By Marc Rosenberg CPA Firm Mergers With 80 percent of first-generation firms never turning over to a second generation of owners, it’s no wonder that merger mania continues unabated. Each year sees increased merger activity over the one previous. “Merger mania” is particularly prevalent among the top 10 to 25 firms in the largest 75 markets in the U.S. and Canada, partly due to the “new normal” – an economy that remains too sluggish to satisfy the ambitious growth targets of these top performers. But acquiring talent and niches is equally as important a reason for mergers to these larger firms, as is increased revenue. Sellers, however, remain hesitant.
Congratulations to the winners of the Accounting Today program. The annual survey and awards program, which Accounting Today conducts in partnership with Best Companies Group, is designed to identify, recognize and honor the best employers in the accounting profession, benefiting its economy, workforce and businesses. They are:
Four issues and solutions in leadership and management. QUESTION: One of my managers is complaining that the staff don’t listen to him. The specifics are that he assigns work and it isn’t completed on time and is usually incomplete and full of errors. He says he doesn’t want to supervise people anymore. Any suggestions? ANSWER: I have many suggestions, sorted into four general areas. Here goes:
How to tweak your firm’s financials and partner performance…
Eight reasons why accounting firms need to work on internal communications first. By Bruce W. Marcus Professional Services Marketing 3.0 A terrific definition of chaos is when a client asks two different people in your firm the same question – and gets two different and conflicting answers. More for PRO members: Managing Knowledge as a Growth and Management Tool • The Secret Formula for Getting New Clients • What We’ve Learned Since Accounting Marketing Was Legalized • Do Accounting Firms Really Want an ‘Image’? • What Accounting Firms Need to Learn from Personal Financial Planning Specialists • The Delicate Art of Positioning Your Firm in the Mind of the Prospect Another form of it is when there’s a crisis, and the […]
QUESTION: I am sure you heard this before, but I just can’t seem to get on top of my work – I am always behind and in addition, my income has been dropping. I am a sole practitioner with no staff and don’t want any. I like what I do, but lately it seems I have been chasing my tail and losing some ground. My practice is 40% 1040s which are mainly done from mid-January to April 15. I do not file many extensions. Another 40% are small businesses that I work on monthly. About half I go to and the other half send in their information or QuickBooks files. 10% is payroll preparation for clients.
The main categories of information for internal communications and management. By Bruce W. Marcus Professional Services Marketing 3.0 While the substance of information varies from firm to firm, there are 10 categories that cannot go unconsidered:
By Sandi Smith Leyva With so much to do as business owners, we can get pretty overwhelmed at times. We can start believing that we have a “time” problem, but since all of us have 24/7, there really is no such thing as a time problem.
By Ed Mendlowitz 101 Questions and Answers QUESTION: I assigned four projects to a manager who reassigned them to a Staff 2 person and I gave a date when they were needed that was three weeks away. When I asked about the progress after two weeks, I was told that nothing was near completion. Now there is a super rush with much stress. How could this situation have been avoided? RESPONSE: First off – you are to blame. You did not work with the manager to see how she would assign the work and to whom.