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rachel bashore: a lawyer’s case for reinventing accounting | accounting arc

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discover how nontraditional professionals leverage their skills to bring innovation and growth to the accounting profession. 

accounting arc
with donny shimamoto.
center for accounting transformation

the accounting profession is experiencing a wave of disruption, and nontraditional professionals are leading the charge. 

more accounting arc: leadership for the future: stakeholders, sustainability, and strategic vision | in-person conferences still essential | non-accountants in accounting: a game-changer for the profession | rubik yeriazarian: smaller firms offer big opportunities for rapid skill development in forensic accounting | accounting arc | ai will steal your job. and that’s a good thing | accounting arc | the right kind of lazy: innovative approaches to streamlining workflows | accounting arc

in a recent episode of accounting arc, host donny shimamoto, cpa.citp, cgma, sits down with rachel bashore, the director of operations at herbein, to discuss her journey from attorney to accounting professional and the valuable perspective she brings to her firm. 

“accounting is ripe for change, and that’s what excites me,” bashore says, reflecting on how her varied career—from it consulting to trial law—helped prepare her for the challenges of modern accounting. bashore has a unique path into the industry. after years working with ibm, she transitioned into law, specializing in litigation before moving into banking and fintech. 
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do you have the client accounting services mindset?

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you’re the professional. ponder that a moment.

by hitendra patil
client accounting services: the definitive success guide

it was the 10th of may, 2012.

over dinner on that quiet mid-spring evening, at a classic traditional italian restaurant, i met the owner of one of my largest clients, only after about five years of providing services to his firm. his firm had chosen a particular niche industry to serve and only that. he was doing well – over $3.5 million in annual revenue, growing consistently, and employing 39 staff members. in any given week, two new clients were being onboarded via a very detailed process, moving clients’ accounting databases and processes into his firm.

more client accounting services articles

he would not take on any new client unless the client handed over all of the accounting work responsibilities to the firm.

all or none.
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six tips for setting compensation

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young woman holding giant dollar sign in modern office

plus 17 extraordinary benefits to consider offering.

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

“if you pick the right people and give them the opportunity to spread their wings and put compensation as a carrier behind it, you almost don’t have to manage them.” – jack welch

“pay your people the least possible and you’ll get from them the same.” – malcolm forbes

every cpa industry survey we’ve seen for decades shows that compensation is either no. 1 in importance to staff or close to it.

more: 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.

 

our feeling is that compensation is the ante to enter or stay in the game. put another way, according to jeremy wortman:

if college graduates are looking for their first job, or if a young person with a little experience is job hunting, compensation is huge. if a person has two offers, one for $60,000 and the other for $65,000, the higher offer will get the person almost every time. but if the offers are $500 apart and the person likes the firm offering the lower salary better, it’s likely that the lower-paying firm will get the nod.
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what to do when a partner becomes disabled

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man seated at desk in front of empty chair

what does the partnership agreement say? oops …

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

question: my partner has been out sick for the past 3½ months, and he has been continuing to get his draw. it looks like he will be out for some time more, but not sure how long.

more: 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 | nine reasons not to specialize | when board service gets tricky
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

he does make some calls from home, but isn’t really doing any work. is there anything i can do?
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do others think you’re ready to be partner?

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confident businesswoman seated at desk

three questions about your competence.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style.

more: competence is just the beginning | what rich accountants do | attract clients, don’t sell to them | how to attract clients | four reasons accountants struggle with selling | think of it as service, not selling | eight questions for personal preparation | perception, even your own, is reality | eight questions that target personal accountability | how to prepare for partnership | stop waiting for business to come to you | are you projecting confidence? | five questions to help forecast your firm growth | four key questions about leadership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

but two brief but succinct examples on the realities of how a firm assesses an individual’s “competence” for leadership are showcased really stood out:

  1. they need to explain technical data to me in a way that i know they understand.
  2. what kind of lifestyle does this person have outside of work? we’ll be looking at facebook, x and google to find out.

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