surveys & research

five ways to separate accounting winners from losers

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two women looking at laptop screen

how many of these are you expert in?

by marc rosenberg
the rosenberg practice management library

if cpa firms did everything “right,” they could easily double or triple their income. doing things right includes effectively bringing in clients, charging high billing rates, maintaining strong realization, high leverage of staff to partners and keeping expenses down. it’s the rare firm that does well in all of these categories.

more: two factors determine firm profitability | don’t make firm profitability a goal | top 20 tough choices for the partner comp committee |tell potentials what partnership takes | disturb the present to improve the future
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the path to profitability is different for every firm. but the truly profitable firms are successful at achieving one or more of the following:
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firms offer advice about cas

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man with six arms handling various aspects of business

can’t find staff? focus on technology … and other suggestions.

by 卡塔尔世界杯常规比赛时间 research

client accounting services is a bold, new world in the accounting industry, so no surprise we’re getting a lot of good advice from the 卡塔尔世界杯常规比赛时间 outlook 2024: emerging issues, opportunities, and trends survey.

more cas survey: ten+ ways firms prefer (and prefer not) to market cas | survey: the cas pricing problem | cas challenge: no staff, no services | cas ‘one-stop shop’ means steady clientele | accountants cozy up to clients with cas
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if 59 percent of firms are offering some form of cas, that means 41 percent aren’t even though most (but not all) the 59 percent are saying go for it … but be careful.

asap… but

while one respondent says, “dive in, there is plenty of need out there,” and another just says, “do it asap,” most others recommend some forethought and planning.
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mit tests new ingestible vital signs sensor

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devices could deliver life-saving information and medicine in the near future.

by rick richardson
technology this week

an ingestible capsule that can track vital signs, including heart rate and breathing patterns, from inside a patient’s digestive system was created by massachusetts institute of technology researchers. the innovative gadget, according to the experts, may also identify respiratory depression symptoms that accompany an opioid overdose. the gadget will be particularly helpful for sleep studies, according to giovanni traverso, an associate professor of mechanical engineering at mit who has been working on creating a variety of ingestible sensors.

more: telehealth advances with ai-powered clinics | windows is now an app for pcs, apple products | bill gates says america has a math problem | what is an heic file? | bill gates behind next-generation nuclear plant | congress: tax prep companies shared private data with google, meta for years | what an a.i.-powered workforce means for accountants
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patients in sleep studies typically need to be connected to multiple sensors and devices. sensors can be wired to a patient’s scalp, temples, chest and lungs in lab settings or at-home research investigations. a patient may also be asked to wear a chest belt, nasal cannula and pulse oximeter that connects to a portable monitor. it’s difficult to try to sleep with all this equipment.

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passed on chatgpt the first time? it’s time to think again.

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chatgpt is evolving so fast you’ll need weekly updates.

by sandi leyva

tax and accounting professionals are used to keeping up with new tax laws that arrive rapidly. one thing that’s changed faster than tax law this year is ai, specifically the features of chatgpt.

check out our webinars on chatgpt,
offered as a deep discount bundle or separately.
webinar schedule:
more chaptgpt here

if you decided to use chatgpt a few months ago, this software tool has changed drastically. and the new features are breathtaking.

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is the cpa business model the clog in the pipeline?

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older woman showing young woman something on office computer screen

maybe a flip in perception is in order: 150 hours as an investment, not a burden.

by 卡塔尔世界杯常规比赛时间 research

the accounting profession is in trouble. big trouble.

cpa firms experience the problem as a difficulty in finding certified professionals. but the real problem is in the personnel pipeline that feeds the industry, the long, hard, expensive process of becoming a cpa.

more: can big data spot financial fraud? | will unclogging the accounting pro pipeline kill mobility? | accountants bullish on income | which niche’s the best niche? | ethics on sustainability puzzle some accountants | accountants hopeful, concerned and confused about ai | survey respondents see exciting year coming up | the 7 categories of cybersecurity solutions firms need
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to continue the metaphor, it’s also the drain pipe – the increasing flow of professionals out of cpa firms and into retirement. in 2020, 75 percent of cpas became eligible to hang up their green eyeshades and find something else to do, such as get to know their families and experience the pleasures of daylight.
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can big data spot financial fraud?

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woman leaning toward desktop computer screen

google searches give auditors a glimpse of true sales.

by 卡塔尔世界杯常规比赛时间 research

google trends is a free service at the world’s most widely used search engine. in an instant, users can see how often a keyword has been the target of a search.

more: will unclogging the accounting pro pipeline kill mobility? | accountants cozy up to clients with cas | cpas culling clients for better work-life balance | women-owned businesses upbeat but need help | accountants to the rescue as startups struggle | looking for recent grads? good luck
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when that keyword is a product, the searches tend to reveal something about sales.

and that should be of interest to auditors.
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humans beat ai in some aspects

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… but not all. what that means for the profession.

by hitendra patil
rise of the aiccountants

a research study by the american accounting association evaluated the performance of chatgpt on accounting-specific content.

more: why accountants should embrace artificial intelligence | ai brings opportunities for accountants | seven things you must know about ai
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the study was conducted by a team of 327 coauthors from 186 educational institutions worldwide, who entered 25,817 assessment questions and evaluated the accuracy of chatgpt’s responses.
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ten+ ways firms prefer (and prefer not) to market cas

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bar chart

one point of concern: who’s doing the marketing?

by 卡塔尔世界杯常规比赛时间 research

the 卡塔尔世界杯常规比赛时间 outlook 2024: opportunities, emerging issues and trends survey is bringing to light an array of marketing strategies that cpa firms are using to promote their client accounting services.

more cas survey: survey: the cas pricing problem | cas challenge: no staff, no services | cas ‘one-stop shop’ means steady clientele | accountants cozy up to clients with cas
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nine strategies are mentioned by at least a few of the early survey respondents.
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how to leverage chatgpt in advisory work

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learn the language of commands and prompts. and check the math.

by sandi leyva

the generative ai model chatgpt, developed by openai, has been out for over a year. yet, roughly half of the accounting professionals taking my chatgpt webinars haven’t found the time to try it out yet. in this article, i want to give you a sneak peek into just one of the many tasks chatgpt can perform for you to shorten your day potentially.

check out our courses on chatgpt,
offered as a deep discount bundle or separately.
webinar schedule:
more chaptgpt here

let’s say you have a client with some advisory questions. they want to know the answers to the following four questions based on sales data for a particular period:

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why accountants should embrace artificial intelligence

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ai didn’t cause the talent shortage … and it won’t solve it, either.

by hitendra patil
client accounting services: the definitive success guide

  1. artificial intelligence says, “it’s essential to recognize that the talent shortage in the accounting profession is not a new problem. the profession has been facing challenges in attracting and retaining talent for many years, with factors such as increasing workloads, long hours and a lack of work-life balance contributing to the problem. addressing these issues is crucial to ensuring the profession’s continued success.”

wait. don’t believe ai at face value.

more: ai brings opportunities for accountants | seven things you must know about ai
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  1. because ai also says, “an important factor (why ai cannot easily replace accountants) that cannot be overlooked is the significant role that trust plays in the accounting profession.”

wait. don’t trust ai at face value.
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survey: the cas pricing problem

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bar chart

accountants grapple with how to value insight and advice.

by 卡塔尔世界杯常规比赛时间 research

one of the biggest challenges to offering client accounting services (cas) isn’t offering the actual services; it’s figuring out how and how much to charge for them.

more cas survey: cas challenge: no staff, no services | cas ‘one-stop shop’ means steady clientele | accountants cozy up to clients with cas
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when the 卡塔尔世界杯常规比赛时间 survey outlook 2024: emerging issues, opportunities and trends asked what’s most tough about cas, finding and training staff ranks #1, of course, for 30 percent of respondents. but pricing cas services was close behind for 29.2 percent.
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cas challenge: no staff, no services

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bar chart

demand isn’t a problem, but supply might be.

by 卡塔尔世界杯常规比赛时间 research

the 卡塔尔世界杯常规比赛时间 outlook 2024: emerging issues, opportunities and trends survey asks 23 questions about client accounting services. early results clearly reveal certain emerging issues:

more cas survey: cas ‘one-stop shop’ means steady clientele | accountants cozy up to clients with cas
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  • a majority of cpa firms (59 percent) now offer cas, and a lot more (21 percent) may soon join them.
  • a sizable portion of clients want these services.
  • staff shortages and training are the biggest challenge (for 30 percent) and biggest obstacle (for 44 percent) to offering cas.

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will unclogging the accounting pro pipeline kill mobility?

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man placing box on desk to move into new job, with to coworkers in background

changing the 150-hour requirement could have unintended consequences.

by 卡塔尔世界杯常规比赛时间 research

the day-to-day of the cpa may be grueling at times, but one thing makes the day a little easier – the facility of mobility.

not only can a cpa with a driver’s license in one state drive in other states, but in most cases, they can practice their profession in other states, too. if you’re licensed to practice in one state, you’re good to go in every other state except, coincidentally, the one you can’t drive to.

more: accountants cozy up to clients with cas | accountants torn over 2024 economy, offer advice | are you offering the right services? | 42% of accountants turn away work over staff shortages | talent gap widening: be very scared | looking for recent grads? good luck
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practice mobility is crucial in a business system that often as not transcends state borders, and it’s even more important as professionals work remotely, sitting in one state while practicing in another.
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