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October 2015 Article Archives

IPA Internal Operational Reports Released - Firm Administration Report Sponsored by CPAFMA

Published on October 08, 2015

The INSIDE Public Accounting Internal Operational Reports have been released. The firm administration, human resources and information technology reports dig deeper into the operations and best practices of participating accounting firms across the U.S. The firm administration operational report is sponsored by CPA Firm Management Association (formerly Association for Accounting Administration). The report provides information on administrative costs, partnership issues, compensation, charge hours, utilization, business incentives, workflow/accounts receivable and more.

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Calling Those Interested in CPA Firm Technology: 2015 Technology Fly-In Details Released

Published on October 01, 2015

Great information was shared at the Technology Fly-In in Chicago. While my role has changed, I always learn so much at this event. All of the speakers are exceptional; it is so evident that each loves what he/she does. The exchange of information is invaluable. – Amy Enzweiler, ScrogginsGrear, Cincinnati, OH

This year's Technology Fly-In will be held November 10-11, 2015 in Chicago. Click here for a copy of the event flyer.

AGENDA

Tuesday, November 10, 2015

9:30 a.m.                                        
Check-In and Networking

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O Say Can You See?

Published on October 01, 2015

O Say Can You See . . . yourself at an educational event designed specifically for those professionals managing accounting practices of varying sizes?  The two-and-a-half day educational extravaganza and exchange has something for everyone with sessions that range from the beginner to the advanced levels with high-level practice management courses to smaller breakout sessions geared toward specific problem-solving to informal gatherings designed to facilitate networking and information exchange.  Whether you are new to CPA firm management or a veteran, this CPAFMA National Practice Management Conference is for you!

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Pre-Season Recruiting Warmup

Published on October 01, 2015 by PCPS

With the start of the new school year in full swing, it’s the perfect time to turn attention to the firm’s college recruiting plans. You see, just a little extra preparation now can give your firm an added advantage once recruiting season kicks into high gear.

Here are four tips to consider for your playbook.

Rally the Team
What are your overall recruiting goals?
Who will lead the firm’s recruiting efforts this year?
Who will play what role?

Get your recruiting team together for a pre-season meeting. Talk about the firm’s overall recruiting goals. Identify who will lead the firm’s efforts and who will play what role during the recruiting season.

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INSIDE Public Accounting Releases The 2015 National Benchmarking Report

Published on October 01, 2015

SOLID REVENUE GROWTH, STEADY PROFITS, STAFF SHORTAGES MARK LAST FISCAL YEAR FOR NATION’S PUBLIC ACCOUNTING FIRMS

The nation’s accounting firms are showing solid growth in revenues with growing emphasis on non-traditional services, according to the just released INSIDE Public Accounting’s (IPA) National Benchmarking Report.

Merger activity is still strong, with one in five firms reporting at least one acquisition in the last fiscal year. Mergers have added an average of 2% to net revenue growth for all firms that participated in IPA’s Annual Survey and Analysis of Firms. The report provides detailed information in 80+ pages of tables presented in nine different revenue bands so firms can easily compare with other similar-sized firms. All but the smallest revenue band experienced an average of 4.5% to 7.9% top-line organic growth in net revenue, the report says, and some individual firms saw increases much larger than that, with rare examples of organic growth above 20%.

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Invest in Your Success

Published on October 01, 2015

You are educated. Your certification is in your degree. You may think of it as the ticket to the good life. Let me ask you to think of an alternative. Think of it as your ticket to change the world. - Tom Brokaw

One of the first things members of the CPA Firm Management Association (formerly the Association for Accounting Administration) discussed when forming in 1984 was certification. As many of our members cited, a designation for those managing an accounting firm would lend credibility and provide a path to gain experience and knowledge.  It is widely known that firm management requires different skills and experiences than those used in other areas of accounting.  The role is unique from firm to firm and constantly changing.

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Taking the Next Step: From AAA to CPAFMA

Published on October 01, 2015

There is nothing permanent except change. – Heraclitus

The CPA firm administration field has changed and grown dramatically since AAA was founded 31 years ago. It is time for the Association for Accounting Administration to take the next step in supporting those dedicated to CPA firm practice management.  We are now the CPA Firm Management Association (CPAFMA) and we are excited about what the future holds!

The Association of Accounting Administrators was founded on January 1, 1984, to enable accounting firm administrators to communicate with one another and provide each other with the benefits of everyone's experiences in what was a new and emerging profession.

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Developing an IT Leader Communication Toolkit

Published on October 01, 2015 by Eric Benson, Boomer Consulting

I have lost count of the number of times I start talking about a technology concept and end up getting a stunned look. I don’t think the stunned look is the result of my commanding knowledge of the subject. Rather, I am speaking in a framework that I am comfortable with, but my listener is not.

This is true of any specialized profession, but I believe that technology provides a special circumstance. In most professions, change is annual and incremental. The amount of knowledge may be broad, but it is also specialized in one area. However, in an accounting firm, the audit staff does not need detailed knowledge of the business tax processes to do a job well. In information technology, the overlap to any other profession can be very high. Almost everyone uses a computer to do part, or all, of their work.

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Post Your Free Jobs for Accountingfly Meet the Firms Week

Published on October 01, 2015

From it's inception in 2012, Accountingfly Meet the Firms Week has grown to become the largest national career fair in the accounting profession. This year Accountingfly has joined forces with a CPAFMA partner, AICPA PCPS, to take the event in a new direction. Their focus is to educate students on the wide-range of career opportunities available in public accounting and to connect them with outstanding public accounting employers, like you.

Here are the details:

To learn more and get started, click here.

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Thriving on Busyness

Published on October 01, 2015 by Jim Fahey, AAAPM, Chief Learning Officer, HBK CPAs

My second favorite class in college was Psychology Applied to Work. It was truly eye opening – there was more to the corporate life then just plugging away at your computer and meetings. It was about relationships, people skills and managing time and resources. Just simply understanding why people do things and how each of us are different helped me in starting my career. Over time (25 tax seasons later) and a lot of wisdom gained along the way, I’m still learning and have a long way to go yet.

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