strategy

12 predictions on the future of accounting

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business hand holding hot chart in crystal ballwhen the market changes, what will be left for you?

by rob nixon

the last time i made 12 predictions on the future of the accounting profession was in 2010. they were bold predictions and i am happy to report that 66 percent (eight) are done and the other four are a work in progress but happening.

more on strategy: finding new opportunity in compliance services | the world is flat | will the internet replace cpas? | how offshoring is shaking up accounting | the profession disrupted: compliance commoditized
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the profession has changed a lot mainly due to the new threat and opportunity with cloud computing. so it’s time to make another 12 predictions…
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how big ‘books’ hurt firms

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young businessman with forehead resting on handsthe invisible hazards of book of business.

by bill reeb and dominic cingoranelli

as we stated in our last column, balancing “book of business” is one of the largest stumbling blocks for cpa firms.

more on performance management: how small ‘books’ hurt firms | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality | make accountability a process | accountability requires clear expectations | base retirement on today’s operations | how involved should retired owners be? | how to find a partner’s replacement
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it is difficult to resolve because it is symptomatic, for most firms, of some real trouble brewing.
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finding new opportunity in compliance services

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a new recipe for the secret sauce of success.

by rob nixon

statutory compliance or “have to” annual accounting is mandated by the government as a task you need to do with your clients.

more on strategy: the world is flat | will the internet replace cpas? | how offshoring is shaking up accounting | the profession disrupted: compliance commoditized
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the main reason the government agencies want you to do this task is so you can accurately (or thereabouts) collect the right amount of money for them. the government agencies are not that interested in the accounting profession.

the secondary reason is to check that your clients are complying with their rules. the government is using you as an intermediary. they are outsourcing their job to you. read more →

the words that will change your future

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future informationdistilling the thoughts of thought leaders for emerging trends.

by hitendra patil
accountaneur: the entrepreneurial accountant

with accounting today’s new directory of the “top 100 most influential people in accounting,” we can glean a few clues about the future of the accounting profession.

more accountaneur: brexit worries?  worry more about cexits, texits and pexits  |  linkedin launches accountant-for-hire service  |  4 pillars of future firm foundation  |  ‘uberizing’ means more than technology  |  you don’t think technology helps get new clients?  |  do you want a practice … or a business?  |  ‘decisiveness’ rated top trait for   success in accounting business  |  tax season management: multi-tasking is a myth  |  3 apps to automate business networking  |

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

but before going further, take a moment to jot down a few words that come to mind when you think about your own future and the future of your business.

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what is ‘acceptable’ performance?

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esposito_ch5no3arrow1and how does it translate into base pay adjustments?

by domenick j. esposito
8 steps to great

once you’ve decided to measure performance, you need to set the standards.

more on strategic planning: net profits: how much to whom? | cpa firm partner performance: different activities, different metrics | 6 measures of partner performance | how to drive partner performance with a smart compensation plan | develop the partners you already have | is hr ready for your partner pipeline? | 3 tools to boost your metrics | how many partners do you need? | is your pyramid upside down? | start with sound firm governance, economics | how to develop tactics for your strategic plan | taking a balanced scorecard to your partners | as tax season ends, strategic planning seasons begins | the big eight: harsh realities for firms today | seizing the $10 trillion opportunity | learning to ‘run with the big dogs’
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

an example of identifying the range of acceptable performance is presented here:
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