Archive for the ‘News’ Category

Tuesday, February 7th, 2017

CPA Consultants’ Alliance

“Let no one think that flexibility and a predisposition to compromise is a sign of weakness or a sell out.” – Paul Kagame

Today will be fun for me. I will be joining Jeff Phillips of Accoutingfly and Tamera Loerzel of Convergence Consulting to film a video podcast.

All the members of the Alliance will be involved in filming these brief video podcasts on different topics to help practitioners with specific areas of concern.

Our group today will be addressing the value of a flexible workplace and how to address many of the issues in implementing it into your culture.

Stay tuned for more information about this CPACA project in the Spring.

  • You must always be able to predict what's next and then have the flexibility to evolve.
  • Marc Benioff

Wednesday, January 18th, 2017

Client Accounting Services

Consultants, firm associations, state societies, the media and the AICPA have all been telling you about the opportunities available if you offer Client Accounting Services.

Yes, many firms used to think that “write-up” work was very low margin work. The cloud and technology have made it very lucrative.

galeRead this excellent article from Gale Crosley‘s recent newsletter:  “From ‘Dull’ and “Commoditized’ to an ‘International Star'”.

Sign up for my newsletter here.

  • Whenever you find yourself on the side of the majority, it is time to pause and reflect.
  • Mark Twain

Wednesday, December 14th, 2016

What a Great Concept – Adulting School.

“Maturity is a bitter disappointment for which no remedy exists unless laughter could be said to remedy anything.” – Kurt Vonnegut

I must admit, I was rather shocked when I read that there is a course to help Millennials become adults. What a concept! It’s happening in Portland, Maine.

A therapist, Rachel Weinstein, and a former public school teacher, Katie Brunelle, saw the need and put together a one-day session offering presentations on subjects like time management and budgeting.

schoolThey launched The Adulting School to teach millennials how to be functioning grown-ups by showing up on time and paying their credit-card bills, etc. They followed up by hosting happy hour sessions to tackle skills like cooking and networking.

Many of you might think this is actually funny. My first reaction was OMG!

However, I can see the real need for something like this for new college graduates as they enter the world of work, especially public accounting. The organizers put it like this, “You’re smart and capable – Your education just didn’t provide you with all the skills you need.”

I have written and spoken about the fact that adulthood has been “pushed back” by the millennials. Think about it. The Baby Boomers graduated from college, got married, bought a house, started a family in their twenties. The Millennials are doing all of these things in their thirties – a ten-year delay.

It is a big transition from college to work life and building a career. Be sure to offer your new college graduates assistance on making that transition. Be open and honest about your expectations and be sure they have someone to talk to about their new life (a coach or mentor). Time management could be just the beginning course.

Maybe your CPA firm needs an Adulting School. Maybe some significantly older people need an “adulting” course!

Read the entire article, Should You Enroll in Adulting School?

  • I don't think I'd have been in such a hurry to reach adulthood if I'd known the whole thing was going to be ad-libbed.
  • Bill Watterson

Friday, November 18th, 2016

Solutions For CPA Firm Leaders Newsletter

My November newsletter went out yesterday afternoon. Here are the articles:

     Let Clients Know Your Expectations

     The Importance of Grammar, Spelling, and Punctuation

     Keller Services – Monthly Advisory Sessions

If you did not receive a copy and would like to be added to the listing, you can sign-up here.

 

Friday, September 23rd, 2016

Rosenberg Annual Survey

img_7794It’s September and I just received my copy of the 2016 issue of The Rosenberg Survey. It is the 18th Annual Edition. The Rosenberg Survey is one of the most popular and widely respected national MAP surveys for the CPA profession.

Comments and insights from many well-known CPA management consultants are included. Look for my comments on Page 21.

The survey includes numbers from:

  • Firms with over $20M in fees
  • Firms with fees of $10-$20M
  • Firms with fees of $2-$10M
  • Firms with fees under $2M
  • Sole practitioner firms

Order yours here.

  • Everybody gets so much information all day long that they lose their common sense.
  • Gertrude Stein

Tuesday, September 20th, 2016

Innovation

“When all think alike, then no one is thinking.” – Walter Lippman

It makes me SO happy when I hear about innovative things coming from people working at CPA firms.

While I often lament that we don’t see very much innovation and creativity within firms and that many firms are very happy with the status quo, there are some great firms out there leading the way for others.

The following is an announcement from CPA.com about the 2016 Innovative Practitioners’ awards.

CPA.com announced this week that Caitlin Lacher and Rachael Higginbotham, both representing Louisiana accounting and business advisory firm Postlethwaite & Netterville, have been named winners of the Innovative Practitioners 2016 Award. The annual award looks to recognize innovations in process, services or technology implementation in public accounting firms.

Lacher and Higginbotham both developed Pounce, a new business development tool, this previous summer. Pounce allows CPA firms to more easily manage and match staff resumes, industry experience, and other firm materials, allowing marketing and sales teams to quickly respond to new business opportunities.

Runner up:  (One of my clients – Congratulations, Charles!)

Charles Postal of Santos, Postal & Co., Rockville, Md. Adopted Yammer.com,Slack.com and OfficeVibe.com, among other services, to his firm to improve communication amongst staff.

Honorable Mention – a tie

    • Kathy Ryan of RoseRyan, Newark, Calif. Kathy helped develop her firm’s own in-house application, the RoseRyan Dream Team System, to automate time tracking, recruiting, revenue forecasting and more.
    • Dixie McCurley of Trusted CFO Solutions, Atlanta. Dixie helps lead CPA.com workshops on client accounting services in the cloud, but also walks the walk with her firm, developing customized accounting models for clients that deliver powerful data analytics for business decision-making.

    For more on the 2016 Innovative Practitioners Award, head to CPA.com’s site here.

  • Interviewer:

Friday, September 16th, 2016

Finally, A Movie About An Accountant

If you are or work with, an accountant you must watch these trailers from the new movie, The Accountant, coming out on October 14th.

Ben Affleck, as the accountant, doesn’t seem to be like the accountants I know although he does seem to be very busy!

In Trailer #2 you can see that he has a pocket protector….

Here’s my favorite line/conversation, so far:  Who is he? The accountant. Like a CPA accountant? Not quite.

Trailer #1

Trailer #2

  • I have no use for bodyguards, but I have very specific use for two highly trained certified public accountants.
  • Elvis Presley

Monday, August 22nd, 2016

CPA Honored On A Topps Baseball Card

Robert_Card-copy“Baseball is ninety percent mental and the other half is physical.” – Yogi Berra

Did you ever collect baseball cards? Topps baseball cards have been around since the late 1880s.

Who would think it, a CPA’s picture on a real baseball card?

I have blogged about my friend Robert Raiola many times. Why? Because he is unique among CPAs and exemplifies what being a CPA, famous for something, is all about.

Raiola is director of the sports and entertainment group at New York-based PKF O’Connor Davies. He appears on the 2016 Topps’ Allen & Ginter baseball card set, issued on August 13, which includes Major League Baseball players and other sports figures, such as radio host Mike Francesa and actor Kevin (“Field of Dreams”) Costner.

Inside Public Accounting covers the entire story very well. And, by the way, he has over 52,000 followers on Twitter – @SportsTaxMan.

Congratulations, Robert! (Read the entire IPA story here.)

What are you famous for?

  • You could be a kid for as long as you want when you play baseball.
  • Cal Ripken, Jr.

Friday, June 17th, 2016

CPA Management Newsletter

My newsletter went out yesterday. Here are the stories I included in this edition:

  • The Latest On Issues Being Faced By Firms
  • Keep The Feedback Flowing – Video Interview
  • Need To Talk?

I hope you received your copy. Be sure to check your spam filter. If you are not on my mailing list, you can sign up for my newsletter here.

 

  • By the time we've made it, we've had it.
  • Malcolm Forbes

Thursday, May 19th, 2016

The New Exempt Overtime Rules – A Big Factor For The CPA Profession

In the CPA profession, it used to be that many firms took “overtime” hours into consideration when establishing entry-level salaries often resulting in a higher beginning wage. However, many firms (mostly depending on geographic location) do not offer a salary of over $47,476 for beginners.

Even some long-time bookkeepers and other administrative professionals, currently on salary, do not meet the new threshold.

From a recent SHRM article: “It will be hard to accept and even implement,” said Robert Boonin, immediate past chair of the Wage and Hour Defense Institute, a network of wage and hour lawyers, and an attorney with Dykema in Detroit, Mich.  “It’ll be a cultural change to many and perceived as a step back in career growth.”

You now need to be talking with your people, well before the deadline to comply – December 1, 2016.

Another excerpt from SHRM – very important in this world of expecting an instant response from your staff on weekends and after hours:

What about previously salaried workers who were used to responding managers’ e-mails or phone calls after hours?

“Managers can certainly continue to e-mail after hours and expect timely responses from newly nonexempt employees, [they] just need to be prepared to pay for the time,” Kilborn said. “Perhaps this is a chance for those managers to evaluate how badly they need that response from the employee if they know that they will be paying for it directly.”

Said Wise: “Regardless of what a supervisor may be used to … a manager may have to adjust expectations if response time would result in overtime, or an employer may have to consider financial ramifications if response time is critical and would require overtime.”

Read more here, on the SHRM site. Then get busy planning for this change and how it will impact your firm and your clients. They will look to your firm for guidance.

There is a lot of information on the web a about this new law – Google and read! The details seem to keep changing!

Here’s something from the Ohio Society of CPAs Member Alert:

While the complete rules package is not yet available, key revisions include:

  • Exempt salary threshold increased to $47,476 from $23,660
  • The salary threshold will automatically update every three years, and is anticipated to top $50,000 by 2020
  • The new rules are effective Dec. 1.

 

  • The people's good is the highest law.
  • Cicero