Archive for the ‘News’ Category

Monday, December 10th, 2018

This is What is Trending in CPA Firms

marc-rosenberg-2017“The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.”—Peter Drucker

Thanks to my good friend, Marc Rosenberg, I am pleased to share his recent article: Trending: What I’m Seeing at CPA Firms This Year.

I am sure many of my fellow CPA management consultants will agree with Rosenberg. I know I am seeing the same issues with my CPA firm clients.

If you haven’t already, take a minute or two to read Rosenberg’s view on current trends.

 

  • The most valuable thing you can make is a mistake—you can’t learn anything from being perfect.
  • Adam Osborne

Friday, November 30th, 2018

Last Chance to Participate – Digital Survey

“If there is no struggle, there is no progress.” – Frederick Douglass

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DIGITALLY DRIVEN SURVEY
In recognition of the evolving trends in digital operations, the CPAFMA 2019 Digitally Driven Firm Survey –  formerly the CPAFMA Paperless Benchmarking Survey, the longest-running paperless benchmarking survey in the accounting profession – is being conducted as an update to the Association’s 2017 survey. This important resource will be updated to provide you with the valuable, consistent benchmarking that we’ve all come to rely on upon through CPA Firm Management Association. Results of the survey will be included in future CPAFMA articles and resources, including a MAPCast in December 2018. Participants will be provided with an advanced copy of the results. Your participation as a firm management professional is crucial.
Please submit your responses no later than
Friday, November 30, 2018.
The survey takes between 10-15 minutes.

Click here to take the survey. Roman can’t hold his breath much longer!

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Thursday, November 29th, 2018

CPA Regulators & Profession Jointly Explore Evolving Licensure Model

“Everyone thinks of changing the world, but no one thinks of changing himself.” ― Leo Tolstoy

Interesting press release from the AICPA. Times are changing and changes need to happen.

NASHVILLE and NEW YORK (November 29, 2018) – Leaders of the CPA profession, the regulatory community and representatives from critical stakeholder groups are joining together to explore possible changes to the CPA licensure model that embrace the need for expanded skillsets of professionals. The goal of the effort is to align licensure with how CPAs will perform services in an increasingly technologically-driven environment.

The CPA Evolution Working Group, which is having its second meeting today, was formed by the National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs(AICPA).

The Working Group consists of representatives from Boards of Accountancy, state CPA societies, CPA firms of all sizes from around the country, the accounting academic community, and NASBA and AICPA volunteer committees. They have been tasked with advising NASBA and the AICPA on actions that would position the profession for the future while continuing to protect the public interest.

“Technological innovation and changing client demands are rapidly transforming the skills accountants need to thrive,” said Working Group Chair Cathy Allen, CPA, a managing member of Audit Conduct LLC and a member of NASBA’s Board of Directors. “We want to reimagine the CPA learning and licensure approach. Working Group members recognize the critical role of technological and data analysis expertise needed in firms and businesses today. Our goal is to recommend a strategy that provides the guiding principles for how to build related knowledge and skills into accounting curricula and how to test for those proficiencies on the CPA Exam.”

In the last year, the AICPA and NASBA have discussed potential alternatives to the current licensure model with key stakeholders and have gathered valuable initial feedback. A principal theme that has emerged from the feedback is support for action to evolve the approach to licensure.

“We really value the early engagement we’ve seen from the profession’s key stakeholders,” said Susan S. Coffey, CPA, CGMA, AICPA executive vice president for public practice. “Based on what we’ve heard, there is no question that the profession is ready to take action to capitalize on the opportunities that technology presents to us. That includes an evolution in our approach to licensure that embraces the changes and continues our public protection mandate. I’m looking forward to the Working Group’s recommendations and engaging with the profession and our key stakeholders throughout 2019.”

The Working Group will meet again this winter, and recommendations on a path forward regarding the licensure model are expected to be shared with state boards, state societies, CPAs and other stakeholders next year.

In addition to Allen, CPA Evolution Working Group members are:

  • Tom Broderick, CPA, CGMA, managing principal, BPW&C
  • Mark Dawkins, CPA, CGMA, CMA, dean, Coggin College of Business, University of North Florida
  • Clay Huffman, CPA, senior manager, Frazier & Deeter, LLC
  • Nancy Wolven-Juron, CPA, partner, Deloitte LLP
  • Audrey Katcher, CPA/CITP, CGMA, CISA, partner, RubinBrown LLP
  • Rick Niswander, CPA, CGMA, professor, East Carolina University
  • Todd Shapiro, president and CEO, Illinois CPA Society
  • Susan Somers, executive director, Kansas Board of Accountancy
  • Michael Womble, CPA/ABV/CFF, CVA, MAFF, ASA, managing partner, Williams Overman Pierce, LLP

 

  • Education is the most powerful weapon which you can use to change the world.
  • Nelson Mandela

Tuesday, October 16th, 2018

Managing an Accounting Practice Newsletter

“In case of news, we should always wait for the sacrament of confirmation.” – Voltaire

My October newsletter went out last week. If you did not receive a copy you can sign-up here.

Gmail - Practice Management Newsletter - Rita Keller - October 11, 2018_

 

 

 

 

  • Live news teaches you some incredibly strong lessons: that every day is a new day, and it's never too late to fix something.
  • Nancy Dubuc

Friday, October 5th, 2018

The Best Perks

“We are what we repeatedly do. Excellence then is not an act, but a habit.” – Aristotle

Dan Hood, editor-in-chief of Accounting Today has summarized for us some of the most common perks offered by The Best Firms. He notes, “The Best Firms share a long list of attributes, policies and best practices that have become table stakes for recruiting and retaining top talent.”

Here is his list of perks and extras offered by The Best. Be sure to read his post to learn more about each perk. Follow Dan on Twitter.

  • Dress for your day
  • Giving staff more time
  • Closing the office at slow times
  • Food – and lots of it
  • Including family in firm events
  • Support for individual community service
  • A true commitment to remote work

I have found that several of these are offered by many firms, large and small. The one I wish more firms would address is the last one – a true commitment to remote work.

  • Dispirited, unmotivated, unappreciated workers cannot compete in a highly competitive world.
  • Francis Hesselbein

Monday, September 10th, 2018

2018 Top 100 Most Influential People in Accounting

So honored, humbled and thrilled to be part of this wonderful group of people. It is a special feeling to know so many of them personally. Congratulations to all. Here’s a link to the list.

Can you find me in the picture? I am behind the No. 1!

2018 top 100

  • It ain't the heat, it's the humility.
  • Yogi Berra

Wednesday, August 8th, 2018

A Learning Opportunity

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Don’t hesitate to invest in the success of your new partners and your future partners.

My good friend, Jeff Pawlow of The Growth Partnership, reminded me that it is time to register for The Partner Institute. Here’s the scoop:

Announcing The Partner Institute™ 2019

The Partner Institute™ is a three-year, multidisciplinary program designed to develop the needed skills and attributes for successful firm leadership. Session 1 starts January 16-18, 2019 at the Boardwalk Inn at Walt Disney World. Learn More

Our Curriculum 

The Partner Institute™ offers participants a robust, in-classroom curriculum led by facilitators who are experts in their particular topic and have a deep pedigree rooted in the accounting profession. This sets The Partner Institute™ apart from other offerings.

View the Full Three Year Curriculum Map

Don’t Take Our Word For It…

You can hear it from our graduates first hand!

Since its inception in 2004, The Partner Institute™ has developed future leaders in the profession. We are proud to have a proven track record of success. View Testimonials

Sign Up Today!
Reserve your spot in The Partner Institute™ by submitting your registration and a deposit of $500. Attend the initial course and then decide if the program is right for you. If you elect to continue, we will invoice you accordingly.

Register Now!

  • Education is the most powerful weapon which you can use to change the world.
  • Nelson Mandela

Friday, July 27th, 2018

July Newsletter – Employee Engagement

“No matter what people tell you, words and ideas can change the world.” – Robin Williams

My July newsletter went out this week. The feature article was written for MNCPA and published in their Footnote newsletter for members.

Articles:

Engagement For The Benefit of All

Organizations with high employee engagement experience 22 percent higher profitability. Reprinted with permission of MNCPA,

Need to talk?

Sometimes you just need a sounding board or someone outside the firm to simply listen and offer suggestions. Read more about my personalized advisory program for management leaders in CPA firms.

You can sign-up here to receive my newsletter via email.

 

  • Be less curious about people and more curious about ideas.
  • Marie Curie

Tuesday, July 24th, 2018

CPA Firm Best Practices Network

“I am always ready to learn although I do not always like being taught.” – Benjamin Franklin

I received the following press release yesterday. Another good resource for practice management ideas and trends.

CPA Leadership Institute and Adamson Advisory announce the formation of the CPA Firm Best Practices Network™ 

Effective July 15, 2018–The CPA Firm Best Practices Network™ is a ground-breaking initiative dedicated to CPA firms that would like to reach a higher level of performance. 

The Resources of the CPA Firm Best Practices Network™include the CPA Firm Self-Assessment Tool™ the CPA Firm Self-Assessment Survey,™ and the Best Practices Focus Group Program. 

The CPA Firm Self-Assessment Tool™ is an inventory of generally accepted best practices employed in virtually every segment of the business of CPA firms. Each best practice is accompanied by a description of what it means to be performing at a high level with respect to that best practice. 

Firms use the CPA Firm Self-Assessment Tool ™ to guide them in rating their performance. They submit their ratings to the Network, which periodically publishes the CPA Firm Self-Assessment Survey,™ for member firms to compare themselves with their peers. 

The CPA Firm Self-Assessment Tool™ helps develop insights into the strengths and weaknesses in firm operations– in their own view—to begin the process of developing the initiatives to move from good to great. 

The Best Practices Focus Groups are online sessions that help firms prioritize and work on best practices. They will expand on the answer to the question–what does it mean to perform at a high level with respect to each best practice?

The Panel of Advisors:
Gary Adamson, Adamson Advisory

Joel Sinkin, Transition Advisors
Lisa Tierney, Tierney Coaching and Consulting
Marc Rosenberg, The Rosenberg Associates
Randy Johnston, Network Management Group, Inc.
Bryan Eberle, Haydenrock Solutions
Joel Shiffrin, CPA Leadership Institute

  • Learning is not attained by chance. It must be sought for with ardor and attended to with diligence.
  • Abigail Adams

Wednesday, July 18th, 2018

Top 50 Accounting Blogs

“Reading gives us somewhere to go when we have to stay where we are.” – Mason Cooley

I was thrilled to receive notification that Crush The CPA Exam has named my blog one of their Top 50. I am Number 12. Read more about it below and also check out the entire list. There may be several blogs that you should be reading. Of course, read mine first. I post every business day.

Blogs are a fantastic and severely underrated method of staying up to date on all kinds of interesting subcultures and industries. Sure, social media such as Facebook and Twitter can provide faster updates and hotter takes; however, the fact remains that if you want to read long-form articles of substance on a niche topic, you want to look on a blog.

Accounting is no different. While a lot of interesting news and op-eds can be read through publications like the Wall Street Journal, Forbes, or Bloomberg, these are only the tip of the iceberg when it comes to finance-related written works. To help you find the best of the best, we’ve cultivated a list of the top 50 accounting blogs in no particular order.

No two blogs are created equal, and these accounting and finance-related blogs are no exception. Some of these blogs are great for individuals without any professional accounting experience who are looking for advice, some of them are geared toward students looking to become CPA’s, and some are perfect for seasoned professionals looking for an expert’s take on the latest developments.

These blogs were chosen based on their popularity, post quality, and post frequency. All of these blogs are also actively posting new content as of June 2018.

  • Always read something that will make you look good if you die in the middle of it.
  • P. J. O'Rourke