today's features

jody grunden: be different. make more money

prove the naysayers wrong.

this video is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members. the podcast version becomes available in a few days everywhere you get your podcasts.

the disruptors
with liz farr

in 2013, jody grunden’s firm, summit virtual cfo, became one of the first financial firms in the world to go fully remote. at the same time, they narrowed their focus to creative agencies. those two changes, combined with a weekly subscription pricing model they’ve been using since 2007, resulted in a “hockey slope type ramp up.”

jody grunden, part 2 of 2: see part 1, june 20 – jody grunden: subscription pricing is a game changer

more podcasts and videos: dawn brolin says grow your firm by shrinking itjason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill morekaren reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusionbill penczak: stop forcing smart people to do stupid worksandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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since then, they’ve been doubling in size every three years, reaching $10 million in revenue by 2022 while maintaining a profit margin of 10-25%. they also ditched the suits and ties back in 2004 and “decided to go against the norm…it really changed the way that people thought about accounting,” grunden says. he is the author of the best-selling building the virtual cfo firm in the cloud.

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steve yoss, quick tech talk: new risks in the emerging regulatory framework

ignorance is not an excuse.nor a legal defense.

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quick tech talk
with steve yoss
cpe today

today’s world is governed by laws and regulations, professional standards, ethical codes, and more. and an organization needs to be able to navigate this incredibly complex regulatory framework. it’s not just about being in business anymore. it’s about staying on the right side of the law and the right side of the profession.

click here for more steve yoss

our framework complexities have never been more sophisticated than they are now. we have policies such as the general data protection regulations (gdpr) in europe or the california consumer protection act (ccpa). guess what?

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bissett bullet: cash is not the issue

today’s bissett bullet: “there are certain criteria that will always need to be demonstrated for you to become a partner in your firm. the ability to find cash up front for investment, however, is no longer one of those criteria.”

by martin bissett

the path to partnership in the accounting profession is evolving. no longer is it necessarily the case that a lack of available funds is a barrier to realizing your ambition.

a forward-thinking practice will find a way to enable their rising stars to fund the deal. don’t allow a lack of cash to get in the way of your career aspirations. focus instead on who you need to be and hone the foundational skills and behaviors you need to demonstrate in order to be the most outstanding candidate for partnership in your firm.

today’s to-do:

if you aspire to partnership, list those necessary skills and behaviors. demonstrate those you have and ask for support with those you still need to develop. show your commitment to the practice now and be recognized as a candidate for the future.

see more bissett bullets here

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digitize clients for standardization

don’t lose your shirt over process.

by jody padar
radical pricing – by the radical cpa

why is mcdonald’s easy to price and why is their product so consistent no matter where in the world you are? you know that if you get a big mac in chicago or one in new york, it will taste and cost the same. this is because of standardization, and you shouldn’t underestimate the role digitized data plays in maintaining this consistency.

more: six steps to creating a standardized practice | four ways automation pushes the paradigm shiftare you the key signal caller for your clients?value pricing requires defining your clientshow value pricing impacts your employees6 steps to start value pricingwhat are you selling?three critical factors drive the value pricing trendaccounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

your firm can standardize and price just like mcdonald’s does, if you have the right tech infrastructure, in addition to standards related to both clients and workflow.
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are you projecting confidence?

woman with ponytail reflected in window

you are your first client. what’s your first impression?

by martin bissett
business development on a budget

winning your first client is all about understanding why someone would buy from you before you ever speak to them, before you ever meet them, before you ever start the preparation for talking to them.

more: five questions to help forecast your firm growth | 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 | five questions for measuring partner potential | five ways to rally your firm to its culture
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

this discipline too often goes unexplained by most sales training programs offered to the accounting profession, but ultimately we have to be comfortable with who we are and the value that we offer.
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how many ev charging stations will we need?

governments, automakers and policy players agree: america has a charging problem. 

by rick richardson
technology this week

buyers curious about switching to electric vehicles have made it clear in survey after survey that charging freaks them out.

more: google launches new private space featuremicrosoft discovers a security flaw impacting android apps | what is an ai pc, and should i get one?fool’s gold may not be so foolish nowai-engineered enzyme could be solution to plastic pollution | german researchers develop ev motor with no rare-earth magnets | ai named the highest-paying in-demand tech skill for 2024
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

many drivers report that owning an electric vehicle is comparable to, if not better than, owning a gas-powered vehicle. however, filling up an electric car is different and may be inconvenient, depending on where you live. for this reason, even people interested in purchasing an electric vehicle may find it frightening.

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disruptors: cut 90% of your clients with dominique molina

we risk losing a generation of highly talented people if we continue to expect them to pay their dues and work long hours.

this is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members.

the disruptors
with liz farr

in 2006, dominique molina was overworked and burned out at her accounting firm. but instead of throwing in the towel, she drastically overhauled her firm: she pruned her client base from 300 to 30, focused on her expertise in tax planning, and shifted to value pricing.

more podcasts and videos: dawn brolin says grow your firm by shrinking itjason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill morekaren reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusionbill penczak: stop forcing smart people to do stupid worksandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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

that transformation was “beyond my wildest dreams,” molina says. “i never could have predicted the joy that i feel in my life, the satisfaction and fulfillment i feel from my work” by helping her clients with their own business transformations.

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overworked accountants are racking up financial errors

blame understaffing and overwork. and roll in the ai robots.

by 卡塔尔世界杯常规比赛时间 research

eighteen percent of accountants make financial errors at least daily, a third make at least a few financial errors every week, and 59 percent make several monthly errors, according to a new survey that blames “capacity” issues.

related: hiring experience vs. training inexperience | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | business model transformation: do it or die | whole person retention: when it’s not just the money | disruptors: nicole davis & jw davis show how to create your own pipeline | more in staffing & recruiting

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

is technology the best answer?

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exceptional audit client service demands effective communication

drop the devices and go talk with clients.

by alan anderson, cpa
transforming audit for the future

most firms have guidelines for turnaround time and response times but stop there when it comes to delivering excellent customer service. does your firm have a definition of what superior client service might mean in an audit?

more: deliver more audit value by getting out of the conference room | 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 | turning audit & accounting into assurance & advisory | stop sending the wrong message to audit teams
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

remember that relevance is the intersection of what your client wants, what you think is important and what the stakeholders need. providing superior client service is definitely contained within that intersection.

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when board service gets tricky

businesspeople having a meeting over coffee sitting together at a table discussing a document, young man and two middle-aged women present

keep the totality of the relationships in mind.

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

question: i am on the board of directors and am treasurer of a not-for-profit organization. one of the board members is an officer of a commercial bank where we have our accounts.

more: yes, you have to share work papers | hiring experience vs. training inexperience | a friendly chat or a billable discussion? | when selling a firm to staffers is tricky | courting a client? don’t give too much away for free | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

the organization wants to get a one-year cd with some excess funds they have. it turns out that the interest rate is less than half of what we could get from a local savings bank. i suggested that we open the cd in the savings bank and the bank officer got very agitated and threatened to cut off the bank’s support of the organization if we did not keep the funds in his bank.
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how firms are compensating their coos

bar chart

real-life examples. about 29% are owners.

by kristen rampe
rosenberg associates

more and more firms are exploring the benefits of adding a chief operating officer (coo) to their leadership ranks. the coo role often encompasses strategic cpa firm leadership, holding partners accountable, making decisions in line with the firm’s strategy and overseeing all administrative functions.

more: help! a partner wants to retire really early
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

this position can significantly reduce the time client service partners spend attending to these duties. and often the coo can do them better, as they aren’t distracted by the next fire drill from a high-profile accounting client. their only client is the firm.
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accounting arc: breaking barriers – how becky dupree’s love for data analytics and her identity shaped her professional path

“coming out was not an option at that time in public accounting.”

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: applegooglespotifyiheartdeezer, amazon music and audibleplayer fmaudacygaana (india), and boomplay (africa).
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accounting arc 
with donny shimamoto
center for accounting transformation

rebecca “becky” dupree, an experienced accountant and auditor, shares her compelling journey on the latest accounting arc, hosted by donny shimamoto, cpa.citp, cgma. with 17 years in public accounting and internal audit, dupree’s story highlights the diverse career paths in accounting and the importance of resilience and authenticity in navigating professional challenges.

more: accounting arc: forecasting finance & the 2034 accounting landscape | accounting arc: top 10 strategies for managing growth | accounting arc: busting the big 4 myth | accounting arc: exploring ai’s role in modern accounting | accounting arc: unraveling the collapse of silicon valley bank | on a mission: introducing accounting, reaction, comedy (arc) | harper & co. cpas: the perspective of a non-accountant is imperativemenlo innovations: improve office culture by overhauling internal reviews | dustin wheeler: for serious cas success, hire tech teams | chase birky: overcoming paralysis by analysis |

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

dupree’s career began in mercedes, texas, where she earned her degree in accounting from the university of texas rio grande valley, followed by an mba from sam houston state university. admitting she spent much time watching l.a. law, dupree says she initially aspired to be an attorney. however, her accounting talent led her to a fulfilling public accounting and internal audit career.

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steve yoss, quick tech talk: blockchain and regulatory compliance for tax, accounting, and finance professionals

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quick tech talk
with steve yoss
cpe today

blockchain technology, at its core, is all about record keeping. and if we think about accounting, accounting is just an agreed-upon set of principles for record-keeping gaap: generally accepted accounting principles. blockchain is a way to keep track of information, no different than how an accounting system keeps track of information.

click here for more steve yoss

it has some specific principles, such as immutability, meaning it can’t be modified or deleted once you create a record. it also has certain principles around transparency, such as anybody can examine a public transaction from a blockchain such as bitcoin, aetherium, and others.

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