why some firms thrive, and others don’t [video]
cch president and ceo mike sabbatis calls on the profession to brace for the challenges ahead by adopting “future-ready” processes today.
outlook & analysis
new cch study: cpa firms lag broadly in technology, efficiency
most tax and accounting firms are falling behind in their operating practices and processes, according to a new survey.
and, astoundingly, they know it and admit that it may take them years to catch up.
cch rolls out free tax news phone app
iphone and ipad users can click here; androids here.
via cch
cch is launching a free tax news highlights app for iphones, ipads and android devices
the app was spearheaded by cch’s newly formed agile publishing solutions team, a rapid development prototype team.
for now, the cch tax news highlights app focuses solely on the most up-to-date federal and state tax news headlines – available at the touch of a screen icon. the app has the ability to grow into a much larger information content source designed for professionals, educators and students for all relevant tax and accounting news.
five lessons from the war for clients
hint: the secret weapon is communications skills.
by bruce bailey
guild accountants
while the victor in war is he who wins the last battle, every battle and every outcome is significant (even the battles you lose – we often learn more from our losses than our wins!).
about three years ago we looked at our war for clients by assessing: the nature of our troops, their skills and training, the battlefields on which we would operate and the armaments we would carry.
accounting sector adds 2,000 new jobs
even as cpa firms shrink by 1,100.
the nation’s accounting and bookkeeping sector accounted for 2,000 of the 80,000 new jobs created in october, according to new preliminary and seasonally-adjusted data from the u.s. labor department.
for the nation, the jobs gain pushed the unemployment rate down to 9.0% from 9.1%.
for the accounting and bookkeeping sector, october’s performance represents a third straight month of gains and a year-to-year gain of 60,800 jobs, bringing the industry’s payroll to 932,200 employees.
how cpa firms make money in turbulent times
rosenberg survey uncovers the power of leverage.
by gary l. adamson
adamson advisory
the universal measure of profitability in accounting firms is average income per partner. another universal tool is the annual rosenberg national map survey. it’s a must-have for running your firm.
in the latest survey, rosenberg identifies his “elite” firms, which are the 54 that had income per partner of more than $500,000. not bad considering it is based on 2009 economic data—from the middle of the recession.
it’s interesting, if you dig into the data in the survey, you will find that these 54 aren’t just the biggest firms, although as rosenberg puts it, bigger is better in terms of profitability. in fact, 24 of them are in the $2-$10 million fee range and three are sole proprietors.
6 steps to improving accountability in your firm
start with planning and coaching.
by steve erickson
steve erickson llc
improving partner and staff accountability is essential in these economic times.
review notes and backward looking evaluations might well have some influence on future performance but do not have any impact on what has already taken place. there is a better way to get to get your partners and staff to take ownership and agree to be accountable.
here’s how you can immediately improve accountability and performance in your firm: read more →
6 ways youtube can jumpstart your marketing
it doesn’t need to be complicated or expensive.
by becky livingston
social media is everywhere, much like the web site craze back in the mid 90s. so, what is a cpa to do about it? you don’t have time to monitor all the various social media sites available today. you aren’t tech savvy to know which ones are the easiest or best to work with. and, you may not have the marketing expertise to know which platform will keep your services current in the eyes of your clients.
bookkeeping billing rates region-by-region
how does your state rate?
for the nationwide year-to-year trends, see the earlier 卡塔尔世界杯常规比赛时间 report, “bookkeeping rates show broad advances.”
new data from intuit’s biennial bookkeeping rates survey is showing huge disparities from region to region and city to suburb.
the highest rates, for instance, can be found for “general business consulting” in the east coast and atlantic states, at $138 per hour. read more →
politics trumps common sense at fasb
faf rejects independent private-company rule-making panel: just “politics and turf?”
by john sharbaugh
texas society of cpas
a couple weeks ago, the financial accounting foundation issued a proposal to create a new private company standards improvement council responsible for determining whether exceptions to gaap should be allowed for private companies in appropriate situations. any recommendations from this new pcsic would have to be ratified by fasb before they would become effective.
is ‘expertise’ blocking innovation at your firm?
and five areas where innovation will produce significant results
by l. gary boomer
accounting firms generally are not who you think of when you mention “innovation,” yet many firms excel at innovation and there is a pattern to their success.
5 strategies and 13 tactics for client retention
step 1: start showing how much you care.
by krista remer and jennifer wilson
convergencecoaching
so, what does it really take to retain clients?
here are a few ideas that could help you focus on what really matters most to your clients:
top tech habits of high-performing firms
high performing firms continue, year after year, to experience measurable increases in productivity, by a margin of 6-to-1 over low-performing firms