354 search results for stitely

why millennials are the answer

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millennial clients will make your firm smarter, faster, and more profitable.

by frank stitely
the relentless cpa

do you know why millennials can’t buy houses?

  • avocado toast is expensive.

more: why small firms can win the talent wars | the fool in the room | the 3 biggest tech failures of accounting firms | 7 steps to effective project management | wip-ing clients into shape | how to be the chief communicator | how to teach reviewing and time management | 4 steps to take before next tax season
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how many millennials does it take to change a light bulb?

  • none. they accept it for what it is.

why do millennials always type in lower case?

  • they reject capitalism.

what is a millennial’s favorite fragrance?

  • scents of entitlement.

buy me a craft beer, and i’ll tell you a half dozen more. now, after all of the above, i’m about to tell you why you need millennials as clients and how they increase the efficiency of your firm.

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14 better uses for timesheet data

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woman reading paper document at office desk in front of computerif you just pay people and move on, you’re missing critical information.

by ed mendlowitz

question: i keep timesheets for billing purposes but am not clear how i can use them to better manage my practice. how can i do this?

more: tossing timesheets is just the start | how’s your overhead? | 9 must-haves for firm growth | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
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answer: analyzing time records is a very effective practice management tool and is an essential part of most professional services organizations. some people contend that timesheets should not be used because they should not be the basis of any pricing, with fees solely based on the value to the client.

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why small firms can win the talent wars

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seven keys to beating the staffing shortage.//www.g005e.com/2020/09/18/better-talent-drives-better-results/

by frank stitely
the relentless cpa

the following story brought tears to my eyes while i sat in a barbados resort drinking some alcohol concoction. was it the alcohol talking or the happy ending where i got a profit distribution check? maybe a little of both.

more: the fool in the room | calculating and cutting turnaround time | debunking the demise of the cpa firm | how many tax preparers do you need? | how to teach reviewing and time management | 3 tips for handling rookie tax preparers | some uncommon advice on hiring full-time staff | what goes into a client project?
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the afternoon before i left for beautiful barbados, the partner group of our outsourced accounting practice met for a state of the practice meeting conducted by our director of outsourced accounting.
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the fool in the room

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which employee is most valuable? you might be surprised.

by frank stitely
the relentless cpa

we have been heavily in the numbers so far. let’s take a break from that to discuss a factor that, while not heavily numeric, plays a big factor in managing wip – employee productivity. because capacity is the denominator in the lean six sigma equation, and employee productivity is a big factor in capacity, employee productivity becomes a big factor in determining turnaround time.

more: calculating and cutting turnaround time | there are no easy answers | how to thrive as a 21st-century firm | farm-aid for accountants? | whittle down wip | the tax practice traffic cop | how to coach your staff | how to create good managers
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first, let’s dismiss from the room all the consultants, who tell us that time tracking and productivity metrics don’t matter. for the most part, these consultants have never managed or owned cpa firms. rarely have they worked in firms for any length of time.
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calculating and cutting turnaround time

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time is money : clock hands on $100 billsalso known as the laziness equation.

by frank stitely
the relentless cpa

one of the funniest parts of launching clarity practice management has been watching my business partner, peter daniel, learn about the business acumen of cpas and accountants. peter and i founded clarity as a collaboration between a cpa firm client (peter) and a cpa firm (me.). he knew what he wanted from a client perspective, and i knew what we wanted as a cpa firm.

more: there are no easy answers | the 3 biggest tech failures of accounting firms | 7 steps to effective project management | wip-ing clients into shape | maximize your role as visionary | the land mines in tax returns | give your people the resources they need
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

peter owns a software development company and believes in the rational decision-making model for businesses. the rational decision-making model is totally irrelevant to the way most cpas and accountants run their practices. for instance, consider this interchange between peter and a practitioner at our clarity booth during a trade show.
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non-cpa “cpa” firms? really?

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what the aicpa and nasba could learn from other professions.

by donny c. shimamoto, cpa.citp, cgma

i’ve been watching nasba and the aicpa communicate the need for a change to the requirements to be cpa. while their rationale may seem to make sense, i’m not sure i agree with their direction  – enabling more non-accountants to be cpas.

more donny shimamoto: what small and midsized firms can learn from pwc’s digital upskilling | what big data means to small firms | accountants: unleash your secret superpower | ready for non-cpa cpa firms? | accounting services aren’t what you think they are | learning from hurricanes harvey and irma

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when i think further about the bigger picture of the accounting profession, i believe the accounting profession needs to be more cohesive and inclusive – and perhaps that is the better course to pursue.

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there are no easy answers

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scrambled thoughts enter man's head, straightened ones come outbut we still can make more money, have happier clients and lead saner lives.

by frank stitely
the relentless cpa

i’m back. since writing the “relentless cpa – the new 21st century system for driving success at tax and accounting firms,” i have spoken to dozens of cpas and accountants, been called a dozen names (some of them deserved), and received a few death threats.

more: the 3 biggest tech failures of accounting firms | debunking the demise of the cpa firm | how many tax preparers do you need? | how to be the chief communicator | how to teach reviewing and time management | 4 steps to take before next tax season | some uncommon advice on hiring full-time staff
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

actually, the death threats came from my wife, who said she’d kill me if i said “yes” to any new projects. she watches lots of crime shows, so the fbi regarded her threats as serious. i am writing this to buy a bulletproof vest for when she gets out of jail. thank you for your contribution to saving my life.
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when time-based pricing works

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time is money : clock hands on $100 billswhat is most fair?

by ed mendlowitz
call me before you do anything: the art of accounting

back in 1980, i got a pretty large client and quoted a fixed annual fee to start, which would cover the routine regular work.

more: the clients that got away | cross-selling beyond your comfort zone | a test of concentration | value pricing in uncharted waters | i am an accountant because of clients like stanley | advising cheapskates | getting bonuses from clients
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after about three months i was asked to suggest some methods of compensating highly paid managers and to present them at a meeting in two weeks. i put together a memo with a few suggestions. when i showed up for the meeting, there were four other “groups” who were given the same assignment. one was the client’s law firm, one was the personal accountant for the client’s lady friend (who later became his wife), another was an insurance agent and one was an employee benefit plan specialist.
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