special

the abc’s of pcas for cpas

by

overhead view of two businessmen meeting in lobbyit’s a favor. treat it like one.

by marc rosenberg
cpa firm mergers: your complete guide

a practice continuation agreement (pca) is a written contract between a sole practitioner and another firm for the latter to take over the solo’s practice, either permanently or temporarily, in the event of a sudden, unexpected event (most commonly a health issue) that prevents the solo from working.

more: where mergers go wrong | twelve tips for negotiating mergers | buying a solo | why merging in smaller firms is fabulous | 13 reasons to merge up | thinking merger? first ask why.
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

logically, it would make total sense for every one of the 30,000 sole practitioners in the u.s. to have a pca in place. after all, solos have no partners to take their place, and in the vast majority of cases, their staff doesn’t have the skill level or the certifications needed to run the practice in the absence of the owner.
read more →

accounting firms face up to private equity

by

it should be a record year for m&a.

by allan koltin
the rosenberg map survey: national study of cpa firm statistics

if the last 12 months was the “calm before the storm,” the next 12 months will be the start of the storm! i think we will see some of the big 4 entering into a “conscious uncoupling” and tax planning and consulting going “left” and assurance going “right.”

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

i also think we will see some of the big 4 firms truly coming together as one global firm. today we have global brands but the firms operate as separate partnerships and don’t operate as one firm when it comes to partner compensation or decision making. i think this will change and ultimately a majority of the top 10 firms will in fact operate as global businesses. i also think we will see a majority of the top 20 cpa firms go the way of private equity (that’s not a typo!).
read more →

the ten financial controls that’ll make you a hero

by

what clients need to know.

by ed mendlowitz
77 ways to wow!

if you want your business to grow, don’t focus on only the easy financial controls where you can see quick results – such as holding down petty cash expenditures or checking expense accounts for accuracy.

more: rule #1: start with cash | organization minutes too often overlooked | the seven-minute financial statement | the kpi an absentee manager needs
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

instead, go for the tough steps that affect long-term profits and facilitate growth.

read more →

enhance wealth by mitigating taxes

by

three people having discussion at table over document and water glassesremember this before a liquidity event.

by anthony glomski

the ideal investment plan can be hugely important to helping your clients meet their goals. the right investment strategies set your clients up very well to preserve their money.

more: your client’s instincts are wrong | when clients don’t listen | do you know your client’s total picture? | the role of the personal cfo
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but when it comes to your client’s long-term financial health and well-being, investments are only part of the picture. to ensure that every part of their financial life is firing on all cylinders and working in a smooth, coordinated manner, you need to go beyond just the world of stocks, bonds and even complex alternative investments.
read more →

yes, you have the staffing for cas

by

number 5 drawn in sandfive ways to make it easier.

by hitendra patil
client accounting services: the definitive success guide

when we asked firms what is stopping you from offering client accounting services, their top response was that they don’t have the staffing.

more: six steps to spreading cas awareness | finding profits in cas | cas is an upgrade pitch | why you can be a virtual cfo | clients’ new expectations | what cas is and isn’t
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the #1 cas killer that emerged from the cas survey results is, unfortunately, also the most misconceived perception. it is a myth.
read more →

three strategies to keep emerging leaders energized

by

business people laughing at lunch in a cafe outdoorswhat role do partners play?

by angie grissom
bridging the gap

if new leaders are to come from within, then firms must succeed in retaining their team members over the long term. this isn’t always easy but with the right tactics, current leaders can establish policies that increase engagement to reduce attrition while also building the necessary skills and attitudes for successful leadership in younger team members.

more: marketing: not just for partners anymore | how to close the generation gap | eliminate mystery through communication | leadership growth is a two-way street | how to encourage firm ownership | change when? continuously | win with an intentional culture | each generation must change
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

a recent survey conducted by the aicpa showed one of the biggest concerns accounting firms are facing today is employee retention and engagement. this is no surprise and is endemic throughout the entire profession. as the economy takes a turn for the better, the rate at which team members are leaving their current employment or seeking further opportunities is accelerating. many of the people leaving firms are the emerging leaders.
read more →

time to upgrade your spreadsheets

by

app of the week: super-powered spreadsheet database tool

by beth ziesenis
app of the week

if you love a good pivot table (and what cpa doesn’t?), celebrate the anniversary of the first copy of visicalc, the first personal computer spreadsheet software.

more: nerd365: app of the week | app of the week: celebrate black business month | app of the week: cheap flights | easy apps for increasing client engagement with video

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

spreadsheet day, october 17, gives us the opportunity to upgrade the humble cell-filled file. airtable is either a database tool disguised as a spreadsheet or a spreadsheet tool with database superpowers. either way, airtable gives you linked data tools to manage everything from personal budgets to company sales tracking.

read more →

ethics question: commissions and contingencies

by

statue of scales of justicefollow the standards.

by august j. aquila

in the old days you could go into a shoe store and purchase sneakers or gym shoes. nowadays, there are tennis shoes, running shoes, cross trainers, aerobic shoes, basketball shoes, soccer shoes and the list goes on and on.

more: make the value curve work for you | how utility and value affect pricing | the four phases of service life | marketing orientation is what firms need
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

perhaps the billable hour paradigm soon will go the way of the gym shoe. accountants need to realize that in pricing their services, one pricing method will no longer do. as with athletic shoes, accounting and consulting services can be priced in many different ways.
read more →

captive insurance: the top eight myths

by

huffman

deconstructing misconceptions about forming your own insurance company to optimize cash, mitigate taxes and build enterprise value

by ken huffman, cpa
president
captive nation

with continued economic uncertainty, companies of all sizes are looking toward captives as a way to manage high-severity risks and gain enhanced flexibility and greater control over their total cost of risk. and you don’t have to be a global behemoth to form a captive.

more in tax practice: the new tax opportunities in real estate | should the irs create a free file app of its own? | your tax season success plan starts here, now | tax prep fintech startup: april raises $30 million | new ira guide updated & expanded with 42-page supplement | thinking commercial real estate? think fast | new small firm cost seg opportunities | can the r&d tax credit be used to offset the amt? | how the r&d tax credit has expanded over the years |

goprocpa.compro members: log in here or 2022世界杯足球排名 today.

captive insurance can be one of the most effective ways for businesses to protect themselves, optimize cash, mitigate taxes and build enterprise value. however, captives often arouse suspicion among those who are not well-informed. that’s because there have been widely publicized cases of companies using captives as illegal tax shelters, among other abuses.

to separate fact from fiction, i will walk you through some of the most frequently heard objections to captives and explain why those objections are often short-sighted. read more →

five tests: how open are you to change?

by

post with two signs, "same" and "change"you can’t fix what you don’t see.

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

a long time ago, a participant in one of my classes passed a note saying, “the only people who like change are babies.” i believe everyone will agree that change is not easy until you develop a skill to embrace it.

more: 13 reasons to master consumption marketing | how to fire a client | five tips for virtual team member happiness | five skills that spell success | beyond compliance: what more you can provide  | the biggest seo secret of all: google business listings | five ways to get better clients
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here are five quick questions for your consideration: