1 in 6 firms have no formal, written exit plans in place.
by marc rosenberg
retirements & buyouts
despite the clear, substantial value of a cpa firm, roughly 15% of multi-owner cpa firms – mostly firms with up to four partners – do not have a formal, written partner retirement plan. why? read more →
do it wrong and your firm could lose a pile of money.
by marc rosenberg
retirements & buyouts
partners have a natural tendency to view the firm’s partner retirement plan as a personal savings plan, but that’s not how these plans work. cpa firm retirement plans are quite different. read more →
apparently, they’re worth it.
by marc rosenberg
retirements & buyouts
an ample supply of willing buyers is a critical factor that strengthens and confirms the value of any asset, let alone a cpa firm. virtually every firm, from sole practitioners to the top 100, is eager to acquire a smaller firm. why is this? read more →
look at the revenue stream. goodwill is another story.
by marc rosenberg
retirements & buyouts
to illustrate a cpa firm’s value, let’s use an example of a plain-vanilla or average firm:
now, let’s compute the value.
developing successful strategies for changing expectations.
by marc rosenberg
cpa firm retirements & buyouts
the concept of retirement for cpas is rather amusing.
younger partners (say, under 40) insist with unshakable confidence that the oldest they will ever work is 50 or 55. they have other things to do with their lives (own another business, do charity work, pursue hobbies, etc.) besides working at a cpa firm and they want to pursue these interests while still young.
older partners (say, over 55) see themselves working indefinitely, with 65 being the earliest age that they will even consider retiring. read more →
the u.s. tax, accounting and bookkeeping industry remains a bright spot in the nation’s economy, according to 卡塔尔世界杯常规比赛时间 sources.
here 卡塔尔世界杯常规比赛时间 reports on:
overall, the u.s. economy added 142,000 jobs last month, 47,000 of them in professional and business services. meanwhile, the unemployment rate was little changed at 6.1 percent.
卡塔尔世界杯常规比赛时间 careers and hiring outlook
job satisfaction and retention benchmarks
firms now recovered about 9 in 10 jobs lost in financial collapse.
by 卡塔尔世界杯常规比赛时间
the u.s. tax, accounting and bookkeeping industries have recovered nearly 89 percent of the jobs lost in the economic crisis, according to 卡塔尔世界杯常规比赛时间 sources.
卡塔尔世界杯常规比赛时间 careers and hiring outlook
job satisfaction and retention benchmarks
here 卡塔尔世界杯常规比赛时间 reports on:
the u.s. economy as a whole added 209,000 jobs in july. in addition to the growth of 47,000 jobs in professional and business services, increases were seen in the manufacturing, retail trade and construction sectors. the unemployment rate remained stable at 6.2 percent, down from 7.3 percent a year earlier. read more →
16 ways to tweak your compensation systems to get and keep the right clients.
if your partners are putting up a fight to keep clients who should be let go, take a look at your compensation system. it’s not just about billable hours.
august aquila, creating the effective partnership, suggests 16 tweaks to your firm’s compensation system. while the list is not exhaustive, it does provide criteria that firms can consider beyond revenue. read more →
the compensation trap that turns winners into losers.
by august aquila
creating the effective partnership
the focus on most cpa firms is on billable hours. while there is nothing inherently wrong with this focus, it has become the overriding focus of firms.
there is nothing wrong with making money today, but what about building for the future? with “today” being the dominant focus, what is the encouragement to cpas to innovate? in most firms there is no alignment with innovation and compensation.
you will never have innovation unless you allocate some time and reward to making it happen. read more →
readers’ forum: hours worked. firing clients. setting prices.
the 9 essential elements for a successful partner comp plan.
by robert j. lees and august j. aquila
creating the effective partnership
every compensation plan should be constructed to help the firm achieve its strategic goals, including servicing its clients and attracting and retaining the right people. read more →
the u.s. tax, accounting and bookkeeping industries are turning out to be one of the brightest spots in the nation’s economy, adding jobs faster than all but a handful of sectors, according to 卡塔尔世界杯常规比赛时间 sources.
here 卡塔尔世界杯常规比赛时间 reports on:
how to create a fair and effective comp plan that unites partners and pushes the firm forward.
by robert j. lees and august j. aquila
creating the effective partnership
the right partner performance bonus plan encourages and rewards partners for achieving firm, team and individual goals, enabling the partners to see a clear cause-and-effect relationship between what they do, what it means to the firm and how they get rewarded.
unfortunately, in too many firms, partners can’t see these linkages. the compensation system is a failure.
consider, for a moment, these six questions for your firm: read more →