accounting needs a ‘rethink’ not a ‘rebrand’

two women talking while seated at a table

your value is in the knowledge you have and the relationships and trust you’ve built.

by seth fineberg
at large

the field of accounting, and being an accountant, is challenged on many sides – none more so than the very act of being an accountant. in short, given the demand for new services and the growth in automation for nearly all “tasks,” what does accounting or being an accountant mean anymore?

more: big change comes with deep reflection | three ways to raise the bar for your business | randy crabtree: stress management for overworked accountants | tax chat: eric green reveals the tax rep guide to tax season  | it’s time to do the uncomfortable  | three ways to improve next tax season  | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously?
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let’s be clear: accounting’s literal and metaphorical face is, and needs to be, changing if it is to grow and thrive. this, however, isn’t necessarily a bad thing. but, as we well know, change is not easy or quick. what should encourage accounting professionals is that at this very moment in time, they have the ability to have a say in what accounting, and being an accountant, actually is and could be.
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trump trial: a case study in accounting?

could some good accountants have spared the nation its hush money trauma?

by 卡塔尔世界杯常规比赛时间 research
analysis and commentary

the donald trump case involving hush money payments indeed centered around accounting practices and the legal implications of how these transactions were recorded. the payments in question, made to silence allegations of extramarital affairs, were scrutinized for potential violations of campaign finance laws and business records.

a 卡塔尔世界杯常规比赛时间 analysis of generally accepted practices and the professional literature demonstrates the grave lapses that led to felony convictions and the essential role good accountants and honest accounting must play in the executive suite.

the lessons – and risks – for accountants are painfully clear.

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to replenish the talent pipeline, go back to the classroom

woman lecturing on business

maybe we should front-load the coolest parts of our profession.

by 卡塔尔世界杯常规比赛时间 research

if you’re wondering why it’s so hard to find and hire qualified accounting professionals, think back to your college days … your first class in accounting, probably something like “principles of accounting.”

obviously you, a future accountant, passed the course, and apparently you found it interesting.

more: beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | whole person retention: when it’s not just the money | seven enticements to keep talent on board | disruptors: talent crisis? what talent crisis? | seven steps to a stronger future | auditing standards ‘yellow book’ updated | compensation’s up, but up enough to retain staff? | cpas needed to help small biz adopt ai
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but that puts you in a minority of students with an interest in business. according to a survey from the center for audit quality, 32 percent of students who chose not to major in accounting said lack of interest or passion was the main reason, and 70 percent said it was at least part of the reason.

no surprise, then, that only one in eight graduates in business areas major in accounting. and that’s down from one in seven in 2016.
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beware the work-life/workload doom spiral

man on spiral staircase

five strategies for keeping your firm out of it.

by 卡塔尔世界杯常规比赛时间 research

is your firm in a doom spiral?

more: business model transformation: do it or die | misperceptions, corrections, accountancy and lemonade | whole person retention: when it’s not just the money | global trends show many dissatisfied cpas | more big firms shut their doors to new college grads | seven enticements to keep talent on board | employee retention is easier than attraction | let interns fix the staffing shortage? | disruptors: talent crisis? what talent crisis? | three ways to raise the bar for your business | accountants’ advice: be careful, quick, creative … and lean
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

here’s what it looks like:

  1. a cpa quits or retires.
  2. the firm can’t attract a replacement.
  3. the firmwide workload remains constant.
  4. increased workloads get redistributed.
  5. a cpa quits because of stress.
  6. workloads increase again.
  7. someone else quits. no one gets hired.
  8. the firm turns away clients.
  9. revenue drops. salaries stagnate.
  10. uncompetitive salaries hinder hiring.
  11. a cpa quits or retires.
  12. repeat.

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