tax & accounting profession grows, but wages don’t
tax prep and payroll services are exceptions.
by beth bellor
outlook & analysis
when live events fail
how to do in-person conferences the right way.
by seth fineberg
some of you may know my views on the importance of live events in accounting. but now we’re witnessing a shift in why attendees go or need to go: human support.
more seth fineberg: getting real: accounting tech decisions you need to make today | accounting tech doesn’t have to be daunting | who’s in control? you? or your clients? | time management rule #1 for accountants | plan to go ‘live’ post tax season | why vc is a bigger threat than ai | what does taking control of your firm mean? | accountants need each other more than ever | marchternity: just say ‘no’ | some thoughts on in-person events | so you think you know accountants? | what bogs down accountants
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sure, cpe, networking, and quality content are indeed a thing when it comes to considering the time and expense of attending an in-person event. but accountants these days need more. they need each other more than ever.
why students opt for accounting (or don’t)
they share their ideas for changes.
by 卡塔尔世界杯常规比赛时间 research
are accountants a threatened species?
more in staffing & recruiting: tax and accounting pay advancing at 5.9% pace | which is better: a year of education or a year of experience? | 44 critical criteria for accounting staff performance evaluations | four ways to propel new cpas into growing your firm | mike whitmire: re-think your hiring and training practices | what new leaders want in ownership |
extinction’s still a ways off, but the numbers of cpas are in serious decline. between 2010 and 2021, the number of people taking and passing the cpa licensing exam fell 36 percent, from more than 50,000 to about 32,000.
read more →
be the flywheel to increase revenue
“this will be the largest transfer of wealth the nation has ever seen in such a short period of time.”
by rory henry, cfp®, bfa
rory henry is a director at arrowroot family office and host of the wealth management forward podcast. he can be reached to discuss ways to integrate financial planning into your practice through the cpa partnership program at (310) 566-5865 or at rory@arrowrootfamilyoffice.com.
the financial advice business is undergoing significant change, particularly in the accounting and wealth management sectors. the arrival of private equity firms, combined with the rise of m&a and rapid advancements in technology, has shifted the landscape considerably. while these changes are unsettling to some practitioners, i view them as opportunities.
more: four core principles for elite wealth management | why you need a team of experts | why a virtual family office? why now? | is your client’s umbrella big enough? | your client’s instincts are wrong | preserving wealth is a different mindset | three approaches to investment consulting
in many ways, a cpa is a flywheel at the center of the financial advisory engine. all the other providers and advisors rotate around the cpa, and together they build momentum as the firm expands its offerings and as the advice engine gains speed and confidence.
electronic skin that can sense touch will transform robotics
robots with touch-sensing capabilities will be able to interact more intuitively and safely.
by rick richardson
technology this week
in a significant leap forward for wearable technology, a team of researchers at stanford university has made remarkable progress in developing electronic skin that possesses the ability to sense touch. this innovation has the potential to revolutionize industries ranging from healthcare to robotics, opening up new possibilities for human-machine interaction and sensory augmentation.
more tech this week: chatgpt passes cpa exam on second try | smartwatch saves two lives | first e-road charges electric vehicles as they drive | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
the electronic skin, known as e-skin, mimics the sensory capabilities of human skin by integrating pressure sensors, stretchable circuitry, and a sophisticated neural network. the team accomplished this feat by combining advanced materials, flexible electronics, and machine learning algorithms. the result is a thin, flexible, and highly sensitive e-skin that can accurately perceive and respond to different levels of pressure and touch.
firms rev up expansion plans
mull new software for remote staff, cas and ai.
by 卡塔尔世界杯常规比赛时间 research
a new survey reveals widespread plans for growth, with firms looking for more staff, more services to offer, and more territory to serve over the next 18 months
more: research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai | how tax practitioners became cybersecurity risks | why the u.s. must act now to protect our online privacy | top tax vendors caught red-handed selling private taxpayer data
in a time when qualified professionals are scarce, a staggering 85 percent of firms say they will definitely or probably be hiring more remote staff with flexible work arrangements, according to the poll of 250 firms by the practice management software company canopy.
research: accounting pros cautiously optimistic about generative ai
expert says we must work together to balance the benefits of technology and unintended consequences.
by rick richardson
technology this week
thomson reuters, a global content and technology company, recently released new research on generative ai that gauged the sentiment of professionals across legal, tax, and accounting firms in the united states, the united kingdom, and canada. the research sought to understand better how the technology is perceived and applied within the professional services industry. the report uncovered a mix of optimism and caution in adopting generative ai.
more tech this week: chatgpt passes cpa exam on second try | smartwatch saves two lives | first e-road charges electric vehicles as they drive | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
“generative ai can disrupt and redefine the professional landscape, but it is clear from our findings that there is a trust gap with professionals,” said steve hasker, president and ceo of thomson reuters. “the future of professional work is set to be revolutionized by generative ai, and as an industry, we need to work together to find the right balance between the benefits of technology and any unintended consequences. we believe this will help our customers first to trust the transformative power of generative ai and then harness the opportunity to shape the future of their professions.”
why the u.s. must act now to protect our online privacy
lawmakers need to step up. don’t expect big tech to help.
by jonathan baron
i’m thankful for the european union. they watch out with much more diligence to protect privacy and do so with an eye to cybersecurity as well. but at least our regulators in the u.s. are fairly good, but slow, followers.
more cybersecurity: top tax vendors caught red-handed selling private taxpayer data | how hacker-proof is your firm? | it takes a village to stop cybercrime | one-third of cyber attacks involve small businesses | cyber insurance costs rise in health care as attacks soar | the why, what and how of cybersecurity for accountants | when cyber-crime hits close to home | cybersecurity for tax professionals |
more jon baron: top tax vendors caught red-handed selling private taxpayer data | client accounting services poised to surge in post-corona world | tax pros retake market share from diyers | three new technologies that will change everything [video] | economic mega-trends [video] | today’s best opportunities for accounting firms [video] | re-invest in your firm or get out? [video] | when tax work dies [video] | the big shift and the shakeout [video] | why the u.s. lags the world in tax tech [video]
i was reminded of this because the other day, i received my quarterly report from deleteme, which i use to periodically clean up my data being bought and sold without my knowledge on the open market. since our last report, my wife and i have had over 20 new third parties needing cleanup. unbelievable.
jody padar: build a practice that works for you, not vice-versa.
if you can’t change your pricing or your customers, it doesn’t matter how efficient you are
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the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间
jody padar, the author of the radical cpa, has been shaking things up in the accounting world for years. but today, firms are at a boiling point, limited by supply and demand. “you only have so many people doing the work. and what are you going to do? you can’t make the work up. it’s got to get done,” padar said.
more: jody padar here
podcasts and videos: peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | 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 | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson
the old business model was taking whoever walked in and billing by the hour. but today, we don’t have the capacity. “there’s so much work out there,” she explained. “i have not heard any accountants say that they are looking for work. they’re all saying, ‘stop, go away. i don’t have the resources to serve you.’”
read more →
can we lead gen z to careers in accountancy?
online campaigns are just the beginning.
by 卡塔尔世界杯常规比赛时间 research
do you remember what was at the top of your mind back in high school?
a career in accountancy, right?
more: new aicpa program aims to open personnel pipeline
right. maybe. but probably not. you probably had other priorities. you probably didn’t even know what accountants did all day, other than wear suits and crank adding machines.
read more →
survey: more than ever, ethics matter
opportunities persist for trusted advisors.
by 卡塔尔世界杯常规比赛时间 research
new businesses mean new business
some are side hustles that flourished. seven lessons for accountants.
by 卡塔尔世界杯常规比赛时间 research
new businesses are burgeoning. last year, 5 million new businesses entered the market, according to a survey from the gusto company. entrepreneurialism is 42 percent higher than it was just before covid-19 hit.
every one of these new businesses – and they include full-time leadership as well as part-time side hustles – is a potential client for a cpa practice. but the demographics – and thus the marketing strategies – are quite different from the historical white males who used to comprise most of the entrepreneurial cohort.
read more →
accounting jobs up 4% for year
payroll services up over 7 percent.
by beth bellor
卡塔尔世界杯常规比赛时间 research
employment in the accounting profession continues to climb, according to the most recent federal jobs data. new highs were set in
- employment overall and for staff, cpa firm staff, payroll, payroll staff, bookkeeping and women
- earnings overall and for staff, and for payroll staff
total nonfarm payroll employment rose by 339,000 in may, with the unemployment rate ticking up by 0.3 percentage point to 3.7 percent. the professional and business services sector added 64,000 jobs, similar to april.
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