Rosenberg Associates Blog
Marc Rosenberg, CPAAspiring accountants who are invited to become a partner in their CPA firm usually face the hurdle of a buy-in requirement. This requirement is a payment that new partners must make to gain an ownership stake in the firm. Depending on the practice’s size, the buy-in requirement can be substantial at some firms, ranging from…
Kristen Rampe, CPAWe polled our audience of partners to find out what CPA firms are doing when it comes to 2023 pricing increases for services. Based on 232 responses, the most common average percentage increase planned for pricing increases was 10%–13%, followed by 6%–9%. Not surprisingly, larger accounting firms are making larger adjustments. Between labor costs and…
I had lunch with the MP of a $12M firm recently and, naturally, the conversation turned to what’s on the minds of all CPA firms: the challenges of retaining staff, making their jobs more desirable and getting them to covet being a partner. This firm’s income per equity partner is about $600K, with the MP…
The plight of any professional is a continuous status of “busy”. Even when it’s not busy, or not “busy season”, we’re “busy”. In many professional realms busy is a badge of honor; it means you’re good, people want to work with you, and the revenue stream is strong. Acknowledging that being continuously busy has its…
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…
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…
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…
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…
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…
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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