Today's Features

CPA Firm Partner Performance: Different Activities, Different Metrics

Businessman sitting on scales with stack of coins in other trayWith breakouts by clients, people, and firm.

By Domenick J. Esposito
8 Steps to Great

There are a variety of ways to measure these differing activities or capabilities for partners and team.

MORE ON STRATEGIC PLANNING: 6 Measures of Partner Performance | How to Drive Partner Performance with a Smart Compensation Plan | 3 Tools to Boost Your Metrics | Start with Sound Firm Governance, Economics | As Tax Season Ends, Strategic Planning Seasons Begins
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But some are better than others.

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Communicate Your Worth and Value

Smiling businesswomanPut it all together for both clients and coworkers to see.

By Martin Bissett
Passport to Partnership

An advisor is trusted when they can show that they

  • took responsibility for their end of the bargain in the client engagement,
  • educated the client of their responsibilities,
  • offered prompting and assistance throughout but then allowed the client to ultimately govern themselves in terms of following through on their commitments.

MORE ON THE PASSPORT TO PARTNERSHIP: 5 Ways to Evaluate Your Communication | Why Communication Matters So Much | 3 Questions to Evaluate Your Firm Culture | Competence: More Than Technical Skills | Are You Partner Material? Maybe Not
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This then empowers the advisor to make a commercial decision when the client now faces the consequences, as to whether they want to communicate even more assistance to make things all better for the clients and gain huge appreciation and emotional capital.
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Are Accountants Learning the Wrong Lessons?

https://www.research.net/r/CPE16
Tooling up for 2017: Join the survey, get the results.

CPE choices fail to address the real keys to success.

By Rick Telberg
CPA Trendlines Research

CPAs are saying one thing and doing another. And the discrepancy bodes ill for the profession's economic health.

MORE CPE TRENDS:  CPE Study Finds Six Essential Success Factors for Accounting Firms  |  Top Trending Specialty Niches  |  Busy Season Ends but Not the Focus on Taxes  |  Why Some CPAs Are Focusing on Accounting & Financial Reporting This Year  |  Top CPE Trends: How Accountants Are Re-Tooling for 2017  |  Mike Ramos on The Training Mindset: Mapping Firm Attitudes to Performance  |  Ohio CPA Society Teams with CPA Trendlines to Improve CPE ROI  |   Ed Mendlowitz on How to Choose the Right CPE  |  Sandi Leyva on Three Ways to Make CPE Work for You  |   Ed Mendlowitz on The Six Rules To Get the Most Out of CPE  |   Mike Ramos on How to Build a Powerhouse Learning Team for Your CPA Firm  |  4 Steps to Get More from Your Training Budget  |  How to Manage CPE by the Numbers  |  Three Tips for Creating Training Metrics  |  High-Impact Learning: 4 Ways to Maximize CPE ROI  |  Four New CPA Opportunities for the New Economy

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The survey on professional skills and the goals of accounting firms, being conducted with the Ohio Society of CPAs and consultant Michael Ramos, is turning up a curious mismatch. It seems, at first blush, that CPAs are studying for certain skills while reporting that something else is essential to their success.

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Use Payroll to Grow Client Retention

Head shot of Jake Haffner
Haffner

Why you might want to and how software can help.

By Sandi Leyva and Michelle Long
The Ultimate Accounting Virtual Conference

Forty percent of small businesses say bookkeeping and taxes are the worst part of owning a business. Ultimately that’s what each of us here can really help small businesses with. The payroll tax component is definitely something a small business owner isn’t going to want to focus their time on and so it’s an opportunity for you to use your skill set.

MORE SMALL FIRM GROWTH STRATEGIES: When You Should Answer Questions for Free | 2 Ways to Serve Clients Better | How to Fire a Client | How to Manage Client Expectations | Trashing the Spreadsheet: Best Practices in Modern Expense Management
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We’re talking about having payroll become profitable for your practice. Helping us today is Jake Haffner, a CPA and payroll expert who works with ZenPayroll.
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How to Build a Strong Landing Page for an Accounting Firm

Young businesswoman using a tabletDeliver on your promise to get the permission you need.

By Becky Livingston
The Accountant’s Social Media Handbook

What are landing pages?

MORE ON SOCIAL MEDIA: Social Media Campaign 101 | Content Categories and How to Leverage Them | How to Manage Social Media in 22 Minutes a Day | Use Finesse in Sharing, Scheduling Content | How to Schedule and Manage Social Media Activity | How Social Media Works with Accountants’ Top 5 Marketing Goals
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The challenge with the website home page is that there’s often a disconnect with the messaging. If you send out an email about the best tax practices for small business owners, sending visitors to your firm’s home page isn’t giving them the content that was promised.
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The Four Basic Parts of CPA Firm Partner Agreements

Time to retire clock faceIt's complicated. But proper policies ease buyouts and transitions.

By Bill Reeb and Dominic Cingoranelli
CPA Trendlines / Succession Institute

Here is a list of common policies regarding partner/shareholder agreements that we cover with our firms, as well as some common issues that are important to address in the policies.

MORE ON PERFORMANCE MANAGEMENT: Developing a Three-Year Vision [VIDEO] | Why the Partner Agreement Matters | Younger Partners See Succession Differently | How to Compensate Your Managing Partner | The Job of Managing Partner: Empowered or Emasculated? | How the Best Managing Partners Turn Ideas into Reality | How Retired Partners Are Robbing their Own Firms | Action Plans for Transitioning Partners | How Retirement Issues Affect Succession Planning | Develop Your Employees or Suffer the Consequences
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The SOP (standard operating policy) categories are:
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When Partners Leave

Man taking medication from caretakerSet policies now based on business, not emotion.

By Bill Reeb and Dominic Cingoranelli
CPA Trendlines / Succession Institute

Let's review departure/termination policies.

MORE ON PERFORMANCE MANAGEMENT: The Four Basic Parts of CPA Firm Partner Agreements | Developing a Three-Year Vision [VIDEO] | MPs: How to Elect Them … and Fire Them | Firms Say What Would Change Retirement Pay | Action Plans for Transitioning Partners | How Retirement Issues Affect Succession Planning
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These may include:
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How the Best CPA Firms Capture Best Tech Practices in Procedures Manuals

Process Touch Screen Showing Workflow DesignAllot hours weekly until everyone is educated.

By Roman H. Kepczyk
Quantum of Paperless

Every firm has accountants who are 10 percent, 20 percent or even 50 percent more productive in their departments than other personnel because they have simply “figured it out.” Unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them.

MORE ON TECH SPENDING: Going Digital: How to Train a Client | Front-End Scanning Hits the Mainstream | Don’t Just Store Documents, Manage Them | Which Wireless Depends on Location | Stay on Top of Software Updates | Update Your Backup
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It is the responsibility of firms to capture these individuals’ best practices so that their knowledge can be shared and accessed by all firm members both now and in the future. This can be accomplished by making a concerted effort to develop a best practices manual within each department.
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Personal Tech in Rio: Top 4 New Gadgets

Smart cycling glasses
Smart cycling glasses

The coolest cool tech that made it to Rio.

By Rick Richardson
Technology This Week

The 2016 Rio Olympics are how history and there was no shortage of tech at this year's event. Athletes used all kinds of gadgets to help them train and stay fit, from heads-up displays used by cyclists to jump trackers worn by the volleyball team.

MORE TECH THIS WEEK:  MIT’s New Device Measures Power Used by Each Device in Your Home  |  Flaws in Wireless Keyboards Let Hackers See Everything You Type  |  Floor Tiles that Translate Steps into Power  |  Samsung’s $1 Billion Bet on ‘Internet of Things’  |  Google’s Modular Smartphone  |  6 Big Changes Coming to Android Phones  |  New iPhone Case with Built-in Photo Printer  |  Foldable Samsung Concept Phone Doubles as a Tablet  |  More than Just a Phone Case: An Extra Touchscreen  |   App Wants to Be the Uber for Filing Taxes  |  Gadget Turns Your Smartphone into a 3D Printer   |  Tabletop-Sized Touchscreen |  Beware! Public Wi-Fi Is Just Not Secure  |  ZTE Announces New Tablet-Projector Hybrid at Barcelona  |

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Some of them may even  find their way to your office some day. Here are a few of that gadgets hat made it to Rio: READ MORE →