{"id":54743,"date":"2023-06-01t00:01:11","date_gmt":"2023-06-01t04:01:11","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?post_type=product&#038;p=54743"},"modified":"2024-10-29t14:33:02","modified_gmt":"2024-10-29t18:33:02","slug":"what-really-makes-cpa-firms-profitable","status":"publish","type":"product","link":"\/\/www.g005e.com\/shop\/what-really-makes-cpa-firms-profitable\/","title":{"rendered":"what really makes cpa firms profitable?"},"content":{"rendered":"<h6 style=\"text-align: center;\"><span style=\"color: #808080;\">links to download your downloads will appear on the order confirmation screen after purchase and in your email receipt from auto-confirm@www.g005e.com.<br \/>\n<\/span><span style=\"color: #808080;\">* rosenberg pdfs are read-only \u2013 no printing, markup, reproduction, or further distribution. downloadable to five personal devices within 90 days of purchase.<\/span><\/h6>\n<blockquote>\n<h3><strong><span style=\"color: #0056a6;\">don\u2019t ask a cpa what profitability means<\/span><\/strong><\/h3>\n<p>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.<\/p>\n<p>surely you\u2019ve heard the story, perhaps apocryphal, of the company that was interviewing for a new cpa firm. only one question was asked of each candidate: \u201chow much is two plus two?\u201d the firm that won the bid gave the answer, \u201chow much would you like it to be?\u201d<\/p>\n<p>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.<\/p><\/blockquote>\n<hr \/>\n<h3 style=\"text-align: center;\"><strong><span style=\"color: #0056a6;\">including the latest benchmarks from the <span style=\"text-decoration: underline;\"><a style=\"color: #0056a6; text-decoration: underline;\" href=\"\/\/www.g005e.com\/shop\/map-survey\/\">rosenberg map survey<\/a><\/span><\/span><\/strong><\/h3>\n<hr \/>\n<figure id=\"attachment_112145\" class=\"thumbnail wp-caption alignright\" style=\"width: 450px\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-112145\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am-424x676.png\" alt=\"\" width=\"450\" height=\"717\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am-424x676.png 424w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am-849x1353.png 849w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am-768x1224.png 768w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am-964x1536.png 964w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am-300x478.png 300w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am-600x956.png 600w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/screenshot-2023-06-02-at-5.13.17-am.png 1004w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><figcaption class=\"caption wp-caption-text\"><strong>add the toolkit.<\/strong> get the worksheets.<\/figcaption><\/figure>\n<h3><span style=\"color: #0056a6;\"><strong>newly added to the second edition<\/strong><strong>:<\/strong><\/span><\/h3>\n<ul>\n<li><strong>debunking over-reliance on partner income<\/strong> as a percent of revenue as a measure of profitability.<\/li>\n<li><strong>how a firm\u2019s culture affects profitabilit<\/strong>y in a big way.<\/li>\n<li><strong>how adopting best practices for managing staff\u00a0<\/strong>has a huge impact on profitability.<\/li>\n<li><strong>pricing practices that add more dollars<\/strong>\u00a0to your bottom line and streamline your client list.<\/li>\n<li><strong>increasing profitability with mergers.\u00a0<\/strong>why hundreds of firms acquire several firms every year.<\/li>\n<li><strong>how the selection of the firm\u2019s partner compensation system impacts profitability<\/strong>\u00a0in ways that few realize.<\/li>\n<li><strong>expanded list of the 25 all-time best practices<\/strong>\u00a0for cpa firms.<\/li>\n<li><strong>what\u00a0<em>doesn\u2019t<\/em> increase profitability.<\/strong><\/li>\n<\/ul>\n<h3><span style=\"color: #0056a6;\"><strong>more hot topics:<\/strong><\/span><\/h3>\n<ul>\n<li>the essence of cpa firm profitability<\/li>\n<li>accountability and acting like a partner<\/li>\n<li>cpa firm benchmarking<\/li>\n<li>marketing and the bottom line<\/li>\n<li>strong management and leadership: the most reliable path to profitability<\/li>\n<li>other ways to improve profitability<\/li>\n<li>25 best practices that move firms from good to great<\/li>\n<li>what doesn\u2019t seem to be important to firm profitability<\/li>\n<li>partner relations: happy partners are productive partners<\/li>\n<li>40 great ways to improve cpa firm profitability<\/li>\n<\/ul>\n<hr \/>\n<blockquote>\n<h3><span style=\"color: #0056a6;\"><strong>from the introduction<\/strong><\/span><\/h3>\n<p>&#8220;if your firm is not profitable today, there are no easy ways to turn things around. there are few quick fixes. many of the ideas we\u2019ll present embrace concepts that you may already be familiar with. properly applied, they work. some work better than others, and some techniques are preferable to others, depending upon your firm\u2019s current situation. but they do work.<\/p>\n<p>the approaches suggested are based on my experiences working with over 700 firms. the ideas presented here are not merely my suggestions; they are the techniques being used by the most profitable and successful firms in this country.&#8221;<\/p>\n<p><em>\u2013 marc rosenberg, cpa<\/em><\/p><\/blockquote>\n<hr \/>\n<h3><span style=\"color: #0056a6;\"><strong>table of contents<\/strong><\/span><\/h3>\n<p style=\"padding-left: 40px;\"><strong>1.\u00a0 the essence of cpa firm profitability<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>what does profitability mean?<\/li>\n<li>don\u2019t ask a cpa what profitability means<\/li>\n<li>a deep dive on partner income as a percentage of fees<\/li>\n<li>beware of lubrm to measure profitability<\/li>\n<li>no recipes available, but here are some tasty morsels<\/li>\n<li>an elementary economics lesson<\/li>\n<li>a final word on what drives cpa firm profitability<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>2. strong management and leadership<\/strong><\/p>\n<figure id=\"attachment_112146\" class=\"thumbnail wp-caption alignright\" style=\"width: 500px\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-112146\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/slide1-424x848.png\" alt=\"\" width=\"500\" height=\"1000\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/slide1-424x848.png 424w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/slide1-768x1536.png 768w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/slide1-300x600.png 300w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/slide1-600x1200.png 600w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/slide1.png 800w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><figcaption class=\"caption wp-caption-text\"><strong>what really makes cpa firms profitable:<\/strong> page after page of benchmarks, checklists, worksheets, sample letters, stats, ratios, best practices, pricing guides, and more.<\/figcaption><\/figure>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>the most reliable path to profitability<\/li>\n<li>the proper management structure<\/li>\n<li>managing partner role<\/li>\n<li>other essential roles<\/li>\n<li>the value of strategic thinking<\/li>\n<li>the importance of culture<\/li>\n<li>the 25 best practices that transform good firms into great firms<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>3. how benchmarking boosts profits<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>cpa partners often operate in a cocoon<\/li>\n<li>benefits of benchmarking in a nutshell<\/li>\n<li>benchmarking is a three-step process<\/li>\n<li>numbers don&#8217;t lie<\/li>\n<li>10 key metrics benchmarks for cpa firms<\/li>\n<li>the 10 biggest mistakes in benchmarking<\/li>\n<li>benchmarking statistics for cpa firms<\/li>\n<li>pay attention to these benchmarking metrics<\/li>\n<li>cpa firms make more money when partners do less billable work<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>4. increasing profitability with effective staff management<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>your staff: a major factor in success and profitability<\/li>\n<li>advice from jack welch<\/li>\n<li>staff best practices<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>5. increasing profitability with growth and business development<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\u201cyou can\u2019t not try\u201d<\/li>\n<li>best marketing practices<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>6. increasing profitability with partner compensation systems<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>you get what you reward<\/li>\n<li>using your partner compensation system to increase profits<\/li>\n<li>so now what do you think?<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>7. increasing profitability with pricing<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>do higher rates equal lower realization?<\/li>\n<li>some clients may leave, and that\u2019s ok<\/li>\n<li>dealing with pushback on prices<\/li>\n<li>evaluating your client list<\/li>\n<li>sample letter for increasing fees<\/li>\n<li>value positioning: questions to ask prospects<\/li>\n<li>menu, fixed fee and value pricing<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>8. increasing profitability with mergers<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>the merger frenzy<\/li>\n<li>merger definitions<\/li>\n<li>how do mergers increase profitability?<\/li>\n<li>merger terms that lead to increased profitability for buyers<\/li>\n<li>do mergers work?<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>9. partner relations<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>happy partners are productive partners<\/li>\n<li>call me now or call me later<\/li>\n<li>partner collegiality vs. accountability: can\u2019t we have both?<\/li>\n<li>pick your partners right to begin with<\/li>\n<li>know when to stay together and when to part<\/li>\n<li>communication<\/li>\n<li>conflict resolution<\/li>\n<li>health and psychological issues<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>10. the strong link between partner accountability and profitability<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>the \u201ca\u201d word in practice management<\/li>\n<li>ten time-tested partner accountability measures<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>11. other ways to improve profitability<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>what isn\u2019t as important to profitability as some people think<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong>12. 50 great ways to improve profitability<\/strong><\/p>\n<hr \/>\n<p><a href=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/free-preview-what-really-makes-cpa-firms-profitable-mr22prof-cpatrendlines-v20230601f.pdf\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-54360 size-full aligncenter\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2018\/04\/button_download-the-free-preview.png\" alt=\"\" width=\"482\" height=\"51\" srcset=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2018\/04\/button_download-the-free-preview.png 482w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2018\/04\/button_download-the-free-preview.png 300w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2018\/04\/button_download-the-free-preview-424x45.png 424w\" sizes=\"auto, (max-width: 482px) 100vw, 482px\" \/><\/a><\/p>\n<h5 style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><a href=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/free-preview-what-really-makes-cpa-firms-profitable-mr22prof-cpatrendlines-v20230601f.pdf\">click here to peek inside the handbook<\/a><\/span><\/h5>\n<hr \/>\n<h3 style=\"padding-left: 40px;\"><span style=\"color: #0056a6;\"><strong>about the authors<\/strong><\/span><\/h3>\n<div class=\"fl-module fl-module-heading fl-node-kvqezxnmj71d\" data-node=\"kvqezxnmj71d\">\n<div class=\"fl-module-content fl-node-content\">\n<figure id=\"attachment_112142\" class=\"thumbnail wp-caption alignright\" style=\"width: 201px\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-112142 size-thumbnail\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-201x201.jpg\" alt=\"\" width=\"201\" height=\"201\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-201x201.jpg 201w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-424x424.jpg 424w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-300x300.jpg 300w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-100x100.jpg 100w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-24x24.jpg 24w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-48x48.jpg 48w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-96x96.jpg 96w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug-150x150.jpg 150w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/marc-rosenberg-2022-headshot-mug.jpg 600w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><figcaption class=\"caption wp-caption-text\">rosenberg<\/figcaption><\/figure>\n<h4 class=\"fl-heading\" style=\"padding-left: 80px;\"><strong><span class=\"fl-heading-text\"><span style=\"color: #0056a6;\">marc rosenberg cpa<\/span><\/span><\/strong><\/h4>\n<h5 class=\"fl-heading\" style=\"padding-left: 80px;\">managing partner<\/h5>\n<\/div>\n<\/div>\n<div class=\"fl-module fl-module-fl-post-content fl-node-u2vgql97fmnr\" style=\"padding-left: 40px;\" data-node=\"u2vgql97fmnr\">\n<div class=\"fl-module-content fl-node-content\" style=\"padding-left: 40px;\">\n<p><strong>marc rosenberg<\/strong> is a nationally known consultant, author and speaker on cpa firm management, strategy and partner issues. managing partner of the chicago-based consulting firm, rosenberg associates, he is the founder of the most authoritative annual survey of mid-sized cpa firm performance statistics in the country, the rosenberg survey. he has consulted with more than 1,000 firms throughout his decades-long consulting career.<\/p>\n<p>annually recognized by accounting today as one of the top 100 most influential people, rosenberg regularly contributes to leading industry publications.<br \/>\nhe is best known as the author of his acclaimed practice management series\u2014a compilation of knowledge and experience amassed throughout his consulting career on key topics pertinent to cpa practice management.<\/p>\n<p>rosenberg is a graduate of the university of illinois.<\/p>\n<p>contact: marc@rosenbergassoc.com | +1.847.721.4888 |\u00a0<span style=\"text-decoration: underline; color: #0056a6;\"><a style=\"color: #0056a6; text-decoration: underline;\" href=\"\/\/www.g005e.com\/author\/rosenberg\/\">see more marc rosenberg at 卡塔尔世界杯常规比赛时间 here<\/a><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #ffffff;\">.<\/span><\/p>\n<figure id=\"attachment_112141\" class=\"thumbnail wp-caption alignright\" style=\"width: 201px\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-112141\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-201x201.png\" alt=\"\" width=\"201\" height=\"201\" srcset=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-201x201.png 201w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-300x300.png 300w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-100x100.png 100w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-24x24.png 24w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-48x48.png 48w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-96x96.png 96w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug-150x150.png 150w, \/\/www.g005e.com\/wp-content\/uploads\/2023\/06\/kristen-rampe-2022-headshot-mug.png 396w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><figcaption class=\"caption wp-caption-text\">rampe<\/figcaption><\/figure>\n<h4><span style=\"color: #0056a6;\"><strong>kristen rampe cpa<\/strong><\/span><\/h4>\n<h5>managing partner<\/h5>\n<p><strong>kristen rampe<\/strong> is a nationally known consultant to cpa firms and a frequent speaker at practice management conferences. she specializes in helping small to mid-sized firms with partner compensation, partner agreements, buyouts, strategic planning and leadership development. in 2016, rampe began working with marc rosenberg on practice management projects, and in 2022 they joined their consulting practices together as rosenberg associates.<\/p>\n<p>rampe spent ten years in public practice with big 4 powerhouse pwc, and top-50 ranked frank rimerman in san francisco before founding her consulting practice in 2011. she has been named a woman to watch by the california society of cpas, 40 under 40 by cpa practice advisor, and top 100 most influential people by accounting today.<\/p>\n<p>rampe holds an active cpa license with the state of california. she has been featured in fortune and investor\u2019s business daily. she is also the co-author of the role of the managing partner along with marc rosenberg. rampe is a graduate of butler university.<\/p>\n<p>contact: kristen@rosenbergassoc.com | +1.616.219.0375 |<span style=\"color: #0056a6;\">\u00a0<span style=\"text-decoration: underline;\"><a style=\"color: #0056a6; text-decoration: underline;\" href=\"\/\/www.g005e.com\/author\/rampe\/\">see more kristen rampe 卡塔尔世界杯常规比赛时间 here.<\/a><\/span><\/span><\/p>\n<\/div>\n<\/div>\n<h4><\/h4>\n<h4 style=\"text-align: center;\"><span style=\"text-decoration: underline; color: #0056a6;\"><a style=\"color: #0056a6; text-decoration: underline;\" href=\"\/\/www.g005e.com\/product-category\/marc-rosenberg\/\">complete your marc rosenberg practice management collection here.<\/a><\/span><\/h4>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n","protected":false},"excerpt":{"rendered":"<h3><em><span style=\"color: #0056a6;\"><b>the complete guide to maximizing margins, earnings, and net income<\/b><\/span><\/em><\/h3>\n<h4><span style=\"color: #d8232a;\"><strong>new! expanded. updated. the second edition!<\/strong><\/span><\/h4>\n<h3><span style=\"color: #0056a6;\"><strong><i>by marc rosenberg, cpa, with kristen rampe, cpa<\/i><\/strong><\/span><\/h3>\n<p>based on experiences with more than 1,000 cpa firms across the country, this updated, greatly expanded book summarizes 40 powerful techniques to maximize profitability.<\/p>\n<p>included: key benchmarks from the rosenberg practice management survey, the indispensable reference guide for financial and operating statistics at accounting firms of every size, <a href=\"\/\/www.g005e.com\/shop\/map-survey\/\">available here.<\/a><\/p>\n<h3><span style=\"color: #d8232a;\"><em><strong>new bonus toolkit<\/strong><\/em><\/span><\/h3>\n<h4><span style=\"color: #0056a6;\"><strong>a dozen high-impact worksheets<\/strong><\/span><\/h4>\n<p>upgrade your order with our proprietary toolkit: a dozen key printer-friendly pdf documents you can put to work immediately with your leadership group, including:<\/p>\n<ul>\n<li>the 10 biggest mistakes in benchmarking<\/li>\n<li>sample letter for increasing fees<\/li>\n<li>value positioning: questions to ask<\/li>\n<li>top 50 profitability tactics<\/li>\n<li>key statistics and ratios: by geographic region, annual fees, size of market, etc.<\/li>\n<\/ul>\n<p><span style=\"color: #d8232a;\"><b><i>free u.s. shipping by priority 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