Date post: | 19-Jul-2015 |
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IDENTIFYING HIGH
PERFORMING CPA’S
ANATOMY OF A CPA
360˚ DEGREE ASSESSMENT
Gatto Associates, LLC
750 Washington Road
Pittsburgh PA 15228
412-344-2277
Rex Gatto, Ph.D., BCC
www.rexgatto.com
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 knowledgeFocus
• measureable growth each yearDemonstrated
Strengths and Talents
This process outlines strengths and talents through self-assessment, upward feedback from staff, managers, and partners
Partners 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 line
Receive 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.
TOOLS
Anatomy of a CPA
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 Relationship
Communication
Business knowledge
Problem solving
Computer knowledge
Practice development
Interpersonal
Leadership
Professional presence
Planning
Creativity
Accountability
Initiative
Teamwork
Adaptability
Integrity
Competence
The combination of the above skills/competencies can highlight ability.
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 Highs 2012-
13Highs
CPA 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 Relationships
Client 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 Knowledge
Computer Knowledge: Score = 88%
You have the required proficiency to effectively use computer
hardware and software?
You maintain proficiency with updated software?
Integrity
Integrity: Score = 89%
Demonstrate honesty and independence?
Fulfill all work-related responsibilities fully and completely?
Demonstrate trustworthiness?
Demonstrate the principles and values of the firm?
Competence
Competence: 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 Lows
Lows
Participants: 90 CPA
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 Development
Practice 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?
Planning
Planning: 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?
Creativity
Creativity: 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?
Initiative
Initiative: 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?