The Game Changed—You Need Elite Partners (Quarterbacks) to Win

Going back through the history of Super Bowl winners, the old axiom for a winning formula was a combination of a strong running offense with a dominating defense. However, the rules and the game have changed and now favor teams with talented (elite) quarterbacks who can change plays quickly after analyzing the competition—the new winning formula. Similarly, the game and rules have changed in the accounting profession. In order to have sustained increases in growth ... continue reading

Top RedZone Posts from 2017

We are happy to share some of the most popular RedZone posts from 2017. Thank you for providing your RedZone comments, feedback, ideas and thought leadership with us. Navigating Through Preliminary Merger Discussions Most M&A 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 MORE ... continue reading

T’was the End of the Year . . .

T’was the end of the year and all through the firm, Not a staff person was stressing, not even an intern. The staff they were celebrating today without a care, Knowing that next tax season soon would be there. The partners had nestled in to plan the year ahead. While visions of bonuses danced in their heads. And I on the phone, receivables still to collect, Was thinking of my own bonus to protect. When ... continue reading

Predictions for 2018 and Beyond

As we close-out 2017, the accounting profession landscape is changing rapidly.  The firms that will take full advantage of the huge opportunities for the accounting profession in 2018 and beyond will be those that: attract and retain the best staff; run their firms more like a business vs. a practice; have a sense of urgency to decide on important decisions; have contemporary and strategic leadership; offer more formal advisory and consulting services; adapt quickly to ... continue reading

Success Factors of CPA Partner Relationships — Collaboration

Part II Collaborative partner relationships are one of the most critical success factors for a CPA firm. The partners’ ability to work harmoniously with each other and possess the deep knowledge and understanding of what makes each other “tick” is essential to creating and sustaining successful partnerships. In Part I of this article, we discussed a “Shared Vision” and “Trust” as key factors. Over our many years of experience advising and consulting to CPA firms, we ... continue reading