survey: the top 1040 scanning app
but some firms don’t use any at all.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
featured
4 top communication habits
show that you value your clients – and yourself.
by martin bissett
passport to partnership
want to be a partner? meet these 17 expectations
plus four super basics.
by marc rosenberg
the rosenberg practice management library
we’ve all heard the names given to various generations of people over the past century. the lost generation. the greatest (wwii) generation. the silent generation. baby boomers. gen x. millennials. gen z. though i don’t know of any studies on this, i’m quite sure that every generation of cpa firm ownership has complained – bitterly – about the younger generation.
more: five reasons not to make someone a partner | yes, you need another partner | what prospective partners should ask their firm | making partner: 15 steps to the buy-in | drive your profits with only four metrics
exclusively for pro members. log in here or 2022世界杯足球排名 today.
baby boomers and gen xers love to complain that today’s staff don’t want to be partners. they cite this as a major reason why it’s so difficult to bring in new partners.
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lease accounting hits hard
stream or download the episode. | follow 卡塔尔世界杯常规比赛时间 podcasts on apple here. | or paste this rss link into the podcatcher of your choice.
podcast: after a brief pandemic pause, new lease accounting rules will get very real in 2022.
with ane ohm
ceo, founder of leasecrunch
after a delay for the pandemic, new lease accounting rules are set to take effect in 2022 and too many firms and companies aren’t ready, ane ohn, founder and ceo of leasecrunch software tells 卡塔尔世界杯常规比赛时间.
these five procedures will simplify your tax season
of course, this includes checklists.
by ed mendlowitz
tax season opportunity guide
one way to guarantee extra work is to have everything always done differently each time it is done.
more: 11 steps to better client tax instructions | get your team ready for tax season
not establishing uniform procedures is bad business and unnecessarily consumes part of your life. consistency in performance reduces work and review time and creates a greater reliance on the staff people.
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clients who prefer obscurity
referrals are your best way to gain the trust and business of the super-rich.
by anthony glomski and russ alan prince
your $5-million high-net-worth practice
client-focused business development is fundamental. the everyone wins process is effective at every level of wealth. as we said, the everyone wins process is not only business-enhancing, it’s life-enhancing. so, if you are interested in working with the super-rich and with single-family offices, mastering the everyone wins process will serve you well.
more: four steps of stress testing | the smart way to handle financial products | three types of family offices for the wealthy | virtual workshops guide clients through covid | thought leadership is more precious than ever
on the other hand, you will need to make modifications to how you operate, including what you can deliver to these cohorts when it comes to your high-net-worth practice. an obvious example is that a single-family office will turn to you for all that most high-net-worth practices can deliver. this is extremely rare.
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12 shifts to ensure firm success
plus six ways the pandemic impacted the profession.
by jennifer wilson
every year, the rosenberg map survey asks the industry’s top consultants to share their observations of what they are seeing at cpa firms across the country.
more: how to reinvent the firm for the covid age | why it’s time for an acquisition | three ways the accounting profession has changed | ramping up for the year ahead
now that we are more than a year from the start of the pandemic, what do you feel are the long-term ramifications to the accounting industry?
there are many, but the most important impacts of the pandemic to the profession are: read more →
two tech approaches to cas
and one fundamental requirement.
by hitendra patil
the definitive success guide to client accounting services
client accounting services essentially requires an ability for your firm to be able to best serve the needs of all your clients.
more: when to start building your cas tech stack | stop derailing cas | lower your costs by 75% with cas | cas drives up demand for virtual cfos | turn client wants into needs | a job description for client accounting services
in other words, your firm’s technology stack, services, processes and pricing packages need to cater to businesses of different sizes, turnovers, as well as various levels of tech-savviness of the business owners and their employees. in yet other words, your firm should have the ability to do part of the accounting work or all the work your clients offload to your firm.
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rewarding partners for seniority: pros and cons
what best serves the firm?
by kristen rampe
in our work with cpa firms on partner compensation, we have asked countless partners what they think about various performance criteria and whether or not they should factor into a partner’s allocation of income. some examples of the performance criteria include firm management, business development, client service and billable hours. another criterion we ask about is seniority or tenure.
more: what if founders don’t want to buy each other out? | when cpa partner votes go wrong | when managing partners can’t | covid-19, adversity and innovation | is mandatory retirement a best practice?
some partners respond to our questionnaire indicating that seniority or tenure should be a factor in income allocation. many partners believe it has no place. so, who’s right?
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what sets your firm apart … if anything?
how to be different in a changing market.
by steven e. sacks
the new fundamentals
your firm conducts audits, prepares tax returns and offers some consulting services. yours is one of 42,000 non-big 4 firms in this country, a large majority of which offer the same three packages. firms in the same geographic market may not serve the same slate of industries, but through hiring niche expertise or merging in a firm can make inroads into the same markets.
more: why deadlines get missed | too busy? you may need to reprioritize | who needs another meeting? | the five big rules for powerpoint presentations
this happens frequently, making a competitive market even more crowded. the challenge that your firm faces is how do you show a real value-added distinction from the firms you compete against? differentiation does not mean a relaxed dress-code policy.
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do you ask the right questions to deepen client relationships?
uncover a client’s needs with good questions and even better listening.
by sarah johnson dobek
inovautus consulting
if you’re having the right conversations with your clients, new opportunities naturally come up where you can help them solve their issues beyond compliance.
related: eat that frog: asking for a prospect meeting | growing revenue through client service | business development and sales aren’t scary |
but while you may think you’re having excellent conversations; they’re probably just scratching the surface.
four steps of stress testing
check the bottom line.
by anthony glomski and russ alan prince
your $5-million high-net-worth practice
the everyone wins process is at the center of how you can maximize wealthy client relationships. most often, this is a function of aligning interests. the process is also core to generating new business from these clients and other professionals. the ability to add value often plays a significant role in being referred by other professionals to their best clients.
more: the smart way to handle financial products | three types of family offices for the wealthy | four ways to leverage your referral network | four qualities of the wealthy | it’s all about your wealthy clients
at the same time, there are many different ways to frame your conversations based on the self-interests of the wealthy to optimize their financial worlds and accelerate results. stress testing is one of those ways.
read more →
three keys to client file security
we were happy we had these when the irs and fbi came knocking.
by jody grunden
building the virtual cfo firm in the cloud
have you ever been contacted by the irs with the fbi involved? i can tell you from firsthand experience that it’s a bit alarming when that happens!
more: cybersecurity poses challenges for virtual firms | check the roi of new tools | a tech stipend for employees? why not? | why remote workers need retreats | better understanding = better communication
we were once contacted by the irs because they thought our server had been compromised. when the field officer who came to our office asked to see our server, we explained that we didn’t have a server.
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