For the good of clients and employees, Virginia-based Wall, Einhorn & Chernitzer PC has made long-term success a priority. A gradual, five-year buy-in process is designed to make it affordable for new shareholders to move into their positions in the firm's leadership.
Practice growth and client service
The gains are especially big among large CPA firms.
Treat a client termination as if it were a hike through uncharted lands.
The biennial Management of an Accounting Practice Survey shows broad-based revenue growth.
New CPAs can plant the seeds of future business now by taking steps such as joining groups, solidifying relationships with their contacts, and using social media to raise their profile.
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.
When groupthink occurs, the benefits of diversity can be lost.
Client attrition is one of the biggest threats to the success of an accounting firm merger or sale. Buyers and sellers both have pivotal parts to play if they want to maximize the benefits and minimize the risks of the transition process.
Here are some steps you can take to minimize conflict or tension that arises due to miscommunication or other issues.
Technology, specialization, succession issues and other factors are combining to change the marketplace for CPA firms.
Here's how to avoid some common mistakes that cause mergers to fail.
This article examines the most common internal obstacles that firms face when acquiring other CPA firms and offers possible solutions.
In the pursuit of revenue growth, many firms make the mistake of overemphasizing the billing measures of chargeability and utilization.
Firm leaders increasingly see the potential of consulting services to provide additional value to clients.
The recent CPA.com Innovation in Public Accounting Survey says practices that have adopted or investigated cloud-based technologies are more likely to perceive a need for faster innovation.
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.
Whether it’s something quirky, such as flying to work, or more mainstream, such as serving a specialized market, creating a brand can help you grow a business and stand out in a crowded market.
Properly managing client relationships is a key to repeat business and to generating referrals.
Undertaking new, unfamiliar service offerings can elevate the risk of errors and professional liability claims.