51% plan new hiring now and into next year. for 2015, 81 percent percent of small businesses forecast a revenue increase, with 21 percent expecting to grow more than 100 percent, according to a new xero survey. the study also shows that … continued
becoming a ‘trusted advisor.’
by sandi smith leyva
the accountant’s accelerator
here’s a question: what portion of your revenues are derived from compliance work – e.g., tax preparation and irs representation; bookkeeping; quickbooks setup, cleanup and training; payroll; and audit work – versus value-added work, e.g., revenue improvement, business consulting, profit margin analysis and workflow improvement projects?
if you answered 100 percent compliance work and no value-added services, you’re not alone. there’s a lot of lip service about moving from compliance services to becoming a “trusted advisor.” there’s an equal amount of confusion in how to get started.
here are a few tips to help those of you who want to move in that direction. read more →
11 weekly self-assessment questions for successful professionals.
by august aquila
the effective partnership
when’s the last time you talked to your partners about the “mirror questions”? we all know that it’s easy to kid ourselves about how well we’re doing. but when we have to look ourselves in the mirror, well, it’s another story.
rather than giving the partners the questions they should answer, we suggested that they come up with their own self-assessment. specifically, we wanted them to devise questions they could ask themselves each week to evaluate how well they had performed. in the end, we came up with 11. read more →
ask the “right” questions. ask tough questions.
by marc rosenberg
cpa firm mergers
you likely waited a long time to find the right merger partner. be patient and do things right. fourteen things, to be exact: read more →
what it means for independent tax and accounting firms.
by hitendra patil
pransform inc.
the accounting profession in the u.s. has been shaken up by announcements from liberty tax services and h&r block that they are entering into core bookkeeping and accounting services business.
more on the entrepreneur accountant: six steps for a better tax season • 8 seconds into the future: meet generation z • 5 reasons gen y will make or break your firm • 3 ways amazon’s new fire phone hints at the future of accounting • the 8 traits creating the firm of the future today • get more done, make more money: stop doing these 17 things • what shopping habits reveal about accounting clients • create your “not-to-do’s” list • irs bitcoin rule: 5 things accountants need to know • tax season tips: train your brain to focus • what the bitcoin phenomenon means for accountants • overcoming your clients’ worst fears • 5 tech tips for reigniting growth • a case study in using linkedin • accountants and six fundamental human needs • client satisfaction starts with ‘likeability’ • why accounting? your clients want to know • what’s next: predictive accounting
the news came as a surprise to many and i had a few discussions with some accounting professionals, especially smaller firms and some solo practitioners, on what they think of this new development. read more →
look at the revenue stream. goodwill is another story.
by marc rosenberg
retirements & buyouts
to illustrate a cpa firm’s value, let’s use an example of a plain-vanilla or average firm:
now, let’s compute the value.
how to walk in with head start.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: how do you make a presentation to get a new client when you do not know everything you should about the client’s business?
response: no one can know everything about everything. smaller firms have a harder time but they can reach out to others in their firm, or even partners in similar firms who have the knowledge to assist in the proposal, or friends in larger firms.
here are six simple steps to learn as much as you can about a prospect and their industry. read more →
plus: effective budgeting and management.
by michael ramos
michael ramos and associates
cpa firms want to establish metrics for their learning function as a way to monitor and manage their learning activities. ideally, firms would do their learning strategies and goals first and then use these strategies to drive the related metrics.
but we do not live in an ideal world, and some firms choose to establish metrics while simultaneously working on firmwide learning structures and goals.
more: high-impact learning: 4 ways to maximize cpe roi
recognizing the risks inherent in prematurely defining metrics, here are three tips for creating meaningful learning metrics at your firm that will help manage the learning function and drive performance. read more →
smbs say cloud accounting is the last thing they want.
accountants are encountering extraordinary difficulties in getting their small- and mid-size business clients to adopt cloud computing, according to new research findings made available first to 卡塔尔世界杯常规比赛时间.
accounting is the last operation small business wants to update. everything else comes first, according to software advice, austin, texas-based accounting technology reviews company.
key findings:
what brain science tells us about how to work better together.
by sandi smith leyva
the accountant’s accelerator
we need to acknowledge that in the tax and accounting workplace, women do not understand men, and men do not understand women. it happens in dating, so it should not be a surprise when it happens at work.
this isn’t a new topic. but what we’re doing now is not working, or it’s working at a glacial pace. we actually lost ground during the recession years and are now going backwards. the statistics are even worse in small firms, where 80 percent of the talent pool are women but only 12 percent are partners.
luckily, we now know dozens of reasons why and have hundreds of tools and skill builders to help.
here are just a few revelations from emerging brain science: read more →
it’s time for the men running cpa firms to “man up” and get serious about promoting women into leadership roles.
by ida o. abbott
sponsoring women: what men need to know
smart accounting firm leaders want to be in the forefront of efforts to advance women. as the global economy continues to become more competitive, firms need to use all the talent they can muster — and more and more of that talent will be women.
today cpatrendlines launches the exclusive new series, “sponsoring women: what men need to know.” author ida o. abbott delivers the tools cpa firms need to develop a new generation of women in leadership. training, encouragement, and even mentoring are all helpful. but abbott argues it takes person-to-person sponsorship to finally break through. particularly, she says, it takes a man. the role of women in the cpa profession is a critical issue. abbott’s is an eminently practical strategy. and it’s about time that men “manned up” about promoting women cpas. – the editors
companies that successfully tap into the full potential of women will be far ahead of their competitors. the key to doing it is to identify women who are likely to succeed and sponsor them so they reach the top levels of leadership. this requires direct personal involvement by leaders, particularly leaders who are men.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i have a small firm and i’m overwhelmed with all the new technology things i’m hearing about. how can i keep up to date?
response: i personally am astounded at what is out there. it is way beyond me.
related survey results: how accountants keep up with tech trends
here are 10 ways you can stay ahead of the curve: read more →
developing successful strategies for changing expectations.
by marc rosenberg
cpa firm retirements & buyouts
the concept of retirement for cpas is rather amusing.
younger partners (say, under 40) insist with unshakable confidence that the oldest they will ever work is 50 or 55. they have other things to do with their lives (own another business, do charity work, pursue hobbies, etc.) besides working at a cpa firm and they want to pursue these interests while still young.
older partners (say, over 55) see themselves working indefinitely, with 65 being the earliest age that they will even consider retiring. read more →