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5 Ways to Improve Your Collections Practices

Marc Rosenberg, CPAMarc Rosenberg, CPA / April 7, 2020

CPA firms find plenty of reasons to delaying billing and collections. Sometimes, it’s difficulty feeling comfortable charging a client those big fees, sometimes it’s just a hassle; often, accountability is low. While you may have been able to get by with these practices before now, and still have relatively good collections rates on your receivables…

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Partners: The Issues That Keep You Up Nights

Marc Rosenberg, CPA / July 23, 2018

CPAs seem to tend towards conservatism – they dislike change. Old school practices dominate and change is hard.  But change is inevitable.  Progressive firms will tell you they thrive on change.  They are eager to adopt new school practices.  Why not you? Here are some examples of old school vs. new school practices. Bringing in New…

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Alternative Facts: How Partners Stretch the Truth

Marc Rosenberg, CPA / June 5, 2017

A presidential advisor known by all infamously invented what is now an everyday term.  When asked to defend blatant lies, with a straight face, this advisor said the falsehoods were “alternative facts.” Partners and their firms aren’t immune to creating alternative facts.  Here are some examples: ARE YOU ACTIVE IN PRACTICE DEVELOPMENT? Alternative fact: “I’m…

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Meet Greg Burbach-A Truly Innovative MP

Marc Rosenberg, CPA / April 10, 2017

Our MP Roundtable recently spent a morning with one of the most innovative MP’s I’ve met in recent years – Greg Burbach of $60M Honkamp Krueger, Dubuque, IA. Here are some key takeaways from his talk. Client relationships. We encourage our staff to talk to clients face-to-face or on the phone, and always try to…

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Old School vs. New – CPA Generation Gap?

Marc Rosenberg, CPA / January 25, 2016

MP’s and other leadership partners are charged with being visionary in their thinking. This includes keeping the firm current and changing with the times. Firms today want to project a ‘cutting edge’ look and feel to Millennials. In pursuit of this image firms are sometimes forced to choose between “old school” practices from an earlier…

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A Morning with Allan Koltin

Marc Rosenberg, CPA / August 24, 2015

My large firm roundtable group in Chicago recently invited Allan Koltin, President of Koltin Consulting, to share his experiences with us. If there were an election of the most highly visible, sought-after consultant to CPA firms, Koltin would be the hands-down winner. Some of his accolades: Accounting Today’s Top 100 Most Influential list for 15…

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Your Firm’s Worth: Why Internal and External Valuation Varies

Marc Rosenberg, CPA / February 16, 2015

Profitable, attractive firms under $2M, and especially those under $1M, sold in a market with many potential buyers, usually fetch 100% to 150% of fees. If this is the case, why do 90%+ of CPA firms value goodwill for retirement or buyout purposes at no more than 100% of fees, averaging 80%? (Source: The Rosenberg…

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CPA Firm Technology Best Practices – from a non-IT guy

Marc Rosenberg, CPA / March 24, 2014

I’ve always believed “when you don’t know something, find an expert who does.”  So to keep myself current on IT advances in our field, I stay in close touch with Roman Kepczyk. Here are some practices that blend what I do know and what Roman tells me: Practice good email hygiene.  I’ll share three tactics. …

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CPA Firm Economics 101

Marc Rosenberg, CPA / March 10, 2014

Ever wish your staff could take a course in the basics of how a CPA firm works?  Ever wish your partners could take the same course?  The benefits would be immeasurable. Here are just a few examples of what the curriculum would include: CPA firms should be a high priced, low volume business.  The accounting…

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Time Management – A New Addition to the List of CPA Firm Profitability ‘Best Practices’

Marc Rosenberg, CPA / March 4, 2014

About 7-8 years ago, while idling away my time in an airport somewhere, I listed the Best Practices for profitability and success at CPA firms.   My initial list numbered 40 or so, but I cut it down to the top 25. Since this inaugural list was created, I have bounced it off savvy MPs and…

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