bissett bullet: beyond compliance
today’s bissett bullet: “some of us are compliance providers only …”
by martin bissett
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surge pricing: what works for uber could work for cpa firms
limited supply puts you in the driver’s seat.
by bill penczak
the serenity prayer states, “grant me the serenity to accept the things i cannot change, the courage to change the things i can, and the wisdom to know the difference.” keep that in mind for a moment.
more: four considerations for effective client culling | partner accountability: the only two things that really matter | chase birky: overcoming paralysis by analysis | o.d. lanier: stepping into advisory | are you too generous with your write-offs?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
when preparing tax returns and financial statement audits, one of the biggest challenges cpa firms face is either late or incomplete client information.
meet basis, the new ai bookkeeper on the block
founders focused on accountants’ pain points.
by seth fineberg
artificial intelligence is entering accounting in numerous ways, so it should be no surprise that another company has thrown its hat in the ring to automate the bookkeeping and related processes for accounting firms.
more: is this when accountants start taking freshbooks seriously? | when live events fail | getting real: accounting tech decisions you need to make today | who’s in control? you? or your clients? | time management rule #1 for accountants
after closing on a $3.6 million seed round, basis, which touts itself as an ai platform for accounting firms, is officially coming into the accounting market. the idea behind basis is that accountants can have ai-powered “intelligence” so they can (wait for it …) focus on being better advisors and not the “tasks” of being an accountant.
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do you really want that client?
sometimes you should consider saying no.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
we all want additional business, but sometimes the client should be vetted to determine if it is a good fit for your firm and if there are any danger signs.
more on marketing: want more tax clients? here’s how | bundle tax services with financial planning | how to begin a business valuation | how to offer conflict resolution | get your clients talking about retirement | how to assist investment clubs | when clients remarry | seven questions to suggest estate planning | four reasons to perform tax projections
following is an eight-point checklist that could help you in making a decision to accept the client.
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accountants bullish on the 2024 outlook
but big challenges loom.
by 卡塔尔世界杯常规比赛时间 research
no question about it: the 2023 tax season was a banner year. generally speaking, revenues were up, profits were up, no quarantines and the irs didn’t pop any surprises in the middle of it.
more: survey: accountants economic outlook brightens | tax pros are expanding and earning more | research: accounting pros cautiously optimistic about generative ai
yes, it was also a tough year, with staff shortages increasing the workload on practitioners, but it was that extra work, unburdened with payroll costs, that led to higher profits.
so what’s up for next year?
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tech tips for back office support
bonus: a case study with lots of specifics.
by penny breslin
it’s not just the numbers
i love the question i get when i set up someone on back office support systems. “what do i need to have to get this started?”
more: accounting tech tools to minimize your pain | strengthen client ties with workflow tools | understand your online marketing options | narrow your prospects by choosing a vertical | build your team, then choose your clients | how back office support adds value
i tell them i need to know your name, address, phone number, ein/ssn and your passwords. except for the guy who closed his bank account and had to have the old statements mailed to him, i run with a chromebook and make sure there is accessible wi-fi when i go onsite. if i need to collect documents that have never been digitized, i just have them download dext and start snapping pics. no paper, no pen, no mess and typically a stunned prospect who wants to become a client. see, i can’t sell, so i let the technology do the selling for me.
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six keys to getting a proposal accepted
plus seven things not to do.
by martin bissett
business development on a budget
what makes a written proposal become accepted by the potential client – every time?
more: six keys to turning prospects into clients | seven mistakes in winning new fees | how to develop your communication abilities | five questions for measuring partner potential | five ways to rally your firm to its culture | when would-be partners aren’t candidates | make your expertise a new-client magnet | don’t think of it as selling | experts: what it takes to become partner
proposal writing is a micro-science in its own right but here are the proven principles that it takes to get proposals accepted.
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new tech could let evs go 3,000 miles on a single charge
imagine driving across america and not stopping for gas.
by rick richardson
technology this week
a substantial advancement in battery technology has been made in the quickly developing field of electric vehicles (evs), offering an unparalleled increase in energy storage capabilities. this finding couldn’t have come at a better moment, given the exponential rise the electric vehicle sector is currently experiencing.
more: 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’
exclusively for pro members. log in here or 2022世界杯足球排名 today.
the energy storage capacity of batteries can now be increased tenfold according to a ground-breaking method developed by researchers at the pohang university of science & technology (postech). this invention could change the face of the entire electric vehicle market in addition to advancing battery technology. here’s how:
uncooperative partner might not be the problem
why are they unwilling to help?
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: my tax partner gives me a hard time when i ask her for assistance. is there anything i can do to get her to be more responsive?
more: merge in lower-priced work without losing out | 20 things you need for a business valuation
response: this can apply to every research question asked by anyone in the firm. besides tax, it can be for audit, internal controls, succession planning or any other client service area.
your entrepreneurs need advice, but which kind?
the collaborative wealth management process outlined.
by anthony glomski
the financial services industry has failed some of your clients who are entrepreneurs. a big gap can exist between what they pay (and the services delivered) versus what they need.
more: three ways to work together on wealth | target the family ceo | how to implement collaborative wealth management | five challenges of liquidating a business
we can agree that your clients will usually need an investment management solution. but how can you help your client sort through the different advice options to get them aligned with the right professional? how can you determine who is the right fit for your practice to develop a working relationship? the diagram below is the hierarchy of advice available:
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wanted: great audit mentors
professional audit mentors are scarce.
by alan anderson
transforming audit for the future
instant download:
“the new manifesto for accountants.“
i was lucky in the entirety of my career to have been empowered to try doing things differently. i had mentors who encouraged me to keep learning. but today, this forms-filling exercise that audit has become discourages people like me from staying. the ones who stay in audit are the ones who like filling out those forms.
more: is audit in crisis because of definitions? | stop sending the wrong message to audit teams | the big issues in audit: frustration, inconsistency and technology | talent retention: five tips for an audit adjustment | the ten financial controls that’ll make you a hero | five cash reports you can’t live without | when an audit is a great thing
new audit staff rarely have a mentor who gives them the big picture of what audit is supposed to be. instead, they learn how to fill out the forms better and more accurately. they don’t get review notes that ask them to think about what they’re doing. they get review notes about the way they reference their supporting documentation.
this lack of mentorship means that the best and brightest, the ones who like to keep learning, eventually leave. we are making the problem worse for future generations.
giles pearson: fix the staffing crisis by swapping experience for education
promoting cas services to entrepreneurial students can add better recruits to the profession.
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the disruptors
with liz farr
new zealand doesn’t have a tax season. this is largely because all tax returns are due one year after the standard march 31 year-end for businesses and individuals. but also: fewer than 20% of individuals actually need to file a return.
more podcasts and videos: jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow | jody padar: build a practice that works for you, not vice-versa | ira rosenbloom: with m&a, nobody wants a fixer-upper | peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go | accounting nerds, unlock your super powers | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson
“the returns that accounting firms are filing are for business owners and people with more complex investment structures,” says giles pearson, ceo and co-founder of accountests, an online knowledge-testing company that focuses on recruitment, selection and development assessments for chartered accountants, accounting graduates and candidates.
pearson adds that while a few do wait until the last minute, “the reality is for a lot of smaller firms here, by january, they’re literally twiddling their thumbs.”
this is something that pearson suggests the aicpa and the profession could be lobbying congress to adopt in america. alas, the profession has been trying for years, to no avail.
the four steps of your personal marketing process
you’re not done once you land a client.
by august j. aquila
price it right: how to value accounting services
most new business comes about because of personal marketing efforts. there is a process that your personal marketing efforts need to follow. in fact, the only way you will get different results is to change your current marketing process. let’s look at the four steps in the personal marketing process.
more: eleven marketing strategies for smaller firms | five keys to successful marketing | how does your firm measure up? | five questions for developing your marketing plan | twelve fundamentals of planning | six questions before asking for all the referrals you deserve | you only have four strategies | one question to guide your growth plans | five rules for a marketing orientation | the damage that traditional fee methods do | four ways to prepare for new business development | ten keys to marketing success
first, you need to get known and develop a good reputation in the marketplace. there are many ways for you to do this. look around your community.
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