Four Top CPA Trade Shows on the 2015 Calendar
Finding low-cost CPE, vendors with new products and services, and the chance for professional networking…
Daily Archives: December 22, 2014
Should You Buy a Practice from an Estate?
By Ed Mendlowitz
Author of “Implementing Fee Increases”
QUESTION: A widow called me to ask if I wanted to buy her husband’s practice. He died suddenly a month ago. What should I offer and how should I handle this?
RESPONSE: It is always hard to buy a practice from a widow or estate when the accountant did not make arrangements.
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The expectations of the seller are usually greater than reality, and the buyer is getting something that already has declined in value, with clients leaving as they hear of the death, and the information about client servicing is likely not too organized, if it exists at all. This also applies to a sudden complete disability. This should be a “lesson” to get your own affairs in order.
How Partner-to-Staff Leverage Drives Profits
Ratios affect income per partner, survey shows.
CPA Trendlines Exclusive
Staff sizes and, more significantly, the ratio of staffers to partners are among the most significant factors in determining CPA firm profits, according to new edition of “The Rosenberg Survey: The National MAP Survey of CPA Firm Statistics”
MORE FROM THE MAP SURVEY: Geography Plays Part in Firm Success | Financial Services Up at Largest Firms, Down at Smaller Ones | Big Firms Keep Getting Bigger
Staff-to-partner ratio is the fourth leading determinant of firms’ profitability, behind fees per partner and per staff and partners’ billing rates, says the the MAP survey team, which is comprised of compiled by Marc Rosenberg, the noted industry consultant based in Chicago, and the Growth Partnership consulting firm in St. Louis. READ MORE →