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.
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About the Author
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.Click here for more by Carl George