david bergstein: traditional accounting firms face an onslaught from self-styled advisors, coaches, and business managers.
with steven sacks
the new fundamentals: practical guidance for today’s accounting firms
are you too generous with your writeoffs?
by bill penczak
clients need so much more than basic accounting & write-up.
with steven sacks
the new fundamentals
armed with the latest technologies, accountants can do more than ever – faster, better, and cheaper. but too many accountants are missing the biggest opportunity that technology creates, according to judy trepeck, long a leading figure in the profession.
more from steven sacks: bill reeb: new rules for the covid era | is your message open to interpretation? | effective communications in the age of covid | why proper communication is critical | how to create effective internal communications | how to select your firm’s board | trust is a key organizational ingredient | real influence vs. immediate gratification | fake it ‘til you make it: an ultimate goal? | 4 ways to boost job satisfaction | have you gauged your staff’s enthusiasm? | why knowledge maintenance is key
exclusively for pro members. log in here or 2022世界杯足球排名 today.
in her conversation with steven sacks, trepeck, currently senior vice president for customized training at the michigan state cpa society, outlines how cpas can go beyond basic accounting to provide more value-added services. it requires experience, talent, ambition, and, maybe most of all, intuition.
trepeck provides a framework for any accountant to add advisory services to their menu of offerings.
some of the key takeaways and the full transcript:
new research shows opportunities to boost revenues by up to 31%.
by 卡塔尔世界杯常规比赛时间
as cpas know better than anyone, these are turbulent times. whatever the situation was, it just changed. cpas know because they are at the center of it all — the calm, analytic eye at the center of hurricane upheaval.
more in covid trends in surveys & research: the forecast: partly gloomy, chance of doom | busy season benchmarks in free fall | say hello to the new 24-month busy season | covid drives new m&a trends | re-thinking today’s firm with five global leaders | the no. 1 reason accountants fail to build advisory practices
so consider for a moment the desperation of the businesses that are or could be your clients. they are suffering:
in other words, clients have more important things to do than keep track of financial matters.
and they’re willing to pay for the freedom to stick to their core business.
the trick…
tax season turns into ‘advisory season,’ and a whole new niche is born.
by 卡塔尔世界杯常规比赛时间 research
gabrielle luoma, long one of the profession’s leading innovators, says the future under covid-19 belongs to the quick and the smart, in this exclusive video interview with 卡塔尔世界杯常规比赛时间. firms will need to deploy new services to attract new clients who may have not realized that they needed a firm like yours but now do.
more covid conversations: the covid outlook with darren root and joel hughes: a long, slow climb back to recovery | steven sacks: covid crisis management | jean caragher: how to fight ‘fear’ and ‘insecurity’ | sarah dobek: learning how to operate in the new normal | august aquila: what comes next? | jody grunden: covid and client communications | andrew argue: on a mission | martin bissett: covid slams u.k. accountants, too | bill reeb: separating the winners and losers |
in this conversation, luoma talks about what’s going on in the business, what’s going on with tax season, and what the future holds for cpa firms and the clients of cpa firms.
speaking from her base in tucson, ariz., the ceo of mod ventures is bringing some of her dna to regional powerhouse beach fleischman through a joint venture.
we started by asking about “when it got real?”
she responds, “we truly are affected by the whole world. we have clients in new york. things changed for them rather quickly. and when they started changing, we started realizing, ‘oh, my goodness, we’re going to have to really buckle down.’ in arizona, we started seeing shutdowns mid-march. that’s when things really got real for us because then we started seeing that the businesses that we work with on a regular basis – we’re outsourced accounting, so we work with clients weekly, – we knew that we could be in trouble. we started working really hard on transitioning, and seeing what we needed to do to help our clients quickly.”
for pro members-only: get the transcript:
five essential elements for effective planning and budgeting.
by bill penczak
ah, summer is finally here: baseball is back (sort of). the weather is getting hotter (although because i live in texas it’s sometimes difficult to tell). the kids are looking forward to school (albeit more “in” school than “at”).
more: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | the three r’s for beating the corona crisis
exclusively for pro members. log in here or 2022世界杯足球排名 today.
and cpa firms are gearing up for partner retreats and 2022 strategic planning…
but most strategic plans are neither strategic nor plans. they are more likely to be a compilation of to-do lists and wishful thinking, as firms stumble through the planning process and return to their day jobs as soon as the planning session is complete, with most topics forgotten or relegated to the “we’ll look at that later” category.
the ultimate checklist for focusing on cash, communication, continuity – and accepting uncertainty.
卡塔尔世界杯常规比赛时间 business barometer
your best advice to colleagues and clients?
join the survey. get the results.
by 卡塔尔世界杯常规比赛时间 research
the toll of covid-19 on business will be an ongoing trauma. it ain’t gonna be over ’til it’s over, and that ain’t gonna be for a long, long time.
more on covid crisis management: how to inoculate your firm against covid competition | pro tax prep stalls to a crawl amid covid-extended season | covid kills 67,600 jobs in tax and accounting | client accounting services poised to surge in post-corona world | clients, revenues, profits – trending down, down, down | andrew argue is on a mission | 3 questions for determining your value | covid crushes rosey forecasts | the seven factors keeping accounting firms afloat amid covid-19 | feeling the pain? the biggest job losses by client sector |
see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage
to survive, tax and accounting practices are going to need to take precautionary and proactive measures to ensure their financial continuity. those measures must necessarily include guidance for clients to help them survive. because failing clients mean failing firms.
crisis management is a lot easier if it starts before the crisis hits. here are some steps that accountants can take for themselves and their clients, gleaned from the thousands of accountants and advisors we’ve been hearing from over the past several weeks. read more →
and the top five survival strategies, according to 卡塔尔世界杯常规比赛时间 research.
卡塔尔世界杯常规比赛时间 business barometer:
how accountants are managing:
join the survey. get the results.
by 卡塔尔世界杯常规比赛时间 research
under the historically unprecedented pressures of the covid-19 pandemic, u.s. accounting firms large and small are adapting as fast as they can—or rather, as fast as they must.
more: feeling the pain? the biggest job losses by client sector | tax season pivots to covid rescue season | how accountants are coping with covid-19 | survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]
卡塔尔世界杯常规比赛时间 is providing free access to some of our latest coronavirus crisis updates: start here for a guide to all our free coverage.
practitioners are striving, struggling, scrambling to do what they have always done, and on top of that, to learn what they never knew in order to serve clients as in ways they needed to before.
less than three months from when the first cases were reported, the pandemic has taken the lives of over 70,000 americans and is approaching 3,000 deaths a day. while the pandemic has been a shock to the economy, tax and accounting practices appear to be maneuvering through it better than many other businesses.
^ click to play video
you can already start to see which firms will survive, those that won’t, and why, says martin bissett in a video call with 卡塔尔世界杯常规比赛时间.
bill reeb, 2019-20 aicpa chairman, explains how today’s coronavirus crisis is transforming the profession – and the world – forever.
by 卡塔尔世界杯常规比赛时间
today’s coronavirus cataclysm is changing the ways cpas in both the public and the private sectors do business, revamping in a few traumatic days what would have taken five years, says bill reeb, the 2019-20 aicpa chair, in a video interview with 卡塔尔世界杯常规比赛时间.
卡塔尔世界杯常规比赛时间 is providing free access to our latest coronavirus crisis updates: start here for a guide to all our free coverage.
“it has already had an amazing effect,” reeb says. “we have fast-forwarded the technology by at least five years. the use of technology has skyrocketed. and people are starting to say, okay, we got to get people working at home, and we’ve found ways to communicate with each other during the day.” read more →
more accountants see their businesses weakening under competitive pressures.
the 卡塔尔世界杯常规比赛时间 busy season barometer:
today’s bonus question:
are you ready for covid-19 conditions?
join the survey. get the results.
by 卡塔尔世界杯常规比赛时间 research
competition among tax and accounting firms is clearly intensifying, according to new readings from the annual 卡塔尔世界杯常规比赛时间 busy season barometer. it’s a stark warning.
more on tax season 2020: what makes a good tax season client? | call the irs for answers? good luck! | do your clients feel important? | 5 small leaks to beware during tax season | 5 tax review keys | 4 reasons to push ahead with tax question research | one can’t-skip touch for tax season | 5 steps for tax season success | help tax clients help you | 3 steps to tax season happiness | 12 ways to have more fun this tax season | bill with the tax return, get paid faster
the 卡塔尔世界杯常规比赛时间 annual busy season barometer asks a lot of questions about how things are going at tax and accounting firms, and the results are always interesting for comparative purposes and, sometimes, advice from peers.
how small firms profits stack up against larger firms in profitability.
by charles hylan
rosenberg map survey
while being a large firm doesn’t guarantee higher profits, data published in the new rosenberg survey shows larger firms tend to be more profitable than smaller firms.
checklist: 18 steps to success.
by brannon poe
are you exploring the idea of starting your own cpa firm? or perhaps you are ready to re-invent the one you have? either way, we’ve gathered some of the key focus areas to help you create your plans for the future.
more by brannon poe: five keys to successfully selling a cpa firm | 10 questions to ask yourself before buying an accounting practice | five key decisions for your exit strategy | how to transfer a boomer-owned cpa practice to a millennial |
1. should you start your own cpa firm? this is a great place to start, don’t you think? not everyone is cut out to own their own business. starting a cpa firm takes a variety of different skills and talents.
in the meantime, here’s a short list of what’s needed to thrive: read more →