leadership

innovation through wellness: you can’t grow without a “well” firm

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“when we take good care of our people and ourselves, we can drive success at all levels.”

by adam herman
market leader, wipfli llp

herman

wellness is more than just a powerful tool for retention and recruiting—it’s one of the most critical issues for the accounting profession to tackle moving forward. it’s also a subject that i’ve been passionate about for many years.

so when i had the opportunity to participate in a panel discussion highlighting practical approaches to wellness at the allinial global executive team conference in may, i jumped at the chance to share ideas and experiences with fellow panelists demetrice branch, chief people officer at weaver, and mike giuli, cio at cherry bekaert.

our panel moderator, donny shimamoto, opened the discussion with an intriguing observation: innovation doesn’t always have to be driven by technology. wellness is a way for firms to innovate. keeping that in mind, we explored three different dimensions of wellness and how allinial global firms are incorporating these aspects into their wellness initiatives.

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allison schlegelmilch: leadership lessons from firm mergers | capstone conversations

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capstone conversations
informal and informative discussions with leading growth strategists from the nation’s most dynamic cpa firms.

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with jean caragher
for 卡塔尔世界杯常规比赛时间

i was delighted to have a capstone conversation with allison schlegelmilch, director of marketing at rkl llp and an association for accounting marketing marketer of the year.

follow jean caragher on 卡塔尔世界杯常规比赛时间 here. | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | catch jean caragher every friuday with gear up for growth here |

why was allison named marketer of the year? well, let me give you an idea. read more →

does firm culture still matter?

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a well-defined firm culture is key to building an irresistible employer brand.

by seth fineberg
at large

who you are and what you stand for as a firm can mean many things, but if you aren’t explicit about what you are about, you may as well say nothing.

more: seth fineberg

i know this is a bold statement, but over the years, i’ve heard the term “firm culture” tossed around so freely that i daresay, when pressed, that firm leaders will be challenged to have a legitimate answer when asked what it actually is.
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the right kind of lazy: innovative approaches to streamlining workflows | accounting arc

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arc hosts discuss redefining efficiency in the accounting profession and when it pays to ‘slack off.’ 

accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation

in a recent episode of the popular accounting arc podcast, hosts liz mason, cpa, and donny shimamoto, cpa.citp, cgma; and byron patrick, cpa.citp, cgma; discussed an unconventional yet powerful concept: the right kind of lazy. this idea, which involves strategically optimizing workflows to eliminate non-value-adding tasks, offers a fresh perspective on efficiency and productivity in the accounting profession.

more accounting arc

mason, founder and ceo of high rock accounting, shared an anecdote from her early career at grant thornton. faced with the monotonous task of processing paper tax returns, mason decided to automate the process. she spent over 100 hours developing a script that streamlined data entry and document generation. although initially time-consuming, the solution saved significant time when implemented across multiple offices. “it was fun and a great learning experience,” mason remarks. “at scale, it saved a ton of time for people.”

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you have to start somewhere

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wishful thinking won’t move you forward.

by ed mendlowitz
the 30:30 training method

question: thanks for the training memo. although i requested your memo because i know i need help with improving efficiency and the like with my practice, many of your thoughts and ideas i have already thought of but simply did not implement them.

more: two options for collecting past due fees | you can’t win with lowballing | yes, you have to share work papers | should you merge? here’s how to chart your path | hold staff accountable if you want them to listen to you | how to raise your rates | higher fees to start: ten ways to make your tax season better | three ways to start an accounting practice | free consultation? not always | referral fee? forget it
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

response: i think you hit part of the nail on the head in what you wrote – you’ve had many of the ideas and “simply did not implement them.”
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olympics of outsourcing and offshoring for accountants

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the only difference is it’s not a once in four years event.

by hitendra patil

 the olympic games are the epitome of human achievement. the best athletes in the world come together to compete for the ultimate coveted glory. the accounting profession is no different in its competitive spirit and quest for excellence.

take action now: take this 2-minute quick quiz to evaluate if your firm needs outsourcing.
you will instantly get your score and what that score means.

outsourcing and offshoring have emerged as a necessary remedy to overcome the challenges of the accounting talent shortage. accounting firms leveraging outsourcing and offshoring are like the athletes excelling at the olympics. like the olympics, accounting firms need rigorous preparation, strategic planning, and meticulous execution to succeed with outsourcing and offshoring. let us dive into the comparison between the olympics and outsourcing/offshoring strategies. let us see how accounting firms can assure gold-medalist performance in the olympics of outsourcing and offshoring.

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two options for collecting past due fees

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you can do more work, but under certain conditions.

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

question: client didn’t pay his bills to me, doesn’t return my phone calls and his secretary keeps sending me the tax notices he gets with notes of “when are you going to take care of them?” i tell her that i need the client to call me before i can do any more work and she ignores this and keeps sending me the notices and other tax correspondence he gets.

more: you can’t win with lowballing | nine reasons not to specialize | hiring experience vs. training inexperience | a friendly chat or a billable discussion? | when selling a firm to staffers is tricky | courting a client? don’t give too much away for free | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

i don’t want to tell him i am dropping him because then i don’t think i’ll ever be paid. every year he goes on extension and he usually pays me half of what he owes when he sends me his tax info, but the past due amount has really accumulated to about three years’ fees. what should i do about getting paid?
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vimal bava: when working smarter, not harder, is the only option

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humans are the most advanced supercomputers, but there’s no user manual.

this is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members. 
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).

the disruptors
with liz farr

like many who start out in public accounting, vimal bava didn’t initially question the status quo of our high-stress profession where long hours and little time for self-care are the norm. part of that stress was a partner who would “chew us out” for mistakes on returns.

more podcasts and videos: dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

but when vimal’s doctor told him he needed to find ways to reduce his stress, he started his own firm. another wake-up call for vimal came in 2017 when one of his accountant friends suddenly passed away.

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nine reasons not to specialize

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young black woman sitting in front of laptop looking thoughtful

think about what you really want.

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

question: can you recommend a specialty i can get involved in to generate more revenue for my practice?

more: when board service gets tricky | yes, you have to share work papers | should you merge? here’s how to chart your path | hold staff accountable if you want them to listen to you | how to raise your rates | higher fees to start: ten ways to make your tax season better | three ways to start an accounting practice | free consultation? not always | referral fee? forget it | how much is your tax practice worth?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

response: my discussion with the cpa indicated that his practice consisted of a large individual tax return practice and many monthly business clients. he thought financial planning or business valuations would be a way to expand his services and make more money. it did not seem he had an intellectual interest in these areas.
read more →

how firms are compensating their coos

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bar chart

real-life examples. about 29% are owners.

by kristen rampe
rosenberg associates

more and more firms are exploring the benefits of adding a chief operating officer (coo) to their leadership ranks. the coo role often encompasses strategic cpa firm leadership, holding partners accountable, making decisions in line with the firm’s strategy and overseeing all administrative functions.

more: help! a partner wants to retire really early
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this position can significantly reduce the time client service partners spend attending to these duties. and often the coo can do them better, as they aren’t distracted by the next fire drill from a high-profile accounting client. their only client is the firm.
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yes, you have to share work papers

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“we all get stuck like this.”

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

question: a longtime business client who owed me a large balance for unpaid fees sent a letter dropping me. he then wrote me a letter requesting me to send “his” papers to his new accountant.

more: hiring experience vs. training inexperience | eleven ways new staffers can help bring in business | busy season is over, so it’s time for some resolutions | want to merge? six steps to take | how to start providing family office services | every accounting firm needs quality control | no one listens to you? change how you talk | 47 types of business valuation to provide | thirteen things to consider before you sell your practice
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

can i insist on being paid first or do i have to send the papers? i made some notes on a worksheet adjusting his numbers that went on the tax return. do i have to send this also and if so, do i have to write these up in proper journal entry form?
read more →

accounting needs a ‘rethink’ not a ‘rebrand’

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two women talking while seated at a table

your value is in the knowledge you have and the relationships and trust you’ve built.

by seth fineberg
at large

the field of accounting, and being an accountant, is challenged on many sides – none more so than the very act of being an accountant. in short, given the demand for new services and the growth in automation for nearly all “tasks,” what does accounting or being an accountant mean anymore?

more: big change comes with deep reflection | three ways to raise the bar for your business | randy crabtree: stress management for overworked accountants | tax chat: eric green reveals the tax rep guide to tax season  | it’s time to do the uncomfortable  | three ways to improve next tax season  | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

let’s be clear: accounting’s literal and metaphorical face is, and needs to be, changing if it is to grow and thrive. this, however, isn’t necessarily a bad thing. but, as we well know, change is not easy or quick. what should encourage accounting professionals is that at this very moment in time, they have the ability to have a say in what accounting, and being an accountant, actually is and could be.
read more →

calculate the cost of losing clients

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woman and man working with calculator

follow this simple formula.

by august j. aquila
price it right: how to value accounting services

although most of my posts deal with gaining new clients and bringing in new projects, it’s important to remember that the most valuable asset of any professional services firm is its clients.

more: the secrets of great business developers | how life cycle changes your marketing | clients buy solutions, not features | make sure you know what you will get from your marketing | three pillars support a successful accounting firm | clients have six reasons for needing you | six ways to market your technology consulting practice | sixteen marketing activities to try | the four steps of your personal marketing process
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

losing clients can be costly, but do you really know how much it can cost you? let’s find out.
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