Archive for the ‘Helpful Information’ Category

Tuesday, July 3rd, 2018

Talk With Your Team About Purpose

“The purpose of your business should be as clear as the name on your building, not another page in your HR handbook.” – William Vanderbloemen

Yes, talk to your team about the firm’s purpose. However, the ownership group better talk about it first!

Have you really given any thought about the purpose of your firm?

A recent study from Korn Ferry showed that companies with teams focused on their organization’s purpose had annual growth rates nearly three times the annual rate for their entire industry.

The survey also showed that 90% of people who worked in a purpose-driven organization reported feeling engaged in their work.

Forbes.com contributor, William Vanderbloemen, CEO of Vanderbloemen Search Group (an executive search firm focused on churches) discusses the great impact of focusing on purpose. Read his Forbes article here.

Do CPA firms have a strong purpose? You bet they do! I talk to a lot of CPAs and the thing they love the most is their clients. When I ask managers and staff of public accounting firms what they like best about working at a firm they almost always name “the clients” first.

CPAs are the most trusted advisor. They help businesses and individuals become more successful. They help family businesses survive. They help transition businesses from generation to generation. They help clients better understand tax issues and accounting practices. The healthier the business community, the healthier the community. CPAs play a huge role in that.

I know you can add to this list of what you do but do you talk about it? Do you identify your purpose and keep it in front of your employees? Are you persistent in pushing the importance of your core values? Are the core values meaningful and understandable? I admire the values of Mr. Vanderbloemen’s firm:

  • Broadband Love
  • Unusual Servanthood
  • Wow-Making Excellence
  • Ridiculous Responsiveness
  • Solution-Side Living
  • Ever-Increasing Agility
  • Stewardship of Life
  • Constant Improvement
  • Contagious Fun

Learn more about each value by visiting the website. It is under the “About” tab. For example, Solution-Side Living means:  The Vanderbloemen team members are problem solvers, always having a solution mentality and not a victim mentality.

They actually all nine of their core values them painted on a wall in their staff meeting room – covering the entire wall in big letters of different styles and sizes.

Take steps this summer to better define your culture. Make it a purposeful culture. Identifying your core purpose is not enough. It requires a deep and abiding commitment from the top. Your purpose needs to be visible in all your actions and activities from hiring people to serving clients.

 

  • The purpose of life is not to be happy. It is to be useful, to be honorable, to be compassionate, to have it make some difference that you have lived and lived well.
  • Ralph Waldo Emerson

Monday, July 2nd, 2018

The Best Way to Train New Staff

“The greatest education in the world is watching the masters at work.” – Michael Jackson

Several years ago I heard Dustin Hostetler, Chief Innovation Officer at Boomer Consulting, talk about a method of training that he thought would be greatly beneficial to the CPA profession.

It is a simple, 4-step method but seems to make so much sense for interns and new hires working in accounting firms.

  1. I do – You watch
  2. I do – You help
  3. You do – I help
  4. You do – I watch

Here’s a short video with the complete explanation.

  • Learning is not watching a video, learning is taking action and seeing what happens.
  • Seth Godin

Friday, June 29th, 2018

Flashback Friday – Are You Making Excuses?

“If you really want to do something, you’ll find a way. If you don’t, you’ll find an excuse.” – Jim Rohn

Do you procrastinate? Be honest.

Read this flashback post from June 2016.

  • I am convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.
  • Steve Jobs

Thursday, June 28th, 2018

Reminder – Participate in the Rosenberg Survey

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to participate in the Rosenberg Survey!
The Rosenberg Survey, a comprehensive benchmarking study for CPA firms, is now open for participation. Our Survey is nearly 200 pages, full of dozens of metrics, ratios and analyses of accounting firm financial performance. Participate and receive valuable data to help guide your firm.
Thank you to those who have already participated!
The fee for the Survey is $400. For questions, please contact us at (314) 209-0922 or email chylan@rosenbergsurvey.com.

Wednesday, June 27th, 2018

Top Firms For Women – 2018

“A woman is like a tea bag – you can’t tell how strong she is until you put her in hot water.” – Eleanor Roosevelt

Each year I look forward to the release of the Accounting MOVE Report. In conjunction with the report, the names of the top accounting firms for women are also announced.

Here’s the 2018 list:

  • BPM (San Francisco)
  • Brown Smith Wallace (St. Louis)
  • Clark Nuber PS (Bellevue, Wash.)
  • CohnReznick LLP (New York)
  • Kerkering, Barberio & Co. (Sarasota, Fla.)
  • Lurie LLP (Minneapolis)
  • MCM CPAs and Advisors (Louisville, Ky.)
  • Moss Adams (Seattle)
  • Novogradac & Company LLP (San Francisco)
  • Plante Moran (Southfield, Mich.)
  • Rehmann (Troy, Mich.)
  • The Bonadio Group (Pittsford, NY)
  • When a woman is talking to you, Listen to what she says with her eyes.
  • Victor Hugo

Tuesday, June 19th, 2018

You Will Be Receiving Performance Feedback. Are You Prepared?

“Don’t spew about your weaknesses. Affirm your aspirations.” – Dan Rockwell

It’s that time of year. Firm leaders are gathering and preparing feedback information to communicate to various team members.

You are a various team member. What are you thinking? How are YOU preparing?

I have conducted a huge number of performance feedback sessions during my decades in public accounting and I have always been surprised and impressed when the team member had actually taken time to prepare.

Be prepared to talk about the future and don’t dwell on the past. Be prepared to talk about all the good or even outstanding things you accomplished in recent months. Everyone has weaknesses. Acknowledge them and work on them but start a conversation about your career progress, what excites you about your role and your hopes, desires, and aspirations going forward.

  • By failing to prepare, you are preparing to fail.
  • Benjamin Franklin

Friday, June 15th, 2018

Flashback Friday – Show Your Confidence

“No one can make you feel inferior without your consent.” – Eleanor Roosevelt

In a job interview or in a conversation with your boss or even in a conversation with a client – all CPAs need to work on showing confidence. Many of you are humble and introverted but you are also intelligent, knowledgeable and interesting.

Show that confidence. This week’s flashback is a great, short video to teach you how to have a conversation. It is directed toward women but it applies to males, too!

  • To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.
  • Ralph Waldo Emerson

Wednesday, June 13th, 2018

Changes To The CPA Exam

“In the middle of every difficulty lies opportunity.” – Albert Einstein

The Journal of Accountancy has a podcast titled, How Tax Reform – and Excel – Are Changing The CPA Exam. It is hosted by Chris Baysden of the AICPA.

Tax reform will have an important impact on many aspects of the accounting profession — including the CPA Exam. In this week’s episode of the podcast, we talked to Mike Decker, the vice president of examinations at the AICPA, about the changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.

What you’ll learn in this episode:

  • How the AICPA’s exams team has gone about collecting feedback on the exam.
  • Why continuous testing could be on the horizon.
  • The timeline for implementing changes due to tax reform.
  • How and why a practice analysis will be initiated.
  • The changes that test takers will see to monitors and software used in the exam.

Here’s a link to the podcast (it’s only 11 minutes long). You need to know so you can advise and encourage the young accountants in your firm to take the Exam and get it behind them!

  • Nothing happens until something moves.
  • Albert Einstein

Thursday, June 7th, 2018

Lack of Sleep

“The woods are lovely, dark and deep. But I have promises to keep and miles to go before I sleep.” – Robert Frost

If you are working for a CPA firm, you are working hard. Often, it is fast-paced, challenging, stressful and frustrating – but not all the time. Sometimes, it is slow and boring – but that is rare (my opinion).

You get up early so you can get to the office early so you can have some quiet time before the crowd arrives. Then, you also often stay late for the same reason. You still have home duties and want to spend time with your family so you probably stay up later than you should. You rise at 4:30 or 5:00 and get to bed at 11:00, 11:30 or 12:00. You are definitely not getting enough sleep.

All of this affects your productivity. Some experts have actually noted that showing up for work sleep deprived can be the equivalent of showing up to work intoxicated!

Experts also tell us that you should be getting 7 – 9 hours of sleep per night. I know when I worked in a growing firm, I usually got about 5-1/2 to 6 hours of sleep – for years. Now that I work from home, I can attest that getting 7 hours sleep per night makes a big, positive difference.

Lack of sleep not only affects your productivity at work, it affects your health.

Here’s a good article to share with your team via Fast Company: Why We Can’t Sleep And What It’s Doing to Our Work.

 

  • Sleep is the best meditation.
  • Dalai Lama

Monday, June 4th, 2018

The History of Your Firm

“History never really says goodbye. History says, ‘See you later.'” – Eduardo Galeano

Last week, I was on vacation in Gettysburg, PA. We have always liked history vacations and have done many and it usually involves visiting national parks. The Gettysburg National Military Park is one of our favorites.

We have been to Gettysburg numerous times and we always learn something new and see things we have never seen before. It is because they are continually updating the park and making it more like it was in 1863. They want to make it “real” for visitors.

How much do your people know about the history of your firm? Many firms do have a summary on their website and many do not. Why not make it more real for them?

To help your people better understand the firm and its leaders, try a timeline exercise at your next full-firm meeting (or do a lunch and learn).

Get a large roll of paper and affix a long sheet to a wall in the staff room – make it about 15 to 20 feet wide. Draw a long line and put the date of the firm’s founding at the beginning on the left. Note the current date (month) at the other end of the long line. Then have everyone (using markers) mark on the sheet when they joined the firm. For many firms, it will span several decades. Then have random people talk about “what it was like” when they joined the firm and encourage people to ask questions.

Some very interesting discussions will follow!

Follow this up with another session a month or so later and talk about something even more important – the future.

 

  • I like the dreams of the future better than the history of the past.
  • Thomas Jefferson