Rosenberg Invites Partners to Join Comp Study
Results to help firms determine changes for their partner income allocation systems.
SURVEYS & RESEARCH
The 12 Big Questions for 2023
Accounting leaders say these are the issues firms must face.
By CPA Trendlines Research
As Gale Crosley of Crosley+Consulting notes in the 2022 Rosenberg Survey, we are in the midst of “an unusual year of high uncertainty, unpredictability and sapped energy among our profession’s leaders.”
MORE TRENDS & OUTLOOK for 2023: The Biggest Change in Accounting? Personnel | Look Who’s Making Money Now | Merger Minded? Go Out on Top! | Capacity Strategies Drive Change | Who Wants to Be Partner? Not Enough | Private Equity Heats Up M&A | Top Five Trends | Compensation Gets Creative | CPA Partners Rejoice on Surging Fee Growth | The Office Is Over | Accounting Firms Face Up to Private Equity | IRS Hires Will Add Pressures | Consolidation Brings Challenges, Opportunities |
Exclusively for PRO Members. Log in here or upgrade to PRO today.
Yes, indeed. The profession, once characterized as staid and stable, has been hit by a confluence of what Crosley calls “four major thunderbolts,” to wit:
OUTLOOK: The Biggest Change in Accounting? Personnel
Four ways to address the talent shortage.
By CPA Trendlines Research
The Rosenberg MAP Survey: National Study of CPA Firm Statistics
The accounting industry has just begun to make its most radical change.
- It isn’t the tech.
- It isn’t the shift to advisory services.
- It isn’t the remote offices.
- It isn’t the mergers and acquisitions.
It’s all those things, plus what they all add up to: personnel.
MORE: Four Accountability Steps for Firm Success | How to Build a Standout Team | Five Keys to Becoming a High-Performing Firm | Assessing Your Firm | The 4 Traits of Great CPA Leaders | Why Leaders Must Ensure Clarity | Incremental Vs. Exceptional Success
The industry has been suffering a shortage of professionals for many years now. Decades. Everybody talks about it, but nobody is doing much about it … until now. And, according to Charles Hylan’s Foreword to The 2022 Rosenberg Survey, the solution is a combination of several significant changes.
Accounting Staffs Grow 4%; Pay Rates Surge 8%
Weaker signs in tax and payroll.
By CPA Trendlines Research
It’s not a bad time to be an accountant.
The accounting sector is charting stable, predictable expansion in an uncertain economic environment, with some signs of weakness in tax prep and at payroll agencies, according to a new CPA Trendlines study.
MORE: Headcounts Grow 5%; Pay Rates Surge at 7% Pace | CPA Staff Wages Hit New High and Keep Climbing | Firms Battle Staff Shortages with Pay Hikes | Tax & Accounting Firms Beef Up Wages and Headcounts | Employee Counts, Earnings Rise
We report here on the accounting profession as a whole as well as:
- CPA firms
- Tax preparation services
- Payroll services
- Bookkeeping
- Women
Who Wants to Be Partner? Not Enough
Anybody? Anybody? Bueller? Please?
By CPA Trendlines Research
As if the general and long-term shortage of accountants isn’t bad enough, now we’re seeing a widespread reluctance to take the final step in an accounting career, the step into partnership.
MORE: OUTLOOK 2023: Compensation Gets Creative | What New Leaders Want in Ownership | Getting Partners to Accept a New Pricing Philosophy | Survey Results: Partners Rejoice on Surging Fee Growth | Headcounts Grow 5%; Pay Rates Surge at 7% Pace | Fourteen Rules for Lateral Partner Hires
This is serious. According to the 2022 Rosenberg Survey, a quarter of all partners are over the age of 60 and either near or past many mandatory retirement ages. Many have sold their equity yet continue to work just to help their own firms grapple with personnel shortages.
But nobody works forever.
The 12 Big Questions for 2023
The questions aren’t new, but the answers should direct your strategy.
By CPA Trendlines Research
The Rosenberg MAP Survey: National Study of CPA Firm Statistics
As Gale Crosley, of Crosley+Consulting, notes in the 2022 Rosenberg Survey, we are in the midst of “an unusual year of high uncertainty, unpredictability and sapped energy among our profession’s leaders.”
MORE OUTLOOK 2023: The 12 Winning Traits of a Great CPA Firm | What Accounting Firm Start-Ups Are Doing Right | Workflow Is a Problem. So Why Aren’t Firms Buying Solutions? | Top Five Trends | Compensation Gets Creative | CPA Partners Rejoice on Surging Fee Growth | The Office Is Over | The Great Resignation or a Reshuffling? | Accounting Firms Face Down Private Equity |
The profession, once characterized as staid and stable, has been hit by a confluence of what Crosley calls “major thunderbolts,” to wit:
- disruptive technologies
- shifting economic conditions
- non-traditional competition
- fast-moving regulation
- extensive talent constraints
- work-from-anywhere options
- unexpected market demand
- private equities investing in firms
- baby boomer retirements
OUTLOOK 2023: Compensation Gets Creative
Accounting will be an attractive career choice again.
By Carl George
The Rosenberg MAP Survey: National Study of CPA Firm Statistics
There has and will continue to be a significant number of private equity transactions. As with any major shift of ownership in the past, there will be some fallout – partners, staff, niches, clients, etc.
MORE: OUTLOOK 2023: The Office Is Over | 2023 OUTLOOK: Private Equity Comes for Accounting Firms
That is natural as what we will witness is the creation of new firms and opportunities for those who choose to depart. Just look at the new firms that have started in the last five years – that is one way the profession stays young, fresh and entrepreneurial – new players practicing in different ways.
READ MORE →
Survey Results: CPA Partners Rejoice on Surging Fee Growth
Even COVID couldn’t quiet the cash.
By CPA Trendlines Research
The Rosenberg MAP Survey: National Study of CPA Firm Statistics
How to explain that giddy feeling in the bellies of accounting firm partners? It’s a plentitude of moolah.
MORE: IRS Audit Rates Are Dropping, and Big Earners Couldn’t Be Happier | Six More Ways to Fix the IRS | Is Remote the New Normal? | Accounting Pros Face Challenges in Turbulent Times | Your Tax Season Success Plan Starts Here, Now | Tax Prep Fintech Startup: April Raises $30 Million | Accountants Agree: The Top Five Ways to Fix the IRS
Revenue growth has been pretty decent for the last ten years. Even when it was down, it was up, that is, well above inflation. But the most recent results fro the new Rosenberg National MAP Survey show thrilling leaps for firms of all sizes.
Some of the apparent growth, however, is relative to a dip in the previous year.