ten tips for a healthier tax season (and life) | listicle
by 卡塔尔世界杯常规比赛时间 research
tax season isn’t just hectic. it’s unhealthy. it has to be done, of course, but make an effort to mitigate the mental and physical impact.
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today's features
becca johns: how rea cpas is pushing into advisory | capstone conversations
it’s time to challenge the cpa mindset.
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capstone conversations
with jean caragher
rea & associates is transitioning from a traditional cpa-centric model to a broader advisory role, aiming to offer services such as it consulting and wealth management. this will require major shifts in the firm’s internal mindset and culture, including redefining roles, retraining staff, and effectively communicating the new value proposition to clients.
full show notes here | more capstone conversations here | 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 |
a tall order, to be sure. but becca johns, director of practice growth, tells jean caragher in this episode of capstone conversations, “this is a good time to challenge the mindset of being a cpa firm.” read more →
how will private equity impact accounting careers?
pe may push dei for new talent.
by 卡塔尔世界杯常规比赛时间 research
private equity investment is creating a seismic shift in the accounting profession. leadership structures are getting overhauled. career paths are branching both up and out. investments are opening opportunities in services and clientele.
more: eleven questions about kids, wealth and the family business | 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?
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how will this impact the core of cpa firms?
good question. and the 2024 accounting move project has some answers.
read more →
ed warren: the difficult conversations to grow your business | accounting influencers
prune your existing portfolio to create a revenue pipeline.
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accounting influencers
with rob brown
ed warren, a veteran sales executive in the accounting industry, shares expert insights on growing accounting firms through client advisory services and leveraging technology to stay ahead of the competition in this episode of the accounting influencers podcast with host rob brown.
warren shares his insights on how the accounting industry has been affected by the covid-19 pandemic and what the future may hold for it. he believes that while the accounting firm space is in a good place given the circumstances, there is also a bit of complacency, as they have weathered the storm reasonably well. however, staffing is a huge issue right now, and the industry will have to figure out how to adjust to players with values different from those of the legacy partner.
where intuit is at with accountants
why vendors need to start with “why.”
by seth fineberg
unless you’ve been under a rock in the accounting profession, you know that intuit—makers of some of the most widely used tax and accounting products on the u.s. market—has caused quite a stir within the profession in recent weeks, making some wonder where they stand with the software giant.
more: history could help accountant-vendor relations | accounting needs a ‘rethink’ not a ‘rebrand’ | big change comes with deep reflection | three ways to raise the bar for your business
for quick review, a growing number of accountants that use of the company’s quickbooks online product have had to consider how to pass on rising costs of using the product, on top of where they stand with the company and its seemingly competing quickbooks live service. then, more recently, intuit began running national tv ads promoting its turbotax live service with the message of “break up with your accountant.”
four ingredients to your cas ‘why’
learn what will resonate with your prospects.
by hitendra patil
client accounting services: the definitive success guide
“why did i start my accounting firm/practice?”
if you are the owner of your firm, print this in a bold, big font and post it somewhere in such a way that you can see it, even if it is just in your peripheral vision, every moment when you are working at your desk.
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if you are a partner of the firm or an employee, print the following question to post it where you can see it all the time:
“why did i get into the accounting profession?”
read more →
mitch reno: client experience advantage goes to small firms | gear up for growth
“we have to…build something so special that people don’t want an alternative.”
gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间
for cpa firms to stand out, they must deliver an exceptional client experience—so unique that clients won’t want an alternative, mitch reno, director of client experience at rehmann, tells jean caragher in this episode of gear up for growth.
gear up for growth spotlights the best strategies for smart and effficient 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
“what any managing partner listening or any marketing leader or growth leader within an organization needs to be hearing is let’s look at what we do well,” says reno. “let’s look at where there’s an opportunity for us to do something better. and let’s do that better and differently than the rest of our peers that we compete against.”
training? cpe? they’re not the same
the three types of training needed and 21 best practices for providing it.
by marc rosenberg
cpa firm staff: managing your #1 asset
“training is everything. the peach was once a bitter almond; cauliflower is nothing but cabbage with an education.” – mark twain
more: six tips for setting compensation | staff crave advancement and challenge | what leadership looks and feels at cpa firms | eleven things that good mentors do | give the recognition your staff needs | the importance of great bosses | how remote work is impacting accounting firms | make work flexibility work for everyone | why staff leave cpa firms … and how to stop them | how to solve the big disconnect in talent management | what relevance means for staffing in accounting | how accounting staffing has changed
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we cringe when cpas use “training” and “cpe” synonymously.
- cpe coursework is often reactive, taken to maintain a cpa license. it may or may not educate. it may or may not be the type of education an individual needs. many cpas look upon cpe as a nuisance that is necessary to comply with professional regulations. the smaller the firm and the older the cpa, the more likely this is the case.
- training is primarily proactive, undertaken voluntarily to expand a person’s knowledge, performance and capabilities. the training aligns with what the person needs to do the job and provide value to the firm and its clients.
ideally, the training identified as needed also qualifies as cpe.
read more →
bissett bullet: why is the second meeting so important?
today’s bissett bullet: “never leave the first meeting without having the second one already scheduled.”
by martin bissett
i have talked extensively about securing the date of your second meeting with a potential client while still in the first meeting with them. failure to do so generally results in day-to-day life taking over and you slip down their list of priorities. a second meeting also guarantees you the opportunity to talk them through your proposal so always fend off requests to send it by email. there is also a third benefit.
knowing when you will be delivering your proposal, coupled with your judgment as to their level of interest in working with you, means that you are able to forecast when you may win their business and when you can expect your fees as a result. the ability to forecast allows you to plan for capacity and allows you to price in order to protect profitability.
today’s to-do:
set yourself a challenge. aim to leave your next three first meetings with a date in the diary for the second.
see more bissett bullets here
steve yoss: advanced excel formulas and functions for financial professionals | quick tech talks
streamline your workflow and save valuable time with excel’s power query.
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quick tech talk
with steve yoss
cpe today
whether you’re an accountant, business analyst, or anyone who deals with data, power query can revolutionize the way you work by automating and simplifying your data processes.
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more tech
power query can extract, transform, and load data from virtually any structured digital source. from accounting systems to apis, web data, and even pdfs, power query seamlessly connects excel to these sources, allowing you to pull information directly into your spreadsheets. imagine gathering data from various sources and having it all readily available in excel—without manual input.
growth and complacency must concern accounting firms this year
be proactive and intentional.
by tamera loerzel
the rosenberg national survey of cpa firm statistics
while i could list many trends, predictions and thoughts, i think there are two important considerations to pay attention to over the next 12 months:
- complacency continues to run rampant in some firms. growth has been good for most firms, which means profits have been good and partner compensation is at an all-time high for many, which gives a false sense of security.
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: solving staffing requires intention | 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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in addition, the noise from the m&a activity and private equity funding along with continued capacity and pipeline issues, velocity of emerging technologies, and other business model transformation needed, many leaders freeze with inaction. those who delay or stop investing in developing leaders; hr and other operational roles; ai, rpa or other technologies; and more will be left behind.
greg kyte: being a cpa is like being the marie kondo of numbers | accounting arc
find your unique voice in the profession, and don’t be afraid to innovate.
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accounting arc
with donny shimamoto.
center for accounting transformation
greg kyte defies every stereotype of the typical accountant. kyte, a licensed cpa and in-house accountant for a company managing medical office buildings, is also a stand-up comedian.
in a recent interview on accounting arc, hosted by donny shimamoto, cpa, citp, cgma, kyte discussed his unconventional journey and how he uses humor to engage audiences in the accounting field.
more accounting arc: rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know | leadership for the future: stakeholders, sustainability, and strategic vision | in-person conferences still essential | non-accountants in accounting: a game-changer for the profession | rubik yeriazarian: smaller firms offer big opportunities for rapid skill development in forensic accounting | accounting arc | ai will steal your job. and that’s a good thing | accounting arc | the right kind of lazy: innovative approaches to streamlining workflows | accounting arc
before entering accounting, kyte spent over a decade teaching middle school math. reflecting on the shift, kyte recalls, “after 10 years, i realized i wasn’t enjoying teaching anymore, and i knew it was time for a change.” driven by his longstanding interest in numbers and the promise of stability, kyte made the leap to accounting. “i had always loved math and organization, so accounting was a natural fit,” he adds.
kyte’s current role as an in-house cpa for a commercial real estate company involves a blend of accounting and property management, including overseeing financial operations, contract reviews, and even some maintenance oversight.
“i get to make up my title to fit whatever circumstance i’m in,” he says with a laugh. “if i want to flex on somebody, i’m the cfo. if i’d like to dodge responsibility, i’m an accounts payable clerk.”
rory henry: create the return on relationships | the disruptors
be a client-centric human in a world of ai and technology.
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the disruptors
with liz farr
rory henry asked himself, “why don’t financial advisors and cpas work together?” it boggled his mind because both work with the client’s finances but are not always in sync. “we’re advising them on their businesses, and then the wealth advisor takes over and manages the finances,” henry says. “but really, one decision affects another.”
more rory henry: the holistic guide to wealth management | more disruptors: mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business | nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius |
the ultra-wealthy have long used the family office model to bring a staff of cpas, attorneys, and advisors to provide governance, legacy planning, and intergenerational wealth planning. at arrowroot family office, henry is leveraging technology to bring the benefits of the family office model to everyone. “so it’s really integrating these solutions, using technology, using relationships, to really provide for the many needs of the business and the personal finances of your clients.”