technology

james graham: drop the billable hour and you’ll bill more

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firm poised to double in size with cfo services.

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the disruptors
with liz farr

james graham’s firm, richtr financial studio, gave up the billable hour 10 or 15 years ago, and graham points to that choice as making the biggest difference in his firm.

more podcasts and videos: karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | 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 |

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he said it’s because “it really changes the nature of your relationship with the client” when the client is no longer looking at the clock with “that dollar per hour in the moment, always hanging over any interaction.” by removing the focus on time, “it allows everyone to move forward better because the focus is on running the business.”

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five ways to wow your clients

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chocolate chip cookies in white plate with red cup coffee

sometimes it truly is the thought that counts.

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

you don’t have to be the ritz-carlton or mercedes to provide your customer with a great experience.

just a little forethought and planning will make a huge difference.

more: six strategies to make more without working more | six ways to beat the competition | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | get your name in the news
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here are five tips for your consideration:

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how ai works in plain english

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check out these three reads to understand ai and how to leverage it for business.
 
by rick richardson
technology this week

science fiction author arthur c. clarke once said, “any sufficiently advanced technology is indistinguishable from magic.” yet artificial intelligence isn’t magic, and you don’t need to be a computer scientist to understand how chatgpt works.

more: new tech could let evs go 3,0000 miles on a single charge | major websites blocking content from ai crawlers | what is an heic file? | bill gates behind next-generation nuclear plant | electronic skin that can sense touch will transform robotics | four of today’s new technologies that will be tomorrow’s ‘norm’
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if it hasn’t already, ai will soon be present in your home and business. ideally, you should be ready.
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karen reyburn: fix your marketing and fix your business

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not more clients, better clients.

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the disruptors
with liz farr

karen reyburn wants accountants to stop thinking “about marketing as this one-off thing where you tick little boxes,” but instead about the ways you can use your marketing to connect to the human experience. her company, the profitable firm, or pf for short, has been helping accountants with their marketing since 2012.

more podcasts and videos: giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | 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 |

learn more

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her new book, the accountant marketer: the structured approach any accountant can follow to attract clients they love, provides a step-by-step process for understanding the unique characteristics of their firm and how to connect that uniqueness with their best clients.

in reyburn’s view, marketing is closely connected to the business. “if you have a marketing problem, you have a business problem. if you have a business problem, there’s often a marketing solution that can help with it.”

this book springs out of a pf coaching group called the accelerator, where participants were guided through a process of creating a structured approach to content marketing that made their marketing better. reyburn and pf take a collaborative approach to marketing. “we don’t do marketing for people,” she explained. “we do marketing with them.”

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major websites blocking content from ai crawlers

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amazon, quora and indeed are three major websites that prohibit chatgpt’s bot.

by rick richardson
technology this week

according to recent data from content detector originality.ai, nearly 20 percent of the top 1000 websites in the world are restricting crawler bots that collect web data for ai services.

more: what is an heic file? | ai + mri = diseases that doctors might miss | your boarding pass could onboard hackers | chatgpt passes cpa exam on second try | cyber insurance costs rise in health care as attacks soar | adobe announces “creator-friendly” generative ai tools
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big and small websites are taking matters into their own hands because there are no clear legal or regulatory guidelines limiting ai’s usage of intellectual information.

early in august, openai unveiled its gptbot crawler, claiming that the information obtained “might improve future models,” assuring that paywalled content will be omitted and providing instructions on how to block the crawler on websites. read more →

ai and the future of advisory

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or, ‘the real battlefield: ai’s inroads into value creation within accounting’

by ric payne

four university professors sat the 3.5 version of chatgpt for the cpa exam in may. and it failed. rather badly, it turns out! averaging a score of 53.1 across all sections.

however, it passed when the same researchers repeated the experiment on the upgraded chatgpt version 4.0 only a month later. rather impressively, actually.  with an average score of “the chatbot received an 87.5 in the part that rated highest, auditing and attestation (aud),” the researchers reported.

more on artificial intelligence: chris vanover: question the why or stay with the status quo | ai + mri = diseases that doctors might miss | the art of prompt engineering for accountants | staff need good pay and tlc | two words define your work future in the ai world | becky livingston launches “the b2b marketer’s guide to ai” | getting real: accounting tech decisions you need to make today | generative ai: should you avoid it or adopt it? | the disruptors: al anderson on the new manifesto for accountants | should accountancy account for sustainability? | firms rev up expansion plans | what an a.i.-powered workforce means for accountants | jody padar: build a practice that works for you, not vice-versa. | ai systems just for accounting in development | ai is not your enemy |

more 卡塔尔世界杯常规比赛时间 coverage here.

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this is a very interesting development for several reasons.

first, it’s amazing how quickly chatgpt has improved. i doubt a human, even a smart one, would achieve a 32 percentage point improvement in an examination score in just a few months. this performance improvement begs the question: are we looking at the likelihood of close to 100% shortly? read more →

rosenberg map: partner incomes surge 11.4%

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on revenue gains of 11.8%

by charles hylan
rosenberg map survey 

it’s been another amazing year for the accounting profession! but – it comes at a price. as we look at the firms in our survey with revenue greater than $2 million, income per partner was up 11.8%, and revenue was up 11.4%.

more in surveys & research: firms rev up expansion plans | overcoming the five hurdles to advisory services | research: accounting pros cautiously optimistic about generative ai | why compliance still matters. but it’s not enough. |  new businesses mean new business | how to transform your team into trusted advisors

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this is the second year in which profits grew faster than revenue.

this new revenue and additional profits are occurring amidst a severe staffing shortage, resulting in people being stretched to their limits.

so, how do we keep this going at less of a “price tag?”

doing nothing is not an option, and hope is not a strategy.

our profession is experiencing unprecedented pressure from the economy, staffing shortages, technology, and competition. read more →

what is an heic file?

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drop the jpgs for better storage capacity.

by rick richardson
technology this week

on all iphones and ipads, the default image format is heic. along with apple, heic files are supported by canon, sony, qualcomm and samsung.

more: ai + mri = diseases that doctors might miss | printer ink: not just expensive, but a blatant scam? | bill gates behind next-generation nuclear plant | your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’
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here is all the information you need about the heic file format.

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how to fight feeling overwhelmed

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overwhelmed businessman covered in sticky notes

five ways to turn a tough day into a great one.

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

the exact solution to managing your “overwhelm” level will depend on what the source of your overwhelm is. you can also be suffering from more than one source of overwhelm.

more: the art of prompt engineering for accountants | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | four ways small firms can beat large ones
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here are five tips to help you manage the most common sources of overwhelm.

1. find support.

is your overwhelm related to your packed schedule?
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the art of prompt engineering for accountants

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the latest skill you didn’t know you needed.

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

with the rise of artificial intelligence tools such as chatgpt, accounting professionals need to add a new skill to their toolbox: prompt engineering. but don’t worry, it doesn’t have much to do with engineering, and the learning curve is quite achievable for everyone. the best part is that the payoff can be game-changing.

more: what can chatgpt do for accounting professionals? | grow your revenue with three marketing strategies | you’re missing 60% of your revenue | calculate your business relationship ratios | make the most of cpe conferences | set bold new goals for the rest of the year | generative ai: should you avoid it or adopt it?
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prompt engineering delves into a world where numbers meet language. while it might sound like a far cry from balance sheets, ledgers and tax forms, it’s an easy concept to understand. let’s dig into the basics and benefits of prompt engineering for accounting professionals.
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printer ink: not just expensive, but a blatant scam?

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are you really sure how much ink you’re buying?
 
by rick richardson
technology this week

those incredibly cheap entry-level printers you find when sorting your options by “price lowest” can be very alluring if you’re in the market for a new inkjet printer. however, don’t assume it shows you’re getting a good deal.

more: bill gates behind next-generation nuclear plant | your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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just as a drug dealer can offer a cheap initial “sample” to get you hooked before raising the price on all subsequent transactions, printer manufacturers use a similar business strategy. they can easily make up any loss from the printer’s discounted sale by offering its ink cartridges for exorbitantly high prices. the printer firms then keep you on the hook for paying these outrageous ink rates for the duration of the printer, which is a very lucrative revenue stream for them.

let’s take a closer look …
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two words define your work future in the ai world

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the boundary you must cross to ensure future success.

by hitendra patil
rise of the aiccountants

imagine there is no artificial intelligence.

i know it is tough to imagine this, but for the next two minutes, just imagine there is no ai.

more: ai systems just for accounting in development | three ways a.i. will take shape in accounting | four ways to prepare for the ai era | seven ways ai could change accounting | who is better at accounting, ai or humans?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

how have you been working as an accounting professional without ai so far?
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you’re missing 60% of your revenue

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here are four ways to stop leaving that money on the table.

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

accounting firms have done a great job adopting paperless office technologies, the web and even cloud computing, so you may feel you have been doing all you can to streamline margins, become “client-centric,” as some consultants call it, and grow your practice. but i believe there is even more opportunity that very few, if any, in the accounting profession have fully identified or embraced.

more: calculate your business relationship ratios | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | get your name in the news | four ways small firms can beat large ones | why you need a link-in-bio tool
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i only bring this up because i believe most cpa firms are leaving about 60 percent of their potential revenue on the table (and i can prove it). worse, they are not sharing their badly needed financial expertise with more businesses that could be greatly helped, especially now.
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