edward mendlowitz, author at 卡塔尔世界杯常规比赛时间 - page 15 of 55

15 tips for novice managers

how to prioritize instead of juggle.

by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set

q: my boss asked me to call you.

i am a staff accountant with five years experience. i am having a lot of stress trying to manage everything i have to do. i am juggling supervising people i don’t know how to supervise, being managed less by those above me and having to figure out more for myself – including things i never did before or in industries i never worked on previously, keeping current with changes in accounting rules and taxes (since i am more like a generalist and clients ask me everything), never seeming to have any free time, juggling my schedule because most of my clients are never ready when they say they will be and being accountable to my boss for everything i do plus what the staff working under me does.

more: when not to charge for an initial consultation | what’s your ‘kg’ value? | when clients call you at home | how to handle referrals with attorneys | why checklists? | thirteen things to know before selling your practice
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so how do i do it all? how can i prioritize all my responsibilities?
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management

the priorities were backward

what is the worst thing that could happen?

by ed mendlowitz
call me before you do anything: the art of accounting

when i was a junior accountant an eon ago, my boss would always give me the cash to reconcile or audit, the minutes to “abstract,” and the internal control questionnaire to go over with the controller or bookkeeper.

more: the seven-minute financial statement | when an audit is a great thing | how to read a financial statement | the kpi an absentee manager needs | which kpis do you need? | 77 thoughts about client needs
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then when i became a manager, i continued this practice of having lower-level staff perform these procedures. i now consult with many accounting firms and find it is still being done that way. i stopped it many years ago and wonder why it’s still widespread.
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management

why no one listens to you

how long are you talking?

by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set

q: i notice that most of the time my staff doesn’t listen when i talk. how can i make them listen?

more: when not to charge for an initial consultation | what’s your ‘kg’ value? | when clients call you at home | why partner retreats are worth the cost | selling your practice is not a retirement strategy
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a: err, what did you say?

just kidding! i find this issue very widespread. i believe there is an epidemic of people not listening, not just staff.
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management

when not to charge for an initial consultation

bonus: a sample initial business valuation consultation engagement proposal.

by ed mendlowitz
202 questions and answers: the complete 2-volume set

q: i was wondering what your thoughts are regarding initial consultation fees. currently, i do not charge a fee for an initial consultation, and it seems that most cpas do not charge either (at least not the sole practitioners that i know).

more: what’s your ‘kg’ value? | how to stop yourself | how to handle referrals with attorneys | why checklists? | thirteen things to know before selling your practice
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would the fee deter new clients or actually weed out the ones who are most likely not going to become clients anyway? if a fee is charged, then how much, and how long should the consultation last? should the fee be applied to any work that i am eventually engaged to do?

a: there seems to be a toss-up between two different philosophies:

advisory & consulting

the seven-minute financial statement

don’t skip the notes.

by ed mendlowitz
77 ways to wow!

how do you start reviewing a financial statement? like any good book, you must start at the beginning.

more on advisory: when an audit is a great thing | how to read a financial statement | the kpi an absentee manager needs | which kpis do you need? | 77 thoughts about client needs
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but where is the beginning? and how can you do it in only seven minutes? here is how …
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growth strategies

what’s your ‘kg’ value?

the quick and easy system for measuring top talent.

by ed mendlowitz
202 questions and answers

q: i suspect that my partner has “maxed out” and cannot grow further, which will retard our growth. what can i do or how can i deal with this?

more: how to stop yourself | what good managers know about bad judgment | audit reports without doing the work? | ask these 10 questions before adding financial services | 10 reasons clients don’t pay
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a: this is a frequent question, and sometimes it is the person asking it who has “maxed out.” but sometimes the partner or a key staff member wants to be made a partner.

i developed a knowledge gap (“kg”) method to provide a way of measuring the difference in growth when you interact with people.

advisory & consulting

when an audit is a great thing

bonus breakdown: audits vs. reviews vs. compilations.

by ed mendlowitz
77 ways to wow!

one of my clients generously gave me his take on the benefits he received from the audited financial statements we issued for him. i was appreciative of this and want to share his views with you.

more on advisory: how to read a financial statement | the kpi an absentee manager needs | which kpis do you need? | 77 thoughts about client needs | the seven-minute financikal statement
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he began with an introduction explaining how he started his business and shepherded its growth by concentrating on developing his services and delivering them quickly and on time to his clients. the business grew rapidly, and little time was spent on the recordkeeping except for getting invoices to the clients or making payroll, while keeping the back office as lean as he could. at the same time there were legal, regulatory, hr, occupancy and tax issues from operating in multiple states and countries and he was spending quite a lot of time and fees on these activities, because he had to, while pushing aside and neglecting the accounting work.
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management

how to stop yourself

or not! but be conscientious about it.

by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set

q: sometimes i get stuck doing work that the client did not ask me to do, that is not chargeable and simply a waste of time, but i get trapped (by myself).

more: what good managers know about bad judgment | when clients call you at home | why partner retreats are worth the cost | selling your practice is not a retirement strategy
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any words of wisdom to avoid this?

advisory & consulting

how to read a financial statement

fifty pages of notes? review them all.

by ed mendlowitz
77 ways to wow!

publicly traded companies are required to issue audited financial statements annually. there are seven parts of the statements that are briefly described here in the usual order they are presented:

more on advisory: when an audit is a great thing | the kpi an absentee manager needs | which kpis do you need? | 77 thoughts about client needs | the seven-minute financikal statement
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1. report of independent registered public accounting firm. this provides their opinion that the financial statements were in conformity with u.s. generally accepted accounting principles (gaap); that the company maintained effective internal controls; that the audits were conducted in accordance with standards of the u.s. public company accounting oversight board (pcaob) and some other things and that their audits provided a reasonable basis for their opinion; and that the internal control may not prevent or detect fraud. this needs careful reading and understanding, as do all seven elements of the statement, but on some level, this type of report is the gold standard for public companies.
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client service opportunities

what good managers know about bad judgment

yes, you can teach staffers how to make better decisions. here’s how.

by ed mendlowitz
202 questions and answers

q: recently, a colleague asked me, “how do you teach judgment?” and before i could respond, he answered it himself with, “you can’t teach judgment!”

more: when clients call you at home | how to handle referrals with attorneys | why checklists? | thirteen things to know before selling your practice | 10 reasons clients don’t pay
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a: everyone working for you has and uses judgment – they have homes, families, organizations they belong to, and they manage their careers. each of these requires exercising judgment many times a day. they all have judgment.
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advisory & consulting

the kpi an absentee manager needs

psst … you might be that absentee and not know it.

by ed mendlowitz
77 ways to wow!

the author contends that almost every business owner or manager is an absentee owner or manager, regardless of the amount of time they spend at their business.

more on advisory: when an audit is a great thing | how to read a financial statement | which kpis do you need? | 77 thoughts about client needs | the seven-minute financikal statement
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while many are ever-present either physically or virtually by phone, texts and emails, they are not managing but rather working in their business on what needs to be done at that moment or that day. they are responding to normal business routines; customer, supplier and personnel requests or problems; and myriad other situations that demand their time, such as banking relationships, cash flow planning, hr issues including hiring, discharging and compliance, interactions with outside professionals, including their attorneys and accountants, and regulatory and occupancy issues. some have partner issues and if they are managing a not-for-profit organization, then board and possibly funding and development issues. they are functioning as a necessary and essential employee and are not really running the business or organization – as if they were not there or were in another part of the country.
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client service opportunities

when clients call you at home

consider privacy issues.

by ed mendlowitz
managing an accounting practice, the complete 2-volume set: 202 questions and answers:

q: i try to respond quickly to my clients’ calls and emails, but now they even call me at home. what can i do about this?

more: how to handle referrals with attorneys | audit reports without doing the work? | ask these 10 questions before adding financial services | 10 reasons clients don’t pay
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a: you told me you have an office and also give your clients your cell number to use. you also told me that you carry a smartphone and told your clients you prefer emails and can respond quicker to them. you also told me you get many compliments on your responsiveness.
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advisory & consulting

how to expand into business valuation

bonus checklist: 47 types of bv services.

by ed mendlowitz
managing an accounting practice: 202 questions and answers

q: i am exploring the business valuation credential as a way to expand our practice. i’m still (relatively) young to the profession and would (i think) love to expand into this niche area.

more: how to handle referrals with attorneys | audit reports without doing the work? | ask these 10 questions before adding financial services | 10 reasons clients don’t pay
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a few things:

we don’t do any bv now so my ability to acquire the abv credential would be difficult without the experience aspect.

edward mendlowitz

more at store.m.g005e.com

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edward mendlowitz, cpa, abv, pfs, is a partner at withum, a forward-thinking, technology-driven advisory, and accounting firm. ed has over 40 years of public accounting experience, is recognized as one of the top 100 most influential people in accounting by accounting today, and is the 卡塔尔世界杯常规比赛时间 "practice doctor." his latest handbook for 卡塔尔世界杯常规比赛时间 is 77 ways to wow! the handbook for small-business advisory services.

ed is also the author of "memoirs of a cpa," available at amazon.

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"memoirs" tells his story as a cpa and provides an inside look at what cpas do and how they run their accounting "business." cpas must serve clients effectively and exceptionally, recruit, train, retain and grow staff, and charge fees that clients happily pay because of the value they receive while the cpa earns a living, funds a retirement account, grows infrastructure, and perhaps makes a profit. this book tells how he did all of this and much more.

more ed mendlowitz in the 卡塔尔世界杯常规比赛时间 store:

he is a licensed, certified public accountant in the states of new jersey and new york and is accredited by the american institute of certified public accountants (aicpa) in business valuation (abv), certified in financial forensics (cff) and as a personal financial specialist (pfs). ed is also admitted to practice before the united states tax court and has testified as an expert witness in federal and state court regarding business valuations, and twice at the house ways and means committee on tax reform, fairness, and reduction. a city college of new york graduate, ed earned his bachelor of business administration degree.

he is a member of the aicpa, the new jersey society of certified public accountants (njscpa) and the new york state society of certified public accountants (nysscpa). in addition, ed was a founding partner of mendlowitz weitsen, llp, cpas, which merged with withum in 2005. currently, he serves on the nysscpa estate planning committee and was chairman of the committee that planned the nysscpa’s 100th anniversary. ed, the author of 19 books, has also written hundreds of articles for business and professional journals and newsletters.

he is the contributing editor to the practitioners publishing company’s 706/709 deskbook, the aicpa’s management of an accounting practice handbook, corporate controller’s handbook and wiley’s handbook on budgeting and is on the editorial board of bottom line/personal newsletter and the journal of accountancy member panel on business valuation. appearing regularly on television news programs, ed has also been quoted in numerous major newspapers and periodicals in the united states. he received the lawler award for the best article published in 2001 in the journal of accountancy.

ed frequently speaks to many professional and business groups, including the aicpa, njscpa, nysscpa, american management association, the national committee for monetary reform, the university of medicine and dentistry in n.j., and many more. for 11 years, he taught courses on financial analysis, corporate financial policy and theory, monetary and fiscal policy, and managerial accounting in the mba program at fairleigh dickinson university.

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