surveys & research

survey: which niche’s the best niche?

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find your fit.

by 卡塔尔世界杯常规比赛时间 research

which niches offer the best opportunities for new business next year?

more: women-owned businesses upbeat but need help | survey: 42% of accountants turn away work over staff shortages | ethics on sustainability puzzle some accountants | accountants to the rescue as startups struggle | talent gap widening: be very scared | accountants hopeful, concerned and confused about ai | looking for recent grads? good luck | cpa biz is booming, but for how long?
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according to early results from the 卡塔尔世界杯常规比赛时间 outlook 2024 emerging issues, opportunities and trends survey, america’s accountants see more business in the niches they know best – the sectors where they already have experience and proven competency.
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fifteen services a salesperson can sell

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businessman talking on phone in the office

hate working leads? engage a pro.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

if you want leads to get business from large companies for tax services, consider hiring a salesperson.

more on marketing: twelve ways to establish your brand | why other accountants are great referral sources | bundle tax services with financial planning | how to begin a business valuation | how to offer conflict resolution | get your clients talking about retirement
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the salesperson should be a “professional” salesperson and does not need to be an accountant.
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five ways staff shortages are changing firms forever

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stock image of businessman pushing a giant stack of documents isolated on white background

top professionals provide their insights.

by 卡塔尔世界杯常规比赛时间 research

two crucial questions:

  1. what is causing the shortage of accounting professionals?
  2. what is the shortage of accounting professionals causing?

more: outlook: soft skills are front and center | outlook: it’s time for a new business model | rosenberg map: partner incomes surge 11.4%
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each question has a few answers.
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why you should function as a fiduciary

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diversify and figure out which assets not to own.

by anthony glomski
your $5 million high-net-worth practice

the first thing you and your clients should understand as investors looking to make smart financial decisions is this: the broad asset classes you choose to own (such as stocks, bonds, alternatives, real estate, private equity and so on) and the percentage of your household wealth that you allocate to each of those asset classes will have a greater impact on your future investment returns than any other decision you make – including which individual stocks you buy.

more: how to flip the switch to wealth preservation | how to outline your client’s big picture | your entrepreneurs need advice, but which kind? | three ways to work together on wealth | how to implement collaborative wealth management | five challenges of liquidating a business
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this means your first question as intelligent investors must be: how should i allocate my assets among the major asset categories?
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women-owned businesses upbeat but need help

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access to capital is a concern … and an opportunity for accountants.

by 卡塔尔世界杯常规比赛时间 research

despite a few challenges, small businesses are somewhat optimistic about their immediate future. according to the bank of america’s “2023 women & minority business owner spotlight,” 67 percent expect their revenue to increase over the next 12 months, and 46 percent plan to expand their business.

more: survey: 42% of accountants turn away work over staff shortages | 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 | how auditors can beat ai | why the u.s. must act now to protect our online privacy
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this guarded optimism is in the face of several perceived problems. only 34 percent think the national economy will improve in that timeframe, a number unchanged since last fall. a few more – 41 percent – see their local economy improving, though that number has dipped 2 percentage points since last fall.
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survey: 42% of accountants turn away work over staff shortages

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complete answers include “we’re turning away work because of it,” “we’re outsourcing at least some work” and “we’re upgrading comp & benefits packages.”

 

survey respondents offer their strategies.

by 卡塔尔世界杯常规比赛时间 research

the most shocking stat to come out of early results in the 卡塔尔世界杯常规比赛时间 outlook 2024 emerging issues, opportunities and trends survey is also the most painful.

it’s this: 42 percent of responding firms are turning away work for lack of staff.

more: ethics on sustainability puzzle some accountants | accountants to the rescue as startups struggle | talent gap widening: be very scared | accountants hopeful, concerned and confused about ai | looking for recent grads? good luck | cpa biz is booming, but for how long?
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that’s a big ouch for firms that have spent time, effort and money on marketing, only to find that they can’t reap the results.

data is still coming in from firms across the continent (and a few from across the ocean), but the trend is definitely toward critical. and the prognosis isn’t good.
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ethics on sustainability puzzle some accountants

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the professional accountant’s ethical code and independence

ethical sustainability reporting: essential, yes. easy, no.

by 卡塔尔世界杯常规比赛时间 research

cpas are renowned for their honesty, integrity and ethics, not to mention their detached disinterest, their objectivity and capability, their knowledge, accuracy and thoroughness. they act in the public interest, not the interests of those who hire them or even themselves.

more: accountants to the rescue as startups struggle | talent gap widening: be very scared | cpa biz is booming, but for how long? | survey: accountants economic outlook brightens | research: accounting pros cautiously optimistic about generative ai
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certified by the american institute of cpas, they necessarily accept and comply with the international code of ethics for professional accountants.

ethical dilemmas

the guidance in the code has a long history of consideration and development, but one of the newer parts of the code, on ethics involved in sustainability reporting, is still a bit vague. it can leave accountants with ethical dilemmas not easily resolved, according to a new study from the association of chartered certified accountants, “ethical dilemmas in an ear of sustainability reporting.”
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vcs plunk $60 million into ai-powered ‘autonomous’ tax prep

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black ore emerges from stealth with $60 million in funding to launch tax autopilot, an “autonomous” tax prep app for cpas and accounting firms.

by 卡塔尔世界杯常规比赛时间 research
via black ore

black ore.ai, an austin, texas-based ai platform for financial services, bolts out of the gate with $60 million in financing led by a16z and oak hc/ft. the company plans to use the funds to onboard new customers, grow its team and accelerate the development of additional ai products across financial services.

kapovski
shinar

black ore was founded by veteran entrepreneurs, ceo eyal shinar and cto pavel kapovski, who have proven track records building and operating global fintech brands with ai and machine learning technologies. shinar previously founded fundbox, a $1 billion fintech unicorn powering payments and lending solutions for smbs. kapovski previously led r&d at cme group and spearheaded the development of machine-learning technology used by globally regulated banks and financial institutions. they are joined by a powerful team from leading companies such as adobe, baker tilly, cisco, ey, google, goldman sachs, grant thornton, nasa, pwc and ramp.

black ore offers an ai and automation platform that accelerates core workflows for financial services businesses and simplifies the experience for their clients. as part of its launch, black ore also announced its flagship product, tax autopilot, which combines its proprietary ai technology with federal and state tax codes and regulations to simplify the tax preparation and review process for cpas and accounting firms. future product offerings will target wealth management, financial advisory and planning, insurance services and more.

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bill gates says america has a math problem

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the philanthropist offered three ways to fix america’s math issues.
 
by rick richardson
technology this week

when bill gates was in eighth grade, a teacher asked him why he was “so lazy” in math class. he responded, rather boldly, that the class was “not doing anything interesting.”

more: new tech could let evs go 3,000 miles on a single charge | major websites blocking content from ai crawlers | what is an heic file? | bill gates behind next-generation nuclear plant | electronic skin that can sense touch will transform robotics | four of today’s new technologies that will be tomorrow’s ‘norm’
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the co-founder of microsoft and philanthropist is quite talented at math and likes it, but he also admits that math is “america’s least favorite subject.”

in essence, gates claims that math education hasn’t advanced to match the pace of society.

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accountants to the rescue as startups struggle

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three ways that you can help.

by 卡塔尔世界杯常规比赛时间 research

small businesses rarely make the headlines, but as a whole they represent a huge portion of the american economy. more than 98 percent of all american businesses have fewer than 100 employees, and 77 percent have between one and 10. together they account for 36 percent of the national workforce.

more: talent gap widening: be very scared | accountants hopeful, concerned and confused about ai | looking for recent grads? good luck | cpa biz is booming, but for how long? | survey respondents see exciting year coming up | survey: accountants economic outlook brightens | research: accounting pros cautiously optimistic about generative ai
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americans, generally an independent bunch, are known for cranking up new businesses. one in 10 small businesses is less than one year old. the attrition rate is high, of course, but 45 percent have held on for one to 10 years, and they account for 34 percent of small business jobs.
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talent gap widening: be very scared

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five strategies for retention.

by 卡塔尔世界杯常规比赛时间 research

how long will your cpa firm or finance department be a going concern if a quarter of your accounting professionals walk out?

you shouldn’t just worry about that; you should be downright scared.

more: accountants hopeful, concerned and confused about ai | looking for recent grads? good luck | cpa biz is booming, but for how long? | survey respondents see exciting year coming up | survey: accountants economic outlook brightens | understanding the full cost of a data breach
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devastating losses of staff and a dearth of job candidates have reached crippling proportions, according to a study from the institute of management accountants and personnel placement firm robert half, “talent retention in the u.s. accounting and finance profession.”
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your clients’ words = your new cas marketing

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let them help tell your story.

by hitendra patil
client accounting services: the definitive success guide

your firm’s value proposition is not what you say. it is what your clients and prospects perceive. perception is reality. here are some proven ways to identify your firm’s real marketable value.

more: attract clients through facebook groups | how to destroy your cas profits | cas requires reaching out more | cas reports are better. here’s how. | is it time for your firm to outsource? | raise cas awareness among your clients | which clients are best for cas | how much can automating bank feeds save you? | wants vs. needs: why not fill both?
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  • ask your clients: it is not so easy to “be in the customers’ shoes.” you will be surprised how you can gain immense insights from your clients – about how they perceive and experience your service and how they feel; what they find of value and what they feel frustrated about. don’t guess, don’t assume, just ask them. it is easy to conduct customer surveys online (e.g., surveymonkey has a free version that allows you to collect 100 responses; google forms are also free to use). identify the most common positives and negatives that emerge from survey data to be able to improve your marketing and customer experience.

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accountants hopeful, concerned and confused about ai

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bar charttax and accounting pros share their thoughts, both negative and positive.

by 卡塔尔世界杯常规比赛时间 research

early results of the 卡塔尔世界杯常规比赛时间 outlook 2024 emerging issues, opportunities and trends survey are finding practitioners cautiously optimistic about the potentials of artificial intelligence.

more: looking for recent grads? good luck | cpa biz is booming, but for how long? | survey respondents see exciting year coming up | survey: accountants economic outlook brightens | research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai | why the u.s. must act now to protect our online privacy
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a lot more respondents see ai having a positive impact on their firms rather than a negative impact, but the vast majority – 67 percent – admit that they just aren’t sure.

twelve percent say the impact will be “very positive” as it increases efficiency, and another 17 percent are pretty sure the impact will be “somewhat positive.” only 4 percent fear a negative impact.
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