10 ways to link compensation and strategy
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jim bourke on soc: new growth opportunities for cpas [video]
jim bourke, cpa.citp and a partner at new jersey-based withum cpas, explains the new range of opportunities in soc engagements for cyber-security.
bourke adds:
the content at this year’s flagg management show is a perfect example of the transformation of revenue streams at cpa firms today. in order to keep competitive and viable, today’s firms need to embrace the non-traditional, non-attest and non-tax services.
offerings in the areas of cyber security, soc1, soc2, soc3, the new soc for cybersecurity, business process outsourcing, cfo advisory services, merger and acquisition planning and implementation and assistance with collaborative, web-based accounting systems will be critical to ensuring a firm’s continued profitability.
you can’t hide from the fact that attest and tax continues to become commoditized. cpas are the trusted professionals and possess the kills necessary to offer many of these alternative services.
so think out of the box this year and come and hear some of the best thought leaders in the industry discuss these revenue generating opportunities for your practice.
how savvy cpas use benchmarking to make smarter business decisions
drilling into firm technology and operations provides a roadmap for strategic success
by rick telberg
every day in the united states, more than half of all accounting firm owners are thinking about a merger, an acquisition or both. m&a is now as routine to the day-to-day operations of running a tax and accounting practice as turning on the lights in the morning and taking out the garbage at night.
fortunately, the new accounting firm operations and technology survey by the research team of randy johnston and leslie garrett provides a one-of-a-kind roadmap for growth-minded professionals seeking the hard-boiled data essential to making smarter strategic decisions. with thousands of key metrics for firms of every size, you can compare your firm against similar firms. better yet: you can compare where your firm is today to where you want it to be tomorrow.
taking the technology walking tour
the best way to gather new and useful information for your practice.
by gail perry
cpapracticeadvisor.com
i have the honor of leading the technology walking tours at the show. by all means, i suggest you give it a try.
wear some comfy shoes because you’re going to be on your feet for a couple of hours. and, more importantly, get ready to dive into the conference’s exhibit hall without having that feeling of walking the midway at a carnival and trying to avoid the carnival barkers.
on a walking tour, you visit the booths of a group of pre-selected vendors, and listen to a brief presentation in a relaxed setting. there is a difference from the drive-by experience that you would get on your own. first, the vendor isn’t under any pressure to grab your attention in five seconds and keep you from walking away. you are a captive audience, and the presenter knows that, so the presentation can be more heartfelt, real-life experiences can be shared.
often you will have an opportunity to ask questions during a walking tour presentation, and you can do so feeling more like a student in a class than someone who’s worried about whether or not you’ll be able to keep your credit card in your pocket.
in the time that a walking tour presentation is being made, a brief rapport is built, forging the way for you to feel comfortable returning to the booth later. “i heard your presentation,” you can say, and the vendor will immediately know that the sales pitch can be skipped and you’re here for some real answers.
you get cpe credit for your time spent on the tour. and, you even get to take whatever free gizmo the vendor is offering without even having to feel guilty about doing so. you might even find that the best free stuff is in the presentation itself.
gail perry is a cpa and the editor-in-chief of cpa practice advisor magazine. she is also a well-known public speaker and is the author of more than 30 books (including mint.com for dummies and surviving financial downsizing: a practical guide to living well on less money). in addition, she maintains a small tax practice. gail is a graduate of indiana university where she earned her bachelor’s degree in journalism. after returning to school to study accounting at illinois state university, gail earned her cpa and worked for deloitte’s chicago office as a state and local tax specialist. she is a former tax columnist for the indianapolis star newspaper, has been an adjunct accounting professor, and was on staff for 10 years at the indiana cpa society as a computer applications instructor. gail was the publisher and editor-in-chief of accountingweb before joining the cpa practice advisor team.
global talent wars hit home for local firms
in the war for talent, “local” cpa firms face new threats from distant, bigger rivals – worldwide
by rick telberg
卡塔尔世界杯常规比赛时间
the traditional business model of the so-called “local” cpa firm is being challenged anew by the emergence of a single, unified coast-to-coast talent market that’s undermining the pay differences between big-city and small-town firms.
that’s bad news for traditional firms trying to control staffing costs. but great news for a new generation of top talent.
more on talent management: survey results: firms face staff turnover tsunami | global tax talent shortage mounting into ‘perfect storm’ | accountants without borders: tight talent pool drives salary increases nationwide | are you an ostrich or a giraffe? | your firm’s biggest assets walk out the door every day | so much to do and so little time: achieving success in the c-suite |
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the study shows that salaries are increasing faster than inflation throughout the american market, and they aren’t always limited by the local cost of living. the average salary for a tax professional in new york city, for example, has risen to $77,660 this year, up from $75,400 last year. importantly, the numbers ($77,660 this year, up from $75,400) are the same in des moines, iowa, where the cost of living is substantially lower – along with the pricing sensitivity of des moines clients. this augurs new pressures on billing rates and profitability across the nation.