This is the "Best Practice in Accounting" show on behalf of the Accounting Influencers Broadcast Network. In this show, we focus on upskilling the accountants, bookkeepers, CPAs and commercially focused fintech vendors to better handle key challenges in their professional roles like client service, closing deals, negotiating, pricing, hiring, reputation and differentiation. It's all about developing yourself and your practice with real-life examples, stories and case studies of what works.
Episode 3. In today's episode, "A Great Way to Solve Accounting Partner Politics."
Key takeaways from this episode include:
❊ what happens when partners disagree on significant issues in an accounting firm
❊ the problems and upsides presented by 'go-ahead' partners in a traditional accounting practice
❊ a thoughtful way to settle the compliance vz advisory argument in an accountancy firm
❊ the wisdom of setting up separate companies within accounting firms around different service lines
❊ the importance of a win-win solution when accounting firm disagreements happen at the partner level
Action - when disagreements occur at higher levels in an accounting firm or office politics threaten to disrupt harmony, be creative in looking for win-win outcomes.
In this show we cover topics like leadership, trust, performance, differentiation, employer brand, values, vision, strategy, talent, skills development, industry trends, growth, marketing, communication, succession, recruitment, retention, culture, M&A, business models, pricing, digitisation, winning clients, advisory, career development, gen z/millennials, ESG, DEI, CSR, CPE/CPD, professionalism and future-proofing.
You must stay ahead of the game by knowing the drivers of change and disruption in accounting, the behaviours/demands of businesses requiring pivots/services from accountants, the strategies of tech/software vendors in serving CPAs and accountants, the directives, thoughts and influence of regulatory bodies, professional associations and accounting institutes, and the themes, agendas and topics being talked about at accounting and fintech events all over the world.
Two caveats for listeners:
First, we're giving you suggestions, hints, tips and strategies in this podcast. Not necessarily recommendations, not legally binding, and not mandated by regulatory bodies. just the thoughts, opinions and interpretations of a couple of guys with a collective 45 years of experience working with, speaking to and training many accounting practices, vendors, networks, associations, alliances and event audiences.
Second, we're not getting too technical or technological with these best practice tips. We're not qualified accountants, and there are plenty of sources for technical knowledge. We're also not geeky, nerdy or product focused with the bewildering array of apps, platforms and technological solutions. We're more soft skills, personal development, general business awareness, developing entrepreneurial thinking, boosting leadership and management capability.
Let's not forget what a complex, fast-moving and rapidly changing world we live in. The best practice is hard to put your finger on. What worked last week, last year may not work now. Advisors and accounting professionals must constantly reinvent themselves as experts and trusted guides to individuals and business owners in a complex world. We're here to help you.
Ultimately, it's just insight, though. Knowledge is easy to find but not easy to make sense of and make part of your offering, authority, and expertise. You've got to take action, share it with others, and use it somehow to become powerful. Weave it into your thinking, client interactions, team meetings, and everyday conversations. That will move you from good to great in your accounting role
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Mentioned in this episode:
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