when not to charge for an initial consultation

bonus: a sample initial business valuation consultation engagement proposal.

by ed mendlowitz
2022年世界杯预选赛分组

q: i was wondering what your thought is regarding initial consultation fees.

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currently, i do not charge a fee for an initial consultation, and it seems that most cpas do not charge either (at least not the sole practitioners that i know).
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2022年世界杯小组赛名单

young businessman staring at laptop computer in officedon’t skip the notes.

by ed mendlowitz
2022年世界杯赛程表时间

how do you start reviewing a financial statement? like any good book, you must start at the beginning.

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but where is the beginning? and how can you do it in only seven minutes? here is how …
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2022年世界杯赛程表及结果

the quick and easy system for measuring top talent.

by ed mendlowitz
2022年世界杯预选赛分组

q: i suspect that my partner has “maxed out” and cannot grow further, which will retard our growth. what can i do or how can i deal with this?

more: how to stop yourself | what good managers know about bad judgment | 世界杯预选赛直播 | 世界杯欧洲区预选赛赛程积分 | 10 reasons clients don’t pay
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a: this is a frequent question, and sometimes it is the person asking it who has “maxed out.” but sometimes the partner or a key staff member wants to be made a partner.

i developed a knowledge gap (“kg”) method to provide a way of measuring the difference in growth when you interact with people.

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when an audit is a great thing

two businessmen talking at officebonus breakdown: audits vs. reviews vs. compilations.

by ed mendlowitz
2022年世界杯赛程表时间

one of my clients generously gave me his take on the benefits he received from the audited financial statements we issued for him. i was appreciative of this and want to share his views with you.

more on advisory: how to read a financial statement | the kpi an absentee manager needs | 2022足球世界杯直播 | 世界杯预选赛直播欧洲 | 2022年世界杯小组赛名单
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he began with an introduction explaining how he started his business and shepherded its growth by concentrating on developing his services and delivering them quickly and on time to his clients. the business grew rapidly, and little time was spent on the recordkeeping except for getting invoices to the clients or making payroll, while keeping the back office as lean as he could. at the same time there were legal, regulatory, hr, occupancy and tax issues from operating in multiple states and countries and he was spending quite a lot of time and fees on these activities, because he had to, while pushing aside and neglecting the accounting work.
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how to stop yourself

or not! but be conscientious about it.

by ed mendlowitz
2022年世界杯预选赛分组

q: sometimes i get stuck doing work that the client did not ask me to do, that is not chargeable and simply a waste of time, but i get trapped (by myself).

more: what good managers know about bad judgment | 世界杯欧洲预选赛直播平台 | why partner retreats are worth the cost | selling your practice is not a retirement strategy
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any words of wisdom to avoid this?

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how to read a financial statement

young black woman with magnifying glassfifty pages of notes? review them all.

by ed mendlowitz
2022年世界杯赛程表时间

publicly traded companies are required to issue audited financial statements annually. there are seven parts of the statements that are briefly described here in the usual order they are presented:

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1. report of independent registered public accounting firm. this provides their opinion that the financial statements were in conformity with u.s. generally accepted accounting principles (gaap); that the company maintained effective internal controls; that the audits were conducted in accordance with standards of the u.s. public company accounting oversight board (pcaob) and some other things and that their audits provided a reasonable basis for their opinion; and that the internal control may not prevent or detect fraud. this needs careful reading and understanding, as do all seven elements of the statement, but on some level, this type of report is the gold standard for public companies.
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what good managers know about bad judgment

yes, you can teach staffers how to make better decisions. here’s how.

 by ed mendlowitz
2022年世界杯预选赛分组

q: recently, a colleague asked me, “how do you teach judgment?” and before i could respond, he answered it himself with, “you can’t teach judgment!”

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a: everyone working for you has and uses judgment – they have homes, families, organizations they belong to, and they manage their careers. each of these requires exercising judgment many times a day. they all have judgment.
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the kpi an absentee manager needs

psst … you might be that absentee and not know it.

by ed mendlowitz
2022年世界杯赛程表时间

the author contends that almost every business owner or manager is an absentee owner or manager, regardless of the amount of time they spend at their business.

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while many are ever-present either physically or virtually by phone, texts and emails, they are not managing but rather working in their business on what needs to be done at that moment or that day. they are responding to normal business routines; customer, supplier and personnel requests or problems; and myriad other situations that demand their time, such as banking relationships, cash flow planning, hr issues including hiring, discharging and compliance, interactions with outside professionals, including their attorneys and accountants, and regulatory and occupancy issues. some have partner issues and if they are managing a not-for-profit organization, then board and possibly funding and development issues. they are functioning as a necessary and essential employee and are not really running the business or organization – as if they were not there or were in another part of the country.
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世界杯欧洲预选赛直播平台

consider privacy issues.

by ed mendlowitz
2022年世界杯预选赛分组

q: i try to respond quickly to my clients’ calls and emails, but now they even call me at home. what can i do about this?

more: how to handle referrals with attorneys | 世界杯预选赛直播 | 世界杯欧洲区预选赛赛程积分 | 10 reasons clients don’t pay
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a: you told me you have an office and also give your clients your cell number to use. you also told me that you carry a smartphone and told your clients you prefer emails and can respond quicker to them. you also told me you get many compliments on your responsiveness.
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how to expand into business valuation

bonus checklist: 47 types of bv services.

by ed mendlowitz
2022年世界杯预选赛分组2022年世界杯预选赛分组

q: i am exploring the business valuation credential as a way to expand our practice. i’m still (relatively) young to the profession and would (i think) love to expand into this niche area.

more: how to handle referrals with attorneys | 世界杯预选赛直播 | 世界杯欧洲区预选赛赛程积分 | 10 reasons clients don’t pay
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a few things:

  • we don’t do any bv now so my ability to acquire the abv credential would be difficult without the experience aspect.

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2022足球世界杯直播

mature businessman holding an electronic tablet inside an office buildingconsider how the data will be used.

by ed mendlowitz
2022年世界杯赛程表时间

key performance indicators (kpis) are shortcuts and tools to give managers a quick grasp of essential activities enabling greater control. whether a manager runs a business, not-for-profit, governmental unit, department or a small group, kpis can help the manager be more effective, achieve goals and better serve customers, stakeholders or others relying on the organization.

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managers need to develop the kpis that will help them the most. this development should be based on what they are doing now (with some tweaking) so they get four or five numbers daily that will not take more than three minutes to absorb, assess and activate changes, if necessary. transparency and sharing the kpis will also draw team members into the process.
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how to handle referrals with attorneys

let’s redefine currency: seven forms, and none are cash.

by ed mendlowitz
2022年世界杯预选赛分组

q: i referred a large amount of business to an attorney friend, and she hasn’t reciprocated. i asked her for a referral fee and she declined. i’d like to keep referring her because she does a great job for my clients and that makes me look good, too. what should i do?

more: 世界杯预选赛直播 | why partner retreats are worth the cost | 2022世界杯晋级名单 | 世界杯欧洲区预选赛赛程积分 | selling your practice is not a retirement strategy | thirteen things to know before selling your practice | 10 reasons clients don’t pay
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a: it is always the right thing to look out for your clients’ best interests. referring the best attorney you know for a job is the right thing to do. but…

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世界杯预选赛直播欧洲

take action today.

by ed mendlowitz
2022年世界杯赛程表时间

this list is a guide to jog additional thought about a client’s business. i have done all of these, and, at some point, i started making a list to help me remember. i also used it to help staff choose a few items each time they performed services for a client as a value-added benefit to the client.

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the listing can also be used a guide for a separate engagement. either way, the emphasis should be to provide information to the client about their business that the client does not already consider, focus in on or know about.
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世界杯预选赛直播

step away.

by ed mendlowitz
2022年世界杯预选赛分组

q: i have a friend who runs a small cpa firm. he has a client who owns some motels across the u.s. who sold them to a large company.

more: why partner retreats are worth the cost | 2022世界杯晋级名单 | 世界杯欧洲区预选赛赛程积分 | selling your practice is not a retirement strategy | thirteen things to know before selling your practice | 10 reasons clients don’t pay
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their auditor, a big 4 firm, would like to review his prior year audit papers and he has asked me to review his work papers beforehand and make sure that they are in good shape for the big 4 firm. as he is a small practice, his work papers are likely to be not as sophisticated as the big 4 is used to seeing.
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why partner retreats are worth the cost

send your toughest questions to ed at emendlowitz@withum.com

new environment, new ideas.

by ed mendlowitz
2022年世界杯预选赛分组2022年世界杯预选赛分组

q: is there any value to a retreat?

more: 2022世界杯晋级名单 | 世界杯欧洲区预选赛赛程积分 | selling your practice is not a retirement strategy | thirteen things to know before selling your practice | 10 reasons clients don’t pay
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send your toughest questions to ed at emendlowitz@withum.com

a: absolutely! retreats are very important to reconnect with your partners and reassert why you are in business and what you hope to accomplish, in addition to making a living and not having to work for a boss who isn’t as good or nice as you are.
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