{"id":79965,"date":"2020-10-16t12:00:48","date_gmt":"2020-10-16t16:00:48","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=79965"},"modified":"2022-01-10t13:51:20","modified_gmt":"2022-01-10t18:51:20","slug":"what-cas-is-and-is-not","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/10\/16\/what-cas-is-and-is-not\/","title":{"rendered":"what cas is … and is not"},"content":{"rendered":"

\"unbalanced<\/a>five areas of impact.
\n<\/strong><\/p>\n

by hitendra patil<\/i><\/p>\n

client accounting services (cas) is the new revenue segment you cannot afford to miss.<\/p>\n

more:<\/b> how to develop the cas mindset<\/a> | the right mindset for client accounting services<\/a> | client accounting services: the definitive guide<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

if you are an accounting firm owner\/partner, you do not want to miss the emerging, growing, and profitable opportunities in client accounting services.
\n
\nbefore we get to why, to ensure that we are on the same page, let us agree on a description of what cas is.<\/p>\n

how is cas different than what i am doing now?<\/h3>\n

in a brief survey that i conducted, one of the most common questions i received from accountants (from firms of nearly all sizes) was: \u201chow is cas different than what i am doing now?\u201d<\/p>\n

this question may have been lingering in your mind too. and it is an important question that you can\u2019t just brush aside if you are indeed to lay the solid foundation of your cas practice. to know what cas is, you need to know what it is not.<\/p>\n

if you recall from the previous chapter, before the emergence of new technology \u2013 especially the internet, which gave birth to accounting software in the cloud \u2013 business owners used desktop accounting software as business software. accountants did not have an easy way to access that software installed at clients\u2019 offices. as a result, you mostly did after-the-fact, write-up work, i.e., after your clients made their business decisions and entered into business transactions. you, as an accountant, had little say in how business owners decided, even if you could have guided them to make better business decisions.<\/p>\n

it all changed over the last few years. now, with collaborative, real-time, online sharing of the same accounting software, you as an accountant can work with business owners not just after they make business decisions, but more so, while and even before they make those business decisions and undertake business transactions.<\/p>\n

cas: what is it not<\/h3>\n

in the past, you mostly worked in and on the past.<\/p>\n

it was mostly recordkeeping for compliance purposes and some advice to the business owners, for example, answering a typical question, \u201chow did i do in the last month\/quarter\/year?\u201d<\/p>\n

you could rarely guide your clients\u2019 business decisions in real time. you invariably fixed the errors in client books (because clients were not professional accountants to record transactions correctly). you prepared financial statements mostly from bank statements, credit card statements, check stubs, and some information from clients.<\/p>\n

you infrequently received any questions from clients about the financial statements you delivered. clients mostly wanted accountants\u2019 help to get their books \u201ctax-ready.\u201d \u201caccounting\u201d mainly was compliant recordkeeping.<\/p>\n

clients used, if at all, the accounting information to \u201d<\/em>\u201clearn some lessons (mostly from their business mistakes),\u201d not so much to make better business choices and decisions. accountants were, generally, not<\/strong> a must-have part of clients\u2019 business decision making.<\/p>\n

such accounting services are not<\/strong> cas. at best, they could form a small part of cas.<\/p>\n

cas: what it is<\/h3>\n

now, cas means you will work more in the present and for the future. part of the client accounting work can still be after the fact. that work does not disappear. it minimizes.<\/p>\n

cas makes accountants become part of the clients\u2019 business processes. it is like their in-house accounting department. the critical difference is you, the accountant, are a few (or a few hundred, even a few thousand) miles away from the location of the business. the vital difference, though, is now the client has the benefit of professional accounting, because of you.<\/p>\n

cas means clients follow your expert<\/strong> accounting processes. you lead \u201cclient accounting.\u201d<\/p>\n

types of services offered under cas<\/h3>\n

caution:<\/p>\n

after reading this post, you may feel:<\/p>\n