Source: AICPA CPA Insider

Consultant Steve Ericson says changing times (times that will never return to the way they were), call for a new management approach that he calls "active management." It means intense involvement by management in an environment of hardnosed accountability for goal achievement.

Here is a recap of his formula:

• Every partner writes a plan for 2010 -- fees per month, hours managed, and a time budget.
• The total of all partner plans is the firm's budget for 2010.
• Staff should prepare similar plans.
• Adopt a firm-wide credit policy.
• Bill and collect in advance.
• Use "stop work" clauses in engagement letters.
• Avoid "scope creep." Institute and enforce a change-order process.
• Budget every job.
• Ensure that every person in the firm:
  • Understands what is expected of him/her.
  • Always has work to do.
• Pay close attention to scheduling to avoid time losses.

For the complete article, click here and read "How to Have Your Best Tax Season Ever," in the January 11, 2010, issue.

From AICPA CPA Insider, January 11, 2010, www.CPA2biz.com.

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