IDENTIFYING HIGH PERFORMING CPA’SANATOMY OF A CPA

360˚ DEGREE ASSESSMENT

Gatto Associates, LLC750 Washington RoadPittsburgh PA 15228

412-344-2277Rex Gatto, Ph.D., BCC

www.rexgatto.com

Overview

Defining Talent viaFeedback and Development 360˚ Assessment

Anatomy of an Accountant

Develop Talent

• to firm success is to ensure partners to staff are in a growth and developmental process

Key

• on skills, behaviors, and needed technical knowledge

Focus

• measureable growth each year

Demonstrated

Strengths and TalentsThis process outlines strengths and talents through self-assessment, upward feedback from staff, managers, and partnersPartners and managers through this process become role models for appropriately receiving feedback and demonstrating how to effectively utilize it

Partner, managers, and staff, through an assessment process:

Complete the assessment on lineReceive Feedback

Develop an Action Plan

Demonstrate how to effectively utilize feedback

With The Anatomy of an CPA Inventory, you can compare the characteristics of your firm’s accountants with those of participants high and low performing accountants.

TOOLSAnatomy of a CPA

Feedback

CPA Skills

Research indicates that every job function can be broken into a series of skills (dimensions) set to fulfill responsibilities

Job analysis: identifies tasks, processes, functions that makeup the job responsibilities

Job competency factors needed to be successful in a firm

Skills Factors

Client RelationshipCommunicationBusiness knowledgeProblem solvingComputer knowledgePractice developmentInterpersonalLeadershipProfessional presence

PlanningCreativityAccountabilityInitiativeTeamworkAdaptabilityIntegrityCompetence

The combination of the above skills/competencies can highlight ability.

Anatomy of a CPA Example

Anatomy of a CPA Example

17 Ways to measure a CPA

17 Ways to measure a CPA Example

Narrative Example

CPAs Do the following

Provide the advice and information to people that is needed to make important financial decisions

Help their clients make sound financial judgments by analyzing and interpreting data

Examine “what if” possibilities Explain complex laws (local, state, and

federal), rules, and regulations Help clients plan, save, and invest money

Picture of a Successful CPA

Academic, business and practical knowledge Ability to communicate and connect with

(people) clients, partners and staff Organize, write, analyze, compare, and

interpret facts and figures Understand computers and accounting

software People skills, ability to build relationships Integrity, trusted advisor

Questions

What are your top three skills?

In general what are the top three skills of your partners?

In general what do your clients want from you?

Anatomy of a CPA Study 2012-13CPA Feedback: 504

Anatomy of a CPA Highs 2012-13

HighsCPA Feedback: 504

Strongest score indicates the right areas for CPA skill set. The score focuses on two key areas, the ability to perform accounting skills at a high level, and the ability to build client relationships.

Client RelationshipsClient Relationships: Score = 88%

Demonstration of good organizational skills?Maintain clear and organized work papers?

Meet client expectations?

Follow through with client needs?

Maintain good client working relationships?

Complete client engagements in a timely fashion?

Computer KnowledgeComputer Knowledge: Score = 88%You have the required proficiency to effectively use computer hardware and software?

You maintain proficiency with updated software?

IntegrityIntegrity: Score = 89%

Demonstrate honesty and independence?

Fulfill all work-related responsibilities fully and completely?

Demonstrate trustworthiness?

Demonstrate the principles and values of the firm?

CompetenceCompetence: Score = 88%Demonstrate business acumen?

Have the ability to perform work-related responsibilities ?

Produce a quality work product?

Demonstrate the ability to get the work done?

Demonstrate the ability to appropriately and professionally relate to coworkers?

Have the ability to work as an effective team member (or in a niche)?

Have the ability to professionally work with others?

Demonstrate the ability to address questions?

Anatomy of a CPA LowsLowsParticipants: 90CPA Feedback: 504

Lower scores need to be enhanced even though they are moderately strong ratings. The two key areas that could be enhanced indicate the ability to build the practice creatively and to plan and take the initiative to before performing the work.

Practice DevelopmentPractice Development: Score = 76%Discuss with clients other services the firm can provide?

Work with others in the firm to provide or develop new services?

Get involved in professional or community organizations?

Effectively and clearly present your ideas?

Give effective presentations to clients?

Participate as a board member in community organizations (example: non-profits)?

Appropriately represent the firm?

PlanningPlanning: Score = 81%

Appropriately lead engagements?

Set realistic and challenging goals and objectives?

Clearly state expectations of an engagement?

Appropriately organize client work?

Check progress and adjust goals periodically?

Make effective use of billable time?

CreativityCreativity: Score = 80%Creatively work with clients?

Encourage and support new ideas?

Demonstrate creativity?

Encourage creative actions by others?

Present ideas in meetings to generate business opportunities?

InitiativeInitiative: Score = 81%Maintain an appropriate book of business or client base?

Continually reevaluate plans to update and improve them?

Routinely assess competitive strategies, looking for new business opportunities?

Make follow-up calls and visits designed to exceed clients’ expectations??

Display a strong personal commitment to the firm?

Effectively work independently on assignments when required?

Display common sense and practical application of accounting knowledge and skills?

Summary

Challenge your people to become

the Best they can.

ANATOMY OF A CPA 360˚ DEGREE ASSESSMENT

Gatto Associates, LLC750 Washington RoadPittsburgh PA 15228

412-344-2277Rex Gatto, Ph.D., BCC

www.rexgatto.com