special

four tips for new partners

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young businesswoman using a tabletthey also work for new solo practitioners.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: a few months ago i became a partner in my firm but i don’t seem to know what to do as a “partner.”

more: before you sell your practice | price your practice by gross | advising estate executors: the newbie guide to getting started | how’s your overhead?
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nothing seems to have changed except my title and compensation arrangement, which hasn’t even started yet. do you have any suggestions of what i should do?
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which of your existing clients are cas-fit?

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a businessman with some jigsaw puzzle pieces in his handthere is a massive return on your one-time investment in identifying such people.

by hitendra patil
the definitive success guide to client accounting services

the experience of those offering successful client accounting services shows that the fastest way to start your cas practice is to provide it to some of your existing clients. if you already have a cas practice, it is important to periodically analyze which of your clients have now become a cas fit. it is important to note that not all of your clients will be cas-fit.

more: don’t wear a mask | the services that cas clients want | six reasons cas is king | how to develop the cas mindset
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there are some easy ways to identify which of your existing clients are cas-fit, i.e., which of your clients will benefit the most from your cas offering. and then there are some not-so-easy ways to know which are your cas-fit clients.
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is your firm’s culture a magnet or a repellent?

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magnet drawing in three peoplethe partners want the money; the younger professionals want the meaning.

by steven e. sacks
the new fundamentals

in the famous words of management guru peter drucker, “culture eats strategy for breakfast.” accounting firms are starting to get this message because now they are instituting initiatives that would have been laughed at years ago: a) every day is jeans day, b) shorts when there is no client meeting, c) work from home and d) reduced saturday hours during busy season. and on it goes …

more: organizational trust: top-down and bottom-up | staff orientation: a little investment goes a long way | managing information overload | 6 types of non-listeners | political correctness or just common courtesy? | syncing up for the covid era
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attracting and retaining quality staff has become one of the top concerns for cpa firms that want to grow and remain competitive. salary is no longer the number one concern for today’s younger professionals. opportunity, responsibility, accountability and a well-defined career path are the motivators. firms are pulling out all the stops to attract professionals who will be viewed as tomorrow’s leaders.
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failure paves the road to wisdom

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man with head down on laptop keyboardwhy that’s ok.

by bill reeb

besides guilt, overachievers seem to have a real problem with the idea of failure, which is why it comes up in so many different forms throughout my book.

more: why we have to deal with guilt | is your sense of duty misplaced? | are you sure you’re in the wrong place? | how are you programming your mind? | how to stay in the present | stop ignoring opportunities right in front of you | work ‘better,’ not ‘harder’ | what a pro knows | don’t let opportunities become detours | what are you giving priority? | don’t let others block your path
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

how does this attitude toward failure manifest itself? well, in business, as with life, we are taught by society that to be considered a worthy and successful human being, we must “grab for the brass ring” or buy into the idea that “winning is everything.” and clichés like “anything other than first doesn’t count” are used to motivate people into obtaining “the right perspective.” this has created some self-destructive and dysfunctional attitudes toward winning.
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don’t wear a mask

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how to show clients your true value.

by hitendra patil
client accounting services

so, the cdc has indicated that a mask also protects the person who wears it. previously, it was advised that masks stop people from spreading the coronavirus to others.

more: the services that cas clients want | the services that cas clients need | the 8-step method for launching client accounting services | six reasons cas is king | who’s afraid of client accounting services? | what cas is … and is not | how to develop the cas mindset | the right mindset for client accounting services | client accounting services: the definitive guide
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but this post is not about coronavirus and masks. when it comes to accounting and the advisory insights hidden in the financial statements and numbers, covering those with a mask is not good for either the clients or the accountants.
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avoiding projects hung up in process

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businessman with fingers crossed behind backhow to climb out of “done but” hell.

by frank stitely
the relentless cpa

a project hung up in process is one when there is a disagreement as to the status between people involved in a project. for example, a client thinks he has answered your tax return questions, while you believe he has not. another example is when a tax return preparer believes a return is ready for review while the reviewer does not believe it’s ready.

more: when clients create errors | how to reduce tax return errors | why your firm needs to attract more millenials | the fool in the room | the 3 biggest tech failures of accounting firms | wip-ing clients into shape | maximize your role as visionary
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the result of a hung-up project is a dead project – one that’s not moving to completion. if a tax return gets hung up, eventually your client calls you, and you get to waste time determining why the project stopped moving. by now, you know this increases wip and thus decreases turnaround time.
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when did our reaction to “no” change?

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businessman with hand extended in "no" gestureit’s a cue to ask more questions.

by ty hendrickson

when did our reaction to “no” change?

my son recently took up driving and honestly, it terrifies me. when he asks to use the car, he hears the word “no” a lot and it is typically the beginning of a long debate about why he needs the car. you may remember responding the same way when you heard the word “no” at that age and thinking of a change in strategy until you figured out a way to get a “yes.”

more: 5 ways to rethink the way you communicate | 3 steps to getting the most out of every meeting | why choose you? | the one big reason your hiring sucks | are you botching your first impression?
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something happens to us between childhood and our first job. as an adult, when we hear the word “no,” we cringe. we shy away and quickly give up to avoid confrontation.
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organizational trust: top-down and bottom-up

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businesspeople chatting around a water coolerare employees angry? take time to listen.

by steven e. sacks
the new fundamentals

there should be trust among individuals, trust among teams and finally, trust within an organization. the first two have their particular challenges, but when you consider establishing trust across an entire organization, you have to address issues that have been wider impact such as how to communicate pending layoffs, changes in employee benefit packages, or the sale or merger of the firm or organization.

more: staff orientation: a little investment goes a long way | building teamwork under covid pressure | make your writing count | etiquette never goes out of style | make news, not noise | take that extra breath with email | effective communications in the age of covid | the new covid-19 workplace: are you prepared? | does your firm’s board know its role? | are executive performance reviews dangerous? | there is no leadership without integrity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

a firm or company must explain the how as well as the what and the why when informing employees. change can be shocking, it can be demoralizing and it can raise stress to unhealthy levels. it can also increase feelings of hurt and betrayal. we are in a state of flux because of the covid-19 pandemic, which has only added to the tough challenges of globalization, technology and competition. these and other change agents have long been a source of angst well before the pandemic appeared on our radar screens.
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are you running your practice by default?

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sad businessman sitting at desk outdoors and looking straight aheadhere’s how to start turning it around.

by matt solomon

if you’re like most accountants i’ve worked with, it’s probably not in your nature to rock the boat. you much prefer the tortoise’s “slow and steady” motto to the energetic but erratic pace of the hare. you’re methodical and thorough, and those qualities make you an excellent accountant.

more: invest in the right guidance | tap into your gold mine | shift your practice: stop depending on compliance work
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but any strength can become a weakness – and for accountants, those same qualities that help them execute compliance work can also be dangerous. i’ve seen too many accountants whose firm is far from what they envisioned when they first set out to create their own company and the main culprit is simple, you’re running a business with a “worker bee” mentality.
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the 4 buckets of firm knowledge

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four empty metal bucketspower bi is gaining on excel for dashboards.

by roman h. kepczyk
quantum of paperless: technology guide & checklist

firm knowledge and information is usually stored in one of four “buckets.” the most obvious is within the accounting applications themselves where tax, audit and accounting programs store client files in a format that can only be accessed with that program. files are usually indexed and accessed in designated directories so there is not much the firm can do about moving these files.

more: why digital communications matter | the case for wireless broadband access | maximize your office 365 roi | how the cloud impacts server replacement | capturing documents at the source
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the second bucket for more advanced firms is a document management application where final documents can be archived in alignment with a comprehensive document retention plan and easily searched. the 2019 cpafma survey pointed to 30 percent of firms utilizing their document management application for intranet purposes.
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the family office model

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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: guiding clients through covid | help your referral sources become thought leaders | what the wealthy want | the essential process for building a high-net-worth practice | 4 components of a high-net-worth practice
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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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covid brings more and better client communication

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ppp and cares: big opportunities to be trusted advisors.

by carrie steffen

the year 2019 seems like a lifetime ago and yet, as i reflect on the year it was, it strikes me that some of the trends we saw clients embrace positioned some firms to pivot more quickly in 2020 than others.

i saw an increased investment in people development – particularly the soft skills that become differentiators. areas like relationship development, communication, curiosity, and generosity took their rightful place among the areas in which firms invested in developing their people.
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staff orientation: a little investment goes a long way

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businesswoman shaking hands with someone out of viewwhat do you wish you had known your first week?

by steven e. sacks
the new fundamentals

staff retention and onboarding in cpa firms are ongoing problems. a critical component of retention is staff orientation.

more: building teamwork under covid pressure | how can change management really produce change? | trust: one building block of success | make your presentations memorable | have a real-life conversation | is your message open to interpretation? | why proper communication is critical
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because of the accounting profession’s regulatory nature, firms have provided cpe in accounting, auditing and tax updates. why? because adherence to rules and standards is mandatory. but what about other areas to ensure that the firm’s professionals are given the tools and knowledge to perform at their optimal level?
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