steve yoss: transform financial data into actionable insights with power bi | quick tech talk
bring complex financial data to life with advanced visualization techniques.
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ten more topics for a tax pro blog or newsletter | listicle
brian hock: qualifications matter more than ever | accounting influencers
“it’s a five-year degree for accounting versus four years for finance, and finance graduates often earn more.”
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accounting influencers
with rob brown
brian hock, founder of hock international, argues that accounting certifications and qualifications are more important than ever in an era of automation and artificial intelligence.
hock says the rapid shift in accounting standards is spawning a host of new specialty skills, including data analytics, cybersecurity, and automation.
“when i took the cpa exam almost 30 years ago, it was paper-and-pencil,” hock recalls. “now, technology is embedded in every aspect of accounting.”
you need capable successors for a seamless transition
prepare now.
by jennifer wilson
as vince lombardi said, “contrary to the opinion of many people, leaders are not born. leaders are made, and they are made by effort and hard work.”
to experience a seamless transition as your leaders grow up, and then eventually out of your organization, identifying and developing your up-and-comers must become a core competence. without these critical abilities, there won’t be anyone to carry out the vision of your firm, serve your clients, or pay your retirement benefits and/or buyout. in this article, we’ll share ideas for developing leaders in your firm, identifying your partner potentials, and preparing them to step in and lead when the time comes.
more: generosity: the root of great leadership
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the first step is to make a cultural commitment to develop leadership skills in your people. some firms offer a leadership development program that allows people at various levels and in different roles, including administrators, to enroll in the program to enhance their ability to lead.
read more →
who does what in accounting firm management
what’s the difference between a coo and an fa?
by marc rosenberg
the rosenberg practice management library
“shooting the ball is not an equal opportunity act.” – pat riley, nba head coach
who is on a firm’s management team?
more by marc rosenberg
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of course, the answer varies from firm to firm and depends on its size. these are the most common members of a firm’s management team:
- managing partner – the firm’s ceo, not necessarily a full-time position
- executive committee or board
mark koziel: the future of the profession | gear up for growth
mark koziel calls for cpa firm transformation amid industry disruption.
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originally published in september 2024
gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间
mark koziel, newly appointed president and ceo of the association of international certified professional accountants (aicpa & cima), recently appeared on the gear up for growth podcast, reflecting on his tenure as ceo of allinial global and the challenges facing the accounting profession. koziel, who spent 14 years in leadership roles at aicpa before joining allinial global, emphasized the urgent need for firms to rethink their business models in response to industry shifts.
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in his conversation with host jean caragher, koziel outlined how external pressures, including hybrid workforces, private equity investment, and shifting talent expectations, are reshaping cpa firms. he argued that while the covid-19 pandemic accelerated these changes, the profession was already moving in this direction.
“firms were always capable of hiring talent beyond their geographic boundaries, but it took a pandemic for them to act on it,” koziel said. “we now have a hybrid profession that is adjusting to these realities.” read more →
amy cooper: new research unpacks key retention factors | know-how korner
study finds job embeddedness, not engagement, drives retention.
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know-how korner
with donny shimamoto
center for accounting transformation
a new study by dr. amy cooper, cpa, cfe, cgma, an assistant accounting professor and program director at university of alaska fairbanks, challenges conventional wisdom, revealing that job embeddedness—not engagement—is the key to keeping accountants in public firms.
more: donny shimamoto
“i assumed smaller firms would foster stronger embeddedness, but my research showed the opposite,” says dr. cooper. “larger firms offer more career mobility, specialization, and structured support, which increase long-term commitment.”
read more →
how to match your tech to your cas clients
and why it’s worthwhile.
by hitendra patil
client accounting services: the definitive success guide
client accounting services essentially requires an ability for your firm to be able to best serve the needs of all your clients. in other words, your firm’s technology stack, services, processes and pricing packages need to cater to businesses of different sizes, turnovers, as well as various levels of tech-savvyness of the business owners and their employees. in yet other words, your firm should have the ability to do part of the accounting work or all the work your clients offload to your firm.
more by hitendra patil
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in such cases, you want the technology stack to be as standardized as possible to avoid costly, error-prone and time-consuming need to deal with a variety of software. at the same time, when clients do part of the work, you must seek to implement collaborative technology on the cloud to eliminate duplication of data entry and mailing/emailing information back and forth between your firm and clients. this will, most likely, require you to convince your clients of the benefits of common, collaborative, cloud technology platform, and more likely than not, train the clients onto newer technologies. but the experience of hundreds of firms shows that the payoff far outweighs the cost of such efforts.
read more →
gaps galore at the irs
some of the fixes are simple.
by 卡塔尔世界杯常规比赛时间 research
the word “gap” occurs 28 times in the national taxpayers advocate’s 2024 annual report to congress. the report highlights a wide and crippling assortment of gaps in america’s favorite tax agency.
- a tax gap
- a salary gap
more: is voluntary disclosure of tax noncompliance working? | irs needs to work better with its workers | why itin applications get delayed | the ouches of the tax ‘practitioner’ scam | could the irs do better with the phones? | irs sluggish on identity theft | tax preparers share advice for your clients | check these 41 items on business tax returns | irs must speed up tax return processing | first tax filing reports are in | cut down your tax work in progress | more than 1 million erc claims still not processed
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- a tax pro oversight gap
- a hiring data gap
the time is now for value pricing
your clients will be happier … and so will your staff.
by jody padar
radical pricing – by the radical cpa
welcome to today.
value-based pricing and client-centric business models are no longer pie-in-the-sky concepts discussed in dark corners at accounting conventions. they have become accepted ways of doing business among a growing number of progressively minded firms.
more by jody padar
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perhaps you’ve already gone head to head with a firm pitching the value of their services rather than their hourly costs. perhaps you’ve grown concerned by rumblings among your staff for more pay and better work-life balance. perhaps you just want to ensure your firm is positioned for long-term growth.
read more →
remember these nine tax season resources
don’t take them for granted.
by ed mendlowitz
tax season opportunity guide
we have many resources and need to recognize that. and we need to treat each with its own importance. even if you did everything yourself, you’d still need to rely on your tax software company, fedex and the postal service, stationery supplier, computer consultant, the internet and email, cell phone provider and copier/scanner machine. and that’s just a few of the resources we rely on. managing your resources well creates an aura of security and consistency to your practice.
more by ed mendlowitz
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but there more. and they are often overlooked. or taken for granted. here are some more resources that need to be managed:
read more →
art werner: navigating the corp. transparency act | quick tax tip
the new responsibility for tax professionals is also a chance to grow your practice and billable hours.
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quick tax tip
with art werner
cpe today
as a tax professional, you are already well-versed in dealing with the complexities of the internal revenue service (irs). however, a new player in the compliance landscape requires your attention: fincen—the financial crimes enforcement network.
while fincen has long been responsible for monitoring financial activities related to money laundering, organized crime, and terrorism, a new regulation—the corporate transparency act (cta)—has expanded its reach. effective january 1, 2024, this law requires businesses to report beneficial ownership information (boi) to fincen, creating a new compliance responsibility for which tax professionals must be prepared.
tax pros handle 46% of e-filings
individual refunds are up 6 percent.
by beth bellor
busy season is rolling along pretty much as usual.
more: tax refund totals up 10% | tax refunds plummet, but no worries | tax refunds up 18% early on | first tax filing reports are in
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as of feb. 28, the latest data available, the internal revenue service had received 52.4 million individual income tax returns, down 3 percent from the same period in 2024. it had processed 51.8 million returns, down 2.7 percent.
read more →