surveys & research

partners need to respect firm culture

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with insight from our exclusive expert council: dunn, pipe, grundy.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses from existing partners of accounting practices in a conversational style.

examples that really stood out on the realities of individual variances in firm culture are showcased below.

more: five thoughts about your firm’s culture | do others think you’re ready to be partner? | attract clients, don’t sell to them | think of it as service, not selling | eight questions that target personal accountability | are you projecting confidence? | does client perception match your firm’s reality? | firm not thriving? five fixes | five questions for grading prospects | health, wealth, stealth: challenges on the path to partnership
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“our partners have articulate minds, and that’s what we want to be demonstrated by any new appointees.” meaning, can they hold their own intellectually in more senior circles?

how would they then behave when meeting with other senior executives as a contemporary of theirs?
read more →

art werner: new issues in qualified plans and iras | quick tax tip

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new legislation on qualified plans and iras can help accountants grow their practices.

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quick tax tip
with art werner
cpe today

the world of qualified plans and iras has been flooded with legislative updates, and many accountants are still catching up with secure act 1.0, let alone the more recent secure act 2.0.

click here for more art werner

as 2020 introduced both the covid-19 pandemic and a slew of legislative shifts, accountants found themselves grappling with the dual challenge of pandemic-related legislation and the original secure act. many missed the chance to fully understand and implement the updates from secure 1.0, and now, with secure 2.0, the tax planning landscape has become even more complex.

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what’s going to happen? lots, say consultants

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business hand holding hot chart in crystal ball

insights on staffing, private equity and more.

by 卡塔尔世界杯常规比赛时间 research

in case you haven’t noticed, the whole world is changing. everything.

even the accounting business.

and everyone wants to know what’s going to happen.

even cpas.

more: growth and complacency must concern accounting firms this year | solving staffing requires intention | how accounting firms are handling the staff shortage | the future of fees | as private equity closes in, firms seek new answers to staffing problems | when staffing falls short, clients get culled | how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
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some of the answers (for cpas) might be found in the 2024 rosenberg national survey of cpa firm statistics, where some of the industry’s leading consultants are opining on what’s coming down the pike.

and they all agree on one thing: change is coming.
read more →

why you shouldn’t sue a client

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statue of scales of justice

there’s more to consider than you may realize.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: a former client owes me a lot of money and will not pay or even discuss a settlement. i want to sue him. what can you tell me about this?

more: what to do when a partner becomes disabled | do as little as possible | want to merge? here are 23 things to request | i’m just starting out; why join an association? | don’t blame the client for your location | realign partners with monthly meetings | i’m 76. should i slow down? how? | who to hire when it’s time to grow | hourly billing doesn’t cover the value; now what? | ask for what you’re worth | the top tip for reviewing tax returns | you have to start somewhere | two options for collecting past due fees | you can’t win with lowballing
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response: i don’t know the details so cannot address your specific situation. however, i have some comments about suing that i would like to share with you.
read more →

becca johns: how rea cpas is pushing into advisory | capstone conversations

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it’s time to challenge the cpa mindset.

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capstone conversations
with jean  caragher

rea & associates is transitioning from a traditional cpa-centric model to a broader advisory role, aiming to offer services such as it consulting and wealth management. this will require major shifts in the firm’s internal mindset and culture, including redefining roles, retraining staff, and effectively communicating the new value proposition to clients.

full show notes here | more capstone conversations here | follow jean caragher on 卡塔尔世界杯常规比赛时间 here. | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | catch jean caragher every friday with gear up for growth here |

a tall order, to be sure. but becca johns, director of practice growth, tells jean caragher in this episode of capstone conversations, “this is a good time to challenge the mindset of being a cpa firm.” read more →

how will private equity impact accounting careers?

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two women talking while seated at a table

pe may push dei for new talent.

by 卡塔尔世界杯常规比赛时间 research

private equity investment is creating a seismic shift in the accounting profession. leadership structures are getting overhauled. career paths are branching both up and out. investments are opening opportunities in services and clientele.

more: eleven questions about kids, wealth and the family business | twelve years and out: seasoned accountants join the exodus | how accounting firms are handling the staff shortage | gen ai in accounting: epic transformation, or overheated hype? | survey shows big opportunities in small business | salary guides for accountants vary widely: whom do you believe? | are you earning what you deserve? | the slow, painful death of the 150-hour rule | partner comp earnings gap: what’s the right spread?
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how will this impact the core of cpa firms?

good question. and the 2024 accounting move project has some answers.
read more →

ed warren: the difficult conversations to grow your business | accounting influencers

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prune your existing portfolio to create a revenue pipeline.

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accounting influencers
with rob brown

ed warren, a veteran sales executive in the accounting industry, shares expert insights on growing accounting firms through client advisory services and leveraging technology to stay ahead of the competition in this episode of the accounting influencers podcast with host rob brown.

warren shares his insights on how the accounting industry has been affected by the covid-19 pandemic and what the future may hold for it. he believes that while the accounting firm space is in a good place given the circumstances, there is also a bit of complacency, as they have weathered the storm reasonably well. however, staffing is a huge issue right now, and the industry will have to figure out how to adjust to players with values different from those of the legacy partner.

read more →

where intuit is at with accountants

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why vendors need to start with “why.”

ted callahan, intuit director of accountant partnership and strategy: “an industry transforming itself.”

 

by seth fineberg

unless you’ve been under a rock in the accounting profession, you know that intuit—makers of some of the most widely used tax and accounting products on the u.s. market—has caused quite a stir within the profession in recent weeks, making some wonder where they stand with the software giant.

more: history could help accountant-vendor relations | accounting needs a ‘rethink’ not a ‘rebrand’ | big change comes with deep reflection | three ways to raise the bar for your business
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

for quick review, a growing number of accountants that use of the company’s quickbooks online product have had to consider how to pass on rising costs of using the product, on top of where they stand with the company and its seemingly competing quickbooks live service. then, more recently, intuit began running national tv ads promoting its turbotax live service with the message of “break up with your accountant.”

read more →

four ingredients to your cas ‘why’

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learn what will resonate with your prospects.

by hitendra patil
client accounting services: the definitive success guide

“why did i start my accounting firm/practice?”

if you are the owner of your firm, print this in a bold, big font and post it somewhere in such a way that you can see it, even if it is just in your peripheral vision, every moment when you are working at your desk.

more client accounting services articles
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if you are a partner of the firm or an employee, print the following question to post it where you can see it all the time:

“why did i get into the accounting profession?”
read more →

mitch reno: client experience advantage goes to small firms | gear up for growth

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“we have to…build something so special that people don’t want an alternative.”

gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间

for cpa firms to stand out, they must deliver an exceptional client experience—so unique that clients won’t want an alternative, mitch reno, director of client experience at rehmann, tells jean caragher in this episode of gear up for growth.
gear up for growth spotlights the best strategies for smart and effficient growth in today’s competitive landscape. more gear up for growth every friday here.|  more capstone conversations with jean caragher every monday | more jean caragher here | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | more 卡塔尔世界杯常规比赛时间 videos and podcasts here
“what any managing partner listening or any marketing leader or growth leader within an organization needs to be hearing is let’s look at what we do well,” says reno. “let’s look at where there’s an opportunity for us to do something better. and let’s do that better and differently than the rest of our peers that we compete against.” 

read more →

training? cpe? they’re not the same

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three people: woman between two men pointing at desktop computer screen in explanation

the three types of training needed and 21 best practices for providing it.

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

“training is everything. the peach was once a bitter almond; cauliflower is nothing but cabbage with an education.” – mark twain

more: six tips for setting compensation | staff crave advancement and challenge | what leadership looks and feels at cpa firms | eleven things that good mentors do | give the recognition your staff needs | the importance of great bosses | how remote work is impacting accounting firms | make work flexibility work for everyone | why staff leave cpa firms … and how to stop them | how to solve the big disconnect in talent management | what relevance means for staffing in accounting | how accounting staffing has changed
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

we cringe when cpas use “training” and “cpe” synonymously.

  • cpe coursework is often reactive, taken to maintain a cpa license. it may or may not educate. it may or may not be the type of education an individual needs. many cpas look upon cpe as a nuisance that is necessary to comply with professional regulations. the smaller the firm and the older the cpa, the more likely this is the case.
  • training is primarily proactive, undertaken voluntarily to expand a person’s knowledge, performance and capabilities. the training aligns with what the person needs to do the job and provide value to the firm and its clients.

ideally, the training identified as needed also qualifies as cpe.
read more →

bissett bullet: why is the second meeting so important?

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today’s bissett bullet: “never leave the first meeting without having the second one already scheduled.”

by martin bissett

i have talked extensively about securing the date of your second meeting with a potential client while still in the first meeting with them. failure to do so generally results in day-to-day life taking over and you slip down their list of priorities. a second meeting also guarantees you the opportunity to talk them through your proposal so always fend off requests to send it by email. there is also a third benefit.

knowing when you will be delivering your proposal, coupled with your judgment as to their level of interest in working with you, means that you are able to forecast when you may win their business and when you can expect your fees as a result. the ability to forecast allows you to plan for capacity and allows you to price in order to protect profitability.

today’s to-do:

set yourself a challenge. aim to leave your next three first meetings with a date in the diary for the second.

see more bissett bullets here

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