artificial intelligence

ai and the future of advisory

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or, ‘the real battlefield: ai’s inroads into value creation within accounting’

by ric payne

four university professors sat the 3.5 version of chatgpt for the cpa exam in may. and it failed. rather badly, it turns out! averaging a score of 53.1 across all sections.

however, it passed when the same researchers repeated the experiment on the upgraded chatgpt version 4.0 only a month later. rather impressively, actually.  with an average score of “the chatbot received an 87.5 in the part that rated highest, auditing and attestation (aud),” the researchers reported.

more on artificial intelligence: chris vanover: question the why or stay with the status quo | ai + mri = diseases that doctors might miss | the art of prompt engineering for accountants | staff need good pay and tlc | two words define your work future in the ai world | becky livingston launches “the b2b marketer’s guide to ai” | getting real: accounting tech decisions you need to make today | generative ai: should you avoid it or adopt it? | the disruptors: al anderson on the new manifesto for accountants | should accountancy account for sustainability? | firms rev up expansion plans | what an a.i.-powered workforce means for accountants | jody padar: build a practice that works for you, not vice-versa. | ai systems just for accounting in development | ai is not your enemy |

more 卡塔尔世界杯常规比赛时间 coverage here.

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this is a very interesting development for several reasons.

first, it’s amazing how quickly chatgpt has improved. i doubt a human, even a smart one, would achieve a 32 percentage point improvement in an examination score in just a few months. this performance improvement begs the question: are we looking at the likelihood of close to 100% shortly? read more →

rosenberg map: partner incomes surge 11.4%

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on revenue gains of 11.8%

by charles hylan
rosenberg map survey 

it’s been another amazing year for the accounting profession! but – it comes at a price. as we look at the firms in our survey with revenue greater than $2 million, income per partner was up 11.8%, and revenue was up 11.4%.

more in surveys & research: firms rev up expansion plans | overcoming the five hurdles to advisory services | research: accounting pros cautiously optimistic about generative ai | why compliance still matters. but it’s not enough. |  new businesses mean new business | how to transform your team into trusted advisors

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this is the second year in which profits grew faster than revenue.

this new revenue and additional profits are occurring amidst a severe staffing shortage, resulting in people being stretched to their limits.

so, how do we keep this going at less of a “price tag?”

doing nothing is not an option, and hope is not a strategy.

our profession is experiencing unprecedented pressure from the economy, staffing shortages, technology, and competition. read more →

what is an heic file?

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drop the jpgs for better storage capacity.

by rick richardson
technology this week

on all iphones and ipads, the default image format is heic. along with apple, heic files are supported by canon, sony, qualcomm and samsung.

more: ai + mri = diseases that doctors might miss | printer ink: not just expensive, but a blatant scam? | bill gates behind next-generation nuclear plant | your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’
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here is all the information you need about the heic file format.

read more →

how to fight feeling overwhelmed

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overwhelmed businessman covered in sticky notes

five ways to turn a tough day into a great one.

by sandi leyva
the complete guide to marketing for tax & accounting firms

the exact solution to managing your “overwhelm” level will depend on what the source of your overwhelm is. you can also be suffering from more than one source of overwhelm.

more: the art of prompt engineering for accountants | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | four ways small firms can beat large ones
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here are five tips to help you manage the most common sources of overwhelm.

1. find support.

is your overwhelm related to your packed schedule?
read more →

chris vanover: question the why or stay with the status quo

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challenge yourself to do things differently.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

see the disruptors

the disruptors
with liz farr

chris vanover is on a mission “to make accounting and auditing better.”

initially, auditclub helped firms mainly with quality control, but over time that grew into offering fractional support on a subscription basis to audit firms that can’t find the talent they need.

more podcasts and videos: jason deshayes: what we’re doing isn’t working | heather satterley: you’ve got to meet people where they are | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow | jody padar: build a practice that works for you, not vice-versa | ira rosenbloom: with m&a, nobody wants a fixer-upper | peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

audit firms are challenged to plan a year or even a month out, so auditclub offers members weekly access. this weekly flexibility allows auditclub to take a concierge approach to help their member firms out a week at a time. plus, vanover may have the secret sauce to getting employees to perform at their optimum levels daily.

read more →

ai + mri = diseases that doctors might miss

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could this patented ai algorithm predict metabolic abnormalities up to a half-decade in advance?

by rick richardson
technology this week

an artificial intelligence platform developed by a british health tech business can analyze mri data to look for early signs of sickness. the company’s strategy, which employs imaging biomarkers, promises better disease diagnosis and treatment decision-making.

more: printer ink: not just expensive, but a blatant scam? | bill gates behind next-generation nuclear plant | electronic skin that can sense touch will transform robotics | four of today’s new technologies that will be tomorrow’s ‘norm’ | solar sensors detect wildfires early, saving lives, money
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twinn health claims to be advancing longevity and preventive healthcare thanks to a $500 million venture capital fund from saudi aramco.
read more →

the art of prompt engineering for accountants

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the latest skill you didn’t know you needed.

by sandi leyva
the complete guide to marketing for tax & accounting firms

with the rise of artificial intelligence tools such as chatgpt, accounting professionals need to add a new skill to their toolbox: prompt engineering. but don’t worry, it doesn’t have much to do with engineering, and the learning curve is quite achievable for everyone. the best part is that the payoff can be game-changing.

more: what can chatgpt do for accounting professionals? | grow your revenue with three marketing strategies | you’re missing 60% of your revenue | calculate your business relationship ratios | make the most of cpe conferences | set bold new goals for the rest of the year | generative ai: should you avoid it or adopt it?
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prompt engineering delves into a world where numbers meet language. while it might sound like a far cry from balance sheets, ledgers and tax forms, it’s an easy concept to understand. let’s dig into the basics and benefits of prompt engineering for accounting professionals.
read more →

printer ink: not just expensive, but a blatant scam?

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are you really sure how much ink you’re buying?
 
by rick richardson
technology this week

those incredibly cheap entry-level printers you find when sorting your options by “price lowest” can be very alluring if you’re in the market for a new inkjet printer. however, don’t assume it shows you’re getting a good deal.

more: bill gates behind next-generation nuclear plant | your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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just as a drug dealer can offer a cheap initial “sample” to get you hooked before raising the price on all subsequent transactions, printer manufacturers use a similar business strategy. they can easily make up any loss from the printer’s discounted sale by offering its ink cartridges for exorbitantly high prices. the printer firms then keep you on the hook for paying these outrageous ink rates for the duration of the printer, which is a very lucrative revenue stream for them.

let’s take a closer look …
read more →

staff need good pay and tlc

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table of responses

they’re scarce. here’s how to keep them happy.

by 卡塔尔世界杯常规比赛时间 research

it’s no news to the accounting industry that staff and professionals are hard to find and hard to keep from wandering off to some other firm.

more: survey: accountants economic outlook brightens | the 7 categories of cybersecurity solutions firms need | understanding the full cost of a data breach | research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai | why the u.s. must act now to protect our online privacy
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and the law of supply and demand hasn’t failed to rule, according to the global talent trends 2023 survey of the association of chartered certified accountants: scarce employees expect a good salary, good treatment and a chance to work outside the office.

identifying and dealing with these employees’ expectations is essential to a continuous and successful flow of business. the survey found five challenges to that flow.
read more →

two words define your work future in the ai world

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the boundary you must cross to ensure future success.

by hitendra patil
rise of the aiccountants

imagine there is no artificial intelligence.

i know it is tough to imagine this, but for the next two minutes, just imagine there is no ai.

more: ai systems just for accounting in development | three ways a.i. will take shape in accounting | four ways to prepare for the ai era | seven ways ai could change accounting | who is better at accounting, ai or humans?
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how have you been working as an accounting professional without ai so far?
read more →

you’re missing 60% of your revenue

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here are four ways to stop leaving that money on the table.

by sandi leyva
the complete guide to marketing for tax & accounting firms

accounting firms have done a great job adopting paperless office technologies, the web and even cloud computing, so you may feel you have been doing all you can to streamline margins, become “client-centric,” as some consultants call it, and grow your practice. but i believe there is even more opportunity that very few, if any, in the accounting profession have fully identified or embraced.

more: calculate your business relationship ratios | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | get your name in the news | four ways small firms can beat large ones | why you need a link-in-bio tool
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i only bring this up because i believe most cpa firms are leaving about 60 percent of their potential revenue on the table (and i can prove it). worse, they are not sharing their badly needed financial expertise with more businesses that could be greatly helped, especially now.
read more →

bill gates behind next-generation nuclear plant

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the new plant could be in operation as early as 2029. 

by rick richardson
technology this week

even by wyoming standards, kemmerer is far away – it’s a 50-mile diversion from interstate 80.

more: your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it draws tourists who stop by to look for local fossils, even though its elevation is higher than its population. however, different types of fossils, or fossil fuels, produce the best jobs. three power plants are powered by a coal mine and gas wells, which together employ around 450 people. however, kemmerer officials see the writing on the wall with the declining use of fossil fuel and all the efforts to migrate to cleaner energy.
read more →

calculate your business relationship ratios

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two women standing, laughing, looking at laptop one is holding, other holds takeout coffee cup

is 3:1 good enough? it depends.

by sandi leyva
the complete guide to marketing for tax & accounting firms

here’s a quick exercise: choose any person in your work life or personal life. now think back to last few interactions you had with that person. recall what was said and classify your list into two groups.

more: what can chatgpt do for accounting professionals? | make the most of cpe conferences | beyond compliance: six tips for adding value | track six figures to test your marketing | when you don’t know what you don’t know | eight things to give new clients | put your linkedin profile to work | what’s in a (domain) name? plenty
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what interactions, comments and questions did you have with your chosen person that were negative? here are some examples of things that are in the “negative” group:
read more →