JANUARY 2012 BEST PRACTICE SUGGESTIONS
Every month we select some of the best ideas for practice improvement from the accounting literature. Here are the selections for January 2012.
BEST PRACTICE
LINK TO ARTICLE RESOURCE IN CPA LEADERSHIP REPORT
DATE OF ARTICLE
Management/People/Culture
What MPs Do?: Run business: 10-15%. Client Service: up to 25%. New business: 15-20%. Partner coaching etc. 10-15%. Governance: 10-15%. Strategy: 5%. Face of the firm: 5-10%.
January 2012
No More Saturdays: In lieu of mandatory work days--set goals for individual revenue and realization, and client deliverables (e.g., turnaround time, workflow targets), educate team on growth and profitability drivers, etc.
January 2012
Succession Planning/M&A
Disparity in Billing Rates a Deal Breaker?: Not if significant amount of target's work is being done by retiring partners.
January 2012
Risk Management
Successor Auditor: Find out reason for change; any disagreements with prior auditor? Look at SEC filings; communicate with prior firm; check for frequent auditor changes and opinion shopping.
January 2012