762 search results for rosenberg

what relevance means for staffing in accounting

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five young business people at work in an office setting.

seventeen ways to improve.

by marc rosenberg
cpa firm staff: managing your #1 asset

the business graveyard is littered with major organizations that missed the boat by failing to see cataclysmic game changers happening right before their eyes.

  • ice companies failed to get into refrigeration because they saw themselves in the ice business.
  • railroads missed out on autos and aerospace because they didn’t see themselves in the transportation business.
  • a ceo of digital equipment corporation said he couldn’t imagine why people would want a computer in their own house.
  • it took the wright brothers five years to get the u.s. government to even talk to them about their invention.

more: how accounting staffing has changed
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in all fairness it’s extremely difficult, if not impossible, to anticipate and accept massive changes like these.
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how accounting staffing has changed

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businesswoman sitting on table while talking with four coworkers

and two major drivers of that change.

by marc rosenberg
cpa firm staff: managing your #1 asset

“treat people as they are and they will remain as they are. treat people as they can be and should be and they will become as they can and should be.” – goethe

“you see, really and truly, apart from the things anyone can pick up, such as dressing and the proper way of speaking and so on, the difference between a lady and a flower girl is not how she behaves, but how she’s treated. i shall always be a flower girl to professor higgins, because he always treats me as a flower girl. but i know i can be a lady to you, colonel pickering, because you always treat me as a lady and always will.” – eliza doolittle in “my fair lady”

more: thirteen traits of partners you’ll want to keep | six rules for keeping partners happy and productive | why strategic thinking impacts your firm’s future | seven things good firms must do | five ways to separate accounting winners from losers | two factors determine firm profitability | don’t make firm profitability a goal | core values: why your firm needs them | five keys in compensating new managing partners | top 20 tough choices for the partner comp committee | voting on ownership basis? three better methods | what partners do and don’t deserve
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the ancient greek philosopher heraclitus said: “there is nothing permanent except change.” people fly and drive cars instead of using horses and carts. technology has replaced calculators, slide rules and the process for writing books. food is purchased at grocery stores instead of grown on farms.

drastic changes have occurred in the cpa industry as well. one of the biggest areas of change is how staff are managed and treated, as shown by this chart.
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how firms are compensating their coos

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bar chart

real-life examples. about 29% are owners.

by kristen rampe
rosenberg associates

more and more firms are exploring the benefits of adding a chief operating officer (coo) to their leadership ranks. the coo role often encompasses strategic cpa firm leadership, holding partners accountable, making decisions in line with the firm’s strategy and overseeing all administrative functions.

more: help! a partner wants to retire really early
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this position can significantly reduce the time client service partners spend attending to these duties. and often the coo can do them better, as they aren’t distracted by the next fire drill from a high-profile accounting client. their only client is the firm.
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help! a partner wants to retire really early

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six shocked coworkers

how big should the buyout be?

by marc rosenberg
the rosenberg practice management library

question from a reader: we didn’t contemplate an owner leaving before normal retirement age unless it was because of death or disability or we had to fire them. however, as we were discussing hypotheticals at a recent partner meeting, we came to the uncomfortable conclusion that, currently, there’s nothing to stop owners from accumulating large buyout balances and just walking in one day and offering up their resignation pursuant to our partner agreement, thus entitling them to receive substantial buyouts as long as they give us a one-year notice. our vesting provision has a very limited penalty for early retirement: the buyout is reduced by 2 percent a year for every year before 60 they leave.

more: thirteen traits of partners you’ll want to keep | six rules for keeping partners happy and productive | five ways to separate accounting winners from losers | core values: why your firm needs them | voting on ownership basis? three better methods | fifteen big questions for your next strategy session
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no matter what, we need to modify our agreement so that if someone wants to leave early, they can do so, but they must know there will be a stiff penalty. we don’t want our partners to see their vested buyouts as large savings accounts that can be withdrawn at any time. instead, we want them to see our buyout as a true retirement plan, one that is redeemed close to or at a normal retirement age. my current thinking is that we restrict it in a similar way to an employer-funded retirement plan. the first day you can withdraw is the day you reach 55½, subject to vesting provisions and stiff penalties for early withdrawal. we think there should be a minimum number of years as a partner in order to receive any buyout.
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