In his continued coverage of partner compensation plans, Bill Reeb takes a look at compensation formulas that support his "Building a Village" model. Reeb's keen insight and years of CPA firm consultation experience come together with advice for setting up a compensation system that is built to generate more total partner compensation. To get there, this article focuses on ownership equity, compensation guaranteed salaries and retirement benefits.
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As a continuation from last issue's article on the five "P's" of marketing, ConvergenceCoaching's Jennifer Wilson takes a look at the next two "P's": product and service mix and place. This article gives firms information on conducting an annual analysis of strengths, weaknesses, opportunities, and threats for all of the firm's products and services, as well as determining the "place" you will sell your services or your ideal target client communities.
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Now you can read even more results from AOMAR's 2008 CPA Firm Practice Management Survey, including chargeable and total hours and chargeability.
For most CPA firms these days, growth is the goal. Choosing and developing a niche can be a key growth strategy. In this article from the recent issue of Accounting Office Management & Administration Report (AOMAR), four firms share their stories of growth including growing a niche within a niche, value billing and helping clients improve their performance.
Check out the latest billing rate trends from AOMAR's annual CPA Firm Practice Management Survey. The results cover both owner and staff billing rates, broken down by fees and number of personnel. This article also includes five tips to boost your firm's hourly rate.