MAY 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 May 2012.
BEST PRACTICE
LINK TO ARTICLE RESOURCE IN CPA LEADERSHIP REPORT
DATE OF ARTICLE
Succession Planning
Payments to Retiring Partners: Cap the amount of payments that can be made to all retiring partners at one time, typically six percent to eight percent of revenue.
May 2012
Internal Buyouts: There are certain advantages to buyouts by individual partners, but having the firm be the buying entity is sometimes more equitable.
May 2012
Marketing
Most Effective Marketing Tactics: The best firms are focused on online advertising, email promotions, and social media. Low-performing firms continue to push seminar selling, website upgrades, and search engine optimization.
May 2012