587 search results for marc rosenberg

core values: why your firm needs them

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plus 12 examples. which work for you?

by marc rosenberg
the rosenberg practice management library

core values are the attitudes and beliefs that define a firm’s culture and a critical ingredient in a successful compensation plan.

more: five keys in compensating new managing partners | top 20 tough choices for the partner comp committee | tell potentials what partnership takes | disturb the present to improve the future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

partners talk about the firm’s core values all the time, pointing out instances when someone’s behavior has clearly been impacted by them. these values are incorporated in processes throughout the firm, such as in the development and evaluation process, in the way income is allocated to partners, and in what raises are given to staff.
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remote work will see cuts; pe will trickle down

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child with stuffed animal pointing at woman's computer screen

corporate form of governance is seeing more acceptance.

by marc rosenberg
the rosenberg map survey

editor’s note: every year, the rosenberg map survey asks the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? also, how would you assess the last 12 months?

  • private equity shows signs of trickling down to sizeable local firms (say $15-30 million firms).
  • the aging of baby boomers – ages 57-75 – continues but at some time in the next five years or so, their tremendous wave of retirements will abate somewhat and there may be fewer sellers.

more: three ways firms can succeed in 2024 | firms must choose best workplace model | outsourcing, remote work will help firms grow capacity, revenue | private equity leading to corporate-style cpa firms | five ways staff shortages are changing firms forever | partner incomes surge 11.4%
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  • artificial intelligence has ramped up its awareness in the cpa firm market. though many have warned of the negative impact of ai, its upward trend is relentless and knows no bounds.

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top 20 tough choices for the partner comp committee

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man, woman, man having serious discussion around conference table

production isn’t all that matters.

by marc rosenberg
the rosenberg practice management library

increasingly, cpa firms are adopting the compensation committee system for allocating partner income. firms are finding that systems such as formulas, pay based on ownership percentage or pay-equal no longer work.

more: voting on ownership basis? three better methods | what partners do and don’t deserve | tell potentials what partnership takes | fifteen big questions for your next strategy session | five steps to transition to partnership | disturb the present to improve the future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if there is one overarching cause for this significant trend, it’s that firms are understanding that their partners need to be something more than production machines. in addition to bringing in business, managing a client base and working billable hours (all of which continue to be important values in a compensation committee), partners need to excel in intangible areas such as helping staff grow and develop, developing specialized expertise and teamwork. the compensation committee is one of the best systems available to cpa firms to allocate income based on this diverse array of performance criteria.
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voting on ownership basis? three better methods

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four people seated around conference table, one with thumb pointed down

maybe one-partner, one-vote isn’t working.

by marc rosenberg
the rosenberg practice management library

most firms vote on a one-person, one-vote basis despite varying ownership percentages.

but is that always the best way? here are three better ways.

more: what partners do and don’t deserve | tell potentials what partnership takes | fifteen big questions for your next strategy session | five steps to transition to partnership | disturb the present to improve the future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

voting done on an ownership percentage basis:

  1. essentially “disenfranchises” the minority owners. their vote doesn’t mean much, and it becomes tantamount to not having a vote at all. when they have no vote, they tend to get disenchanted and cease acting like partners. they may eventually leave.
  2. gives too much power to the majority owners.

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what partners do and don’t deserve

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man wearing suit, pointing one thumb up, one down

yes, there are limits. 

by marc rosenberg
the rosenberg practice management library

partners are entitled to a lot. at some firms, they are virtually royalty. but that’s no way to run a firm these days.

a partner is entitled to:

1. attend partner meetings and retreats.

more: tell potentials what partnership takes | fifteen big questions for your next strategy session | five steps to transition to partnership | disturb the present to improve the future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

2. have access to all confidential firm financial data.

3. receive a return on capital; repayment of capital when he/she leaves the firm.
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private equity leading to corporate-style cpa firms

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pawns and stacks of coins, each with an arrow leading to several coin stacks in the center

long-term incentives remain a challenge.

by 卡塔尔世界杯常规比赛时间 research

for some reason the advent of private equity and other alternative investment in cpa partnerships isn’t receiving much media attention though it is quickly setting in motion an extensive overhaul of the traditional partnership structure.

more: pe, consolidations to keep impacting accounting profession | a 40-hour workweek is feasible | five ways staff shortages are changing firms forever | soft skills are front and center | it’s time for a new business model | rosenberg map: partner incomes surge 11.4%
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

asked what they expect to see in the next 12 months, several experts opining in the rosenberg national survey of cpa firms statistics identify increasing outside investment in cpa firms and consequent new business models.
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tell potentials what partnership takes

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senior businessman mentoring two younger workers

bonus: 27 suggestions.

by marc rosenberg
the rosenberg practice management library

cpa firm partners keep lots of things secret at their firms that should be open. one of them is a written document stating the firm’s criteria for making partner.

more: fifteen big questions for your next strategy session | five steps to transition to partnership | disturb the present to improve the future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the main explanation we hear for not having such a document is that they are afraid creation of this document will backfire. they are afraid that an underperforming staff will wave this document in front of the managing partner’s face, informing him/her that they have fulfilled all the criteria for making partner and demanding a date for coronation.
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