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the slow, painful death of the 150-hour rule

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ending a 50-year mandate, now “competency” counts (again).

by rick telberg
卡塔尔世界杯常规比赛时间 research

after a quarter century of campaigning to get the 150-hour rule passed by all 50 states, overcoming opposition that seemed at one time as if it would rend the profession’s institutions, and after another quarter century of finding that the rule was failing by all critical measures, the aicpa and nasba are rolling out a workaround that could kill the rule.

more 150-hour rule  | download the exposure draft

the organizations are offering a “competency-based” hurdle for cpa licensure that signals abject surrender.

this is the story, 50 years in the making, of (mostly) good intentions gone bad, unintended (but not unforeseen) consequences, and how rank-and-file cpas (eventually) overcame the power plays of multinational firms. read more →

the community of accountants is a superpower

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eight excited office workers around conference table

leave your silos and explore an incredible breadth of options.

by liz farr

accounting, by its nature, is a solitary activity. but we don’t have to solve our firm’s problems alone. we don’t have to suffer alone.

join liz farr at the linkedin 卡塔尔世界杯常规比赛时间 group | more liz farr | follow liz farr on the disruptors wherever you get your podcasts: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss.

all we need to do is reach out to others, listen, ask for guidance, and know we will be heard and supported.

read more →

give the recognition your staff needs

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five people applauding in business setting, recognizing coworker

fifteen common ways that firms do it.

by marc rosenberg
cpa firm staff: managing your #1 asset

“i could live two months on one compliment alone.” – mark twain

suppose you ask staff (or partners, for that matter), “how important is it for the firm or your boss to recognize your accomplishments and efforts?” a knee-jerk response may be this: “it’s nice but not that important. i’m self-motivated and don’t need others to tell me when i do something good.”

more: the importance of great bosses | how remote work is impacting accounting firms | make work flexibility work for everyone | why staff leave cpa firms … and how to stop them | how to solve the big disconnect in talent management | what relevance means for staffing in accounting | how accounting staffing has changed
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we usually regard these responses as somewhat defensive because everyone wants recognition. it’s a fundamental human need.
read more →

bissett bullet: who is in control?

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today’s bissett bullet: “resolving concerns is an area in which the new client process can easily collapse if handled incorrectly, but it doesn’t have to be a showstopper.”

by martin bissett

it’s natural to feel a little helpless. notice how you put in all of that hard work only to hit a roadblock? notice that you keep hearing the same concerns? “we will do something with you, but not right now” and “we need to think about this, we’ll come back to you” are two that you will hear time and time again.

in this situation, all the prospect is telling you is that they feel like they’ve lost control of what’s happening and are pushing back to regain that control. let them take it. control the process of sale so you know it’ll happen and can forecast your growth, but remove their discomfort by allowing them to dictate the timescale.

today’s to-do:

understanding and resolving concerns is a specialist ability that takes practice to develop. prepare your responses to the examples above so you’re not caught on the back foot the next time you hear them and are able to focus on convincing your prospect that it is in their commercial interest to make the move to your firm.

see more bissett bullets here

read more →

is this the last year of accounting’s golden age?

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hourglass breaking, sand blowing away

the authors of the rosenberg map survey have some thoughts.

by 卡塔尔世界杯常规比赛时间 research
rosenberg survey of cpa firm statistics

one thing cpa firms can’t gripe about is revenue. yeah, the hours seem to be getting longer, the struggle harder, the rules more complex, and the technology continuously antiquated. but the money: it’s good.

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

 

the 2024 rosenberg survey of cpa firm statistics—the 26th annual edition of the premier report on the state of the industry—confirms that in 2023, virtually all indicators of cpa firms’ health were good. and, generally speaking, the bigger the firm, the better they’re doing.
read more →

ten client service issues for estate planning | listicle

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schedule an appointment now.

by 卡塔尔世界杯常规比赛时间 research

as successful business people, cpa partners can have complex legacies to leave behind.

more listicles here

if you aren’t an estate planner (and why aren’t you?), you need to find one, ask the right questions and get adequate answers.

here are some of the issues clients should discuss, followed by “how do i do it?” read more →

how to scope before you price

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it’s a learning process that benefits both you and the client.

by jody padar
radical pricing – by the radical cpa

accurate pricing relies heavily on thorough scoping to measure the engagement, and good scoping defines the deliverables, sets the client’s expectations and calculates the labor it will take to get the job done.

 

more jody padar

more pricing

the radical cpa

from success to significance: the radical cpa guide

radical pricing

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with that said, here’s how your scoping process helps you determine the ultimate price:

read more →

jeff joireman: how csr drives consumer behavior | know-how korner

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beyond its ethical implications, csr can bring tangible financial gains, including increased sales and market share.  

subscribe anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), boomplay (africa), or rss. 


know-how korner
with donny shimamoto
center for accounting transformation

corporate social responsibility has become more than just a buzzword; it’s a critical component of modern business strategy.

more: donny shimamoto

in the latest episode of know-how korner, donny shimamoto hosts jeff joireman, a distinguished professor of marketing at washington state university, who shares his extensive research on csr and its profound impact on consumer behavior.  read more →

what rich accountants do

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woman using calendar planner on tablet

make these three things second nature.

by martin bissett
business development on a budget

you may be thinking right now, “well, very good, martin, but we have finite time. we’re very, very busy people and we need to get business in the door, and therefore creation of opportunity becomes the issue.”

more: attract clients, don’t sell to them | how to attract clients | eight questions for personal preparation | how to prepare for partnership | five questions to help forecast your firm growth | do you deliver on your website’s promises? | five questions about facing challenges | be clear about your roi proposition | it’s time to prepare the next generation | who are you more committed to, your firm or your clients? | nine checkpoints before every prospect meeting | three questions about conversion | six keys to turning prospects into clients
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

regardless of whether we’ve got 20 opportunities on our plate today or none, when the next one comes along we can’t afford to be anything other than confident, comfortable, assured relationship builders who have tremendous value to offer. because people will see that body language, those voice tones and hear those words and it will be attractive. they will want to get to know more – they’ll want to be able to look at options. they’ll want to know what you’ll charge, and they’ll want to know what they’ll get for what you charge.
read more →

new in-flight earbud adapter ideal for travelers

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now you can enjoy your peace and quiet … and your in-flight movie.

by rick richardson
technology this week

noise-canceling earphones, such as the airpods pro, are excellent for blocking outside noise when you’re traveling, but there’s a catch: they don’t interface with airplane in-flight entertainment systems.

more: technology this week with rick richardson

fortunately, bluetooth transmitters like the twelve south airfly duo take care of it for you. you can get one at best buy and amazon for about $45, which may even be on sale. read more →

kelly mann: be the bull in the china shop | the disruptors

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stop following saly. think about what you are trying to accomplish. plus 17 key takeaways.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here

click here to load your apple podcast app. subscribe anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss.

the disruptors
with liz farr

kelly mann wants firms to stop relying on saly – same as last year – for everything: “everything is same as last year, the way we give bonuses to people, the way we split partner compensation, the way we monitor hours, the way we prepare a work paper, the way we plan an audit,” she says.

more podcasts and videos: alicia katz pollock: create a human-centric business |  nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial | caleb jenkins: firm growth requires owners to shift roles | chris hervochon: be the leader you want to work for | ira rosenbloom: don’t merge for the money | adam lean: get out of the accountant’s trap

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

when she started in audit, mann was told to “try not to be such a bull in a china shop.”  she saw many opportunities for improvement by departing from saly, but leadership told her, “don’t have crazy ideas, don’t mix everything up, because change is hard and change disrupts.”

read more →

give advice while remaining independent

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find the magic 20 percent that could create clients for life.

by alan anderson, cpa
transforming audit for the future

the pillars of our ethics are objectivity and integrity, and our profession has chosen independence to measure our objectivity as cpas. we can still offer advice and insight to our clients and remain objective. we cannot, however, act in the capacity of management. our clients must decide which ideas to use and implement them.

more: stop mixing up your v’s and losing your best people | empower your team by dumping c and d clients | eleven types of audit clients and which to fire | don’t take on audits in an industry you don’t understand | how ‘business expert cpas’ get their own business wrong | exceptional audit client service demands effective communication | five ways to prevent audit bottlenecks | how do we drive relevance in audit? | lack of relevance drives audit commoditization | four basic understandings every auditor must master
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

the tricky part comes when something we recommend fails. for example, let’s say a client asks for software advice, and they choose one of the three options we suggest. but that package isn’t working. now, can we be objective enough to admit that the advice we gave them and they paid for was wrong? do we have the integrity to tell the client they must write off the cost of that capitalized software? can we be objective enough to face the possible negative consequences and not just protect ourselves?

read more →

don’t blame the client for your location

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vehicles on both sides of a divided highway

charge for travel time and expenses at the risk of alienating clients.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: my practice is in central new jersey and i have a client about 2-1/2 hours away in pennsylvania. the mileage and tolls cost us $200 each month. can i bill for this?

more: realign partners with monthly meetings | i’m 76. should i slow down? how? | ask for what you’re worth | two options for collecting past due fees | when board service gets tricky | eleven ways new staffers can help bring in business | busy season is over, so it’s time for some resolutions | want to merge? six steps to take | how to start providing family office services | every accounting firm needs quality control | no one listens to you? change how you talk | 47 types of business valuation to provide
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

answer: are you crazy? you will lose the client. you would be “penalizing” the client for you not being local to their business.

read more →