client accounting services

blockchain: questions are the answer

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blockchain will find answers. but you need to know the right questions.

by hitendra patil
accountaneur: the entrepreneurial accountant

if blockchain were human, here’s what it would say to you: “dear accountant, your intelligence is far more powerful than my algorithmic intelligence. i can do the math, audit the authenticity of transactions incredibly faster than you can. but that’s not the point. the point is: i can provide you answers much faster than was ever possible. but only if you ask me great questions!”

more on entrepreneurial strategy:  the 7 experiences millennials want from your firm | is blockchain an extinction event for accountants? | is blockchain a cloud killer? | how to beat automation in accounting | 3 reasons small firms stay small | the new needs of people at accounting firms

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we are just about starting to see what pablo picasso saw way back in 1964 about “the enormous new mechanical brains” and “calculating machines.” they are “useless,” he said. “they can only give you answers.”

if the mechanical brains “can only give you answers,” it is imperative that someone asks those brains the right questions. that someone had better be you.

the entrepreneur’s questions read more →

the 7 experiences millennials want from your firm

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young businesswoman4 ways to motivate millennial staff … plus how to impress millennial clients.

by hitendra patil
accountaneur: the entrepreneurial accountant

“i never believed that millennials is an issue my firm needs to address.”

more on entrepreneurial strategy: is blockchain an extinction event for accountants? | is blockchain a cloud killer? | how to beat automation in accounting | 3 reasons small firms stay small | the new needs of people at accounting firms
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when the owner of a fast-growing firm that is 100 percent on the cloud expressed this to me, i was surprised. no, astonished.
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is blockchain an extinction event for accountants?

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blockchain illustration using train carsthe make or break question.

by hitendra patil
accountaneur: the entrepreneurial accountant

till today, “work” in the accounting profession involved creating and re-creating the accounting information and then making sense out of it.

more on entrepreneurial strategy: is blockchain a cloud killer? | 22 ways blockchain will impact the accounting profession | podcast: how to become a true ‘accountaneur’ | how job titles can rebrand your firm | forget cpe, you need an fpe | ‘uberizing’ means more than technology
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e.g., you take an invoice in a paper form – printed from the data already existing in someone else’s accounting software (private ledger) – and then you re-create the same data by converting (manual data-entry, ocr, etc.) that paper info into data again.
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is blockchain a cloud killer?

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computer monitors morph into chain linkswelcome to an accounting model that’s predictive and always on.

by hitendra patil
accountaneur: the entrepreneurial accountant

let’s talk about the technology behind blockchain.

more on entrepreneurial strategy: 22 ways blockchain will impact the accounting profession | blockchain accounting is an oncoming train | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth
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you have accessed information from the internet for quite a few years. now you have started accessing information on the cloud.
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22 ways blockchain will change the accounting profession forever

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illustration of network with city backgroundwill you be ready?

by hitendra patil
accountaneur: the entrepreneurial accountant

stock exchanges and banking systems have worked on similar fundamentals in handling and creating what are known as “non-repudiable” transaction records: straight-through processing (stp), electronically connected networks of intermediaries in their “ecosystem,” etc.  but unlike bitcoin, the stock exchange and banking systems are highly regulated and centrally owned.

more: blockchain accounting is an oncoming train | how to beat automation in accounting | 3 reasons small firms stay small | the new needs of people at accounting firms | 4 pillars of future firm foundation
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more recently, bitcoin technology has created a similar “distributed shared ledger” ecosystem.
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that oncoming train is blockchain accounting

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old steam train pulling into a tunnel belching steam and smokebut you can ride it to the new destiny of your practice.

by hitendra patil

warning: this is not fiction. this is not sci-fi.

more on entrepreneurial strategy:  is blockchain a cloud killer?  |  is blockchain an extinction event for accountants?  |  blockchain: questions are the answer | 22 ways blockchain will impact the accounting profession  |  how to beat automation in accounting | podcast: how to become a true ‘accountaneur’ | how job titles can rebrand your firm | forget cpe, you need an fpe | ‘uberizing’ means more than technology | new survey results: ‘decisiveness’ rated top trait for success in accounting business | the 5 most common marketing blunders accountants make | how the “1099 economy” will transform accounting | four signs the uberization of accounting has already begun
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when the best brains in the payments systems and regulatory organizations across the world sit and take serious note of the possible impact of blockchain on the entire financial sector, the accounting and tax profession cannot afford to ignore blockchain.
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how to beat automation in accounting

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classic drawing/puzzlefour frustrations … and which one to focus on.

by hitendra patil

do you see an old lady or a young lady or both?

more on entrepreneurial strategy: podcast: how to become a true ‘accountaneur’ | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars | you don’t think technology helps get new clients?
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according to brainbashers.com, this image appeared in a 1915 edition of the puck.
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how to fly the automation dragon to your dream practice

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the 11-step plan to winning the war against accounting “bots.” 

by hitendra patil
accountaneur

like a snowball rolling down a hill, the fear that automation and artificial intelligence will replace accountants with robots is rapidly gaining mass and momentum in the accounting profession.

more on entrepreneurial strategy:  3 reasons small firms stay small  | how job titles can rebrand your firm | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars | you don’t think technology helps get new clients? | tax season management: multi-tasking is a myth
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but accounting is one profession that has always adapted to technological and regulatory evolution over a long period. i am sure accountants will ride the new, so-called fire-spitting-jobs-guzzling automation dragon within no time.

but first, let’s think about the underground shift that will happen because of the automation in accounting. why will automation mean more business for accountants?

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forget value billing. focus on value building

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bhansali

finding new profits in client accounting services.

by chandra bhansali
ceo, accountantsworld

we have all heard a lot of buzz about value billing. it sounds like a great concept to boost a firm’s bottom line, but have you tried it. chances are you haven’t.

why not? because although it is a great theoretical concept, it’s too complex to implement.  and there are various reasons why it is hard to implement in accounting practices.

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3 reasons small firms stay small

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woman in home office looking at paperwork in front of computerplus 5 common situations. do you see yourself?

by hitendra patil
accountaneur

when firms want to grow but can’t, the problem is neither economy nor resources.

more on entrepreneurial strategy: how job titles can rebrand your firm | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars | you don’t think technology helps get new clients? | tax season management: multi-tasking is a myth
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  1. there are firms that do not want to grow. as long as it is by conscious, purposeful choice, it is a decision well respected.
  2. there are firms that believe that they cannot grow beyond what they have already achieved.
  3. then there are firms that want to grow but struggle to break the shackles of being where they are now.

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how job titles can rebrand your firm

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hitendra patil: "changing job titles to something more relevantly expressive can help rebrand your firm and even differentiate it competitively."new titles can attract more clients, talent and social visibility.

by hitendra patil
accountaneur

i read with interest ed mendlowitz’s recent post “what’s in a title?”

i wondered:

  1. why are the job titles in accounting firms what they are?
  2. how did they come into existence?
  3. what was the purpose of designing the job titles currently in vogue across the accounting profession?

more on entrepreneurial strategy: your clients hold a secret key to your practice growth | the new needs of people at accounting firms | 4 pillars of future firm foundation | do you want a practice … or a business? | 3 apps to automate business networking | re-learning the lingo of the accounting business
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most likely, it is industry practice that creates the sameness in job titles. ironically, management gurus tell us to differentiate, yet we resort to sameness!
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