Rosenberg Associates Blog
Marc Rosenberg, CPAI have led an MP roundtable group of half of the largest local firms in Chicago for over 20 years. In October, the presenter was Frank Saibert, Chair of the Labor & Employment Group of the law firm of Ungaretti & Harris. The topic: Social Media Pitfalls. Here are the highlights.
Chicago Tribune sportswriter David Haugh wrote a marvelous article about Jerry Krause, one of the sports world’s most brilliantly successful executives. Terribly misunderstood and unfairly maligned, Krause, now 73, was the general manager of the Chicago Bulls in the 1990s during their reign as six-time NBA champions. A few excerpts grabbed my attention that would form the foundation of any book on CPA firm management.
I just released a new Monograph on CPA firm management. If I’d written this monograph prior to, say, 2005, the title would have simply been How to Manage a CPA Firm. But in recent years, a new term began being used by CPA firms: Firm Governance. Since the use of “governance” is clearly on the rise, we simply had to include this term in the title.
I gave a lot of thought to what “governance” means, what “management” means, how they are alike and how they are different.
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.”
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…
To me, the one-firm concept means: Everyone buys into a common vision. Its crystal clear what everyone’s role is in the firm. Partners agree to be accountable for their conduct and performance. Clients are clients of the firm, not the individual. Clients freely and willingly transferred between partners for the good of the client and…
I’ve long been intrigued by the CPA profession’s tendency to consider certain terms interchangeably. They are: Management vs. administration. Both important. But their meaning is quite different. Most admin work can be done by people earning $50K-$150K annually, depending on the size of the firm and the skill level of the administrator. Average partner income…
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