today's features
leadership

will your success be incremental or exceptional?

eight forces that have altered the future of accounting firms.

by anthony zecca
leading from the edge

“all organizations are perfectly designed to get the results they are now getting. if we want different results, we must change the way we do things.” – tom northup, author of “five hidden mistakes ceos make”

what a great statement not just about accounting firms, but all organizations – “perfectly designed to get the result they are now getting.” there is another old saying that goes something like this: “if you want different results you have to do things differently.” center leaders hold onto the status quo whereas edge leaders constantly push the envelope of what is possible – pushing to the future edge.

more by anthony zecca
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leadership is a topic that has been researched, talked about, written about, training sessions built around, and endless models developed – yet it is also one of the most challenging issues in most firms today. over my career, i have worked and consulted with leaders of all shapes and styles and firms that experienced varying degrees of success. based on working with hundreds of companies, my conclusions – and two of the primary reasons that drove me to write my book – are that in many cases, firms are performing below their capabilities and every firm has the potential to reach higher levels of performance if and when leadership moves from the center to the edge. edge leaders want to be at the top of the pack when it comes to all metrics that matter whereas center leaders are content to remain average.
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growth strategies

four practical case studies of real advisory success

woman and man meeting in office; chart on his laptop screen

and four lessons learned.

by jackie meyer

you’ve already heard the story of one of my first high-net-worth clients – an executive preparing their own tax return, making costly errors and ultimately turning to me for help. let’s revisit this example with a deeper dive into the transformation and outcomes.

more: your balanced millionaire journey begins now | how to cultivate holistic wealth | five hard-earned lessons from exiting an accounting firm | it’s never too early to plan your exit strategy | beyond blocking: more time management strategies | reclaim your hours with time management and productivity hacks | master the roi method: price for value, not time
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

case study 1: from $150,000 in tax savings to 1,400 percent roi

the situation: this client was an executive with a complex financial situation, including private equity investments that generated dozens of k-1s. when i initially reviewed his self-prepared return, i found that he had misclassified a capital gain sale as royalty income, which led to an overstatement of income by hundreds of thousands of dollars. in 2012, i charged him an hourly rate of $150 to amend the return and correct the mistake. this simple fix saved him $150,000 in taxes.
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accounting arc

cash bags, casinos & audits: how first jobs shape us | arc

“as an auditor, you learn how non-financial events end up having a financial impact.”

sponsored by holistic guide to wealth management by rory henry, cfp, bfa – get today’s special offer here. 
plus, join rory next week for holistic wealth management: modern cpa opportunities.

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accounting arc
with liz mason, byron patrick, and donny shimamoto
center for accounting transformation

on this episode of accounting arc, liz mason, cpa; byron patrick, cpa.citp, cgma; and donny shimamoto, cpa.citp, cgma, revisit their first accounting jobs. the conversation underscores how early exposure to operations, technology, and industry economics cultivates the judgment accountants need to interpret business realities.

more accounting arc: gen z redefines careers | bootleggers, baptitsts & cpas: rethinking licensure |cpa firm ownership under fire | walking violation: when showing your cpa gets you in trouble | audit bags to tiktok tags, gen z talks success | students challenge accounting’s traditional career path | true grit: recognizing struggles that shape our successes | more admins, fewer students, no plan | what career advice gets wrong for gen z – and how to fix it |your identity is not a liability | what happens in vegas… gets reported on a tax return | burnout, be gone: accounting needs a boundary breakthrough | the ultimate business hack you’re probably ignoring | resilience, real talk, and the road to mental wellness | blockchain could still reshape accounting | what gen z wants from business | firm differentiation depends upon client service

from hustling down the beach with bags of money to deploying field laptops with new tech to counting millions of dollars over 15 hours, each host shares a unique accounting beginning, but all have the same clear messaging.

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pricing, fees & billing rates

scoping benefits both your clients and your team

this is your map to success.

by jody padar
radical pricing – by the radical cpa

there are two basic ways to drive from door county, wisconsin, to new orleans to attend mardi gras in february. the first is to chart a course using a map or gps app. it will tell you the route to take, where to stop along the way and how long it will take to make the drive. the second way is to start the car, back out of the driveway and head south, hoping you’ll bump into new orleans along the way.

which do you think gives you the better opportunity to arrive in new orleans in time for the festivities?

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

scope is a lot like creating a project map showing what you want to accomplish, who’s going to do what, how you’re going to do it, what you’ll need along the way and how long it will take to get there. it includes all the specific details of what you’ll deliver to the client, including, for example, tax returns, quarterly planning, bookkeeping and cash flow management.

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pro member exclusive

sixteen technology solutions for accounting firms

hands on keyboard, network illustrated with connected dots

use what fits your needs, not what’s trendy.

by august aquila
max: maximize productivity, profitability and client retention

certainly, there are several technological solutions that can greatly benefit a cpa firm by enhancing efficiency, accuracy and client service. here are some technological solutions that can be considered:

  1. accounting software and erp systems: utilizing robust accounting software or enterprise resource planning (erp) systems like quickbooks, xero or sage can help streamline financial management, bookkeeping and reporting processes.

more by august j. aquila
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

  1. cloud-based solutions: moving your firm’s operations to the cloud allows for real-time collaboration, data accessibility from anywhere, and better data security. cloud accounting software like quickbooks online or xero can be particularly helpful.

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