by martin bissett
how about a chief growth officer?
by gale crosley
the rosenberg map survey
editor’s note: every year, the rosenberg map survey asks the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? also, how would you assess the last 12 months?
our homogenous profession consists of firms with similar ownership and governance structures and business models. looking forward we’ll see an increased variety of approaches.
more: rosenberg map: partner incomes surge 11.4%
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many will look more like the corporate world, where ownership is not just in the hands of equity partners. governance structures will include a c-suite of non-cpa players. business models will include the melting away of geographic borders, value-based pricing and a variety of career paths.
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ethical sustainability reporting: essential, yes. easy, no.
by 卡塔尔世界杯常规比赛时间 research
cpas are renowned for their honesty, integrity and ethics, not to mention their detached disinterest, their objectivity and capability, their knowledge, accuracy and thoroughness. they act in the public interest, not the interests of those who hire them or even themselves.
more: accountants to the rescue as startups struggle | talent gap widening: be very scared | cpa biz is booming, but for how long? | survey: accountants economic outlook brightens | research: accounting pros cautiously optimistic about generative ai
certified by the american institute of cpas, they necessarily accept and comply with the international code of ethics for professional accountants.
ethical dilemmas
the guidance in the code has a long history of consideration and development, but one of the newer parts of the code, on ethics involved in sustainability reporting, is still a bit vague. it can leave accountants with ethical dilemmas not easily resolved, according to a new study from the association of chartered certified accountants, “ethical dilemmas in an ear of sustainability reporting.”
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yes, appearances matter.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
branding is part of marketing, but requires you to come up with a unique identity toward your specialty.
more on marketing: why other accountants are great referral sources | do you really want that client? | how to begin a business valuation | how to offer conflict resolution | get your clients talking about retirement | when clients remarry | seven questions to suggest estate planning | four reasons to perform tax projections
tax department branding can be done as part of the overall firm, or separately.
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do they know why they need you? do you?
by martin bissett
passport to partnership
please start understanding, valuing and respecting your own value in the marketplace with clients who could not reach their goals without you.
more: six keys to getting a proposal accepted | six keys to turning prospects into clients | four reasons people struggle with communication | why firm culture matters for partners | three things that rich accountants do | four reasons it’s hard to sell
businesses are in need – sometimes desperate need – of your technical expertise and caring approach.
take that to them instead because, speaking as one who is looked after well myself, we love it and we are prepared to pay a premium without ever asking for discounts.
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black ore emerges from stealth with $60 million in funding to launch tax autopilot, an “autonomous” tax prep app for cpas and accounting firms.
by 卡塔尔世界杯常规比赛时间 research
via black ore
black ore.ai, an austin, texas-based ai platform for financial services, bolts out of the gate with $60 million in financing led by a16z and oak hc/ft. the company plans to use the funds to onboard new customers, grow its team and accelerate the development of additional ai products across financial services.
black ore was founded by veteran entrepreneurs, ceo eyal shinar and cto pavel kapovski, who have proven track records building and operating global fintech brands with ai and machine learning technologies. shinar previously founded fundbox, a $1 billion fintech unicorn powering payments and lending solutions for smbs. kapovski previously led r&d at cme group and spearheaded the development of machine-learning technology used by globally regulated banks and financial institutions. they are joined by a powerful team from leading companies such as adobe, baker tilly, cisco, ey, google, goldman sachs, grant thornton, nasa, pwc and ramp.
black ore offers an ai and automation platform that accelerates core workflows for financial services businesses and simplifies the experience for their clients. as part of its launch, black ore also announced its flagship product, tax autopilot, which combines its proprietary ai technology with federal and state tax codes and regulations to simplify the tax preparation and review process for cpas and accounting firms. future product offerings will target wealth management, financial advisory and planning, insurance services and more.
your time investment now could reap dividends during tax season.
by frank stitely
the relentless cpa
we’ve all heard it.
ask if an assigned project has been completed and get the, “it’s done, but …” followed by a few reasons why said project is still – let’s be honest – incomplete.
more: keep clients from “balance due” shock | stop clients from performing “favors” | control your time: avoid ambush meetings and calls | make fewer mistakes, increase revenue and capacity | six ways to create a millennial-friendly firm
let’s examine how we got a “done but” society. a lot of this will sound like, “back in my day, sonny …” old man nonsense, and a lot of it is.
however, i promise you a solution after my sociological exploration of 21st-century culture. you won’t need a degree in sociology to understand this.
how to develop procedures every client can follow.
by penny breslin
it’s not just the numbers
as back office support, you assist your clients in making timely and accurate business decisions. in the past, you worked on hourly billing doing compliance management. everything was about time.
more: tech tips for back office support | accounting tech tools to minimize your pain | do your apps play well with others? | it’s ok to have favorite clients | ten questions for teamwork | yes, you can be an outsourcer | how back office support adds value
when you did work for a client, you may have billed out an $18-per-hour employee at a rate of $60 per hour. when your employee took the time to call the client for the documents, walked down the hall to ask someone how they had previously handled a transaction, then waited for a document to show up with nothing to do until it showed up – all of this time was billed hourly.
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the philanthropist offered three ways to fix america’s math issues.
by rick richardson
technology this week
when bill gates was in eighth grade, a teacher asked him why he was “so lazy” in math class. he responded, rather boldly, that the class was “not doing anything interesting.”
more: new tech could let evs go 3,000 miles on a single charge | major websites blocking content from ai crawlers | what is an heic file? | bill gates behind next-generation nuclear plant | electronic skin that can sense touch will transform robotics | four of today’s new technologies that will be tomorrow’s ‘norm’
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the co-founder of microsoft and philanthropist is quite talented at math and likes it, but he also admits that math is “america’s least favorite subject.”
in essence, gates claims that math education hasn’t advanced to match the pace of society.
three ways that you can help.
by 卡塔尔世界杯常规比赛时间 research
small businesses rarely make the headlines, but as a whole they represent a huge portion of the american economy. more than 98 percent of all american businesses have fewer than 100 employees, and 77 percent have between one and 10. together they account for 36 percent of the national workforce.
more: talent gap widening: be very scared | accountants hopeful, concerned and confused about ai | looking for recent grads? good luck | cpa biz is booming, but for how long? | survey respondents see exciting year coming up | survey: accountants economic outlook brightens | research: accounting pros cautiously optimistic about generative ai
americans, generally an independent bunch, are known for cranking up new businesses. one in 10 small businesses is less than one year old. the attrition rate is high, of course, but 45 percent have held on for one to 10 years, and they account for 34 percent of small business jobs.
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at some point, entrepreneurs might need to change their risk perspective.
by anthony glomski
after helping clients sell a business, it’s crucial to focus on preserving wealth. this may require them to adopt a new mindset about their money, investing and risk.
more: how to outline your client’s big picture | your entrepreneurs need advice, but which kind? | three ways to work together on wealth | target the family ceo | five challenges of liquidating a business
in the old world, you could choose not to help your clients with their investments. now it’s expected that at a minimum you will understand their investment plan and overall retirement plan. you don’t have to be the expert in every aspect of their financial plan, but you do need to make sure that all the different parts of the plan are aligned – and that all the other specialists working on behalf of your clients are aligned in their efforts.
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five areas to calculate.
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: how much can i sell my practice for? and how do you value a tax practice for sale?
more: ready to retire? selling your practice is no strategy | uncooperative partner might not be the problem | merge in lower-priced work without losing out | 20 things you need for a business valuation
response: good questions and ones i get all the time. here is a listing of some of the things that need to be considered in the pricing. when you sell your practice, the elements that need to be dealt with are:
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five strategies for retention.
by 卡塔尔世界杯常规比赛时间 research
how long will your cpa firm or finance department be a going concern if a quarter of your accounting professionals walk out?
you shouldn’t just worry about that; you should be downright scared.
more: accountants hopeful, concerned and confused about ai | looking for recent grads? good luck | cpa biz is booming, but for how long? | survey respondents see exciting year coming up | survey: accountants economic outlook brightens | understanding the full cost of a data breach
devastating losses of staff and a dearth of job candidates have reached crippling proportions, according to a study from the institute of management accountants and personnel placement firm robert half, “talent retention in the u.s. accounting and finance profession.”
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