today's features

mike maksymiw: be the leader you wish you had | the disruptors

if no one’s complaining that your fees are too high, your fees are too low. 

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the disruptors
with liz farr

mike maksymiw, the leader of aprio firm alliance, hates charge hours as a primary performance metric. he even left a firm where he was a partner because of a dispute over charge hours. although he exceeded his revenue goals by a healthy margin, he was penalized because he got the work done in fewer hours.

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: applegoogle/youtubespotifyiheartdeezer, amazon music, audibleplayer fmaudacy, rss. | more podcasts and videos: terrell turner: build a solid business showing up as yourselfkelly mann: be the bull in the china shopalicia katz pollock: create a human-centric businessnancy 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 |

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“the main thing i was supposed to do, i was doing,” he tells liz farr in this episode of the disruptors. and if he hadn’t been meeting his revenue goals, that deficit in hours would have been something to remedy.  “so i don’t want people to think there’s no place for these metrics. we need to put them in the right order that makes sense for running a business.”

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solving staffing requires intention

man in suit with hand extended, coworkers in background

“getting work was easy, but getting it done was hard.”

by matt rampe
the rosenberg national survey of cpa firm statistics

the staffing struggle won’t turn around overnight. firms that want to succeed need an intentional strategy on recruiting and retaining talent.

editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: how accounting firms are handling the staff shortage | the future of fees | as private equity closes in, firms seek new answers to staffing problems | when staffing falls short, clients get culled | how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
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private equity and technology will continue to advance. this will create a more competitive landscape, with more firms innovating on all aspects of the traditional cpa firm model.
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breaking tradition, wimbledon replaces line judges with technology

after 147 years, one of the world’s most tradition-rich sporting events will bust out of its comfort zone.

by rick richardson

wimbledon, the oldest grand slam tennis tournament, is bringing itself into the 21st century by implementing electronic line-calling instead of human line judges.

more tech this week: gates foundation, uk fund biotech grant for ag breakthroughmicrosoft refreshes copilot with wave 2 | thomson reuters brings al to audit solutions | new in-flight earbud adapter ideal for travelers | new tech turns bombed-out rubble into blocks for new homes | discovery in california could power 375 million electric vehicles | lexar ssd expands storage for pro-level video | five new google maps and waze features | new warehouse robot could revolutionize efficiency | new pacemaker powered by light, no batteries | microsoft patents an encryption system to block visual hacking
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the all england club recently stated that starting in 2025, technology will make the “out” and “fault” calls at the championships, eliminating the necessity for human officials to do so.

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eleven questions about kids, wealth and the family business

three people discussing a document

cpas have a role to play.

by 卡塔尔世界杯常规比赛时间 research

inheritance is notorious for ripping families apart. many manage to divvy up their parents’ wealth with the kind of mutual love and respect we expect to see in families.

but sometimes, with the smell of moolah in the air, it’s more like a knife fight.

it’s even more complicated when there’s a family business involved.

more: twelve years and out: seasoned accountants join the exodus | how accounting firms are handling the staff shortage | gen ai in accounting: epic transformation, or overheated hype? | survey shows big opportunities in small business | salary guides for accountants vary widely: whom do you believe? | are you earning what you deserve? | the slow, painful death of the 150-hour rule | partner comp earnings gap: what’s the right spread? | main street accountants see turbulence ahead for small business
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so many questions

unless there’s just one inheritor, one who wants to own and run the business, there are many complex issues – financial, legal, psychological – that need to be resolved.
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history could help accountant-vendor relations

older woman showing young woman something on office computer screen

think about where you want your business to be.

by seth fineberg

the phrase “history is the greatest teacher” can be applied in many ways, but to me it does not ring truer than when thinking of the current state of accountant-vendor relations. in short, it’s not all that good.

more: accounting needs a ‘rethink’ not a ‘rebrand’ | big change comes with deep reflection | three ways to raise the bar for your business
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the accounting profession has evolved to the point to where there is a tool for every task, and the choices have never been more plentiful or the process of selecting one more challenging. at the same time, having overseen this profession as long as i have, the thing that’s been clear is the risks of tying so much of what you do to one vendor.
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sarah cirelli: launching the ‘swat’ plan at grassi cpas | capstone conversations

capstone conversations
informal and informative discussions with leading growth strategists from the nation’s most dynamic cpa firms.

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with jean caragher
for 卡塔尔世界杯常规比赛时间

when the covid pandemic hit grassi cpas, chief marketing officer sarah cirelli launched a “swat” program to stem the losses and reap an extra $2 million in new fees.

tune in to capstone conversations every monday | 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 | catch jean caragher every friday with gear up for growth here

in this episode of capstone conversations with jean caragher, cirelli explains the swat toolset, which stands for “special weapons and tactics,” an automated dashboard with the firm’s crisis response and recovery services, all the marketing data, and every prospect and client who attended a webinar or called their hotline, the questions they asked, the industry they operate in, and where they were in the lead generation process.

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twelve years and out: seasoned accountants join the exodus.

no longer a problem confined to just new talent or middle managers.

where they go: the biggest slice, 19 percent, goes into finance, followed by business and operations. (via live data)

by 卡塔尔世界杯常规比赛时间 research

in a startling shift, thousands of highly experienced top-level accountants are leaving the field mid-career, challenging the long-held view that the staffing crisis is limited to new graduates or middle managers.

related: middle managers getting squeezed | explaining the talent shortage in one big chartsalary and compensation outlook for small cpa firms | gen ai in accounting: epic transformation, or overheated hype? | more: the talent crisis | download the national pipeline advisory group report

for many accountants on the edge of transition, the coming years will determine whether the profession can reinvent itself to retain the trust of its workforce or continue to lose ground as one of america’s fundamental professions.

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how accounting firms are handling the staff shortage

two women having business discussion in front of laptop; wall of windows in background

some creativity may be in order.

by 卡塔尔世界杯常规比赛时间 research

rare is the cpa firm that has no problem finding, hiring and retaining professionals in accountancy. those that don’t have a problem are either not hiring or are paying plenty with packages that include higher than average salaries, the option to work remotely, stock option plans and other benefits.

more: the future of fees | as private equity closes in, firms seek new answers to staffing problems | when staffing falls short, clients get culled | how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
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several of the top-notch consultants who contributed observations to the 2024 rosenberg national survey of cpa firm statistics not only noted the problem but shared some of the solutions that firms are applying.
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ai can help market your firm

it augments rather than replaces human expertise.

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

artificial intelligence can do a lot of things very effectively, and one of them is to offer numerous benefits to a look at it as a start and not the end of the ai marketing discussion.

more: twenty questions to ask before starting your marketing plan | five ways smart marketing boosts your firm’s enterprise value | marketing’s role in staffing and recruitment | measuring marketing success: the 10 kpis | seven reasons marketing can make your firm a great place to work | seven ways that marketing helps you retain clients | is pricing a marketing function? | develop your personal marketing plan in ten steps | five ways to make partners fall in love with marketing | analyze your firm to keep it current | what makes a great website? | losing can help you win more | three more strategies for growing your practice | four strategies for building your practice | eight areas to cover for personal goals
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here are some ways ai can assist in your marketing efforts:

  1. customer segmentation and targeting: ai can analyze vast amounts of data to identify patterns and segment customers based on their preferences, behaviors and demographics. this enables the firm to create highly targeted marketing campaigns tailored to specific customer segments, resulting in improved engagement and higher conversion rates.

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donny shimamoto: defining accounting transformation | accounting influencers

“this is a new area for accountants, but it’s an evolving area, and i think it represents a great opportunity for us…”

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accounting influencers
with rob brown

rob brown and donny shimamoto discuss reform, transformation, and change in the accounting profession at individual accountant and cpa plus practice levels.

more accounting influencers with rob brown here

in 2001, donny founded intraprisetechknowlogies llc, a specialized cpa firm dedicated to helping small businesses and middle-market organizations leverage strategic technologies, proactively manage their business and technical risks, and enable balanced organizational growth and development. donny also works as a trusted business advisor with larger organizations, facilitating organizational strategic planning and execution, it governance and planning, enterprise architecture, information architecture and assurance, business process improvement, and business intelligence initiatives.

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alex drost: firms get scrappy against pe-backed competitors | gear up for growth

as private equity gains momentum in the accounting industry, firms face a decision: embrace external investment or double down on independence.

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

in this episode of gear up for growth, alex drost, managing principal of connection builders, discusses the growing interest in private equity in the accounting sector. hosted by jean caragher, president of capstone marketing, the conversation delves into the driving forces behind pe investments, the challenges investors and accounting firms face, and how firms can prepare for the evolving landscape.

gear up for growth spotlights the best strategies for smart and efficient growth in today’s competitive landscape. more gear up for growth every friday here.more capstone conversations with jean caragher every monday | more jean caragher here | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | more 卡塔尔世界杯常规比赛时间 videos and podcasts here

the accounting profession is no stranger to change, but according to drost, recent shifts are reshaping the industry more dramatically than ever before. “we’re seeing changes not just in technology but in the makeup of the profession itself,” he says. “the aging partner base and different generational approaches to firm ownership are creating gaps that private equity sees as opportunities.”

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gen ai in accounting: epic transformation, or overheated hype?

cornerstone report: artificial intelligence 2024

accountants embrace ai. via moss adams

by 卡塔尔世界杯常规比赛时间 research

more 卡塔尔世界杯常规比赛时间: cornerstone research reports
more 卡塔尔世界杯常规比赛时间 ai: ai will steal your job and that’s a good thing | ai displacing more jobs in banking than other sectors | a.i. automation tools for tax, accounting, and finance professionals |  ai’s role in modern accountingai named the highest-paying in-demand tech skill for 2024chatgpt is getting humanlike memoryhow to use chatgpt to create imageshow to leverage chatgpt during this crazy tax season |

insights and implications

i. at a glance

  • impact: gauging the influence of generative ai on the accounting industry.
  • consequences: the new shape of accounting practices.
  • strategies: for accounting firms, regulatory bodies, and educational institutions.

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