smart trust in the workplace
summer reading: smart trust: creating prosperity, energy, and joy in a low-trust world
by steven e. sacks
leadership
are you ready for the new lease accounting standard?
8 steps to take.
at the start of 2019, the implementation deadline for the financial accounting standards board’s (fasb) new lease accounting standard passed for public companies.
now, the focus – and pressure – is on privately held organizations, which must adopt the requirement by 2020.
and new research suggests that many of these firms may find themselves scrambling to meet the deadline for compliance.
read more →
the #1 problem: staffing, staffing, staffing
client
smallest firms plagued most by growing tax complexity.
via aicpa
staff recruitment remains the top issue for most cpa firms, while growing tax complexity and risk management regarding privacy and data security are rising challenges, new research by the aicpa shows.
today’s best talent, career, and growth strategies
join the survey: get the answers.
“finding qualified staff” is the no. 1 issue for every firm-size segment except sole practitioners, according to the 2019 pcps cpa firm top issues survey, matching the topline results from the last survey two years ago.
10 elements to balancing shareholders’ needs
summer reading: corporate concinnity in the boardroom
con·cin·ni·ty
/k?n?sin?d?/
noun
the skillful and harmonious arrangement or fitting together of the different parts of something.
by steven sacks
every so often i come across a business book that addresses an ongoing organization challenge in a thoughtful, practical and effective manner. this is what i discovered when reading “corporate concinnity in the boardroom” by nancy falls.
more summer reading: stop wasting time in useless meetings | a leader’s guide to ending entitlement
the title does not limit the book’s scope; the treatment of the topic applies to boards in the public, private, not-for-profit and academic sectors. read more →
the only three metrics you need to measure staffers
a totally virtual firm takes a new tack.
by jody grunden
summit cpa group
if you want to grow your accounting firm, it’s important to evaluate the effectiveness of your process on a regular basis. you want to be aware of what’s working well and what’s not. you also want to continually be improving upon your services over time.
more grunden: misconceptions and truths about remote work | how summit cpa group is pioneering virtual cfo services
there are three things you can specifically monitor when it comes to the effectiveness of your team. here’s how we do it at summit cpa group. maybe these ideas will work for you too.
read more →
why you must constantly push work down
new staff won’t work the hours you did. forget that notion right now.
by bill reeb and dominic cingoranelli
as we work with firms throughout north america, one of the most constant, critical issues we find is that of staffing gaps. those gaps are manifested in shortfalls of billable hours, as well as shortages of people, and a lack of critical competencies of people – all at various levels throughout the firm.
more on performance management: when the inmates are running the asylum | the two most common management styles | different roles for different partners | how big ‘books’ hurt firms | developing a three-year vision [video] | more merger questions than you imagined | mps: how to elect them … and fire them | partners as role models: the good, bad & ugly
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in these situations, we tend to find that often the partners, and sometimes the managers, are billing too many hours. meanwhile many staff, especially at the lowest levels within the firm, consistently are missing their billable hour targets.
read more →
stop wasting time in useless meetings
summer reading:
moments of impact: how to design strategic conversations that accelerate change
by steven sacks
strategic conversations aren’t just for the boardroom; they belong in the offices and the cubicles.
how to hire and manage great admin staff
3 key points to remember.
by frank stitely
the relentless cpa
you can divide staff into four categories: administrative, entry-level preparer, advanced preparer and manager.
more: the right way to assign staff projects | some uncommon advice on hiring full-time staff | what goes into a client project? | value pricers ignore half the pricing puzzle
i’m tempted to state that administrative employees are the most important people in your firm. i won’t go quite that far, but your administrative staff are every bit the face of your firm that you are.
read more →
the eternal riddle of being an effective leader
4 characteristics. also: leading vs. managing.
some form of leadership probably has been around since the dawn of time. the early cave man with the largest club became the leader of the clan.
more: grissom and aquila on partner performance evaluations | august aquila: what marketers need to know about pricing | client centricity leads to profitability | 6 steps to making your new pricing happen | applying cobb’s value curve to your firm
sometimes this type of leadership can still be found in businesses today – accountants and lawyers have just replaced the club with a book of business or rainmaking skills.
read more →
the right way to assign staff projects
… and then manage their workloads.
by frank stitely
the relentless cpa
let’s talk about assigning staff to projects. understand that this discussion will mean nothing the first two weeks of april, when you may be assigning the family dog to some returns.
more: some uncommon advice on hiring full-time staff | managing people: the heart of effective project management | tammy’s tale of tax season tardiness | beware the leeches and consultants | the value-pricing con job | the 21st-century cpa firm | ruthlessly efficient workflow management | the annual tax meeting is dead. clients killed it.
and that makes perfect sense in those circumstances. i’ve done worse. who knew that goldfish can’t type?
read more →
what aspiring accountants need to know
the five keys to kick-starting new careers they don’t teach in college.
by steven sacks
neithetechnology nor accounting are the most important factors.
managing people: the heart of effective project management
remember, bad clients crowd out good ones.
by frank stitely
the relentless cpa
somewhere in the period between the neanderthals and homo sapiens, the first accountant evolved.
more: workflow for dummies | what goes into a client project? | value pricers ignore half the pricing puzzle | cpas can’t help you | the agile accountant | the cure for commoditization
he looked around and realized this earth thing might become immensely profitable and set out to get capital gains treatment.
keep your firm from biting the dust
checklist: the 12 key objectives and 23 day-to-day responsibilities of successful managing partners.
by domenick j. esposito
8 steps to great
while there are lots of reasons why small and midsized cpa firms don’t realize their full potential – and, in some situations, fail or bite the dust – we have found that the downward spiral of a firm usually starts with the managing partner.
more on strategic planning: 6 ingredients for firm value | 4 ways to add $100,000 in new business fees every year | prune your firm: ‘rightsize’ managers and partners | ineffective management is hazardous to your firm’s health | profitability requires discipline | pitching vs. pursuing
the managing partner is the heart and soul of any cpa firm – the shepherd, orchestra leader, or quarterback, if you prefer, of the partner group – who didn’t fully understand the key objectives and day-to-day responsibilities of his or her role, and therefore, failed to operate on all cylinders.