CPAs like to get together to compare notes and try to solve the world’s problems. At one of these meetings, a fine group of partners were discussing their teams, especially in light of the recession.
When the discussion turned to the current economy the general consensus was that this was an appropriate time to reduce overhead by firing marginal team members – thinning the herd. I have two very significant problems with this concept.
Long known for our inability to communicate effectively either orally or verbally (yes there is a difference) as accountants we’ve found new facades to hide behind. Our communication with our clients is typically limited to brief general conversations, and written communications mandated by professional standards, such as engagement letters. The email / text message / voice mail have supplemented the traditional letter facilitating the anonymity so many in our profession seem to prefer, with the frequent result being misunderstanding or no understanding at all. Read more…
In the years since I began practicing, our profession has changed radically. I do not want to sound like my parents and grandparents who lamented the passing of the nickel candy bar, 1 cent stamps, and walking to and from school ( up hill, both ways in the snow of Southern California), but are we progressing or regressing in terms of advancing the profession of public accounting and making it an attractive career? What are the underlying currents that influence or even drive change? Read more…
Last week we were informed we had been selected by Accounting Today as one of the top accounting firms to work for in the United States. I understand there will be an article published in January, 2009. How did we go from being a firm that had the universal difficulty of other accounting firms – attracting and retaining top talent – to being named to such a prestigious club in four years?: We changed our business philosophy, and consequently our overall approach to providing service, after following the traditional accepted approach for 25 years. Read more…
If not, then why do you think you can do your own marketing effectively? If your firm is like most firms, you periodically find yourself in need of legal representation, investment advice, insurance analysis, etc. In most cases, you will retain a professional to help guide you. We’ve had great counsel from many sources over the years, yet for many years when it came to one of the most fundamentally important functions critical to our healthy growth – marketing – we did it ourselves. And not particularly well.
Simplistically there are three aspects to a successful growth plan from a marketing perspective Read more…
Did you suck at ‘Economics’ in college. I did. So when my friend and mentor, Ron Baker, recommended that I read The Economic Naturalist by Robert Frank, I smiled politely, assured him I would, and then blew it off. (I did buy it, just so I could document my intent and not feel entirely guilty for lying through my teeth.) Last week, I again found myself in an airport, having mistakenly thrown this tome in my computer case, thinking it was an adventure novel. With no other entertainment, besides trying to determine which passenger had the worst hang-over in the Las Vegas airport, I read the book. Read more…
In the December 17, 2007 issue of Accounting Today, Gary Boomer asked three questions in his article titled Pricing and Partner Compensation. (1)Does your firm have a documented strategic plan; (2) Does our partner compensation system integrate with the strategic plan, and; (3) Am I still pricing by the hour?
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