today's features

growth and change in the cpa workforce

卡塔尔世界杯常规比赛时间 finds tight cost controls, slow wage increases and an influx of women workers.

by rick telberg
卡塔尔世界杯常规比赛时间

lifted by a steadily recovering economy and aggressive retooling, the nation’s cpa firms are adding staff at a 2.3% annualized rate, the strongest advance in a year, according to a new 卡塔尔世界杯常规比赛时间 study. but hours are unpredictable, wage growth is stalled and firms are trading higher-paid professionals for cheaper labor.

cpa firm employment trends, via 卡塔尔世界杯常规比赛时间

the study goes on to report new data, trends and analysis regarding:

– the total cpa firm workforce
– leverage ratios
– productivity efforts
– cost controls
– wages and hours
– women in the workforce

read more →

the wrong way to account for partners’ ownership shares

and the two methods used by the smartest firms.

by marc rosenberg
author of how to bring in new partners

regardless of whether it is a corporation or a partnership, there is a substantial amount of accrual basis capital in a cpa firm. all the partners “own” some portion of that capital.

there are at least three methods for determining how much capital each individual partner “owns.” one of them should be avoided like the plague. read more →

overcoming your clients’ worst fears

how to help them take initiative and allow you to be proactive.

by hitendra patil
pransform inc.

neuroscience studies have shown that fear is a far bigger driver than we would ever care to admit. according to kevin hogan, author of the science of influence: how to get anyone to say “yes” in 8 minutes or less!, “most people react to the fear of loss and the threat of pain in a much more profound way than they do for gain. they overemphasize the importance of pain by about 2.5:1 in decision making.”

your customers and prospects fear that their actions or inactions will cause bad things to happen, or bad things can suddenly happen to them. it’s therefore important to ask yourself what sort of problems your potential clients are facing during current times. if you can identify their true fears and show them how you can remove the possibility of loss, you are one step ahead of your competitors. read more →

exclusive survey: practitioners cite 4 big strategies for success in tax season 2014

chartexporttax professionals fight political uncertainty, ragged clients, toughened rivals.

by rick telberg
卡塔尔世界杯常规比赛时间

after what for many was a disastrous season in 2013, many tax prep professionals are laying new plans and taking on ambitious initiatives to avoid a repeat of last year and maybe even vault ahead of the competition.

with input from more than 400 practitioners, 卡塔尔世界杯常规比赛时间 expects 2014 to be rocky from the start, with washington politics playing a big role, and also highly competitive, as practitioners battle both fee pressures from clients and each other for a smaller pool of good clients.

卡塔尔世界杯常规比赛时间 has prepared a special report, “busy season 2014 pre-season forecast and outlook,” available as an ebook here.

in the last 30 days, practitioners’ outlook has been generally positive as they start to get their plans in place and with a momentary lull in washington infighting. as of today, about 60% of the more than 400 practitioners surveyed expect a better season than last year, including 12% who are hoping for a “much better” season.

if there are themes among the new strategies from lessons learned last year, they fall into a few general categories: read more →

4 first steps to the right partner comp system

how to become and remain competitive in the marketplace.

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

the challenge in designing the right system for the firm’s context is ensuring it motivates the partners to deliver the initiatives the firm needs to be successful.

if compensation is supposed to motivate and reward productive behavior and outcomes, and discourage non-productive behavior and outcomes, then you must ask yourself, “how well are we doing?”

we don’t claim that our recommended system is perfect since we know that the perfect compensation system does not exist. we do feel, though, that it encompasses the critical elements needed for leaders to better engage and reward partners.

we believe that if a firm wants to maximize its performance and keep its partners motivated and engaged, then it needs to design a compensation plan, which includes the following elements: read more →

joining professional associations

ed mendlowitz cpa the practice doctor q and a

by ed mendlowitz
tax season opportunity guide

question: i do not belong to the njscpa and see no value in it. what are the benefits if i am a sole practitioner and just starting out?

response: i belong to the aicpa, njscpa and nysscpa, feel strongly about supporting
these societies and believe it is a responsibility of professionals to do so.

i am also active in these three organizations, in different ways and not always at the same time, although i have never been on the board of any of them.

read more →

it’s not just accounting anymore

ron baker
ron baker

by bruce w. marcus
professional services marketing 3.0

at a verasage conference not too long ago ron baker addressed the question of why so few top 100 firms have switched to value billing. but the answer is not difficult to discern. “there are decades of culture,” he says, “around the culture of time sheets.”

they are literally at the center of all financial reporting in the firm, and there is too much investment in time sheets and related financial systems for senior management to move in different directions. “it’s human nature to remain on the shores of the familiar,” he says. as for the future, he is optimistic, as am i. read more →

does your website have the winning formula?

follow the 5 c’s to a better website.

by sandi smith leyva

it might feel like the internet, your website, and marketing in general is just one big game of chance.  large companies gamble millions on superbowl commercials, while small companies gamble on trade shows, networking groups, and answering the next hot rfp.  the question is, is there a better way to market and get clients that doesn’t feel like gambling?

when it comes to websites, there is a surefire formula you can follow to make sure your web site brings you business, no matter what your business.  i call it my 5c formula.  let’s take a closer look: read more →

survey report: busy season 2014 outlook

click to enlarge
click to enlarge

executive summary

by rick telberg
cpa trendlines

most tax practitioners across the nation are preparing for the 2014 busy season with the hoping it can’t possibly be as bad as last year’s “worst tax season ever,” according to exclusive 卡塔尔世界杯常规比赛时间 polling.

about 61% of accountants today expect at least a “somewhat” or even “much” better season this year, according to the 卡塔尔世界杯常规比赛时间 busy season barometer, a tracking poll now approaching its 11th year. some 26% expect no change from last year, and 13% are bracing for “somewhat worse” or “much worse.”

in the 卡塔尔世界杯常规比赛时间 special report, responses and comments from more than 400 practitioners surveyed have been tabulated and analyzed. key findings:

screen shot 2013-11-26 at 4.50.30 am
pro member download
  • economic outlook for firms, clients, owners, and the nation in general.
  • practitioners’ forecasts for the upcoming season, compared with the forecasts from the same time a year ago and with 2013 actuals.
  • factors contributing to positive outlooks and factors contributing to negative outlooks.
  • top 10 challenges and concerns to prepare for and examples of how some practitioners are doing so
  • projections for key busy season metrics, including revenue, profit, client counts, extensions, revenue per client, and profit per client; compared with 2013 actuals and year-ago forecasts
  • the four key strategies shared by most practitioners with positive outlooks
  • the four important lessons learned from last year’s “worst tax season ever.”
  • verbatim comments from hundreds of practitioners.

more

read more →

how to use compensation to keep partners engaged

finding the perfect compensation system

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

a critical element in keeping partners engaged is having a compensation system that rewards them for doing the right things. every compensation plan should be constructed to help the firm enhance its ability to service clients, achieve its strategic goals and attract, reward and retain the right people. if a firm’s plan does not accomplish these objectives, it needs to be restructured. read more →