Monthly Archives: January 2012

Seven Steps to Building a Great Partnership

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August Aquila
August Aquila

What makes an accounting firm great? by August Aquila Aquila Global Advisors  Too many firms don’t give a lot of thought to the question.Their main concern is surviving. But the sooner a firm can start focusing on what makes a great partnership, the better off it will be. Think about this, if you don’t address this question, how will you know if you are admitting the right types of partners?  What technical and personal skills would you want? What personal values (character) would you look for? Here are seven characteristics that form the foundation of a great partnership. If you are missing any of them or if you merely need to improve in some areas, now is the time to start strengthening your firm’s foundation. READ MORE →

SURVEY UPDATE: Busy Season Shifts to Hi Gear

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red pencil survey

And so, too, the mood of the accounting profession.

 by Rick Telberg

The outlook for a better busy season is improving among tax and accounting practitioners, with 16% reporting “much better” operations in January, up from 11% in the year-ago month and continuing a string of monthly year-over-year advances in the CPA Trendlines polling.

Complete findings are published in The CPA Trendlines Practitioner’s Tax Season Performance Review and Outlook Report. (Learn more here)

Overall, practitioners are headed into the jaws of the February busy season with 57% of them reporting generally positive results. Only 19% are calling for worse and 25% forecast no change.

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75% of CEOs See Shortfalls in Accounting for Value

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Survey unveiled at launch of new credential.

About 75% of the world’s CEOs say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships to drive long-term performance.

But just 51 percent of nearly 300 CEOs surveyed in 21 countries say their organizations currently measure the value of non-financial assets well or very well. And only 12 percent now turn to their finance teams for help with the task.

FREE INSTANT DOWNLOAD for CPA Trendlines PRO Member
For the full report, click: READ MORE →

Seven Tweaks for Your Engagement Letters

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Get paid and avoid misunderstandings with your clients. by Steve Erickson In some firms, engagement letters are treated as an afterthought even though they are required as a part of any quality control system. This lack of attention to the … Continued

Thank You, CPA Practice Advisor

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CPA Trendlines Founder Named “Top Thought Leader.” For the second year in a row, Rick Telberg, president and CEO of Bay Street Group LLC, which publishes CPA Trendlines, has been named one of The Top 25 Thought Leaders in the … Continued

The 2012 Marketing Plans of the Best Firms

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High-performing firms look to leap ahead of low-performers with a few key strategies.

Marketing plan intentions, firms of 100 persons or more, comparing high- and low-performers

by Rick Telberg

A new study by CPA Trendlines shows that high-performing firms and low-performing firms are following markedly divergent marketing and practice development strategies as they battle through a sluggish economy.

Click here to get the full report

The complete 179-page study, “Marketing and Business Development Strategies at Accounting Firms – 2012 Survey Report, with Commentary and Analysis,” is available for purchase by CPA Trendlines parent Bay Street Group LLC. The study shows trends within the profession, but also distinguishes between high-performing firms and low-performing firms, based on time-tested proprietary CPA Trendlines criteria. In this study, high performing firms are far more likely than low performing firms to enjoy marketing successes. The data for this report was gathered over the course of more than two years and includes the responses of about 588 practitioners. The margin of error is plus or minus about 3 percentage points at a 90% confidence level. Click here to learn more.

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The Top 12 Tax Return Preparation Errors

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PRO Members: Click here for the instant download

GET THE INSTANT DOWNLOAD: Ed Mendlowitz’ Tax Season Opportunity Checklist Kit. FREE to PRO members.

Ed Mendlowitz, CPA and partner at Withum CPAs in New Brunswick, N.J., has survived more than 40 tax seasons and built a thriving book of business.

He knows a thing or two about how to run an office in busy season. Over the years, he has compiled this handy list of the most frequently found errors in tax return preparation:

1. Number transposition and spelling errors. This includes income and deduction amounts and client Social Security numbers, addresses and zip codes. Spelling errors should also be avoided – they indicate a lack of attention to what you are doing. READ MORE →