today's features

put financial statements to work for you

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

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

acquisition isn’t assimilation—it’s alignment.

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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

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

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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

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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