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.”
Financial and admin operations
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.
Experts explain how payroll providers can help CPAs help their clients.
It sounds too good to be true. But value-billing expert Ron Baker says there is a way to increase client satisfaction and firm profits at the same time.
To price effectively, CPA firms first need to determine clients’ price sensitivity. Author and consultant Ron Baker, an unabashed value-pricing champion, explains how firms should communicate with clients to develop effective pricing.
These suggestions will help CPAs get started in a new location.
The JofA sat down for a Q&A session with author and consultant Ron Baker, an unabashed value-pricing champion, for a conversation that provided an in-depth look at the work firms need to do to quote clients an upfront price.
It sounds too good to be true: A way to increase both client satisfaction and firm profits at the same time. But consultant Ron Baker explains how offering different pricing options can help firms do just that in this Q&A.
Firms can use a value council to determine prices and KPIs to measure performance.
Billing by the hour isn’t the only way to charge clients. But to implement a different approach, you’re going to need to ask these questions first.
An accounting firm experiment hypothesizes that “there will be multiple successful business models for accounting firms of the future.” Explore the experiment’s results and different visions for public accounting’s future—and examples of that future already becoming reality.
Value-pricing advocate Ron Baker recommends that firms use price-led costing and nominate a value council to set prices.