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making partner: 15 steps to the buy-in

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also: common practices, impact of ownership percentage and alternate buy-in methods.

by marc rosenberg
the rosenberg practice management library

let’s go over structuring a new partner buy-in step by step.

more: making partner: do the math | there are two kinds of accounting firms | how to get promoted to manager | the 17 rules for making partner at a cpa firm
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we’ll start by calculating goodwill. and we’ll finish with signatures. read more →

writing a reference? here’s how

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woman working at desktop computerstick to the facts.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i have been asked to provide a reference for a former controller of a former client.

more: titles can make people happier | help! key staffer refuses to supervise people | get more done by saying no | are you marketing for 2022 yet? | but i am managing! | how are you spending the next five years?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

should i do it?
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tell managers what ownership means

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younger businesswoman and older businessman smiling and talking in office hallwaydon’t assume they see the benefits.

by gary bolinger

not long ago, i was in a firm meeting with several partners and senior managers. the plan for the meeting was for me to provide an update on current and emerging issues facing the profession and firms. the issue of succession planning came up (as it frequently does). i had been scanning the room to attempt to determine who was really tuned in and who was just warming the chair they were sitting in.

more: clients: what accountants don’t understand | why accountants fail at consulting | advisory vs. low-value clients | what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

a senior manager had caught my attention because he seemed intent on learning and understanding what was shaping his chosen profession. so, i took the opportunity to bluntly ask if he was interested in being an owner in the firm. i got a raised eyebrow from some of the partners. they obviously thought i was asking a question with a rather obvious answer. but …
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romeo, juliet, google and client accounting services

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silhouette of a woman smelling a rose against a sunsetnever tell them it’s “client accounting services.” here’s why.

by hitendra patil
client accounting services: the definitive success guide

i recently spoke with an experienced cpa who has been very keen to expand the firm’s client accounting services practice. i told her, “if your firm’s website and marketing material states you offer ‘client accounting services.’, you’d want to rewrite that content, like, immediately.”

more: why cas is great for revenue growth | survey: why some firms fall behind in cas | how cas makes firms better | cas: finding the why behind the why | how to lead clients into client accounting services | cas begins with a mindset
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

she was utterly puzzled and asked:

“but cas is vital for the future of accounting firms, and you wrote the profession’s first book on cas, so why are you now saying so?”
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making partner: do the math

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man looking at 5 keysfive times when ownership percentages shouldn’t come into play… and alternatives.

by marc rosenberg
the rosenberg practice management library

accepting a partnership invitation offers two terrific, lifetime benefits to new partners that, for most people, cannot possibly be matched in any other career pursuit.

more: there are two kinds of accounting firms | drive your profits with only four metrics | a crash course in the business of public accounting | how to get promoted to manager | how to create a path to partner | making partner: what managers need to know | the 17 rules for making partner at a cpa firm | who shouldn’t be a partner? | nine reasons people are promoted to partner | how to make partner?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if they don’t see this and agree with it, then perhaps it would be unwise for them to accept the partnership offer.

let’s do the math.
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titles can make people happier

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but some people will never be happy enough.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: my top staff person wants a better title than manager, or senior manager. any suggestions?

more: help! key staffer refuses to supervise people | 44 key attributes for assessing staffers | make cpe worth your while | what to do with a lousy client? | but i am managing! | how to run a practice in 90 pages | how improv can help accountants
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

answer: in larger firms, senior manager is one step below partner.
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why cas is great for revenue growth

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six reasons you need it, no matter the size of your firm.

by hitendra patil
the definitive success guide to client accounting services

before we get to why firms can’t miss out on cas, we need to know why business owners buy accounting software, even when their core business is not accounting.

more: survey: why some firms fall behind in cas | how cas makes firms better | cas: finding the why behind the why | how to lead clients into client accounting services | cas begins with a mindset
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in the years before the internet, accounting software was only desktop software. businesses used it to run their business processes – to issue checks, record income, and for some other processes. business owners predominantly did transactions processing, leaving the financial accounting – and compliance – to professional accountants.
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44 hard-earned tips from new managing partners

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//www.g005e.com/2021/07/08/advice-from-new-managing-partners/

everything from gaining credibility to where to turn for help.

by marc rosenberg
the role of the managing partner

the toughest lessons for new managing partners have nothing to do with taxes, accounting, or even textbook management. it’s all about people – such as people issues and handling partners, according to our straw poll survey of a handful of top-flight firm leaders.

we gleaned comments from 10 relatively new managing partners. eight are from firms with revenues from $10 million to $30 million and two are from $5 million to $10 million firms.

more: partner compensation: a potent weapon | the managing partner’s secret weapon | how a good managing partner impacts profitability | how a great managing partner impacts firm growth | clarify partner expectations | exceptional managing partners offer their advice
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we posed three questions to the new managing partners:

  1. what advice would you give a new managing partner?
  2. what were your greatest challenges when you became a managing partner?
  3. if you had to do it over again, would you approach your ascension to the managing partner job differently? in what ways?

their responses tell us as much about how to do the job well as how to fail at it.

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when cpas leave to work for a client

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money tree growing in the middle of green meadoware you sure that grass is greener?

by ed mendlowitz
call me before you do anything: the art of accounting

i know many cpas who left public accountancy to take a “better” job. for many of them this was a mistake. for some it worked out, so if you are one of the lucky few, you can stop reading what i have to say.

more: when siblings battle over the family business | readers rip: ‘she wanted her shoebox back’ | ceos don’t always know numbers | finding new business in sustainability | how to recoup staff training costs
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there are basically three types of companies the accountant could work for – a small client that does not have an in-house controller or cfo, one whose controller will be replaced by the departing cpa, or a large company that has an entire accounting staff already in place. let’s talk about working for the small companies that do not have a controller.
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how charlatans, creeps, and ghosts plague the tax profession

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aicpa backs bill to regulate tax practitioners.

by 卡塔尔世界杯常规比赛时间 research

here’s a shocking stat from the treasury department:

“… unregulated preparers who lack the training to provide accurate tax assistance … submit more returns than all other preparers combined.”

more: grappling with the tax gap | wealthiest taxpayers cheat irs out of $400 billion a year | 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

that sounds like trouble in a number of ways:

  • unwitting taxpayers may be paying more taxes than they owe.
  • taxpayers may be left liable for shoddy or shady tax preparation.
  • the irs may be collecting less than it could.
  • taxpayers may be left in a lurch when the irs has questions but the preparer has disappeared.

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there are two kinds of accounting firms

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maze with word "plan" at the centerwhich one is yours? bonus: the 25 best practices of the most successful firms.

by marc rosenberg
the rosenberg practice management library

there are two kinds of cpa firms.

the first kind of firm argues that there is not much that needs to be managed at a cpa firm. these cynics might say: “come on. running a cpa firm isn’t rocket science. you hang out your shingle. you get clients. you hire staff. you do the work. bill and collect. what needs to be managed?”

more: drive your profits with only four metrics | a crash course in the business of public accounting | how to get promoted to manager | how to create a path to partner | making partner: what managers need to know | the 17 rules for making partner at a cpa firm | who shouldn’t be a partner? | nine reasons people are promoted to partner | how to make partner?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

unfortunately, many cpa firm partners think this way – maybe not consciously, but it has the same effect.

when firms learn that the lack of commitment to firm management shown by this attitude creates problems, they often hire consultants like me to help them address these types of issues:
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6 steps to maximize referrals

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female executive greeting couplehow to foster opportunities from your wealthiest clients.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

as part of the discovery process, you are ascertaining who your wealthy clients can refer to you. in empirical study after study, accountants (as well as other professionals) say that they get most of their client referrals from their current clients. they also say that this happens because they do an excellent job for their clients.

more: it’s all about your wealthy clients | conviction + process + expertise = your next $5 million | a high-net-worth practice in four steps | don’t ignore life insurance | adultery and other messy situations | how to attract the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

another insight we find in the research is that very few professionals are doing much to foster getting referrals from their highly satisfied clients.
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