Archive for the ‘Reading’ Category
Friday, February 13th, 2015
I like the headline. To be honest, I had to chuckle when I read the opening line of the Accounting Today article, because they called one of the Big Four an accounting firm, something that the big 4 seem to shy away from. And, realistically, they are much more than accounting firms.
Seriously, I love what Cathy Engelbert, new CEO at Deloitte said about fostering women leaders in the accounting profession. I also definitely support her comments about taking risks. I find that women in accounting whine about being passed over for leadership positions, yet they shy away from taking risks, branching out and learning more.
Comments from Engelbert about making the most of experiences she was given:
“For me, this was about the experiences that I was given. I took some risks in my career to get a wider variety of experiences to be considered for a role like this, including sponsors, and partners who sat in rooms when there were deployment decisions being made on difference experiences. They would say, ‘Let’s let Cathy do this.”
We often talk about partner complacency at many successful accounting firms. I also believe that there is female manager complacency. They get promoted to manager, their earnings continually climb – – so why change?
You, as my audience, know how much importance I place on mentoring. Be sure to assess it inside your firm – work on making mentorship and sponsorship a larger part of your culture. Here’s Engelbert’s comments:
“Sometimes if you have a mentor who’s not in the room at the time they’re making decisions about the experiences you might be eligible for, you don’t get the development you want. Mentorship is really important for your own personal development, making sure that you’re seeking the right opportunities and then having the right people in the room when those decisions are being made about your deployment or the opportunities you might have.”
I urge you to read the Accounting Today article and share it with others inside your CPA firm. Be sure you take note of the comments about audit.
Our young people are excited that we're using technology in different ways to deliver the audit.
Friday, January 16th, 2015
Have you checked-out Slideshare? If you are in a leadership position in a CPA firm, you need all the resources you can get. I’m always on the prowl for things that will be helpful to you to build a winning culture and a winning firm.
I really like this slide deck (My First 90 Days), on LinkedIn Pulse that is intended to help newbies make the most of their first 90 days on the job.
Starting a new job can be daunting. It’s time to meet your colleagues, impress your boss, get into the rhythm of your new role. So how should a newbie navigate those first 90 days?
There are only 14 slides that provide links to 8 posts on advice aimed a surviving a new job. The eight titles:
- Start working before Day One
- You can’t fix it right away
- Say yes to everything
- Ask your coworkers to lunch
- Listen to everyone you meet
- Make your boss look good (includes quote from Guy Kawasaki: “Either you rise to the top together, or crash and burn together.”)
- Take care of yourself first
- Don’t try to be the golden child
This is not just for newbies. CPA partners and managers need to read these posts, too. I frequently remind partners in accounting firms, “Don’t forget what it was like to be the new kid!” Most experienced partners admit they were lost, confused and clueless.
Make yourself available, work hard, and over time you will make yourself indispensable.
Wednesday, January 14th, 2015
I mention emotional intelligence fairly often. That is because CPAs have the reputation for ranking fairly low on the emotional intelligence scale.
The experts tell us (Daniel Goleman, author) that emotional intelligence consists of five competencies:
- Social Skills
I urge you to learn more about it and focus on how it plays out inside your busy CPA firm. It is essential to a productive work environment.
It does not mean you are simply nice to everyone and always pleasant. It means that you can confront others in a constructive way when problems arise. It doesn’t mean you are visibly emotional, it means you are in control of your emotions and to recognize emotions in others.
I bet that accountants reading this right now are not liking it much. I find most of them do not want to address the “warm and fuzzy” stuff. Usually, it is the simple fact that accountants think more along the lines of “business is business and personal is personal.”
In a recent article on Fast Company, Yongmei Liu, an associate professor at Illinois State University’s College of Business is quoted as follows. “A leader who has a high degree of emotional intelligence can recognize when his or her followers are not in the right emotional state to perform well.” – That would sure be helpful as you go through tax season!
Read more about it here. – article is titled, Why Emotionally Intelligent People Make More Money (maybe that got your attention).
It isn't stress that makes us fall - it's how we respond to stressful events.
Thursday, January 1st, 2015
I have been reading more over the Holidays. How about you? My suggested New Year’s resolution for you — Read more!
I mentioned earlier this week that I am reading Seth Godin‘s book. So many of his thoughts and challenges apply to CPAs. Many accountants are smart, talented people who get trapped in status quo. I DARE you to take that big, scary step this year and make some changes, take some risk. In fact, I triple-dog-dare you!
From the book:
“I see it all perfectly; there are two possible situations – one can either do THIS or THAT. My honest opinion and my friendly advice is this: DO IT OR DO NOT DO IT – YOU WILL REGRET BOTH … To dare is to lose one’s footing momentarily. NOT TO DARE IS TO LOSE ONESELF. – – Soren Kierkegaard
Happy New Year to all my loyal blog followers (and to my occasional readers, too).
Thursday, December 11th, 2014
I like to work with people who have grit.
To me that means:
- They are not hesitant to say what’s on their mind.
- They continually give honest feedback and encouragement to those around them.
- They don’t “walk on egg shells” because some people they work with are very sensitive or very explosive.
- They also continually and positively push people to do their best.
When you are hiring or when you are assessing your fleet of interns to identify future hires, it is not about their GPA. Experts tell us that when a young person is about 5 years into their career, all the grades and academic credentials in the world don’t mean anything anymore.
I have observed that first-hand over my career. If you are a leader in your firm I bet you have observed it, too. So… work with that.
Leaders with grit create team of doers not talkers.
Here’s a book to use as a resource – The Soft Edge: Where Great Companies Find Lasting Success by Rich Karlgaard.
Being a Baby Boomer, when I hear the word “grit” I think of John Wayne. How about you?
In the real world, smarts isn't about looking for the next star student with a 4.0 or having an IQ that can boil water. Instead, it's about the importance of hard work, of perseverance and resilience. Call it grit.
Rich Karlgaard, author of The Soft Edge
Monday, December 8th, 2014
It’s a simple thing. Saving time. You should try it sometime.
Yes, I am being sarcastic again. As you know, working inside a busy, growing CPA firm, it is very important to always be aware of saving time and wasting time. This applies if you still record time daily or if you are a value-pricing firm.
I worked very hard last week to do my part to: Enlighten you – Give you ideas – Encourage you to be your best – Help you (and your people) earn more money – Be more appreciative of each other – And so on. Plus, never forget that a leader MUST read – often and a variety of things and topics.
Here’s a list of last week’s posts. If one or more grabs your attention, you might want to read it quickly as you start your week:
Monday: CPAs Will Leave Your Firm – No Matter What Time of Year – Yes, people quit CPA firm jobs in tax season these days.
Tuesday: Identify Future Leaders Early, Part I – Gary Boomer’s article inspired me to elaborate. Be sure you communicate to your young people the benefits of a long career in public accounting.
Wednesday: Identify Future Leaders Early, Part II – My thoughts relating to Boomer’s article were too extensive for just one blog post. So, Here are 10 characteristics to look for in identifying future leaders.
Thursday: Apologies – Don’t point fingers. Don’t play the blame game. It wastes too much time.
Friday: Make It Easy For Your Clients – Starbucks Does – Do you avoid client phone calls at times? Do your managers rarely answer their phone, preferring to let it go to voice mail?
Don’t forget my Saturday post “Lighten-Up” post (off topic, humorous or even weird). Holy weekend, Batman!
The MORE that you READ, the more THINGS you will KNOW. The MORE you LEARN, the more PLACES you'll GO!
Tuesday, December 2nd, 2014
Gary Boomer’s recent article in Accounting Today “hits the nail on the head,” so to speak. As usual, Boomer and I are on the same wave-length. His insight into what accounting firms should be doing and not doing is always right on-target. The theme of his recent article is “leaders should be identified early in their careers….”
Current firm leaders often tend to wait way too long to identify future leaders. They may be thinking to themselves, “Young Ted is really sharp. He grasps things so quickly and he can talk to clients in an enlightened and mature manner.”
The trouble is, firm leaders don’t communicate to young Ted that he has what it takes to be a major player in the game of public accounting, along with an earnings potential to match.
Meanwhile, young Ted is restless. He wants more responsibility, he wants to mentor the new hires and interns, he wants to be assigned to the firm’s premier clients, he wants to learn directly from the best performing partners and he would like the chance to accompany a partner to a client meeting or lunch.
If Ted’s expectations are not met, he will move on to find career fulfillment elsewhere. Your competitors will hire him in a heart beat!
My theory is that most experienced accountants can almost immediately assess the future potential of a young person entering the accounting profession. Yet, they wait and often suffer through failures with struggling employees for way too long and hesitate to invest very quickly in education and development of all-stars.
Read Boomer’s article and see what you think. Check back tomorrow and I’ll list Boomer’s 10 characteristics to look for in identifying future leaders.
None of us is as smart as all of us.
Tuesday, November 25th, 2014
Perhaps it has happened, but I don’t remember a sitting Pope commenting, in a very public manner, about the important role of accountants in society.
I urge you – CPAs in the corporate arena and CPAs in public practice – to always keep in mind the important role you truly DO play. Here’s a tidbit about what the Pope said in an address in Rome to participants of the World Congress of Accountants.
“So everyone—but especially those in a profession that deals with the proper functioning of the economic life of a country—is required to play a positive, constructive role in the course of their daily work, bearing in mind that behind every document, there is a story, there are faces.
“Those who work in various positions in the economy and finance are called on to make choices in favor of the social and economic wellness of humanity as a whole, giving everybody the opportunity to realize their own development.”
Young CPAs just getting a good start in your career – you should be very proud of the profession you have chosen. Please have the determination and pride to stay in the public accounting arena. You will be able to touch so many lives. I hope you always remember that while the hours are sometimes long and the continual learning is challenging, the rewards are great – both monetary and personal satisfaction and pride.
Experienced CPAs, not only should you keep doing what you are doing, you should also keep in mind how many lives – your clients and your employees – you are responsible for. I believe that you have survived in public accounting because you do strongly feel the commitment to helping people. Business people and individuals NEED your expertise.
Read about the Pope’s comments on the Journal of Accountancy site.
(photo via Wikipedia)
The future starts today, not tomorrow.
Pope John Paul II
Wednesday, October 29th, 2014
In a recent newsletter from August Aquila of Aquila Global Advisors, August identified some of the things partners need to do to help the firm be successful.
There is a critical link between partner behavior and what the firm is trying to achieve. Here’s a list to give to all of your partners. Then discuss it and then do it.
Being a leader means partners must:
- Make a personal economic contribution
- Bring in new business
- Bring the firm’s resources to their clients
- Pass work to their colleagues
- Develop their people’s capabilities
- Persuade their people to join the partners on the journey and to play a part in building a better firm
- Help their colleagues and, through them, the firm
- Live the firm’s values all day, every day
- Never be satisfied with second best
- Be role models for high performance and judgment, the people members of the firm turn to for inspiration and help
- Stand up and be counted
Read Aquila’s newsletter article here.
The only limit to our realization of tomorrow will be our doubts of today.
Franklin D. Roosevelt
Thursday, October 16th, 2014
“To help you work smarter instead of harder, we’re hitting you with a productivity hack each Friday. Check out our hacks here.” – – this is from Fast Company.
If you are confused by the word hack, used in this context, learn more here.
I thought the Productivity Hack Of The Week for October 10, 2014 just might interest many accountants working in public accounting. You know…. the place where in most firms you track every single minute of your day! (Except for the very progressive firms where they have embraced the value pricing model.) Of course, whether you are tracking time or not – you can end up wasting a lot of time browsing the web.
Taking a Facebook break or reading a few blogs that you follow everyday (and find helpful… hopefully like mine), can still be good for you and also be productive, within limits. It is still very clear that there is only so much time you can spend with these browsing activities.
That is why, when I read about how to track how much time you waste, I thought it would certainly pique your interest.
There is an app that runs in the background while you work on your computer or smartphone that tracks each second you spend on applications and websites and gives you weekly reports and data based on your activity.
Then there is another app that helps you, after you have decided how much time you want to cut back (a productivity extension for Google Chrome) that allows you to restrict the amount of time you can spend on time-wasting websites. If you lack self-control completely and need to put yourself on a productivity lock down, you can block specific sites completely using Chrome.
All this is interesting. I need to dig a little deeper and see if it could benefit me. I know that I get sucked into reading a post and following a link, then another link and end up reading, reading, reading….. which is good for my knowledge and expertise but I often have other more important priorities!
As mentioned above, Fast Company provides a productivity hack every week – read them here.
Amateurs sit and wait for inspiration, the rest of us just get up and go to work.