Archive for the ‘News’ Category

Monday, January 21st, 2019

It’s Healthy to Stand

“If you fell down yesterday, stand up today.” – H. G. Wells

I noticed a news article about a firm unveiling new offices in a new market.

The firm, Lutz,  offers accounting services including tax, bookkeeping, and business consulting to individuals and organizations in a variety of industries. The company was founded by Ralph Lutz in 1980 in Omaha as the CPA firm of Lutz, Kinsey, Friedman & Meyers. They also have offices in Grand Island, Lincoln, and Hastings, Nebraska.

Check out the picture of two of their accountants utilizing the stand-up desk option. Are you offering the option to your team members yet?

standup

  • Courage is what it takes to stand up and speak; courage is also what it takes to sit down and listen.
  • Winston Churchill

Friday, January 11th, 2019

What Does Leadership Look Like Podcast

“The man who never alters his opinion is like standing water and breeds reptiles of the mind.” – William Blake

Thanks so much to Jessica Salerno of The Ohio Society of CPAs for interviewing me for one of the Society’s podcasts.

Episode info:

As the accounting profession evolves, leadership has to evolve along with it. We spoke with Rita Keller, respected CPA firm management consultant and author of the daily blog “Solutions for CPA Firm Leaders,” on how leadership in accounting has changed over the years, the common leadership mistakes she’s seen, the one thing leaders aren’t doing enough and more.

Click here to listen to the podcast. I also appreciate the Young CPAs of Ohio tweet!

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  • Change your opinions, keep to your principles; change your leaves, keep intact your roots.
  • Victor Hugo

Monday, January 7th, 2019

Herb Kelleher

I was sorry to learn of Herb Kelleher’s passing. I have always admired his unique approach to being a company leader.

“Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that.” – Herb Kelleher

That quote inspired me and many CPA firms to begin to focus more on keeping employees happy and engaged.

If you ever attended one of my presentations, you probably saw a slide I used very often. To me, it said so much about the functioning of so many CPA firms. You see, I think CPAs often make things way too difficult, especially when it comes to managing their firms.

They spend days talking about and drafting a strategic plan that gets distributed to staff and is never seen again. Here’s some advice from Herb. R.I.P.

Kelleher

  • You don't hire for skills, you hire for attitude. You can always teach skills.
  • Herb Kelleher

Wednesday, December 19th, 2018

Are You Getting Two 4-Day Weekends?

Some of you are getting some extra time off this holiday season. I did a casual survey to see what CPA firms were doing about giving their teams time off since Christmas and New Years falls on Tuesdays this year.

Here are my findings:

  • 17% will close their offices for two 4-day weekends. Both New Year’s Eve and Christmas are holidays.
  • 56% will close Christmas Eve and Christmas Day and be open on December 31.
  • 11% will close one-half day for Christmas Eve and a full day for Christmas and New Years Day.
  • 16% will be closed only for the traditional holidays – Christmas and New Years.

Several firms noted that many people will take PTO to extend their holiday time but the firm offices will be open.

I periodically ask questions to a group of CPA firm administrators and HR directors. If they respond to my question, they receive a summary of all of the answers from various firms around the country. If you would like to be part of my “Advisory4Keller” group, email me and let me know.

 

  • When one door of happiness closes, another opens; but often we look so long at the closed door that we do not see the one which has been opened for us.
  • Helen Keller

Monday, December 17th, 2018

Digital Client Advisory Services Roadmap Workshop

“Opportunity does not knock, it presents itself when you beat down the door.” – Kyle Chandler

I have talked to many CPAs about truly organizing and adding Client Accounting Services to their menu of services. Many firms are experiencing great success. It is important for you to understand the digital part of the equation.

CPA.com is offering a helpful workshop – Digital Client Advisory Services Roadmap Workshop – on January 23-24, 2019 in Burlingame, CA. Here a link to more information.

There is a $300 discount that expires on December 23.

Who should attend:

  • Client accounting service practice leaders
  • Key staff
  • Partners in small, midsize and large CPA firms
  • Accounting firm business development and marketing professionals

I hope you explore this opportunity.

  • The game of life is a lot like football. You have to tackle your problems, block your fears, and score your points when you get the opportunity.
  • Lewis Grizzard

Friday, December 14th, 2018

Changes to the CPA Exam

“Exams test your memory, life tests your learning; others will test your patience.” – Fennel Hudson

Hopefully, you have already been reading about the future changes to the CPA Exam.

This from The Journal of Accountancy:

A working group formed by the National Association of State Boards of Accountancy (NASBA) and the AICPA is exploring possible changes to the CPA licensure requirements that would incorporate the skills and competencies in areas such as technology and data analytics that increasingly are needed in practice and business.

Through an effort known as the CPA Evolution project, NASBA and the AICPA have discussed possible approaches to the changing demands in the accounting profession. NASBA and the AICPA have consulted with various stakeholders on this issue in an effort to help the profession meet the challenge.

Then there is this from Going Concern.

  • Recipe for success: Study while others are sleeping; work while others are loafing; prepare while others are playing; and dream while others are wishing.
  • William A. Ward

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. Also, if you haven’t yet, order a copy of the 2018 Rosenberg survey.

 

  • 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