today's features

deliver more audit value by getting out of the conference room

create deeper audit relevance by diving into your client’s business … in the actual business.

by alan anderson, cpa
transforming audit for the future

once your team understands the critical role planning plays in creating a foundation for audits and how that enables your team to have the mental bandwidth to deliver relevance, it’s time to focus on other ways to develop a relevance culture in your firm.

more: know your three audit w’s | 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 | wanted: great audit mentors | closing the audit expectations gap
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at the planning stage, set out the expectation that everyone will add value to the audit by identifying areas where the client can improve. one way to do this is to assign each audit team member the task of interviewing someone outside of accounting who has something to do with their audit area. have your team members ask this person these five questions and write up a summary of what they learned:

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accounting arc: forecasting finance & the 2034 accounting landscape

be ready to embrace ai and blockchain innovations, the rise of boutique firms, and the surge of specialized credentials.

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

hosts byron patrick, cpa.citp, cgma; liz mason, cpa; and donny shimamoto, cpa.citp, cgma, explore the future of the accounting profession, making bold predictions about what the next decade holds. their conversation covers a wide range of topics, from technological advancements to diversity, equity, and inclusion, offering a comprehensive look at how accounting might evolve by 2034.

more: 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.

one of the central themes of the discussion is the rapid pace of technological change. patrick, vice president of client success at the b3 method institute, emphasizes that technology will continue to accelerate, fundamentally altering the landscape of accounting. “technology is not slowing down, it’s accelerating exponentially,” he says. “and 10 years from now, there is going to be even more need for integrity within the technology that we are using.”

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bill360 introduces a/r automation

saas-based platform rolls out of the early-adopter phase with jody padar’s new book, “radical pricing.”

bill360, an end-to-end accounts receivable (ar) automation app, is giving away free copies of jody padar’s new book, “radical pricing,” at the scaling new heights conference in orlando, fla.  the tampa, fla.-based company has built a roster of 7,000 users in small to medium-sized b2b companies since launching in august 2023 as a saas-based, ai-powered platform.

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bissett bullet: complacency breeds failure

today’s bissett bullet: low client attrition rates are not necessarily a barometer of great service.

by martin bissett

never allow your retention rate to lull you into a false sense of security. in truth, no one changes their accountants unless they need to, and very few feel that need because they are not often educated very well by competing firms as to the compelling reasons for change.

however, your clients are perpetually at risk from the advances of your proactive competitors, so minimize the liability with exceptional service. deliver more of whatever it is that they value the most about you rather than what you think your firm does well.

today’s to-do

ask the next 3 clients you speak to what it is they value the most about the service you offer. find out what exceptional service means to them. it may not be what you expect.

see more bissett bullets here

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staffing tops list of woes at cpa firms

the irs comes in second, says the aicpa pcps.

2024 pcps cpa firm top issues

via aicpa

finding qualified staff is the top issue for all categories of accounting firms except sole practitioners, according to a biennial survey by the american institute of cpas’ firm practice management section.

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loren fogelman: stop undercharging and start being client-centered

stop letting your business and career “suck the life out of you.”

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


the disruptors
with liz farr

loren fogelman is on a mission to help accountants and bookkeepers build businesses that “don’t suck the life out of you.” as fogelman says, “how much can you actually give up your personal life before it’s not sustainable any longer?”

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.

according to fogelman, a keynote speaker and one of america’s top-ranked business coaches for business success solution, “at least 57% of firm owners are undercharging for their services.” she encourages professionals to double or even triple their fees, which frees up time so they can provide client-centered services and “go back to the gym or spend more time with your family or take that much-needed vacation.”

the highly-sought business coach has several methods her clients use to earn more, work less, and have more quality time for themselves.

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four ways automation pushes the paradigm shift

everyone’s job is enhanced when you can automate wherever possible.

by jody padar
radical pricing – by the radical cpa

when you have three people in your firm, each doing things their own way, you won’t be able to standardize until you get them all on the same page. technology makes it easy to do that.

more: are 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 | stop looking for talent that does not exist | advisory work must be priced by value, not hours
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

technology is spurring innovation and driving automation – and that’s reshaping the future of accounting. automation is simply using technology to complete tasks that are typically done by humans, and it will help you standardize by providing:
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steve yoss, quick tech talk: a.i. automation tools for tax, accounting, and finance professionals

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quick tech talk
with steve yoss
cpe today

i’m a big proponent of artificial intelligence and automation. i think these tools are incredible for automating day-to-day tasks, making our lives simpler, faster, and easier, especially lower-value tasks that don’t need our time or focus on our resources.

click here for more steve yoss

in the hands of a professional who knows what they are looking at, these tools can do much of the pre-work and the pre-processing. however, it is up to us to ultimately know what we’re looking at to determine if the results are correct or incorrect. these tools can never assume responsibility or accountability for what they produce. in the same way, a self-driving car is not responsible for getting you from point a to point b; it is ultimately the person in the driver’s seat who assumes responsibility. as the financial professional, you’re in the driver’s seat, and you must ultimately be able to look at this information and interpret it for your client because they won’t trust the ai. they’re going to trust you. and so these tools can be incredibly helpful, but it’s up to you to know how to use them responsibly.

four key questions about leadership

businessman bursting through flames and fireworks

think of it as an upward spiral.

by martin bissett
passport to partnership

unhappy and difficult clients help our firms to improve our client management skills and present opportunities to refine our leadership skills.

more: four key questions about leadership | does client perception match your firm’s reality? | firm not thriving? five fixes | five questions for grading prospects | health, wealth, stealth: challenges on the path to partnership | don’t let recurring fees kill your practice | rate your personal purpose | five ways to make selling easier | six keys to getting a proposal accepted | tell the world your worth
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

it is tough for us to build a successful firm without difficult clients or internal personnel issues in order to provide learning experiences for us to build a robust and commercially successful infrastructure.
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microsoft discovers a security flaw impacting android apps

beware: malicious apps could smuggle in dangerous code masquerading as regular files.

by rick richardson
technology this week

a recent bleeping computer report claims that microsoft has discovered a severe security flaw that might impact many android apps. this vulnerability, dubbeddirty stream,poses a significant risk because it might allow someone to take control of apps and steal essential user data.

more: 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 magnetseducators can benefit from new generative ai courseai named the highest-paying in-demand tech skill for 2024 | ai generates revolutionary new battery design | breakthrough implant uses excess blood sugar to generate electricity | nuclear battery could keep your future phone running for 50 years | mit tests new ingestible vital signs sensor | study: solar will lead global energy by 2050
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

the ability for malicious android apps to change and abuse android’s content provider system is at the core of the dirty stream vulnerability. usually, this technology enables safe data transfer between several apps on a device. it incorporates security measures such as stringent data isolation, applying rights linked to certain uris (uniform resource identifiers), and careful file path validation to prevent unwanted access.

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know your three audit w’s

understanding all the nuances of the who, what, and when keeps your audit team on track. 

by alan anderson, cpa
transforming audit for the future

taking the time to lay out a detailed who, what, and when plan for all audit staff assigned to an engagement will help ensure that fieldwork is successfully completed. as firms had to develop remote auditing processes in the covid-19 era, many have already been deploying this.

more: planning lays the foundation of audit relevance | how do we drive relevance in audit? | before the audit: more than just planning | are you correctly identifying the relevance intersection? | lack of relevance drives audit commoditization | five crucial attributes for successful audit leadership | traditional audits don’t deserve premium billing | 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.

 

here are the details for understanding each of the three audit w’s to keep your audit process streamlined:

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are you throwing away profits?

$50 bills in a wastebasket

nine things to stop doing today.

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

a critical measure for accountants – whether they bill either by the hour or a fixed price – is the amount they bill clients each month. as anxious as many accountants are to raise their revenues, their daily activity often sabotages that goal with the same common billing mistakes.

more: want to close a deal? set a deadline | how mindset affects your marketing | how to use chatgpt to create images | how to leverage chatgpt during this crazy tax season | got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing | eight steps to getting started with ai: a guide for tax professionals | how to weather any economic storm | leverage your strengths to beat stress | you don’t have a time problem | are you crossing off your business bucket list? | three money leaks and how to plug them
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

here’s a checklist so you can compare your behavior with the list. i’ll give some tips on how to break the bad habit, and the rest will be up to you.

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accounting arc: busting the big 4 myth

the realities and opportunities beyond big 4 firms.

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

the latest episode of accounting arc, “busting the big 4 myth,” offers various perspectives on careers in accounting. 

more: 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.

hosts donny shimamoto, cpa, citp, cgma; byron patrick, cpa, citp, cgma; and liz mason, cpa, share their unique experiences, challenging the notion that success in accounting is synonymous with working for one of the big four firms. 

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