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

Overview

Defining Talent via

Feedback 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 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

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 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.

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 2012-13

CPA Feedback: 504

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?

Summary

Challenge your people to become

the Best they can.

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