survey: where do you get clients?
can you say “referrals”?
by randy johnston and brian tankersley
the accounting firm operations and technology survey
tech and fintech
the case for digital auditing
it’s time for some outside help.
by roman h. kepczyk
traditional audit practices use the previous year’s audit programs and processes updated for the current year as their standard operating plan. eventually this can lead to a significant amount of “overauditing.” breaking this habit is difficult as every level of staff has been trained in the manual processes and falls back on them when deadlines approach.
more: what your auditors need in the field | the value of firm procedures manuals | retaining documents: how long and who decides? | the case for wireless broadband access | maximize your office 365 roi | how the cloud impacts server replacement
exclusively for pro members. log in here or 2022世界杯足球排名 today.
many firms have rightfully transitioned to digital “document container” applications such as caseware, wolterskluwer/cch engagement and thomson reuters engagement cs. not all of these firms have changed their approach to reviewing progress on the audit and the financial reporting on a computer screen in a digital format.
read more →
put bots to work for you
how one firm does it.
by jody grunden
building the virtual cfo firm in the cloud
there’s no doubt that advancements in technology are changing the world, and the accounting industry is no exception. technology is making us more productive, more efficient and more connected.
more: not all employees want the same perks | not all employees will work out | learning to love video calls | be more effective remotely with disc | protect client files from cyberthreats | get ready to launch virtual cfo services | riches in niches
on the flip side, it’s also taking over some of our jobs. this is a reality in the accounting industry that we cannot ignore. technology is driving major changes for the future of the accounting world. we need to be aware of what’s happening and take strategic steps to advance along with these changes. otherwise, we are going to be left in the dust.
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survey: what is the hardest part of your job?
recruiting remains the sorest spot.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
what your auditors need in the field
twain compliance dictates some choices.
by roman h. kepczyk
the advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format. the key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally.
more: the value of firm procedures manuals | teach your clients to send info digitally | the 4 buckets of firm knowledge | internet bandwidth: how much is enough? | why you need windows 10 with automatic updates | laptops vs. desktops
this includes
- multiple monitors,
- image capture equipment and
- remote communications capabilities.
blockchain implications for cpas
futurist jack shaw explains how blockchain is changing the way cpas practice.
with steven sacks
solutions to results llc
the economist magazine describes blockchain as the most important advance in business record keeping since the innovation of double-entry bookkeeping, in florence, italy in over 500 years. but now, blockchain may eventually even replace double-entry bookkeeping.
more 卡塔尔世界杯常规比赛时间 video: blockchain implications for business | the myths of performance management | how covid rewrites the rules for recruiting | the art and science of hiring: three essentials for the covid age | what’s a bot? new tech tools to boost your practice | replay: covid impact on cpa firm m&a | your competition isn’t who you think it is | replay: how to dazzle clients in the covid age |
exclusively for pro members. log in here or 2022世界杯足球排名 today.
six key takeaways
1 – we will see more business being reflected in blockchain-based transactions.
survey: business is still about taxes
the value of firm procedures manuals
where does the most potential benefit lie?
by roman h. kepczyk
every firm has accountants who are 10 percent, 20 percent or even 50 percent more productive in their departments than other personnel because they have simply “figured it out.”
more: teach your clients to send info digitally | why you want a digital tax workflow system | why digital communications matter | the right tech tools for covid work-from-home | it’s 10 p.m. do you know where your backups are? | the best scanners to buy today
unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them. it is the responsibility of firms to capture these individuals’ best practices so that that specific knowledge can be shared and accessed by all firm members both now and in the future. this can be accomplished by making a concerted effort to develop a best practices manual within each department.
read more →
teach your clients to send info digitally
email is comfortable, but not always secure.
by roman h. kepczyk
one of the most critical steps in transitioning a firm to a paperless environment is capturing information in a digital format at its root source as that information enters the firm.
at the base level, this means having clients provide you information in a digital format, which can be done via email, digital fax or through a portal rather than with a physical document. while email is currently the most prevalent tool utilized by clients, it is anticipated the security concerns will help clients transition toward portals.
email has been the most frequent tool used as most clients are comfortable attaching a spreadsheet or document and sending it to the firm. this method allows the digital file to be easily accessed and saved into the firm’s file storage applications. read more →
optimize your scanning procedures
bonus: specific tool suggestions.
by roman h. kepczyk
for the next few years it is anticipated that accounting firm clients will continue to deliver a significant amount of their organizers and supporting tax documents to the firm in a physical format. to utilize this information in a paperless environment, it must be effectively scanned and managed at the lowest possible cost.
more: why you want a digital tax workflow system | retaining documents: how long and who decides? | the case for wireless broadband access | maximize your office 365 roi | how the cloud impacts server replacement | capturing documents at the source
early paperless adopters scanned the tax return and the supporting documents at the back end of the process when a return was complete. this is still usually the first step when firms transition from a completely manual environment.
read more →
survey: recruiting, profits, security are top 3 concerns
for solos, understanding tech options tops the list.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
blockchain implications for business
there’s hardly a business that will remain unaffected by blockchain technology.
^ play the video
with steven sacks
in blockchain basics for business, steve sacks interviews jack shaw on the elements of the technology, its early beginnings, the industries impacted, and the practical business applications.
more videos and podcasts: the art and science of hiring: three essentials for the covid age | what’s a bot? new tech tools to boost your practice | your competition isn’t who you think it is | don’t get burned by these ppp pitfalls
key takeaways:
- bitcoin is only an application of blockchain which is the platform
- decentralized nodes eliminate the possibility of hacking
- blockchain has many business uses in the financial, insurance, media, medical, consumer and supply chain
- industries impacted by blockchain include energy, entertainment, manufacturing and transportation
- blockchain stores records such as identities, ownership of assets, business transactions and contractual commitments
^ download and subscribe to the podcast on itunes here
jack shaw is an innovation and change management consultant, who has been voted one of the world’s top 25 speakers and one of the top 5 technology futurists. jack integrates his executive experience in industry, technology, and consulting to speak on innovation, change management, and transformational leadership. and, he has decades of experience designing, developing, and implementing emerging technologies and how these will impact business and society.
jack has advised key decision-makers at such fortune 500 organizations as mercedes benz, bosch, ge, coca-cola, johnson & johnson, ibm, oracle, and sap. jack has delivered over 1,000 keynote presentations and executive forums in 26 countries and every state across the u.s. he is a yale university graduate, and holds a kellogg mba degree specializing in finance and marketing.
jack’s expertise is in the strategic impact of leading-edge technologies, including blockchain technology, 5g, the internet of things and artificial intelligence. he can be reached at https://jackshaw.io
transcript and slide deck (for pro members)
why you want a digital tax workflow system
workflow fails when admins are the only ones updating status.
by roman h. kepczyk
the most important aspect of transitioning the firm’s tax process to a digital environment is managing electronic files that are no longer physically viewable in assorted stacks around the office. this requires a digital tax workflow system that lets everyone know the status of every return and easily connects that person to digital copies of the return and the source documents.
more: retaining documents: how long and who decides? | the 4 buckets of firm knowledge | internet bandwidth: how much is enough? | why you need windows 10 with automatic updates | laptops vs. desktops
under traditional manual tax systems, firms utilized due date tracking databases that identified when a return was due, but not what information was missing, or the preparation, review or extension status, which was often recorded manually on a physical routing sheet.
read more →