Posts Tagged ‘CPA-Firm-Management-Governance’
New 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…
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…
Read MoreCovid-19: How Your Firm Can Respond
As we navigate these unprecedented times, we at Rosenberg-Rampe Press are thinking of partners and staff at CPA firms throughout the world. Your top priority must be the health and safety of your team members and your clients. For the first time in most of our lives, an international health crisis has the makings of…
Read More15 Amazing Organizational Tactics to Manage a CPA Firm
Haven’t we all learned the hard way that the best way to solve a problem is not to let it arise in the first place? Great example: Hire right the first time. Jeremy Wortman, a leading expert in Talent Management, wrote in our book CPA Firm Staff: Managing Your #1 Asset that “firms should first…
Read MoreHow 17 Great MPs See Their Jobs
I recently updated my research on the role of the Managing Partner. How better to do this than to poll great MPs from across the country? So that’s what I did. I received responses from 17 MPs: three from firms with revenue exceeding $50M; 5 firms were $20-50M; 6 firms were $10-20M and 3 firms…
Read MoreThe State of Small CPA Firms
Accounting Today contacted me recently for some insights on the state of small CPA firms – which is basically the vast majority of the 45,000 CPA firms in the U.S.A. I define a small firm as any practice with revenues under $3M, including sole practitioners. Here are some of the topics we covered: The demise of…
Read MoreAdvice for the New Managing Partner
Baby Boomer managing partners, many of whom founded their firms, are retiring in droves. Some firms have no successor to the MP and merge up. Many others are electing younger, new MPs to replace their predecessors. Many of the likely candidates for the MP have received signals from the incumbent MP, the other partners, or…
Read More