survey: how old is your desktop pc?
less than 3 years puts you in the 2% tier.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
special
it’s time to herd your highly compensated cats
six questions to ask yourself about partner accountability.
by bill penczak
the managing partner was trying to contain his frustration, but it was evident, even on a zoom call. we had been reviewing the status of a focused market blitz, in which each of the partners was to come up with only three targets on which they would focus development efforts. when we reviewed the aggregated list, one-third of the partners had not responded to the request.
more: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | don’t buy a rolodex, buy a process | the three r’s for beating the corona crisis | 6 reasons why your marketing sucks
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he was pissed, and i felt bad for him. neither the carrot nor the stick approach had worked. and he was facing another example of lack of partner accountability, which i’m finding is one of the most common frustrations of firm management, regardless of size or specialty.
no firm runs perfectly, and partners, for the most part, have the right intention of supporting firm initiatives and improvements. but they get enveloped in client deliverables, dealing with unplanned people issues, and trying to keep up with billing, collections and wip management.
why accountants quit
hint: leadership can avoid these issues.
by ed mendlowitz
call me before you do anything: the art of accounting
i have written about cpas who leave public accounting and go to work in private industry. based upon the comments and emails i’ve received, this is an involved topic and i would like to delve into it further.
more: why cpas should stay in public accounting | when cpas leave to work for a client | when parents, children hit an impasse | how bickering can ruin a family business | one hour a year since 1972
i was writing about my observations, particularly of many people in their mid-50s i have known who cannot get jobs in private industry after spending a major part of their careers there. obviously, there are many people with extremely successful careers in private industry and i was not addressing them, but i do consider them to be in the minority. also, we are all individuals, and we each decide on how we want to work and what we are comfortable with. no one, including me, has any right to criticize them or tell them they should have done it differently.
read more →
what clients need now, more than ever
providing client accounting services gives them your best.
by hitendra patil
client accounting services: the definitive success guide
an accountant in practice in germany sent me this message after purchasing “the definitive success guide to client accounting services:”
“i only began reading your book today in the morning before work. when i browsed through the content, i already was blown away. being 60.5 years old, i try to stay fit body- and mind-wise. sometimes i doubt, a little bit, whether i should carry on. but when i read your soul-touching intro, i felt the fresh energy flowing. thank you so much for showing the shining of true potential!”
more: 15 services that cas clients need | a job description for client accounting services | why cas is great for revenue growth
yes, i felt a sense of fulfillment. but the bigger reason their message is more important for me is that professional accountants’ experience and expertise are so much more vital and necessary than ever before.
read more →
four ways to beat the staffing shortage, with pasha malik
kill the billable hour, embrace remote work, stay flexible, get social, says pasha malik of thyor.
^ click to play
> get the podcast version and follow 卡塔尔世界杯常规比赛时间 here
with richard rothstein
more on the staffing crisis: the digital toolset for hiring at a small accounting firm | learning how to hire amid covid | how covid rewrites the rules for recruiting | steven braunstein: new covid strategies for staff recruiting and retention | irs has recruiting problems, too | 12 signs it’s time to outsource | how aging boomers impact the accounting profession | why remote workers need retreats | 44 key attributes for assessing staffers | coaching the right way | 20 best practices for staff training and retention | the art and science of hiring: three essentials for the covid age | uncover potential in 10 interview questions | why your firm needs to attract more millenials | why small firms can win the talent wars | the one big reason your hiring sucks | five ways to improve operating margin during covid | getting and keeping the best people | be a talent magnet | who’ll quit next? | why you must constantly push work down |
twitter and linkedin are the go-to resources for finding new talent at the mclean, va.-based thyor group of companies, founder and ceo pasha malik tells richard rothstein for 卡塔尔世界杯常规比赛时间.
rootworks acquires cpa practice advisor
with a goal to expand education-based ecosystem dedicated to accounting firm improvement.
by 卡塔尔世界杯常规比赛时间
via businesswire
rootworks, a part of right networks since mid-2020, has acquired cpa practice advisor from endeavor business media llc.
see right networks’s joel hughes and rootworks’ darren root discuss their merger last year at right networks acquires rootworks
the move allows rootworks to expand its educational ecosystem by leveraging cpa practice advisor’s content across a broad spectrum of digital channels. terms were not disclosed. read more →
how to embrace the blended future of work
convergence coaching research suggests eight steps to take.
by 卡塔尔世界杯常规比赛时间 research
the covid-19 pandemic has been many things for many people.
for the wise, it’s been an education.
more: the future is blended: combining remote and office work
or, to put it another way, the mother of invention.
cpa firms have been quick to invent. what the wise have realized is that the inventions aren’t temporary measures destined to disappear when no longer needed. many are here to stay, and the accounting industry will be better off with them.
read more →
ira tax memo: why you really need a protective trust
extract from forthcoming update to practitioner’s guide to ira distribution rules
by seymour goldberg, cpa, mba, jd
the practitioner’s guide to the ira distribution rules under the secure act
editor’s note: as sy goldberg prepares an update to his “practitioner’s guide to the ira distribution rules under the secure act,” he’s uncovering some important nuggets, such as this extract to be found in a section called advantages of trusts as ira beneficiary. this extract, and much more, will be included in the forthcoming update, which is free to purchasers of the current edition.
the use of a protective trust as an ira beneficiary with special provisions when clients have insufficient probate assets and significant ira assets and the estate tax liability is significant.
this means that there may not be a source for payment of estate taxes that are attributable to the ira assets if the beneficiary or beneficiaries of the ira assets do not voluntarily cooperate in reimbursing the personal representative of the estate for the estate taxes attributable to the ira accounts.
profit sharing for a staffer?
the owner wants to offer a percentage to a staff person, but how?
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i have a small practice and have a staff person with me for eight years (who had nine years of experience before coming to me), and i want to offer him some profit-sharing percentage.
more: the secret recipe for staff retention | writing a reference? here’s how | 44 key attributes for assessing staffers | make cpe worth your while | what to do with a lousy client? | but i am managing! | how to run a practice in 90 pages
how do i approach it?
read more →
the 15 absolutely necessary services for cas clients
how many do you already offer?
by hitendra patil
the definitive success guide to client accounting services
client accounting services generally constitutes three key service segments:
- after-the-fact financial statement preparation, i.e., “write-up”
- business transaction processing
- outsourced cfo and controller services
more: a job description for client accounting services | how to launch cas in eight steps | romeo, juliet, google and client accounting services | why cas is great for revenue growth | survey: why some firms fall behind in cas | how cas makes firms better | cas: finding the why behind the why | how to lead clients into client accounting services | cas begins with a mindset
tax planning/tax strategy services may also become part of your cas offering if you have interest/expertise in that segment.
read more →
the five big rules for powerpoint presentations
keep the focus where it belongs: on you.
by steven e. sacks
the new fundamentals
have you ever attended a conference where the presenter plans to supplement his or her key topics by showing an illustration of what is being currently said?
do i look at the speaker or do i look at the slides? will the slides be available later or should i take notes now? should i move up 50 rows so the microscopic wording improves to barely readable? can i ask the speaker to back up a couple of slides?
more: how aging boomers impact the accounting profession | accounting is a profession, not an industry
whenever i give presentations i try to put myself in the shoes of the listeners and create a presentation in a way that relies on them briefly glancing at the slide transition and then redirecting their full attention back on me. but what we see today is too many speakers just reading what appears on the slides. they should simply begin their session by saying, “i’ll read out loud and you’ll follow along silently.” thank goodness there was never a request made for responsive reading.
read more →
13 traits of the best managing partners
that smile, that teamwork? genuine.
by marc rosenberg
the role of the managing partner
i have worked with over a thousand cpa firms during my 20-plus years of consulting. i’ve worked closely with hundreds of them. the 80/20 pareto principle certainly applies here: 20 percent shine brightly and are worthy of adulation. (managing partners, please, please, don’t call me to ask if you are in the 20 percent or the 80 percent group. i’ll plead the fifth!)
more: top issues for millennial managing partners | 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 | make sure partners focus on two things
today, i’ll share with you the traits of those managing partners who, in my opinion, were the best.
read more →
survey: your favorite desktop pc
accountants name their favorite pc brands.
by randy johnston and brian tankersley
the accounting firm operations and technology survey