During these unprecedented times, it is difficult to predict the future. Thus, the leaders of today’s CPA firms should focus on planning for various options based upon as many possible scenarios as possible. This type of planning explores plausible potential business models and implementation processes for impending unknowns.
Read MoreDuring these unprecedented times, it is difficult to predict the future. Thus, leadership should focus on planning for various options based upon as many possibly scenarios as possible. This type of planning explores plausible potential business models and implementation processes for impending unknowns.
Read MoreAs the economic recession and health concerns in our nation are at a pivotal point and closely linked in a "Perfect Storm," strategic-oriented CPA firm leaders will take more of a holistic approach to manage and lead their firms.
Read MoreThe COVID-19 pandemic has forced many changes in the accounting industry and its clients. Some of these changes were ad hoc, temporary, and unpolished, and unfortunately, we will need to continuously address the effects of the pandemic for quite some time.
Read MoreA quick scan of an accounting industry newsletter, periodical, blog, or other related media will reveal one common trend of business activity – mergers and acquisitions of CPA firms.
Read MoreMost merger and acquisition deals typically go through five stages: preliminary discussions; transactional detail meetings and negotiations; an initial agreement outlined in a memo of understanding or letter of intent; due diligence; and the transaction agreement and signing of the partner/shareholder agreement.
Read MoreNow more than ever, firms need to be proactive and pivot as we all address many new daily challenges and do our best to continue operating in a ‘new normal,’ which is nothing close to being ‘normal.’ Most businesses are being forced to move to a remote working environment.
Read MoreThe marketplace for CPA firms is continuously changing as large firms seem to dominate the online accounting space with their broad range of services and significant resources. It is imperative that small firms develop a brand and an online presence to position themselves competitively in the marketplace.
Read MoreOne of the most significant reasons for succession planning problems in public accounting is the vast number of “comfort-zoners” in the partner ranks. Many comfort-zoner partners are very competent accountants, dedicated and hardworking, and good client service professionals.
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