Adamson Advisory

It’s The Time of Year to Plan Your 2017 Budget. What About CPE?

Whether you have a very large firm or a very small firm, how you spend your CPE (Continuing Professional Education) budget is something that takes thought and planning. It is a very important activity inside your firm.

Of course, you need to focus on developing the technical skills of your employees, especially the beginners. CPA firms focus on the various “level” training courses for their one, two and three-year team members. Staff level training is offered by state societies and other vendors and is a great benefit to those beginning their careers in public accounting.

After that initial investment, further expenditures for the benefit of staff seems to decline. Dollars are allocated on keeping up with audit and tax issues but not so much for supervisory, management and leadership training. Firms tend to procrastinate on these very important skills that could mean success for the firm in the future.

Many firms hand out titles without the education and training to back it up. In many cases, CPA firm managers have no clue how to manage. They were given the title because of technical expertise and longevity. Maybe a supervisor is encouraged to attend a one-day “supervisory” training course like the ones offered by vendors across the country, not specifically for the CPA profession. Often, it doesn’t go any further than that.

If you send some of your people to the well-known CPA leadership training courses, I urge you to seriously evaluate the effectiveness of the course. After your people complete a leadership course, monitor their progress. Initially, they are excited about the whole experience but does it last? Do they demonstrate the leadership skills they learned or did they attend leadership training just to promote their personal career?

As you prepare your CPE plan for the coming year, balance the technical with the career-enhancing skills and then monitor the performance of the individuals as they build on what they have learned.

Leadership in a CPA firm means being able to get diverse individuals to work together as a team to achieve a common goal. It means that your CPA team will out-perform the competition. To get there you must be generous with your CPE budget. It’s an investment in the future of your firm.

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