WELL, WELL, WELL. Who would have thought it? A non-public school boy, from a working class background, able to set up an accountancy practice and survive the first couple of months?
So far, so good is the verdict. I've tried to take on board all the good things from previous partners I've had and made a conscious effort to change all the bad practices I've been subjected to over the years.
As I sit here today overlooking the busy M6 motorway network, I actually feel like I could take over the world – build an accountancy practice like no other, adopt modern ground-breaking practices and offer clients a bespoke, personal, unique service like they have never experienced before. Sell it, head off down the M6 to the airport, get on my jet, and spend the rest of my years on a private island.
While this might be a way off, things are actually quite exciting back in the real world of accountancy.
I've adopted a truly paperless office, which means my office is half the size (and cost) of most practices my size, and staff are happy with flexible working – a mix of working from home and from the office.
We make sure that every day there is at least one technical staff member in the office to answer any client queries, and the other staff members are able to work from home via the power of ‘the cloud'. In fact, my overheads would be pretty much reduced to nil if I could figure out an alternative to the regulation accountancy software providers we know and hate.
The backing of the bank was the essential first step to ‘freedom', as was the overwhelming support of clients. The staff that have come with me are all on new innovative contracts that reward them for billing and bringing in new clients. What makes them happier still is that I have decided to ditch charge-out rates and time recording.
Time sheets are a thing of the past, in my opinion. The software providers would have us think otherwise, of course...
The Practitioner's uncensored thoughts originally came from the coalface of a regional firm in the heart of England – but now from within their own practice
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.