flash briefing: a “call to arms” after private equity deal
eisneramper move augurs a new path forward for firms seeking capital for growth.
with dom esposito and anthony zecca
special
dom esposito, ex-grant thornton ceo, dead at age 74
a long and distinguished career at the pinnacles of the cpa profession.
by 卡塔尔世界杯常规比赛时间
domenick j. esposito, the former ceo of grant thornton, vice-chair of bdo, and national growth director at cohnreznick, died sept. 22 at the age of 74, at his home in westport, conn.
the family said he passed peacefully in his sleep. survivors include wife dorothy savino esposito, daughter karen, and a granddaughter. funeral arrangements, details and tributes can be found here.
from comments: “a good friend and colleague who will be missed by many..” “the kindest man i ever met…” “made me a better accountant…” “always a gentleman…” “great competitor and friend…” “truly one of the most brilliant in the profession…” “a great visionary and leader…”
“dom was a pillar of the cpa profession he so loved, and his work lives on in the thousands of lives he touched in a long and distinguished career,” said rick telberg, ceo of 卡塔尔世界杯常规比赛时间, which published his “8 steps to great: the eight essential strategies driving success at the world’s largest cpa firms. and how to apply the lessons at firms of all sizes.” see his articles for 卡塔尔世界杯常规比赛时间 here.
10 more reasons cpas quit public accounting
bosses are part of the problem.
by ed mendlowitz
call me before you do anything: the art of accounting
as i have written about cpas who leave public accounting, there has been widespread interest. there is a lot more to say so i’ll address many of those questions.
more: family trees of clients | preparing for the worst (thanks to my wife) | the 10 best movie accountants | why accountants quit | why cpas should stay in public accounting | when cpas leave to work for a client | when siblings battle over the family business | readers rip: ‘she wanted her shoebox back’
exclusively for pro members. log in here or 2022世界杯足球排名 today.
general comment
generally speaking, many bosses do not listen to staff concerns. at many firms, there is a lack of serious mentoring and little help for staff people in managing their careers. in many practices, there is an appearance of a lack of growth, or if there is growth, then staff people are often left behind. in most instances, these problems are exacerbated by staff people not being clear about what they want. they are hesitant to speak up, share their concerns with their bosses or venture beyond their comfort zone. both are culpable, but i place greater blame on the bosses, who should know better.
read more →
grading your managing partner
bonus: the 21-point managing partner evaluation form.
by marc rosenberg
the role of the managing partner
“a rabbi whose community does not disagree with him is really not a rabbi, and a rabbi who fears his community is not really a man.” – rabbi israel salanter, museum of the diaspora, tel aviv
more: why firms conduct performance evaluations of partners | the 14 trends crushing today’s accountants | 44 hard-earned tips from new managing partners | how to enforce the partner agreement | the 9 biggest merger pitfalls | 10 ways to hold partners accountable
everyone needs feedback. unfortunately, many people in all walks of life, in both personal and business settings, avoid feedback because they don’t want to deal with the reality of the messages.
read more →
how cas drives virtual cfo billings
helping clients connect the dots.
by hitendra patil
the definitive success guide to client accounting services
tom, a cpa, has always been a curious person. for over 15 years, his tax practice was doing well. during the tax season, he had no time to think. but, oblivious to himself, with each tax return, he was depositing new questions in his subconscious.
more: the roi on identifying clients for cas | financial statements are like masks | the 15 absolutely necessary services for cas clients | romeo, juliet, google and client accounting services | how cas makes firms better
he is now a shared cfo of 12 companies. but he took up the cfo work accidentally.
how?
read more →
make today “day one” of your new business
how to get out of a rut.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: my practice seems to be in a rut.
more: why does all work take so long? | don’t like checklists? find a new job. | the secret recipe for staff retention | help! key staffer refuses to supervise people | get more done by saying no | don’t fire that staffer! | employee demands a raise she doesn’t deserve
we are not growing, our services haven’t changed and our client turnover is almost nonexistent. any suggestions of what we can do?
read more →
four ways to leverage your referral network
how to get the best clients.
by anthony glomski and russ alan prince
your $5-million high-net-worth practice
most professionals, including accountants, get most of their client referrals from satisfied clients. the complication is that if you want to work with wealthier clients, the likely best way to source them is from other professionals they are currently engaging.
more: high-net-worth business development in four steps | 16 questions to set your practice goals | conviction + process + expertise = your next $5 million
if you aim to work with the ultrawealthy and even the super-rich, be aware that as you move up the wealth hierarchy, they are less and less inclined to refer you to other people. it is something of a catch-22. in general, the better you are, the more the very wealthy are disinclined to share. that is, they are less likely to refer you to their financial peers. also, if you are maximizing your wealthy client relationships, there is hesitancy by these clients to make referrals because of a strong preference for extreme confidentiality (if not secrecy).
read more →
lower your costs by 75% with cas
… and benefit your clients at the same time.
by hitendra patil
the definitive success guide to client accounting services
in the desktop days, write-up, bookkeeping and accounting processes were perceived more as data entry work. the price clients were willing to pay for data entry put so much pressure on fees that many firms found it was not worth the hassle.
more: your top six cas questions | cas drives up demand for virtual cfos | turn client wants into needs | a job description for client accounting services | why cas is great for revenue growth | cas: finding the why behind the why
other services such as tax preparation, financial statements preparation, etc. brought in higher per-hour dollars than write-up, bookkeeping and accounting work could. such work got more and more “outsourced” by accounting firms to bookkeeping firms, freelancer bookkeepers and “processing” firms operated by non-cpas/non-accountants.
read more →
survey: zoom tops teams for now
… but teams made huge gains over just one year.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
your top six cas questions
strangely, the important ones are being asked the least.
by hitendra patil
client accounting services: the definitive success guide
as a professional accountant, if you are looking to stay more relevant to your clients’ evolving needs, what are the top questions about client accounting services (cas) you must find answers to?
more: cas drives up demand for virtual cfos | the roi on identifying clients for cas | what clients need now, more than ever | how to launch cas in eight steps | survey: why some firms fall behind in cas | how to lead clients into client accounting services
to find the answer to this all-important question, the best way was to ask the accountants themselves. surprisingly, accountants are not asking the questions that are more important for cas success.
read more →
checklist: partner-ready metrics
three questions on competence, four on branding plus a five-point checklist
by martin bissett
passport to partnership
analysis: how outside capital can remake cpa firms
new next-gen private-equity structure holds the promise of new funding for expansion.
by dom esposito and anthony zecca
midsized to large cpa firms may be considering a private equity transaction as a growth and wealth creation vehicle, but there is much to be considered beforehand.
more on private equity for cpa firms:
exclusive: ceo charly weinstein explains the private equity deal
analysis by esposito and zecca: private equity the new source of growth capital for cpa firms?
eisneramper gets private equity backing
esposito is author of “8 steps to great: driving success at the world’s largest cpa firms and how to apply the lessons at firms of all sizes.” more by dom esposito here.
zecca is the author of “leading from the edge – the new growth handbook with bonus toolkit.” more by anthony zecca here.
here’s what cpa partners engaging in a private equity arrangement can expect.
what prospective partners should ask their firm
also: what the firm should ask prospective partners.
by marc rosenberg
the rosenberg practice management library
this article should be read from the perspective of two different audiences: prospective partners and existing partner groups.
more: what new partners should know about buyouts | 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
- prospective partners. well before accepting a partnership offer, prospective partners should ask basic, critically important questions to help them judge whether accepting it would be a smart decision.
- existing partner group. well before extending a partnership offer, the firm should get its house in order to avoid being embarrassed by smart questions posed by partner candidates.