BOOMER CONSULTING,ING.

A BOOMER STRATEGIC ADVANTAGETM GUIDE TO DEVELOPING MANAGERS 1

GUIDE TO DEVELOPING MANAGERS “PEOPLE DON’T LEAVE BAD FIRMS—THEY LEAVE BAD MANAGERS.” —ANONYMOUS 2

INTRODUCTION A BOOMER STRATEGIC ADVANTAGETM The Accounting Profession Manage People. This Guide In Their Firms.the Boomer Advantage Guide To Today Employs Many Gifted Will Help Your Firm Explore Human Capital Attraction & Retentiontackled This Issue Individuals Who Possess The Its Practices And Attitudes At A High Level. Thisguide Dives Into The Issue A Little Technical Skills To Perform Toward Mid-Level Managers, Deeper To Address The Root Cause Of Firms’ Retention Atan Extraordinary Level. As Well As Offer Strategies Woes—The Inability To Develop And Retain The Recognizing These Skills, To Retainthis Important Firm’s “Middle.”Keep In Mind That This “Middle” Includes Owners Select The Best And Group For The Future. So Not Just People With A “Manager” Title But Also Brightest And Elevate Them What Is The Difference Senior Professionals Who Are On Track To Be Promoted To Mid-Levelmanagement, Between Leadership And And Manage Others. It Also Includes Employees Hoping They Will Transfer Management? Leaders Who Are On The Fast Track Tobecoming Partners. Their Capabilities To Co- Chase Firm Vision, While Workers And Cultivate An Managers Chase Firm Goals. Entire Team Of Superstars. Leadership’s Concern Is With The Problem Is That While The Overall Direction Of The Management Is Typically Firm, While Management Required To Complete The Focuses Onday-To-Day Education Necessary To Learn Operations.aicpa Members Technical Skills, Firms Overlook Consistently Rate Retention Offering The Necessary And Attraction Of Talent As Preparation To Actually The Most Important Issue This guide will help you: • Learn the proper meaning of “management” • Identify your firm’s challenges in retaining its middle • Face the consequences of failing to invest in managers • Identify your firm’s Dangers, Opportunities and Strengths™*as they relate to developing managers • Discover strategies to meet the challenges of developing and retaining your firm’s managers Prepare to work hard and be completely honest. Your firm can make positive progress toward developing itsmanagers; the pages ahead will help you begin this process. 3

CONTENTS 5 7 What is “Management”? 12 Why Do Firms Neglect the Middle? 16 Ignoring Generational Differences Focusing on Chargeable Hours & CPE 17 Failing to Provide Adequate Training 21 Fear of Not Recognizing Return 22 Failing to Provide Authority Along With Responsibility Consequences of Failing to Invest in Managers 27 Assess Your Firm Quality of Management Scorecard Evaluating & Documenting Your Firm’s Dangers, Opportunities & Strengths™* (D.O.S.) Face the Challenges Make Generational Differences a Strength Focus on More Than Chargeable Hours & CPE Don’t Allow Fear to Foreclose the Future Provide Authority Along With Responsibility Make the Necessary Investment Training and Learning: An Essential Investment Conclusion Appendix—Tools One-Page Plan 90-Day Game Plan Accountability Review About the Authors Sandra L. Wiley, COO Jim Boomer, MBA, Senior Consultant 4

WHAT IS “MANAGEMENT”? “THE GREATEST CHALLENGE TO ANY THINKER IS STATING THE PROBLEM IN A WAY THAT WILL ALLOW A SOLUTION.” —BERTRAND RUSSELL 5

WHAT IS “MANAGEMENT”? Management is a term ”Unfortunately, managing firm that providesthem with that means many different people has become an what they need to excel. This things to professionals in afterthought in many firms, impacts a firm up and down the accounting industry. and it mostly occurs when its hierarchy. Dependingon the person, it crisesarise. Firms choose to Fortunately, this problem may imply the people who focus only on client projects can be solved. It requires manage the firm, people who and chargeable hours. Even support and dedication manage client relationships or if they realize the importance from the firm’s highest levels peoplewho manage others. ofmanaging people, firms are as well as an investment of often reluctant to invest the In his latest book, It’s Okay time and money to develop To Be The Boss, Bruce Tulgan time and money necessary to the firm’s middle. Before defines management as train employees to begood facing this challenge head- “Telling employees what managers. on,however, first consider the to do and how to do it, by This neglect of the firm’s issues that may be keeping monitoring and measuring middle is the root of the your firm from developing and documenting their accounting industry’s its managerial talent. The performance, by solving retention woes. When following section considers problemsquickly, and by managersare not offered these in detail. singling people out for the time and resources to rewards when they do a develop a balanced skill- great job. set, they begin to seek out a Senior Management Middle Management Junior Staff Senior managers will Middle managers unior staff will follow the struggle to find suitable will leave to look for goodmanagers or seek successors as the betteropportunities. out the firms thatemploy pipeline dries up. them. 6

WHY DO FIRMS NEGLECT THE MIDDLE? “MEN OF ILL JUDGMENT OFT IGNORE THE GOOD THAT LIES WITHIN THEIR HANDS, TILL THEY HAVE LOST IT.” —SOPHOCLES 7

WHY DO FIRMS NEGLECT THE MIDDLE? Many firms either 1) Fail to recognize the to spend all of their time working on clients— importance of developing managers or 2) often at the expense of working on the firm Simply choose not to makethe necessary by developing others’ skills. In order to better investment. The most prevalent reasons cited serve clients and to meet CPE requirements, by firms are outlined below. they also feel pressure to spend the entire training budget on developing technical skills Ignoring Generational Differences with nothing left over for management skills. The adage, People do not leave bad firms—they leave bad managers, has never been more relevant. Generations Xand Y are flooding the workplace, and they are significantly different than Builders and Baby Boomers*. Relyingon firm loyalty to keep employees around is not enough. A firm must offer the total package—a pleasant workenvironment, work/life balance and challenging opportunities to succeed and develop as a professional. A majority of firms have Builders and Baby Boomers in leadership positions. These generations were engrainedwith the mind- set that hard work and putting in enough time guaranteed success. Generations X & Y see thingsdifferently—they are impatient and skeptical. They want an opportunity to Failing to Provide Adequate Training succeednowas a result of hardwork—not time Those who are charged with management allocated to work! The failure to grasp this reality has cost firms many great employees must understand how to develop a training/ learning program, solicitclient feedback, who have left to find that total package. chart firm standards, policies and procedures Focusing on Chargeable Hours & CPE AND manage a team of people. To succeed Partners in most firms are compensated on a in thefinal endeavor, they must master the book of business and chargeable hours. As necessary “soft-skills.” Unfortunately, many a result, mid-level managers feel pressured firms do not consider theseskills as essential. 8

MANAGEMENT? Fear of Not Recognizing Return Some firms worry that they will not reap a return on investment in developing managers. Others fear that theinvestment will walk across the street to work for a competitor. The risk that employees will leave for anotherfirm and take the knowledge and expertise you’ve helped them attain is one that has always existed—and alwayswill. However, if you succumb to this fear, those with the potential to succeed as managers will leave anyway toseek better opportunities. These are all valid concerns, but also consider the costs of constantly recruiting and training new employees.Maintaining that cycle will invariably cost more than developing those the firm already employs. Developingthese people is an investment that you simply cannot afford NOT to make. Failing to Provide Authority along with Responsibility While partners frequently delegate decision-making responsibilities to managers, they often fail to release theauthority necessary for a decision to be implemented. In other words, they have the what, how, and who in theback of their minds when they delegate, but they only communicate the what. If a manager is only told the what, he or she will likely attack the problem in a manner that, from his or her perspective, provides the best chance of success. There is nothing more frustrating for managers than to believethey have the responsibility and authority to make a decision—only to find out the only “correct” approach isone the partner would have selected. Partners have a choice. They must either 1) Let go of the “I’ve always done it that way” attitude and realize that there are other—and often better— ways of getting things done or 2) Communicate a specific approach and criteria for an assignment. Any other option leads to frustration for both the partner and manager! Five Steps to Effective Delegation 1. Select the Right Person—Match skills and capabilities with the task. Your selection should bebased on talents—not simply on convenience. 2. Specify the Desired Result—Communicate clearly the result you are looking for (expectations)and specify what it looks like when it is done well (criteria). 3. Set a Deadline—A reasonable timeframe creates accountability. 4. Determine Authority—Determine the level of authority you intend to grant those taking anaction and making decisions. Make sure each individual understands that authority level. 5. Track Progress and Results—Set up a mechanism for those responsible to report progress and communicate issues. 9

CONSEQUENCES Consequences of Failing to Invest in Managers Though developing managers may present noteworthy challenges, consider the outcomes if your firm fails tomake the effort. • Financial—If the firm loses people—especially its best and most experienced—it will have to make asignificant, ongoing investment to recruit and hire replacements. This investment will invariablyoutweigh the one required to develop those it already employs. • Culture—It is burdensome to sustain a thriving work culture when employees come and go. • Human Resources—If HR personnel are constantly transitioning employees in and out, they are taken away from efforts that pay off in the long run—making the work experience better for existing employees. • Process—If your firm is like most, it does not plan and document its processes. This leaves gaps inunderstanding, and even the best employees cannot execute to their full potential. • Succession Planning—A firm’s culture and sustainability are served best by developing leadersfrom within. Opportunities for ongoing skills development result in a pool of future leaders throughoutthe firm. NOTES 10

ASSESS YOUR FIRM “OPPORTUNITIES ARE OFTEN MISSED BECAUSE WE ARE BROADCASTING WHEN WE SHOULD BE LISTENING.” —AUTHOR UNKNOWN 11

ASSESS ASSESS YOUR FIRM Quality of Management Scorecard Use the scorecard below to determine how employees in your firm feel about the quality of its management.This should be administered to all employees at all levels to make a good assessment. If 50 percent or more of respondents say they do not know what is expected of them, management skills throughout the firm are incritical need of development. (The following is based on the 12 questions from First, Break All the RulesbyMarcus Buckingham & Curt Coffman.) (1 = Do not agree, 5 = Completely agree) 1. Expectations—I know what is expected of me. 1 234 5 2. Tools—I have the resources to do my work. 1 234 5 3. Unique Abilities—I have opportunities to use mymost 1 234 5 signifIcant abilities to produce great results. 4. Recognition—I receive praise or recognition on aweekly basis. 1 2 3 4 5 5. Caring—My supervisor cares about me as a person. 1 234 5 6. Encouragement—My professional development isencour 1 234 5 aged. 7. Opinion—My opinions are heard and considered. 1 234 5 8. Vision & Mission—The firm’s vision and mission make me feel 1 234 5 important. 9. Quality—My co-workers are committed to qualityresults. 1 234 5 10. Growth & Development—I have opportunities to learn & 1 234 5 grow. TOTAL SCORE: Interpret Your Firm’s Score 45-50 Congratulations! You’ve found good managers—hold on to them and continue to develop their skills! 35-44 Identify the pain points and address those through further development. 25-34 Significant change is needed—start by getting commitment at the top and commit yourself to improving management skills throughout the firm. 10-24 Dramatic transformation is required—you likely have a lot of unhappy people in your firm. 12

YOUR FIRM—IDENTIFY DANGERS, OPPORTUNITIES AND STRENGTHS™ EVALUATING & DOCUMENTING YOUR FIRM’SDANGERS, OPPORTUNITIES & STRENGTHS™* (D.O.S) The important first step Factor Question)—“If we Complete the following in evaluation is to take an honest look at your meet again three years from forms to indicate your firm’s current practices related to developing managers.Every today, what has to happen Dangers, Opportunities organization has dangers, opportunities and strengths. personally and professionally and Strengths related to Since all progress starts with the truth, it is critical to for you to be satisfied with the developing managers. After be brutally honest about where the firm is today and progress?” A good answer you list them, cite the reasons where it wants to be in the future. Consider the R-Factor requires serious thought, for each. As the final step, Question (or Relationship honesty and a clearly determine the top three for articulated statement. The your firm from each category. following D.O.S. exercisewill This will require serious help you devise a forward- thought, communication and thinking strategy to develop consensus building. managers that ensures your satisfaction with its progress. Dangers Dangers Reason Top 3 Dangers 1. 1. 1. 2. 2. 2. 3. 3. 3. 4. 4. 5. 5. 6. 6. 7. 7. 8. 8. 9. 9. 10. 10. Common Dangers • Little or no “buy-in” at the partner level. • High attrition rate because of little or no development opportunities and people leaving bad managers. • Soft skills take a backseat to technical skills and CPE. • No investment of time and money for management skills training 13

Opportunities Reason Top 3 Opportunities 1. 1. Opportunities 2. 2. 1. 3. 3. 2. 4. 3. 5. 4. 6. 5. 7. 6. 8. 7. 9. 8. 10. 9. 10. Common Opportunities • Increased efficiency. • Better client service. Top 3 Strengths • Staff retention. 1. 2. Strengths Reason 3. 1. Strengths 2. 1. 3. 2. 4. 3. 5. 4. 6. 5. 7. 6. 8. 7. 9. 8. 10. 9. 10. Common Strengths • Partners and staff value good managers. • The firm has a dedicated training program for developing managers. • Managers are evaluated based on management of people in addition to technical capabilities. • The firm is a place where good managers want to work. 14

FACE THE CHALLENGES “COURAGE IS RESISTANCE TO FEAR, MASTERY OF FEAR—NOT ABSENCE OF FEAR.” —MARK TWAIN 15

CHALLENGES FACE THE CHALLENGES Don’t Allow Fear to Foreclose the Future No matter where your firm is today, it can face the challenge of developing managers Albert Einstein famously remarked that by devising a plan basedupon the outcomes insanity is, “Doing the same thing over and from assessments outlined in the previous over again and expecting different results.” section.Let’s take a look at some strategies Fear can keep your firm repeating the same to face and conquer the most common mistakes. Why not invest the time and effort challenges. necessary to allow the latent potential in your ranks to excel, thereby prospering the firm Make Generational Differences a now? Strength Provide Authority Along With Generational differences are not new, and Responsibility while the problems that result may be easy to identify—solutionsrequire team-building When a staff member is promoted to middle and effort. A great place to begin is with management, he or she rightly believes a “meeting of the minds.” Assign a task the increased responsibilitiesare a reward. force comprised of members from several If he or she lacks the authority to make generations as well as a facilitator. (Choose decisions, however, that person will invariably the facilitator with caution—he or she must be frustrated.In order to keep this from be able to movethe conversation along and happening, owners must: deter arguments, blame and name-calling.) The task force’s assignment is to devise • Identify and communicate their strategies for the firm to take advantage of its expectations to each manager generational diversity. Charge all members to listen to one anotherwith an open mind. • Hold regular meetings with each manager Focus On More Than Chargeable • Allow each manager to make decisions— Hours & CPE even if they are not ones that the owner would have made A firm prepared for its future should focus on Consider the words of English historian James all of these measurements: A. Froude, “Experience teaches slowly—and at the cost of mistakes.” • Financial • Learning and Growth Make the Necessary Investment • Client Growth and Relationships • Process Improvement In order to get a return on any investment, you must first make an investment! In order Some may recognize this as the balanced to protect your firm’smiddle, you must invest scorecard approach. Firms committed to in training and education. A firm’s managers measuring results in all ofthese areas will can become loyal and productive stars. The also succeed in achieving results in all of training and education they require includes them. (The Boomer Advantage Guide to several components essential to long-term PerformanceManagementexplores this change. We will consider these in the next concept in greater detail.) section. 16

TRAINING AND LEARNING:AN ESSENTIAL INVESTMENT “LEADERSHIP AND LEARNING ARE INDISPENSABLE TO EACH OTHER.” —JOHN F. KENNEDY 17

TRAINING AND LEARNING 01 Industry-Specific Curriculum 02 Peer Interaction TRAINING AND LEARNING: Trainingand Learning 03 An Essential Investment Components Firm Special Project 04 Ongoing Coaching 05 Supervisor/Owner Communication Industry-Specific Curriculum The first step to implementing a quality training and learning program is to develop an industry-specific curriculum, which must advance the “soft skills” that many personnel lack. The most effective ways to outlineyour curriculum are to survey the firm’s managers and examine past performance evaluations to see patterns that indicate neglected areas. The curriculum should be developed as an interactive format with worksheets and discussion times that addvalue for participants. Instruction is most effective when participants hear it, document it and then share itamong themselves. An instruction model that fosters all of these will make the learning experience more exciting and valuable. Suggested Curriculum Topics • Discovering Personal Strengths—Align one’s unique skills with the firm’s needs. • Creating and Supporting Firm Culture—Foster a culture that facilitates not only improvement but also the potential for exponential growth. • Client Analysis and Understanding—Identify and keep those clients who will stay with the firm for a lifetime. • Team Building—Knowing how to identify, attract and keep the ‘best of the best’ is imperative in today’s market. • Managing Performance—Evaluate management styles and identify ways to improve performance. • Conflict Management—Consider strategies to manage conflict to the firm’s advantage. • Communicating with Management—What are a supervisor’s expectations, and how can individuals meet them? • Delegation Strategies—Know when to delegate—and to whom. • Unique Processes—Identify the firm’s unique processes and package them. • Meeting/Time Management—Ensure meeting hours are productive. 18

Identify those topics that are most relevant for your firm. Choose from those listed on theprevious page or list others that may be unique to your firm. Peer Interaction: Firm managers need opportunities to interact with peers in the same way that ownersinteract with each other. These relationships facilitate a feeling of camaraderie and loyalty. Participants should be allowed to share experiences with each other during every phase of training. Relationships among peers areamong the most compelling reasons an individual will stay at a firm. Encouraging peer interaction when trainingmanagers simply makes sense. Note some ways your firm can encourage peer interaction. Firm Special Project: When learners discover new skills through the curriculum and are offered opportunities to interact with peers, their chances of success increase. Participants should apply learned skills to a real life project. Allowing managers in training to select a special project for which they are responsible is a potent way to increase their knowledge, sense of ownership and accountability. Each participant should consult with his or her supervisor or owner to select a project that will not only be challenging, but also offersubstantial value to the firm. What are some potential projects that mangers in training can conduct for your firm? 19

Ongoing Coaching: If learning happened only in a classroom, the process would begin and end rightthere! But we all know that learning also happens in the moment during “real life” situations. When thosemoments arise, the learner benefits from a qualified instructor who is available for consultation. This individualshould not be a supervisor or owner, but rather a professional coach who is familiar with the learner and canoffer expert advice. Choose a coach carefully with each individual manager in mind. The potential for open andhonest communication without fear of repercussion is essential. Coaching helps a manager face individual challenges while staying on target with goals. Who are some individuals in your firm who would make great coaches? Supervisor/Manager Communication: The person who determines if training and education areworking—or not—is the manager’s supervisor. Therefore, implementing a process for linking feedback betweenmanager and supervisor should not be overlooked. Accountability as well as a good communication tool—eitheronline or paper—should be integrated into the program for each participant. What are some tools the firm has in place that can facilitate communication between a manager and his or her supervisor? Building a program that integrates the indicated training components or finding an outside program is essentialto retaining your firm’s middle management. 20

CONCLUSION Understanding the challenge is the beginning of success. Managing today’s workforce offers new challenges, but also many potent possibilities. Rise up to meet the former, and your firm will reap the benefits of the latter.Begin by assessing the current state of your firm’s management, and don’t neglect to conduct a thoroughD.O.S.* analysis. Once complete, you will see clearly those areas in which the firm’s management has potentialto make significant progress. And with the essential training components intact, your firm will have all it needs to be a workplace where great managers want to stay—and great employees want to join. 21

APPENDIX—TOOLS “EXPERIENCE TEACHES SLOWLY—AND AT THE COST OF MISTAKES.” —JAMES A. FROUDE 22

APPENDIX A DEVELOP APLAN FORDEVELOPINGMANAGERS. Strategic Objective Measurement 1. To retain and attract quality people at •Reduce turnover at the senior andman themanagement level. agement levels. •Increase realization rate at the junior staf flevel. 2. To provide high quality and efficient ser •Reduce turn around time on work. vice toclients. •Increase the number of referrals from quali tyclients 3. To provide a pool of future leaders •Increase knowledge base of FTEs. throughgrowth opportunities for firm per •Increase overall job satisfaction (based sonnel. onsurvey results). •Reduce turnover at the senior andman agement levels. 4. To better utilize firm resources. •Improve leverage of partners and manag ers. •Increase realization rate at the junior staf flevel. 5. To develop and maintain a consistent •Increase in rate per chargeable hour. andsustainable culture. •Increase in revenue per FTE. •Decrease in turnover rate at all levels of the firm. 23

DEVELOPING MANAGERS PLAN JONES & Company LLP Strategy/Initiative Due date Assigned to 1.1 Develop a program to educate managers on both technical and March 30, 20XX Training Director/ management skills. May 15, 20XX Supervising May 20, 20X Partners 1.2 Document criteria for identifying and selecting appropriate candidates within the firm. May 31, 20X Supervising Partner Ongoing and Manager 1.3 Notify the appropriate candidates of their selection. 1.4 Develop and communicate expectations for a manager in the program. 1.5 Track the progress of managers in the program to insureaccountability. 2.1 Identify areas for improvement in client service. July 17, 20XX Supervising Partner 2.2 Communicate and agree upon expectations for improvement. July 31, 20XX and Manager 2.3 Apply newly identified skills. 2.4 Track the progress of improvement in client service. Ongoing Ongoing 3.1 Develop learning ladders at every level of the firm. March 30, 20XX Training Director 3.2 Develop a mentor/coaching program. March 30, 20XX Director of HR 3.3 Set expectations through the performance evaluation system. May 15, 20XX Supervising Partner 3.4 Solicit feedback through job satisfaction surveys. 3.5 Adapt and improve programs based on feedback. Ongoing Director of HR/ Ongoing Manager 4.1 Assess individual unique abilities and identify highest value tasks in Training/HR/ current position. Supervising Partner 4.2 Identify areas for improvement and/or delegation. Ongoing Supervising Partner 4.3 Use information gathered to improve individual learning ladder Ongoing and Manager Training/HR/ and mentor program. Supervising Partner 4.4 Track progress of improvement in both managers and their junior Ongoing Supervising Partner staff. Ongoing and Manager 5.1 Conduct “Quality of Management Scorecard” with all members of January 30, Manager the firm. 20XX Monthly 5.2 Conduct monthly staff meetings with junior staff to communicateexpectations and ensure a strong culture.5 Ongoin 5.3 Develop strategies for improvement based on results of scorecard Monthly and feedback from staff. 5.4 Identify monthly opportunities to award at least one staff member for a job well done. (Public praise and personal note/gift). 24

APPENDIX B MY 90-DAY GAME PLAN Name..................................... For Period Ending.................. Strategic Objective Specific Steps Due Date Assigned To 1. 2. 3. 4. 5. 6. 7. 25

APPENDIX C THE ACCOUNTABILITY REVIEW™* Name..................................... For Period Ending.................. ...a positive look at progress! Accomplishment Status Further Progress Specific Steps 1. Required • Completeq • In progressq • No longer important 2. • Completeq • In progressq • No longer important 3. • Completeq • In progressq • No longer important 4. • Completeq • In progressq • No longer important 5. • Completeq • In progressq • No longer important 6. • Completeq • In progressq • No longer important 7. • Completeq • In progressq • No longer important 26

THE AUTHORS Sandra L. Wiley, Sandra Wiley, President of Boomer Consulting, Inc., is a leader in the President accounting profession with a passion for helping firms grow, adapt and thrive. She is regularly recognized by Accounting Today as one of the 100 Most Influential People in Accounting as a result of her expertise in leadership, management, collaboration, culture building, talent and training. Sandra developed the P3 Leadership Academy and hosts regional training sessions throughout the country. She is also a founding member of The CPA Consultant’s Alliance and a certified KolbeTM trainer, advising firms on building balanced teams, managing employee conflict and hiring staff. Sandra’s role at Boomer Consulting, Inc. includes serving as co-director of the P3 Leadership Academy as well as the Boomer Managing Partner Circle , the Boomer Talent Circle and the Boomer NextGen Leader Circle . Her years of experience and influence as a management and strategic planning consultant make her a sought-after resource among the best and brightest firms in the country. Sandra is regularly invited to speak at national conferences where she empowers audiences with new ideas and a sense of humor. She is a popular author, bringing penetrating conversations to many online and print publications including Accounting Today, Accounting Web, ADP Thrive, the Journal of Accountancy’s Career Insider, and Intuit’s Firm of the Future. Jim Boomer, MBA, Jim Boomer, CEO of Boomer Consulting, Inc., is an expert on managing CEO technology within an accounting firm. He serves as the director of the Boomer Technology Circles, The Advisor Circle and the CIO Circle. He also acts as a strategic planning and technology consultant and firm adviser to CPA firms across the country. Accounting Today called him a “thought leader who can help accountants create next-generation firms.” Jim is a prolific writer with a monthly column in The CPA Practice Advisor and has been published in a number of industry publications including Accounting Today, Accounting Web, the International Group of Accounting Firms and several state society publications. Prior to joining Boomer, Jim worked for BearingPoint and Arthur Andersen Business Consulting in Phoenix, AZ and San Francisco, CA. Throughout his career, Jim’s projects have focused on IT strategy and implementation, including knowledge management, document management, workplace collaboration and corporate portals projects. He has experience with several e-Business and Business Intelligence technologies, and his previous client list includes several Fortune 500 companies. 27

This publication is meant to strengthenyour common sense, not to substitute for it.It is also not a substitute for the advice ofyour advisors, personal and professional. If you would like further information about The Performance3™ Management Program or other Boomer Consulting, Inc. services andproducts. Contact  785.537.2358 888.266.6375  [email protected]  610 Humboldt Street Manhattan, KS 66502–6035 TM and © 2007 Boomer Consulting, Inc. All rightsreserved. No part of this publication may be repro- duced in any form, or by any means whatsoever,without the written permission from the publisher,except in the case of brief quotations embodied incritical articles and reviews.