New Firms, New Ketchup Bottles
Jody Padar, The Radical CPA, finds a lesson for CPA firms in a ketchup bottle.
Daily Archives: June 23, 2015
Passport to Partnership: New Research Shows Wide Gap between Partners and Partners-To-Be
What we have here is a failure to communicate.
Editor’s Note: With this article, CPA Trendlines introduces a new series of articles by Martin Bissett reporting on the findings of his proprietary research into the keys to making partner. The research is based on hundreds of interviews with partners and practitioners at more than 30 firms in the U.S. and the U.K., dozens of experts and advisors, and his own 20 years of experience in the field. In his research, Bissett uncovered a wide gap between what partners say they seek in a staffer yearning to be partner and what they actually do and say to train and nurture the staffer. His work in Passport to Partnership is dedicated to bridging that gap, revealing to both partners and partners-to-be the unspoken rules, and working to create a bulletproof program to guide their efforts.
By Martin Bissett
Passport to Partnership
Have you ever wondered what the partners of your firm are looking for from you, beyond your technical abilities?
For full disclosure, I am not an accountant, but I have spent decades working with accounting firms of all shapes and sizes in the United Kingdom, the United States and Europe.
MORE FROM MARTIN BISSETT: Selling on Value vs. Fees | 3 Ways to Convert Scheduling Practices to New Fees | Selling vs. Attracting to Build Relationships | When Selling, Don’t Chase New Fees, Attract Them | Selling Accounting Services Doesn’t Have to Be Hard! | ‘Selling’ Isn’t a Dirty Word | 8 Factors in Practice Development Success | In Sales, Perception Is Reality | Success Begins With Accountability | Do You Realize You’re Failing? | Winning Your First Client
I noticed over time that in many firms, partners may often regard one or more of their managers as not being “partner material” because they feel that the manager does not exhibit the traits they are looking for.
Can Accountants Save the Planet?
‘We must find new ways to measure economic costs and the changes in the economy.’
By Edward Mendlowitz, CPA
Worth Reading: “Six Capitals, or Can Accountants Save the Planet?: Rethinking Capitalism for the Twenty-First Century” and “Double Entry: How the Merchants of Venice Created Modern Finance,” by Jane Gleeson-White
The history of accounting is a fascinating drama and Jane Gleeson-White brings it to its thrilling heights. 
I recommend both “Double Entry” and “Six Capitals” by Jane Gleeson-White, but for different reasons.
“Double Entry: How the Merchants of Venice Created Modern Finance,” is really two separate books – one an exciting history and the other a disturbing condemnation of the way the method of financial measurement has progressed. I also recommend “Six Capitals” if you want to find out more about her ideas, which is pretty deep stuff.
Tax Leads Accounting Industry in Price Hikes
Accounting industry shows healthier pricing power than most other industries — and its own clients.
NEXT QUESTION: Which pricing strategies are best for today’s market? Join the survey; get the answers.
By Rick Telberg
CPA Trendlines Research
Following hefty hikes in billing rates during tax season, the tax, accounting and bookkeeping industry is pushing through price increases three times faster than the rest of the nation’s economy, according to a new CPA Trendlines study.
MORE: Fees and Pricing Reports for PRO Members Only
Learn more: Go PRO here
While most other industries — and, by implication, most of the profession’s clients — are barely managing to maintain price levels, the accounting industry is forging ahead aggressively. The industry’s powerful position in pricing suggests huge demand for the complex services that only accountants can provide. And many practitioners appear to be taking every opportunity possible. To be sure, costs are rising as well, with talent, technology and retirements putting pressure on many firms.
In this report, CPA Trendlines analyzes pricing trends and billing rates for:
- CPA firm services in general,
- Auditing and assurance services in particular,
- Tax preparation and planning, and
- Bookkeeping and compilations
Get Ahead of Your Software Updates
Bottom line? You’ll be more productive.
By Roman H. Kepczyk
Quantum of Paperless
Every firm has concerns about their systems being hacked or getting attacked by a virus or malware. The vast majority of issues can be effectively negated with one simple process: KEEP YOUR SOFTWARE UPDATED.
MORE ON TECH SPENDING: Blame Accounting Vendors: Accountants Stuck with Outdated Versions of Microsoft Office | Ready or Not, Here Comes Windows 10 | Back Up and Check Your Backup | Cloud Computing Can Cost Less | Laptop-Only Workers More Common | Scanners Allow Data Capture at the Source | In PC Monitors, More Is Better
For workstations, your antivirus software should regularly look for updates and automatically install them. Microsoft Windows has an update feature that can be set to automatic for security upgrades. Turn them on and schedule them to run automatically, either overnight or on weekends. READ MORE →