In the rapidly changing world of public practice, growth in revenue does not guarantee an increase in profit. Profitable growth should be your #1 objective.

According to the 2015 Good Bad Ugly National Benchmark report, average net profit (BPS) for all firms was around 34% revenue with the upper quartile of firms achieving an average result of around 44%. Some high performing firms had net profit (BPS) result approaching 50%. What are high performing firms doing differently that allows them to achieve exceptional results?

Do you really understand the key drivers of profit in your firm? And how can you implement strategies based on these key drivers to improve your firm’s profit margin?

In this 2 part program, we’ll take you through a 7 step process that’s guaranteed to improve your firm’s profit to at least 40% of revenue within 12 months. For firms already at this level, we’ll show you how to achieve a net profit result approaching 50% of revenue.

Key actions discussed will include:

1. Establishment of profit and cost centre approach to services
2. Development of benchmark KPIs for operational and staff expenses
3. A focus on strong leverage of compliance and advisory workflow
4. Streamlined throughput of workflow to improve turnaround time
5. A strategic approach to client and service selection
6. Implementation of a formal pricing strategy ensure internal ROI
7. Use of tools, systems and processes to create efficiencies

You probably do this for your business clients, so why not for your own accounting firm?

What’s included in this online program:

1. Two Live Sessions – We’ll run 2 online sessions, both 60 minutes in duration, to help you implement processes to improve your firm’s profitability.
2. Documented Procedures – We’ll provide procedures for all key actions outlined in the program, including delegation of client relationship responsibility, throughput of work, development of pricing policy, prevention of scope creep and regular review of KPIs at an individual and team / firm level.
3. Workbook – We’ll provide a workbook to assist you and your team in developing a specific and relevant action plan.

Who should attend? : All staff of accounting firms who are involved in the allocation of internal resources, delivery of services and management of people.

Date:  Session 1: Wednesday 13th July 2016. Session 2: Wednesday 20th July 2016
Times: 12.30pm – 1.30pm AEST | 2:30pm – 3:30pm NZST
Fee: $220 inc GST per firm, per location
CPD: This program is eligible for 2 CPE / CPD Hours. A certificate will be provided on request.

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For Accountants

The official account of For Accountants, an online resource specifically designed for accountants in public practice.

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