Run your firm’s tax season as if you were advising a client on a business. Whether you are a two-person operation or a giant national firm, you need procedures to facilitate the tax preparation part of your practice. The following best practices for tax season, adapted from my book Managing
Advertisement
TOPICS / FIRM PRACTICE MANAGEMENT
Human capital
Make Your Accounting Department More Efficient
In today’s world, accounting departments run lean. Asked to do more with less, accountants are being pushed to the max. Since adding staff is usually not an option, here are seven ways to lighten accounting’s workload. Challenge every step, every piece of paper, every input and every output. Chances are
Sample Win-Win Compensation Agreement for Managers
Click here to download a sample win-win agreement spreadsheet, applicable to managers. Also read, “Retaining Top Talent Still a Requirement for Firms,” by Heidi Brundage, CPA, and Mark Koziel, CPA.
Retaining Top Talent Still a Requirement for Firms
For years, finding and retaining staff were the top two concerns of management at public accounting firms. But when the economy soured, client retention quickly became the top issue for CPA firms of all sizes, according to the 2009 PCPS CPA Firm Top Issues Survey, a biennial survey of public
Employee Involvement: A New Blueprint for Success
When it comes to improving employee retention and increasing profitability, my firm, San Francisco-based Eichstaedt & Devereaux, believes that investing in and developing our future leaders builds the foundation for success. Instead of top-down firm management, we use a grass-roots employee involvement program to engage employees in the firm’s business.
Get Results: Improve Your Accounting Firm Processes Using Lean Six Sigma
Poor processes directly affect client service and client satisfaction. You see it in delays in completing jobs, responding to client requests, or when a partner fails to communicate a piece of client-related information, causing an unnecessary mistake down the line. Inefficient processes can result in your firm’s inability to bill
Keeping Them Satisfied
Fifty-seven percent of accountants in a recent survey said they plan to stay with their current employer once the economy improves. But almost one-quarter (23%) plan to look for a new job. The survey, by Ajilon Finance, also found that less than 2% of accounting jobs nationwide have been cut
Teach Young CPAs Well
On the day Barry Melancon passed the CPA exam, two partners in the small Louisiana firm where he worked did something that paved the path to his role as president and CEO of the AICPA. First, the managing partner told him he needed to make a personal contribution to the
In a Noncompete Bind?
If you find yourself out of a job in this downturn, keep in mind that restrictive covenants may limit your next move. If you are a party to such an agreement, you could face a costly lawsuit if you go to work for a competing company or firm or start
Keeping It Together
Retirement, health issues for an owner, the desire to grow—all of these are reasons firms engage in mergers or acquisitions. Most firms decide to merge or acquire only after considerable analysis of financial and professional outcomes. Last month we gave general advice for ensuring a merger or acquisition goes smoothly.
A 2009 Tuneup for Your Firm’s Succession Planning
The pending retirement of the baby boomer generation and the unrelenting challenge of finding and keeping talented staff can have grave consequences for firms that fail to develop a succession strategy. With the AICPA’s 2008 PCPS Succession Survey showing that only 35% of multiowner firms had a written succession plan,
Sample Sabbatical Program Policy
Here is a sample sabbatical policy based on actual policies used by firms: 1. Eligibility. All partners with five years of service will be eligible to take a sabbatical every five years. All managing associates with seven years of service will be eligible to take a sabbatical every seven years. Partners
The Virtues and Challenges of a Long Break
Some people do solo retreats for personal development. Others provide volunteer services. One CPA firm partner took his two adopted children back to their homelands—Korea and Vietnam—where his 21-year-old son was reunited with his birth mother, brother and sister after 14 years, and discovered he had six nieces and nephews.
Recruiting for Small Firms
The war for talent continues, and it’s up to each small firm to create opportunities to find talented employees who will appreciate a small firm environment and prosper in it. It’s often difficult for small firms to find the resources necessary to fuel a recruiting system that will fit their
On the Verge of an Academic Revolution
For those charged with educating the next generation of accountants, the expected shift from U.S. GAAP to IFRS stirs up a host of potentially thorny issues. Professors and college administrators are dealing with questions about the timing of the curriculum expansion and the resources needed to handle IFRS. They are
The Firm of the Future
To a large extent, your company is being managed right now by a small coterie of long-departed theorists and practitioners who invented the rules and conventions of “modern” management back in the early years of the 20th century. Management is out of date. Like the combustion engine, it’s a technology
Investments in Diversity Pay Off
You heard it straight from the recruiter’s mouth: Companies with diversity programs enjoy a competitive advantage when it comes to recruiting top talent. An overwhelming majority—nearly nine out of 10 executive recruiters—thought effective diversity programs provide a more robust talent pool. According to Korn/Ferry International’s
Make the Most of Mentoring
EXECUTIVE SUMMARY The definition of mentoring is expanding to include the concept of coaching, which is focused on helping others learn job-related skills for growth. In today’s rapidly changing work environment, young accountants appear to learn more quickly and thoroughly through on-the-job training. Firms with strong cultures that facilitate continual
Taking a Systemic Approach
For the better part of two decades ending in the late 1990s, I was responsible for university recruiting at KPMG LLP. While we worked to increase diversity in the firm, it was frustrating because so few people of color were studying business and, therefore, there was little diversity among the
Benefits Draw Top Talent
One-third of CFOs surveyed by Robert Half International thought benefits packages were the most effective incentive in attracting top accounting candidates – up from just 2% five years ago. The findings also suggest that traditional incentives, such as insurance, are a higher priority today than flexible work schedules, which fell
Features
FROM THIS MONTH'S ISSUE
Real-life ways small firms use AI
Learn how four small firms use artificial intelligence to automate processes while maintaining strong oversight.
From The Tax Adviser
July 31, 2026
Current developments in S corporations
July 31, 2026
