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.
Practice growth and client service
Value-pricing advocate Ron Baker recommends that firms use price-led costing and nominate a value council to set prices.
Small business leaders ranked accountants at the top of the list of the most important professionals who serve their businesses, a new survey shows.
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.
Mark Divine shares lessons and insights from his distinctive viewpoint as a businessman, trainer, and former commander on SEAL Team One.
U.S. public accounting firms are making greater use of technologies including cloud-based software and video conferencing, 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). The biennial study also unveils trends in fees, billing rates, compensation, and types of services and benefits offered.
Small firms can bolster their client relationships and generate additional revenue through one- or two-hour microengagements.
Many CPA firms post sparingly and need better training and policies around social media, a new survey shows.
Adding personal financial planning (PFP) services can help a CPA firm attract and retain clients and increase its revenue, the AICPA’s recent Economic Benefit of PFP Services survey found.
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).
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.
This June marked the 20th anniversary of a U.S. Supreme Court ruling that remains of interest to the accounting profession because the litigants included a state board of accountancy and a dually credentialed attorney advertising that she was both a CPA and an attorney. In Ibanez v. Florida Board of
Many accountants may have opportunities to expand their service offerings to small business clients by providing financial planning and forecasting, according to a new survey. Just one in three accountants offers financial planning or forecast services as part of clients’ business planning process, according to a survey of 150 accountants
This article proposes a series of strategies firms can follow to cultivate their young CPAs’ business development identity and the skills needed to go with it.
Brazil, which hosts the World Cup in men’s soccer this summer and the Olympic Games in 2016, remains a top destination for foreign direct investments despite slowed economic growth. Businesses that expand into Brazil quickly learn the Latin American country has many faces.
CPA firms are finding international services a booming business, based on responses to a recent AICPA Private Companies Practice Section (PCPS) survey. The survey examines practitioners’ interest in expanding to new markets and growing an international clientele, as well as firms’ top international challenges and needs.
Ask managing partners for the top reason an accounting firm merger succeeded or failed, and the most popular answer you’ll hear is culture. Learn how firms can assess and adjust for cultural differences in a merger in the 11th installment of the series “CPA Firm Succession: Solidifying the Future.”
Networking and visibility are key to building any CPA firm. To establish their brand in the community, CPAs must find the business development approaches that best suit their individual style. The following steps will help them pave their own business development path: Overcome the urge to be the worker bee.
Client retention is essential to the success of an accounting firm merger. Find out how to minimize client turnover in the 10th installment of the series “CPA Firm Succession: Solidifying the Future.”
Referrals are a key to building an accounting practice. Research conducted by marketing consultants Hinge found that 87% of clients turn to referrals first when looking for an accountant and that 76% of clients are “very likely” to recommend their accounting firm to others. Here’s how to get satisfied clients