‘unprecedented demand’ for accounting grads

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cpa firm hiring tops 40,000 for first time ever.

by rick telberg

bolstering reports of a suddenly surging profession with a high demand for top talent, a new survey of colleges and firms by the aicpa shows that cpa firms are hiring a record number of graduates.

at the same time, the pipeline of accounting students is bulging, suggesting to some that the continuing high demand for new recruits can be met by newly minted graduates for the next few years.

this will come as good news to firms facing growing new-business opportunities, tougher competition and a growing need for entry-level staff.

it does not, however, help alleviate the catastrophic stall in growth dating back to the 1990s with the spread of the so-called 150-hour rule that has left the profession with a gaping hole in its succession and business continuity strategies. the profession, already facing a succession crisis due to the aging-out of the baby boomers, now finds itself with a dearth of 40- and 50-something senior managers and junior partners to take over management and control – a fact that a record supply of new graduates won’t correct for 10 or 20 years, if ever.

 

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the good news for hiring: pipeline fills with huge supply of talent.

the report shows: read more →

back to the future: staff shortages re-emerge as top worry for cpa firms

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a sign of economic recovery and increased competition.

bringing in new business and finding top-notch staffers to handle anticipated growth are emerging as the new, most pressing challenges for cpa firms today.

with a rebounding economy, the aicpa says in its new pcps “top issues survey” that client retention, which had been a significant concern for firms in the 2009 survey, has been overtaken by a tilt toward growth issues.

“finding qualified staff” was a top issue from 1997 to 2007 for all but the smallest firms, but disappeared entirely from top 5 lists in 2009. now it’s back.

read more →

accounting staffers show new signs of job restlessness

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some 37 percent of finance and accounting workers say they are likely to look for a new job in the next 12 months, an increase from 33 percent last quarter.

fifty-three percent say they are not likely to job search, falling five percentage points from the previous quarter.

confidence among u.s. finance and accounting workers decreased 2.4 points to 53.4 in the first quarter of 2013 after rebounding in the last quarter of 2012. read more →

trends in temporary staffing

rationalizing a broken system and recapturing two-thirds of lost value.

dan gaffney
dan gaffney

with cpa firms and corporations rushing to staff up with a suddenly warming economy, finance and accounting employment agencies are booming. but it can’t last. sooner, rather than later, the internet will change everything.

dan gaffney, a cpa, cia, cisa and a 20-year audit veteran, in both public accounting and in corporate, is positioning himself to take advantage of the paradigm shift. he’s out to revolutionize the finance and accounting temp business.

his chicago-based incubation-stage start-up, vouchedin.com, is seeking to do to short-term staffing placements what monster did to newspaper classifieds and what apple did to the recording industry: leverage the internet to cut out the middleman, re-channeling profits to both the worker and the employer. it could change a big part of the accounting profession as well. – the editors read more →

when staffers don’t listen to you

15-item checklist on effective staff management.

ed mendlowitz, cpa, abv, pfs
author
of “implementing fee increases

question: my staff doesn’t listen to me.  to be able to manage and control my business i need them to prepare a monthly schedule of what they plan on doing that month.  i further need to know each morning if they did what they were supposed to do the previous day, and whether there was anything not done, or anything extra that wasn’t planned on.  my problem is that they don’t give me the schedule and then don’t call or email me to tell me what they did. i really need to know this stuff and can’t figure out how to get them to do it.  what can you suggest? read more →

amid industry expansion, cpa firms remain cautious in hiring

the good news: 10,700 accountants hired. the bad: profit pressure.

the u.s. tax, accounting, and bookkeeping industry added a seasonally adjusted 10,700 jobs in march, the ninth straight month of year-over-year expansion, according to 卡塔尔世界杯常规比赛时间 sources. women and non-exempt employees are making up the bulk of the workers returning to the industry, but not, it seems, to cpa firms, where caution seems to be continuing. at the same time, 卡塔尔世界杯常规比赛时间 finds renewed pressure on fees and pricing while utilization rates and salaries continue to increase.

– rick telberg
卡塔尔世界杯常规比赛时间 research

in this report:

  • overall hiring trends
  • women employment
  • cpa firm hiring
  • overall trends in pricing and billing rates
  • cpa firm pricing trends
  • tax prep pricing
  • pricing for bookkeeping and compilation
  • number of hours worked per week
  • trends in wages and earnings

 

the 3% increase to 932,900 full-time equivalents from the year-ago month represents the biggest jump in a year. still, the rise left the industry’s head count 14,100 jobs shy of the month’s record high of 946,700 in 2008.

all employees, thousands

read more →

comp plans for the new managing partner

lessons from the best-managed firms.

by marc rosenberg
author of “cpa firm management and governance: the managing partner’s guide to running a cpa firm like a business.”

baby boomer partners are rapidly approaching retirement age, resulting in a dramatic increase in new managing partners at firms.

in fact, 卡塔尔世界杯常规比赛时间 estimates that up to 25% of multi-owner firms are operating under managing partners who are relatively new to the job, with tenures under three years. and over the next five years, one-third of multi-owner firms will undergo a change in ownership and/or control. read more →

finance and accounting professionals forecast improving job prospects through 2013 [pro member exclusive]

rebound in confidence after two quarters of decline.

next question: what’s your best career advice? join the survey; get the answers.

a leading measure of overall confidence among u.s. finance and accounting workers, rose 5.4 points to 55.8 in 4q 2012 — ending a two-quarter decline, according to new data reported by 卡塔尔世界杯常规比赛时间.

the new survey finds growing confidence in job availability and in workers’ personal employment situations, despite continued tepid sentiment in the strength of the economy.

read more →

putting the “no jerks” rule to work in tax season

and a couple more ideas for high performing firms.

by ed mendlowitz
tax season opportunity guide

ed mendlowitz
ed mendlowitz

if you have staff, have happy, cheerful, helpful people. don’t surround yourself with downers and nay-sayers.  make sure they are team players.

part of this is your firm’s culture.  it takes work to get people to work together and to focus on doing what it takes to service the client fully, properly and timely.  everyone working together gets it done.  you need to create that atmosphere.

here are three things that might help:

read more →

after an economic pause, the accounting industry restarts expansion engines

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
.

read more →

when’s the right time for a full-time quality control reviewer?

not when, but how?

question: i want to improve my firm’s review and quality control. do you have any suggestions?

ed mendlowitz responds: this is a recurring issue for most firms. every cpa practice needs quality control. the issue is whether a dedicated quality control (“qc”) person is needed and, if not, how the qc can be done without one.

a practice is a business and every business must be run efficiently and profitably. qc is an area that i have found many firms getting tied up in and either spending nothing or much more than they should.

more ed mendlowitz:  free instant download: sample fee schedule for 1040s    |  tax season opportunity guide 2013   |  12 reasons to love tax season   |   implementing fee increases for 2013

a firm needs a dedicated qc person when the work load volume warrants it, especially where there are bottlenecks and backlogs because the supervisor or partner who would review the work is not readily or easily available; the scheduling becomes exceedingly difficult; and the expertise and training becomes more specialized and wider in scope. read more →

overcoming the three biggest obstacles in succession planning at cpa firms

hint: start linking it to compensation.

by marc rosenberg, cpa
author of “cpa firm succession planning”

it’s common sense that the key to succession planning is developing future leaders, a practice at which the vast majority of cpa firms billing under $15-million-a year struggle with.

marc rosenberg
marc rosenberg

more on cpa firm management and leadership for pro members [go pro here] :   cpa firm merger “non-negotiables”      the “aha moment” in cpa firm leadership      leadership is overrated: it’s good management that makes successful firms •  40 great ways to improve firm profitability  •  four management metrics that fool even the best-run firms  •  19 ways to improve accounting firm profitability de-bunking the myth about niche marketing for tax and accounting firmspractice development is no longer an optional activity10 good ways the achieve partner accountabilitypick your partners right to begin withthe first nine questions your partner team needs to embrace for optimal profitabilityprofitability and the value of strategic thinkingthe five essential building blocks for creating a strong accounting firmthe seven signs of great leadership in a cpa firmcompensation issues for the new managing partner 

here are three tactics for developing future leaders: read more →