Blog

Solos reluctant to sign practice continuation agreements

Marc Rosenberg, CPA / November 15, 2011

To me, having a practice continuation agreement is a “no-brainer.” I can’t think of a single reason why a sole practitoner should NOT want to do this. Yet, throughout my entire career I have seen only a small handful of firms enter into such an agreement.

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Nothing beats face to face

Marc Rosenberg, CPA / November 7, 2011

Early in my career, I was asked to proofread a chapter in a finance book entitled “How To Negotiate a Merger.” To this day, I still remember the central message: To negotiate effectively, try to put yourself in the other guy’s shoes.

Internet and email are great – they’re the tools that make this dialogue possible! But at what point do they start threatening our civilization’s ability to interact successfully in “real life?” And what are the possible repercussions to your practice if face-to-face networking becomes a thing of the past?

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Fall Colors and Succession Planning

Marc Rosenberg, CPA / November 1, 2011

Fall is my favorite season because the air is delightfully cool and crisp and Mother Nature puts on her most spectacular show. It’s a great time of year for scenic drives to places like Vermont –  listed in National Geographic Traveler as one of the world’s  50 Top Places of a Lifetime – in the rarefied company…

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UIC Accounting Club Banquet

Marc Rosenberg, CPA / October 27, 2011

Professor Abel Galvan gave a short speech on leadership and his advice to the students was “stay humble.”  What a refreshing piece of advice!  He shared a great quote with the students: “If your actions inspire others to dream more, learn more, do more and become more, you are a leader.”   – John Quincy Adams…

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You Get What You Measure

Marc Rosenberg, CPA / October 24, 2011

Jeff DeYoung, MP of the Chicago & Minneapolis offices of Baker Tilly, the 16th largest CPA firm in the U.S., gave a marvelous presentation to my Chicago roundtable group. A few years ago, the former Virchow Krause boldly changed its name to Baker Tilly.  “We really like the international brand name – there are only…

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Operating a Compensation Committee: The devil is in the Details

Marc Rosenberg, CPA / October 18, 2011

Increasingly, CPA firms are adopting the Compensation Committee system for allocating partner income.  Firms are finding that systems such as formulas, pay based on ownership percentage or pay-equal no longer work.  When we compare the usage of the compensation committee today to 5 years ago, the increase in usage ranges from 16% to 26%.  If…

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How Should The NEW Managing Partner Be Compensated?

Marc Rosenberg, CPA / October 11, 2011

Baby boomer partners are rapidly approaching retirement age, creating a huge demographic shift within their firms.   One result of this is a dramatic increase in new managing partners at firms.  Many firms are skipping a generation and turning the reins over to “younger” partners. Firms are also asking their new MPs to divest themselves of…

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The Rosenberg Diabetes Fundraising Team Shines Brightly

Marc Rosenberg, CPA / October 5, 2011

Our family’s #1 fundraising passion is the Juvenile Diabetes Research Foundation’s annual Ron Santo Walk to Cure Diabetes.  This past Sunday was the annual walk and it was fabulous!  Our group of 20, primarily friends of daughter Lauren, walked the 5K distance in bright sunshine.  After the walk, we adjourned to Lauren’s apartment for a…

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You can’t manage what you don’t measure

Marc Rosenberg, CPA / September 26, 2011

Benchmarking is useful to all forms of organizations because it’s a great way (though not the only way) to measure progress and success.  By comparing your firm’s metrics to other comparable firms, it helps identify areas that are going well and areas needing improvement.  Without benchmarking, firms will inevitably lead a provincial existence, blissfully unaware…

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Marc Rosenberg named to Accounting Today’s Top 100 Most Influential & IPA’s Most Recommended Consultants lists

Marc Rosenberg, CPA / September 19, 2011

Mark Twain said “I can live for two months on a good compliment.”  We are honored by the recognition given to us by the two most prestigious publications in the CPA industry: Accounting Today’s Top 100 Most Influential List for the 8th consecutive year. INSIDE Public Accounting’s 2011 list of the CPA Industry’s Most Recommended…

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