December 18, 2012 - CPA Trendlines

The Problem with Timesheets? Not Enough Timesheets!

December 18, 2012

Time tracking and the V.B.T. (Value Billing Taliban)

by Frank Stitely, CPA
Stitely and Karstetter

I have long been a true believer in value billing. Five times a day I kneel towards the east and pray, “I am not selling time. I am selling expertise.” However, I just can’t follow with the end of the prayer which goes, “Time trackers are evil. We must stone them.” Time tracking is essential to value billing, done profitably.

More unconventional wisdom from Frank Stitely, CPA: Who’s Missing in Action From Your Workflow Processing System? | How to Make an Extra $72,000 by Working Smarter

Let’s invite some people to leave our discussion. If you are a coach, consultant, or some other type of CPA advisor, who has never owned an equity position in a CPA firm, please exit stage left. Yes, I know you have decades of experience observing CPA firms. I have decades of experience watching professional football. That doesn’t qualify me to coach the Redskins. Veteran poker players know that playing someone else’s hand is easier than playing your own when big money is on the table. If you’re a CPA firm employee, please stay. Some day you’ll need this information. But sit there silently until we are done.

There are three reasons time tracking is important: READ MORE →

Seven Ways to Build the Right Culture

December 18, 2012

By CPA Trendlines Research

And five ways how NOT to implement a system of partner accountability.

august aquila - full size mug — August J. Aquila

August Aquila, a veteran practice management consultant, works globally with accounting firms on leadership and management issues. If you’re thinking about the quality of leadership at your firm, think on this.

Five WRONG ways to make partners more accountable:

Let’s make it into a checklist. One thing you can count on – accountants love checklists. It seems that a checklist is the answer to all our problems. READ MORE →

Leadership Is Overrated: It’s Good Management that Makes Successful Firms

December 18, 2012

By Marc Rosenberg

Plus: A dozen deep thoughts on leadership vs. management in accounting firms. by Marc Rosenberg, CPA Author of “CPA Firm Management and Governance” While the differentiation of management from governance is really an issue of professional jargon, a discussion … Continued

The Delicate Art of Positioning Your Firm in the Mind of the Prospect

December 18, 2012

By Bruce W. Marcus

And, it’s not a mission statement. by Bruce W. Marcus Professional Services Marketing 3.0 There is no great mystique to the marketing concept of positioning. While it’s not as simple as some would make it seem, nor as complex as … Continued

Three and a Half Ways to Get Your Own CPA Practice

December 18, 2012

By Edward Mendlowitz

And 11 good tips for once you do.

Here at CPA Trendlines, Ed Mendlowitz answers some of the toughest questions practitioners can throw at him. He’s the right one to ask. After more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, WithumSmith+Brown, where he remains a senior partner and consultant to professional services clients – he has the answers. We’re happy to have him at CPA Trendlines. Send your questions for Ed here, or chime in with Comments below.