Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/83146
PRODUCTIVITY IN PRACTICE BY ISAAC M. O'BANNON, EDITOR From Audits to Grilled Chicken: What Sets Joel Ungar Apart Tere are many stereotypes when it comes to accounting firms and professionals. For starters, many people seem to think that small firms prety much focus on individual and small business tax compliance, write-up and business planning. Test this on yourself. How big do you think a firm would be staff-wise, if you were told that it was in the top 15 in the United States when per- forming audits of publicly traded corporations? As for the stereotype of those working at those Joel Ungar, CPA, Principal and Founder Firm: Silberstein Ungar, PLLC LOCATION: Bingham Farms, MI WEBSITE: www.sucpas.com PRACTICE SPECIALTIES: Auditing of SEC regulated corporations, Private company audits, Franchisors LAST BOOK READ: The Savannah Project, by Chuck Barrett 500 clients, of course. Instead, the firm has simply discovered and filled a much needed niche in serving small, mostly development-stage entities that have gone public to seek additional equity. Tey aren't traded on the exchanges, but they do have SEC reporting obligations. "Tey oſten have more expenses than revenue, and many have very litle, if any, revenue at all," he points out. "Tey are at a point where they have an idea that they want to develop for market, but still Firm partners Joel Ungar and Ron Silberstein in Jerusalem, 2009. Tis focus on audits was intentional. Aſter receiving a degree in accounting from the University of Michigan, Joel worked for the Detroit office of Deloite Haskins + Sells, then served as controller for the College of Creative Studies for a couple of years. He would end up back in both public and com- firms or in the profession at large, deserved or not, it is oſten one of a person who is numbers-focused and reserved, with a conservative personality that shows aversion to risk. Te stereotype of those who specialize in audits is probably even less vibrant. When it comes to the services professional accountants provide their clients, these may well be enviable traits, but when labeled as such indi- vidually and personally, well, it can sound boring. Joel Ungar isn't necessarily on a mission to change those perceptions, but he and his firm certainly don't fit either mold. Many of his clients and friends say his casual and irreverent humor aren't what they expected, and that, along with his open communication style, help him stand out compared to the stereotype. AN APPETITE FOR AUDITS As a CPA with 28 years' experience in the profession, he is founder and co-principal of Silberstein Ungar, PLLC (www.sucpas.com), an accounting firm in the Detroit suburb of Bingham Farms, Michigan. With a staff of eight, the firm has been listed in the top 15 by Audit Analytics, in regard to the total number of audits of public companies they perform annually. Tey aren't competing with the Big 4 for Fortune 22 October 2012 t www.CPAPracticeAdvisor.com need additional funding, either through investors or credit. One such former early PRODUCTIVITY SCORE™ 199 stage client was developing a method of cryogenically freezing umbilical cords for blood and stem cell donation purposes. A current client, Robertson Global Health Solutions, is devel- oping a smartphone app that uses GPS and other information to help health professionals perform medical diagnostics on patients. Tis is clearly some cuting edge stuff, but not all of the clients are as technologically focused. But they do have something in common: Te firm does not focus on currently individual and business taxation, but does manage these compli- ance issues for some clients, while referring some to a non-competitive tax-focused practice. "Because of our audit schedule in the early part of the year, any 1040 taxes we do have to be pushed to April, which limits our availability and resources." mercial accounting roles, before he decided to open his own firm in 2003. He was joined for a short time by another partner, and then co-principal Ron Sil- berstein merged his practice into the firm in 2007. Since then, they have grown to a staff of eight, with additional per-diem staff as needed. Tey also are a member of MSI Global, which gives them both legal and accounting correspondent firms throughout the country and internationally. To manage such a high number of audits each year, and with many clients located across the country, Joel and the staff travel frequently and so they rely heavily on technology and mobile connectivity. Tey scored a 199 on the Productivity Survey (www.CPAPracticeAdvisor.com/produc- tivity), a free online tool that helps firms measure how their workflow practices and technologies compare to similar practices. "When running a firm, you don't have to be an expert in technology, you just have to be smart enough to figure out what's working and what isn't," he said. Joel notes that having spent several years at large WHEN RUNNING A FIRM, YOU DON'T HAVE TO BE AN EXPERT IN TECHNOLOGY, YOU JUST HAVE TO BE SMART ENOUGH TO FIGURE OUT WHAT'S WORKING AND WHAT ISN'T and small firms, and on the commercial side exposed him to many specialties, and that he eventually found auditing to be the most interesting personally. Aſter noting that he's been in accounting since before some of his staff members were born, he said he owes his initial interest in accounting advice from his mom. "When I was a kid, my mom said, 'You're good in math, maybe you would like accounting.' I had always had a slight entrepreneurial bent, from delivering newspapers, selling greeting cards and working retail, so I took a couple of bookkeeping to