outlook & analysis

m&a looms large for 30% of firms

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most solos are happy as they are.

the accounting firm operations and technology survey

mergers and acquisitions for growth are on the minds of 30% of accounting firms, whether within the next year or further out. however, 56% have no such inclination and say a flat “no” to the prospect.

bar chart

more: today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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for some firms, of course, these activities are options to be acquired. medium firms (11-50) top that interest at 9.6%, while 5.1% of small firms and 3.1% of solos are investigating their options, in the table below.

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today’s top 3 tech problems: security, client onboarding and workflow

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process automation and tech strategy make the list.

the accounting firm operations and technology survey

security and risk management top the list of technology issues challenging accountants, but they’ve dropped over the past year. meanwhile, there’s growing concern over business process consistency and cost reduction.

bar chart

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firm size plays a role. the largest firms register uniform business processes and integration challenges as their roughest points, while those rank at the low end for solos, who fret more over security and risk management.

both ends call out application updates more than those in the middle, and training worries mid-size firms more than anyone else.

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accountants find new worlds of opportunity

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clients and firms are both looking.

by 卡塔尔世界杯常规比赛时间

as the accounting industry emerges from dark times, many practitioners are blinking in the light of new opportunities.

we’re in a different world now.

  1. many accountants are freed from central offices. (many clients, too.)
  2. many clients have gone out of business but moved on to start new businesses.
  3. new technologies are facilitating automation and the power of small firms.
  4. the business environment, more complex than ever, requires new services.
  5. turmoil at the irs is causing both frustration and opportunity.
  6. boomers in accounting are retiring faster than newbies are being born.
  7. those newbies have new career goals with less emphasis on income.
  8. cryptocurrencies are a new frontier in investment and finance.
  9. inflation is a significant factor that’s linked with rising revenue for firms and clients.
  10. congress is stagnated between progressives with big ideas and the retrogressive who want to turn back the clock.

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today’s top 3 problems: staffing, workflow and tech

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cybersecurity, competing for clients and lagging profits make the list.

recruiting and retention may lead the list of issues accountants are facing. but problems in managing workflow have almost doubled in the last year.

bar chart

and, while firms of all sizes share many of the same problems, there are stark differences through the spectrum of solo operators to the largest firms. for instance, about two-thirds of firms with 11 to 100 employees rate staffing as their chief concern, but larger firms aren’t having nearly as much trouble. the mid-size firms are leading in solving the workflow dilemmas, while the largest and smallest firms at opposite ends of the spectrum are having considerably more trouble.

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trend? or just hype? accountants weigh in

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//m.g005e.com/2021/07/30/how-to-embrace-the-blended-future/the real tech trends on worthy topics, according to your colleagues.

by 卡塔尔世界杯常规比赛时间 research

ever alert for what’s coming down the pike, the 卡塔尔世界杯常规比赛时间 business barometer is looking for early omens of future trends. our readers across the continent know what’s happening.

they also know what only seems to be happening.

this year we’re asking where the opportunities are, what the challenges are and, significantly, what the most overhyped trends, technologies and topics are.

in other words, what’s the next wave on the way, and what’s just a bubble in a turbulent sea?

the answers on the overhyped are interesting.

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four strategies for a future-ready firm

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young businessman walking on bungee cord between question mark and dollar signembrace these to ensure you remain relevant.

by donny c. shimamoto
the center for accounting transformation

a recent article from harvard business review, “what makes a company future-ready?”, shared insights from multiple industries in looking at which companies adapted and thrived versus those that didn’t perform as well.

related: the changes ahead for corporate finance | top issues for 2022: talent, time, and transformation

learn more about the center’s audit advisory board or view the center’s transformation courses.

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as i read through the article, i couldn’t help but think, “how would these insights apply to accounting firms and the future of accounting?” read more →

the big battles ahead for corporate finance

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advisory board members say it’s happening “whether a cfo chooses to do it or not.”

by the center for accounting transformation
improvetheworld.net

according to a group of corporate finance professionals, one of the most significant issues facing corporate finance teams is refocusing team members toward higher-value work such as interpreting data and advising on issues and solutions rather than allowing them to continue performing rote, manual tasks.

related:  top issues for 2022: talent, time, and transformation

learn more about the center’s audit advisory board or view the center’s transformation courses.

“the biggest risk that is clear to me is to continue the antiquated and outdated people strategies, performance, process, understanding, lagging platform adoption, and not understanding the deep relationships that we need to build instead of keeping the status quo,” offered chris ortega, ceo of fresh fp&a. “to me, that is 100% the biggest risk that we now face in the accounting and finance  space.”

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blake oliver: why tax work yearns to be free

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disruptors: the business model isn’t broken yet, but the pyramid scheme is crumbling.

follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.

with liz farr for 卡塔尔世界杯常规比赛时间

the accounting firm is a pyramid scheme destined for collapse, according to podcaster and enfant terrible blake oliver in this exclusive interview with liz farr for 卡塔尔世界杯常规比赛时间.

more disruptors: private equity explodes in u.k. | brannon poe: the status quo must go  |  accounting nerds, unlock your super powers  | private equity vs. the cpa firm partnership the fintech flood: accounting will never be the same  |  think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt  |  can geraldine carter save accountants from themselves? |  re-inventing accounting with tyler anderson |  turning client service into new revenue

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

in this exclusive interview with liz farr for 卡塔尔世界杯常规比赛时间, oliver says the system is simple and simply devious: bring in staff, work them a ton of hours, and the profits flow to the top, blake says.

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how auditors can improve efficiency and the budget

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innovation insights: five clicks in five minutes? sounds too good to be true – but automation can be simple and life-changing.

^ stream the video | or download the podcast

innovation insights
with donny shimamoto
卡塔尔世界杯常规比赛时间 presents a center for accounting transformation production

(recorded february 2022)

with everyone going remote, it’s presenting auditors with new challenges. but technology can help, according to colleen knuff and stefan davis, in this interview with donny shimamoto.

part of wolters kluwer, which was recently accepted to the asc x9 (american national standards institute or ansi), the industry setting body for financial institutions, knuff and davis explain not only how some solutions allow real-time collaboration versus working in silos, but also how data-driven audits increase capacity and allow more profitability while reducing risk and maintaining high peer-review standards.

center for accounting transformation
innovation insights is a center for accounting transformation production, presented by 卡塔尔世界杯常规比赛时间.

more:  2022年世界杯抽签 | 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  | private equity vs. the cpa firm partnership the fintech flood: accounting will never be the same  |  think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt  |  can geraldine carter save accountants from themselves? |  re-inventing accounting with tyler anderson |  turning client service into new revenue

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

knuff and davis also discussed how recently-developed tools can assist with diagnostics and help auditors stay on track while delivering more compliant and dynamic audits, which could better assess risk. the multiple-year views and periodic annual views versus the year-end financials give better business insights and make it easier to spot various trends and identify business performance factors. read more →

what gig workers want

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and what they need opens new opportunities for accountants and accounting tech.

by 卡塔尔世界杯常规比赛时间

one of the most radical and ramifying shifts in employment economics of the past several decades is the advent of gig workers—the millions of americans working out of their garages, attics, closets and breakfast nooks.

and all of them have unique accounting needs.

accounting firms need them. and venture-backed software startups are chasing them. read more →

accountants agree: the top five ways to fix the irs

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the united states of frustration: schaffer, zulager, toye, devine. (word cloud: 卡塔尔世界杯常规比赛时间 research)

some suggestions: burn it down and start over. abolish the income tax altogether. privatize it.

by 卡塔尔世界杯常规比赛时间 research

if the 卡塔尔世界杯常规比赛时间 busy season barometer were a thermometer, it would be popping its mercury with responses to “how would you fix the irs?”

see: irs tops list of busy season problems

we’re getting a lot of comments, many of them scorchingly hot. accountants and tax preparers are not happy with the government agency that their profession depends on more than any other.

more busy season ’22: survey: big worries for u.s. and small business  |  working harder for every dollar  |  for a few: why busy season 2022 beats 2021 |  can the r&d tax credit be used to offset the amt?  |  21 reasons tax clients fire accountants  |  unhappy about tax season?  |  individual tax refunds up 13%  | shut down the tax charlatans   | eight quick, easy ways to fix irs filing   |  a tax season worse than 2021?  |  16 traits of the best tax clients  | irs under covid: heroes or goats?

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

the top five most common recommendations:
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brannon poe: the status quo must go

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follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.

the disruptors: brannon poe
with liz farr for 卡塔尔世界杯常规比赛时间

brannon poe is the founder of poe group advisors and the creator of accounting practice academy. he began facilitating successful accounting practice transitions in 2003. today he is pioneering a consulting-based approach to transitioning accounting firms, culminating in poe group advisors’ proprietary process for a “seamless “succession.”

in this episode, poe tells 卡塔尔世界杯常规比赛时间:

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