partner

how large and small firms allocate income

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dollar on question markhow many of these 8 criteria does your firm use?

by marc rosenberg
partner comp: art & science

for purposes of this post, we will group cpa firms according to five different sizes:

more on partner compensation: integrating partner comp with strategic planning | crash course: operating a compensation committee | partner pay: open vs. closed compensation systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | why most partner comp systems are performance-based

  1. the big 4. they are the ultimate of sophistication, running their firms as true, colossal corporations, regardless of their legal entity. virtually none of this post relates to big 4 firms.
  1. the top 100 firms, excluding the big 4. the 100th largest firm was $33 million in 2015.
  1. multipartner firms from $15 million to $33 million.
  1. multipartner firms from $5 million to $15 million.
  1. multipartner firms below $5 million.

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the checks and balances your firm needs

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businessman pointing to transparent board with text: governancewhy your firm should be a republic, not a democracy.

by auqust aquila
creating the effective partnership

what checks and balances exist in your firm to keep it strong but also to protect the minority interest?

more on leadership for pro members: how to build a better firm through teamwork | drop politics, be accountable | what makes a successful strategic plan? | innovate or die | partners love, hate leadership | 8 ways leaders destroy firms | today’s top 6 partner compensation trends

maybe it’s time for more firms to consider a republic instead of a so-called democracy. the larger firms in the country are surely run more like a republic than a democracy. smaller firms would be well advised to change their governance to mirror the larger firms. but let’s start with the dictatorial form of governance – commonly found, sometimes wildly successful, but only to a point.

integrating partner comp with strategic planning

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businessman shooting arrows at targetwhy firms fail at strategic planning and how it relates to compensation.

by marc rosenberg
partner comp: art & science

the majority of firms under $10 million don’t have a proper written strategic plan, with partner goals, in place.

more on partner compensation: 3 non-performance-based comp systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | partner compensation: an art, not a science | why most partner comp systems are performance-based

a proper strategic plan should include these features:
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how to build a better firm through teamwork

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persuasion word cloudpartnership is about persuasion. plus 5 questions to consider.

by august aquila
creating the effective partnership

just as the partners need to engage with the firm’s vision so do the firm’s people. but, like everyone, they actually engage with people not words.

more on leadership for pro members: drop politics, be accountable | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team | how to combine two firms after merger: carefully

so, effective partners continually engage with their people, regardless of their level and role. they go out of their way to create a personal bond, sharing personal information and operating with honesty and integrity in all of their interactions.
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checklist for implementing a merger

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34 action steps. got your signs and video camera ready?

by marc rosenberg
cpa firm mergers: your complete guide

most firms find that it takes three to four years to fully implement a merger. but during the first few months after the effective date of the merger, there are quite a few administrative and procedural things that need to be attended to immediately. most firms try to get as much of a head start as possible, before the effective date of the merger.
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how to identify partner potential in staffers

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chart to assess partner potentialplus tips on how to develop them.

by marc rosenberg
cpa firm retreats

do you have staff with potential to become partner? do you know how to tell?

more on retreats: staff best practices … for the firm | staff likes and dislikes about the accounting profession | partner buyout 101 | system vs. system: partner compensation best practices | partner accountability: how and for what? | management styles: partnership vs. corporate

start with the chart at right.
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6 types of due diligence procedures

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cyfra szeavoid the temptation to concentrate on some and breeze through others.

by r. peter fontaine
newgate law

my approach in writing this post is to give you a comprehensive list of due diligence items for your consideration, and to let you select the reviews you wish to perform. the ultimate decision rests with you.

more on mergers: how to merge sole practitioners | thinking ‘downstream’ merger? check these 25 potential problems first | 20 terms to settle when merging up | 13 questions to assess an upward merger | what to discuss at the first merger negotiation meeting | what to ponder before issuing a letter of intent | one times fees is a steal! | looking to grow your firm? how to find a seller in four steps | 14 keys to a successful merger

the scope of due diligence will differ depending on the transaction, and should be appropriately tailored. however, your letter of intent combined with the six areas outlined below result in a fairly comprehensive list of due diligence procedures that should serve the needs of most cpa mergers.
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