Carl George, Author at CPA Trendlines

OUTLOOK: A 40-Hour Workweek Is Feasible

Business development can be done remotely, but it can’t be skipped.

By Carl George
The Rosenberg MAP Survey

EDITOR’S NOTE: Every year, the Rosenberg MAP Survey asks the industry’s top consultants to share their observations from CPA firms across the country. How do you think the next 12 months will unfold? Also, how would you assess the last 12 months?

Firms will continue to upgrade their client profiles and disengage from clients that no longer fit. Disengagement is one of the major initiatives that must occur to meet the challenge of the “40-hour guarantee.”

MORE: Five Ways Staff Shortages Are Changing Firms Forever | OUTLOOK: Soft Skills Are Front and Center | OUTLOOK: It’s Time for a New Business Model | Rosenberg MAP: Partner Incomes Surge 11.4%
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As it was explained so eloquently by a CEO of a large firm, “We do not have a staffing shortage, we have a ‘D’ client overage!” Well said. Traditionally difficult for us to do, but we do not have the option of not executing this critical strategy.
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FEATURED

OUTLOOK 2023: Compensation Gets Creative

Accounting will be an attractive career choice again.

By Carl George
The Rosenberg MAP Survey: National Study of CPA Firm Statistics

There has and will continue to be a significant number of private equity transactions. As with any major shift of ownership in the past, there will be some fallout – partners, staff, niches, clients, etc.

MORE: OUTLOOK 2023: The Office Is Over | 2023 OUTLOOK: Private Equity Comes for Accounting Firms
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That is natural as what we will witness is the creation of new firms and opportunities for those who choose to depart. Just look at the new firms that have started in the last five years – that is one way the profession stays young, fresh and entrepreneurial – new players practicing in different ways.
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FEATURED

10-Point Plan for the Year Ahead

Ramping up for 2022.

By Carl George
For the Rosenberg MAP Survey

I can safely say that we have never been more valuable to our clients than we have been in the past couple of years.

MORE: Three Ways the Accounting Profession Has Changed | Accounting Will Never Be the Same
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In many cases, the firms were “lifesavers.” For those firms and practitioners, client loyalty will remain very high for years to come.

FEATURED

Remote Work Success Helps Solve Staffing Shortages

Tax reform boosted those ready for consulting.

By Carl George

The two most significant changes that I have seen so far are:

“COVID has forced us to run our businesses better!” With so much being unknown when COVID first started, many firms developed plans and forecasts under numerous disaster scenarios. Accountability (and in some cases, behavior changes) of each owner was essential and I have seen many firms “pay more attention” to running the business. I believe these changes will become permanent.
“We became more comfortable with our technology capabilities and it saved us!”

MORE: COVID-19 Shakes Up M&A Activity | We’re in the Fast Lane… Can Your Partners Keep Up? | SURVEY: 2020’s Disruptions Are Only the Beginning | COVID Brought Us More and Better Client Communication
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The most significant change we will see long-term will be a significant portion of a firm’s practice will be accomplished by a permanent remote work force – at least 25 percent. We have seen that it works, we will continue to refine the model, and firms will be more efficient and profitable once the final model is in place.
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FEATURED

2020 Outlook: Balance Advisory and Compliance

3 solid strategies.

By Carl George

Tax reform – opportunity or burden?

MORE: 2020 Outlook: Talent Shortage Drags On | Demand Is High | Business Development Goes Borderless | Data Import on the Rise | Becoming the Most Valuable Advisor | Top Three Tips for 2020 Success | Where Do You Want to Be? | Dicey Disruptions | Upstream Mergers | Staffing Gets Creative
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The prevalent theme throughout the 2019 tax opportunity season was “…the hardest tax season that I have ever encountered!” System issues. Cyber issues. Tax reform. Changing/last-minute regs.
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FEATURED

2019: Three New Trends to Watch

After profitable years, here’s where to invest.

By Carl George
The Rosenberg Survey: National Study of CPA Firm Statistics

For the most part, it was a very successful year. Profitability improved enough that allowed partners and employees to share in the increases, and ample allocations were made for investments, primarily in personnel benefits and technology. Growth in net fees ranged generally from 5-9 percent, so many firms are experiencing top- and bottom-line growth.

MORE FROM THE MAP SURVEY: 2019: Why Small Firms Shun Mergers | 2019: Using M&A to Launch Consulting | 2019 Trends: Client Service Changes | Staff Policies Improve, But Not Mentoring
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There are three trends developing that will benefit firms for many years to come:

FEATURED

Leadership Taking Different Forms

“An effective MP 15-20 years ago does not necessarily spell success today.”

By Carl George
Rosenberg MAP Survey

Looking back to 2016 and onward, I see some very positive trends with the dynamic CPA firms, as they position to continue their firm legacies.

MORE FROM THE MAP SURVEY: Staffing and Succession Still Rocking Firms | Tech Advances Will Lead to Dichotomy | Be a Consultant or Be Left Behind | Survey: Many Firms in Transition
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First, our next wave of leadership in the profession is incredibly impressive. I have complete faith in our current and future Gen X and millennial leaders. They are assuming their positions with the energy and drive that is essential to achieve new levels of firm success. Most importantly, they want to drive change when change is needed.
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OUTLOOK & ANALYSIS

Many Firms Have Already Lost the Battle with Succession

Doomed by outdated retirement formulas.

By Carl George
The Rosenberg MAP Survey

Firms are continuing to struggle with succession of the partner group exiting the profession.

MORE FROM THE SURVEY: Recruiting and Retention Are Challenges | Technology Will Solve Labor Shortages | Cybersecurity Grows in Importance | Don’t Just Win Work, Figure Out Why | Mergers Keep Racing Forward | MAP Survey Top 10 Findings
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While I would hope these issues are being resolved, I really wonder if it’s not too late for many.
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Carl George

MORE AT STORE.CPATRENDLINES.COM

Since his retirement from CliftonLarsonAllen in December 2012, Carl George continues his work on practice management issues as a consultant to CPA firms through Carl George Advisory, LLC, formed in January 2013.

When Carl started with Clifton Gunderson in 1971, the total firm value was $1.8 million, and when he stepped out of the CEO role in a planned succession in 2009, Clifton's volume was $250 million. Carl served 13 years as COO and 16 years as CEO of Clifton Gunderson, with his last three years as Senior Executive Partner focused on CPA firm acquisitions and consulting with CPA firms. Carl was part of the team that completed the CliftonLarsonAllen (CLA) merger (combined volume of $550 million) in January 2012.

As CEO for Clifton Gunderson, Carl was recognized numerous times by Accounting Today as one of the Top 100 Most Influential People in Accounting. He is a former board member of the American Institute of Certified Public Accountants (AICPA) and is passionate about solving the nation's financial literacy crisis, having chaired the AICPA National CPA Financial Literacy Commission for five years. He also served on the AICPA MAP committee for six years, three as chair, and has served as a speaker or moderator at many conferences and retreats on practice management issues and solutions.

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