today's features

artificial intelligence: it’s a matter of time

bar chart

what are you saving it for?

by 卡塔尔世界杯常规比赛时间 research

what is artificial intelligence good for? we still don’t know. we know it’s going to be good for a lot, but so far, we’re using it only for a little – just a taste of what’s to come.

more: ai will steal your job. and that’s a good thing | allan koltin: how small firms can thrive against pe-powered competitors | the power of community in accounting | desperate cfos are outsourcing accounting functions | does firm culture still matter? | tax and accounting jobs and salaries show strength | tax law is driving practice development | olympics of outsourcing and offshoring for accountants | new study: strong and steady growth for accountant jobs and salaries | turnover timebomb: 4 of 5 senior managers at risk
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

one major impact will be on that elusive infinite, time.

for one thing, ai’s going to save a lot of time. tasks that used to take hours or days will soon take mere seconds.

but is that a good thing or a bad thing?
read more →

eleven types of audit clients and which to fire

bad clients can bring turmoil by increasing the likelihood of regulatory scrutiny, legal troubles and reputational damage.

by alan anderson, cpa
transforming audit for the future

in the realm of auditing, client selection is a critical decision that can significantly impact the health and harmony of your team and your firm. auditors should be highly selective about their clients because engaging with entities that lack ethical standards, have complex or opaque financial practices, or demonstrate a history of compliance issues can lead to substantial risks and challenges.

more: don’t risk losing good employees for bad clients | can a service center model solve audit staffing shortages? | move to advisory and assurance with relevance | use eight audit exit items to deepen client relationships | know your three audit w’s | planning lays the foundation of audit relevance | are you correctly identifying the relevance intersection? | traditional audits don’t deserve premium billing

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

 

when we discuss the types of clients that our teams find challenging to work with, we can divide them into these categories:

read more →

hourly billing doesn’t cover the value; now what?

a lesson in applying judgment.

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

question: i helped a client get a bank loan, negotiated the rate and fees with the bank and had a tight covenant loosened. i prepared a personal financial statement, prepared a compilation statement for the business, projected financial figures and accounts receivable projections and reviewed and discussed them with the bank, and had numerous conversations with bank and client.

more: ask for what you’re worth | the top tip for reviewing tax returns | you have to start somewhere | two options for collecting past due fees | you can’t win with lowballing | nine reasons not to specialize | when board service gets tricky | yes, you have to share work papers | hiring experience vs. training inexperience | eleven ways new staffers can help bring in business | should you merge? here’s how to chart your path
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

read more →

make your next busy season easier now

sad businessman sitting at desk outdoors and looking straight ahead

five ways to shift some of the heavy lifting to your lighter months.

by sandi leyva
the complete guide to marketing for tax & accounting firms

for some of you, summer can be a slow time in your business. if you do taxes, all the action is during busy season and in september if you have a lot of extensions. if you’re a bookkeeper, your busiest month is january. and if you do software consulting or training, it slows down in july and august.

more: how to put your strengths to work for you | implement these two daily rituals | want to close a deal? set a deadline | five business development mistakes to avoid | how to leverage chatgpt during this crazy tax season | eight steps to getting started with ai: a guide for tax professionals | you don’t have a time problem | three money leaks and how to plug them | eleven ways to serve clients even better
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

if you have a good relationship with your clients, you might be able to move some of your busy season work to off season. and if you have clients who are ready to take advantage of new technologies, there are lots of opportunities in the cloud. here are five quick ideas to stir up some revenue in the slower summer months.

read more →

develop your personal marketing plan in ten steps

woman working on laptop in office setting

are you a trusted resource?

by august j. aquila
price it right: how to value accounting services

let’s face it, achieving the firm’s goal is everyone’s responsibility. it cannot be delegated to a marketing director or a handful of rainmakers.

more: five ways to make partners fall in love with marketing | analyze your firm to keep it current | three more strategies for growing your practice | understand the 10 steps of the buying process | calculate the cost of losing clients | eleven possible pitfalls of mergers | six ways to expand your client services checklist | four questions for choosing your marketing audit strategies
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

everyone has his or her own style, strengths, weaknesses and objectives when it comes to marketing and bringing in new business. a personal marketing plan gives you the opportunity to take responsibility for

  • developing a referral network,
  • obtaining new business from existing and new clients, and
  • increasing your personal balance sheet by developing new marketing and communication skills.

read more →

allan koltin: how small firms can thrive against pe-powered competitors | gear up for growth

how to remain independent when private equity comes knocking.

listen, stream, download, subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: applegoogle/youtubespotifyiheartdeezer, amazon music and audibleplayer fmaudacy.

gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间

“more than half of the cpa firms in the country won’t qualify to be part of private equity,” says allan koltin, ceo of koltin consulting, appearing on gear up for growth, a new show hosted by jean caragher, president of capstone marketing, and powered by 卡塔尔世界杯常规比赛时间.

gear up for growth is tailored specifically for public accounting firms with up to 100 team members looking to expand their practices intelligently and efficiently. each episode focuses on a topic crucial for accounting firms aiming for smart growth in today’s competitive landscape.

find more episodes here, including:

follow jean caragher on 卡塔尔世界杯常规比赛时间 here. | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | and watch for jean caragher’s other show, capstone conversations, with leading growth strategists from the nation’s most dynamic firms, also available on 卡塔尔世界杯常规比赛时间

part of the discussion explores the criteria private equity companies look for and the challenges firms may face in qualifying for pe funding. koltin believes that more than half of the cpa firms in the country don’t make enough excess profitability to create earnings before interest, taxes, depreciation, and amortization (ebitda) to calculate an acceptable enterprise value.

“leaders of these firms tell me they’ll go back and get more profitable,” says koltin. “how’s about, let’s stay as an independent firm. let’s put a level of governance in. let’s make the tough decisions we’ve been talking about forever, and let’s really run it like a business. let’s not be a 501(c)(3) anymore. let’s just pretend we’re in business to make money.”

read more →

bissett bullet: ‘x’ marks the spot

today’s bissett bullet: “when it comes to identifying ways in which you could grow your fees by providing more support to your current clients, who do you prioritize?”

by martin bissett

imagine, if you will, a venn diagram with three overlapping circles in which to plot your current clients.

who trusts you the most and would believe in your ability to support them in more ways than you currently do?

who would you categorize as a “grade a” or ideal client?

based on what you know about their business, who would benefit the most from additional support that you are able to offer?

the center of that diagram where they all overlap? that’s where the treasure is buried.

today’s to-do:

draw your venn diagram treasure map. those clients in the sweet spot are your priority.

see more bissett bullets here

read more →

steve yoss: charting, graphing, and mapping data made easy | quick tech talk

depending on the information you’re sharing, you’ll want to select the right imagery. 

quick tech talk
with steve yoss
cpe today

tools like microsoft excel, power bi, tableau, and others are loaded with different visualizations that you can use: charts, bar graphs, maps, just to name a few. in fact, excel probably has at least two dozen different types of charting and graphing formats.

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

did you know different charts tell different stories? for example, a pie chart compares parts against the whole. it’s important that we choose the right chart for the analysis we’re doing. if we wanted, for example, to analyze revenue by different business units, that pie chart would be really effective, but something like a scatterplot might not be.

read more →

ai will steal your job. and that’s a good thing | accounting arc

ai’s integration into accounting is an opportunity to elevate the profession and enhance job satisfaction.

stream, listen, download, subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: applegoogle/youtubespotifyiheartdeezer, amazon music and audibleplayer fmaudacy.

accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation

few industries are poised for as dramatic a transformation as accounting in the rapidly advancing world of artificial intelligence. the latest episode of accounting arc, “ai will take your job—and that’s a good thing,” explores this impending shift, offering a fresh and optimistic perspective on ai’s role in the profession.

more accounting arc

the episode’s hosts, liz mason, cpa; byron patrick, cpa.citp, cgma; and donny shimamoto, cpa.citp, cgma; delve into the implications of ai with a bold assertion: ai will indeed take over many accounting jobs, but this is a development that should be welcomed, not feared.

read more →

the power of community in accounting

nine businesspeople talking at conference social hour

when you can’t figure it out on your own.

by seth fineberg
at large

accounting may have long been considered a community of professionals, yet not many have felt the true sense of what that means or have bothered to take advantage of it. moreover, there’s been no greater need to recognize and utilize community in accounting than now.

more: does firm culture still matter? | accounting needs a ‘rethink’ not a ‘rebrand’ | big change comes with deep reflection | 3 ways to raise the bar for your business | make it ‘productive season’
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

as the profession moves its way through yet another point of inflection, one not likely seen for decades, the list of factors impacting how accountants work and why they do what they do is growing:

read more →

four steps to scoping for alignment … and the #1 rule to remember

only price for that which you can see. 

by jody padar
radical pricing – by the radical cpa

how often have you heard the old saying about having two ears and one mouth because listening is twice as important as talking? hopefully, often, because it is as true as anything i’ve ever heard. scoping is all about listening, so when you make a presentation, you’ll know what you’re talking about, and the client will know you know.

more: getting aligned on scope helps your team and your clients | create more meaningful kpis | here’s how profit sharing improves your firm | five areas to ground new metrics other than time | five reasons to ditch timesheets for goodproductize services for consistent client value | digitize clients for standardization | six steps to creating a standardized practice | value pricing requires defining your clients | stop selling time | three critical factors drive the value pricing trend | stop looking for talent that does not exist
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

here are four basic steps you can follow to make sure you and the client are in alignment when the time comes to start a new project or present to a potential new client:

read more →

think of it as service, not selling

what are you trying to build?

by martin bissett
business development on a budget

being a successful person according to your own measurement of that, and your own goals and your own standards is different for everyone.

more: eight questions for personal preparation | perception, even your own, is reality | stop waiting for business to come to you | four key questions about leadership | showing leadership through customer service | the real math behind the sales pipeline | keep business development going during busy season | walk the commitment walk | two steps toward mastering selling | thirteen ways to show commitment | clients can’t grow without you | seven mistakes in winning new fees | how to develop your communication abilities
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

if you’re comfortable with yourself, it’s very likely that others will be too. if you understand the value that you offer (how you can improve a client’s situation to move them closer toward their personal and professional aspirations), you’re likely to be able to convey that value in front of a prospect.

read more →

new pacemaker powered by light, no batteries

can science save lives with solar power?

by rick richardson
technology this week

pengju li and his colleagues at the university of chicago have created a wireless, ultrathin pacemaker that utilizes light similarly to a solar panel. because it conforms to the shape of the heart, its design reduces interference with the heart’s normal function while simultaneously eliminating the need for batteries. their findings, just released in nature, provide a novel strategy for heart pacing and other therapies requiring electrical stimulation.

more technology this week: microsoft patents an encryption system to block visual hacking | recently discovered antibiotic spares ’good’ bacteria | is nasa about to make air travel cheaper? | startup creates legolike brick that can store air pollution | ai displacing more jobs in banking than other sectors | your brain can store 10 times more than anyone thought | how many ev charging stations will we need? | google launches new private space feature | microsoft discovers a security flaw impacting android apps | what is an ai pc, and should i get one?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

medical devices called pacemakers are inserted into the body to control cardiac rhythms. they are comprised of battery-operated electrical circuits with leads that are fixed to the heart muscle to stimulate it. leads, however, can break and cause tissue damage. once implanted, the leads’ position cannot be altered, which restricts access to various cardiac areas. because they use stiff iron electrodes, pacemakers could also cause tissue injury when they are used to regulate arrhythmia or to restart the heart after surgery.
read more →