innovation through wellness: you can’t grow without a “well” firm
“when we take good care of our people and ourselves, we can drive success at all levels.”
by adam herman
wipfli llp
management
the right kind of lazy: innovative approaches to streamlining workflows | accounting arc
arc hosts discuss redefining efficiency in the accounting profession and when it pays to ‘slack off.’
accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation
in a recent episode of the popular accounting arc podcast, hosts liz mason, cpa, and donny shimamoto, cpa.citp, cgma; and byron patrick, cpa.citp, cgma; discussed an unconventional yet powerful concept: the right kind of lazy. this idea, which involves strategically optimizing workflows to eliminate non-value-adding tasks, offers a fresh perspective on efficiency and productivity in the accounting profession.
mason, founder and ceo of high rock accounting, shared an anecdote from her early career at grant thornton. faced with the monotonous task of processing paper tax returns, mason decided to automate the process. she spent over 100 hours developing a script that streamlined data entry and document generation. although initially time-consuming, the solution saved significant time when implemented across multiple offices. “it was fun and a great learning experience,” mason remarks. “at scale, it saved a ton of time for people.”
you have to start somewhere
wishful thinking won’t move you forward.
by ed mendlowitz
the 30:30 training method
question: thanks for the training memo. although i requested your memo because i know i need help with improving efficiency and the like with my practice, many of your thoughts and ideas i have already thought of but simply did not implement them.
more: two options for collecting past due fees | you can’t win with lowballing | yes, you have to share work papers | should you merge? here’s how to chart your path | hold staff accountable if you want them to listen to you | how to raise your rates | higher fees to start: ten ways to make your tax season better | three ways to start an accounting practice | free consultation? not always | referral fee? forget it
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response: i think you hit part of the nail on the head in what you wrote – you’ve had many of the ideas and “simply did not implement them.”
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olympics of outsourcing and offshoring for accountants
the only difference is it’s not a once in four years event.
by hitendra patil
the olympic games are the epitome of human achievement. the best athletes in the world come together to compete for the ultimate coveted glory. the accounting profession is no different in its competitive spirit and quest for excellence.
take action now: take this 2-minute quick quiz to evaluate if your firm needs outsourcing.
you will instantly get your score and what that score means.
outsourcing and offshoring have emerged as a necessary remedy to overcome the challenges of the accounting talent shortage. accounting firms leveraging outsourcing and offshoring are like the athletes excelling at the olympics. like the olympics, accounting firms need rigorous preparation, strategic planning, and meticulous execution to succeed with outsourcing and offshoring. let us dive into the comparison between the olympics and outsourcing/offshoring strategies. let us see how accounting firms can assure gold-medalist performance in the olympics of outsourcing and offshoring.
two options for collecting past due fees
you can do more work, but under certain conditions.
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: client didn’t pay his bills to me, doesn’t return my phone calls and his secretary keeps sending me the tax notices he gets with notes of “when are you going to take care of them?” i tell her that i need the client to call me before i can do any more work and she ignores this and keeps sending me the notices and other tax correspondence he gets.
more: you can’t win with lowballing | nine reasons not to specialize | hiring experience vs. training inexperience | a friendly chat or a billable discussion? | when selling a firm to staffers is tricky | courting a client? don’t give too much away for free | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
exclusively for pro members. log in here or 2022世界杯足球排名 today.
i don’t want to tell him i am dropping him because then i don’t think i’ll ever be paid. every year he goes on extension and he usually pays me half of what he owes when he sends me his tax info, but the past due amount has really accumulated to about three years’ fees. what should i do about getting paid?
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vimal bava: when working smarter, not harder, is the only option
humans are the most advanced supercomputers, but there’s no user manual.
this is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members.
subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).
the disruptors
with liz farr
like many who start out in public accounting, vimal bava didn’t initially question the status quo of our high-stress profession where long hours and little time for self-care are the norm. part of that stress was a partner who would “chew us out” for mistakes on returns.
more podcasts and videos: dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |
but when vimal’s doctor told him he needed to find ways to reduce his stress, he started his own firm. another wake-up call for vimal came in 2017 when one of his accountant friends suddenly passed away.
nine reasons not to specialize
think about what you really want.
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: can you recommend a specialty i can get involved in to generate more revenue for my practice?
more: when board service gets tricky | yes, you have to share work papers | should you merge? here’s how to chart your path | hold staff accountable if you want them to listen to you | how to raise your rates | higher fees to start: ten ways to make your tax season better | three ways to start an accounting practice | free consultation? not always | referral fee? forget it | how much is your tax practice worth?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
response: my discussion with the cpa indicated that his practice consisted of a large individual tax return practice and many monthly business clients. he thought financial planning or business valuations would be a way to expand his services and make more money. it did not seem he had an intellectual interest in these areas.
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how firms are compensating their coos
real-life examples. about 29% are owners.
by kristen rampe
rosenberg associates
more and more firms are exploring the benefits of adding a chief operating officer (coo) to their leadership ranks. the coo role often encompasses strategic cpa firm leadership, holding partners accountable, making decisions in line with the firm’s strategy and overseeing all administrative functions.
more: help! a partner wants to retire really early
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this position can significantly reduce the time client service partners spend attending to these duties. and often the coo can do them better, as they aren’t distracted by the next fire drill from a high-profile accounting client. their only client is the firm.
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