strategy

when partners leave: what to do today, to be prepared for tomorrow

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man taking medication from caretakerset policies now based on business, not emotion.

by bill reeb and dominic cingoranelli

let’s review departure/termination policies.

more on performance management: the four basic parts of cpa firm partner agreements | developing a three-year vision [video] | mps: how to elect them … and fire them | firms say what would change retirement pay | action plans for transitioning partners | how retirement issues affect succession planning
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

these may include:
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will the internet replace cpas?

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"search for solution" on computer screen3 steps to remaining relevant.

by rob nixon

it seems we use the internet for everything we want or need to know!

more on strategy: how offshoring is shaking up accounting | the profession disrupted: compliance commoditized
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addresses, companies, people, products, concerts, store opening times, weather, golf handicap, cycling routes, friends’ whereabouts (or what they are eating – yuk) and the big one…”how to do” everything. the internet seems to be our first port of call for anything we want to know or find information on.
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cpa firm partner performance: different activities, different metrics

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businessman sitting on scales with stack of coins in other traywith breakouts by clients, people, and firm.

by domenick j. esposito
8 steps to great

there are a variety of ways to measure these differing activities or capabilities for partners and team.

more on strategic planning: 6 measures of partner performance | how to drive partner performance with a smart compensation plan | 3 tools to boost your metrics | start with sound firm governance, economics | as tax season ends, strategic planning seasons begins
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but some are better than others.

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the four basic parts of cpa firm partner agreements

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time to retire clock faceit’s complicated. but proper policies ease buyouts and transitions.

by bill reeb and dominic cingoranelli

here is a list of common policies regarding partner/shareholder agreements that we cover with our firms, as well as some common issues that are important to address in the policies.

more on performance management: developing a three-year vision [video] | why the partner agreement matters | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality | how retired partners are robbing their own firms | action plans for transitioning partners | how retirement issues affect succession planning | develop your employees or suffer the consequences
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the sop (standard operating policy) categories are:
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how offshoring is shaking up accounting

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young businessman on phone with colorful world map backgroundsome firms use this tactic to focus on the work only they can offer.

by rob nixon

manufacturing companies have been using low-cost labor in developing countries for decades to produce their products. just look at the clothes on your back. i bet very few of them are made in the u.s.a.!

more on strategy: the profession disrupted: compliance commoditized
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the reality is that because of escalating labor costs, most western countries have priced themselves out of markets by attempting to produce the product locally.

up until a few years ago, it was primarily “hardware”-based manufacturing companies using this resource. now we are seeing “services” companies embrace the outsourcing trend with fully resourced teams.
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the view from the cpa firm corner office: when clients get tough, tough accountants get smarter

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top firm ceos battle fickle clients with a growing arsenal of specialized talent.

fresh sunrise at mountain

by 卡塔尔世界杯常规比赛时间 staff

while leaders of accounting’s largest and most successful firms face a bevy of concerns that include keeping up with technology and with clients’ changing demands, they tend to agree that attracting and retaining young, talented workers is their most pressing issue, according to a year-long 卡塔尔世界杯常规比赛时间 study of more than a dozen managing partners across the country.

more from the corner office: harry moehringer at marks paneth  |  shape-shifting at jim cunningham’s warren averett  |  henry & horne offers flex time, loans to future cpas  |  lee beall: finding next-gen leaders at rea & assoc. | joe kask leads ‘paradigm shift’ at blumshapiro | ceo charles weinstein: eisneramper targets work-life balance | hbk’s allegretti says firm must stress excitement factor | lou grassi focuses on recruiting, retention at namesake n.y. firm | richard berkowitz drives berkowitz pollack brant to ‘warp speed’ | randy myeroff at cohen & co.: winning the youth movement | rick dreher innovates wipfli for clients, younger workers | how blain heckaman drives value at kaufman rossin | weisermazars mp blake charts u.s. expansion | frank longobardi: cohnreznick’s battle for top talent |the robo-cpa: jim sikich prepares for disruptive technologies |

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“the major issues facing accounting firms run in cycles with spans when it’s all about things like quality of work or staying ahead in regulatory matters. and good firms have to focus on all of them. but what that boils to down to is your engagement with your people who deliver the services,” says randy myeroff, managing partner of cohen & co. of cleveland. “whoever can connect with today’s youth movement and invest in it the right way is going to win.”

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the profession disrupted: compliance commoditized

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house on crack shows housing market declinethe accounting profession globally is being disrupted right now and most accountants don’t even know it is happening.

by rob nixon

there are three main areas that are being disrupted in the profession:

  1. compliance is being commoditized by technology,
  2. labor is being sourced from less expensive countries and
  3. clients are using the internet for your advice.

these three market forces will only escalate, and if you do nothing about it, revenue, profit and business value will erode.

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harry moehringer at marks paneth: growth through talent and acquisitions

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sharing skills and knowledge with the next generation of leadership.

harry moehringer, managing partner of marks paneth
harry moehringer, managing partner of marks paneth

 

by 卡塔尔世界杯常规比赛时间 staff

harry moehringer, managing partner of marks paneth, the nation’s 34th largest accounting firm, expects the business to grow by deepening the expertise in its specialty services while it also reaches out further to attract younger professionals and staff workers.

imgmpslogomore from the corner office:  shape-shifting at jim cunningham’s warren averett | henry & horne offers flex time, loans to future cpas | lee beall: finding next-gen leaders at rea & assoc. | joe kask leads ‘paradigm shift’ at blumshapiro | ceo charles weinstein: eisneramper targets work-life balance | hbk’s allegretti says firm must stress excitement factor | lou grassi focuses on recruiting, retention at namesake n.y. firm | richard berkowitz drives berkowitz pollack brant to ‘warp speed’ | randy myeroff at cohen & co.: winning the youth movement | rick dreher innovates wipfli for clients, younger workers | how blain heckaman drives value at kaufman rossin | weisermazars mp blake charts u.s. expansion | frank longobardi: cohnreznick’s battle for top talent |the robo-cpa: jim sikich prepares for disruptive technologies |

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

“the most important issue facing accounting firms like ours is creating an environment that fosters long-term organizational growth and prosperity,” he says. “this requires recognizing that, as the baby boom generation continues to age and retire, high-level knowledge and expertise in the profession will need to transition to dynamic and younger owners of the firm.”

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why the partner agreement matters

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illuminated glass pyramid at the louvre, paris at nightmany agreements have long outlived a reasonable foundation for the firm’s current success level and size.

by bill reeb and dominic cingoranelli

most of the time when we are called in to work with firms, it is to help them plan for or implement significant change. the dialogue may start out with a general firm retreat, or it might simply be a session devoted to solving a few specific problems.

more on performance management: younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality | make accountability a process | accountability requires clear expectations | base retirement on today’s operations

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

visionary firms are always looking to make changes long before their operating environment forces them to, from enhancing their ability to compete, making changes to improve profitability, building infrastructure to support succession, upgrading their people development, modifying the compensation process, increasing revenues and more.
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six measures of partner performance

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yellow retractable steel tape measureit’s time to use the balanced scorecard.

by domenick j. esposito
8 steps to great

once the basic compensation pools have been established, your partners need to understand how they can “win” and get rewarded.

more on strategic planning: how to drive partner performance with a smart compensation plan | develop the partners you already have | how many partners do you need? | how to develop tactics for your strategic plan | the big eight: harsh realities for firms today

 

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each individual’s balanced scorecard will be the basis of performance measurement. i recommend six areas for evaluation:
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shape-shifting at jim cunningham’s warren averett

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when your biggest competitors aren’t always cpa firms, you need to re-define who you are.

jim cunningham, chief executive officer of warren averett cpas
jim cunningham, chief executive officer of warren averett cpas

by 卡塔尔世界杯常规比赛时间 staff

success for accounting firms may depend on their recruitment of non-cpas to handle some specialized business advisory services, according to jim cunningham, chief executive officer of warren averett cpas and advisors, the nation’s 27th largest accounting firm.


more from the corner office:  henry & horne offers flex time, loans to future cpas  |  lee beall: finding next-gen leaders at rea & assoc. | joe kask leads ‘paradigm shift’ at blumshapiro | ceo charles weinstein: eisneramper targets work-life balance | hbk’s allegretti says firm must stress excitement factor | lou grassi focuses on recruiting, retention at namesake n.y. firm | richard berkowitz drives berkowitz pollack brant to ‘warp speed’ | randy myeroff at cohen & co.: winning the youth movement | rick dreher innovates wipfli for clients, younger workers | how blain heckaman drives value at kaufman rossin | weisermazars mp blake charts u.s. expansion | frank longobardi: cohnreznick’s battle for top talent | the robo-cpa: jim sikich prepares for disruptive technologies |
yellow_key_clip_art-e1375897299811exclusively for pro members. log in here or 2022世界杯足球排名 today.

“we should want our clients to truly value us, which means choosing us for discretionary services as things arise, rather than just turning to us for something that needs to get done,” says cunningham.

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how to drive partner performance with a smart compensation plan

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dollar being built of blockshow to use compensation as a way of running your firm.

by domenick j. esposito
8 steps to great

“show me your compensation plan and i’ll show you your strategy.”
– dom esposito

as you strive to become a mid-market sustainable brand, your firm needs to become a performance-driven organization if you want to take advantage of future opportunities and drive growth and profitability. an effective performance management and compensation plan (pmcp) is critical to making your firm’s strategic plan a reality.

more on strategic planning: develop the partners you already have | is hr ready for your partner pipeline? | is your pyramid upside down? | taking a balanced scorecard to your partners | seizing the $10 trillion opportunity

the basic premise is that compensation rewards first look to:
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four-part plan to re-ignite revenue growth

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sprout growing on money pile of glass jar banknew times call for new expansion strategies.

by gale crosley

it’s been a long slog, but we finally see the light at the end of the tunnel known as the great recession. both job creation and the gross domestic product are robust. interest rates remain low, and the stock market is showing solid gains.

more by gale crosley: not all fish need audits  |  the 4 new growth engines in today’s marketplace  |  change catches up with auditors  |  the 6 elements to sustainable growth for cpa firms  | jody padar’s new vision for the ‘new accounting’  |  reality check: achieving world-class growth requires real-world intelligence  |  crosley: the new growth evolution  |  expand your vision and expand your business  |  leveraging leadership: a new way of looking at growth  |  are you creating a sustainable firm?  |  don’t confuse marketing with a true growth strategy  |  overcoming four imaginary barriers that limit cpa firm growth  |  how firms unleash the power of diamonds, cash cows and fat cats  |  how smart firms use market research  |  got leads? get real. learn how to qualify big opportunities  |  it’s a new generation in lead generation  |  at the best firms, growth is no accident  |  four keys to success at seiler cpas  |  how accounting firms are re-building their sales pipelines  |  how to get started on ifrs in one easy step  |  [pro member exclusive. log in required.]

video: the three elements of growth strategy  |  defining the new business model  |  the 3 hallmarks of the ‘new accounting’ business

while these bright spots are welcome, i urge firm leaders not to be lured into believing that it’s back to business as usual. the light at the end of the tunnel may look like, well, light. but the market conditions illuminated by that light are substantially different from those of the pre-recession environment.

what’s changed? nearly everything, from an upsurge in globalization to stiffer competition, increased standards and regulations, more specialization and a growing reliance on technology. today, clients can engage cpa firms around the corner or around the globe. just because you’re in the neighborhood doesn’t mean you’re in the running. read more →