Posts Tagged ‘CPA-Firm-Management-Governance’
How 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 More3 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…
Read MoreThe Antithesis of the Managing Partner: Management by Committee
There is an intuitive notion that comes to partners that goes something like this: “Let’s all get together and form a firm that will make us all more successful than any of us could be individually. We’ll follow the principles of democracy by dividing up the management duties so that no one is overburdened. The partners…
Read MoreCPA Firm Leadership Tips From a Top MP
Randy Nail is the Managing Partner (MP) of Hogan Taylor, a $50M Oklahoma-based firm in Tulsa and three other locations. Randy got a unique baptism to managing the firm in several respects. In 2009, Hogan Taylor was created from a merger of two equal $10M firms. One of the two firms’ MPs initially served as MP,…
Read MoreManaging Cash Flow: 10 Tips from MPs
The coronavirus crisis has cast a surreal cloud over every aspect of our lives. To say that businesses are in uncharted waters would be an epic understatement. No one has all the answers. But as is the case in any crisis, as we work through it, we start to pick up best practices from each…
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