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CPA Firm Change Orders: The New Staff Bonus Incentive

Marc Rosenberg, CPA / March 27, 2013

Client work that goes beyond the original scope of the engagement – we’ve all done it.

Sometimes it’s work that the client can and should do. Sometimes the extra work results from sloppy records that need to be straightened out.

Whatever the reason, virtually every firm performs work that was not included in the original fee quotation

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A New Key Performance Indicator: “Lombardi Time”

Marc Rosenberg, CPA / February 26, 2013

This past July, The Green Bay Packers installed a giant clock at the main entrance to Lambeau Field, where the Pack plays their home games.  The new clock was deliberately set 15 minutes ahead of the correct time.  Huh? Well, one of many infamous management tactics of  legendary Packers’ coach Vince Lombardi was to expect…

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CPA Firm Profitability: Best Practices

Marc Rosenberg, CPA / November 21, 2012

A recent monthly roundtable comprised of 25 MPs from most of Chicago’s largest local firms was devoted to the group’s annual benchmarking and profitability analysis. In discussions, these highlights emerged:

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CPA Firm Management: If Nothing Changes, Nothing Changes

Marc Rosenberg, CPA / August 7, 2012

MP Brian Mandell-Rice of Denver-based Hein & Associates (68th largest CPA firm on Accounting Today’s Top 100 list, with annual fees of $46M) openly admits to not being the author of his favorite strategic planning quote: “If nothing changes, nothing changes.”

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CPA Firm Core Value Statements

Marc Rosenberg, CPA / July 11, 2012

Core Value statements can be very powerful for CPA firms. MPs of large, successful firms tell me the #1 reason for their exceptional performance is the partners’ commitment to the firm’s core values.

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Partner Comp Best Practices as Firms Grow

Marc Rosenberg, CPA / June 26, 2012

Except for periodic economic downturns, most firms evolve through many growth stages over time. Firm size changes often trigger modifications of their management practices.  The system for allocating partner income is a prime example. Here are several best practices for partner compensation that usually change as firms migrate from smaller to larger: Establish a link between a…

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What is a Partner?

Marc Rosenberg, CPA / April 17, 2012

I’ve seen the following scenario unfold countless times: On the retreat agenda is a two hour block of time devoted to the creation of a paper entitled “What is a Partner?” Serving a dual purpose, the document will be used as a tool to evaluate the existing partners and circulated as part of its leadership development and mentoring efforts among the staff.

We ask people to volunteer what they think should be on the list…

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Best CPA firms to work for: top trends

Marc Rosenberg, CPA / January 31, 2012

Accounting Today released the 2011 Best Firms to Work For list in the December 2011 issue with some interesting findings.

Dissatisfaction with pay and benefits was cited across the board at the lowest-scoring firms. However top-ranked firms offered a variety of features that contributed to employee satisfaction – and not all of them were monetary….

What benefits are the highest-scoring firms offering?

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The Best Staff Bonus Plan

Marc Rosenberg, CPA / December 21, 2011

The best staff bonus plans I’ve seen base bonus payouts on two factors: how well the firm performs vs. a target and individual achievement of formal, written goals.

For more information on how the bonus is calculated and to download a sample plan, click here:

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Training: An eye-opening “Best Practice”

Marc Rosenberg, CPA / November 22, 2011

I recently led a group of managing partners in a discussion of best practices. One firm shared an eye-opening practice in the training area.

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