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how to reinvent the firm for the covid age

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look for clients who are open to new relationships.

by art kuesel
for the rosenberg map survey

the pandemic has been a time for all of us to re-think why and how we do what we do.

more: why it’s time for an acquisition | three ways the accounting profession has changed | ramping up for the year ahead
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it’s time to start fresh. i’d start with a handful of clients who would be open to what a new relationship could look like and start the conversation with different questions, which will allow us to find different answers and ultimately reposition our role as an advisor for success. read more →

five reasons not to make someone a partner

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businessman with hand extended in "no" gesturedon’t ignore the red flags.

by marc rosenberg
the rosenberg practice management library

mostly, you’d have to be a fool not to want to be a partner. but being a partner isn’t for everybody.

more: yes, you need another partner | six big mistakes in succession planning | what new partners should know about buyouts | making partner: do the math | a crash course in the business of public accounting | making partner: what managers need to know | the 17 rules for making partner at a cpa firm
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the reasons listed below exclude issues not germane to this discussion, such as a desire to change careers, opportunities to join one’s family business or boredom with accounting. read more →

the smart way to handle financial products

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accounting firms either do or don’t. but here’s how to do it right.unbalanced brass scales

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

accounting firms adopt one of two business models when it comes to offering financial products for fees or commissions.

either they do or they do not.

more: three types of family offices for the wealthy | virtual workshops guide clients through covid | high-net-worth business development in four steps | 16 questions to set your practice goals | conviction + process + expertise = your next $5 million
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a fancier way of saying this is that an accounting firm has adopted a product-neutral or product-inclusive financial product business model.

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get your team ready for tax season

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happy multi-ethnic business team with thumbs up in the officethree steps to a happier grind.

by ed mendlowitz
tax season opportunity guide

if you have staff, have happy cheerful helpful people. don’t surround yourself with downers and naysayers.

more: 12 ways to squeeze fun into tax season | 6 ways to get paid faster in tax season
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

also have team players. part of this is your firm’s culture. it takes work to get people to work together and to focus on doing what it takes to service the client fully, properly and timely.  everyone working together gets it done.
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when to start building your cas tech stack

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it doesn’t have to be that hard.

by hitendra patil
client accounting services: the definitive success guide

your firm’s current processes and procedures are adapted to your current technology stack, or vice versa.

more: stop derailing cas | show your priciest cas package first | how cas drives virtual cfo billings | the roi on identifying clients for cas | what clients need now, more than ever | how to launch cas in eight steps
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

trying to fit client accounting services into your existing technology stack may become a challenge for you – not just from a procedural point of view but also from a profitability point of view.

if your current technology stack is still mostly desktop software, it could be nearly impossible for you to offer cas as profitably as potentially possible with non-desktop solutions.

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how to build a standout team

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why everyone has to get on board.

by anthony zecca

“coming together is a beginning. keeping together is progress. working together is success.” – henry ford, inventor, founder and ceo of the ford motor company

more: five keys to becoming a high-performing firm | assessing your firm | incremental vs. exceptional success | is your leadership team at the edge? | leadership must drive culture
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

let’s follow mary as she works through the first principle – creating a firmwide, standout team.
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success secrets in specialties

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make sure your choice is interesting and portable.

by ed mendlowitz
call me before you do anything: the art of accounting

i was not a specialist. in some respects, i am the last of the “expert generalists” and generalists are fast becoming extinct.

more: making sure the son got proper credit | yes, shirt logos can matter | preparing for the worst (thanks to my wife) | why cpas should stay in public accounting | readers rip: ‘she wanted her shoebox back’ | ceos don’t always know numbers
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in this age of specialization and niche expertise, being a generalist is a negative to most people, indicating a lack of competency in their area. i tend to think of the old general practitioner physicians versus the modern-day specialists. no one looks at the whole patient.
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do you really need another partner?

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number 9 created by gaps between many small green plastic 9'shere are nine reasons why.

by marc rosenberg
the rosenberg practice management library

before we get too far, we must answer a basic question: why would a cpa firm ever want to make someone a partner in the first place? why would it want to share profits with more people?

more: six big mistakes in succession planning | what a firm needs from its leaders | comp: what new partners don’t know | there are two kinds of accounting firms | how to get promoted to manager | the 17 rules for making partner at a cpa firm
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the short answer is that it must be beneficial to both the firm and the new partner. a win-win, as the saying goes.
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12 ways to squeeze fun into tax season

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four young happy office employeeswhy not?

by ed mendlowitz
tax season opportunity guide

tax season presents exciting opportunities for accounting firms and their staffs. every moment should be enjoyed and appreciated.

more: 6 ways to get paid faster in tax season

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

following are 12 reasons:

1. tax season is profitable and accounting is a business where we try to maximize our earnings. sure, there is a great concentration of work in a short period with occasional pressure, but if handled properly, the work can be managed sensibly with tensions at reasonable levels. i also believe much of the pressure is self-induced by poor scheduling, inadequate quality control and the lack of uniform systems that are followed by everyone in the firm, particularly the partners.

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three types of family offices for the wealthy

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family of three using smartphones on couchalso: three drivers of exceptionalism.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

when it comes to their financial and personal lives, the wealthy are increasingly attracted to the family office model. at the very high end, there is a strong preference to create a single-family office. for the wealthy for whom the costs of a single-family office are unreasonable or do not want the management or oversight responsibilities, there are multi-family offices and virtual family offices.

more: virtual workshops guide clients through covid | thought leadership is more precious than ever | there are 4 types of professionals | 6 steps to maximize referrals | a high-net-worth practice in four steps
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with the family office model, you are providing a broad array of expertise holistically. consequently, you can deliver substantial value to the wealthy. many accounting firms provide family office services. while family office is in the name of these practices, a large percentage of them are offering a limited menu of single-family office capabilities. the services tend to comprise business management expertise and other accounting and tax-related capabilities.
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accounting will never be the same

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jim boomer

next up: creating capacity.

by jim boomer, boomer consulting
for the rosenberg map survey

while we don’t know for sure what the profession will look like post-pandemic, i’m confident it won’t look the same as it did prior.

more: ramping up for the year ahead
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

some of the primary areas that i think will be different going forward:
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why founders balk at their buyouts

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blocking dominos from falling.solutions for when succession planning didn’t happen as it should have.

by marc rosenberg and kristen rampe

over the years, we have worked with a number of small firms that had the following dilemma: what to do when the partners are all in their 60s and none wishes to buy out the other?

more: when cpa partner votes go wrong | why billing less may mean earning more | don’t let exiting partners double dip | how covid impacts partner retirements |  covid-19: how your firm can respond
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this problem is particularly acute with two-partner firms, though can be troublesome for other firms with multiple partners wanting to retire on a similar timeframe.

we have distilled this dilemma into a case study to guide firms to a solution. this case is based on real facts.
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