talent & career development

why would anyone become a cpa?

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the competition between cpas and non-cpas is about to get more aggressive.

with steven sacks
the new fundamentals: thriving in disruption

the cpa profession, or just plain old accounting profession, is currently facing challenges of getting more people to become cpas or even having young people think about accounting as a career.

more steve sacks: 150 hours revisted: the profession needs a makeover | how do you value your most important asset? | which is better: a year of education or a year of experience? | sell service, not hours | private equity vs. the cpa firm partnership | cas or caas? getting clarity | fine-tuning the subscription fee model | when cyber-crime hits close to home | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we hear about the slow drip of the professional pipeline; all sorts of remedies or suggestions have been offered. is it because the profession still suffers an identity crisis exacerbated by an additional (if questionable) fifth year?  there are those already in the profession who are bemoaning low pay, long hours, and doubts about whether gaining a partnership is achievable (or worth it).

oh, yes, there is the extra tuition load that must be taken on. so, higher debt, stagnant pay, long hours, and increased competition (think mbas, cfas) is a perfect storm.

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fifteen strategies for first-time supervisors

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partners should set staff up for success.

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

question: 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 (because i am more like a generalist and clients ask me everything), never seem 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: no one listens to you? change how you talk | free consultation? not always | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

so how do i do it all? how can i prioritize all my responsibilities?

response: wow! deep question! it seems there is very little written for “entry-level” supervisors. but plenty for people already doing it.
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measure knowledge gaps (then close them)

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four people on lower stairs, one on upper stairs, gap between

six questions to ask, plus a real-world example.

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

question: 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: 47 types of business valuation to provide | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

response: this is a frequent question, and sometimes it is the person asking it who has “maxed out.” but sometimes it is the partner or a key staff who wants to be made a partner.
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empower staff to make mistakes (safely)

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older man and younger man having meeting at desk

think of it as teaching judgment.

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

question: 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: 47 types of business valuation to provide | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

response: everyone working for you has and uses judgment – they have homes, families, organizations they belong to and they manage their career. each of these requires their exercising judgment many times a day. they all have judgment.
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47 types of business valuation to provide

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serious woman working at two screens

there are great money-making opportunities, but don’t overlook the difficulties in getting started.

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

question: 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.

a few things:

more: referral fee? forget it | 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.

1) we don’t do any bv now so my ability to acquire the abv credential would be difficult w/o the experience aspect.
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move announces best firms for women, best firms for equity leadership

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pinched between immediate capacity shortfalls and applying talent to innovation, firms are crafting new ways to recognize and reward women’s resilience.

by bonnie buol ruszcyk

you can’t go the distance on an empty tank.

it takes pacing, re-fueling and constant systems checks to achieve long-term goals, for both accounting and advisory firms and women in the profession. individual career sustainability is essential for firm growth – and vice versa.

in the recently released 2023 accounting move project report, a talent-starved profession receives a fresh influx of strategies and inspiration for investing in the women it must attract and retain to achieve short goals and survive long-term. with nearly 75% of accounting firm leaders eligible for retirement, and accounting degree college enrollment continuing to drop, the profession is at a crossroads. it is more important than ever for firms to find ways to attract and retain employees to not only meet increasing client needs, but to simply survive. so, what are firms that are outpacing the industry doing differently?

more: jina etienne: practice fearless inclusion | csr for cpas: the missing ingredient | new study: embracing diversity in accounting |why the diversity problem won’t be ‘fixed’ |sponsorship might keep talent from exiting | new study: embracing diversity in accounting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the accounting move project report finds firms embracing the new super skill of career sustainability are rising to the occasion. for women, career sustainability addresses the capacity to maintain motivation and energy at every step, while rebalancing the personal and professional with each engagement. for firms, it engenders a leadership culture, defining new capabilities, qualifications, and measurements for unmapped growth. and for both, this super skill is the ability to “skate to where the puck is” on slanted ice through upended physics. through it all, mutual respect and collaboration remains paramount, the inescapable legacy of the workplace upheaval brought on by the pandemic.

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train now before it costs you down the road

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your time investment now could reap dividends during tax season. 

by frank stitely
the relentless cpa

we’ve all heard it.

ask if an assigned project has been completed and get the, “it’s done, but …” followed by a few reasons why said project is still – let’s be honest – incomplete.

more: keep clients from “balance due” shock | stop clients from performing “favors” | control your time: avoid ambush meetings and calls | make fewer mistakes, increase revenue and capacity | six ways to create a millennial-friendly firm
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

let’s examine how we got a “done but” society. a lot of this will sound like, “back in my day, sonny …” old man nonsense, and a lot of it is.

however, i promise you a solution after my sociological exploration of 21st-century culture. you won’t need a degree in sociology to understand this.

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five steps to transition to partnership

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man pointing at laptop screen as woman looks on

get your senior managers ready.

by marc rosenberg
the rosenberg practice management library

how are the duties and responsibilities of a new partner different from those of a manager? this is one of the grayest areas in bringing in new partners.

more: disturb the present to improve the future
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

ideally, there should be a gradual transition for new partners from their last two to three years as a manager to the first few years as a partner.
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