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henry
 rory henry, a behavioral financial advisor, is the director at arrowroot family office and co-founder of afo wealth management forward. he has created a program to help accounting professionals incorporate holistic wealth management and proactive planning services into their practice.

and how the accounting profession has been right alongside.

by rory henry
the holistic guide to wealth management

the accounting profession is evolving rapidly. new business models are emerging, and firms are uncoupling themselves from the constraints of a partnership structure, from outdated service offerings, and from time-based pricing practices.

more: rory henry upends the traditional accounting firm | why now is the time for cpas to embrace wealth management
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you may be asking yourself: “what business am i truly in?” or perhaps, “what business should i be in?” before answering these questions, consider that you may ultimately be in the relationship business more than you’re in the tax, accounting or bookkeeping business. it doesn’t matter which training, certifications or acronyms you have following your name. if you’re moving into financial planning – or thinking about doing so – you might want to ask yourself: “am i really in the human business?”
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how wealth management has evolved

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henry
 rory henry, a behavioral financial advisor, is the director at arrowroot family office and co-founder of afo wealth management forward. he has created a program to help accounting professionals incorporate holistic wealth management and proactive planning services into their practice.

and how the accounting profession has been right alongside.

by rory henry
the holistic guide to wealth management

the accounting profession is evolving rapidly. new business models are emerging, and firms are uncoupling themselves from the constraints of a partnership structure, from outdated service offerings, and from time-based pricing practices.

more: rory henry upends the traditional accounting firm | why now is the time for cpas to embrace wealth management
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you may be asking yourself: “what business am i truly in?” or perhaps, “what business should i be in?” before answering these questions, consider that you may ultimately be in the relationship business more than you’re in the tax, accounting or bookkeeping business. it doesn’t matter which training, certifications or acronyms you have following your name. if you’re moving into financial planning – or thinking about doing so – you might want to ask yourself: “am i really in the human business?”
read more →

eight strategies for recruiting

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group of four young professionals

plus interview questions, ideas for small firms and more.

by marc rosenberg
cpa firm staff: managing your #1 asset

“in looking for people to hire, you look for three qualities: integrity, intelligence and energy. if they don’t have the first, the other two will kill you.” – warren buffett

“we believe hiring to be the most important first step toward the organization’s success.” – anonymous

more: why developing women partners matters | a better way to provide performance feedback | training? cpe? they’re not the same | six tips for setting compensation | staff crave advancement and challenge | what leadership looks and feels at cpa firms | eleven things that good mentors do | give the recognition your staff needs | the importance of great bosses | how remote work is impacting accounting firms | make work flexibility work for everyone | why staff leave cpa firms … and how to stop them | how to solve the big disconnect in talent management | what relevance means for staffing in accounting | how accounting staffing has changed
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

this post offers a plethora of ideas and techniques to recruit staff. all of them can be sorted into eight high-level strategies:

  1. abr: always be recruiting. we all know that staff are very hard to find and retain. it’s been this way for decades and seems to get worse every year. in the past, firms recruited only if they had an opening. progressive firms proactively recruit 24/7. given the 15-20 percent turnover rate at cpa firms, they never know when a staff person will resign or need to be terminated. but one thing is sure – turnover will occur. if your firm website doesn’t have a section on the careers page that encourages applicants to submit their resume even if there are no openings posted, add one immediately.

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eight steps for better client accounting services

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man seated at desk in front of computer, talking on phone

start small.

by hitendra patil
client accounting services: the definitive success guide

whether you are thinking of offering client accounting services, have already started offering it, or you want to grow your cas practice or make it more profitable, some proven steps will make your cas practice shape up in the most optimized way. if you have already started offering cas, these are the steps that you will revisit from time to time.

more hitendra patil
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there are eight steps to get started in cas and make your cas practice better. the following details are just a bird’s-eye view of the important aspects of how to create your cas practice.
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cfos see ai as top risk and opportunity

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pie chart

are you working on a policy yet? half your peers are.

by 卡塔尔世界杯常规比赛时间 research

if you’re in business – anywhere from accounting to manufacturing to retailing – you’d better buckle up because next year isn’t going to be like this year, let alone the year before.

more: does accounting belong in stem? | accounting arc | artificial intelligence may already be plateauing | regulation, geopolitical instability spark concern | ten ways to manage price increases | survey says 57% of firms are raising prices next year | how will private equity impact accounting careers? | eleven questions about kids, wealth and the family business | twelve years and out: seasoned accountants join the exodus | how accounting firms are handling the staff shortage | gen ai in accounting: epic transformation, or overheated hype? | survey shows big opportunities in small business | salary guides for accountants vary widely: whom do you believe? | are you earning what you deserve?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

the bdo 2024 cfo outlook survey uncovered a startling change that occurred this year. early in 2023, 71 percent of middle-market cfos said supply chain disruption was their primary risk, economic volatility running a close second and geopolitical disruption a close third.

but artificial intelligence never made the top five. in fact, it isn’t even mentioned in that survey. not once.

but 2023 was long, long ago.
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bissett bullet: increase the value to increase the price

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today’s bissett bullet: “build up the strength of your offer first before you talk about what it will cost.”

by martin bissett

have you ever listened to someone talk you through something that sounds incredible but the more they talk, the more you can feel the cost rising until you almost don’t want to ask for the price? talk your client through the impact of your work on their business and build an expectation that the number that’s coming is going to be far bigger than it actually is. that way, it is a comfort to them when the cost presented is lower than they expected.

today’s to-do:

look at your next proposal. how can you use the impact of your work to suggest a higher price than you end up quoting? practice your delivery before the next meeting with them.

see more bissett bullets here

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seven steps to determining your price

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businesswoman using calculator while reviewing something on laptop screen

plus four things to learn about each prospective client.

by jody padar
radical pricing – by the radical cpa

how much would you pay for a bottle of water in the checkout line of a grocery store? maybe $2 or $3, right? you know it costs more per unit than buying a case of water, but at that moment it’s worth it even though it’s the same bottle of water. now, let’s assume you just made the long trek back to your hotel room in las vegas. they have the same bottle of water sitting there for $10. you’re thirsty and don’t want to walk to find a store, so you pay $10 for that bottle conveniently located in your room. the water isn’t different, but the value at that moment in time is subjective.

more: using change orders with scope | who needs to understand scope? | determining a price … and when to change it | perfecting the client needs assessment | create more meaningful kpis | five reasons to ditch timesheets for good | six steps to creating a standardized practice | value pricing requires defining your clients | stop selling time | three critical factors drive the value pricing trend | stop looking for talent that does not exist
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

when we think about price, we really need to think about worth. what actually are you bringing to the table? lots of training. many years of experience. vision into similar businesses. it took you years to get here; don’t sell an answer to a question the client asks for the three minutes it took to answer.
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people development still a concern

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five young business people at work in an office setting.

who wants to be partner? anyone? hello?

by kristen rampe
the rosenberg national survey of cpa firm statistics

i anticipate more interest in exploring artificial intelligence and offshoring for small to midsized firms. as new use cases and case studies of success come online, late adopters will start to dabble in these important developments.

editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: focus on intentional growth | accounting firms upshift to corporate model | growth and complacency must concern accounting firms this year | the future of fees | how accounting firms are dealing with retirement
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strong local and regional firms will continue to thrive, though they will face the continued pressure of offers from cpa firm buyers and private equity. many fiercely independent firms will continue on their own path. of those, plenty will remain successful, but not all, and depending on where the hearts, minds and financial goals of the owners are, they might find interest in entertaining these offers.
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introducing you to a fulfilling return on relationships

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henry
 rory henry, a behavioral financial advisor, is the director at arrowroot family office and co-founder of afo wealth management forward. he has created a program to help accounting professionals incorporate holistic wealth management and proactive planning services into their practice.

clients don’t just want answers, they want empathy.

by rory henry
the holistic guide to wealth management

in his iconic work, “meditationes sacrae” (1597), sir francis bacon wrote that “knowledge itself is power.” many scholars believe bacon wanted to further the idea that having and sharing knowledge is the cornerstone of reputation and influence – and therefore power. all achievements emanate from this philosophy.

more: rory henry upends the traditional accounting firm | why now is the time for cpas to embrace wealth management
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

but in many areas such as business, finance, sports and the military, knowledge can be a competitive advantage. therefore, many are reluctant to share their knowledge with others.
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meet your client all year, not just during audit

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businesspeople having a meeting over coffee sitting together at a table discussing a document, young man and two middle-aged women present

will there be more work? most likely.

by alan anderson, cpa
transforming audit for the future

when you’re a client-serving firm, the service doesn’t end with delivery of the financial statement audit. client service should be perceived as a continuous, ongoing process that is supported by the culture with accountability measures. client service is a relationship that is developed by habit.

more: give your audit teams tasks that increase business acumen | are you using the right business model? | empower your team by dumping c and d clients | eleven types of audit clients and which to fire | don’t take on audits in an industry you don’t understand | how ‘business expert cpas’ get their own business wrong | exceptional audit client service demands effective communication | five ways to prevent audit bottlenecks
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

cpa firms tend to get bogged down in the work, so i developed a process for developing those relationships. i would sit down with the team and tell the senior accountant and the manager that they needed to meet at least quarterly with their counterpart at the client. the senior would meet with the controller. the manager would meet with the cfo. my responsibility would be to meet with the ceo or the business owner. these meetings could be phone calls but at least one of those meetings would be for lunch. if they desired, the senior and manager could have a joint lunch meeting with the controller and the cfo.
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why developing women partners matters

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womand and man seated side by side at table in front of laptop, hanging plants in background

several experts on offer tips on how.

by marc rosenberg
cpa firm staff: managing your #1 asset

“if i have 500 partners and 400 are men, i figure i have 150 underperforming partners.” – a big 4 managing partner

the cpa profession suffers mightily from a shortage of labor. there are several reasons for this, in no particular order:

  1. accounting is not a popular major in college.

more: a better way to provide performance feedback | training? cpe? they’re not the same | six tips for setting compensation | staff crave advancement and challenge | what leadership looks and feels at cpa firms | eleven things that good mentors do | give the recognition your staff needs | the importance of great bosses | how remote work is impacting accounting firms | make work flexibility work for everyone | why staff leave cpa firms … and how to stop them | how to solve the big disconnect in talent management
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

  1. since the turn of this century, a dreadful shortage of accounting professors has challenged universities’ ability to meet student demand for accounting courses.
  2. the cpa firm industry has high turnover, generally in the 15-20 percent range. reasons include the technical demands of the work, busy seasons, long hours, the profession’s requirement that people wait 10 to 20 years before making partner and the failure of partners to mentor staff.

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