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2014 roundtable: re-recruiting top talent without regard to ‘parity’

what to do when your best rainmakers are at the front of the retirement line.

by sam allred
upstream academy

analysis

leaders of firms are optimistic as they begin to see the firm dials move in positive directions.

in most markets, there are positive signs that the recession is beginning to lift: clients making more money, clients asking for more projects/services and a pipeline fuller than this time last year.

on the people side, the exodus has once again started. most firms have reported they have lost key partner-track people to industry jobs in the past six months. bd is a top-drawer issue with all firms.

the stark realization that the firm’s best rainmakers are at the front of the retirement line has caused firms to get very serious about developing future rainmakers. more and more firms are taking a team approach to landing significant new clients and engagements. many firms are getting better with the partner goal process and they are excited about the results that come from doing it right. read more →

busy season management

tax return reviews: the key to a smooth tax season

top leadership must set the tone for solid review work.

by ed mendlowitz
how to review tax returns

tax season is a microcosm of everything done in an accounting practice. one of the primary concerns of a business is having the proper processes and quality control procedures. many firms, however, do not have uniform tax return review procedures, and even when they do, they are not always adhered to. choosing how to properly use the reviewers’ time and interface them with the staff can contribute immensely to a smooth tax season. read more →

managing partners reveal 11 strategies for getting their firms to the top

survey of 150 chief executives also shows 10 ways they stay there.

by robert j. lees and
august j. aquila
creating the effective partnership

this article builds on two extensive bodies of research. the first, to which we refer briefly, is on what differentiates those managing partners who make a substantive difference to their firm’s performance from their peers. to add to our anecdotal understanding of this difference together with our years of desk research, we asked 150 practicing and managing partners from the u.s. and europe what they believed truly successful managing partners did to make a real difference. the result of this study is an in-depth understanding of the leadership attitudes and behaviors of successful managing partners. read more →

2014 roundtable: no shortcuts to sustainable growth

firms come to understand success must be organized and leader-driven.

by gale crosley
crosley co.

analysis

firms are realizing that growth is a more sophisticated game, and we are never going back to the “hang out your shingle” days. succession issues are playing a major part in motivating firms to take a hard look at how they are going to grapple with sustainable growth.

when the business world was somewhat predictable, growth could be counted on. but there are too many complexities today to count on the past as a predictor of the future. globalization, social media, innovation, regulation, competition — these are just some of the dynamics at play. the way business was generated by our seasoned partners will be quite different from our future leaders. this awareness is becoming more acute as sluggish economic conditions continue. read more →

marketing & sales

get real: 15 questions for achievable growth

by bruce w. marcus
professional services marketing 3.0

in building a growth plan for your firm, perspective is important.

objectives, clearly defined as they should be, should not be overwhelming. nor should they be adhered to slavishly. it’s often enough to know what you want to do, why you want to do it and how you plan to get it done. read more →

five thinking patterns that will keep you playing small

what makes you flinch?

by sandi smith leyva
accountant’s accelerator

if you feel you should be doing better than you are in business, you may have a belief pattern that is unconsciously holding you back. the first step is to bring it to the surface. only then can it be addressed, released and replaced with a belief that will lead you to increased success.

here are five of the most common thinking patterns or beliefs that will keep your accounting business from growing. read more →

2014 roundtable: talent shortage makes overhiring worth the risks

as one generation ages out, a new one reshapes the future of the profession.

by stephen weinstein

analysis

we’re experiencing a hiring shortfall — the supply of people to hire has dried up quickly. the reprieve in the recruiting market from 2008 to 2013 is over! read more →

busy season management

tax return review: the overlooked factor in tax season success or failure

great reviewers aren’t born. they’re made.

by ed mendlowitz
how to review tax returns

reviewing tax returns is a key part of tax preparation. it also is an area vulnerable to major bottlenecks and backlogs. inevitably, firms have more preparers than reviewers. the latter are highly skilled professionals who are more difficult to train or find. therefore, you must consider ways to reduce review time, even at the expense of adding preparer time.

the best tax season managers know how to: read more →

what vote should new partners get?

by marc rosenberg
author of how to bring in new partners

most firms vote on a one-person, one-vote basis despite varying ownership percentages. there’s good reason why. read more →

2014 roundtable: firms that ‘get’ women stand to win the talent wars

on new leaders, staffing, ex-partners, and four new predictions.

by rita keller
ritakeller.com

analysis

women — the area of retaining and promoting females in public accounting continues to be a big challenge for many firms.

i like to compare it to life, in general. men always have been and continue to be puzzled by women. in the business world, there have been many great books written to help women better fit into the game of business. the much talked about book “lean in” by sheryl sandberg (coo of facebook) is an example. the biggest challenge in public accounting is getting women and men to read such books. read more →

49 money-making ideas with outsourced cfo services

by ed mendlowitz
“tax season opportunity guide“

question: i have clients that are growing and seem to need more services in house than they can afford and they are leaning on me to set in and provide them. i gather this is an additional engagement and want to know how i can go about it.

response: it seems that the client is crossing the line into a more sophisticated area, but is not able to afford a full-time cfo.

2014 roundtable: re-thinking the staffing model

as one generation ages out, a new one reshapes the future of the profession.