today's features
advisory & consulting

client explains how financial statement helps him

two businessmen talking at office

also: audits vs. reviews vs. compilations.

by ed mendlowitz
77 ways to wow!

one of my clients generously gave me his take on the benefits he received from the audited financial statements we issued for him. i was appreciative of this and want to share his views with you.

more by ed mendlowitz
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he began with an introduction explaining how he started his business and shepherded its growth by concentrating on developing his services and delivering them quickly and on time to his clients. the business grew rapidly, and little time was spent on the recordkeeping except for getting invoices to the clients or making payroll, while keeping the back office as lean as he could. at the same time there were legal, regulatory, hr, occupancy and tax issues from operating in multiple states and countries and he was spending quite a lot of time and fees on these activities, because he had to, while pushing aside and neglecting the accounting work.
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marketing & sales

how to break clients into tiers

woman looking at computer screen, man looking over her shoulder

including examples of criteria.

by august aquila
max: maximize productivity, profitability and client retention

client tiering is a strategy used by cpa firms to categorize their clients based on various factors such as revenue, complexity of services, profitability and more. this approach helps the firm allocate resources effectively, provide tailored services and prioritize high-value clients.

more by august j. aquila
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a tiering system for a smaller firm can be very simple with emphasis on billable hours, dollars and billing rate realized. for larger firms it can become more complex, and the firm may create more tiers.
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podcast

yoss: lock pdfs like a pro | quick tech talk

a password shorter than 15 characters makes your encryption practically meaningless.

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quick tech talk
with steve yoss
cpe today

most professionals know that pdf files are one of the most reliable ways to share contracts, reports, and sensitive documents. but here’s a question: are your pdfs truly secure—or just locked with a flimsy password that a hacker could break in minutes?

more steve yoss here | more tech

did you know you can set not one but two passwords on a pdf? one encrypts the document, preventing unauthorized access, while another restricts editing or modification. together, these measures give you control over who can read and who can alter your files.

modern versions of adobe acrobat use 256-bit aes encryption—a powerful safeguard. but here’s the catch: the encryption is only as strong as the password you choose. a short, simple password is like putting a state-of-the-art lock on your front door but leaving the key under the mat.

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mergers & acquisitions

six questions for assessing a merger

two men shaking hands as woman stands with one

and three reasons that firms hesitate.

by marc rosenberg
cpa firm mergers: your complete guide

as a generation of aging baby boomer partners marches towards retirement, thousands of firms are seeking the only exit strategy available to them – merge into another firm. thus has a voracious appetite for mergers been created at all size levels, particularly:

  • sellers who are sole practitioners and multipartner firms under $2 million
  • buyers with annual revenues of $3 million and larger

more by marc rosenberg
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do mergers work?

ask a partner from a smaller firm that merged upward whether the match has proven successful, and the likelihood is you’ll get a less than enthusiastic response. why isn’t this partner jumping for joy? is it because the merger didn’t work? usually not.
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marketing & sales

three steps show what your pipeline is worth

man writing in notebook

take the time to assign value.

by martin bissett
business development on a budget

i’ve taken many accounting firm partners through this process, and it’s quite common for them to balk a little at the pipeline idea when they see the amount of work involved.

more by martin bissett
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they see it as just another call on their time when they already have far too much to do, and they ask me why they can’t just write down a list of prospects and go to work on them.

is that what you’ve been thinking? well, here’s why that doesn’t work.
read more →