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will 2021 be your cash-flow year?

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your cas offering must include a cash-flow management component.

by hitendra patil
accountaneur: the entrepreneurial accountant

if 2020 put businesses in financial icu, 2021 will be a year of rehabilitation. before one gets there, the road to recovery is often long and arduous.

more: the technology stack you need for cas | top five cas killers and how to overcome them | 21 ways to adjust your practice in 2021 | how to become an outsourced/virtual cfo | the services that cas clients want | six reasons cas is king
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business owners who are masters of their craft are not necessarily the experts of accounting and financial management. that is your expertise, professional accountants.
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stop trying to get ‘back to normal’

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you’ll be missing opportunities if you do.

by art kuesel

the thirst for knowledge about how to manage and lead a firm in difficult times has gone through the roof, as has the focus from important to urgent. firms took a while to adjust to a fully remote work force, but many of the related challenges such as productivity and team development were met with creative and effective solutions.

more: pandemic lesson: innovate faster | more complex work = higher fees, right? | advisory services: real commitment or just talk? | 2021: you’ll never see ‘normal’ again | covid brought us more and better client communication
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it’s my opinion that several challenges have yet to be tackled, including managing 100 percent remote client engagements effectively, virtual business development and achieving a sustainable and less disruptive approach to “daily” life within the firm. everyone is dealing with so much change, and it is nearly impossible to plan long-term. we are still very much dealing with urgent issues daily, leaving important ones for another day.
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how to prosper in a pandemic

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crisis brings needed change and new opportunity.

by allan koltin

the most significant changes our profession have seen so far are remote workplaces and, not surprisingly, remote client service. i think the dust has settled at this point and firms understand that these are not flavors of the month, but rather permanent changes to the landscape of our profession.

more: pandemic lesson: innovate faster | remote work success helps solve staffing shortages | you like being remote, but what about your clients? | covid-19 shakes up m&a activity | survey: we adapted to remote work … now what?
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it’s fascinating that the covid pandemic was responsible for speeding up what otherwise would have taken 5-10 years into 5-10 weeks.
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what your auditors need in the field

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three partners, one male and two female, walking and smiling outside a buildingtwain compliance dictates some choices.

by roman h. kepczyk

the advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format. the key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally.

more: the value of firm procedures manuals | teach your clients to send info digitally | the 4 buckets of firm knowledge | internet bandwidth: how much is enough? | why you need windows 10 with automatic updates | laptops vs. desktops
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this includes

  • multiple monitors,
  • image capture equipment and
  • remote communications capabilities.

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the technology stack you need for cas

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5 key points in making your choices.

by hitendra patil
accountaneur: the entrepreneurial accountant

your firm’s current processes/procedures adapted to your current technology stack, or vice versa. trying to fit client accounting services into your existing technology stack may become a challenge for you – not just from a procedural point of view but also from a profitability point of view. if your current technology stack is still more of desktop software, it could be nearly impossible for you to offer cas as profitably as potentially possible with non-desktop solutions.

more: top five cas killers and how to overcome them | identifying the right clients for cas | cas is, first, a communication challenge | which of your existing clients are cas-fit? | the services that cas clients need | who’s afraid of client accounting services?
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cas does not need a technological transformation

before you start thinking, “oh gosh, this is going to be a hugely expensive technological overhaul of my firm,” stop. cas does need you to adapt to an optimal technology mix, but it does not mean you just throw away your current technology and bring in entirely new technology. cas does not need a technological transformation of your firm. depending upon your existing technology stack, it may only require some reorganization, integration and adjustment.
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