join alan anderson, founder and president of account-ability plus and author of “transforming audit for the future,” for a dynamic session on how to make the audit fun and profitable again.
too many firms approach audit planning as a saly afterthought. but that’s a mistake.
in this session, anderson reveals the secret to right-sizing the audit. he teaches a planning methodology that ensures successful audits every time. the process creates a better work experience for staff, assists in providing more value for clients, and ensures that the financials are issued on time.
wealthability founder and veteran cpa tom wheelwright dives into the essential strategies for client-centric service and relationship-building in accounting. hosted by rob brown, this episode explores how accountants can elevate their client relationships, optimize billing practices, and bring joy back into their work.
in an industry where billing by the hour is typical, wheelwright advocates for a shift to flat, value-based pricing. this, he explains, allows accountants to focus on delivering value without clients worrying about the ticking clock.”when clients know upfront what they’ll pay, it removes financial surprises and puts the focus on service, not cost,” wheelwright says. “our clients need to know we’re there to solve their challenges without worrying about extra charges.”
gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间
while many skills contribute to effective leadership, gary shamis, president & ceo of winding river consulting, says executing strategic plans is the most critical.
“i have come to the conclusion that strategy is not hard,” says shamis. “strategy is easy. and there are no secrets around strategy. the difference is your ability to execute that plan.”
shamis says only the ability to implement plans at a high level enables firms to progress, grow, and achieve their long-term goals.
since the turn of this century, a dreadful shortage of accounting professors has challenged universities’ ability to meet student demand for accounting courses.
the cpa firm industry has high turnover, generally in the 15-20 percent range. reasons include the technical demands of the work, busy seasons, long hours, the profession’s requirement that people wait 10 to 20 years before making partner and the failure of partners to mentor staff.
as the accounting profession expands beyond its traditional boundaries, rose wang represents a new wave of cpas who bring strategic thinking and entrepreneurial savvy to the table. with roles as a principal consultant at both intraprisetechknowlogies llc and apaira group llc, wang has carved a career path that spans accounting, business strategy, and now, authorship.
“i’ve always approached accounting as more than just numbers,” says wang. “it’s about translating those numbers into a business strategy that makes sense for the client.” based in hawaii and california, wang launched her career with a cpa firm focused on supporting small businesses. rather than just managing books, she partnered with clients to drive business growth. her approach involves analyzing financial statements and identifying strategic opportunities for improvement.
two words come to mind: intentional growth. with leaders making some strategic moves around capacity i feel a general sense of interest in revisiting their strategy around growing the top line. i’m being asked to speak on growth, business development skills and go-to-market strategies more in the next 12 months than i have been in the last several years.
have we finally turned a corner on talent challenges? maybe not entirely, but it is encouraging that owners are beginning to think again about investing in growing their businesses. for that majority that means deeper niching and greater focus on pursuing the right opportunities. i’m having a lot of conversations about how to turn down work. read more →
progress may be more incremental … while resource use continues to boom.
by rick richardson
according to a recent story from the information, openai’s next-generation orion model of chatgpt, which is both rumored and denied to be arriving before the end of the year, might not be everything that has been hailed when it does.
according to the report, which quotes unnamed openai staff, the orion model has shown a “far smaller” improvement over its predecessor, gpt-4, than gpt-4 did over gpt-3. according to the same individuals, orion “isn’t reliably better than its predecessor (gpt-4) in handling certain tasks,” particularly coding applications, even though the new model is noticeably better at general language functions like creating emails or summarizing documents. read more →
greg adams believes that accountants’ work opportunities have long been underappreciated and misunderstood. when accountants at parties are asked what they do, adams explained that they always have to give the “but answer,” as in, “i’m an accountant, but i have a really cool job.”
adams himself has spent time in australia and barbados and “had lots of adventures” during his time at kpmg.
his new book, green shade$, is an attempt to dispel the notion of accounting as limited to just tax or audit and “to change the branding and image of accountants.” a fan of jack reacher-type thrillers, adams wrote an accounting book that comes with a warning: “it has a little bit of violence in there and some sexual tension and but even has accounting equations.”the protagonist, dex mccord, jumps off a cliff while dodging bullets, but in his quest to solve the murder of an old accounting friend, he is “aided by at least 10 different types of accountants,” experts in transfer pricing to sec filings.
capstone conversations
by jean caragher
for 卡塔尔世界杯常规比赛时间
glen carmichael, digital marketing coordinator at yhb cpas and consultant, is pushing the firm’s newsletter to more than 55,000 recipients, growing educational webinars to 23, and garnering 64,000 blog readers annually.
but with achievements like those, it’s no wonder she has received the association of accounting marketing rookie of the year award.
in this episode of capstone conversations, carmichael shares her thoughts about her accomplishments, challenges, and insights into marketing for cpa firms.
in a deep dive into private equity’s involvement in accounting, gary shamis, ceo of winding river consulting, describes how investment firms see value in the sector’s steady cash flows and resilient recession history. “it’s not that accounting is recession-proof,” shamis states, “but its inherent stability during economic downturns is highly appealing to investors.” he adds that accounting firms with strong advisory practices that offer scalable revenue opportunities are particularly interesting to private equity.
the conversation takes a sobering turn as shamis highlights the ongoing talent shortage within the profession. with fewer accountants entering the field and a growing demand for regulatory and advisory services, shamis emphasizes that private equity deals won’t solve the critical issue of human capital shortage. “there’s just not enough talent in the pipeline,” he cautions.
gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间
alan whitman, ceo of adw advisory, formerly led baker tilly u.s. through a meteoric rise from $475 million to $1.5 billion in revenue. in this episode of gear up for growth, he shares his wealth of experience and insights.
one of the central themes of the conversation is the potential for smaller cpa firms to outpace their larger counterparts in innovation and agility. whitman highlights the advantages small firms have, such as their ability to pivot quickly and try new approaches without the bureaucratic hurdles larger organizations face. “speed and being nimble are critical,” whitman asserts. however, he notes that smaller firms must adopt a forward-thinking mindset, emphasizing, “hopefully, smaller firms aren’t biased by always doing it the way you’ve done it in the past.”
