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women lag men in accounting jobs recovery

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new records set in hourly earnings.

by beth bellor

across the tax and accounting industry, almost all the jobs relinquished by men in the coronavirus layoffs have been regained by men. the jobs given up by women, on the other hand, are still largely vacant.

more on jobs: comeback stalls as layoffs hit 1,500 in accounting | tax & accounting regains 3,800 jobs | accounting jobs recovery slows | tax & accounting firms rehire two-thirds of pre-covid workforce | tax & accounting firms rehire two-thirds of pre-covid workforce
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overall, the tax, accounting, tax prep, payroll, and bookkeeping sectors employed 1.02 million full-time equivalents in march 2020, before 70,000 layoffs hit in april. so far, the industry has re-filled all but 17,600 positions.

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how a good managing partner impacts profitability

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10 best practices.

by marc rosenberg
the role of the managing partner

i have compared a “true” managing partner to an administrative partner. both are important positions. both share many common duties and expectations. but true managing partners are more valuable because they function like corporate ceos and thus make a bigger impact on the firm’s overall performance than admin partners.

more: the 9 biggest merger pitfalls | the managing partner’s role in mergers | five ways to evaluate partners | manage partners with goal setting | overarching authority that managing partners must have
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these three duties differentiate true managing partners from admin partners. true managing partners

  1. manage partner performance and behavior
  2. hold partners accountable
  3. drive the firm’s growth and profitability

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what do clients really want?

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think about how well you know their aspirations.

by gary bolinger

most cpas believe that they have the answers to clients’ most pressing questions, but often miss the mark on what clients really want.

more: how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
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we think they want advice on how to:

  • make more money
  • establish a successful business
  • gain more customers or clients

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wealth is a state of mind

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businessman holding two papers with happy and angry face each on themtwo clients, one rich and one poor.

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

some time ago i had breakfast with a client who was not able to make ends meet but was fortunate to have his brother-in-law send him monthly checks so he and his wife could get by without any pressure.

more: one hour a year since 1972 | finding new business in sustainability | 14 simple, easy tips for a better tax season | how to recoup staff training costs | 10 ways to stay in control | advice to new accountants | clients don’t lose sleep for overpaying taxes | when time-based pricing works
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i had a very pleasant time talking with him and he was a truly happy and content man. it was a pleasure to be with him.
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how to attract the super-rich

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money tree growing in the middle of green meadowmake the boom in tax services work for you.

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

tax planning is in very high demand by the wealthy, growing exponentially in importance as you move up the wealth hierarchy.

more: smaller firms can excel as family office practices | trendwatch: new revenues in financial stress testing | become a thought leader | working with the super-rich and single-family offices | the family office model | the new way to get the best clients
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for a large percentage of the super-rich (net worth of $500 million or more) with various private company interests, astute tax planning is the most valuable expertise – far exceeding other services such as investment management.

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don’t fire that staffer on may 18!

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midsection of businessman moving out with cardboard box from officefour reasons not to let people go after tax season.

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

question: i am planning on letting go of some staff after tax season and will hire replacements at a higher level. any suggestions?

more: what to do with a lousy client? | stop drowning in client documents | make more money starting now | the wrong way to look for staff | strategic planning for the small firm | before you sell your practice | work the client needs … but won’t pay for
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answer: 1) your implication is that you will hire replacements at a higher level.
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7 signs your accounting firm agreement falls short

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will it work and does it make sense?

by steven e. sacks
the new fundamentals

earlier i discussed that engaging in what is considered conflict avoidance can undo the progress a firm has made. this can be because of complacency, frustration, intimidation or a host of other issues.

more: effective networking is an art | avoid last-minute deal making | business is about relationships | can a cpa firm be different in a changing market? | a rapidly changing business environment requires flexibility | another meeting?!?! … sigh | organizational trust: top-down and bottom-up | how can change management really produce change? | trust: one building block of success
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some things are intuitively understood, but it’s those occasional sticky matters that tend to make situations unravel. establishing and keeping agreements helps to avoid confrontation; the one typically arising from someone promising to do something in a timely and complete manner and within a specified budget. even if the firm’s board casually agreed on a matter, something can go awry and threaten the direction of the firm.
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how to decide on your firm’s cas pricing

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businessman and tablet with the word "pricing" above.make sure your midlevel offering is as profitable as possible.

by hitendra patil
the definitive success guide to client accounting services

when your prospects shop for client accounting services, what they find out about pricing methods and trends defines their expectations. if you follow very different approaches to price your cas offering, it will take significant effort on your part to educate the prospects (and existing clients) about why you are pricing cas the way you are.

more: cas pricing and the accounting profession | how cas communications are different | your firm’s processes can set you apart | technology and your cas clients | top five cas killers and how to overcome them | 21 ways to adjust your practice in 2021
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as they say, it’s easier to ride the horse in the direction it’s going. it is good to first conform to the perceptions of prospects when it comes to your cas pricing. once you ride the horse, you can direct it to the destination you want to take it to. once you conform to the pricing method (not the dollar value) expectations of the prospect, their anxiety and perception of risk (what value will they receive in the price they are willing to pay) reduce. after that, they are more open to evaluating the choices you present to them.
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why your firm’s core values matter

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two partners celebrating business success outsideyou have to know your culture to know whether potential hires will fit.

by jody grunden
building the virtual cfo firm in the cloud

a company’s core values are the cornerstone of its culture, and people are the biggest asset a company can have.

more: when value billing eliminates guesswork | make tech your ally in protecting clients | not all employees want the same perks | what running a virtual cpa firm really costs | give your leadership team time to lead | hate billing? use a different method
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defining your core values and hiring the right people is essential for the success of your business.
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173% increase in irs correspondence backlog

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who knew?

by 卡塔尔世界杯常规比赛时间

we all know how the irs works. they send a letter to a possibly delinquent taxpayer who, in quivering fear, returns a response that is slipped through the mail slot in the irs door, where it falls into a shredder that feeds into a massive onsite incinerator. the letter’s ashen remains are then loaded onto a rocket and shot toward alpha centauri, never to be seen again.

more: 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
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actually, that’s not entirely true. in 2019, irs compliance services collection operations managed to respond to 25 percent of its “inventory” of taxpayer delinquent account correspondence. the other 75 percent was considered “over-aged” after not being dealt with within 45 days of receipt.
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the 9 biggest merger pitfalls

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number 9 created by gaps between many small green plastic 9'splus 10 common criteria. how do they compare to your list?

by marc rosenberg
the rosenberg practice management library

in all industries, it’s always more difficult to find sellers than buyers. this is certainly true with accounting firms.

more: the managing partner’s role in mergers | how a great managing partner impacts firm growth | compensation is no way to manage partners | clarify partner expectations | exceptional managing partners offer their advice
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cpa firm merger consultants and brokers can do a great job finding buyers, but they are limited in their ability to dig up sellers. this is because the vast majority of all mergers and sales take place when buyers and sellers know each other and get together on their own without the help of a consultant.
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