leadership

how retired partners are robbing their own firms

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masked man carrying large money bagif you don’t set policies and enforce retirement deals, your firm could become a financial hostage.

by bill reeb and dominic cingoranelli

as many as 30 percent of firms pay more to retiring partners than they initially agreed, according to our succession survey.

more on performance management for pro members: how involved should retired owners be? | firms say what would change retirement pay | action plans for transitioning partners | how retirement issues affect succession planning | how partner ratings factor into equity | develop your employees or suffer the consequences | what having your employees’ backs means | do cpa firms need management or leadership? |  job 1 for the practice owner: client management

here’s why.

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innovate or die

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photo of a skunkuse a ‘skunk works’ mentality so the compensation trap doesn’t ruin you.

by august aquila
creating the effective partnership

the focus on most cpa firms is on billable hours. while there is nothing inherently wrong with this focus, it has become the overriding focus of firms.

more on leadership for pro members: 3 ways to halt a poor leader | 5 questions for every mp to answer honestly | does your dashboard need fine-tuning? | the 4 best ways to use your senior partners | how to tell a culture change is due | today’s top six partner compensation trends | 11 steps to building a better partnership team | why your firm should be a republic | 8 financial ducks to line up now | partnership is about persuasion

there is nothing wrong with making money today, but what about building for the future? with “today” being the dominant focus, what is the encouragement to cpas to innovate? in most firms there is no alignment with innovation and compensation.
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the robo-cpa: jim sikich prepares for disruptive technologies

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sikich
sikich: today only 20 percent of revenue comes from audit, and 15 percent from tax. the rest comes from management advisory services, led by technology, which accounted for about 50 percent of its total revenue.

sikich_logoif ibm’s watson is smart enough to play chess or jeopardy, can robotic tax prep and audits be far behind?

by 卡塔尔世界杯常规比赛时间 staff

the technology revolution is on pace to change the accounting profession much more than it already has, with the potential to replace accountants in work that ranges from tax preparation to high-level business consulting, warns james a. sikich, chief executive and managing partner of the sikich accounting and consulting firm in naperville, ill.

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