Summer is a time for relaxing vacations, outdoor concerts and barbecue gatherings. It’s also a time to hit the recharge button and revisit the goals you planned to achieve by year’s end. Many CPAs set aside time during the summer months to focus on their firm’s operations and growth opportunities. The good news is that […]
Key Performance Indicators, also known as KPIs, are core measurements that businesses use to monitor progress toward achieving goals and targets. KPIs, which vary widely by industry and entity structure, can be used to monitor and track all aspects of your business,. Management teams pay close attention to KPIs, looking for anything out of line […]
Is it worth making the switch? Cloud computing has gained a lot of momentum over the past few years, which is not surprising especially since it allows companies to streamline their processes, resulting to increased efficiency and productivity. In addition, doing business in the cloud can significantly reduce operational costs and make pertinent information easily […]
If you’re an accountant who has been experimenting with social media, this article is for you. It will be of particular interest if you’ve been disappointed by your social media experiences. And you aren’t alone if you started out with unrealistic expectations or misunderstood how social media works. I’ve been enjoying my use of social […]
Accounting and financial firms and business groups are sending comment letters to the Securities and Exchange Comment ahead of a deadline Friday for approving a new standard from the Public Company Accounting Oversight Board on expanding the scope of audit reports. In June, the PCAOB voted to approve a new standard that would significantly change […]
Photo by Floriane Vita on Unsplash For the past several years, accounting firms have faced a leaky bucket in terms of staffing. While firms are currently growing—the latest AICPA survey estimates that more than 60 percent of firms are planning expansions—many face a talent shortage. Now comprising the largest segment of the workforce, the tech-savvy Millennial generation […]
A big topic among firms is how to manage millennials. Somehow we believe they are different. However, looking back through the years I do not believe the problem is how to manage the millennials; rather it is the myopic firm managers who need better management techniques. Firms talk about how great they are to work […]
How sustainable is your firm? Meaning, if the Partners were not there, how would it perform? Would it make money? Would it lose money? Could it continue to grow without you? Here’s a simple but sobering equation: Take Partner revenue delivered (your personal billable time / dollars) away from your profit (before Partner salaries) and […]
