13 Reasons Timesheets Will Never Die

Ed Mendlowitz stirs a controversy: “Even if we assume fees should be solely based on “value,” time records should be maintained.”

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Planning a Partner Retreat for Real Results

And why the best firms make them regular events.

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The Partner Compensation Checklist

It’s a process. by Gary L. Adamson Adamson Advisory There is a constant topic of conversation both inside firms and at almost every conference. It is the age-old question of partner compensation and “how do you do it”. As our firm grew, we evolved from everyone is equal, to the “slip of paper” approach, to a more goal driven, performance based system. Every firm is a little bit different but the issues surrounding how you split the pie are pretty consistent. How you choose to solve the partner comp question in your firm depends on a number of things including size, number of partners and where you are on the firm age/evolution spectrum. There is a movement to more performance [...]

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6 Steps to Get Your Business to the Next Level

Start with a vision for the role your business plays in your life. by Rick Telberg It’s said that most small businesses don’t last five years. But kudos to them; at least they tried. What concerns me are the nine in 10 small businesses that never make it past the owner-operator stage to the next level – the level in which the owner can turn the business over to someone else to operate. Tax and accounting firms may be more durable, but not by much, according to CPA Trendlines research. Some people are born owner-operators. Some want more. Today’s sermon is for those who want more. If you want to drive your firm to the next level, there are, in [...]

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Paul Dunn: CPAs Change Lives

Here the legendary practice management guru Paul Dunn previews his planned talk at the AICPA Pracitioners conference in June. And here he is delivering a TED talk: An engineer by training who quickly discovered people were more interesting than “things”, Paul Dunn began his career in technology — first at Hewlett-Packard then at an Australian computer start-up that became a $23 million enterprise. In 1980, Paul decided his real love was marketing and speaking so he formed specialist marketing company The Results Corporation — now a $20million company. In 1992, he started Results Accountant Systems (RAS) aimed at accountants. Eight years later sold his business to spend more time mentoring his friends and clients. In 2003, [...]

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The Mushroom Theory of Management

“The mushroom theory:” Keep employees in the dark and feed them crud. Well, it doesn’t work. And now there’s proof.

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Score Your Firm on Eight Critical Success Factors

Does your firm get “it”? Quiz your partners and staffers. by Edi Osborne Mentor Plus Everywhere I go, experts in the profession have a debate about what percentage of the profession really gets “it?” The veritable “it” is the future of the profession. Firms that get “it” have a good grasp on what is critical to thrive in the future. Some experts say fewer than 20% of firms get “it.” Others will stretch that number to 40%.  Only you know for sure where your firm stands (score yourself at the end). Here are eight critical areas of focus that indicate if your firm gets “it.” 1. Succession Strategy – Your firm has a clear path to succession with future leaders [...]

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