steven sacks, author at 卡塔尔世界杯常规比赛时间

cpa profession facing more battles across the country

disputes revolve around required hours, definitions and “substantial equivalency.”

by steven sacks
the new fundamentals: thriving in disruption

of all the states whose legislature has run amok this past year, the florida legislature passed house bill 813 – certified public accountants – by both the florida house and senate. this bill creates a new “retired status” license category for cpas. the legislation will now be sent to gov. ron desantis for consideration for being signed into law.

more: 150 hours revisted: the profession needs a makeover | how do you value your most important asset? | which is better: a year of education or a year of experience? | sell service, not hours | private equity vs. the cpa firm partnership | cas or caas? getting clarity | fine-tuning the subscription fee model | when cyber-crime hits close to home | how to build a winning proposal | six ways to fix your firm agreement
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according to the florida institute of cpas ceo, the thinking behind this is to “… uphold retired cpas’ profound sense of pride and accomplishment and preserve their professional identity.” however, they cannot reflect to the public that they have an active license because many believe the public thinks that if you have “cpa” after your name, you have an active license. if an individual wants to return to public practice, they can complete 80 hours of cpe every two years as part of renewing their license.

pro member exclusive

why would anyone become a cpa?

the competition between cpas and non-cpas is about to get more aggressive.

with steven sacks
the new fundamentals: thriving in disruption

the cpa profession, or just plain old accounting profession, is currently facing challenges of getting more people to become cpas or even having young people think about accounting as a career.

more steve sacks: 150 hours revisted: the profession needs a makeover | how do you value your most important asset? | which is better: a year of education or a year of experience? | sell service, not hours | private equity vs. the cpa firm partnership | cas or caas? getting clarity | fine-tuning the subscription fee model | when cyber-crime hits close to home | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

we hear about the slow drip of the professional pipeline; all sorts of remedies or suggestions have been offered. is it because the profession still suffers an identity crisis exacerbated by an additional (if questionable) fifth year? there are those already in the profession who are bemoaning low pay, long hours, and doubts about whether gaining a partnership is achievable (or worth it).

oh, yes, there is the extra tuition load that must be taken on. so, higher debt, stagnant pay, long hours, and increased competition (think mbas, cfas) is a perfect storm.

advisory & consulting

would you buy your own services?

don’t expect potential clients to if you don’t know what sets you apart.

by steven e. sacks, cpa, cgma, abc

do you ever wonder why after spending many hours on drafting, editing, proofing, and polishing—and proofing and polishing just once more—your engagement proposal efforts did not result in winning the engagement? and if this happens on a semi-regular basis, the frustration is never easier to take.

more steve sacks: how do you value your most important asset? | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

you may have the requisite knowledge, experience, and perhaps even a broad view based on a diverse set of clients. however, you may have become complacent by maintaining a “cookie-cutter” approach to developing your proposals. like the old joke defining a consultant: “a person who takes off your watch, tells you the time, and gives the watch back to you,” implies an approach that you believe is best for your potential client, yet reflects no understanding of what the client actually needs.

150 hours revisited: the profession needs a facelift

what if pipeline issues aren’t related to education or experience but rather just image?

with steven sacks
the new fundamentals: thriving in disruption

while firms and accountants continue to lament staffing challenges and research continues into finding workable solutions for firms and finance teams of all sizes, one idea that is beginning to gain more traction has less to do with education versus experience and more to do with marketing.

david bergstein, cpa, citp, cgma, discussed the future of the profession, specifically the ongoing discourse surrounding the perceived necessity of a fifth year in accounting education.

more steve sacks: how do you value your most important asset? | which is better: a year of education or a year of experience? | sell service, not hours | private equity vs. the cpa firm partnership | cas or caas? getting clarity | fine-tuning the subscription fee model | when cyber-crime hits close to home | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

bergstein challenged the conventional wisdom surrounding the 150-hour requirement for cpa eligibility, suggesting that the industry’s primary challenge lay not in the academic threshold but in the misperception of accounting as a lackluster career. “we’re beating a horse that’s almost dead,” he remarked, questioning the emphasis on extending education rather than redefining the profession’s image.

which is better: a year of education or a year of experience?

the 150-hour rule is facing harsh criticism in the accounting staffing crisis.

with steven sacks
the new fundamentals: thriving in disruption

there is a movement afoot by the state cpa societies to reconsider whether the fifth year of an accounting program that offers the student a master’s in accounting is worth the cost, not to mention the increased complexity of business requiring as much exposure and experience as necessary to groom the younger professionals.

more steve sacks: sell service, not hours | fine-tuning the subscription fee model | when cyber-crime hits close to home | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

however, there is a shortage of 300,000 cpa candidates entering the profession’s pipeline. that’s why several states are seeking to eliminate, modify or enhance the educational/experiential model.

steve sacks, cpa, cgma, abc, discussed the dilemma of education versus experience with accounting expert david bergstein, cpa, the chief innovation officer for bergstein cpa and teaching adjunct for valencia college.

leadership

how do you value your most important asset?

yes, your employees.

by steven e. sacks
the new fundamentals

skills, abilities and experience are the elements recruiters use to assess candidates who come before them. but what is interesting is despite a skill set playing a dominant role in the value that an employee brings to the organization, it may not be recognized as such. this is not a new concept. i came across research conducted in 1918 by harvard university, the carnegie foundation and stanford research center.

more steve sacks: how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the study discovered that almost 95% of job success comes from having well-developed soft skills (better referred to as life skills ) and people skills, while only 5% of job success comes from technical skills and knowledge — hard skills.

marketing & sales

how to build a winning proposal

autobiography? no. economic benefits? yes, please.

by steven e. sacks
the new fundamentals

do you ever wonder why after spending many hours on drafting, editing, proofing and polishing – and proofing and polishing just once more – your engagement proposal efforts did not result in winning the engagement? and if this happens on a semi-regular basis, the frustration is never easier to take.

more: the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

you may have the requisite knowledge and experience and perhaps even a broad view based on a diverse set of clients. however, you may have become complacent by maintaining a “cookie-cutter” approach to developing your proposals. like the old joke defining a consultant: “a person who takes off your watch, tells you the time and gives the watch back to you,” implies an approach that you believe is best for your potential client, yet reflects no understanding of what the client actually needs.
read more →

management

six ways to fix your firm agreement

schedule an annual review.

by steven e. sacks
the new fundamentals

earlier i discussed that engaging in what is considered conflict avoidance can undo the progress a firm has made. this can be because of complacency, frustration, intimidation or a host of other issues.

more: the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

some things are intuitively understood, but it’s those occasional sticky matters that tend to make situations unravel. establishing and keeping agreements helps to avoid confrontation: the one typically arising from someone promising to do something in a timely and complete manner and within a specified budget. even if the firm’s board casually agreed on a matter, something can go awry and threaten the direction of the firm.
read more →

innovation & change management

the great resignation or a reshuffling?

how many in-person days make sense for your firm… and who decides?

by steven e. sacks

the concept of “quiet quitting” is now mainstream thought. summer 2022 is over, and with it, for many companies and their workers, their remote work arrangements.

more: four accountability steps for firm success | how to build a standout team | five keys to becoming a high-performing firm | assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success
exclusively for pro members. log in here or 2022世界杯足球排名 today.

many recognizable companies have sought to get back to some normality. some want workers to return to the office full-time, some have asked for a two- to three-day in-office arrangement, and some have viewed remote work as successful and see no reason to change anything for the foreseeable future.

workers will not easily accept these changes.

innovation & change management

quiet quitting: are employers culturally aware?

a fad or a movement?

david bergstein and steven sacks chat about quiet quitting and how it may impact the accounting profession.

by steven sacks
the new fundamentals: practical guidance for today’s accounting firms

employees are not keen about returning to their offices after an almost two-and-a-half year (for some) hiatus from the hassle of commuting and balancing child care and other personal responsibilities. what are company leaders to do?
employees want to strike a balance between their work life and their family life (or life outside the office). the common employee refrain has been, “i want to find my life’s passion, and i need work flexibility to accomplish this.”

hmm.

more: don’t overlook office relationships | how to deliver authentic value | making the jump from small to mid-sized firm | what sets your firm apart … if anything? | why deadlines get missed | too busy? you may need to reprioritize | is it time to outsource? | five reasons you’re not swot-ready | who needs another meeting? | 4 questions for cpa firm boards
exclusively for pro members. log in here or 2022世界杯足球排名 today.

what about creating value and finding purpose and meaning from work? more to the point: can meaning and purpose be derived from a job?

advisory & consulting

fine-tuning the subscription fee model

how cpa jamie lopiccolo’s subscription pricing models manage client expectations and the firm’s cash flow.

^ click to play video | > play the podcast and follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.

with steven sacks
the new fundamentals: thriving in disruption

james (jamie) n. lopiccolo, cpa, cgma — lopiccolo

jamie lopiccolo, the managing member of a small midwest firm, has been employing a subscription-based model for more than four years to invoice clients for services rendered. in addition to positioning the cpa as the client’s partner for success, it also encourages those who employ the system to provide maximum value in each client interaction, rather than focusing on getting as much money or billable hours as possible. catch another conversation with lopiccolo here: sell service, not hours.

more: blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go | accounting nerds, unlock your super powers | private equity vs. the cpa firm partnership the fintech flood: accounting will never be the same | think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson | turning client service into new revenue

exclusively for pro members. log in here or 2022世界杯足球排名 today.

the approach is to both manage expectations by the client and ensure a normalized cash flow for the firm. additional benefits include a more strategic approach to dealing with new clients because they are getting the full picture of their business’s needs.

more takeaways:

featured

listen to learn

effective networking is an art.

by steven e. sacks
the new fundamentals: thriving in disruption

there is no one right way to effectively network. you can join boards, attend conferences and sign onto various electronic forums, among other ways. no matter how you decide to get yourself out there, the critical factor is the approach you take. asking others, “how may i help you?” is the positive, proactive way to establish relationships.

more: build the framework to a solution with five answers | try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

you as the networker are seeking to build a relationship. if the other person or group benefits from your effort, think of it as an investment for the future. if you are looking for an immediate quid pro quo, it will become transparent to the other party. when you offer assistance, be authentic and sincere in your words and actions. follow through on your promises.
read more →

featured

build the framework to a solution with five answers

avoid last-minute decision-making.

by steven e. sacks
the new fundamentals

cpa firms often believe the most crucial part of negotiations to close a deal happens at the final stage of talks. but in order to have a satisfactory conclusion, you must set the tone at the beginning stage with an honest and forthcoming discussion based on mutual benefit – with an underpinning of respect and trust.

more: try for success, not a win
exclusively for pro members. log in here or 2022世界杯足球排名 today.

for young professionals, it is never too early to evaluate your negotiation aptitude. think about this as a process with key milestones. this gives you the chance to make modifications along the way and to avoid the last-minute pressures of bargaining that can remove the advantages you have created. adhering to a game plan will reduce the chances of objections from the other party, or even worse, the backing out of an arrangement that you considered to be a “lock.” this can be applied to discussions involving a promotion or a pay increase.
read more →

here’s what you’re looking for: steven sacks

david bergstein and steven sacks chat about quiet quitting and how it may impact the accounting profession.

^ click to play video | > play the podcast and follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.