outlook & analysis

non-cpa “cpa” firms? really?

by

what the aicpa and nasba could learn from other professions.

by donny c. shimamoto, cpa.citp, cgma

i’ve been watching nasba and the aicpa communicate the need for a change to the requirements to be cpa. while their rationale may seem to make sense, i’m not sure i agree with their direction  – enabling more non-accountants to be cpas.

more donny shimamoto: what small and midsized firms can learn from pwc’s digital upskilling | what big data means to small firms | accountants: unleash your secret superpower | ready for non-cpa cpa firms? | accounting services aren’t what you think they are | learning from hurricanes harvey and irma

see complete coronavirus coverage here

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

when i think further about the bigger picture of the accounting profession, i believe the accounting profession needs to be more cohesive and inclusive – and perhaps that is the better course to pursue.

read more →

what smaller firms must do to become firms of the future

by

12 trends to consider.

by marc rosenberg
the rosenberg practice management library

it used to be common for practice management conference agendas to include a panel of luminaries – prominent consultants and rock star managing partners – to make predictions for the cpa industry. as an up-and-coming consultant (who was too new to be invited as a panelist), i saved several years of these predictions to see if, years later, the predictions came true.

more: when managing partners can’t | don’t let exiting partners double dip | how covid impacts partner retirements | covid-19: how your firm can respond | 8 ways comp systems get partners to do what the firm needs | buyers name 20 big merger turnoffs | why governing by partner ownership is bound to fail
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i was not surprised to find that only 10 percent of these predictions came true. (examples: the demise of small and midsized firms; outsourcing to become mainstream; tax law simplification.) i vowed then, as i continue to do today, to refuse invitations to make predictions.
read more →

cloudy forecasts call for rainmaking

by

have you assessed your clients’ needs, or just provided what they asked for?

the average monthly price paid for accounting services: clients who do not receive advisory services pay their firms an average of $1,108 a month. they’d be happy to pay $564 more.

by 卡塔尔世界杯常规比赛时间

rainmaker alert! the cloudy skies of 2020 show a good chance of precipitation.

more in surveys & research: covid impact: 17,500 tax & accounting jobs lost | cas: critical success factors for the covid age | clients want to pay you more (really!) | the forecast: partly gloomy, chance of doom | busy season benchmarks in free fall | say hello to the new 24-month busy season | accounting firms take billions in ppp payouts | the more monitors, the better | the top portable monitors for working from home

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

but praying for rain isn’t going to work. neither will a rain dance. the most effective action is often simply a matter of asking and offering.

a new survey of small and midsized businesses and their cpa firms finds that clients are generally willing to pay 50 percent or more for additional accounting-related advisory services … but only if their accounting firm offers them.

read more →

clients want to pay you more (really!)

by

new research shows opportunities to boost revenues by up to 31%.

what clients want: adding strategic advisory services to your tax prep and payroll bundle could increase fee income by more than 48 percent. (cpa.com)

by 卡塔尔世界杯常规比赛时间

as cpas know better than anyone, these are turbulent times. whatever the situation was, it just changed. cpas know because they are at the center of it all — the calm, analytic eye at the center of hurricane upheaval.

more in covid trends in surveys & research: the forecast: partly gloomy, chance of doom | busy season benchmarks in free fall | say hello to the new 24-month busy season | covid drives new m&a trends | re-thinking today’s firm with five global leaders | the no. 1 reason accountants fail to build advisory practices

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

so consider for a moment the desperation of the businesses that are or could be your clients. they are suffering:

  • the financial and logistical onslaught of the pandemic,
  • the ever-evolving rules on taxation,
  • the constant change in compliance,
  • the lack of time for issues not within their core business (accounting, for example),
  • the problems and insecurities of their own clients and customers, and
  • concerns about the future.

in other words, clients have more important things to do than keep track of financial matters.

and they’re willing to pay for the freedom to stick to their core business.

the trick…

read more →

covid drives new m&a trends

by

buyers find good deals as baby boomers head for the exits.

by joseph tarasco
accountants advisory group

as the economic recession and health concerns in our nation are at a pivotal point and closely linked in a “perfect storm,” strategy-oriented cpa firm leaders will take more of a holistic approach to manage and lead their firms.

more on m&a: m&a surges ahead despite covid crisis | new rules: covid shifts m&a landscape | merging in sellers: what you need to know | how to start (or re-start) your own accounting firm | five keys to successfully selling a cpa firm | mergers: what could go wrong? | 10 questions to ask yourself before buying an accounting practice

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

coming to terms with the recession and health risks, leaders must not only focus on the current and immediate issues affecting their firms but now they must also plan for the near and long-term future “new model.”

read more →