one or more committees of partners?
more on cpa firm management and leadership for pro members [go pro here]: overcoming the three biggest obstacles in succession planning at cpa firms • 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 •
i’ll make a case for having a strong leader. read more →
get the instant download: “merger must-haves checklist (pdf)”
by marc rosenberg
after many of you read this, you may think i’m talking from both sides of my mouth. but give me the benefit of the doubt and read on before making any snap judgments.
“non-negotiables” (others call them “must-haves” or “dealbreakers”) are the terms that the seller of a cpa firm feels he/she must have in order to do the merger. the extent to which the seller will insist on receiving his/her “must haves” is dictated by how the overall negotiations proceed. each side usually makes compromises; terms that initially were “must haves” often become “nice-to-haves” at the end of the day.
deciding your “must-haves” can be both a good thing and a bad thing at the same time. let me explain. read more →