outlook

On new leaders, staffing, ex-partners, and four new predictions.

by Rita Keller
ritakeller.com

Analysis

Women — The area of retaining and promoting females in public accounting continues to be a big challenge for many firms.

I like to compare it to life, in general. Men always have been and continue to be puzzled by women. In the business world, there have been many great books written to help women better fit into the game of business. The much talked about book “Lean In” by Sheryl Sandberg (COO of Facebook) is an example. The biggest challenge in public accounting is getting women and men to read such books. READ MORE →

As one generation ages out, a new one reshapes the future of the profession.

See the complete 2014 Roundtable

By Tim Michel
Michel Consulting Group

Analysis

Firm growth has improved overall from the last several years and firms are increasing profitability again. But firms are dealing with several major issues, some brought about from the recession, and some brought about from their internal circumstances.

The recession caused many firms to cut back on staffing and hiring. Their partners and managers recorded more charge hours as they felt they needed to be more productive and often did not have the staff to delegate to.

In the last year, many firms are flnding they do not have the staffing model they need to continue to grow. It seems every firm is looking for that three- to five-year person, especially in the tax area. READ MORE →

Passion. Succession. Growth.

See the complete 2014 Roundtable

By August Aquila
Creating the Effective Partnership

Analysis

The biggest issues that I am seeing revolve around partner engagement (commitment), succession issues and growth. The economy has been pretty much in a no-growth environment the last 12 months.

Markets are becoming saturated by the national and super-regional firms. Many secondary markets now have five or more of these players going after the same clients. The result is that this competition drives down fees and we are training clients to constantly go out for bids.

Outlook

I personally don’t see a lot of change in the economy in the near future. Succession, growth, commitment will continue to be major issues for a lot of small to mid-size firms.

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Next-gen leapfrogging. Aggressive pricing. Widening gaps.

See the complete 2014 Roundtable

By Jeff Pawlow
The Growth Partnership

Analysis

The demographic tsunami is upon us with firms finally being forced to face what the successor generation is going to look like. Loyal technicians are next in terms of tenure, but I see many next-gen practitioners leapfrogging these long-term managers / non-equity partners and landing in key firm leadership roles instead.

Opinions are mixed when it comes to the overall economic outlook. The recession may be falling behind us but Main Street doesn’t seem to have recovered as quickly or as deeply as in the past. As a result, we continue to see very aggressive pricing in the market, which is placing pressure on some long-held client relationships.

Outlook

Anecdotally, we see the business development and leadership development areas of our practice growing, which suggests a deeper level of engagement by most firms in these areas going forward into 2014. READ MORE →

Mandatory retirements.

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By Allan Koltin
Koltin Consulting Group

Analysis

First — People, people, people. I believe the white gloves have officially come off when it comes to recruiting talent from other firms in our industry. I’m seeing much more sophisticated strategies in terms of how firms target talent and, more precisely, go after that talent. READ MORE →

Not so sure, however, about their clients or the rest of the U.S.
Click here to take survey and get the results.

Tax and accounting professionals are entering 2013 with deep concerns about the U.S. economy, but are more confident about their abilities to survive and thrive nonetheless, according to a new CPA Trendlines poll.

The poll compares the industry’s confidence levels for the economic outlook in four areas: themselves and their families, their firms or organizations, their clients and customers, and for the nation in general. The discrepancies are sometimes jarring – and their remarks reveal much about the industry’s psyche, as well as some business strategy. READ MORE →