marc rosenberg, author at 卡塔尔世界杯常规比赛时间 - page 7 of 41

merger? the 100 data points you need first

the finer points of getting to know one another.

by marc rosenberg
cpa firm mergers: new and updated

before negotiations begin, it is very helpful for merger partners to prepare a one-page, written description of their firms. this advice is for both the buyer and the seller.

more: one times fees isn’t the only way | thinking merger? first ask why. | why do you want to merge? be honest. | four reasons to fear a merger
exclusively for pro members. log in here or 2022世界杯足球排名 today.

at the risk of offending some of you, we have found that when firms initially describe themselves, the person doing the listening does a terrible job taking notes. none of our memories are as good as we think they are. because in almost all cases, each firm will soon be describing the other to their partners, it’s always best to follow up the oral description of your firm with something in writing.

what follows is:

what the written firm description should include (12 items)
get-to-know-you meeting between buyer and seller (the agenda)
sample firm description
the get-to-know-you meeting cheat sheet
key questions for the first meeting (43 items)
20 questions to ask right away
the data needed to evaluate a merger
financial and operating data to exchange (58 items)
client list (with 9 items for each)

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one times fees isn’t the only way

check the math.

by marc rosenberg
cpa firm mergers: your complete guide

partners in accounting firms are familiar with the rule of thumb that a cpa firm’s goodwill (excluding capital) is worth one times fees. however, like many rules of thumb, this notion is often incorrect.

more: thinking merger? first ask why. | why do you want to merge? be honest. | four reasons to fear a merger
exclusively for pro members. log in here or 2022世界杯足球排名 today.

when buyers begin to think about how much they will pay for a smaller firm, they often have this one-times-fees notion in the back of their minds. then, when sellers are bold enough to ask for a price in excess of one times fees, buyers often balk.
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thinking merger? first ask why.

keep your deal-breakers and must-haves to a minimum.

by marc rosenberg
cpa firm mergers: your complete guide

it’s important to understand the flow of the entire merger process. always start with the big picture before getting into the details.

more: why do you want to merge? be honest. | four reasons to fear a merger
exclusively for pro members. log in here or 2022世界杯足球排名 today.

every merger has its unique aspects. it’s impossible to choreograph from a to z exactly how the process for each merger will work.

the steps in the process listed below appear in the order of how they commonly occur.
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from senior to manager in 12 quick questions

what it takes to get promoted.

by marc rosenberg
the rosenberg practice management library

cpa firms have many different titles or positions.

more: making partner: the essential metrics | what makes a partner | want to be a partner? meet these 17 expectations | five reasons not to make someone a partner | yes, you need another partner | six big mistakes in succession planning | what a firm needs from its leaders
exclusively for pro members. log in here or 2022世界杯足球排名 today.

today, we’ll address the most common:

staff
senior
manager

i often use the term “staff” to refer to anyone who is not at the partner level. this is different from a “staff-level” associate, who typically has only a few years or less of experience in public accounting. but exactly what does it take to advance from staff to senior and from senior to manager?
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what cpa firm buyers want … and don’t

sellers, how do you compare?

by marc rosenberg
the rosenberg practice management library

many years ago, i was overjoyed that the managing partner of one of chicago’s largest local firms (long since merged out of existence) called me in for a meeting. today, i would have asked what the guy wanted to discuss before shlepping to his office. but 20 years ago, i was just happy he called me.

more: inside a partner comp committee | rewarding partners for seniority: pros and cons | what if founders don’t want to buy each other out? | when cpa partner votes go wrong | why billing less may mean earning more | what smaller firms must do to become firms of the future | when managing partners can’t | don’t let exiting partners double dip | the 13 signs you have a partner problem | covid-19, adversity and innovation
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the managing partner proceeded to tell me that his firm was looking for smaller firms to merge in. i asked him what the parameters were for his search.
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why do you want to merge? be honest.

then we can talk about how.

by marc rosenberg
cpa firm mergers: your complete guide

whether you’re looking to acquire a smaller firm, merge upward into a larger one or join forces with an equal, answering this basic question honestly and objectively is key to laying the groundwork for a successful merger.

more: four reasons to fear a merger
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the table below lists the main reasons that firms seek mergers. some of them benefit both buyer and seller. others provide the greatest advantage to one firm or the other, depending on the unique situation.
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four reasons to fear a merger

and eight ways to tell that one was successful.

by marc rosenberg
cpa firm mergers: your complete guide

as a generation of aging baby boomer partners continues its relentless march toward retirement, thousands of firms are seeking the only exit strategy available to them: merge into another firm.

more: 12 shifts to ensure firm success | eisneramper ceo explains the firm’s private equity deal | why it’s time for an acquisition | are you overthinking an m&a deal? | the 9 biggest merger pitfalls | will new taxes push you to cash out? | the managing partner’s role in mergers | inside a partner comp committee | making partner: the essential metrics | want to be a partner? meet these 17 expectations | five reasons not to make someone a partner | do you really need another partner? | six big mistakes in succession planning | new non-compete laws don’t affect cpa firms | evaluating the managing partner | what a firm needs from its leaders |

exclusively for pro members. log in here or 2022世界杯足球排名 today.

thus has a voracious appetite for mergers been created at all size levels, particularly:

sellers who are very small firms – sole practitioners (remember, 30,000 of the u.s.’s 44,000 cpa firms are solos, and a huge percentage of those are at an advanced age) and multipartner firms under $3 million
buyers with annual revenues of $3 million and larger

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inside a partner comp committee

how buyout was affected.

by marc rosenberg
the rosenberg practice management library

we worked with a 10-partner cpa firm a few years ago to change their income allocation method from an incredibly complicated formula that was deeply flawed to a compensation committee (cc). we talked to the partner group recently to get their feedback on how things worked out.

more: rewarding partners for seniority: pros and cons | what if founders don’t want to buy each other out? | when cpa partner votes go wrong | why billing less may mean earning more
exclusively for pro members. log in here or 2022世界杯足球排名 today.

why did you adopt the cc? it embraces the fundamental concept that an accounting firm’s success depends on its partners’ production and intangible attributes such as management, leadership, mentoring staff, and teamwork, among others.
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making partner: the essential metrics

from mastering business-building skills to people-building skills.

by marc rosenberg

there are many ways to measure the performance of staff on the path to making partner.

more: making partner: what managers need to know | the 17 rules for making partner at a cpa firm | who shouldn’t be a partner? | nine reasons people are promoted to partner | how to make partner?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

as is my style, i will present far more measures than most firms actually use. but i doubt you’ll perceive any of the methods here as unimportant. they are not listed in any particular order of importance.

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want to be a partner? meet these 17 expectations

plus four super basics.

by marc rosenberg
the rosenberg practice management library

we’ve all heard the names given to various generations of people over the past century. the lost generation. the greatest (wwii) generation. the silent generation. baby boomers. gen x. millennials. gen z. though i don’t know of any studies on this, i’m quite sure that every generation of cpa firm ownership has complained – bitterly – about the younger generation.

more: five reasons not to make someone a partner | yes, you need another partner | what prospective partners should ask their firm | making partner: 15 steps to the buy-in | drive your profits with only four metrics
exclusively for pro members. log in here or 2022世界杯足球排名 today.

baby boomers and gen xers love to complain that today’s staff don’t want to be partners. they cite this as a major reason why it’s so difficult to bring in new partners.
read more →

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five reasons not to make someone a partner

don’t ignore the red flags.

by marc rosenberg
the rosenberg practice management library

mostly, you’d have to be a fool not to want to be a partner. but being a partner isn’t for everybody.

more: yes, you need another partner | six big mistakes in succession planning | what new partners should know about buyouts | making partner: do the math | a crash course in the business of public accounting | making partner: what managers need to know | the 17 rules for making partner at a cpa firm
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the reasons listed below exclude issues not germane to this discussion, such as a desire to change careers, opportunities to join one’s family business or boredom with accounting. read more →

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do you really need another partner?

here are nine reasons why.

by marc rosenberg
the rosenberg practice management library

before we get too far, we must answer a basic question: why would a cpa firm ever want to make someone a partner in the first place? why would it want to share profits with more people?

more: six big mistakes in succession planning | what a firm needs from its leaders | comp: what new partners don’t know | there are two kinds of accounting firms | how to get promoted to manager | the 17 rules for making partner at a cpa firm
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the short answer is that it must be beneficial to both the firm and the new partner. a win-win, as the saying goes.
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six big mistakes in succession planning

and three reasons staffers don’t want “in.”

by marc rosenberg
the rosenberg practice management library

accounting firms worldwide are dealing with an enormously difficult challenge today – one that has topped every firm’s list of critical issues since the turn of the century and will continue to be a high priority for years to come. the vast majority of firms struggle with it. failure to solve it causes hundreds of firms to merge out of existence every year.

more: what a firm needs from its leaders | what prospective partners should ask their firm | what new partners should know about buyouts | comp: what new partners don’t know | making partner: 15 steps to the buy-in
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the “it” is, of course, succession planning, with difficulties rooted in a perfect storm of causes:
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