baby boomer retirements<\/li>\n<\/ul>\n
\nnote that none of these has anything to do with accountancy, the actual crunching of numbers. the business of a cpa firm is now in a swirling sea of change that cannot be ignored.<\/p>\n
consequently, every firm, large and small, has to face a myriad of questions, one of which is, “which questions need to be answered and which can be safely ignored?”<\/p>\n
some of the questions<\/strong><\/p>\nin addition to the survey\u2019s trove of numeric cpa firm management data are comments by the industry\u2019s top consultants, people whose job is to look beyond traditional accountancy to assess its trends and wider context.<\/p>\n
here are some of the questions and concerns they raise:<\/p>\n
1. should a given firm remain independent of outside investors?<\/strong><\/p>\nprivate equity companies are showing interest in cpa firms. is the potential leverage worth the loss of independence? what remains unknown in the unexplored world of business?<\/p>\n
2. should we consider merging up?<\/strong><\/p>\nthe reasons are many:<\/p>\n
\n- \n
\n- efficiencies of scale<\/li>\n
- lack of new partners<\/li>\n
- to make retirement possible<\/li>\n
- profitability<\/li>\n
- effectively acquire staff<\/li>\n
- access better technology<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
3. should we acquire another firm?<\/strong><\/p>\nit\u2019s a buyers\u2019 market. now\u2019s the time. but is it wise to buy another firm\u2019s problems?<\/p>\n
4. will today\u2019s booming business continue?<\/strong><\/p>\nthere are plenty of potential clients out there. many are willing to pay higher fees. many can\u2019t find an accountant. many want advisory services. but now long will this last?<\/p>\n
5. how do we balance growth and capacity?<\/strong><\/p>\noh, the irony! just as growth becomes most possible, capacity has never been more limited. tech\u2019s expensive. rules and regs are complicated. professionals are hard to find.<\/p>\n
6. how much should we invest in technology?<\/strong><\/p>\ntech isn\u2019t cheap, and it\u2019s always changing. when are the changes really improvement? can a firm afford to buy the latest? can it afford not to? and which tech\u2019s right for you \u2013 tech for accounting or tech for cas?<\/p>\n
7. is it time to go remote or to come back to the office?<\/strong><\/p>\nthe potentials of remote work range from reaching a vast new pool of talent to savings in office space. but what\u2019s lost along with the loss of in-person contact?<\/p>\n
8. should we expand into cas advisory services?<\/strong><\/p>\ncas is the trend. the potentials are huge, but it calls for a major shift in business strategy to consider new kinds of marketing, technology and personnel.<\/p>\n
9. what happens when we can\u2019t replace a partner?<\/strong><\/p>\nthe boomers are retiring. professionals are fleeing public accounting for the corporate sector. there\u2019s a reluctance to assume the responsibilities of a partner. what happens to a firm and its retirees if the firm becomes hampered or unviable because of lack of leadership?<\/p>\n
10. how can we retain talent?<\/strong><\/p>\ngiven the shallow talent pool out there, retention has never been more important. what do staff and pros want? more money? less work? better benefits? time off? flexible hours? work from home? cushy office? better cpe? fast track to partnership? picnics in the spring?<\/p>\n
11. how much can we stress personnel?<\/strong><\/p>\nstaff and professionals are being stretched to their limits. too little help. too many clients. so many changing regulations. so much tech to learn. and there are just so many hours in the day. something has to give.<\/p>\n
12. do we need a new business model?<\/strong><\/p>\nyour business model is probably the same as 20 years ago. but the business world isn\u2019t the same. it\u2019s time to do some thinking. if there\u2019s a holistic answer to all the above questions, it\u2019s in the creation of a new \u2013 radically new \u2013 business model.<\/p>\n
maybe you don\u2019t need a new business model and overhauled business strategy. but you do need to think about it.<\/p>\n","protected":false},"excerpt":{"rendered":"
the questions aren’t new, but the answers should direct your strategy.<\/strong><\/p>\nby 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n","protected":false},"author":17,"featured_media":104507,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2259,5,3120,3002,9,11],"tags":[],"class_list":["post-104505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-leadership","category-outlook","category-pro-member-exclusive","category-special","category-strategy","category-research"],"acf":[],"yoast_head":"\nthe 12 big questions for 2023 - 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