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put financial statements to work for you

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young black woman with magnifying glass

don’t skip the notes, no matter how many pages there are.

by ed mendlowitz
77 ways to wow!

publicly traded companies are required to issue audited financial statements annually. there are seven parts of the statements that are briefly described here in the usual order they are presented:

more by ed mendlowitz
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1. report of independent registered public accounting firm. this provides their opinion that the financial statements were in conformity with u.s. generally accepted accounting principles (gaap); that the company maintained effective internal controls; that the audits were conducted in accordance with standards of the u.s. public company accounting oversight board (pcaob) and some other things and that their audits provided a reasonable basis for their opinion; and that the internal control may not prevent or detect fraud. this needs careful reading and understanding, as do all seven elements of the statement, but on some level, this type of report is the gold standard for public companies.
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how ‘productizing’ services benefits clients

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they can be delivered more promptly and consistently.

by jody padar
radical pricing – by the radical cpa

now that you have hopefully standardized your services, it’s time to look at productization. productization is the packaging of intangible services to make them feel tangible. you put everything you will do for a persona into an offering that resonates with them because it’s customized for them. it’s then clearly priced so the buyer knows what they get for their investment.

more by jody padar
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this is just as useful for your clients as it is for your staff. clients appreciate it because they know exactly what they’ll get and what to expect. staff appreciate it because, unlike in traditional firms where there are at least four different ways to get to the same deliverable, this model has one pathway for each deliverable and service product, making it both efficient and traceable.

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dillon: a sustainable, no-debt path to firm expansion | big 4 transparency

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acquisition isn’t assimilation—it’s alignment.

this is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by “it’s not just the numbers: how to move beyond the numbers and deliver real value for your clients.”
by penny breslin and damien greathead. see today’s special offer

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big 4 transparency
by dominic piscopo, cpa
for 卡塔尔世界杯常规比赛时间

on the latest episode of the big 4 transparency podcast, marcus dillon, founder and president of dillon business advisors, offers a rare behind-the-scenes look at the art of accounting firm acquisitions and what happens after the deal closes. having completed 15 m&a transactions, dillon has quietly built a hybrid growth model that blends strategic purchasing with equally strategic divestitures, helping him scale while staying lean and focused. 

more dominic piscopo

more m&a

dilon’s approach flips conventional acquisition thinking on its head. rather than simply absorbing the full book of business, dillon’s team audits each client against their firm’s service model and values, and often sells off the clients who don’t fit. “we apply the 80/20 rule early in the due diligence phase,” he explains. “twenty percent of the clients typically generate 80 percent of the revenue, and the rest are often where the frustration lies.” that filtering strategy, he says, allows for faster onboarding, better client service, and less internal chaos

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yoss: pdf freedom for free | quick tech talk

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free and powerful pdf tools are hiding in plain sight. here’s how to find them.

sponsored by 卡塔尔世界杯常规比赛时间 pro membership. get more! go pro!  – see today’s special offer

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quick tech talk
with steve yoss
cpe today

when you think about portable document format (pdf) files, there’s a good chance adobe acrobat comes to mind first.

more steve yoss here | more tech

but most people don’t realize that pdfs aren’t an adobe-owned format anymore—they’re an iso standard for digital paper. that means anyone can use, create, and manage them without paying for an adobe subscription. and the options go far beyond the familiar. whether you’re creating workpapers for clients, sharing contracts with staff, or archiving important documents, there’s an entire toolbox of pdf solutions—many of them free—that can get the job done just as well as premium software.

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considering a merger? be smart about it

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view from below of four people, each holding a jigsaw puzzle piece and matching it to the others

plus 10 tips for buyers.

by marc rosenberg
cpa firm mergers: your complete guide

“alone we can do so little but together we can do so much.” – helen keller

“when you look at a deal and its structure looks like an octopus or a spider, just don’t do it.” – timothy sloan cfo wells fargo

all businesses boost their top and bottom lines with mergers. it’s a common strategy for growth and strong performance.

more by marc rosenberg
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cpa firms largely failed to recognize this until the start of the century. today, firms clearly understand that mergers can and should be a major contributor to growth, profitability and success.
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grade prospects with these five questions

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pipeline in shape of a dollar sign

make sure you have a pipeline, not just a list.

by martin bissett
business development on a budget

so you’ve done all the work to get yourself composed and prepared to go out and generate new opportunities, find new business and new clients. now what? how will you know who to contact for the first step?

answer: your pipeline.

more by martin bissett
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many partners think they have a pipeline, but they don’t. what they actually have is just a list of prospects they’ve

  • met with,
  • would like to meet with or
  • have worked with in the past.

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gertrudes: how eos & “unreasonable hospitality” reshaped growthlab | the disruptors

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applying entrepreneurial principles and embracing a culture of extraordinary service, this finance firm is breaking the mold.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by “it’s not just the numbers: how to move beyond the numbers and deliver real value for your clients”
by penny breslin and damien greathead – see today’s special offer

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the disruptors
with liz farr

dan gertrudes doesn’t consider himself an accountant, though he admits, “i’m pretty good at it. i’ve taught it at brown university.” after more than a decade working in finance in large corporations, gertrudes began his journey as a firm owner via entrepreneurship through acquisition, or eta, when he bought a firm in 2014 from a retiring owner.  

卡塔尔世界杯常规比赛时间 celebrates:the 100th episode of the disruptors

more streaming: vilms: the power of people in a tech-driven world | dickerson: from diagnosis to disruption | kapilovich: treat people like people | martha yasso: from wall street to main street | jackie meyer: tax plans in 90 seconds? believe it  | erica goode: build a $200k firm in 15hrs/week | randy crabtree: live at the intersection of passion & skill |mcclelland and telka: women ready to rewrite the rules of accounting | jacob schroeder: ai won’t replace accountants—but it will reveal who’s replaceable | ditching corporate america: the bold story behind pbs accounting’s rapid rise | jean zick: happy team = happy clients | breslin & greathead: be a client advocate | dominic piscopo: clear pay=bargaining power | debbie kilsheimer: stop thinking small |

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gertrudes positions his firm, growthlab, as finance-as-a-service, which means his clients receive ongoing, highly scoped recurring work rather than project work. “we want to be an extension of your management team,” he explains. besides traditional bookkeeping, his firm provides the full spectrum of financial services: accounting, fp&a, tax, cfo services, and hr. in addition, he is also building strms as an ai automation agency.  

in contrast to many legacy firms, gertrudes operates his firm as a business. “they’re not businesses,” he says about traditional cpa firms. “there’s no engine… you need more than one engine to be a business.” 

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get partners to commit to a balanced scorecard

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hands pointing toward business documents on desk

don’t waste your strategic planning.

by domenick j. esposito
8 steps to great

when an initial draft of the strategic plan has been agreed to by your initial strategy think tank, the next step requires you to expand the process to all the partners. this can be a very painful process, but it is a healthy one that must take place. it creates buy-in and will clarify who is on the bus and who isn’t.

more by domenick j. esposito
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lots of good things happen in this phase of the strategic plan.  a number of your partners, who may be questioning if this firm is the firm that they want to be part of as they build their careers, will begin to see that your merely good firm is trying to transform itself into a mid-market sustainable brand.
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business-owner tax incentives you might be overlooking

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help entrepreneurial clients use government programs to lower tax bills while creating jobs and wealth.

by blake christian

as many cpas know, a wide variety of federal and state tax credits and other incentives are readily available but often overlooked by businesses and their tax advisors.

more: entity choice in light of estate and gift tax rules | 11 tax client questions for year-round billings
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while the vast majority of tax planning efforts are focused on the timing of taxable income and tax-deductible items (temporary or timing differences), there are literally hundreds of federal tax incentives (permanent differences) that encourage taxpayers to invest in certain equipment, hire certain types of employees, operate in certain regions or invest in certain industries. read more →

adjei: profit from irs representation | the concierge cpa

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from big four consulting to fema volunteerism, adjei blends problem-solving, purpose, and proactive planning.

this is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by “it’s not just the numbers: how to move beyond the numbers and deliver real value for your clients.”
by penny breslin and damien greathead. see today’s special offer

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the concierge cpa
with jackie meyer
for 卡塔尔世界杯常规比赛时间

when hurricane harvey submerged his first office, houston-based cpa and tax advisor brandon adjei could have stepped back. instead, he leaned in, volunteering for months at fema disaster relief centers, helping storm victims navigate irs issues so they could access life-saving grants and loans. that work, originally meant to be temporary, became a catalyst for building a broader tax practice that now spans the u.s. and international clients.

more jackie meyer

on the concierge cpa, host jackie meyer sits down with adjei to unpack a career that has been anything but linear. from starting at enron just before its collapse, to big four m&a consulting, to founding multiple firms, adjei’s journey is rooted in adaptability, relationship-building, and a deep commitment to client advocacy.

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why p.e. is winning the talent wars | accounting influencers

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pe-backed firms are luring top performers with faster promotions, equity stakes, and career paths that traditional firms rarely offer.

this is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by “it’s not just the numbers: how to move beyond the numbers and deliver real value for your clients.”
by penny breslin and damien greathead. see today’s special offer

accounting influencers
with rob brown

private equity’s influence on the accounting profession is shaking up more than firm valuations — it is rewriting the rules for attracting and retaining talent. a staggering 70% of top performers at traditional firms say they would move to a pe-backed competitor right now if given the chance, according to new industry insights.

and it’s not just about bigger paychecks. private equity firms have zeroed in on what motivates high performers — opportunity, impact, and accelerated growth — and are building career models to match.

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from services to experiences to transformations

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illustration of the progression of economic value

every client interaction is an opportunity.

by rory henry
the holistic guide to wealth management

in tracing the trajectory of economic evolution, each phase represents a profound transformation, often driven by technological advancements. for instance, the industrial revolution transformed the u.s. from an agrarian economy to a manufacturing economy that created tangible assets (i.e., finished goods) out of raw materials. in recent decades, the u.s. went through a digital revolution, moving us from a manufacturing economy to a service-based economy that produces intangible assets.

more: how behavioral finance works | manage change through a pact | marketing strategies for wealth management services | an accountant’s role in exit planning | trust and estate planning is for clients of all ages | help clients manage and embrace investment risk | tax advisory services: a pathway to greater financial freedom | leverage ai to grow and protect revenue: six steps | four ways to provide wealth management in your accounting practice | what multiples mean to accounting firms | how wealth management has evolved | why now is the time for cpas to embrace wealth management
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this shift was emblematic of a broader transition from making tangible goods to delivering intangible services. the service economy burgeoned, with a focus on delivering services, e.g., tax services, financial services and estate planning legal services.

now, we are in the midst of another paradigm shift. artificial intelligence (ai) is transforming us from a service economy to one based on providing the consumer with experiences and guiding them through life transformations. the ai era is not just about automating routine tasks, but fostering an environment in which we transcend traditional service delivery.
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