The 2012 National MAP (Management of an Accounting Practice) Survey, conducted by the AICPA Private Companies Practice Section and the Texas Society of CPAs, allows CPAs to benchmark their firms against their peers, an exercise that can identify areas—and processes—for improvement. To best use the MAP results, CPAs should do
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TOPICS / FIRM PRACTICE MANAGEMENT
Practice growth & client service
Cohn-Reznick deal closes as market pressures portend more mergers
J.H. Cohn LLP and the Reznick Group have closed on their previously disclosed merger, a transaction that creates the 11th-largest U.S. accounting firm and represents the second marriage of top 20 firms consummated this year. The Cohn-Reznick combination, first announced in May, creates a firm with 2,000 employees, 25 offices,
Accountants: What it takes to start your own business
Accountants who think they want to launch their own business should not proceed unless they have a clear vision of their company’s purpose and a thorough understanding of what it really means to become an entrepreneur. Those were among the main points made by a panel of accountants-turned-entrepreneurs during a
Gaining (from) your clients’ trust
For decades, CPAs in public practice have laid a foundation of trust with clients by competently handling confidential financial data and performing core services such as tax preparation. Today, forward-thinking CPAs are building on that foundation, expanding their business offerings, nailing down new revenue streams and cementing a more profitable
Small businesses in U.S., Canada aren’t using accountants’ complete skills, survey shows
Efforts to get accountants more fully engaged with clients have found limited success with small businesses in the United States and Canada, a new survey shows. Forty per cent of small businesses surveyed in the U.S. and Canada do not even use an outside accountant, according to a report by
A wealth of opportunity
Much has been written in recent years about wealth management services that call for practitioners, including CPAs, to have personal financial planning certification and to come under investment-adviser or other regulations. Much less attention has been paid to PFP services that don’t require specialization or additional licensing. One of these
Board of education: Client advisory board implementation action plan
Editor’s note: Also read “Board of education: CPA firms, businesses can profit from clients’ advice,” in the Jan. 2012 issue of the JofA. Here is a step-by-step client advisory board implementation plan developed by the AICPA’s Private Companies Practice Section. More client advisory board tools are available to PCPS members
Board of education: CPA firms, businesses can profit from clients’ advice
It’s no secret that CPAs take pride in their standing as trusted advisers to their clients. What’s not so well known is that CPAs can gain—and in many cases, literally profit—from the advice of those same clients. Client advisory boards offer CPA firms and other businesses the opportunity to
Traps for the Unwary in CPA Firm Mergers and Acquisitions
You can’t hold back the demographic tide. In the U.S., another baby boomer turns 60 every eight seconds. This translates into a leadership change in the near future at many CPA firms. Thousands of partners are at or reaching retirement age now and in the next five years, putting a
PwC Investing $100M in Africa
PricewaterhouseCoopers International is rolling out a growth strategy for Africa that includes investing $100 million in people and infrastructure. The Big Four firm said it plans to hire an additional 8,000 partners and staff over the next five years as it builds an integrated advisory business for the continent. In
Revitalize Your Firm’s Marketing Strategy
If you think there is room for improvement in your accounting firm’s marketing and sales effort, you’re in good company. A recent study by Broderick & Co., consisting of in-depth interviews with leaders representing 130 well-known professional services firms in accounting, law, executive search, management consulting, architecture, financial services and
Seeking New Clients Rises to Top of CPA Firm Issues
Bringing in new clients has moved to the forefront of concerns among CPA firms with two to 20 professionals. That finding is among the highlights of the AICPA’s 2011 PCPS CPA Top Issues Survey, released Tuesday. The survey also found that while client retention remains a key priority for CPA
Business Development Skill Builders for Young CPAs
Many firm leaders think that young CPAs lack the necessary business development skills to move to the next level or become a future leader of the firm. However, young CPAs are often not given the opportunity to develop those skills on a daily basis. Business development is a difficult thing
Mining Tax Clients for New Business Opportunities
Any CPA who does personal income tax returns can relate to the frustration of waiting for clients to open envelopes and organize data during the tax return informational interview. Don’t let this time go to waste. For many firms, the largest volume of clients is in tax return services. Using
Are You Linked In?
While LinkedIn provides benefits particularly helpful for accountants, it is important to review all that a free, basic LinkedIn account offers. From profile creation to making connections and recommendations, LinkedIn tools can benefit users in any profession. CREATING AN ACCOUNTGetting started with LinkedIn begins with visiting linkedin.com to create a
LinkedIn Tips for CPAs
Say you run a small accounting practice but are not a marketing expert. What can you do to build your business that’s easy, quick and inexpensive? The answer is LinkedIn. The LinkedIn platform is designed specifically for business use. It is the social media of choice for more than 90
Board of education: Other client advisory board models
Editor’s note: Also read “Board of education: CPA firms, businesses can profit from clients’ advice,” in the Jan. 2012 issue of the JofA. The client advisory board model recommended by the PCPS is far from the only format used by CPA firms and other businesses. Buffalo, N.Y.-based Dopkins & Co.
How to Stand Out in Today’s Marketplace
The Institute has developed a multiyear marketing campaign to differentiate CPAs from other tax preparers. The initiative includes a set of tools to help members promote the value of CPA providers of tax services and to distinguish them from their competitors, and a comprehensive tax website for consumers with dynamic
Accounting Firm M&As: A Market Update
The market for mergers and acquisitions in the accounting profession has changed dramatically over the past 18 months. Before the financial crisis in 2008, M&As were viewed more as a tool for acquiring experienced talent and less as a means for growing the top line. The economic shift has contributed
SBA Warns Small Businesses of Scams to Help Obtain Government Loans
The U.S. Small Business Administration (SBA) warned that the agency has received several complaints from small businesses about abusive marketing practices, scams and exorbitant fees charged by companies offering to help businesses get a loan, grant or other federal funds from the SBA. Complaints received by the SBA’s Office of
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SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
From The Tax Adviser
October 31, 2025
Recent developments in estate planning
October 31, 2025
Current developments in taxation of individuals: Part 2
September 30, 2025
Current developments in taxation of individuals: Part 1
August 30, 2025
