Posts Tagged ‘CPA-Firm-Management-Governance’
What’s Happening in the CPA Ecosystem?
By Marc Rosenberg, CPA, with contributions from Kristen Rampe, CPA; Matt Rampe, ASA, PCC; Amanda Lilley, CPA, SHRM-CP, PHR; and Jeff Arnol, CPA, JD Ask random people on the street—or, even better, business executives—if there have been profound changes in the accounting profession over the past 10–20 years. The answer you’ll most likely get is,…
Read MoreShould Your CPA Firm Consider Private Equity? The Pros, Cons, and Key Questions to Ask
Private equity (PE) is moving into the accounting industry, elevating pressure on firms large and small to consider their next move. While direct investments in larger firms began several years ago, PE is now active and likely to keep expanding with targets in the mid-sized firms and even smaller ones (under $30M). To determine whether…
Read MoreIs Your CPA Firm a Small, Mid-Sized or Large Firm? How Is This Properly Measured?
There is a little devil in me that will come out as you read my blog today. Devilish because this is a blog that will likely cause some readers to question some of my assumptions and statements. That’s okay. I love it. I can take it. This blog was inspired by two experiences: (1) First,…
Read MoreHow 20 Chicago Mid-Size Firms Saw the 2023 Tax Season
My colleague, Art Kuesel of Kuesel Consulting (art@kueselconsulting.com), and I have been leading three roundtables in the Chicago area for over 20 years. Each group has about 25 partners, mostly MPs. The group that this blog reports on comprises roughly 75% of the largest local firms in Chicago. Revenues range from $7M to $35M. We…
Read MorePartner Coaching: Why is it beneficial?
I coached a managing partner recently – let’s call him Chad – who was standing on a proverbial burning platform when I met him. Chad had lots of clients who loved his firm, but was short staffed at the lower levels and partner level. He had a succession problem that needed to be handled now.…
Read MoreShould You Have Non-Equity Partners?
As featured in Accounting Today. Succession planning at CPA firms has never been more difficult. Minting new partners is a struggle, as many potential candidates are leaving the field or are not interested in the job. This leaves more and more “retired” partners (those who have given up their equity) still working because there’s…
Read MoreAre Staff’s Poor Writing Skills Causing Problems?
Why it’s important to write correctly Written communication takes several forms: emails, texts, letters (to clients and the IRS, for example), client reports, performance evaluations, etc. Thoughtful writing of these messages is important because: It shows that the author is thinking clearly. The way you write says as much about you as the way you…
Read MoreThree Critical Upgrades for Your Firm’s Management
It’s no secret that small to mid-sized CPA firms don’t have the same resources to manage their firms that the Top 100 do. Plus, smaller firm owners enjoy the freedom that comes with being able to do what they want and not be subject to corporate policies, red tape, bureaucracy, and other negative aspects of…
Read MoreNew CPA Firms Ask For Your Digital Files, Do You Share?
I know. I know. If you’re like most of our clients, you never lose clients. Ever. At least you won’t admit that you lose clients from time to time. But the best of firms lose clients on a regular basis, so fess up. Now that we’re all honest, we can focus on a question recently…
Read MoreCurrent Effects of COVID on CPA Firms – Rosenberg’s Analysis
The CPA industry is as steady as an ocean liner in heavy seas… in normal times, which is 90% of the years. Most established multi-partner firms experience increases in revenues and profits on an annual basis…in normal times. Sure, there are major challenges such as finding staff, retirements, technology’s relentlessly huge impact on how CPA…
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