Firm operations

TOPICS / FIRM PRACTICE MANAGEMENT

November 1, 2015

Maximize proceeds in accounting firm sales

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.

September 7, 2015

Cost-saving tips for small firms

Even minor tweaks to daily processes can increase your firm’s efficiency and, in turn, boost your bottom line.

September 1, 2015

Effortless payroll service offerings

Experts explain how payroll providers can help CPAs help their clients.

September 1, 2015

Q&A: Pricing options that boost profits

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.

August 1, 2015

Q&A: Price-sensitivity training

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.

July 1, 2015

Q&A: Price check

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.

July 1, 2015

Opening a new CPA office

These suggestions will help CPAs get started in a new location.

June 22, 2015

Q&A: To boost revenue, try offering these pricing options

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.

June 1, 2015

How to eliminate time sheets

Firms can use a value council to determine prices and KPIs to measure performance.

April 27, 2015

Q&A: What you need to ask clients before setting a price

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.

April 13, 2015

Models of success?

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.

April 13, 2015

The importance of tax quality control

Quality control (QC) is of utmost importance when delivering professional services, including tax planning and compliance services.

March 18, 2015

Q&A: How can firms implement value pricing?

Value-pricing advocate Ron Baker recommends that firms use price-led costing and nominate a value council to set prices.

February 10, 2015

Q&A: Should you dump the billable hour?

A growing number of industry pricing experts are urging CPA firms to jettison the venerable billable hour and replace it with value pricing. In this Q&A session, value-pricing champion Ron Baker provides an in-depth look at the benefits of making the switch.

January 1, 2015

How health care data security rules may affect you

CPAs must properly secure any patient health care data that may come into their possession, to avoid potentially severe civil and criminal penalties.

December 1, 2014

2014 MAP Survey: Firms experience growth, stockpile cash

U.S. public accounting firms are socking away chunks of equity, according to the 2014 Management of an Accounting Practice (MAP) Survey from the AICPA Private Companies Practice Section (PCPS) and the Texas Society of CPAs (TSCPA).

December 1, 2014

How to price an owner’s interest in a CPA firm

Many accounting firms are facing a daunting challenge paying for partner retirements. Long-standing buyout agreements often aren’t calibrated for today’s demographic and market realities. This article shows how firms can assess and adjust the terms and types of buyout agreements to facilitate successful ownership transitions.

December 1, 2014

Buckle up: The importance of engagement letters

If your firm has never used engagement letters or perhaps has not implemented them consistently, where do you start? Here are some tips to help increase the efficiency and effectiveness of this critical tool.

November 3, 2014

2014 MAP survey: Firms experience growth, stock up on cash

U.S. accounting firms are storing up equity as they prepare for a number of financial challenges over the next few years. That’s one of the findings of the 2014 National Management of an Accounting Practice (MAP) Survey, released Monday by the AICPA Private Companies Practice Section (PCPS) and the Texas

November 1, 2014

Succession challenges for U.S. CPA firms to tackle

U.S. public accounting firms must tackle five challenges in their succession planning to fill the gaps left by Baby Boomer partners who have begun to retire, according to results from a Global Accounting Alliance survey.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.