bissett bullet: the water law
today’s bissett bullet: “imagine holding a glass of water at arm’s length, shoulder height.”
by martin bissett
see more bissett bullets here
special
what’s your firm worth? private equity wants to know
the m&a picture has changed.
by 卡塔尔世界杯常规比赛时间 research
rosenberg survey
you probably thought you’d never hear these three words together, but here they are: accounting is hot.
this isn’t to say that cpa practices have six-pack abs and saucy haircuts. they don’t. but as far as markets go, accounting firms are hot items for investors looking to snatch up profitable organizations.
more: the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
the attraction is the consequence of two years of double-digit growth – the golden age of the accounting industry. revenues jumped in 2022, and then they jumped again in 2023. and 2024 ain’t looking too bad, either.
according to the 2024 rosenberg national survey of cpa firm statistics – the 26th edition of the gold standard analysis of the industry – fee growth in 2023, excluding mergers, ranged from 3.2 percent for firms billing under $2 million, to 11.4 percent for firms with over $20 million in billings.
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when to walk away from a prospective customer
enabling your team to fire clients supports the ethos that your team is your most valuable asset.
by jody padar
radical pricing – by the radical cpa
there are few ways to sink an accounting firm faster than winning bad clients. they will rob your profitability, steal your sanity and cause havoc among your staff and other client relationships.
exclusively for pro members. log in here or 2022世界杯足球排名 today.
ask yourself these questions and be prepared to walk away if you don’t get the right answers:
election tax plans: what cpas need to know | accounting arc
how will proposed tax reforms impact businesses and tax professionals in the 2024 election cycle?
accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation
are you earning what you deserve?
plus some predictions about where the job market is headed.
by 卡塔尔世界杯常规比赛时间 research
here’s a statistic you can probably sympathize with. according to new salary data, 99 percent of finance professionals report experiencing some level of burnout in the past year.
research: partners: your middle managers are getting burnout
more: the slow, painful death of the 150-hour rule | partner comp earnings gap: what’s the right spread? | main street accountants see turbulence ahead for small business | partners: your middle managers are getting squeezed | gear up for growth |
exclusively for pro members. log in here or 2022世界杯足球排名 today.
unless you’re in that other 1 percent, you know how it feels. and who could blame you for feeling that feeling and then looking at your paycheck?
ten-point checklist for your next business development appointment
bonus: ten questions to check your comfort level.
by martin bissett
business development on a budget
i’ve been asking you to believe in yourself, to get your potential clients to open up to you, and to demonstrate to them the outcomes that working with you and your firm would create in their personal and professional lives.
more: what rich accountants do | attract clients, don’t sell to them | how to attract clients | four reasons accountants struggle with selling | think of it as service, not selling | eight questions for personal preparation | perception, even your own, is reality | eight questions that target personal accountability | how to prepare for partnership | stop waiting for business to come to you | are you projecting confidence? | five questions to help forecast your firm growth | four key questions about leadership | does client perception match your firm’s reality?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
now here’s a checklist for you to run through before you begin your next business development initiative, and before each new business appointment that you have.
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thomson reuters brings al to audit solutions
auditors can experience increased efficiency, enhanced accuracy and improved transparency.
by rick richardson
technology this week
thomson reuters, a global content and technology company focused on the public accounting profession, launched thomson reuters audit intelligence recently. this suite of ai-powered, data-driven audit solutions is designed to transform audit practices by reducing errors and enhancing confidence while enabling auditors to realize efficiency gains.
more: technology this week with rick richardson
the first tool in the suite, audit intelligence analyze, employs ai and machine learning to enhance audit quality and efficiency simultaneously. the solution focuses on high-risk areas by efficiently segmenting audit testing populations based on risk level and reducing the number of items to be tested. with advanced anomaly detection, analyze integrates directly within existing workflows, identifying unusual items often overlooked by humans and automatically generating all necessary audit documentation.
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i’m just starting out; why join an association?
why would you not?
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: i do not belong to the njscpa and see no value in it. what are the benefits if i am a sole practitioner and just starting out?
more: don’t blame the client for your location | realign partners with monthly meetings | hourly billing doesn’t cover the value; now what? | you have to start somewhere | nine reasons not to specialize | hiring experience vs. training inexperience | a friendly chat or a billable discussion? | when selling a firm to staffers is tricky | courting a client? don’t give too much away for free | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them)
exclusively for pro members. log in here or 2022世界杯足球排名 today.
response: i belong to the aicpa, njscpa and nysscpa, feel strongly about supporting these societies and believe it is a responsibility of professionals to do so.
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are you using the right business model?
own your expertise and price it accordingly – yes, even in audits.
by alan anderson, cpa
transforming audit for the future
those firms that value the chargeable hour above all risk losing their best team members. the ones who want to think, innovate and come up with creative ideas that add value to the client and the firm will leave.
more: give advice while remaining independent | stop mixing up your v’s and losing your best people | how to upgrade c and d clients | can a service center model solve audit staffing shortages? | move to advisory and assurance with relevance | use eight audit exit items to deepen client relationships | know your three audit w’s | planning lays the foundation of audit relevance | are you correctly identifying the relevance intersection?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
when audits are billed out on a flat-fee basis, is an hourly rate still relevant? tracking time isn’t a revenue system if it does not impact what the client pays you. the billable hour is nothing more than a cost accounting system. production is what the client pays for, so measuring that, plus instituting measures for accountability, more closely mirrors what brings money in the door.
ten tips on using newsletters | listicle
the new pipeline: outsourcing and offshoring
firms still are working out their options and business models.
by 卡塔尔世界杯常规比赛时间 research
the 2024 rosenberg national survey of cpa firm statistics has found something that everybody knew. it has also found that there’s more of it than anybody knew.
and that there’s more coming.
more: is this the last year of accounting’s golden age?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
this swelling tsunami sweeping over the accounting industry is the use of outsourced staff, outsourced tax returns, and the ultimate in remote work, offshoring assignments and functions to foreign lands.
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is the irs adequately tracking corporate tax evasion?
the inspector general smells something fishy.
by 卡塔尔世界杯常规比赛时间 research
believe it not, there are large american corporations that establish a pseudo-presence in other countries for the sole purpose of evading taxes.
and that’s not the only trick in the corporate books.
more: irs still unsure how to measure audit rate | art werner: estate planning strategies | quick tax tip | art werner: post-mortem estate planning | quick tax tip | pause to praise the tax pro volunteers | irs vs. fraudsters | imagine! the national tax advocate does | art werner: maximizing fringe benefits | is the irs mismeasuring phone service? | eight steps to getting started with ai: a guide for tax professionals
exclusively for pro members. log in here or 2022世界杯足球排名 today.
granted, sometimes those tricks are legitimate tax tactics. the tax code has loopholes, and that’s what they’re for.
needless to say, corporate tax strategy can get pretty complicated. there is an entire industry of lawyers, accountants and wealth management professionals dedicated to walking the fine line between evasion and due diligence in the interest of shareholders.
read more →
marketing’s role in staffing and recruitment
is your firm overlooking any of these opportunities?
by august j. aquila
price it right: how to value accounting services
we have talked about creating a marketing culture and an overall firm culture. these two concepts have been around for more than 30 years. what we are seeing today is that a marketing culture can have a significant impact on retaining and bringing in new staff. firm culture also plays a huge role in retaining employees and even partners.
more: measuring marketing success: the 10 kpis | seven reasons marketing can make your firm a great place to work | develop your personal marketing plan in ten steps | what makes a great website? | four strategies for building your practice | market technology services through workshops and training | the secrets of great business developers | dodge the four curses of a production orientation | client acquisition never stops | ‘sales’ is not a four-letter word | maybe what you need is a marketing audit | three types of marketing message, and which is best
exclusively for pro members. log in here or 2022世界杯足球排名 today.
while the primary function of marketing is often associated with promoting products or services to external clients, it also has an important internal role in attracting, engaging and retaining top talent within the organization. here are six key ways in which marketing contributes to staffing and recruiting in a professional service firm:
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- employer branding: marketing helps shape and communicate the firm’s brand, which represents the organization’s reputation as an employer. a strong employer brand can differentiate the firm from competitors and attract high-quality candidates. marketing teams develop and promote the firm’s unique value proposition, culture, employee benefits and career development opportunities to position the organization as an employer of choice.