764 search results for rosenberg

seven things good firms must do

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six people meeting around office conference table

good management gets them there.

by marc rosenberg
the rosenberg practice management library

if partners of firms across the country were asked what the key was to the success of legendary fortune 500 companies such as general electric, coca-cola, ibm and countless others, i’m sure that the words “strong management” and “strong leadership” would dominate their responses. yet, ask those same partners to evaluate their own firms’ management, and if they are honest, their responses would not be very flattering.

more: five ways to separate accounting winners from losers | two factors determine firm profitability | five keys in compensating new managing partners | what partners do and don’t deserve | five steps to transition to partnership
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of all of the techniques for improving cpa firm profitability, none is more effective than strong management and leadership. yet, nothing is more elusive. why is this?
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five ways to separate accounting winners from losers

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two women looking at laptop screen

how many of these are you expert in?

by marc rosenberg
the rosenberg practice management library

if cpa firms did everything “right,” they could easily double or triple their income. doing things right includes effectively bringing in clients, charging high billing rates, maintaining strong realization, high leverage of staff to partners and keeping expenses down. it’s the rare firm that does well in all of these categories.

more: two factors determine firm profitability | don’t make firm profitability a goal | top 20 tough choices for the partner comp committee |tell potentials what partnership takes | disturb the present to improve the future
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the path to profitability is different for every firm. but the truly profitable firms are successful at achieving one or more of the following:
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two factors determine firm profitability

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magnifying glass showing bar charts

you’d think accountants could agree on a common definition. nope.

by marc rosenberg
the rosenberg practice management library

if you asked the president of a fortune 500 company or the owner of a restaurant to define profitability, they would be able to give a quick, definitive answer. not so with cpas.

surely, you’ve heard the story, perhaps apocryphal, of the company that was interviewing for a new cpa firm. only one question was asked of each candidate: “how much is two plus two?” the firm that won the bid gave the answer, “how much would you like it to be?”

more: don’t make firm profitability a goal | core values: why your firm needs them | voting on ownership basis? three better methods | fifteen big questions for your next strategy session
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the same can be true of cpa firm profitability. how do we measure it? you would think that the uncontested champions of measuring financial data, cpas, would have this down to a science. but such is not the case.
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don’t make firm profitability a goal

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an example from outside the accounting profession.

by marc rosenberg
the rosenberg practice management library

it has been said that organizations should never have profitability as a goal. why? because profitability should be the result of an organization’s efforts, not its goal.

more: core values: why your firm needs them | five keys in compensating new managing partners | what partners do and don’t deserve | five steps to transition to partnership | disturb the present to improve the future
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profitability is a measure of success in accomplishing core business goals. the disney corporation probably says it best in their mission statement, which is short and sweet, but very powerful: “our mission is to make millions happy.”
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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
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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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tax & accounting firms to see more consolidation

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illustration of business negotiation with paperwork, puzzle pieces

also: next gen leadership will rise.

by jennifer wilson
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?

unless there’s another round of vaccines, we’ll see more covid-19 disruption as colder weather forces more firm activities indoors. more consolidation will happen as more firm leaders feel pressure to move their problems to a larger firm and the megafirms feel more pressure to keep up with the joneses and absorb more.

more: 2024 outlook: ‘specialization is the future’ | remote work will see cuts; pe will trickle down | tech, capital will drive accounting profession growth | ‘great shakeup’ in cpa firms on the way | pe, consolidations to keep impacting accounting profession | soft skills are front and center
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at some point, perhaps longer than 12 months from now, one or more of the superconsolidators is going to falter. more than likely is some significant service failures as their lack of integration and acculturation drives turnover and a talent shortage beyond what they’re able to rescue. i hope this doesn’t happen, but it feels like some of these firms are facing a perfect storm of financial performance and growth expectations, high client demand, capacity issues and a less unified, disorganized leadership apparatus unable to respond to these challenges.
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2024 outlook: ‘specialization is the future’

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man holding pen touching the word "specialization" floating in air with symbols

audit troubles meet staffing shortages; uh-oh.

by carrie steffen
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?

there are a couple of interesting stories on the horizon. first is the public company accounting oversight board’s crackdown on audit deficiencies and how that will play out vs. a push to ease some of the requirements to become a cpa.

more: remote work will see cuts; pe will trickle down | three ways firms can succeed in 2024 | new energy comes from new ways of doing business | ai for accounting automation will be significant | a 40-hour workweek is feasible | it’s time for a new business model
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

with a perception of the quality of audits declining and the number of cpa candidates dropping, how will the profession reconcile the pressure to improve quality with fewer people to do the work and the proposed solution of lowering the threshold to become a cpa?
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