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the 14 trends crushing today’s accountants

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business hand holding hot chart in crystal ballplus: nine fatal flaws in the accounting firm business model.

by marc rosenberg
the role of the managing partner

one purpose of strategic planning is to address trends taking place in the profession to ensure that the firm isn’t caught flat-footed when major changes or opportunities present themselves.

more: 13 traits of the best managing partners | top issues for millennial managing partners | the managing partner’s secret weapon | how a good managing partner impacts profitability | how a great managing partner impacts firm growth | compensation is no way to manage partners
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

believe it or not, most of these trends have not changed much over the past decade or so. and the global pandemic only served to disrupt the status quo and accelerate long-standing trends.
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five keys to becoming a high-performing firm

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transformation must come at all levels.

“the world accommodates you for fitting in, but only rewards you for standing out.” – matshona dhiliwayo, author, “the art of winning.”

by anthony zecca
leading from the edge

after your assessment of the leadership team, and the assessment of your own leadership, we move on to the challenge of answering the key question – what steps need to be taken (the road map) to move the firm from where it is today to a standout, high-performing firm?

more on edge leadership: assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success | do you lead or just manage? | managing vs. leading | is your leadership team at the edge? | 6 leadership challenges through covid and beyond | edge leaders share 7 strengths | leadership must drive culture | leading from the edge
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the call to action and question for you as the edge leader, for your leadership team, for your partners, and in fact for the entire firm to answer is, do you just want to fit in or are you willing to do what it will take to stand out? if you want to move to the top of the pack, what does the firm need to accomplish and how does leadership drive that transformation?

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are you too generous with your write-offs?

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five ways to improve operating margin.

by bill penczak

the pandemic has placed new strains on most cpa firms, with a paucity of events other than zoom meetings and many clients hunkering down and not making any changes to anything – least of which their accounting firm relationships, under some semblance of normal.

more penczak: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | don’t buy a rolodex, buy a process | the three r’s for beating the corona crisis | 6 reasons why your marketing sucks
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

so when it comes to preserving your original profit goals – or at least salvaging them – firms have an opportunity to seek better processes or staffing options, or both to pivot to the times. as a cfo i once worked with used to say, “you can either raise the bridge or lower the water.”

here are five options for lowering the water (labor cost) as a short- and long-term strategy for greater firm success: read more →

the 10 best movie accountants

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gene wilder freaks out about his blue blanket with zero mostel the producers 1968

we look pretty good up on the big screen.

by ed mendlowitz
call me before you do anything: the art of accounting

i digress from my autobiographical stories to give you my top 10 movie roles of accountants.

more: why accountants quit | why cpas should stay in public accounting | readers rip: ‘she wanted her shoebox back’ | ceos don’t always know numbers | finding new business in sustainability | 14 simple, easy tips for a better tax season | how to recoup staff training costs | 10 ways to stay in control
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

1. “dave” – dave’s accountant, played by charles grodin, helps the president, played by kevin kline, trim costs so the first lady’s homeless project can be funded.

2. “the producers” – accountant leo bloom, played by gene wilder, hatches the plan for a broadway flop. read more →

why advisory opportunities emerge from core cas offerings

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three keywords to guide you.

by hitendra patil
client accounting services: the definitive success guide

“we want to offer outsourced cfo and advisory services.”

it has become an increasingly more common intent of accounting firms of all sizes. technology automation, artificial intelligence and more innovative solutions seem to make it even more logical for accountants to feel that the future is more about advisory services than ever before.

more: is it time to outsource? | your firm’s cas team: who and how many | two tech approaches to cas | when to start building your cas tech stack | stop derailing cas | show your priciest cas package first | your firm needs a cas champion
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you have similar intentions and goals, please answer this question:

“what type of advice do you give to your clients, periodically and regularly?”

or turn it around and answer this question:

“what type of advice do your clients seek from you and when?”

if you could think of 5-10 different actionable insights you regularly deliver to your clients, congratulations! but if not, do not worry. it is not difficult to lay a strong foundation for your advisory services. read more →

automation without accountants

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top use case: 43% of accountants use automation to import hours into payroll.

more than half the work world is embracing automation. why not accountants?

why accountants won’t automate:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

for all the talk of automation among tax and accounting practitioners, they are still falling behind, even as other professions race ahead.

more in tech: microsoft puts the full windows experience in the cloud | survey: how old is your desktop pc? | microsoft acquires cybersecurity firm riskiq | survey: your favorite desktop pc | global fintech funding gains momentum | salt: the small business disaster waiting to happen

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

more than half the work world is embracing automation.

among accountants: it’s less than half, according to a broad new study.
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16 questions to set your practice goals

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businessman pole vaulting toward his goalplus three guidelines for setting financial targets.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

the accounting business was changing even before the onset of the covid-19 crisis.

more: 6 steps to maximize referrals | it’s all about your wealthy clients | conviction + process + expertise = your next $5 million | a high-net-worth practice in four steps | don’t ignore life insurance | adultery and other messy situations | how to attract the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

three of the factors that are possibly impinging on your ability to be as successful as you want include:

    • significantly increased competition: from more accountants to other professionals encroaching on some of the expertise accountants provide, there is greater competition for the better clients.

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staffing: 10 key interview questions

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to uncover potential fast and early.

by jody grunden
building the virtual cfo firm in the cloud

before our firm became a distributed company with a remote workforce, our hiring was naturally limited to a small geographical location – fort wayne, indiana.

more: why remote workers need retreats | take the pain out of online meetings | why your firm’s core values matter | be more efficient with tech stacks | not all employees will work out
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when we really started to grow, we knew we needed to bring in more senior-level accountants to be able to handle the clients we were bringing in at such a rapid pace.
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are you productive or just busy?

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harried business teamyour firm may need to change its culture.

by steven e. sacks
the new fundamentals

did you ever notice when you call an associate or a friend or a business of any type, more often than not he or she will always respond with “i’m really busy” or “i’ve been jammed up”? it does not matter the time of the year, much less the time of week or day.

more: the five big rules for powerpoint presentations | how aging boomers impact the accounting profession | accounting is a profession, not an industry
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

has busy become too colloquial or just a throwaway line? what is actually meant by “busy”? or, more specifically, what is the condition of “busyness”?

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turn client wants into needs

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happy businessman using smartphone at officethe key to getting premium fees for premium services.

by hitendra patil
client accounting services: the definitive success guide

what some clients feel is an absolute need, others may feel is not so.

people may need to book an uber or lyft ride, but some of them may want a premium ride.

more: what clients need now, more than ever | the 15 absolutely necessary services for cas clients | romeo, juliet, google and client accounting services | how cas makes firms better | cas begins with a mindset
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

some of your client accounting services (cas) will be the premium ride some your clients will want. and – don’t be surprised – for some clients, your premium services will be the need (you want such clients).
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eisneramper takes on private-equity investor, spins out attest firm

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charly weinstein on cnbc talking about the private equity deal.

towerbrook capital partners’ infusion “reimagines the traditional accounting firm model.”

by 卡塔尔世界杯常规比赛时间

eisneramper llp – one of the profession’s top 20 firms with more than $420 in annual billings, 200 partners, and 1,200 employees – has sold about half the firm to towerbrook capital partners, a private equity fund with big investments in the financial services sector.

as a result, eisner is splitting into two entities: the legacy eisneramper llp, a licensed cpa firm, to provide attest services, and the new pe-funded eisner advisory group llc, for business advisory and non-attest services. terms were not disclosed but towerbrook has a reputation for taking controlling interests in the companies it funds. audit and assurance account for about 49 percent of eisner’s pre-deal billings, with 42 percent from tax and 9 percent in consulting.

“it will be a positive disruptor in the profession,” according to charly weinstein, eisneramper ceo.  “rather than conforming to traditional frameworks, adopting a new model of ownership facilitates the best structure for the firm to drive growth and innovative solutions to our clients. our colleagues will be able to chart a course for success in our purpose-built practice structure.”

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