by martin bissett
the m&a picture has changed.
by 卡塔尔世界杯常规比赛时间 research
rosenberg survey
you probably thought you’d never hear these three words together, but here they are: accounting is hot.
this isn’t to say that cpa practices have six-pack abs and saucy haircuts. they don’t. but as far as markets go, accounting firms are hot items for investors looking to snatch up profitable organizations.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
the attraction is the consequence of two years of double-digit growth – the golden age of the accounting industry. revenues jumped in 2022, and then they jumped again in 2023. and 2024 ain’t looking too bad, either.
according to the 2024 rosenberg national survey of cpa firm statistics – the 26th edition of the gold standard analysis of the industry – fee growth in 2023, excluding mergers, ranged from 3.2 percent for firms billing under $2 million, to 11.4 percent for firms with over $20 million in billings.
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enabling your team to fire clients supports the ethos that your team is your most valuable asset.
by jody padar
radical pricing – by the radical cpa
there are few ways to sink an accounting firm faster than winning bad clients. they will rob your profitability, steal your sanity and cause havoc among your staff and other client relationships.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
ask yourself these questions and be prepared to walk away if you don’t get the right answers:
how will proposed tax reforms impact businesses and tax professionals in the 2024 election cycle?
accounting arc
with liz mason, byron patrick, and donny shimamoto
center for accounting transformation
the 2024 election is poised to bring significant changes to tax policy, and the accounting profession is bracing for the potential impact.
more accounting arc: leadership for the future: stakeholders, sustainability, and strategic vision | in-person conferences still essential | non-accountants in accounting: a game-changer for the profession | rubik yeriazarian: smaller firms offer big opportunities for rapid skill development in forensic accounting | accounting arc | ai will steal your job. and that’s a good thing | accounting arc | the right kind of lazy: innovative approaches to streamlining workflows | accounting arc
as political candidates propose tax reforms, professionals in the field must be prepared to understand and communicate the implications of these changes to their clients.
the latest episode of accounting arc brings to light the challenges and responsibilities that cpas face in navigating the intersection of politics and tax policy. read more →
plus some predictions about where the job market is headed.
by 卡塔尔世界杯常规比赛时间 research
here’s a statistic you can probably sympathize with. according to new salary data, 99 percent of finance professionals report experiencing some level of burnout in the past year.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
unless you’re in that other 1 percent, you know how it feels. and who could blame you for feeling that feeling and then looking at your paycheck?
bonus: ten questions to check your comfort level.
by martin bissett
business development on a budget
i’ve been asking you to believe in yourself, to get your potential clients to open up to you, and to demonstrate to them the outcomes that working with you and your firm would create in their personal and professional lives.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
now here’s a checklist for you to run through before you begin your next business development initiative, and before each new business appointment that you have.
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auditors can experience increased efficiency, enhanced accuracy and improved transparency.
by rick richardson
technology this week
thomson reuters, a global content and technology company focused on the public accounting profession, launched thomson reuters audit intelligence recently. this suite of ai-powered, data-driven audit solutions is designed to transform audit practices by reducing errors and enhancing confidence while enabling auditors to realize efficiency gains.
the first tool in the suite, audit intelligence analyze, employs ai and machine learning to enhance audit quality and efficiency simultaneously. the solution focuses on high-risk areas by efficiently segmenting audit testing populations based on risk level and reducing the number of items to be tested. with advanced anomaly detection, analyze integrates directly within existing workflows, identifying unusual items often overlooked by humans and automatically generating all necessary audit documentation.
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why would you not?
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: i do not belong to the njscpa and see no value in it. what are the benefits if i am a sole practitioner and just starting out?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
response: i belong to the aicpa, njscpa and nysscpa, feel strongly about supporting these societies and believe it is a responsibility of professionals to do so.
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own your expertise and price it accordingly – yes, even in audits.
by alan anderson, cpa
transforming audit for the future
those firms that value the chargeable hour above all risk losing their best team members. the ones who want to think, innovate and come up with creative ideas that add value to the client and the firm will leave.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
when audits are billed out on a flat-fee basis, is an hourly rate still relevant? tracking time isn’t a revenue system if it does not impact what the client pays you. the billable hour is nothing more than a cost accounting system. production is what the client pays for, so measuring that, plus instituting measures for accountability, more closely mirrors what brings money in the door.
by 卡塔尔世界杯常规比赛时间 research
a newsletter for clients should serve several purposes. frame it so that it does more than simply state facts. aim those facts as various objectives.
more listicles here
once you create a newsletter, make it pay off.
firms still are working out their options and business models.
by 卡塔尔世界杯常规比赛时间 research
the 2024 rosenberg national survey of cpa firm statistics has found something that everybody knew. it has also found that there’s more of it than anybody knew.
and that there’s more coming.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
this swelling tsunami sweeping over the accounting industry is the use of outsourced staff, outsourced tax returns, and the ultimate in remote work, offshoring assignments and functions to foreign lands.
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the inspector general smells something fishy.
by 卡塔尔世界杯常规比赛时间 research
believe it not, there are large american corporations that establish a pseudo-presence in other countries for the sole purpose of evading taxes.
and that’s not the only trick in the corporate books.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
granted, sometimes those tricks are legitimate tax tactics. the tax code has loopholes, and that’s what they’re for.
needless to say, corporate tax strategy can get pretty complicated. there is an entire industry of lawyers, accountants and wealth management professionals dedicated to walking the fine line between evasion and due diligence in the interest of shareholders.
read more →
is your firm overlooking any of these opportunities?
by august j. aquila
price it right: how to value accounting services
we have talked about creating a marketing culture and an overall firm culture. these two concepts have been around for more than 30 years. what we are seeing today is that a marketing culture can have a significant impact on retaining and bringing in new staff. firm culture also plays a huge role in retaining employees and even partners.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
while the primary function of marketing is often associated with promoting products or services to external clients, it also has an important internal role in attracting, engaging and retaining top talent within the organization. here are six key ways in which marketing contributes to staffing and recruiting in a professional service firm: