Rosenberg Associates Blog
Marc Rosenberg, CPAThe Facts Excerpted from Michael Cohn’s article in Accounting Today, July 24, 2015 issue: The IRS budget has shrunk: from $12.1 billion in F/Y 2010 to $11.0 billion in fiscal 2014, a reduction of 9 percent. Steeper cuts on the way: The House budget for F/Y 2016 allotted $10.1 billion—$838 million less than the current…
Questions from a Reader: Our firm is currently working on revising our shareholder agreement. We have 13 shareholders. We are wrestling with a few issues. We plan to create an Executive Committee to work with our MP. What is the best way to seat the EC? Elected by the partners or appointed by the MP?…
My Chicago MP roundtable group brings in a renowned leader of a major regional CPA firm once a year. Our most recent guest was Ted Dickman, MP of BKD, the 12th largest firm in the country with annual revenues of $500M, 260 partners and 34 offices. Here is BKD’s “secret sauce.” How is BKD so…
CPA firm partners are by and large a straight-shooting bunch. They don’t intentionally set out to deceive themselves – or firm management. But common answers to questions posed to CPA firm partners frequently reflect the way things should be, not the way they really are. Here are some examples: What are you doing to bring…
Recently, a marketing expert shared with me an astounding statistic: The average tenure of a marketing director or coordinator at a CPA firm is 18 months. 18 months! Not one to passively accept such a stunning fact, I convened a series of roundtable group with 14 CPA firm marketers. They were with firms ranging in…
As another year comes to a close, I find myself reflecting on the prevailing trends in our industry and looking ahead to how these influences will shape the coming year. Partner compensation The exodus from formula comp systems to compensation committees continues. Partners have come to understand that (1) formulas encourage behaviors that are harmful…
Every year my Chicago MP roundtable group brings in a renowned leader of a major regional CPA firm. Our most recent guest was Larry Autrey, 52, MP of Ft. Worth-based Whitley Penn, which Accounting Today reports as the nation’s 57th largest firm, with annual revenues of $59M and 38 partners. Take it from me when…
These issues are filling up retreat agendas across the country: Baby Boomer partners are retiring in droves and looking forward to the payday they have anticipated their entire careers. Billions of dollars nationwide are at stake. The supreme challenge of “older” partners: How can I retire with dignity, keep the firm intact AND receive my…
My Chicago MP roundtable group brings in a renowned leader of a major regional CPA firm once a year. Our most recent guest was Gordon Krater, MP of Plante Moran, the nation’s 11th largest CPA firm. Accounting Today reports their annual revenues at $375M. Gordon has been MP since 2009. His firm has been recognized…
Virtually no MPs went to “MP school” or received mentoring and training to be an MP. So it’s understandable that many MPs struggle to be real leaders. MPs should be groomed and trained for the job at least 3 years prior to assuming the position. Serving on the firm’s Board is a great training ground….
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