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the top 11 financial statement ratios

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businesswoman using calculator while reviewing something on laptop screenand why the quick ratio isn’t valid.

by ed mendlowitz
77 ways to wow!

ratios are tools used to evaluate a company’s financial statements.

more: insurance you might not know you need | price not always the top consideration in a sale | when an owner dies without a buy-sell agreement | due diligence is in the details | manage better with the right financial tools | do you need a forensic professional?
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here are some of the more commonly used ratios.

1. working capital ratio

current assets ÷ current liabilities
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get sticky with cas

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businessman looking at question mark sketch on the wallthe clients are more loyal and buy more services.

by hitendra patil
client accounting services: the definitive success guide

client accounting services (cas) is the new revenue segment you cannot afford to miss.

if you are an accounting firm owner/partner, you do not want to miss the emerging, growing, and profitable opportunities in client accounting services.

more: the why behind your cas why | who is the professional?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

before we get to why, to ensure that we are on the same page, let us agree on a description of what cas is.
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five ways to keep your edge as a leader

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man writing in notebookspecific steps, including three ways to make life easier.

by august j. aquila
what makes a great partnership

have you ever wondered why in good times or in bad it seems that managing partners of professional services firms fail? what happens to them? do they get stuck in a routine? do they fail to see the next issue coming down the road? do they stop thinking about what is critical for success? or, do they spend too much time with clients, with dysfunctional partners or with all the other noisy, but unimportant things that can pull them from their purpose?

more: five reasons that leaders fail | what managing partners must be doing | do your partners pay their own way? | how to create firm accountability | five questions to ask your partners about accountability
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sometimes leaders get overwhelmed. they forget that non-stop action is a lot different from delivering results. in short, they lose the alignment between what’s important to them and what’s important to the firm.
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the business side of cpa firms

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four ways to increase revenue. four reasons that employees should care.

by marc rosenberg
how to bring in new partners

future cpa firm leaders must have an understanding of how their firm operates as a business, including how it makes money and what holds back profitability. with this knowledge, team members will make better decisions about how they spend their time and perform their work.

more: public accounting as a business, 101 | nuts and bolts of mentoring staff | nine ways to measure staff performance on the path to partner | sixteen duties of a partner | five people to keep out of partnership
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all businesses have economic structures unique to their industries:

  • grocery stores are high volume, low profit margin.
  • real estate ventures use accelerated depreciation and other tax angles to generate cash flow and healthy rois.
  • professional sports teams focus on increasing the value of the franchise so it can eventually be sold for a gigantic profit.

the typical cpa firm is a low-volume, high-priced business, with a relatively high profit margin (generally 30-45 percent of revenue).
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nine methods to reduce tax review time

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scale with coins on one side, alarm clock on the otherit’s not too late to start.

by ed mendlowitz
how to review tax returns: the field-tested update

to have a successful tax season, care and effort must be spent to reduce the review time while maintaining quality.

more: the last thing a tax reviewer does | judge reviewers by how tax preparers improve | ‘quick and dirty’ tax review | three ways to improve tax returns | don’t use eyes, use brain | three types of tax return reviews | tax review procedures are your quality control
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the reviewer’s time is the main element that needs to be managed and reduced.
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where is your next money coming from?

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financial graph on blackboardfive questions to help forecast your firm growth.

by martin bissett
passport to partnership

if i could give you one tip that would assure that you could predict your consistent practice growth, it would be to look at your calendar.

more: forged in fire: the pains of leadership | perception is reality, client version | 10 questions for reconsidering your prices | would you make yourself a partner? | a list is not a pipeline | prepare the next generation now | are you committed to your firm? | nine points to check before hello | why clients struggle with growth
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you need to look at what is on your calendar and to look at today’s date and ask, “where is the money coming from this month?” look at what recurring fees you have, look at the value of those fees and what they bring in. then consider what would happen if any of those fees did not recur. look at what would happen if those fees dropped out of the equation and think about how you would replace that income.
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heather smith: try not growing your business

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heather smith: we are the oxygen for the businesses around us.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间

heather smith has loved accounting since she was 14 and loves the flexibility the profession offers. since the mid-2000s she has been one of the original cloud accounting nomads, with an accounting business that she says fits in a lovely italian handbag.

more: randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

in 2022, the anise consulting founder based in brisbane, australia, demonstrated that nomadic lifestyle by attending all three live xerocon events: london, new orleans and sydney. heather is a tireless advocate for her small business clients and a fan of technology to improve our lives, including staffing. read more →

insurance you might not know you need

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young man under rain-covered umbrellathese are often overlooked.

by ed mendlowitz
77 ways to wow!

the following are brief descriptions of insurance coverage not usually obtained or obtained in inadequate amounts. insufficient insurance can expose you to serious losses and could also jeopardize your future financial comfort and security.

more: price not always the top consideration in a sale | eight ways to value a family-owned business | are you ready for a co-owner to drop dead? | simple controls can prevent fraud | charity directors must take theft seriously | forensic techniques can be fraud deterrence | the hazards of poor internal controls | rule #1: start with cash
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

note that i am not covering all types of insurance and this guide’s purpose is to alert you to the importance of the right insurance protection. some of this coverage can be as riders to existing policies.
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why vc is a bigger threat than ai

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how big money could change everything.

by seth fineberg
at large

here is some truth, at least that i believe, accountants need to know: accountants in practice today, particularly firm owners, should be more afraid of venture capital entering the profession than ai or any like form of automation. a bold statement, i know but stay with me and see if you agree.

more seth fineberg: what does taking control of your firm mean? | accountants need each other more than ever | marchternity: just say ‘no’ |

some thoughts on in-person events | so you think you know accountants? | what bogs down accountants

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at the core of this viewpoint is how i believe the two will, respectively, impact the profession at large. the major difference, to me, is that one has the potential to help the profession move forward while the other could change its dynamic for the worse.

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the why behind your cas why

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four empty metal bucketsfour ingredients to consider.

by hitendra patil
client accounting services: the definitive success guide

“why did i start my accounting firm/practice?”

if you are the owner of your firm, print this in a bold, big font and post it somewhere in such a way that you can see it, even if it is just in your peripheral vision, every moment when you are working at your desk.

more: who is the professional?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you are a partner of the firm or an employee, print the following question to post it where you can see it all the time:

“why did i get into the accounting profession?”
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trust but verify… everything

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fight back against fake reviews.

by beth ziesenis
app of the week

magicians practice the art of illusion and national smoke and mirrors day (march 29) celebrates their skills.

but in today’s world, technology can also deceive us very easily.

more apps of the week:  make your computer a clean slate | recycle and repurpose old devices | enlist ai for more productive meetings | keep teams on task with project management apps | apps to put your affairs in order | app of the week: celebrate black business month | app of the week: cheap flights | help your clients save money | time to upgrade your spreadsheets | app of the week: secretly stash cash | easy apps for increasing client engagement with video | app of the week: grow your business knowledge and career skill sets | app of the week: upgrade your resume | app of the week: end procrastination | 
see all: apps of the week here |
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

fight back against fake reviews on shopping sites like amazon, ebay, best buy and other shopping sites with fakespot.

how does it work?

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five reasons that leaders fail

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do you have these habits of highly ineffective ceos?

by august j. aquila
what makes a great partnership

several years ago there was an interesting article in fortune magazine. it dealt with the topic of why ceos fail. for example, “chainsaw al” dunlap was let go by sunbeam after two years of dismal performance and questionable conduct.

more: what managing partners must be doing | managing partner: the toughest job in the world | eleven things partners must do | do your partners pay their own way? | why partners need written goals | seven keys to becoming an equity partner | how to create firm accountability | eight criteria for partnership | how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

what do cpa firm managing partners have to learn from corporate america?
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