Practice Management: Models & networks

Online Course on Practice models and networks

Is your accountancy practice firm is built on a solid foundation of:
• good decision-making;
• ethical and efficient processes;
• a balanced team of committed leaders?
If so it can be confident about its long-term future.

Practice Models and Networks examines the various models available such as sole practitioner, partnership, and corporate structures; the major approaches to profit-sharing and to decision-making within a firm; and the use of networks to multiply the power of your own advice.

This course is part of a series of eight courses based on the IFAC (International Federation of Accountants) Guide to Practice Management for Small and Medium Sized Practices and has been produced with the permission of IFAC.

Work through the knowledge and application modules to understand the theory and exchange your ideas with your peers. Then complete the final Putting it into Practice module to create an action plan for your practice.

Practice Models and Networks enables the learner to

• Select the right practice model for your firm
• Consider the decision making process of your firm
• Understand the roles and agreements of partners
• Utilise their network to benefit your firm

Learning outcomes of Practice Models and Networks

What practice model is right for you?
• Sole practitioner
• Cost-sharing arrangement
• Partnership of equals
• Unequal partnership
• The consolidator model
• Multidisciplinary firms

Practice management
• Family members working in the firm
• Decision-making approaches
• Issues to consider when structuring or
• restructuring a firm
• Partnership agreements
• Remuneration and profit-sharing models

Using networks to add value
• Advantages and disadvantages of network
• alliances
• Referral network
• Professional network
• Management support network

Target audience for Practice Management: Practice Models and Networks

This course is suitable for all accounting professionals looking to start or improve their practice.