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seven world-tested strategies for coping with fee pressures

february 4, 2013

global accountants’ association warns profit squeeze may “the new normal.”

in the face of profit problems for accounting practices worldwide, the international federation of accountants, which represents the world’s national accountancy institutes, is warning the global profession that fee pressures may be “the new normal.”

with many clients around the world “faced with subdued demand” for their products and services, “it’s not surprising to find small- and medium-sized practices facing demands to negotiate fees or cut prices.”

with that in mind, ifac suggests seven strategies: read more →

after an economic pause, the accounting industry restarts expansion engines

february 2, 2013

by rick telberg

**the 卡塔尔世界杯常规比赛时间 busy season barometer**
click to join the survey; see the results

but many cpa firms appear to be missing out on the recovery.

by rick telberg
卡塔尔世界杯常规比赛时间 research

the nation’s tax and accounting industry appears to have re-started expansion with new hiring in january, after a two-month pause at the end of 2012 in november and december, according to 卡塔尔世界杯常规比赛时间 research. but the gains appear to be concentrated in non-cpa-owned offices.

analysts are attributing the 2012 year-end economic stall to two major storms which slowed economic activity: one, hurricane sandy, and, the other, congress, which has been gridlocked under a bubble of hot air.

卡塔尔世界杯常规比赛时间 pro members:
get the instant download
full report (pdf, 20 pages), here.

in this new analysis, 卡塔尔世界杯常规比赛时间 finds:

the nation’s accounting and bookkeeping services employers are re-started hiring after a short pause.
the 卡塔尔世界杯常规比赛时间 busy season barometer survey is showing that 32.6% of respondents cite staffing issues as a “chief concern.” join the survey; get the updates.
employees are putting in more hours.
wages are trending upward again.
the industry is grappling with staff leverage ratios.
cpa firms, as a subsector, are showing signs of a stall in growth and are holding line on expansion.
cpa firms are paying top dollar for talent.
cpa firms are showing fewer hours worked.
tax prep offices have slammed the brakes on hiring, pending clarifications from washington.
pay and hours worked are trending upward at payroll agencies, even as their headcounts remain volatile. read more →

after an economic pause, the accounting industry restarts expansion engines

february 2, 2013

by 卡塔尔世界杯常规比赛时间 research

but many cpa firms appear to be missing out on the recovery.

by rick telberg
卡塔尔世界杯常规比赛时间 research

卡塔尔世界杯常规比赛时间 pro members:
get the instant download
full report (pdf, 20 pages), here.

read more →

practice doctor q&a: how to get started in family office services

january 24, 2013

by edward mendlowitz

including a sample engagement letter.

question: some of my clients are getting older and are becoming unable to handle their own financial affairs and i have been asked if i could assist them. what is involved and how do i charge for it?

ed mendlowitz, vpa, pfs, abv, responds: many large firms provide “family office” services. this is a complete one stop financial service that helps clients manage their money, pay their bills, collect their dividends and interest, and make sure insurance isn’t cancelled, mortgage, car lease or condo fee payments aren’t skipped, and tax payments paid on time.

following is a sample engagement letter that i use with clients needing such services. also, this letter provides a detailed description of what the service involves. read more →

survey results: accountants’ new year’s resolutions — 2013 edition

december 27, 2012

by 卡塔尔世界杯常规比赛时间 research

‘tis the season for new promises and plans.

we’ve been asking finance and accounting accounting professionals about what 2013 may hold, and you’ve been answering. to get all the details, click here to join the survey and get the results.

meanwhile, here are a few sample new year’s resolutions from colleagues and peers. some may sound all too familiar from resolutions made in 2012. personally, i’m still working on the lose-15-pounds resolution from 2012, and, er, 2011, 2010, 2009… oh well.

— rick telberg
president / ceo

new year’s resolutions from finance and accounting professionals:

new seo plan for getting higher ranking on google.
working with tax resolution professional and preparing returns for them at a split fee.
work more on marketing
downgrade expectations.
get more audits of private companies.
work, work and work, because of so much competition and unemployment, the best bet is to keep busy by working and get the maximum out of colleagues/sub ordinates. i will not be carried away with number 13, this is my lucky number so i will capitalize on this number. read more →

five ideas to overcome client price-sensitivity

december 13, 2012

by 卡塔尔世界杯常规比赛时间 research

just in time for busy season.

by sandi smith
the accountant’s accelerator

no matter how small or large your practice is or how experienced you are, you’re probably going to meet some prospect or clients this busy season who are price-sensitive. many of you try to run from them as far away as possible, and others of you tell me you have to take these clients or you wouldn’t have a full practice.

more for soloists and small firms from at 卡塔尔世界杯常规比赛时间: rise to the top with a fresh elevator speech • four ways to practice entrepreneurial perseverance • 5 mistakes to avoid when seeking new clients • the success secrets women already know • his and her brains at work in tax and accounting • the power of deadlines in closing a deal • on the road to a stress-free life: identify your character strengths • the missing ingredient in your marketing that will make all the difference •

so you might already have a solution to dealing with price-sensitive clients that you’re happy with. if you don’t, or are ready for more ideas, this article is for you. read more →

thinking merger? look before you leap

november 9, 2012

by 卡塔尔世界杯常规比赛时间 research

august aquila - full size mug — august aquila

the seven essential phases of a successful merger.

by august aquila
aquila global advisors

if you’re contemplating a merger, then stop and think for a moment. a successful deal requires careful thought and planning.

in this article, we examine the seven phases common to most mergers. and 卡塔尔世界杯常规比赛时间 pro members will find the free instant download: “the pre-merger data gathering checklist for an accounting practice.” read more →

the real election day winners? accountants

november 6, 2012

by 卡塔尔世界杯常规比赛时间 research

what the election means for busy season: join the survey, get the answers.

by rick telberg

the re-election of president obama may sweep away a few uncertainties in tax and economic policies that have been stymieing business decision-making. but it also sets the stage for a very busy busy-season, complete with last-minute changes in code and forms.

and i’d be surprised if the partisan gridlock in congress suddenly loosens. read more →

the power of deadlines in closing a deal

october 27, 2012

by 卡塔尔世界杯常规比赛时间 research

headache or dream come true?

by sandi smith, cpa
accountant’s accelerator

in the accounting profession, there are a ton of deadlines. month-end, quarter-end, and year-end. payroll taxes, sales taxes, and corporate taxes. and extension deadlines, filing deadlines, and payment deadlines, to name just a few.

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间: on the road to a stress-free life: identify your character strengths • the missing ingredient in your marketing that will make all the difference • 3 steps to start running on millionaire time • 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make • seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue • what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

all of these deadlines may be a headache to business owners and accountants alike, but they are a marketer’s dream come true. how can you use deadlines to your advantage in marketing your services? and what if you are selling a service that is not in the accounting profession? keep reading and we’ll answer these questions and provide you with five ways to woo your prospect with deadlines. read more →

5 mistakes to avoid when seeking new clients

september 30, 2012

by 卡塔尔世界杯常规比赛时间 research

business development for sole practitioners and small firms.

by sandi smith, cpa / special to 卡塔尔世界杯常规比赛时间

if you’re a sole practitioner or small-firm operator, you’re probably very good at what you do — or you wouldn’t be in business today. but when it comes to marketing and selling yourself, well, many of us didn’t voluntarily sign up for that part.

as a matter of fact, some of us are resisting — kicking and screaming — marketing ourselves. so no wonder, for some of us, business is slow or not growing at the rate we’d like.

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间: the top 12 business card blunders accountants make • seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue • what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

we all hope we will have enough referrals so that we will never have to sell ourselves. but in the last few years, referrals, even for those with huge followings, have slowed down. it’s past time that we work on more fully developing the marketing and selling function of our businesses.

as you do, here are five mistakes to avoid: read more →

accounting industry adds 500 jobs

august 3, 2012

by 卡塔尔世界杯常规比赛时间 research

marks 16 months annualized expansion. but cpa firms are a different story.

accounting and bookkeeping services, all employees in thousands, thru july 2012

the accounting and bookkeeping industry, which includes cpa firms and payroll agencies, added a statistically meaningless 500 jobs in july, according to new data sourced by 卡塔尔世界杯常规比赛时间. july ended with 953,200 fte’s, up from june’s 952,700.

but it’s in the year-over-year gains where the trend is more clear. and the story at cpa firms is much different.

cch opens platform to connect 3rd-party apps

june 26, 2012

by 卡塔尔世界杯常规比赛时间 research

new partner program with other software vendors supports immediate integrations.

via cch wolters kluwer

tax and accounting professionals now have a new way of working, integrating applications from different sources on cch’s new “open” integration platform, sharing common data and streamlining workflows easily between systems. applications available for integration include those created by cch, and other applications by third-party providers – and even applications developed within a firm or corporation.