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gary cokins: the truth about activity-based costing

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how to implement progressive management accounting techniques.

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with steven sacks
the new fundamentals: thriving in disruption

management finance expert gary cokins says there’s nothing wrong with activity-based costing. except that you’re probably doing it all wrong.

more gary cokins: the myths of performance management

more steven sacks: effective networking is an art | business development activities shouldn’t be a chore | cpa’s best role: leveraging knowledge, not just process | avoid last-minute deal making | five common negotiating mistakes | the myths of performance management | business is about relationships | reaching for authenticity in client service |

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the problem is, cokins says, it’s convenient for the accountants to allocate the overhead based on allocation factors, like labor hours, number of units produced in a manufacturer, headcount, number of employees, and square feet, even though none of them reflect the unique consumption relationship between how the outputs products and services consumed.

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when cyber-crime hits close to home

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financial services are a prime target.

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with steven sacks
the new fundamentals: thriving in disruption

with cyber-crime growing by leaps and bounds, accountants are caught in the cross-hairs, cyber-security professional jill cagliostro tells steven sacks for 卡塔尔世界杯常规比赛时间.

more: effective networking is an art | business development activities shouldn’t be a chore | cpa’s best role: leveraging knowledge, not just process | avoid last-minute deal making | five common negotiating mistakes | the myths of performance management | business is about relationships | reaching for authenticity in client service |

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cagliostro, senior product manager with splunk, a data management and security company, says “cybercriminals are getting more advanced. they’re finding new avenues and new ways to get in every single day.”

“and beyond that,” she says, “they’re also communicating with each other. so they’re able to share these new tactics and techniques amongst each other to become more proficient together.”

key takeaways

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james lopiccolo: sell service, not hours

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small firm attacks the big issues with novel strategies.

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with steven sacks
the new fundamentals: thriving in disruption

the accounting profession is “stuck in a rut,” says james n. lopiccolo, founder and managing member of capocore professional advisors, in lake orion, mich.

he says cpas can’t see “the challenges that are coming by from other non-cpa firms.”

more: effective networking is an art | business development activities shouldn’t be a chore | cpa’s best role: leveraging knowledge, not just process | avoid last-minute deal making | five common negotiating mistakes | the myths of performance management | business is about relationships | reaching for authenticity in client service |

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lopiccolo’s answer is offering service agreements, instead of billing by the hour. risky? sometimes. but clients love it.

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in more than 31 years of public accounting, lopiccolo has worked in business advisory, tax, and accounting for a multitude of industries including contracting, manufacturing, medical, professional service companies, and real estate. he serves on the michigan cpa association executive committee and the finance committee, and he is a two-time chair of the aicpa small firm practitioners task force.

11 key takeaways:

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the cpa’s best role: leveraging knowledge, not just process

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david bergstein says you’re wasting your time and your client’s money if you’re not focussing on the future.

with steven sacks
the new fundamentals: thriving in disruption

to be more competitive, cpas need to shift their focus from compliance service to process-oriented, value-added work, veteran cpa david bergstein tells 卡塔尔世界杯常规比赛时间. this means working with clients to understand their business operations, competition, and financial challenges, such as liquidity, solvency, and profitability.

more on value-add: how cas communications are different | how value billing eliminates guesswork | avoid last-minute deal making | how a great managing partner impacts firm growth | tax season client meetings: kill them now | do you give yourself too much credit? | the 17 rules for making partner at a cpa firm | family feud isn’t just a game show

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see more 卡塔尔世界杯常规比赛时间 videos here | see more david bergstein here

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the key takeaways:

  • accountants need to switch their focus to look to the future and real-time accounting, which means that the right way of doing things these days is to take advantage of all technology and automation.
  • it’s a small and mid-size business that doesn’t have a bookkeeper, that doesn’t have an accountant, that doesn’t have a controller, that doesn’t have a cfo that looks to cpas to help them. cpas’ advantage is to use that technology to automate all those processes and then spend time selling value-added services.
  • today, to be successful as an accountant, you must identify what platform or platforms you’re going to use to capture your clients’ data at the source to move it through the system.
  • payroll tax processing services can be expanded by setting up the human resource tools that go with it. beyond processing payroll, cpas can find ways to get lower workman’s compensation; automate the onboarding of employees, and provide various benefit options.
  • as part of the de-emphasis on process, younger staff members don’t want to do vouchering anymore, which will be supplanted anyway by automation. so, it’s great for firms to offer more training opportunities to their younger staff regarding analytical thinking, selling, and how to consult with clients to find out what their needs are.

 

transcript

david bergstein, interviewed by steven sacks
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hunker down: the irs backlog isn’t going away anytime soon

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the bottom line: for every dollar in new funding, the irs could be collecting 10 times that. 

the tax season from hell:
will the new may 17 extension help or hurt accountants?
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by 卡塔尔世界杯常规比赛时间 research

irs commissioner charles rettig says the backlog of millions of returns will remain unresolved for months more.

//www.g005e.com/?p=82486“we would hope to be through this backlog by the summer,” rettig told house ways and means oversight subcommittee chairman bill pascrell, who said 24 million returns are jammed in the irs pileup. rettig countered with 2.4 million, the number of individual returns.

more on a tax season from hell: what tax pros are saying about busy season 2021 | hunting the amended return | the irs studebaker bomb | make your firm faster, smarter, richer … with millennials | tax professionals report tough slogging | 50 ways to make more money in busy season | stop beating up the irs – really | imagine irs ‘concierge’ service. just imagine.

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his testimony came a day after the government announced it would extend the filing deadline from april 15 to may 17, with crucial details still to be determined. the new rules sent tax software companies rushing to push out updates and left accountants and their clients in limbo. and, he said the delay in the tax-filing deadline could postpone the launch of a new monthly child tax credit payment program,

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trullion: new a.i. startup targets rev rec, lease accounting

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founder and ceo isaac heller seeks to be “single source of truth” for lenders.

with rick telberg
for 卡塔尔世界杯常规比赛时间

on the even of trullion breaking out of stealth mode, ceo and co-founder isaac heller tells 卡塔尔世界杯常规比赛时间 in this video interview how the new fintech company can automate the process of lease accounting to establish a cost-effective, functional view of contract data for auditors accounting firms and cfos alike.

more in tech: make tech your ally in protecting clients | satellite internet takes a promising step forward | survey: your top tech problem? | fireeye network audit tool targets solarwinds hackers | deliver internal reports digitally | space factories! darpa launches new program |

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formerly known as smrt, the trullion platform automates unstructured data such as pdfs and translates them into real-time financial reports, including lease accounting and revenue recognition.

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the myths of performance management

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be careful what you measure, says management guru gary cokins

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with steven sacks

cpas and finance leaders must start asking some really painful questions, according to gary cokins, an internationally recognized expert in performance management, in this interview with steven sacks for 卡塔尔世界杯常规比赛时间.

questions like:

• do we know where we make or lose money?
• do our managers understand the strategy? the executives?
• are we measuring the right things?

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blockchain implications for cpas

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futurist jack shaw explains how blockchain is changing the way cpas practice.

with steven sacks
solutions to results llc

the economist magazine describes blockchain as the most important advance in business record keeping since the innovation of double-entry bookkeeping, in florence, italy in over 500 years. but now, blockchain may eventually even replace double-entry bookkeeping.

more 卡塔尔世界杯常规比赛时间 video: blockchain implications for business | the myths of performance management | how covid rewrites the rules for recruiting | the art and science of hiring: three essentials for the covid age | what’s a bot? new tech tools to boost your practice | replay: covid impact on cpa firm m&a | your competition isn’t who you think it is | replay: how to dazzle clients in the covid age |

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six key takeaways

1 –  we will see more business being reflected in blockchain-based transactions.

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how covid rewrites the rules for recruiting

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frank stitely explains how stitely & karstetter cpas competes for top talent.

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with richard rothstein

frank stitely, the managing partner of stitely & karstetter, ceo of clarity practice management and a 卡塔尔世界杯常规比赛时间 expert contributor, explains how stitely & karstetter handles staff recruiting in a competitive environment, in this interview with richard rothstein of rothstein consulting for 卡塔尔世界杯常规比赛时间.

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blockchain implications for business

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there’s hardly a business that will remain unaffected by blockchain technology.


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with steven sacks

in blockchain basics for business, steve sacks interviews jack shaw on the elements of the technology, its early beginnings, the industries impacted, and the practical business applications.

more videos and podcasts: the art and science of hiring: three essentials for the covid age | what’s a bot? new tech tools to boost your practice | your competition isn’t who you think it is | don’t get burned by these ppp pitfalls

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key takeaways:

  • bitcoin is only an application of blockchain which is the platform
  • decentralized nodes eliminate the possibility of hacking
  • blockchain has many business uses in the financial, insurance, media, medical, consumer and supply chain
  • industries impacted by blockchain include energy, entertainment, manufacturing and transportation
  • blockchain stores records such as identities, ownership of assets, business transactions and contractual commitments

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jack shaw is an innovation and change management consultant, who has been voted one of the world’s top 25 speakers and one of the top 5 technology futurists. jack integrates his executive experience in industry, technology, and consulting to speak on innovation, change management, and transformational leadership. and, he has decades of experience designing, developing, and implementing emerging technologies and how these will impact business and society.

jack has advised key decision-makers at such fortune 500 organizations as mercedes benz, bosch, ge, coca-cola, johnson & johnson, ibm, oracle, and sap. jack has delivered over 1,000 keynote presentations and executive forums in 26 countries and every state across the u.s. he is a yale university graduate, and holds a kellogg mba degree specializing in finance and marketing.

jack’s expertise is in the strategic impact of leading-edge technologies, including blockchain technology, 5g, the internet of things and artificial intelligence. he can be reached at https://jackshaw.io

transcript and slide deck (for pro members)

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the art and science of hiring: three essentials for the covid age

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after covid, recruiting may never be the same, according to bill carroll, hoops hr ceo.

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with matt solomon

bill carroll, ceo of hoops hr, reveals the three keys to smart hiring for accounting firms, in this conversation with matt solomon.

“we look at retention in really three key areas,” carroll says. “it’s security for that person. a lot of that has to do with income, but a lot of that has to do with how they’re treated internally as a person. how does the organization engage in conflict? how do they solve a conflict? is there ultimately a resolution? there’s a security aspect to that, and pay is just a portion of that.”

“care is another,” carroll adds. “security plus care. we look at care as benefits packages or access to benefit packages. then there’s retirement and perks, which should really be aligned with your core values.”

the third element is appreciation. “appreciation will ultimately lead to retention. we all know that experiences drive beliefs, beliefs drive behaviors, and behaviors drive results.”

 

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transcript read more →

replay: covid impact on cpa firm m&a

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m&a maven robert fligel says coronavirus is pushing deal-flow and trimming multiples.

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featuring robert fligel
rf resources

covid-19 is putting new pressure on cpa firms to close merger deals, even if it means taking a haircut in the selling price, says robert fligel, the legendary new york-based cpa firm mergers-and-acquisitions dealmaker, in a new 卡塔尔世界杯常规比赛时间 flash briefing.

in this replay of the live web event, a fast-paced 30-minute webinar update, fligel covers:

  • the current state of the m&a market,
  • best practices for sellers, and
  • pitfalls for buyers and sellers

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