what a managing partner is… and is not

why some firms decide they don’t want a true managing partner.

by marc rosenberg, cpa
author of cpa firm management and governance

over the years, i have found that many firms lack a clear understanding of what a managing partner is.  often, it’s a negative conception, caused by a bad experience at their current firm or a previous one.  so, to avoid a repeat of these bad experiences, the partners decide either not to have a mp or to provide for the mp position with greatly limited authority and responsibility.

marc rosenberg
marc rosenberg

more on cpa firm leadership and management: when is it time to shift your firm from partnership-style to corporate-style governance?    de-bunking the myth about niche marketing for tax and accounting firmspractice development is no longer an optional activity10 good ways the achieve partner accountabilitypick your partners right to begin with • 

the points below clarify what a managing partner is and is not. read more →

get paid faster this tax season: six good reasons to send the bill with the return

it’s good for business and considerate to clients.

by ed mendlowitz
tax season opportunity guide

ed mendlowitz

tax season is a business and businesses need to be paid.  it is harder to justify prices when providing services rather than products.  products are usually priced before delivery while many times services are priced after delivery, i.e. performance.

more on busy season management: tax season trends, issues and opportunities 

many accountants price returns before they are worked on, usually basing the fee on last year, or a rate schedule.  sending a bill with the return establishes the relationship that you should be paid promptly for the work done. read more →

when is it time to shift your firm from partnership-style to corporate-style governance?

which is best for your firm?

by marc rosenberg
author of “cpa firm management and governance.” 

cpa firm management styles generally fall into two categories:  partnership and corporate. for the sake of argument, let’s use the terms “partnership” and “corporate” to describe management styles, rather than legal entities such as partnership, corporation, llc, etc.

marc rosenberg
marc rosenberg

more on cpa firm management and leadership for pro members [go pro here]:   not every firm needs a general patton   overcoming the three biggest obstacles in succession planning at cpa firms    cpa firm merger “non-negotiables”      the “aha moment” in cpa firm leadership     leadership is overrated: it’s good management that makes successful firms •  40 great ways to improve firm profitability  •  four management metrics that fool even the best-run firms  •  19 ways to improve accounting firm profitability de-bunking the myth about niche marketing for tax and accounting firms

in this article, we’ll:

  • define each style
  • compare the two styles’ pro’s and con’s
  • explain the concept of “rights”
  • explain the key duties of a partner in a corporate-style firm
  • when a firm needs to think about shifting from partnership to corporate

read more →