It is crucial for firms to hire and retain quality administrative staff.
Financial and admin operations
Accounting firms of all sizes posted year-over-year revenue gains during their most recent fiscal year, with the rate of growth increasing for most practices.
Scam perpetrators can mine crucial information from executives’ public profiles on social media.
Firms should add standard terms and conditions to all engagement letters.
CPA firms can be a treasure-trove of information for cybercriminals. Here are tips on how to protect your firm.
These best practices can lead to better productivity and improved client satisfaction and retention.
Many minutes, hours, and sometimes days can be wasted on IT-related issues, costing both time and money.
In the pursuit of revenue growth, many firms make the mistake of overemphasizing the billing measures of chargeability and utilization.
Though we like to think we’re impartial in our decision-making, it’s often the case that our unconscious beliefs affect our choices.
Firm leaders increasingly see the potential of consulting services to provide additional value to clients.
If your firm is looking at making the switch, consider asking them to serve on a value council—or even as the “chief value officer.”
Owners’ hours directly impact the value of a practice: If all other things are equal, buyers prefer to buy an accounting practice with fewer owner hours.
This column seeks to dispel four fears that retirees have and share a six-step strategy for creating a life after work.
In order to ensure that you are engaging the best and the brightest employees in the firm, you must learn to handle and manage the underperformer.
Measuring employee performance based on the number of charge hours worked is a practice that can create multiple problems for firms.
Talking about price with clients isn’t as simple as saying, “That’ll be $19.99, please.” Here are the best practices to employ when using value pricing.
Accounting firms seeking long-term viability must infuse the partnership ranks with fresh blood when the time and terms are right. A method called AAV can help with this process.
CPAs do a masterful job of taking care of their clients' business, but they also need to make sure they look out for their own. Practice-continuation agreements can minimize the chaos in the transfer of a CPA practice to a successor.
Misconceptions about how to price and structure the sale of a practice can cost CPAs much of their equity. CPAs have many options to sell on their terms.
Even minor tweaks to daily processes can increase your firm’s efficiency and, in turn, boost your bottom line.