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.
Don’t focus on what’s average. Be exceptional.
By Marc Rosenberg
The Rosenberg Survey
I have never ceased to be amazed at the lack of understanding that partners – including Managing Partners – have about reading a MAP Survey and computing MAP statistics. These difficulties prevent partners from properly using a MAP Survey for the purpose for which it was intended: to improve firm performance. Here are some of he biggest mistakes I see again and again:
What makes an accounting firm great? by August Aquila Aquila Global Advisors Too many firms don’t give a lot of thought to the question.Their main concern is surviving. But the sooner a firm can start focusing on what makes a great partnership, the better off it will be. Think about this, if you don’t address this question, how will you know if you are admitting the right types of partners? What technical and personal skills would you want? What personal values (character) would you look for? Here are seven characteristics that form the foundation of a great partnership. If you are missing any of them or if you merely need to improve in some areas, now is the time to start strengthening your firm’s foundation. READ MORE →
Last chance to take care of yourself, your career, your firm — before busy season begins.
Despite economic recovery, many firms seem unable to capitalize on new opportunities. Click here to join the Tax Season 2011 survey; get the results.
Tax accountants are finishing the 2011 busy season with stronger results than they expected, but – perhaps surprisingly — not as strong as last year, despite somewhat improved economic conditions.
CPA Trendlines research suggests that many accounting firms may have over-reacted to the 2007 market crash by cutting staff and billing rates, leaving them unprepared to capitalize on the opportunities of the 2011 recovery.
Marc Rosenberg, author of The Rosenberg MAP Survey, says too many CPA firms fail to heed their own advice to clients: They don’t run their firms like a business.
Get it right or get “a guaranteed recipe for under-performance.” Finance and accounting leaders can’t develop and execute effective strategy without first gathering the right information, says Harvard Business School professor Robert Simons, a Canadian chartered accountant. In his … Continued
Firm of the future will shift focus from what it does to what the client wants. Edi Osborne of MentorPlus is on a mission, a mission to transform the profession one firm at a time to a client-centric business model. … Continued