salaries

bill penczak: stop forcing smart people to do stupid work

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challenge your people and keep the work interesting or risk losing them. 

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the disruptors
with liz farr

too many accounting firms have “smart people doing stupid work,” according to bill penczak, a veteran sales and marketing professional. the founder and chief insights officer for mica ventures said to think about the effort it takes to get an accounting degree and get your cpa, and contrast that with the years of mindless work that many new hires are required to do, especially if they go into audit, he said. “one of the reasons why there’s such a talent shortage is because the market has figured this out,” and no one wants to do that stupid work, penczak said.

more podcasts and videos: sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow | jody padar: build a practice that works for you, not vice-versa | ira rosenbloom: with m&a, nobody wants a fixer-upper | peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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besides making smart people do stupid work, penczak said many of the firms he works with are realizing that they need to do a better job with mentoring and career development, as well as simply having more conversations with their people.

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use organization charts to rewrite the future

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woman's hand drawing an organization chart

how do people view themselves?

by ed mendlowitz
77 ways to wow!

an effective way to review key staff is to have them separately draw up two organization charts to see how they view their role.

more: what clients don’t know about cost variances | why and how to track payroll costs | use constraints to make improvements | the role of strategy in pricing | wow clients with trend analysis | 26 ways to wreck a financial projection | three ways to run a break-even analysis | price not always the top consideration in a sale | when an owner dies without a buy-sell agreement | due diligence is in the details | manage better with the right financial tools
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the first chart is what they think their role is showing who they report to, who reports to them, lateral associates and support personnel. the second chart is what they would like it to be. rarely would the two be the same.
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tax and accounting pay advancing at 5.9% pace

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payroll services hours take some wild swings.

by beth bellor

what would help recruit more people to the accounting profession? how about that trusty standby, more money?

most accountants are bringing home more in hourly earnings, according to the latest available data.

more on jobs: what an a.i.-powered workforce means for accountants | new businesses mean new business | accounting jobs up 4% for year |

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for the accounting profession overall, hourly earnings hit a new high at $41.39, up 35 cents or 0.9 percent for the month and $2.32 or 5.9 percent for the year. staff earnings hit a new top mark at $31.76, up 20 cents or 0.6 percent for the month and $1.64 or 5.4 percent for the year.
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scott scarano: first, grow people. then firm growth can follow

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we need the machines to do as much of this as we can.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr

when scott scarano lost a few good people at his firm, he had an epiphany that he needed to change things. instead of continuing to grow for the sake of growth, he overhauled his management approach.

more podcasts and videos:  peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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

“and things are better now at the firm, because we’re not focused on growth,” but instead on “growing everybody,” including himself, scarano said. by building better habits and finding better ways to do things, his team is growing its bottom line, and a few of the people who left earlier have now returned. “that’s the growth i like to see.” read more →

how auditors can beat ai

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ignore the coming tsunami of change at your own peril.

by alan anderson, cpa
transforming audit for the future

instant download:
“the new manifesto for accountants.“

the other day, i picked up a college textbook on auditing from 2001.

more: the disruptors: re-inventing accounting with tyler anderson | the big issues in audit: frustration, inconsistency and technology | five ways to increase audit efficiency | early adopters gain an edge in audit | talent retention: five tips for an audit adjustment | six benefits of an internal audit | the ten financial controls that’ll make you a hero | five cash reports you can’t live without | when an audit is a great thing
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

even back then, that book listed these as “critical forces on the profession:”

  • increasing market saturation with relatively little opportunity for growth
  • perceptions that financial statement audits have become a commodity
  • price competition and continual pressure to reduce fees
  • cost pressures that have resulted in the reduction of time devoted to engagements
  • perceptions that the incidence and severity of alleged audit failures have increased

in the 20-plus years since that book was published, not much has changed. today many of the college students who learned auditing from that textbook are in leadership positions at audit firms. they were warned about what we were up against.

that we are still facing those same “critical forces,” which have only exacerbated since then, is an indicator of the ossified state of leadership in the audit profession.

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ai is not your enemy

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clients still need context, and that comes from you.

by penny breslin
it’s not just the numbers

in 1994, in a small hotel meeting room in colorado springs, 50 accounting firms were up in arms when the presenter mentioned quickbooks. they shouted angry comments: “quickbooks is destroying my business.” “they want to take my clients.” “they are giving people a false sense of security with their commercials that say, ‘if you can write a check, you can do quickbooks.’”

more: put back office support into action | make cybersecurity a client service option | start every engagement with an sla | get the most out of your client meeting | why you need standard naming conventions | how to develop internal procedures | proper workflow demands consistency
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the presenter was nervous and asked me what he was to do. i said i use quickbooks for your company, and i have no idea what i am doing, and i could use an accountant to teach me.
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chatgpt passes cpa exam on second try

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its average score was 85.1.

by rick richardson
technology this week

an improved and better-trained version of chatgpt took a simulated cpa test after an earlier failure and passed, similar to the roughly half of human applicants who fail on their first attempt. but does this trial suggest that chatgpt will soon compete for accounting positions?

more: smartwatch saves two lives | first e-road charges electric vehicles as they drive | stanford scientists 3d-print heart tissue | chatgpt unlikely to replace accountants | cancer vaccine available by 2030? | four of today’s new technologies that will be tomorrow’s ‘norm’ | chatgpt spurs competition in different ways | chatgpt: what it is. why you need to know.
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“this calls into question the ‘competitive advantage’ of the human accountant relative to the machine. to our knowledge, for the first time, ai has performed as well as most human accountants on a real-world accounting task. this raises important questions of how machines and accountants will work together in the future,” the study’s authors said.
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