The management and structure of accountancy practices
Article Abstract:
UK accounting practices typically concentrate on the serving of clients rather than management. The management and structure of an accounting firm must be determined by the collective decisions of the partners and must be implemented only after the partners clearly define their objectives and reach agreement on the firm's goals. There are three types of options for the structuring and management of an accounting practice: the leader practice, where a senior or dominant partner makes the decisions and delegates specific tasks among the remaining partners; the democratic practice, which is based on the consensus of opinion reached by a vote of the partners; and the committee practice, in which individual partners' strengths and weaknesses are recognized and tasks are delegated accordingly. The partnership agreement is fundamental to the type of management structure that can be implemented as the agreement sets out the ground rules that the partners will abide by.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1990
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Putting the fun back into practice management
Article Abstract:
The Chartac Interfirm Comparison Scheme is a valuable benchmarking exercise that can be used to evaluate a practice's operations, establish new performance targets and create a viable plan for the future. When using the Chartac Interfirm Comparison Scheme, the simple act of collecting information can be very informative since it allows individuals to focus their attention on the analysis of a practice's basic operating measures. After the comparison is completed, results can be used to create an analytic outline of a practice's performance. This analysis, in turn, leads to a diagnostic process that allows a comparative framework to be built for analyzing where performance improvements can be secured.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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Succession solutions
Article Abstract:
General practices are pivotal in advising and providing accounting services to the UK's 3.4 million small and medium-sized enterprises (SMEs) and the issue of succession can present an enormous problem, particularly for the smaller firm. People interested in succeeding to general practice are often hard to find, and hence practitioners need to present their firms as attractive businesses in their own right with long-term prospects for a new generation for this essential sector of the economy.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2006
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