outlook & analysis

the 3 hallmarks of the ‘new accounting’ business

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news flash – the business model has changed.

by gale crosley
crosley+co.

when we think of innovation we typically think of a new product or service – something that didn’t exist yesterday that will make tomorrow better. innovative offerings are essential to the portfolio of any growth-minded cpa firm.

more from crosley: the three elements of growth strategy [video] | defining the new business model [video] | the new growth evolution [video] | at the best firms, growth is no accident | jody padar’s new vision for the ‘new accounting’ | reality check: achieving world-class growth requires real-world intelligence | no shortcuts to sustainable growth | expand your vision and expand your business | leveraging leadership: a new way of looking at growth | are you creating a sustainable firm? | don’t confuse marketing with a true growth strategy  | overcoming four imaginary barriers that limit cpa firm growth | how firms unleash the power of diamonds, cash cows and fat cats | how smart firms use market research | got leads? get real. learn how to qualify big opportunities | it’s a new generation in lead generation | four keys to success at seiler cpas | how accounting firms are re-building their sales pipelines | how to get started on ifrs in one easy step | 9 big ideas for turbulent times

however, long-term sustainable growth requires a far more comprehensive innovation in your growth model, the strategic blueprint that helps you get from point a to point b.

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can accounting firms lead with work-life vision?

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and 5 practical ideas to implement measures to create real work-life balance at your firm.

work life balanceby hitendra patil
pransform inc. 

do you want employees who have:

  • greater engagement in their jobs
  • higher levels of job satisfaction
  • stronger intentions to remain with their employers
  • less negative and stressful spillover from job to home
  • less negative spillover from home to job
  • better mental health

aren’t these the things most accounting firms would want their employees to experience?

in a 2014 national study of employers conducted under the “when work works” project, families and work institute and the society for human resource management noted that employees in more effective and flexible workplaces are more likely than other employees to have such desirable traits mentioned above.

do you and/or your employees work 12-14 hours a day or 50-60 hours a week, don’t exercise, always feel tired, sleep poorly, eat junk food more often (mostly at your desk) and find it difficult to meaningfully engage with your near and dear ones? read more →

standardize quickbooks support for clients

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word "license" on word cloudlicensing can get expensive.

by roman h. kepczyk
quantum of paperless

in the united states, quickbooks is the most dominant small business accounting product on the market and will be the application that the majority of the firm’s clients use.

therefore, it is obvious that the firm must become proficient with supporting quickbooks.

more on tech spending: how to choose the right client portal solution | streamlining bill-paying at cpa firms | digital tools streamline audit production | making digital tax process easier is all about the workflow | when to adopt microsoft’s new office apps | what windows 8 means for how accountants will work in the future | how to choose the right backup system | how to know it’s time to scrap your old server

unfortunately, one of the biggest wastes of time is when firms support too many older versions of the software, which often leads to incompatibilities that can corrupt the database and make it unusable for clients.
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emerging breed of cpa rewrites the rules of the profession, smashes old business models

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pisano
pisano

‘generation flux’ embraces adaptability, flexibility, openness, decisiveness.

by gretchen pisano
the radical cpa

with a lifelong commitment to con­tinuous learning, cpas are some of the most willing learners you’ll ever come across.

today’s new generation of cpa embraces adaptability and flexibility, an openness to learning from anywhere, decisiveness tempered by the knowledge that business life today can shift radically.

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are you a passionate accountant?

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young asian entrepreneur reading magazinetake this quiz to see whether you’re phoning it in.

do you seek out opportunities to learn new things that will help your clients overcome their most difficult challenges?

selling value-creation advisory services is truly a slam dunk with most modern business owners, according mentorplus. the bad news is that, although most cpas would say they are their clients’ most trusted advisor, few could answer the following questions in the affirmative.

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how to build a powerhouse learning team for your cpa firm

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create competitive value by combining practitioners and educators on the same team.

by michael ramos and cate miller

cpas bring a diverse range of skills to any business problem. at small firms, partners wear many hats, including management of the learning function. but as firms grow, it soon becomes apparent that one of the firm’s partners – no matter how talented he or she may be – is not functioning at their highest and best use if they have to manage the entire learning function on their own.

training and development  part 3 in a 3-part series: run training like a business

     part 1: 4 steps to get more from your training budget

     part 2: how to manage cpe by the numbers

     part 3: how to build a powerhouse learning team 

 

with size comes a diversity of learning needs and management of the learning function becomes more complex. the opportunity cost of having firm partners and managers limit their billable hours to coordinate training begins to outweigh the costs of engaging the help of a learning professional.

thus is born the need for a learning team.

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when compromise is in order for some goodwill payouts

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businessmen standing on dollar billtwo ways to deal with the loss of a major client.

by marc rosenberg
retirements & buyouts

sometimes you need a creative compromise for dealing with the issue of linking client retention with goodwill benefits.

situations that could cause a firm to factor in lost clients in calculating goodwill benefits include:

  1. client loss, regardless of who is at fault.
  2. non-traditional services that were not institutionalized and hence, left the firm with the lead partner.
  3. loss of a significant client.

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social business: how new communication tools are revolutionizing the accounting profession

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william r. pirolli, cpa/cff/pfs, cgma email vcard bill is a partner with over 30 years of experience in public accounting. bill was formerly managing principal for the accounting firm of pirolli, deller & conaty.
pirolli

and yet, the heart of the cpa business remains a constant.

by william r. pirolli, cpa, cff, pfs, cgma
the radical cpa: new rules for the future-ready firm

at the heart of our profession are people… connecting with people. the human connection to the information we deal with is what makes our profession so personal and rewarding. it should always be at the heart of what we do.

the ways we connect have changed dramatically over time. while we all still use the telephone, fax, face-to-face meetings and the occasional written note, the invasion of facebook, linkedin, twitter, skype, youtube, instagram, cloud-based services and that smartphone or tablet you might be reading this on all serve to make our communications and services immediate, exponential and virtually limitless. read more →

how to choose the right client portal solution

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computer security concept shot, with binary code and password textmost firms already have. what’s holding the rest back?

by roman h. kepczyk
quantum of paperless

many firms have emailed clients copies of tax returns and financial statements over the years. unfortunately, this is not the most secure method as the firm does not have control of the various internet service providers and the relay servers between the firm’s email server and the client’s email account.

more on tech spending: automating bank deposits offers instant roi | how to ‘go digital’ when partners demand monthly p&ls on paper | digital tools streamline audit production | tech tools for today’s properly equipped field audit teams | going paperless means convincing clients first | intranet is the best place for firm knowledge | new tech tools for the 24/7 accounting firm | how to choose the right backup system | how to know it’s time to scrap your old server | where laptops rule at cpa firms today | step 1 in building the paperless firm: scanners

when dealing with digital files, the most effective way to transfer them is electronically over the internet either with email or through a portal.

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identity theft: clients wonder if they can trust their accountants

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click for infographic
click for infographic

the do’s and don’ts clients should hear from you first.

by rick telberg
卡塔尔世界杯常规比赛时间

americans were already afraid of identity thefts involving big companies like target, sony and anthem blue cross.

now the fear and distrust is starting to infect tax and accounting firms.

taxpayers using professional tax preparers are increasingly worrying about the security of their personal financial information, up 6 percentage points from last year, according to 卡塔尔世界杯常规比赛时间 sources.

six percentage points may not sound like much, but when it’s a 40% growth rate. at that pace, if unchecked, next year 29% of clients would need reassurances.

the big data breaches are already legion — target, sony, anthem blue cross. but when taxpayers start to suspect the security at cpa firms and professional tax preparation companies, the profession has a problem. and it’s a fundamental and growing problem.

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