special

do you know your turnaround time?

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cutting it is the shortest route to happier clients.

by frank stitely
the relentless cpa

todd rundgren sang, “i don’t want to work. i just wanna bang on the drum all day.”

i agree with half of that. i don’t want to work. however, i want someone else to bang on the drum all day for me. i’m not that ambitious.

the key to achieving hall of fame-level laziness is delegation.

more: tax season client meetings: kill them now | leadership growth is a two-way street | 12 subjective factors for pricing your next engagement | the six pillars for finance transformation | three strategies to keep emerging leaders engaged
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if i have no ambition to do anything, but want things to get done, someone else must do them. similarly, effective practice management is putting the right people in the right places accomplishing the right tasks at the right times. that’s a pretty damn good definition of effective laziness as well. there’s a subtle genius in that.

for example, our firm was looking at acquiring a really nice firm, where the two partners were working 100-hour weeks during tax season. as a result of the acquisition, they wanted to work fewer hours. they were preparing the vast majority of tax returns themselves, so we suggested having them act as reviewers instead. that would also transfer knowledge of the clients from them to us – a central objective of any successful acquisition.
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amazon making chips, will rent out

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computer chiphigh-performance computing will be available to more workloads.

by rick richardson

new chips are being released by amazon.com inc.’s cloud computing division to power the most advanced computing, supporting tasks such as gene sequencing and weather forecasting.

more: gadget simplifies multiple screen use on the go | the cheapest clean energy might be lunar | u.s. combat medics look to a.i. goggles | your cd and dvd backups are rotting away
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the largest provider of cloud computing, amazon web services (aws), announced recently that it will allow users to rent processing capacity that uses a new generation of its graviton chips. the product is a platform for expanding access to high-performance computing, according to peter desantis, senior vice president and manager of most of aws’ technical teams.
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client hires new manager: you need a plan

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what they don’t know can hurt you.

by ed mendlowitz
77 ways to wow!

clients hire managers all the time. but getting started as a manager requires many skills, one of which is to review financial data and use it to control your department, division, or company.

more: do you need a forensic professional? | forensic techniques can be fraud deterrence | the hazards of poor internal controls | rule #1: start with cash | the priorities were backward | how to read a financial statement | 77 thoughts about client needs
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here is a way to get started.

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three questions for clients who want to manage their own wealth

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businessman sitting on stacks of paper currencymaybe they can. but should they?

by anthony glomski
your $5 million high-net-worth practice

i have told you that your business owner clients will face new challenges, new transitions and new opportunities as they navigate their way through a liquidity event and emerge on the other side. i also have emphasized that you must do everything in your power to help them preserve, protect and maintain the wealth that they have worked so hard to build.

more: how to build your team of experts | five experts your wealth management team needs | maximize your client’s charitable giving | estate plans: can you ask clients these eight questions? | do you know your client’s total picture? | 2022世界杯32强赛程表时间
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nassim taleb, author of the bestselling book “the black swan: the impact of the highly improbable,” argues that we can not only learn to navigate these frightening and overwhelming events, but learn to become stronger as a result of them and to take advantage of the opportunities they provide.
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cpa billing rates rise at 6.5% pace

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the mark tops six months of steady growth.

line chart
overall pricing at cpa firms, year over year

by beth bellor
卡塔尔世界杯常规比赛时间 research

pricing at cpa firms has been growing for the past six months, according to a new 卡塔尔世界杯常规比赛时间 study, and the numbers are worth noting. august was the first year-over-year hike of over 5 percent, at 5.1 percent. from there, it hopped to 5.5 percent in september, 6.3 percent in october and 6.5 percent in november.

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

financial auditing at cpa firms was slightly behind, with annual differences of 4.9 percent in september, 5.5 percent in october and 5.9 percent in november.
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craft an engagement letter for cas success

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man's hands on computer keyboardinclude provision for a 90-day reset.

by hitendra patil
client accounting services: the definitive success guide

“people think of us (accountants) as the compliance agents – the necessary evil.”

this sentence haunts me even today, after hearing it nearly 15 years ago from a multi-award-winning, highly experienced cpa.

perception!

more: how to choose your cas processes | how weekly cas reports help businesses | cas: much more than bookkeeping | matching your tech to your cas clients | six steps to spreading cas awareness | how to tell who fits cas | the big money in cas for small firms
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has the accounting profession’s brand been (predominantly) perceived as “compliance” only?

“we deal with the past. we do audits. and we deal with the present. we do taxes and books. future – is not our business.”
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five ways to put success into succession planning

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a robust mentoring program can be critical.

three climbers helping each other up a hill

by bill penczak

legendary general electric ceo jack welch is reported to have lamented the choice he’d made in his successor, choosing someone based on their personality and ability to navigate the politics of the position instead of someone who could successfully lead the company into a brighter future. welch was correct. today, ge is a shell of its former self because of its leadership choice.

more: o.d. lanier: stepping into advisory | secret to success? a growth and abundance mindset | future firm growth requires a mindshift |the great resignation: five reasons accountants are quitting | five global cpa leaders: four survival strategies | planning for success in 2021 | do you have the guts to beat the covid crisis?
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welch’s one gaping failure as an otherwise stellar executive started me thinking about the current state of baby boomer-led and owned cpa firms, and how many of them are likely to commit the succession errors of ge. or worse, do nothing at all in terms of creating and sustaining a cpa firm into its next iteration.

as firms are giddy with the prospect of a new year and with covid in our rear-view mirrors, here are five considerations for generational succession of a middle market firm:

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how to build a winning proposal

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business meeting of a woman and two menautobiography? no. economic benefits? yes, please.

by steven e. sacks
the new fundamentals

do you ever wonder why after spending many hours on drafting, editing, proofing and polishing – and proofing and polishing just once more – your engagement proposal efforts did not result in winning the engagement? and if this happens on a semi-regular basis, the frustration is never easier to take.

more: the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
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you may have the requisite knowledge and experience and perhaps even a broad view based on a diverse set of clients. however, you may have become complacent by maintaining a “cookie-cutter” approach to developing your proposals. like the old joke defining a consultant: “a person who takes off your watch, tells you the time and gives the watch back to you,” implies an approach that you believe is best for your potential client, yet reflects no understanding of what the client actually needs.
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don’t let prospects fall through the cracks

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man viewing desktop computer screenlead generation is a waste of money without other pieces locked down.

by sandi leyva
the complete guide to marketing for tax & accounting firms

if getting new clients is a bit of a struggle for your business and you’re not reaching the revenue levels you desire because of too few clients, then the first step is to find out where the process is breaking down.

more: five kinds of small thinking | three questions for the new year | 13 reasons to master consumption marketing | when to talk about fees | take a moment for appreciation | beyond compliance: what more you can provide  | boost your cross-selling in two easy steps
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there are five main places:

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tell potential partners what it takes

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businesswoman walking up stairsdon’t forget to add what they could make.

by marc rosenberg
how to bring in new partners

accounting firms worldwide are dealing with an enormously difficult challenge today – one that has topped every firm’s list of critical issues since the turn of the century and will continue to be a high priority for years to come. the vast majority of firms struggle with it. failure to solve it causes hundreds of firms to merge out of existence every year.

more: what prospective partners should ask their firm | what new partners should know about buyouts | comp: what new partners don’t know
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the “it” is, of course, succession planning, with difficulties rooted in a perfect storm of causes: read more →

recycle and repurpose old devices

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if santa is bringing you new tech gear, give a second life to the ones being replaced. //www.g005e.com/2022/12/06/choose-your-little-black-dress-of-technology/

by beth ziesenis
app of the week

many people get new smartphones and gadgets during the december gifting season, so i’m not sure why someone thought we should celebrate national device appreciation day on december 17.

however, it is an excellent time to take stock of the devices in your desk drawer (or the ones you’re thinking of replacing).

more apps of the week:  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.

you can repurpose older devices for your own use or donate them to any number of charities to help others.

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outlook 2023: private equity pumps up paychecks

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private equity is affecting even non-pe deals.

by terry putney
the rosenberg map survey: national study of cpa firm statistics

the profession as a whole has a significant problem attracting college graduates. the 150-hour requirement coupled with non-competitive compensation compared to finance degrees, as an example, is causing enrollment in accounting programs to drop and graduates to choose alternative careers.

more: outlook 2023: tech automation takes hold | irs hires will add pressures | look who’s making money now | capacity strategies drive change | top five trends | compensation gets creative | the office is over | accounting firms face up to private equity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

until the profession addresses these issues, firms are going to find it hard to recruit enough talent. we predict the use of alternative sources of talent, such as offshore, will continue to grow in response to this challenge.
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routine is key to reviewing tax returns

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young man riding hour hand of clockgot info they need? don’t delay.

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

reviewing returns is a technical process. however, there are times that the mechanical functioning of tax season interferes with or alters the reviewer routine and momentum.

more: why you can’t skip checklists | tax review procedures are your quality control | seven types of tax return reviews | how to turn tax returns into new business
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most returns are reviewed on a fifo basis as they are transferred to the reviewer. however, in many firms returns are pushed to the head of the line for many reasons – some legitimate, such as the client is going on a vacation, and some because the partner wants to get a return out to the client.
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