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driven by improving economic circumstances, the big four are geared for revenue growth of 5% to 8% in 2013, with particularly good performances expected in advisory, asia and even north america. read more →
how to give your firm the three distinct personality traits that spell outrageous success.
by sandi smith, cpa
accountant’s accelerator
i was reading chip conley’s book, the rebel rules: daring to be yourself in business. despite its title, the book doles out fairly standard business advice, except for a handful of tiny tidbits of sheer brilliance. one is the list of items that investors are looking for when considering providing startup money to new businesses.
more for soloists and small firms: accountants, do you know your opportunity number? • five ideas to reduce client price-sensitivity • rise to the top with a fresh elevator speech • four ways to practice entrepreneurial perseverance • 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make • seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients •
even if you’re never going to seek venture capital money to help to fund your practice, chip’s advice makes a great question to consider for your firm, especially if yours is a small or sole-owned firm. read more →
hint: start linking it to compensation.
by marc rosenberg, cpa
author of “cpa firm succession planning”
it’s common sense that the key to succession planning is developing future leaders, a practice at which the vast majority of cpa firms billing under $15-million-a year struggle with.
more on cpa firm management and leadership for pro members [go pro here] : cpa firm merger “non-negotiables” • the “aha moment” in cpa firm leadership • leadership is overrated: it’s good management that makes successful firms • 40 great ways to improve firm profitability • four management metrics that fool even the best-run firms • 19 ways to improve accounting firm profitability • de-bunking the myth about niche marketing for tax and accounting firms • practice development is no longer an optional activity • 10 good ways the achieve partner accountability • pick your partners right to begin with • the first nine questions your partner team needs to embrace for optimal profitability • profitability and the value of strategic thinking • the five essential building blocks for creating a strong accounting firm • the seven signs of great leadership in a cpa firm • compensation issues for the new managing partner •
here are three tactics for developing future leaders: read more →
how to slice the profits pie.
ever wonder about revamping the partner compensation system for your firm? but how to assess partner performance? and how to reward the right things?
a firm’s compensation system is a reflection of its culture and competitive realities, according to august aquila, a regular 卡塔尔世界杯常规比赛时间 contributor and leading practice management consultant.
more for cpa firm partner groups at 卡塔尔世界杯常规比赛时间 pro members: seven ways to build the right culture | how to change a partner | how a founding partner passes the baton to a new managing partner | six reasons not to plan for succession | how to apply sam walton’s 10 rules for success at your firm | nine steps to effective succession planning for the small firm | thinking merger? look before you leap
if it’s been a while since you gave your comp system a checkup, then you might be interested in aquila’s 16-point partner compensation checkup questionnaire to get you thinking about how effective your current compensation plan is:
how to brace yourself for the “baby boomer bubble.”
by gary adamson, cpa
i think about the bbb a lot. no, this bbb is not the better business bureau; it is the baby boomer bubble. there is constant reference by the news media about the aging of the baby boomers but i for one did not know exactly what it meant. until i googled it.
related: how to create a no-equity partner position in your firm | what a coach can do for you – and your firm | how to balance the six jobs of managing partner | planning a partner retreat for real results | the partner compensation checklist | how cpa firms make money in turbulent times
what i found is not good news for the accounting profession. the bbb is 76 million of us born in the united states between 1946 and 1964 and we are fairly evenly spread through those 19 years. that means the oldest of this huge bubble are 4 million folks who turned 65 last year. and, we have another 18 years to go! read more →
in response to “the problem with timesheets? not enough timesheets!“ more comments here.
by greg kyte
www.gregkyte.com / @gregkyte
frank stitely’s 卡塔尔世界杯常规比赛时间 article “the problem with timesheets? not enough timesheets,” a courageous response to what he refers to as “the value billing taliban,” was flawless from start to finish.
to start with, since most timesheet detractors are required to grow a beard, are pissed that women can read, and have up to three wives, comparing them to the taliban was spot on, and was in no way incendiary or belligerent.
with insights like frank stitely’s, we can all come closer to winning the race to the bottom.
next, he made a great call telling everyone to stop reading his article except firm owners and future firm owners. only firm owners can understand how to run a firm in the same way that only highly successful nfl players can ever be great nfl coaches. take vince lombardi. he never played pro football, and now people are like, “vince who?” read more →
not so sure, however, about their clients or the rest of the u.s.
click here to take survey and get the results.
tax and accounting professionals are entering 2013 with deep concerns about the u.s. economy, but are more confident about their abilities to survive and thrive nonetheless, according to a new 卡塔尔世界杯常规比赛时间 poll.
the poll compares the industry’s confidence levels for the economic outlook in four areas: themselves and their families, their firms or organizations, their clients and customers, and for the nation in general. the discrepancies are sometimes jarring – and their remarks reveal much about the industry’s psyche, as well as some business strategy. read more →
practical accounting and auditing guidance from the plain-english a&a update service by dr. thomas a. ratcliffe, phd, cpa executive summary the accounting and auditing issues that are discussed in this bi-weekly report are as follows: 1) au-c section 560: subsequent … continued
but that’s not the real problem.
a media outlet contacted me the other day to ask:
“what challenges or opportunities do you predict for the accounting profession in 2013?”
here’s what i told them: read more →
how to remain on track despite setbacks and detours.
by nick keseric
is there a change? is the economy showing some slight signs of getting a little bit better and stronger? is it the beginning of a new year that brings new hopes?
i actually believe that some of those frowns that people have been wearing for years are beginning to be turned upside down a little more these days. do i dare say it, but are we becoming more positive? read more →
‘tis the season for new promises and plans.
we’ve been asking finance and accounting accounting professionals about what 2013 may hold, and you’ve been answering. to get all the details, click here to join the survey and get the results.
meanwhile, here are a few sample new year’s resolutions from colleagues and peers. some may sound all too familiar from resolutions made in 2012. personally, i’m still working on the lose-15-pounds resolution from 2012, and, er, 2011, 2010, 2009… oh well.
— rick telberg
president / ceo
new year’s resolutions from finance and accounting professionals:
and why you need to be more demanding of your it vendors.
with technology constantly changing the rules of the game, it’s almost impossible to keep up. let alone to stay a step ahead. but here, from the analysts at smb group, are a few trends to watch with your small-business and mid-size-business clients and stakeholders. some also apply to accounting firms. many of these trends will need more investment and evangelism from vendors for cpas and their clients to obtain maximum benefits.
— rick telberg
president / ceo
1. be prepared for the most progessive-thinking clients to sprint ahead of their peers. and watch out for the accounting firms that are doing the same.
last year we identified a distinct correlation between investments in technology and business performance. progressive companies and firms are more growth driven, invest more in technology and use technology for competitive advantage. they are also much more likely to anticipate revenue gains than peers whose tech investments are flat or declining—and the gap is widening. read more →
are you leading, or merely managing or administering?
by marc rosenberg, cpa
author of “cpa firm management and governance”
when attending conferences, we love “aha” moments. those are moments when a speaker says something so profound that it causes a sudden understanding of a major issue and captures our imagination. we can’t wait to get back to the office, share it with our partners and start implementing the idea.
more on cpa firm management and leadership: leadership is overrated: it’s good management that makes successful firms • 40 great ways to improve firm profitability • four management metrics that fool even the best-run firms • 19 ways to improve accounting firm profitability • de-bunking the myth about niche marketing for tax and accounting firms • practice development is no longer an optional activity • 10 good ways the achieve partner accountability • pick your partners right to begin with • the first nine questions your partner team needs to embrace for optimal profitability • profitability and the value of strategic thinking • the five essential building blocks for creating a strong accounting firm • the seven signs of great leadership in a cpa firm • compensation issues for the new managing partner •
i had an “aha” moment not so long ago. the speaker was bob bunting, long time managing partner of regional firm moss adams, a leader in our profession par excellence. he delivered a very simple but powerful statement that described a value system at moss adams:
my take on this is: read more →