outlook & analysis

looking for fresh accounting grads? good luck

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line chart of degree trends

the pipeline is just a trickle.

join the new staffing survey.

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by 卡塔尔世界杯常规比赛时间 research

the american institute of cpas 2023 trends report on new graduation data has good news and bad.

which would you like first?

more: cpa biz is booming, but for how long? | survey respondents see exciting year coming up | survey: accountants economic outlook brightens | research: accounting pros cautiously optimistic about generative ai | why the u.s. must act now to protect our online privacy
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spoiler alert: even the good news is pretty bad.
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cpa biz is booming, but for how long?

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man's hand drawing upward arrow labeled "profit"

five reasons that growth in profit is outpacing growth in revenue.

by 卡塔尔世界杯常规比赛时间 research

the rosenberg 2023 practice management survey exults in the growth and profitability of cpa firms last year, but warning bells are flashing. how long can this keep up?

more: survey respondents see exciting year coming up | survey: accountants economic outlook brightens | research: accounting pros cautiously optimistic about generative ai
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the good news: firms with revenue greater than $2 million saw 2022 average income per partner soar 11.8 percent over the previous year, and revenue shot up 11.4 percent. this was the second year that profits grew faster than revenue.

yay, right?
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accountants bullish on the 2024 outlook

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bar chart

but big challenges loom.

by 卡塔尔世界杯常规比赛时间 research

click here to launch the survey. get the first look at the results.

no question about it: the 2023 tax season was a banner year. generally speaking, revenues were up, profits were up, no quarantines and the irs didn’t pop any surprises in the middle of it.

more: survey: accountants economic outlook brightens | tax pros are expanding and earning more | research: accounting pros cautiously optimistic about generative ai
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yes, it was also a tough year, with staff shortages increasing the workload on practitioners, but it was that extra work, unburdened with payroll costs, that led to higher profits.

so what’s up for next year?
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tax & accounting firms grow for 9th straight month

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line graph
overall accounting profession employment

 

bookkeeping is playing the tortoise game.

by beth bellor

bit by bit, the accounting profession is growing. despite a staffing shortage. despite an uncertain economy. despite everything, tax and accounting firms are steadily adding to headcounts.

more: tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
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as tax and accounting professionals begin planning for the year ahead, the 卡塔尔世界杯常规比赛时间 research team is fielding a new survey to check the pulse of the profession, detect emerging trends, and identify the best success strategies going into 2024.
join the survey. get the results.
click here to launch the 10-minute survey.

according to the latest data mined by 卡塔尔世界杯常规比赛时间 research, new highs were reached in september in employment overall, staff, cpa firm staff, bookkeeping, women overall and women in cpa firms. staff also hit a new mark for hourly earnings.

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is audit in crisis because of definitions?

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auditors, accountants and businesses need to agree on expectations and deliverables in audits.

by alan anderson
transforming audit for the future

instant download:
“the new manifesto for accountants.“

do the banks and investors get useful information from historical audited financials? in their book, “the end of accounting and the path forward for investors and managers,” baruch lev and feng gu researched the relationship between changes in stock prices and the dates that corporate financial reports were released.

more: three fundamental questions to ask in audit | how auditors can beat ai | 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
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in the 1950s and 1960s, roughly 90 percent of the market value of public companies could be directly attributed to the earnings and book value reported in their financials. by 2013, that percentage had dropped to just 50 percent. personally, i’m surprised it’s even that high. the historical financial statement does not serve the needs of the users of those statements.
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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 →

chris vanover: question the why or stay with the status quo

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challenge yourself to do things differently.

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).

see the disruptors

the disruptors
with liz farr

chris vanover is on a mission “to make accounting and auditing better.”

initially, auditclub helped firms mainly with quality control, but over time that grew into offering fractional support on a subscription basis to audit firms that can’t find the talent they need.

more podcasts and videos: jason deshayes: what we’re doing isn’t working | heather satterley: you’ve got to meet people where they are | 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 | 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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audit firms are challenged to plan a year or even a month out, so auditclub offers members weekly access. this weekly flexibility allows auditclub to take a concierge approach to help their member firms out a week at a time. plus, vanover may have the secret sauce to getting employees to perform at their optimum levels daily.

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‘uncharted’ economic outlook for accountants

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click to play

gustonomics’ liz wilke “bullish on a soft landing.”

by blake oliver

it’s been a wild ride that past 12 months with the regional banking crisis, the fed raising rates to the highest level in two decades, not to mention ai disrupting accounting and other professions, and the constant threat of recession.

more blake oliver: four simple game-changers to modernize your practice | why tax work yearns to be free

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if you’re wondering how to advise your clients with so many conflicting signals on the horizon, you’re not alone. to help make sense of it all, i spoke with liz wilke, chief economist at gusto, on an episode of the accounting podcast.

“honestly, i’m pretty bullish on a soft landing for the economy,” shared wilke. “if we have a recession, it will most likely be a mild one in the minus 1 percent to zero percent growth range. and i don’t think it’s coming till 2024 if it’s coming at all,” added wilke, host of the gustonomics podcast.

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staff need good pay and tlc

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table of responses

they’re scarce. here’s how to keep them happy.

by 卡塔尔世界杯常规比赛时间 research

it’s no news to the accounting industry that staff and professionals are hard to find and hard to keep from wandering off to some other firm.

more: survey: accountants economic outlook brightens | the 7 categories of cybersecurity solutions firms need | understanding the full cost of a data breach | research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai | why the u.s. must act now to protect our online privacy
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and the law of supply and demand hasn’t failed to rule, according to the global talent trends 2023 survey of the association of chartered certified accountants: scarce employees expect a good salary, good treatment and a chance to work outside the office.

identifying and dealing with these employees’ expectations is essential to a continuous and successful flow of business. the survey found five challenges to that flow.
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when live events fail

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how to do in-person conferences the right way.

by seth fineberg

some of you may know my views on the importance of live events in accounting. but now we’re witnessing a shift in why attendees go or need to go: human support.

more seth fineberg: getting real: accounting tech decisions you need to make today | accounting tech doesn’t have to be daunting | who’s in control? you? or your clients? |  time management rule #1 for accountants |  plan to go ‘live’ post tax season |  why vc is a bigger threat than ai  |   what does taking control of your firm mean? | accountants need each other more than ever | marchternity: just say ‘no’ | some thoughts on in-person events | so you think you know accountants? | what bogs down accountants

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sure, cpe, networking, and quality content are indeed a thing when it comes to considering the time and expense of attending an in-person event. but accountants these days need more. they need each other more than ever.

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why students opt for accounting (or don’t)

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bar charts

they share their ideas for changes.

by 卡塔尔世界杯常规比赛时间 research

are accountants a threatened species?

more in staffing & recruiting: tax and accounting pay advancing at 5.9% pace | which is better: a year of education or a year of experience? | 44 critical criteria for accounting staff performance evaluations | four ways to propel new cpas into growing your firm | mike whitmire: re-think your hiring and training practices | what new leaders want in ownership |

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extinction’s still a ways off, but the numbers of cpas are in serious decline. between 2010 and 2021, the number of people taking and passing the cpa licensing exam fell 36 percent, from more than 50,000 to about 32,000.
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