management

10 questions every reviewer should be able to answer

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businessman looking up answers in a bookbonus checklist: the answers!

by ed mendlowitz
tax season opportunity guide

the primary people who should review tax returns are trained tax department reviewers. however, often the bunching and compression of work shifts some of the review to higher level, non-tax personnel such as audit managers and partners who might not necessarily have the comprehensive training, background and experience to handle everything that might come up during the tax preparation process.

more on tax season: 16 qualities of a good tax season client | 8 ways to delight tax season clients | small tax season leaks can cause great damage | 5 ways thorough beats sloppy in tax season | here’s your new tax season marketing plan | when ‘quick and easy’ tax season research isn’t | 5 personal touches for tax season | consistency simplifies tax season | 11 clear client instructions to make your tax season easier | 3 ways to build a tax season team | have fun this tax season | how to get paid faster this tax season

additionally, in many firms, almost everyone on the staff prepares some returns. that lack of dedicated preparers with the trained skills places an added burden on the tax reviewers, making it important for them to have the range of experience needed to perform the review.

following are 10 questions reviewers should be able to answer to qualify for their role.

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16 qualities of a good tax season client

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green cast iron sign with white 16 painted on itwe need each other. make the relationship a good one.

by ed mendlowitz
tax season opportunity guide

clients are our customers who pay our salaries and present us with stimulating opportunities allowing us to grow.

more on tax season: 8 ways to delight tax season clients | small tax season leaks can cause great damage | 5 ways thorough beats sloppy in tax season | when ‘quick and easy’ tax season research isn’t

there is no such thing as a bad or nuisance client – although there are clients who sometimes do bad or nuisance things.
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8 ways to delight tax season clients

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portrait of a mature businesswoman giving a binderdo you make them feel important?

by ed mendlowitz
tax season opportunity guide

clients are our customers. they pay our salary and enable us to make good livings. do what you can to accommodate them and make them feel important – as important as they believe they are.

more on tax season: small tax season leaks can cause great damage | 5 ways thorough beats sloppy in tax season | here’s your new tax season marketing plan | 5 personal touches for tax season | 11 clear client instructions to make your tax season easier | how to get paid faster this tax season

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also be user-friendly – do not make it difficult to work with you. clients don’t know how smart we are. they think we are great, but they measure us by the small things – the good and bad.
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small tax season leaks can cause great damage

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tiny businessman standing on dripping faucetbonus checklist: 5 key points to keep in mind.

by ed mendlowitz
tax season opportunity guide

some people are micromanagers and anal with details. others are big-picture managers, letting details take care of themselves.  neither is completely effective and both disciplines need to be balanced.

more on tax season: 5 ways thorough beats sloppy in tax season | here’s your new tax season marketing plan | when ‘quick and easy’ tax season research isn’t | 5 personal touches for tax season | consistency simplifies tax season | 11 clear client instructions to make your tax season easier | 3 ways to build a tax season team | have fun this tax season | how to get paid faster this tax season

there is a time for details and a time for big-picture thinking. when setting up procedures and processes it is essential that all details be considered and planned for. once the process is set up, there should be brief but continuous monitoring. and then the big-picture thinking should take over – that is where you will make your money.

but you can’t get to the big picture ever if you are always immersed in the details. not setting up methods right at the beginning – or permitting a lack of adherence to them – will thwart any chance of growth and the success you can achieve.

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5 ways thorough beats sloppy in tax season

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businessmen miserable over errormake sure your staff feel the same way.

by ed mendlowitz
tax season opportunity guide

don’t be sloppy instead of thorough.

all work has to be reviewed. and clients and others look at it.

sloppy work is always evident and usually incomplete. thorough work is careful and usually complete.

more on tax season: here’s your new tax season marketing plan | when ‘quick and easy’ tax season research isn’t | 5 personal touches for tax season | consistency simplifies tax season | 11 clear client instructions to make your tax season easier | 3 ways to build a tax season team | how to get paid faster this tax season

thorough work takes longer when first being worked on, but review time is drastically reduced. further sloppy work takes longer to be reviewed and longer for the preparer to be acclimated with the file when picking it up to make changes.

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11 steps to building a better partnership team

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concept of teamwork building working system of cogwheels

creating a firm where all the partners work in unison.

by august aquila
creating the effective partnership

as the saying goes, a picture is worth a thousand words. your vision is a journey to some place in the future. it’s not where you are today. it may even take generations to get there. it becomes even more compelling when it’s somewhere your people want to go.

while it’s the ultimate destination that people engage with, the journey there is also important. if the end point is exciting and has benefits that your people share, they will be more engaged in the journey. and, when partners are engaged with the firm’s future, they perform better.

more on leadership: why your firm should be a republic  |  5 questions about your firm’s direction | 6 reasons to keep partners from retiring | 6 reasons why cpa firms fail in innovation | 6 steps to handle staffing problems in a merger | 7 signs your firm is headed for an implosion | it’s not always about money: 16 tweaks for your comp system | eight key goal areas for partners | like herding cats: partners must ‘walk together’ | managing partners must remember partners’ needs | new times call for new cpa firm metrics | partners have love-hate relationship with leadership | 6 things leaders must do | 8 financial ducks to line up now| partnership is about persuasion

so, how do you create a firm where all of the partners work to create an even better firm?

here are 11 ideas:

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14 smarter ways to use timesheet data

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ed mendlowitz cpa the practice doctor q and aif 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 practice doctor q&a: why more firms are trashing timesheets | how much overhead is too much? | when partners stop growing | clear billing procedures make collecting easier | change your thinking about ‘small’ clients | it’s not sales. it’s your duty | when staffers stagnate | when to hire an admin assistant | why the average fee doesn’t matter | 8 times when hourly billing trumps value pricing | 10 (nearly) painless ways to keep up to date with technology | 5 time management tips for an overworked accountant | running an accounting business | 14 ways to switch to value pricing

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 since they should not be the basis of any pricing, with fees solely based on the value to the client.

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5 harmful management attitudes (and how to fix them)

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how common management pitfalls hurt firms and employees.

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

how do attitudes, misconceptions and bad habits get in the way of our learning to be better managers?

related: do cpa firms need management or leadership? | job 1 for the practice owner: client management

here are five common attitudes, practices and perceptions we find:

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do cpa firms need management or leadership?

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differentiating between the two, and the two most common styles of management.

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

let’s start out with a straightforward question. what is the difference between management and leadership?

from one point of view, leadership is far different than management. for example, leadership might be all about developing a vision for the organization, being innovative, motivating others, empowering those around you, focusing on developing the people around you instead of just developing yourself, looking for positive ways to change, doing the right thing, and keeping the forest in view and not just see the trees.

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get radical about pricing

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two happy businessmen looking at digital tablet at desk in officeforget about measuring by time.

by jody padar
the radical cpa

“forget about pricing and think about what people buy.”

customers are not buying our time. they may be buying our expertise. but they’re really buying a solution to their problem. famed management consultant peter drucker says, “a customer never buys a product by definition, the customer buys a satisfac­tion. satisfaction of a want, he buys value.” he’s buying a good feeling.

more on radicalism: make radical connections | let’s get radical about content | each social channel has a language | get ready for radical transparency | 5 radical ways to be social and strategic | how social media transforms firms to their core | 10 radical steps into the cloud | six competitive advantages for the radical cpa | radical customers are on their way | 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical?

when lipstick leaves the manufacturer, it’s a solution. when it crosses the counter in a department store, it’s hope. from this perspective, how do we make our services into products or solutions? that’s essentially what you are doing with bundling and packages. you are productizing a service. read more →

make radical connections

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you don’t define your brand, your customers do. by jody padar the radical cpa social media is great for connecting with clients and prospects, but it also makes it easier to get published in the real media and that will … continued

how to combine two firms after merger: carefully

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when the deal is done: a 24-point checklist for the morning after.

by august aquila
creating the effective partnership

congratulations! after years of planning and months of tough negotiations, you’ve finally closed the deal on merger of your cpa firm.

you might be thinking the most difficult work is behind you.  think again! you now have to move your eye from the financial to the human side of the merger.

more for pro members: mirror, mirror on the wall  |  6 steps to handle staffing problems in a merger  |  new times call for new cpa firm metrics  |  6 reasons why cpa firms fail in innovation  |  7 signs your firm is headed for an implosion  |  why is it always about partner compensation?  |  why merge and what to watch out for  |  13 steps to fool-proof mergers and acquisitions  |  13 questions to ask yourself for personal growth  |  partner problem? first, ask yourself these 21 questions  |  12 reasons cpa firm staff meetings are a waste of time  |  the managing partner’s secret weapon in change management  |  the 10 basic ways to boost profits at an accounting firm  |  12 must-do items for your partner retreat agenda

your work in this area has just begun and may last for 12 months or more. the so-called soft side of doing a merger is just as important, if not more important, than the financial side. just like with an iceberg you don’t know what lies beneath the surface. just ask the captain of the unsinkable titanic. don’t let this same danger destroy your practice

in order to make sure your merger has a better than average chance of succeeding, here are 24 key items to be addressed: read more →