comp plans for the new managing partner

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 →

12 fast, low-cost tips for a stress-less tax season

stress management is critical to a successful season.

by sandi smith, cpa
accountant’s accelerator

i don’t want to stress you out, but we really do need to do something about our stress levels.

the american psychological association says our kids are getting headaches, having difficulty sleeping, and eating too little or too much due to pressure from school and household finances. the worst part is that  most parents were not aware of the severity of their children’s stress.

many adults reported not knowing what to do to change their lifestyle so they could reduce their stress, so it just makes sense to talk about this a little.

here are the most common stress-reducing tasks that some people do, according to the survey: read more →

how managing partners spend their time [pro member exclusive]

by marc rosenberg
author of “cpa firm management and governance.”

managing the firm, rainmaking, client management. all vie for the managing partner’s time.

marc rosenberg
marc rosenberg

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 →

who should earn more: the managing partner or the rainmaker?

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:

  1. the partner’s role in the firm, the relative values of the various roles (mp, rainmaker, client handler, qc expert, niche specialist, administrator, etc.) and how well the role was performed.
  2. the extent that the partner achieved his/her goals.

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 leadershipleadership is overrated: it’s good management that makes successful firms40 great ways to improve firm profitabilityfour management metrics that fool even the best-run firms

there are three different roles a partner can play: read more →

five new tax season tips to provide consistency in service, processes, and standards

ed mendlowitz

by ed mendlowitz
adapted from the 2013 tax season opportunity guide

one way to guarantee extra work is to have everything always done differently each time it is done.

not establishing uniform procedures is bad business and unnecessarily consumes part of your life.

consistency in performance reduces work and review time and creates a greater reliance on the staff people.

checklist: read more →