prepare the next generation now
they will look to you for an example.
by martin bissett
business development on a budget
leadership
the ten financial controls that’ll make you a hero
what clients need to know.
by ed mendlowitz
77 ways to wow!
if you want your business to grow, don’t focus on only the easy financial controls where you can see quick results – such as holding down petty cash expenditures or checking expense accounts for accuracy.
more: rule #1: start with cash | organization minutes too often overlooked | the seven-minute financial statement | the kpi an absentee manager needs
exclusively for pro members. log in here or 2022世界杯足球排名 today.
instead, go for the tough steps that affect long-term profits and facilitate growth.
csr for cpas: the missing ingredient
`transformation talks: it all starts with transparency.
subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa)
transformation talks
with donny shimamoto, cpa, citp, cgma
center for accounting transformation
accountants have the power to change the world, according to james ross, the corporate responsibility and sustainability executive for buzzacott, one of the largest accounting firms in the united kingdom, in this interview with donny shimamoto.
more: secret to success? a growth and abundance mindset | o.d. lanier: stepping into advisory | from tax to transformation | early adopters gain an edge in audit | why the future is in risk advisory | four strategies for a future ready firm
“we want to walk the walk before we talk to talk,” ross says. “we don’t want to necessarily be delivering to clients something or an expectation that we’re not actually able to do ourselves. it’s just about being really honest about where you are in that process and continuing to take the next steps to improve more widely across the organization.”
eight things to stop doing now
sometimes work belongs in other hands.
by penny breslin
it’s not just the numbers
a firm we worked with in philadelphia has a dedicated administrative assistant for their teams.
more: keep the accountants focused on accounting | which kind of team do you have? | you don’t have to do everything | what do you want advisory services to be? | meet the new bos | why ai is not the enemy
she is not a bookkeeper. however, she is very organized and a dedicated team player. after she had been doing it for a while, i asked her what she now saw her function to be. her answer is: read more →
telling prospects too much
know when to stop.
by ed mendlowitz
202 questions and answers
q. i usually give away too much info at a meeting to get a new client. we simply answer too many of their questions during the initial meeting.
more: how to improve quality control | how to get into your own cpa practice | when not to charge for an initial consultation | what good managers know about bad judgment
we don’t know how much info to give away, so the possible new client will get hooked and not take the information and run to somebody else. usually, somebody else is cheaper.
how do i find the right balance?
rule #1: start with cash
lots of information is lurking there.
by ed mendlowitz
77 ways to wow! the checklist handbook for small-business advisory services.
one time i was asked to audit a hotel in florida that was going to be foreclosed on by the mortgagor and for which i was paid in advance. the audit was planned and scheduled, and it looked like we had everything under control from our end as much as we could.
more: organization minutes too often overlooked | five cash reports you can’t live without | when an audit is a great thing | which kpis do you need?
i received a call on a friday morning that the foreclosure was going to take place sooner than expected, and i had to either do my work monday through wednesday or return the retainer because the foreclosure was going to take place on thursday. i took a sunday evening flight with a senior accountant. when i walked into the hotel, i got really nervous. this was not a small motel but a big hilton hotel – not what i anticipated.
read more →
marketing: not just for partners anymore
let people at all levels show their strengths.
by bonnie buol ruszczyk
bridging the gap
firmwide initiatives that bridge generations aren’t limited to process refinements and lean-style efficiency efforts. dramatic changes in marketing have accompanied the digital revolution, and today’s most successful firms are embracing their new opportunities. marketing is yet another avenue for bringing together old and young firm members and enhancing mutual understanding as everyone works to benefit the firm’s growth.
more: how to close the generation gap | eliminate mystery through communication | leadership growth is a two-way street | how to encourage firm ownership | change when? continuously | win with an intentional culture | each generation must change
marketing in the accounting industry has an interesting, and fairly short, history. it is not unusual to find partners who still remember when it was against aicpa rules to advertise, market, directly solicit or even participate in competitive bidding. virtually non-existent for most of the 20th century, accounting marketing has evolved at a rather slow pace even since the rules were changed with the bates ruling in 1978.
read more →
keep the accountants focused on accounting
checklist: the 10 questions you need to ask.
by penny breslin
it’s not just the numbers
i’ve developed a series of questions to assess someone’s aptitude for being on a team. each person in your firm who is a possible member of the back office support (bos) team needs to answer these questions. that includes you, as you are a potential team member.
more: which kind of team do you have? | you don’t have to do everything | what do you want advisory services to be? | meet the new bos | why ai is not the enemy
ask others in your firm or people you work with outside your firm to give you feedback on these questions as they see you and the other potential members of your team. their responses will give you a second filtering of your potential as well as others you would like on your team. notice these are not questions relating to the competencies in accounting functions. the assumption is that you and your people already possess those skills.
read more →
how to improve quality control
your reviewer should be adding value.
by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set
q. i want to improve my firm’s review and quality control. do you have any suggestions?
more: how to get into your own cpa practice | 15 tips for novice managers | 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
a: this is a recurring issue for most firms. every cpa practice needs quality control. the issue is whether a dedicated quality control (“qc”) person is needed, and if not, how the qc can be done without one.
read more →
organization minutes too often overlooked
we’ve got a 34-point checklist to fix that.
by ed mendlowitz
77 ways to wow! the checklist handbook for advisory services.
corporate, llc, partnership and not-for-profit organizations are usually required to have minutes memorializing certain actions taken by the board of directors or governing body. yet, many do not either because it has never been done, is a bother, is considered not necessary or overlooked through inaction or unawareness.
more: five cash reports you can’t live without | the priorities were backward | how to read a financial statement | 77 thoughts about client needs
however, it is something that should be done as a best practice, as recognition that there are non-active stakeholders who need transparency, or as tangible evidence that the actions recorded took place timely. in some instances, the irs looks for minutes as a symbol that the affairs were handled on a businesslike basis or were not one-sided “secret” actions by those in control.
read more →
the two sides of the culture coin
and how they relate to strategy.
by anthony zecca
leading from the edge
as we focus on the leadership of accounting firms need to succeed in a future driven by seismic disruptors, we must address leadership’s responsibility, and impact on creating a culture that results in an environment that motivates every single team member to their highest level of performance.
more: four accountability steps for firm success | how to build a standout team | five keys to becoming a high-performing firm | assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success | do you lead or just manage? | managing vs. leading | is your leadership team at the edge? | 6 leadership challenges through covid and beyond | edge leaders share 7 strengths | leadership must drive culture | leading from the edge
there are two great quotes that i would like to start with to frame this discussion. the first is from bryan walker (partner and managing director at ideo), who stated that “culture is like the wind. it is invisible; yet its effect can be seen and felt” in every single organization that exists from the family to the biggest company on the planet. the second quote is from author tanya mann: “your organization’s culture is either an asset or a liability; either helping business performance or hurting it.”
read more →
how to fire a client
bonus: sample client disengagement letter.
by sandi leyva and michelle long
how many clients have you fired?
more small firm growth strategies: what to do when a client doesn’t pay | the dreaded ‘quick question’ | how to handle referrals – and how not to | why clients need dashboards | five ways to raise your prices | your existing clients are your best leads | need more business? focus on referrals
let’s talk about firing a client because sometimes you do need to fire your client. maybe they’re difficult to work with, or a guy is belligerent and loud and yells, and you don’t want to work for him. maybe there are ethical issues.
read more →
how to get into your own cpa practice
bonus: 14 tips on getting your first clients.
by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set
q: i am working for a cpa firm, but would like to get into my own practice. can you give me some suggestions?
more: 15 tips for novice managers | why no one listens to you | how to stop yourself | how to handle referrals with attorneys | why checklists? | thirteen things to know before selling your practice
a: essentially, you have three options (four if you count my pet project, but i won’t belabor it).
read more →