Going solo doesn t have to be a game of trial and error. Careful planning can make it one of the most rewarding decisions of your accounting career. Now in its second edition and revised by author Brannon Poe, this book leads new solo practitioners through each stage of creating your own firm, bringing your vision to reality, and nurturing your practice to make that reality a success. Follow each of the book s five parts as it takes you chronologically from start to success. Each chapter is rich with strategies as well as stimulating follow–up questions that will help you define your goals and plans, drawing you to careful consideration of important factors such as: Creating concise mission and vision statements Establishing goals, standards, attitude, and skills that reflect a successful practitioner Anticipating financial needs Defining family involvement Shifting from employee to owner Understanding potential stumbling blocks Advancing your practice with a specialty Deciding whether to buy a practice Choosing a form of organization for your practice Building client relationships Keeping a focus on the future And much more! INDICE: Introduction to the Second Edition 1 .Introduction to the First Edition 3 .Part I Why Start Your Own Practice? 5 .1 Making the Decision 7 .Control 8 .Financial Gain 8 .Lifestyle and Family Support 10 .Entrepreneurial Spirit 11 .Personal Growth 11 .Questions 12 .2 Creating Your Vision 13 .Freestyle Writing 13 .Concise Mission and Vision Statements 14 .Developing a Mission Statement 15 .Developing a Vision Statement 16 .Practical Uses 16 .Questions 17 .3 Profile of a Successful Sole Practitioner 19 .Academic and Professional Experience 19 .Well–Defined Goals and Standards 20 .Work Skills and Habits 22 .Communication Skills 23 .Positive Attitude and Professional Demeanor 24 .Questions 25 .Part II Early Decisions 27 .4 Critical Considerations 29 .Managing Time 29 .Anticipating Financial Needs 33 .Addressing Competition and Economic Determiners 34 .Initial Client Base 34 .Shifting From Employee to Owner 36 .Family Involvement 36 .Understanding Potential Stumbling Blocks 37 .Insufficient Client Base 37 .Partner Mismatch 38 .Practice Acquisition 38 .Questions 38 .5 Generalist or Specialist? 41 .The Changing Accounting Field 41 .Beginning as a Generalist 43 .Advancing Your Practice With a Specialty 44 .Industry or Service Specialty? 45 .Defining Your Target Market 46 .Questions 47 .6 To Buy or Not to Buy? 49 .Advantages of Buying a Practice 49 .Matching Considerations 51 .Risks in Buying a Practice 52 .Risk Number One: Employees 52 .Risk Number Two: Client List Weighted Toward One Major Client 53 .Risk Number Three: Buyer Apathy 53 .Finding a Practice to Buy 54 .Striking the Deal 54 .Facilitating the Transition Between Seller and Buyer 56 .Maintaining Objectivity 57 .Questions 57 .7 Which Form of Organization for Your Practice? 59 .Sole Proprietorship 59 .Partnership 60 .Loose Association (Office–Sharing Arrangement) 61 .LLCs, LLPs, and Professional Corporations 62 .Practice Continuation Agreements 64 .Questions 65 .Part III Setting Up a Practice 67 .8 Choosing an Office Location 69 .Locating to Serve Your Target Market 70 .Working From Your Home 71 .Executive Suite Rental 73 .Renting Individual Office Space 75 .Determining the Amount of Space Needed 75 .Defining the Necessary Amenities 76 .Determining How Much to Pay 76 .Questions 77 .9 Financing Your Business 79 .Developing a Business Plan 80 .9 Financing Your Business continued Forecasting Your Financial Needs 81 .Revenue Goals 81 .Estimating Initial Key Costs 82 .Living Expenses 84 .Borrowing Money From Conventional Sources 85 .Borrowing Money From Unconventional Sources 86 .Postponing Going Solo 88 .Questions 88 .10 Operational Issues 89 .Measuring Important Results 90 .Staffing Your Practice 92 .Furnishing and Equipping Your Office 94 .Using Technology to Your Advantage 95 .Developing Personnel Policies 96 .Anticipating Quality Control Needs 97 .Establishing Good Life/Work Balance Habits 97 .Questions 99 .Part IV Practice Development and Client Management 101 .11 Building Your Practice 103 .Marketing 104 .Converting Clients From Your Previous Firm 104 .Website Promotion 105 .Social Networking 105 .Traditional Networking 106 .Capturing Referrals 107 .Direct Mail 107 .Telephone Marketing 108 .E–mail Marketing 108 .Writing and Speaking 109 .Publications 109 .Seminars 109 .Sales 110 .Questions 114 .12 Building and Nurturing Client Relationships 115 .Engagement Letters 116 .Pricing Services Properly 117 .Difficult or Undesirable Clients 118 .12 Building and Nurturing Client Relationships continued Handling Concerns About Scope of Services 120 .Managing Clients When You Make a Mistake 121 .Being Choosy About Clients 123 .Pricing, Billing, and Collections 126 .Making the Most of Client Meetings 126 .Generating Referrals Through Your Best Client Relationships 129 .Questions 130 .13 About the Price 131 .Creating Expectations 131 .Overcoming Fee Resistance 133 .Controlling Your Own Efficiency 135 .Client Circumstances Affect the Value of Your Service 137 .Deciding on the Specific Amounts 137 .Special Concessions to Start–Up Businesses 138 .Questions 139 .14 Getting Paid 141 .Require Upfront Payment 142 .Managing Accounts Receivable 143 .Questions 145 .Part V Anticipating the Future 147 .15 Staying Sharp Nurturing Your Development 149 .Professional and Technical Reading 149 .Continuing Education 150 .Conferences, Meetings, and Seminars 150 .Professional Organizations 151 .Other Forms of Professional and Personal Expression 151 .Questions 152 .16 Been There, Done That Advice From Successful CPAs 153 .Epilogue 157 .Appendix Page .A Engagement Letters 159 .B Sample Business Plan and Loan Proposal 177 .C FAST–PLUS Exercise 189 .D Client Evaluation Questionnaire 195 .E Lease Checklist 199 .F AICPA Resources for Sole Practitioners and Small Firms 205
- ISBN: 978-1-9373-5154-0
- Editorial: John Wiley & Sons
- Encuadernacion: Rústica
- Páginas: 224
- Fecha Publicación: 30/11/2016
- Nº Volúmenes: 1
- Idioma: Inglés